Picture: Bongiwe Mchunu
Picture: Bongiwe Mchunu

7 things you need to know today

By Dhivana Rajgopaul Time of article published Jan 18, 2021

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

1. Mark Barnes rips government over interference with Sapo

Former South African Post Office (Sapo) chief executive Mark Barnes has taken to social media to vent about the state of the frail state-owned entity as it emerged that the group chief financial officer (CFO) had quit barely two months into his tenure.

2. JSE retreats on long-awaited Biden stimulus plan of $1.9 trillion

The market retreated on Friday as stocks held back after US President-elect Joe Biden's long-awaited $1.9 trillion (about R30 trln) rescue plan triggered a risk-off sentiment.

3. Glencore shares dip on Brian Molefe’s state capture allegations

Glencore dipped slightly on Friday after former Eskom chief executive Brian Molefe linked the miner to state capture.

4. Rhodium on upward streak as it breaches $20 000 mark

Rhodium has breached the $20 000 (R304 400) an ounce mark for the first time on record, underscoring demand stimulated by the stringent emissions levels.

5. Rand struggles against resilient dollar

The rand struggled against a resilient greenback and rising odds for a rate cut at this week’s MPC meeting dulled appeal for the local unit according to NKC Research.

6. SAB goes on an offensive on alcohol sales ban

President Cyril Ramaphosa's 5-year plan to raise R1.2 trillion investment was dealt a blow this week after South African Breweries (SAB) pulled the plug on yet another multi-billion rand capital investment.

7. Black-owned group ready to assist with vaccine

A black-owned diversified health solutions company has pledged to use its network of 3000 registered nurses, who will travel throughout the country, and to provide over 150000 vaccinations per day, given the right conditions.

BUSINESS REPORT ONLINE

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