5 things you need to know in SA business today and the wildest after-effect from Mexico’s win
BUSINESS INSIDER / 18 JUNE 2018 - 11.07 / STAFF REPORTER
1. Liberty is under cyber attack – on Thursday evening, someone hacked into its system and apparently seized data. The hacker is now asking for money before data is leaked. Liberty’s CEO David Munro says the group has made no concessions “in the face of this attempted extortion”.
David Munro, CEO of Liberty. Photo: Deaan Vivier
2. Eskom expects it will take another nine days for the electricity supply to normalise after disruptions due to labour unrest last week.
3. The Minerals Council South Africa, formerly known as the Chamber of Mines, does not support parts of the new draft mining charter, released on Friday. Particularly, it does not support the requirement that one percent of core profit is paid to communities and employees. The new charter aims to raise black ownership at permit-holding mining companies to 30 percent from 26 percent within five years. Other provisions of the new charter include at least 50% of directors and 50% of top management must be black. The charter will be discussed at a summit in July.
4. South African Revenue Service acting commissioner Mark Kingon’s term has been extended by another three months.
5. The construction group Basil Read on Friday afternoon announced that it has filed for business rescue. Founded in 1952, the company was involved in some of the key roads and infrastructure projects in SA.
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