Photo: Bloomberg
Photo: Bloomberg

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 26, 2020

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

1. Labour court rules in favour of SAA and BRP's

The labour Court ruled in favour of SAA and SAA’s Business Rescue Practitioners (BRPs), Les Matuson and Siviwe Dongwana, for leave to appeal to the Labour Appeal Court. 

2. Liquor makers push for bars to join revival in South Africa

South Africa’s alcoholic-beverage makers are pushing the government to allow smaller bars to convert into drink-collection points when a nationwide ban on sales is lifted next week.

3. WATCH: Rand claws back yesterday’s losses overnight

The South African currency steadied amid thin trading volumes as cautious optimism surrounding a recovery in global trade growth was put against concerns that simmering US-Sino tensions will smother risk appetite according to NKC Research. 

4. Netcare won't provide earnings guide for rest of year

Netcare saw its March revenue decline by R143million due to Covid-19 disruption and the JSE-listed healthcare provider yesterday, while releasing its interim results, warned that it could not provide an earnings guidance for the rest of the year as the period ahead was too uncertain.

5. AYO expects surge in Heps with results imminent

Black-owned IT group AYO Technology Solutions expects to increase headline earnings a share (Heps) by between 15.4 and 35.4percent for the six months to February 29, it said in a trading statement yesterday.

6. Standard Bank waives MyMo fees for six months

Standard Bank has announced that all customers who open a MyMo account between now and June 15 will get certain fees waived over the next six months. 

7. Bankers stay home as South Africa prepares to return to work

Investec Chief Executive Officer Fani Titi saw a sign of things to come when he dropped by the bank’s headquarters last week.


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