File image: Simphiwe Mbokazi African News Agency (ANA)
File image: Simphiwe Mbokazi African News Agency (ANA)

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Sep 3, 2019

Share this article:

CAPE TOWN - Good morning. This is all the latest business news that you need to know today. 

1. Labour Registrar saves the day for Amcu

The Association of Mineworkers and Construction Union (Amcu) yesterday lived to breath again after Labour Relations Registrar Lehlohonolo Molefe said that his office had halted the deregistration, following a number of written representations from the union.

2. Bidvest confident of Mumbai exit

Bidvest is confident it can sell its stake in Mumbai Airport, India by the end of the year for $86million (R1.31 billion) in spite of imminent arbitration with majority shareholder GVK, which is attempting to prevent the sale, Bidvest chief executive Lindsay Ralphs said yesterday.

3. UASA union demands decisive action from Ramaphosa to contain violence

One of South Africa's oldest trade unions, UASA, on Tuesday demanded decisive action from President Cyril  Ramaphosa to contain a wave of violence targeted mainly at mostly-African foreign small business owners.

4. Ascendis headhunts House of Busby boss to implement its turnaround plan for revival

Health and wellness group Ascendis Health, which in May fired its chief executive Thomas Thomsen has poached Mark Sardi from apparel group House of Busby.

5. RCL Foods slashes its dividend to 10c

RCL Foods yesterday slashed its final dividend by 10 percent to 10 cents a share after it shaved off nearly R1 billion in profits in the year to the end of June as the sugar tax and chicken imports came back to haunt its fortunes.

6. Rand flat, bourse retreats

The rand traded sideways yesterday, with investors holding fire ahead of second quarter economic growth figures that could help gauge the future direction for the currency.

7. PMI plunges by 6.4 points in August

The ABSA Purchasing Managers’ Index plunged 6.4points to 45.7points last month as the business activity and new sales orders indices slumped back into contractionary terrain from 52.1points in July. 


Share this article:

Related Articles