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Armscor CEO Kevin Wakeford. Picture: THE TIMES

Armscor website hackers ‘did not access classified defence information’

Armscor has since increased the security measures on its website, and is investigating the breach to bring the culprits to justice

Transport & Tourism

Outa now gunning for SAA financial officers and BnP Capital middleman

The lack of a proper ‘end-to-end’ strategy that guides an organisation from strategy design and development to effective implementation and delivery has probably contributed to what is currently taking place at South African Airways. Picture: SUPPLIED

Organisation Undoing Tax Abuse has SAA’s financial officers in its sights after the airline cancels contract with controversial financial services provider

Industrials

ArcelorMittal expects its loss to widen

FIERY:  Chinese steel mills have ramped up production to take advantage of a spurt higher in prices that has given them the best profits this decade. However, output  remaining at such elevated levels definitely adds to oversupply risks on the global market. according to an analyst. Picture: REUTERS

Steelmaker says imports entering the market, primarily from China, continue to threaten the local industry, despite the positive progress made on duties to date

Industrials

Cement maker Lafarge has fired 150 striking workers in SA

Concrete mixing trucks are seen at Lafarge concrete production plant in Pantin, outside Paris. Picture: REUTERS/CHRISTIAN HARTMAN

The company says it did all it could to bring the illegal stoppages to an amicable end, but had to act to protect workers who were being intimidated

Transport & Tourism

Why did SAA appoint BnP in the first place, asks DA

A South African Airways Airbus A320. Picture: SAA

The Democratic Alliance has also reiterated its call to put the airline into business rescue, and says directors have contravened the Companies Act

Mining

AngloGold Ashanti shares get boost as miner returns to profit

AngloGold Ashanti CEO Srinivasan Venkatakrishnan. Picture: MARTIN RHODES

Higher gold prices and weaker currencies helped the group back into the black in its first half

Telecoms & Technology

Telkom plans to offer free calls in bid to challenge rivals

Picture: CHARLES GALLO/GALLO IMAGES

Telkom says it has prioritised mobile data because it has become the central requirement for most smartphone users

Retail & Consumer

SABMiller awaits Chinese approval before granting AB InBev nod

Jan du Plessis. Picture: SUNDAY TIMES

Shareholders at the AGM did not expect the board to put pressure on AB InBev to lift its £44 cash offer price

Energy

DA cries foul over Eskom coal report

Picture: ISTOCK

Access to the report on Gupta-owned Tegeta’s coal deal with Eskom has been refused as it’s still in ‘draft form’

SABMiller CEO Alan Clark will receive as much as R1.2bn in bonuses and share options when the merger with AB InBev is completed. Picture: SABMILLER

SABMiller merger brews skewed rewards

With CEO Alan Clark set to make R1.2bn in the AB InBev takeover, workers in the Zenzele share scheme are trying to get a better deal, writes Fifi Peters

Energy

Brian Molefe deserves no bonus after decision on IPPS, DA’s Mazzone says

Brian Molefe. Picture: TREVOR SAMSON

Eskom’s decision not to sign further power purchase deals with IPPs has alarmed the market and will badly affect private-sector investment in the energy sector

Energy

Eskom decision alarms market

Electricity pylons at an Eskom coal-burning power station near Sasolburg. Picture: REUTERS/SIPHIWE SIBEKO

The effect of a freeze on energy-buying is seen as a devastating move likely to discourage private sector investment

Property

SA Corporate fixes property mix

Picture: THINKSTOCK

Sale of lame assets and residential acquisitions lift fund distributions

Financial Services

Japan Vitality deal boosts Discovery’s expansion in Asia

Picture: THINKSTOCK

The insurer and Sumitomo Life will team up with telecoms company SoftBank on the venture

Opinion

COMPANY COMMENT: Reinet; spectrum licensing

Picture: THINKSTOCK

Reinet share discount walks on the wide side, while the spectrum licensing process may be heading for trouble


International companies


Europe

Vodafone reports better than expected 2.2% rise in Q1 revenue

A customer waits outside the shuttered entrance of a Vodafone store ahead of opening in London. Picture: BLOOMBERG

It attributed the increase to strong performance in Spain and Germany, and listed SA as one of the countries in which the group had excellent performance

Americas

Elon Musk hits the road with his master plan

South African-born tech innovator Elon Musk has a lot on his plate as his company, Tesla, prepares to launch its third electric car. Picture: REUTERS/MIKE BLAKE

Tesla entrepreneur announces his ambitious plan to expand into electric trucks and buses, car sharing, and solar energy systems

Americas

HSBC pair charged over forex rigging

A taxi drives past a branch of the HSBC bank in central London. Picture: REUTERS

Senior manager arrested and charged alongside former foreign exchange executive with engaging in a scheme to front-run $3.5bn transaction by one of HSBC’s clients

Picture: ISTOCK

China’s WeChat takes on WhatsApp in Africa

WhatsApp is more widely used than WeChat, which although almost unknown in some parts of Africa has a suite of additional features

Europe

Bad weather knocks UK retail sales

SLIDE: Shoppers pass a closing-down sign at a Regent Street store in London on Tuesday. UK inflation was up in June. Picture: BLOOMBERG/SIMON DAWSON

British retail sales suffer their sharpest monthly fall in six months in June but stores say that bad weather rather than Brexit is to blame

In modern capitalist countries, amassed economic power defines the royalty of the day, says the writer.  Picture: THINKSTOCK

Investment banks still glum about outlook

Investment banking confidence is still near historical lows, even though it has recovered slightly from the first quarter

Transport & Tourism

Not over, says Outa, as SAA ditches BnP

The lack of a proper ‘end-to-end’ strategy that guides an organisation from strategy design and development to effective implementation and delivery has probably contributed to what is currently taking place at South African Airways. Picture: SUPPLIED

Outa says it served SAA with legal papers just two hours before the airline terminated the BnP deal

Energy

Eskom cuts off private power

Tina Joemat-Pettersson. Picture: TREVOR SAMSON

The power utility is worried producers will undermine its revenue streams

Asia-Pacific

BHP to pull in horns with 44% drop in capex

ENGULFED: The town of Bento Rodrigues in Brazil was flooded with mud after a dam owned by BHP Billiton and Vale burst in November 2015. BHP said on Wednesday that it was not yet in a position to provide an update on the potential financial effect. At least 17 people died in the disaster. Picture: REUTERS

World’s biggest mining company forecasts that iron-ore production could be flat this financial year

Retail & Consumer

Margarine maker settles with watchdog over collusion with Unilever

Margarine. Picture: ISTOCK

Sime Darby Hudson Knight has agreed to pay a fine and to invest in packaging facilities to compete with Unilever, Competition Commission says

Mining

South32 cuts pay off with top manganese output

Nickel ore. Picture: SUPPLIED

World’s largest manganese producer says fourth-quarter production of the element rose 2% on record annual output in Australia

Opinion

COMPANY COMMENT: Oakbay soap shows need for SA account

Atul Gupta. Picture: ROBERT TSHABALALA

Oakbay Resources and Exploration saga becomes more bizarre by the day

Telecoms & Technology

Analysts overlook Vodacom letdown

Vodacom CEO Shameel Joosub. Picture: FREDDY MAVUNDA

Results show Vodacom’s performance is still fairly strong in a tough environment and it is using capital efficiently, say analystsis paying off

Retail & Consumer

SAB suffers overall decline in net producer revenue

Anheuser-Busch InBev and SABMiller branded beers. Picture: BLOOMBERG/HALDEN KROG

Brewer releases quarterly trading update ahead of annual general meeting and shortly after US competition authorities approve its takeover by AB InBev

Telecoms & Technology

Vodacom reports rise in customer numbers in SA

Vodacom branding on the Ponte Building in Hilbrow, Johannesburg, in 2011. Picture: GALLO IMAGES/FOTO24/FELIX DLANGAMANDLA

While Vodacom’s overall subscriber numbers have declined, its total revenue grew during June quarter, according to quarterly update from Shameel Joosub

Retail & Consumer

Pick n Pay minorities oppose new structure

Picture: FINANCIAL MAIL

Shareholders complain Pick n Pay's archaic control structure is being replace by another setup detrimental to their interests

Americas

Microsoft’s wager on the cloud starts to make headway

Satya Nadella. Picture: REUTERS

Sharp growth in commercial cloud computing business helps lift Microsoft’s quarterly revenue

Mining

Lower output hurts Anglo American

Mark Cutifani. Picture: BUSINESS DAY

Quarterly shares plummet amid drop in commodities production

Education

Advtech advances on World Bank unit’s investment

Picture: THINKSTOCK

The World Bank connection is expected to help open doors in Africa for Advtech to identify potential growth centres

Retail & Consumer

Italtile offers to purchase 74% of shares in Ceramic Industries

Italtile tile display. Picture: SUPPLIED

Target shares make up about 74% of the total share capital of Ceramic

JSE Sens

Standard Bank

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