ANC, not Covid-19, have destroyed economy - DA; Curro, Foschini rights offer; Tongaat Hulett; Sasol
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In today's news headlines:
* DA leader John Steenhuisen says the ANC, not Covid-19, is to blame for the country’s economic woes after President Cyril Ramaphosa announced that the lockdown will be substantially eased;
* Tesla directors, including co-founder Elon Musk, awarded themselves massive compensation packages over a three-year period and improperly siphoned hundreds of millions of dollars out of the electric carmaker’s coffers, a pension fund invested in the company alleges;
* Covid-19 containment has broken many businesses and pushed many perilously close to collapse – but for the Sasol executive team this has proved to be a time to develop plans to improve the business and review its business and workforce structures;
* South African retailer The Foschini Group gained more than 5% on the Johannesburg stock exchange after announcing plans to raise about R4bn;
* Education provider Curro will use a R1.5bn oights offer to proactively reduce the gearing levels; and
* Troubled Tongaat Hulett has entered into an agreement with eSwatini’s Public Service Pensions Fund to sell Tambankulu Estates to help it reduce its massive debt.
* DA leader John Steenhuisen says the ANC, not Covid-19, is to blame for the country’s economic woes after President Cyril Ramaphosa announced that the lockdown will be substantially eased;
* Tesla directors, including co-founder Elon Musk, awarded themselves massive compensation packages over a three-year period and improperly siphoned hundreds of millions of dollars out of the electric carmaker’s coffers, a pension fund invested in the company alleges;
* Covid-19 containment has broken many businesses and pushed many perilously close to collapse – but for the Sasol executive team this has proved to be a time to develop plans to improve the business and review its business and workforce structures;
* South African retailer The Foschini Group gained more than 5% on the Johannesburg stock exchange after announcing plans to raise about R4bn;
* Education provider Curro will use a R1.5bn oights offer to proactively reduce the gearing levels; and
* Troubled Tongaat Hulett has entered into an agreement with eSwatini’s Public Service Pensions Fund to sell Tambankulu Estates to help it reduce its massive debt.
