7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
President Cyril Ramaphosa yesterday urged businesses to do more to end the legacy of apartheid and give black people a meaningful role in the economy, only a week after coming under fire for appointing a white man as head of the country’s largest state-owned company.
The South African currency reversed initial gains yesterday as traders looked for trade deal clarity, while depressed sentiment owing to negative rating action by ratings agency S&P Global Ratings on Friday evening put further pressure on the local South African unit according to NKC Research.
Sasol, the JSE-listed global chemical and energy giant, on Monday warned of a 20 percent slump in its half-year headline earnings per share (Heps) to December as it announced that it had enhanced its liquidity after securing a $1 billion (R14.70bn) loan from its lenders.
Eskom Holdings, which accounts for two-fifths of South Africa’s greenhouse-gas emissions, leads the country’s biggest emitters in its failure to set targets to reduce its impact on the climate, a report shows.
South African retailer Pepkor Holdings has suffered a write-down of goodwill and intangible assets of R1.2 billion in its building materials segment as a result of the contraction in the building materials market.
The Competition Commission Inquiry into Grocery Retail, published on Monday, called for an end to the exclusive leases negotiated by national retail chains in all shopping malls across the country in a bid to open up access to markets for smaller players.
Workshop17’s latest state-of-the-art collaborative facility in Cape Town’s City Bowl has 30 modifiable private offices, hot-desking, café co-working, meeting rooms, boardrooms and a top floor café area.
BUSINESS REPORT ONLINE