CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Markus Jooste slapped with R161m FSCA fine for insider trading
The Financial Sector Conduct Authority (FSCA) today imposed an administrative penalty of R161.57 million on former Steinhoff International chief executive Markus Jooste for insider trading in the retailer’s share price.
2. SA Bidco gets the green light to buy Comair, BA's local operator
SA Bidco, a new South African entity with no commercial operations and that has never traded before, has been given the green light to buy the local operator of British Airways, Comair.
3. Ctrack Freight and Transport index reaches highest growth ever in Q3
The Ctrack Freight & Transport Index reached its highest growth ever in the third quarter, indicating that the imminent gross domestic product figure (GDP) for the quarter may well show the strongest growth per quarter in our lifetime, Ctrack managing director Hein Jordt said yesterday.
4. MTN third quarter revenue up 11.4% despite challenging conditions
Mobile telecommunications company MTN on Friday said its service revenue grew by 11.4 percent to more than R43 billion in the third quarter, despite the negative impact of the Covid-19 health crisis.
5. Rand up slightly despite Fitch’s warning
During European trade the South African rand recovered some mini-budget-related losses – as unconvincing fiscal roadmap undermined confidence – incurred during yesterday’s overnight session according to NKC Research.
6. Investec Australia Property Fund proves resilient through Covid-19
Investec Australia Property Fund (IAP) proved resilient through Covid-19 and distributed 4.39 Australian cents per unit for the six months to September 30.
7. Pick n Pay pursues strategy of becoming environmentally responsible
Pick n Pay said yesterday that Smart Shoppers could now have their till receipts emailed to them directly instead of receiving a printed receipt as it pursues its strategy of becoming environmentally responsible and promoting sustainable living.
BUSINESS REPORT ONLINE