News update: Hospitals strain, David Jones sold, and Google and Facebook lawsuit

 News update: Hospitals strain, David Jones sold, and Google and Facebook lawsuit

News update.

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Hospitals strain with surge in Covid-19 infections

Private hospital operators across the entire SA have warned that they are reaching severe capacity constraints as a result of the resurgence in Covid-19 cases. The country initially experienced the Covid-19 pandemic in late July before infections tailed off. Currently, it is facing a second wave just before the beginning of the festive season. Three of the largest hospitals, namely Netcare, Life Healthcare and Mediclinic International, have reported they are facing bed shortages. Four of the most populous provinces have observed a definite rise in Covid-19 patients that need hospitalisation, which has left the healthcare system under severe pressure.

David Jones property sold for R5,6bn by Woolworths

Woolworths, the food and clothing retailer, has announced that it would sell yet another property in Australia in an attempt to further strengthen its balance sheet. This announcement came today as the David Jones Elizabeth Street property located in Sydney was sold for R5,6bn (A$510m). Woolworths’ board of directors believe that this proposed transaction is set to strengthen the balance sheet of David Jones. In addition, it is also said to provide support in the repositioning of the business so that shareholder value can be delivered.

Google and other tech giants back Facebook in lawsuit

Google, Microsoft and several other tech giants have asked for permission to join the legal fight that Facebook currently has against an Israeli company. Facebook has accused the company of installing malware on the mobile devices of unsuspecting users. The federals appeals court was asked on Monday to allow the companies to file a motion to display support in a lawsuit brought by WhatsApp, the messaging service owned by Facebook, last year against the NSO Group.

Chris Louw

Featured Financial Writer for SA Shares - Read more about Chris's Bio -

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