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Reuters

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News Feed

Rand on the ropes as virus fears mount

With South Africa reporting a sharp jump in confirmed coronavirus cases on Monday to 402, from less than 50 just over a week ago, sentiment towards the rand and other local assets is set to remain on the ropes.

Ex-boss Moyo's appeal dismissed - Old Mutual

The Supreme Court of Appeal has refused ex-Old Mutual Chief Executive Peter Moyo leave to appeal a decision overturning his temporary reinstatement and dismissing the case against his sacking in June, Old Mutual said on Monday.

Rand on the ropes as virus fears mount

At 0700 GMT the rand traded 1.2% weaker at 17.7380 per dollar against a close of 17.5310 on Friday, edging closer to an all-time worst level of 17.9950 reached in late 2015.

Tsogo Sun to close 36 hotels as demand collapses

Tsogo said in a statement it was looking to reduce costs and capital expenditure further and this will be done by closing a number of hotels in the key areas where the firm has multiple properties.