An estimated 2300 businesses have been signed up for the South African Future Trust (SAFT) funding scheme via FNB. 
Photo: File
An estimated 2300 businesses have been signed up for the South African Future Trust (SAFT) funding scheme via FNB. Photo: File

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Jun 2, 2020

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

1. SA vehicle sales plunged by 68 percent versus May last year

Following April’s hard lockdown that all but obliterated local car sales, the South African motor industry slowly chugged back to life in May, with dealers and manufacturers reopening in a phased approach.

2. FNB changes eBucks rules to help customers earn more points

FNB monthly account fees on bank accounts for individuals will be unchanged or reduced while new eBucks Rewards earn rules will make it easier for customers to earn more eBucks. 

3. WATCH: Rand edges firmer against the dollar

The South African rand traded on the front foot as South Africa entered level 3 of the phased reopening of the economy, which allows mines and factories to operate at full capacity according to NKC Research. 

4. Small bakeries boosted by 5 tons of free wheat

Thirteen small bakeries across the West Rand townships of Gauteng have received a boost after South African Breweries (SAB), together with IL Molino Specialty Grains and Mogale City municipality donated more than five tons wheat.

5. Spooked Standard Bank sheds 5% on flagged profit decline

The Standard Bank Group share price declined by more than 5 percent on the JSE on Monday after the group flagged an earnings decline of more than 20percent as the Covid-19 outbreak continues to spook the global markets.

6. ANALYSIS: Quarter of McDonald’s stores close amid Covid-19

McDonald’s is the world’s largest foodservice retailer, serving more than 69 million customers daily at about 38 000 locations in more than 100 countries. 

7. Rightsizing helps Raubex return to profitability

Raubex's share price surged 10.36 percent to R18.43 on Friday after the infrastructure and construction materials group reported that its headline earnings a share rose 183.7 percent in the year to February 29. 

BUSINESS REPORT ONLINE

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