The cap –
Board of directors agrees to sell Twitter to Elon Musk
It’s the largest social media acquisition ever, surpassing Microsoft’s $26.2 billion takeover of Linkedin. Twitter has agreed to sell Elon Musk, the world’s richest man, born in South Africa, for $44 billion. According to reports, the transaction – which has been unanimously approved by Twitter’s board – is expected to close in 2022, subject to shareholder approval, regulatory approvals and other customary closing conditions. .
Sasol feels impact of KwaZulu-Natal floods
Sasol, the producer of petroleum products and chemicals from coal, said the impact of the KwaZulu-Natal floods could affect its fourth-quarter volume outlook. The firm also declared a case of force majeure on the export of certain chemical products. A force majeure is a common clause in contracts, which releases the parties from any liability or obligation when an extraordinary event occurs – in this case, devastating floods.
President Cyril Ramaphosa to address Parliament on KZN and Eastern Cape floods
President Cyril Ramaphosa will address a joint session of Parliament today on the devastation caused by catastrophic flooding along parts of the east coast. Ramaphosa is expected to outline the government’s response and any additional funding after declaring the flooding a state of national disaster. Finance Minister Enoch Godongwana has set aside R1 billion and additional funds will be allocated through parliamentary processes.