File photo: Reuters
File photo: Reuters

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Nov 19, 2019

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

1. Candy Ventures walks away from Capco offer after Earls Court sale

Candy Ventures has walked away from an offer for Capital & Counties (Capco), after the UK and JSE-listed property group sold its Earls Court residential development in west London.

2. WATCH: Rand trades weaker overnight

The rand slipped as trading optimism waned after US-Sino trade-talk progress was drawn into question according to NKC Research.  

3. Netcare to spend R1.4bn in capex in coming year

Private hospital group Netcare is to spend R1.4 billion in capital expenditure during the 2020 financial year as part of its ongoing expansion programme.

4. SAA warns it could be out of business if strike continues much longer

Under-fire SA Airways (SAA) has warned that the strike would put the national carrier out of business if it continued for longer, as it benefited only competing airlines.

5. Interest rate decision will not change property market meaningfully

This week’s SARB interest rate decision not expected to change property market conditions meaningfully, according to  John Loos, Property Sector Strategist at FNB Commercial Property Finance.

6. Astral Foods' profits hit by high feed costs, drought

South Africa’s Astral Foods Limited said on Monday its full-year profits plunged by 55 percent after higher feed costs hit its poultry division, a decline it first warned about in October.

7. Pioneer Food reports 6% fall in annual profit

Food and drinks company Pioneer Food Group Ltd on Monday reported a 6 percent fall in full-year profit and said it expects its takeover by PepsiCo Inc for $1.7 billion to be finalised in early 2020.


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