CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Infrastructure build plans offer glimmer of hope
Intu, the UK shopping centre group founded by Liberty Group founder Donny Gordon, threw in the towel on Friday and went into administration, dragging the rest of the property sector lower on the JSE.
2. WATCH: Rand runs out of steam
The South African currency lost some positive momentum during Friday’s European session, offsetting most of the gains made on Thursday according to NKC Research.
3. Batsa mulls options after court delay
British American Tobacco South (Batsa) is considering its legal options after the government postponed the extended cigarettes and vaping ban hearing by six weeks, the company said on Friday.
4. Strikethreat at Cell C over job cuts
The information Communication Technology Union (ICTU) has threatened to down tools across Cell C’s operations if the company does not withdraw the section 189 notice that it issued last week informing employees of possible retrenchments.
5. Runaway debt risks sending SA over a fiscal cliff, warn Fitch and Moody’s
Fitch Ratings and Moody’s Investor Services warned on Friday that the country risked going over a fiscal cliff following Finance Minister Tito Mboweni’s Supplementary Budget last week, which left both rating agencies unimpressed.
6. Clients ready to take on Santam over Covid-19 interruptions
Two clients will be taking on their insurer in the Western Cape High Court on Monday, September 1, to challenge Santam’s refusal to pay their business interruption claims related to the Covid-19 outbreak.
7. Fast Company masters Covid-19 challenge with work from home
Covid-19 has presented media businesses with a great challenge of survival. It has also challenged them to innovate. Fast Company (SA) is not immune to these challenges.