File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgiopaul Time of article published May 8, 2020

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

1. SAA business rescue practitioners level blame at Pravin Gordhan

Under-fire business rescue practitioners (BRPs) handling the problems at SAA have defended their reorganisational plan after organised labour joined Public Enterprises Minister Pravin Gordhan in tearing through their processes.

2. SAB storage: 'Government would be pouring R500m in tax revenue down the drain'

Tipplers across the country, already suffering from withdrawal because of a nationwide ban on alcohol sales, would be further enraged after South African Breweries (SAB) announced that it could be forced to pour 132 million litres of beer down the drain.

3. Manufacturing activity in SA grinds to a halt as lockdown's effect is felt

The latest Absa PMI data shows that manufacturing activity has almost ground to a halt during the nationwide lockdown in April.

4. SAB calls on government to reconsider alcohol ban

South African Breweries (SAB) yesterday called for the government to reconsider the ban on the sale and local transportation of alcohol as the coronavirus (Covid-19) epidemic crashed a strong performance in the first two months of the year.

5. WATCH: Rand extends gains with the greenback losing momentum

The South African currency found comfort in a softer dollar and thawing risk appetite to soothe the bruise left by weaker-than-expected business confidence data according to NKC Research. 

6. 'We need to get back on the construction site to help save SA'

The construction industry needs to get back into action, not just for economic reasons but for the health and well-being of the country.

7. Solidarity Fund and FoodForward SA deliver over 80 000 food parcels

The Solidarity Fund and South Africa’s biggest food redistribution organisation FoodForward SA, which uses mainly surplus food from retailers, has delivered 86 500 food parcels to hungry households in the past ten days.

BUSINESS REPORT ONLINE

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