FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg
FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Jun 9, 2020

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

1. Alex Forbes share bonus boost

Alexander Forbes’s share price leapt by more than 6 percent on the JSE yesterday after the financial services group declared a special dividend of 50 cents a share for the year to end March.

2. WATCH: Rand whipsaws overnight

The rand pounced on the opportunity to benefit from a retreating dollar and robust emerging market sentiment according to NKC Research. 

3. Life Healthcare hit by cyber attack

South Africa’s Life Healthcare said on Tuesday its southern African operation was hit by a cyber attack affecting its admissions systems, business processing systems and email servers, but is yet to determine the extent to which data has been compromised.

4. Volkswagen appoints new brand CEO to lead cost-cutting efforts

Volkswagen has replaced Herbert Diess as chief executive of the VW brand, and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company's largest plants in Germany.

5. SAA forced to wait for restructuring decision

National carrier SAA will have to wait until next week to find out how it will be restructured after its business rescue practitioners (BRPs) asked for a fifth extension to table their plan. 

6. BP one of the biggest virus casualties

Global oil giant BP has become one of the biggest casualties of the coronavirus pandemic after the worldwide slowdown in oil production hit its production lines, telling its employees yesterday that it had begun a process to reduce its workforce by 14 percent - amounting to 10000 employees - to cut costs.

7. What should an employer do if an employee contracts Covid- 19?

The Department of Employment and Labour issued directions in late April on the measures an employer would need to take to provide its employees with safety measures to protect against the risk of Covid19 exposure.


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