SA's Elon Musk gets set to make space history; troubled Tiger Brands to chop jobs; Distell; Rand
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In today's news headlines:
* South Africa’s most successful global tech entrepreneur Elon Musk - founder of electric car manufacturer Tesla is getting set for another historical step in his business journey. His space exploration firm SpaceX gets set to take US astronauts into orbit this week;
* Food producer Tiger Brands said on Monday it is looking at “significant” job cuts and won’t pay an interim dividend as its business is hit by supply disruptions and margin pressures due to the impact of the coronavirus, says Reuters;
* The best performer at the end of the trading day on the Johannesburg stock exchange was the liquor group Distell, which gained more than 6.5% - undoubtedly on news that a ban on alcohol sales is to be lifted as South Africa eases Covid-19 containment rules; and
* Offshore investors sold a net R1.95bn of South African stocks last week and bought R2.17bn in bonds, data from the Johannesburg Stock Exchange showed on Monday.
* South Africa’s most successful global tech entrepreneur Elon Musk - founder of electric car manufacturer Tesla is getting set for another historical step in his business journey. His space exploration firm SpaceX gets set to take US astronauts into orbit this week;
* Food producer Tiger Brands said on Monday it is looking at “significant” job cuts and won’t pay an interim dividend as its business is hit by supply disruptions and margin pressures due to the impact of the coronavirus, says Reuters;
* The best performer at the end of the trading day on the Johannesburg stock exchange was the liquor group Distell, which gained more than 6.5% - undoubtedly on news that a ban on alcohol sales is to be lifted as South Africa eases Covid-19 containment rules; and
* Offshore investors sold a net R1.95bn of South African stocks last week and bought R2.17bn in bonds, data from the Johannesburg Stock Exchange showed on Monday.
