In today's business headlines

The Rand has been battered by the dollar after the US Federal Reserve Chairman Jerome Powell ruled out extending the cycle of rate cuts;

British American Tobacco shares jumped by more than 8% as smoking alternatives cushioned the decline in cigarette sales;

Woolworths has taken a new hit against its Australian arm;

Insurer Discovery is accusing Liberty of using its incentive program Vitality without permission; and

The Post Office’s CEO Mark Barnes has resigned citing differences on a forward strategy.