7 things you need to know today

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

1. WATCH: Rand trades on the back foot

The local unit battled opposing forces as improving risk sentiment faced off against a grim business activity outlook according to NKC Research. 

2. SAA to halt all flights tomorrow

The Business rescue practitioners (BRPs) of SA Airways (SAA) have said all flights, repatriations or otherwise, would be halted tomorrow, Public Enterprises Minister Pravin Gordhan announced yesterday. 

3. Pravin Gordhan voices criticism of SAA business rescue effort

Public Enterprises Minister Pravin Gordhan on Wednesday has told MPs every effort is being made to resolve the desperate situation surrounding South African Airways (SAA) and has suggested the carrier's business rescue practitioners have fallen short of government's expectations.

4. IBM launches Open P-TECH free platform for workplace learning and skills

At the IBM Think Digital conference, IBM announced the launch of Open P-TECH, a free digital education platform focused on workplace learning and digital skills.

5. Only 6% of small businesses get relief funding - survey

Findings extracted from the Covid-19 National Small Business Survey (Post Level-5 lockdown) released by the National Small Business Chamber (NSBC), highlights the continued pain experienced by small businesses coming out of level-5 of the lockdown.

6. Morgan Stanley-backed R5bn fund to buy virus-hit SA firms

Capitalworks Investment Partners Pty Ltd. plans to invest 5 billion rand ($270 million) of newly raised cash in mid-sized South African companies hit by a shrinking local economy and the coronavirus pandemic.

7. Eskom reports lost income of R2.5 billion in April

Eskom's income has shrunk by about R2.5 billion in April as energy demand plummeted due to the country's national lockdown in response to the Covid-19 pandemic, the power utility's chief executive, Andre de Ruyter, said on Wednesday.

BUSINESS REPORT ONLINE