Amid the inflation panic that has sent equity markets weaker this week, Bitcoin has also taken a tumble after Tesla boss Elon Musk said his company would no longer accept the benchmark cryptocurrency as payment for cars due to environmental concerns.

It's not the first time Musk, who has crowned himself the technoking of Tesla, has caused a market stir, as The Finance Ghost discusses in Of false prophets and false profits.

Meanwhile, not all stocks followed the market down yesterday. Long4Life rose after it released full-year results and outlined a list of options it has as it tackles the discount its shares trade at relative to its intrinsic value. Tiger Brands was up on the back of a first-half trading statement, and Famous Brands also improved despite the large impairments that will weigh on its full-year numbers.

Also today, Absa has flagged a big rise in first-half earnings, Steinhoff says it will oppose an urgent application to have it liquidated, and Astoria is selling its controlling stake in CNA just a year after it bought the stationery and gift chain.

It's Friday, so look out for all the latest mergers and acquisitions news from DealMakers too.

Have a great weekend.

Stephen Gunnion

Managing Editor, InceConnect