5 things you need to know in SA business today and Apple's cool parking lot
1. All eyes on the rand this week - it is trading at R12.23 to a dollar this morning. Less than five days ago, it was fifty cents weaker. The dollar has been hurt amid concerns that a global trade war may cost the currency its dominant position in the world economy. Other emerging market currencies, especially Turkey and Argentina, remain under pressure.
2. It will be a big week for company results as well, starting with Sappi and Lonmin today, and ending with Richemont on Friday. Datatec, Investec en Netcare will also release results. Earlier this morning, Vodacom announced that its revenue rose 6% in its past financial year; its earnings were flat. Astral Foods has seen its half-year profit rose more than five fold, also announced this morning.
3. Fifteen municipalities in Limpopo, North West, Gauteng and Mpumalanga may collapse after they unlawfully invested R1.5bn with bankrupt bank VBS.
5. Brian Molefe has been implicated in a report compiled by the law firm Werksmans, which found that he may have lied to the Transnet board to inflate the controversial 1 064 locomotive tender – from which Gupta family-linked businesses scored billions of rands in kickbacks – from R38bn to R54.5bn.
The cool parking lot underneath Apple's $5 billion HQ
Apple's new headquarters, Apple Park, is a stunning piece of architecture has captured the imagination. A new dashcam video posted by a Lyft driver has revealed what lies beneath: a highly efficient parking lot system of turns, underground tunnels, and LED lighting. It's a little reminiscent of how airports direct traffic — fitting, given that the unofficial nickname for Apple Park is the "spaceship" and it looks like it could take off at any point.
Check out Apple's traffic lights:
The numbers are reminiscent of airport terminals.
Purple LED lighting in the parking bays.
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