Africa-Press – South-Africa. CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Race to trace lawyers defaulting on clients
The Legal Practice Council (LPC) has seen a significant increase in complaints of attorneys overcharging clients, failure to protect clients’ interest, misappropriation of funds, sequestration, touting and bringing the profession into dispute during 2019 and 2020.
2. Eskom expects a R22bn after-tax loss by end of 2021 financial year
Eskom has said that it expected to record an after-tax loss of R22 billion by the end of the 2021 financial year on lower tariff increases, declining sales volumes and escalating municipal arrears debt.
3. J&J has applied to South Africa for registering Covid-19 vaccine – regulator
South Africa’s pharmaceutical regulator said on Monday that it had received its first application to register a Covid-19 vaccine from Johnson & Johnson.
4. Consumer confidence expected to remain subdued despite sentiment inching up
Consumer confidence in South Africa is expected to remain subdued despite sentiment inching up slightly in the fourth quarter amid further relaxation of Covid-19 restrictions.
5. Delta Property Fund’s lead independent director withdraws resignation
Delta Property Fund’s lead independent director, JJ Njeke, withdrew his resignation yesterday after the recent release of a forensic audit into the real estate investment trust that implicates as-yet-unnamed directors with irregular procurement and misappropriation of funds.
6. Rand and stocks stronger as dollar weakens
The rand and stocks firmed slightly yesterday, as the dollar weakened.
7. Nedbank’s adapt-or-die approach pays off
Nedbank said yesterday that the Covid-19 outbreak led to a strategic shift to stay relevant to its clients in the face of the pandemic.
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