1. This could be Nhlanhla Nene’s final day in office. Business Day reported that the finance minister asked president Cyril Ramaphosa “to relieve him of his duties” over the weekend. This followed Nene’s public apology for various meetings with the Gupta family while he was deputy minister and minister of finance.
“Part of my duty as a public office bearer is to meet fellow South Africans and other stakeholders when they request to do so. However, I was wrong in meeting the Guptas at their residence and not in my office, or at least a public place. I should also have disclosed early, and fully, the details of these meetings, in particular those that took place in Saxonwold,” Nene said in a statement.
A further revelation has added to pressure on Nene: the Mail & Guardian and amaBhungane reported that his son, Siyabonga Nene, asked the Public Investment Corporation to finance a huge investment in Mozambique. While the deal was not for Nene Junior's own benefit, the PIC went to great lengths to assist his business partner.
2. Steinhoff’s US subsidiary, Mattress Firm, filed for bankruptcy at the end of last week. Steinhoff wildly overpaid for the company in a $2.4 billion deal two years ago: it bought the embattled company for twice its share price at the time. It also took on an addition $1.4 billion in debt. Under its bankruptcy deal, Mattress Firm will close 700 stores.
3. RandGold Resources CEO Mark Bristow – who will become CEO of the world's largest gold firm following a massive deal – resigned from the board of Panthera, a big cat protection organisation, after The Daily Mail published controversial images of Bristow posing next to dead elephants, antelope, gazelle, a hippo, lion, buffalo, zebra, and a leopard.
4. Taste Holdings, which runs Starbucks in SA and owns Domino Pizza and the jewellery chains NWJ and Arthur Kaplan will release its interim results on Thursday. The company suffered a R187 million loss in the previous financial year. Tongaat Hulett will also report its interim results. Management previously expected earnings and cash flows to improve this year. “Returns in the sugar business is expected to increase due to growing sugar production from available milling capacity, with total production expected to be between 1.3 million and 1.45 million tonnes. Within the maize division, focus will be on growing sales volumes and margins by continuing to replace imports with local production,” FNB Securities said in a report.
5. Tomorrow, Old Mutual shareholders will receive 3.21176 Nedbank shares for every 100 Old Mutual shares they own. Old Mutual owns more than half of Nedbank, but will only be left with 19.9% following the unbundling. It believes the market will put a greater value on Nedbank if it is not held as part of Old Mutual group. The move also allows Old Mutual to set up its own bank.
According to a CNBC report, there's a specific time of day you should drink your coffee if you want to feel the best results. Laura Cipullo, a registered dietitian and author of "Women's Health Body Clock Diet," told CNBC that drinking your morning coffee as soon as you wake up could cause jitters and make you feel too hyper.
The sweet spot, she said, is a few hours later.
When you first wake up, your body is full of the stress hormone cortisol, which can make you feel anxious anyway. Adding caffeine into the mix can only elevate this response. It can also make you feel tired and sluggish later on, so you're better off drinking coffee later in the morning, or simply getting enough sleep the night before.
"Have coffee when the body is producing less cortisol, about three to four hours after waking," Cipullo said — so between 9 a.m. and 11 a.m.
Whatever you do, try not to drink coffee in the evening, as caffeine can stay in your system and affect your wakefulness for up to six hours, even though the effect peaks about 30 to 60 minutes after consumption.
Research has shown coffee has various health benefits. It has been connected to better health and a longer life, and having coffee as part of your diet may protect against heart disease, cancer, and dementia.
But it's important to drink it in moderation, because too much caffeine may cause symptoms of anxiety, irritability, and insomnia.
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