Compiled by Dhivana Rajgopaul
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Spar Board of Directors set for major makeover
The Spar Group’s board of directors is set for a makeover next year following the retirement of long-serving chairperson Mike Hankinson after 16 years at the helm.
2. Essential-service focus helps UK Reit to weather Covid-19
A focus on essential service stores helped Capital & Regional, the UK owner of dominant in-town community shopping centres, to weather weak trading during the Covid-19 pandemic.
3. Sasol looks for partners in quest for emission reduction
Petrochemicals giant Sasol is looking to find potential partners in developing technology that will reduce its carbon footprint, in line with its emission-reduction goals.
4. Data expected to reveal deeper recession
Economists expect that the second-quarter gross domestic product (GDP) data released tomorrow will show that the economy entered into a deeper recession as the hard lockdown halted business activity.
The rand remained resilient on Friday as the trade-weighted dollar made some inroads towards recovering from two-year lows according to NKC Research.
6. Clicks to trade as normal on Monday despite EFF threat
Health and beauty retailer Clicks on Sunday advised that it would be trading as normal on Monday, September 7, despite the call by the Economic Freedom Fighters (EFF) for strike action and closure of stores.
7. Orion Minerals bosses set for salary increase
Orion Minerals this week approved a pay hike for its managing director and chief executive Errol Smart, following last month’s strongly supported share placement to bring the R5.4 billion Prieska Copper-Zinc Mine in the Northern Cape into production.
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