Photo: Simphiwe Mbokazi/AfricanNewsAgency/ANA

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

1. Prosus listing expected to reduce Naspers weighting on the JSE to 15%

Naspers' s listing of its new global consumer internet group, Prosus, on the Euronext stock exchange in Amsterdam tomorrow is expected to reduce its dominance on the JSE. 

2. Johnson & Johnson announces science innovation winners at WEF Africa

Johnson & Johnson on Thursday announced the winners of the champions of science Africa innovation challenge 2.0 at the World Economic Forum on Africa (WEF) in Cape Town. 

3. MTN gets fined R5 million for hiking costs

The reputation of MTN, Africa’s mobile giant, has been tainted again in South Africa after the communication regulator slapped the company with a R5 million fine for hiking the cost of its WhatsApp bundles in 2018.

4. Amcu backs down on hike demand of 48%, gets new mandate

The Association of Mineworkers and Construction Union (Amcu) has backed down on its initial demand for a 48 percent monthly wage hike after members gave the union a new mandate to seek an increase of R1 500 a year.

5. Old Mutual heading to court after barring Moyo from returning to work

Old Mutual said on Monday that it would be filing appropriate appeal papers in the next few days after it barred sacked chief executive Peter Moyo from returning to work, despite the South Gauteng High Court ordering the group to do so last week.

6. Business counts cost of xenophobia as African nations retaliate

The country’s businesses have started counting the cost of the ongoing xenophobic attacks on foreigners that have claimed at least 10 lives in South Africa.

7. WATCH: Rand trades flat overnight

The local currency continued to benefit from some positive sentiment during the early stages of this week, trending around levels previously observed in early August according to NKC Research. 

BUSINESS REPORT ONLINE