7 things you need to know today

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

1. Lonmin delays 12600 job losses

Lonmin, the world’s third-largest platinum producer, said on Friday that it had greater leeway to delay the 12600 job losses because of improved metal prices in the three months to December.

2. Shell to launch electric vehicle charging stations in Mzansi

Shell SA will be launching its first electric vehicle (EV) charging stations in its retail network this year, with the number installed based on demand.

3. WATCH: Rand steadies after pressure from the dollar

The South African currency steadied near a one-week low after coming under pressure from a stronger greenback earlier in the week.

4. Harmony Gold warns of a substantial dip in its earnings

JSE-listed gold mining and exploration company Harmony Gold has warned that its headline earnings per share (Heps) could fall as much as 97 percent for the six months to end December.

5. PSA gives thumbs up to Ramaphosa plans to combat corruption

The Public Servants Association said on Monday it welcomed steps announced by President Cyril Ramaphosa in his state of the nation address last week to combat corruption.

6. Basil Read sells interest in Botswana joint venture

Financially distressed listed construction group Basil Read, which is in business rescue, has agreed to sell the 28percent interest in the Majwe Mining joint venture owned by its wholly owned subsidiary Basil Read Mining Botswana for R110.5million.

7. Loss of Sassa contract takes toll on Net 1’s SA operation

NET1 UEPS Technologies faced headwinds in South Africa during the second quarter to end December, negatively impacted by the loss of the South African Social Security Agency (Sassa) contract and a further loss from Cell C fair value adjustment.


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