Sanlam said it would issue an aggregate of 5 percent of ordinary shares to a new broad-based group of empowerment shareholders and Ubuntu-Botho Investments (UB) which is Patrice Motsepe's company. Photo by Simphiwe Mbokazi

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

1. Transnet, Denel in bold house-cleaning move

Embattled state-owned entities Denel and Transnet yesterday moved to clean house after years of mismanagement and corruption. 

2. Trade balance validates SA’s growth outlook cut

South Africa trade balance data for September has resumed selling pressure on the rand on Wednesday. 

3. Motsepe strikes gold in Sanlam expansion

Billionaire Patrice Motsepe is set to score big in Sanlam’s multi-billion expansion of its broad-based black economic empowerment (BBBEE) shareholding from 18 percent to 35 percent.

4. Absa festival offers opportunity to invest in art

For the first time in its 17-year history, guests at the Absa Champagne Festival will be able to bid on investment art.

5. Implats shines on news of possible Rustenburg sale

Impala Platinum (Implats) shares strengthened 6.98 percent to R26.37 a share in early trade on the JSE yesterday, after the miner revealed that it was involved in early talks to sell its 1 Shaft in Rustenburg.

6. Softbank hires Time Warner executive

SoftBank Group has hired a Time Warner executive and former lawyer in the Clinton administration to spearhead its global communications strategy as the company transforms into one of the world’s largest technology investors.

7. WATCH: Rand falls after poor SA merchandise trade data

The rand fell against the US dollar during yesterday’s European trading session according to NKC Research. 

BUSINESS REPORT ONLINE