Flash Briefing: Rees-Mogg switches sides; Kumba, Old Mutual gain; Uber buys Dubai rival; PIC suspends boss

Global ride hailing market leader Uber Technologies has concluded its biggest ever acquisition through the $3.1bn takeover of Middle Eastern rival Careem Networks. Britain’s leading Eurosceptic Jacob Rees-Mogg, who has led much of the fight against prime minister Theresa May’s Brexit deal, yesterday switched sides after it became apparent that the UK may not leave the EU after all. The Public Investment Corporation, custodian of the R2trn state employee retirement fund, yesterday suspended its acting chief executive Matshepo More. A late afternoon rally lifted the JSE all share index to a half percent better close with gaining shares outnumbering losers by almost two to one.