1. The rand was at R16.69/$ this morning, after the US Fed indicated that it will keep interest rates near zero through 2022 and maintain its recent pace of bond-buying.

2. MultiChoice posted its first full-year profit and declared its first annual dividend. MultiChoice will also add Netflix and Amazon Prime Video to its DStv platform.

3. During their first day in court, tobacco organisations challenged the cigarette ban because they believe the Minister of Cooperative Governance and Traditional Affairs, Nkosazana Dlamini-Zuma, overstepped her powers. Because of its addictive nature, tobacco is as essential to smokers as food is to everyone and, therefore, it should have been allowed, they contended. But lawyers for the government said Dlamini-Zuma was fulfilling her constitutional obligation, which demands of her to act fast when "emerging" literature suggests that smokers have a higher risk of developing a more severe form of Covid-19.

4. Sanlam’s net earnings fell 26% for the first four months of the financial year, ended April 30, from the year-ago period. Sanlam Investments has launched three funds with a target of raising R7 billion to support a range of businesses as they navigate the headwinds of Covid-19.

5. Old Mutual non-executive director Paul Baloyi, has resigned from his position with immediate effect. Baloyi's resignation follows that of another director, Nombulelo Pinky Moholi, who quit last year in the midst of a protracted legal battle between the company and its former CEO Peter Moyo.