CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Eskom blames Guptas for coal shortage
The fallout from the Gupta-linked Tegeta Exploration and Resources has come back to bite the country’s already falling economy with Eskom yesterday blaming the family for coal shortages at its power stations.
2. Liberty ‘redesign’ raises fear of job losses
Discontent is brewing at listed financial services company Liberty Holdings, with employees raising fears that their jobs could be on the line if the group implements its “revised organisational design” announced in July.
3. SA not planning mass layoffs in public sector to fight recession – Ramaphosa
South Africa’s President Cyril Ramaphosa said on Monday there would be no mass layoffs of public sector workers as his government considers various ways to pull the economy out of a recession that has rattled the rand and investor confidence.
4. Stillwater-Lonmin deal gets nod
The long-awaited R5 billion merger between Lonmin, the second-biggest platinum producer in the world, and Sibanye-Stillwater received a major boost yesterday when it got a conditional nod of approval from the Competition Commission.
5. ConCourt judgment could see marijuana ruling go up in flames
The Constitutional Court is expected to hand down judgment on Tuesday in a matter in which another court ruled that it was legal for South Africans to grow a little weed – better known locally as dagga – for personal use.
6. Coca-Cola to develop cannabis infused drinks
Coca-Cola says it’s monitoring the nascent industry and is interested in CBD – the non-psychoactive ingredient in marijuana – for beverages as soda consumption slows.
7. ‘Fewer people will afford medical aid’
AfroCentric Investment Corporation chief executive Antoine van Buuren yesterday said that the biggest challenge in healthcare was the affordability of medical aid.
