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Kumba Iron Ore CEO Norman Mbazima at media round table on the group's results in Illovo, Johannesburg, on Tuesday. Picture: MARTIN RHODES

Kumba bears brunt of fall in iron ore prices

11 hour(s) ago

Kumba Iron Ore says strong supply of iron ore, particularly from Australia, put pressure on prices, but company pays strong dividend

Mining

Amplats unveils details of mine sales

Chris Griffith. Picture: MARTIN RHODES
14 hour(s) ago

Number of suitors show interest, while Amplats gives no time-line for sale and names no potential buyers for the assets

Mining

Amplats debt position worsened

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
8 hour(s) ago

‘Very weak’ interim results irrelevant after five-month work stoppage, analyst says

Mining

Kumba bears brunt of fall in iron ore prices

Kumba Iron Ore CEO Norman Mbazima at media round table on the group's results in Illovo, Johannesburg, on Tuesday. Picture: MARTIN RHODES
11 hour(s) ago

Kumba Iron Ore says strong supply of iron ore, particularly from Australia, put pressure on prices, but company pays strong dividend

Financial Services

SizweNtsalubaGobodo plans to expand in Africa

Nonkululeko Gobodo. Picture: FINANCIAL MAIL
14 hour(s) ago

Local audit and accounting firm SNG will expand its operations into 14 African countries by spring

Retail & Consumer

Kellogg’s maintenance hits breakfast tables

Picture: BLOOMBERG
14 hour(s) ago

Fewer South Africans got it all this morning as maintenance work at Kellogg’s halted production of All-Bran Flakes — and it is unlikely to resume soon

Mining

Amplats to sell mines and exit joint ventures

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
1 day(s) ago

Anglo American Platinum says it will exit Union, Rustenburg mines, Pandora join venture operation as result of capital-constrained environment

Picture: THINKSTOCK

Country’s shareholders need greater say on executive pay

The exact nature of any ‘say on pay’ regulation should be coupled with an equally vigorous debate on regulation and policy related to job creation, writes Jon Duncan

Retail & Consumer

New stores help grow Cashbuild’s revenue

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES
8 hour(s) ago

Cashbuild says revenue is up 6% for the fourth quarter of its 2014 financial year

Retail & Consumer

Clover-Bowler deal ‘would make sense’

GREEN PASTURES:  Clover CEO Johann Vorster presenting results at the  Crown Plaza Hotel in Rosebank on Tuesday. Picture: ARNOLD PRONTO
8 hour(s) ago

Both companies have issued cautionary announcements of negotiations — though neither has revealed with whom

Opinion

COMPANY COMMENT: Oil price; retail groups

Picture: THINKSTOCK

SA more vulnerable to oil price volatility, while South African retail groups seem to have a hunger for global growth and scale

Opinion

ON THE MONEY: New credit legislation could deliver a fresh blow to African Bank

African Bank is already against the ropes after vast bad debt write-offs


International companies


Asia-Pacific

China’s brokerages eye IPOs to fund expansion

Picture: REUTERS
15 hour(s) ago

Six Chinese securities companies are awaiting approval to sell shares for the first time, writes Aipeng Soo

Europe

Aldi co-founder Karl Albrecht dies at 94

ONLINE SHOPPING:  Tesco says it is building its online business to attract more big-spenders. Picture: BLOOMBERG/SIMON DAWSON
15 hour(s) ago

The reclusive businessman who became one of the world’s wealthiest people after co-founding the Aldi discount supermarket chain after the Second World War has died

Americas

Allergan cuts jobs to avoid hostile takeover by Valeant pharmaceuticals

Picture: REUTERS
15 hour(s) ago

The maker of the Botox wrinkle remover will cut 1,500 jobs and eliminate another 250 vacant posts as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International

Europe

UK to probe alleged rigging of global currency market

Picture: THINKSTOCK
15 hour(s) ago

UK prosecutors prepare to open a criminal investigation into alleged manipulation of foreign-exchange benchmarks

Europe

Credit Suisse expects record high quarterly loss

Credit Suisse Group CEO Brady Dougan. Picture: BLOOMBERG
15 hour(s) ago

Credit Suisse is expected to report its biggest quarterly loss since Lehman Brothers collapsed in 2008 when it publishes results

Picture: BLOOMBERG/CHRIS RATCLIFFE

Number of US shares in dark pool falls further

Barclays sees the number of US shares traded in its dark pool decline for a second week after being sued by New York for allegedly lying to customers

Europe

Britain’s fraud office launches probe into forex rigging

US dollar, euro and Swiss franc banknotes are displayed in a bank in Budapest, Hungary, in this August 8 2011 file photo.  Picture: REUTERS
1 day(s) ago

About 15 authorities around the world are investigating allegations of collusion and price manipulation in the largely unregulated foreign exchange market

Asia-Pacific

Malaysia Airlines offers refund

Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport. Picture: REUTERS
1 day(s) ago

Malaysia Airlines offers full refunds to customers who want to cancel their tickets in the wake of the MH17 disaster

World

NEWS ANALYSIS: Brics banks unlikely to unseat IMF, World Bank

Picture: REUTERS
1 day(s) ago

By creating their own multilateral financial institutions, the Brics emerging-market powers are shaking up global economic governance

Picture: THINKSTOCK

Small firms may not be South Africa's saviours

Ebrahim-Khalil Hassen: Re-examine the belief that a million start-ups will create jobs and assets

Retail & Consumer

Woolworths to target growing market share

Woolworths CEO Ian Moir. Picture: FINANCIAL MAIL
1 day(s) ago

David Jones deal in Australia helps give South African retailer a single sourcing approach, writes Zeenat Moorad

Retail & Consumer

Pepkor buys New Zealand clothing chain

Shoprite chairman Christo Wiese
1 day(s) ago

New Zealand Stock Exchange-listed Postie Plus is one the country’s oldest retailers

Mining

DRDGold names interim finance chief

DRDGold CEO Niël Pretorius. Picture: MARTIN RHODES
8 hour(s) ago

Company appoints former Mintails chief financial officer Anthon Meyer as its interim chief financial officer, replacing Francois van der Westhuizen

Mining

Jubilee’s Middelburg smelter complex becomes profitable

Jubilee Platinum CEO Leon Coetzer. Picture: FINANCIAL MAIL
8 hour(s) ago

Jubilee reports that revenue from its Middelburg operations is up 44.9% compared with the first quarter, at R17.8m

Business Times

HCI’s exec enrichment defended

Tsogo Sun CEO Marcel von Aulock
2 day(s) ago

Move ‘will benefit shareholders’, says Tsogo Sun’s controlling shareholder HCI

Business Times

Waterberg Coal still in the black, CEO says

Stephen Miller, executive director at Waterberg Coal. Picture: SUNDAY TIMES
2 day(s) ago

Conflicting reports, steep plunge in share price and an ominous silence from owners of BEE shares raise serious questions about the future of the Waterberg Coal Company

Telecoms & Technology

Samsung to establish factory in KwaZulu

A man tours a showroom of Samsung Electronics in Seoul. Picture REUTERS
1 day(s) ago

South Korean electronics giant already has a strong presence in the South African consumer-goods market and will make a multibillion-rand long-term investment in SA

Property

Improving European markets boost Redefine performance

Redefine International CEO Michael Watters. Picture: RUSSELL ROBERTS
1 day(s) ago

Company’s investment portfolio is mainly in Europe and valued at more than £1bn

Financial Services

Sanlam may lift stake in Indian insurer

Picture: GALLO IMAGES/CHARLES GALLO
1 day(s) ago

Indian management and control will remain in place if Sanlam increases its stake in the Indian Shriram insurance group

Financial Services

Alexander Forbes investment confirmed

Alexander Forbes. Picture: MARTIN RHODES
1 day(s) ago

Stanlib and Coronation among investors that have taken up shares in financial services firm after a successful placing

Business Times

French watchdog could slash fees

2 day(s) ago

People in a wide range of occupations in France, from notaries and lawyers to chemists and taxi drivers, may have to cut their fees 20% under leaked proposals by the country's financial watchdog

Opinion & Analysis

Why global executives give SA a miss

Picture: THINKSTOCK
2 day(s) ago

No potential CEO wants to deal with the considerable challenges of the SA environment and take an effective pay cut when other emerging markets offer more stability in faster-growth environments, writes Bruce Whitfield

Americas

IBM shares becoming ever more scarce

Ginni Rometty, senior vice president and group executive for sales at IBM, speaks at a company event. Picture: GRAHAM CARLOW/IBM
1 day(s) ago

Fewer shares in circulation means more profit for each piece of stock, helping earnings per share rise even as the company’s revenue declines

Americas

Yahoo retains bigger stake in Alibaba

Picture: REUTERS
5 day(s) ago

Yahoo will return at least half of the cash it reaps from Alibaba’s initial public offering (IPO) to shareholders

Europe

Imperial Tobacco acquires world’s largest e-cigarette brand

5 day(s) ago

Imperial Tobacco Group takes a step into the future as e-cigarette brand is included in the $7.1bn purchase of assets from Reynolds American’s takeover of Lorillard

Mining

Auditors doubt ZCI’s going concern status

5 day(s) ago

ZCI’s auditors and directors raise worries about the ability of the copper mining company to remain as a going concern, with a host of risk attendant in its near future

Americas

Intel rises on strong sales and personal-computer outlook

Picture: REUTERS
5 day(s) ago

Company says revenue in the third quarter will be $14.4bn, plus or minus $500m

World

Reynolds deal benchmark for female execs

CATALYST: Reynolds American President and CEO Susan Cameron, left, gave impetus to a merger with Lorillard. Lorillard chairman, president and CEO Murray Kessler says Ms Cameron transformed unfocused talks. Picture: EPA
5 day(s) ago

Milestone deal for tobacco and women, write Lauren Coleman-Lochner and Selina Wang

Business Times

@*!# me, the crisis has me cussing

Picture: THINKSTOCK
2 day(s) ago

The use of profanities by company bosses peaked after the start of the recession, new research reveals

Opinion

THE LAST WORD: He who pays the expert calls the tune

There’s nothing like a company crash to reveal just how empty words like ‘independent’ and ‘expert’ can actually be

Opinion

COMPANY COMMENT: Metair; Poynting

Battery connection jolts Metair shares, while Poynting clinches Radio Network Solutions acquisition

Business Times

Banks in firing line over R699

Picture: THINKSTOCK
2 day(s) ago

Hundreds of motorists granted urgent Tuesday court hearing

Companies

Ansie Ramalho appointed project leader on update of King reports

Ansie Ramalho, CEO of the Institute of Directors in Southern Africa. Picture: FINANCIAL MAIL
4 day(s) ago

Institute of Directors in Southern Africa says roles of CEO, project manager of King 3 update have been split, Angela Oosthuizen is new CEO

Mining

Amplats output drops 39% on strike action

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
4 day(s) ago

Platinum output plummets to 715,000oz in the first half of the year to the end of last month compared with 1.17-million ounces a year earlier

Business Times

Wonga under NCR's whip

2 day(s) ago

Online micro-lender SA has a month to shape up or face the music

Mining

Kumba’s Kolomela mine offsets Sishen difficulties

4 day(s) ago

Kumba reports sales for the first half up 2% to 22.5-million tonnes

Mining

Amplats output drops 39% on strike action

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
4 day(s) ago

Platinum output plummets to 715,000oz in the first half of the year to the end of last month compared with 1.17-million ounces a year earlier

Media & Advertising

No cash-flow crisis, says Mail & Guardian CE

Hoosain Karjieker.   Picture: SOWETAN
4 day(s) ago

The Star reports that the M&G is facing a cash crunch so severe that suppliers, contributors and some staff have not been paid for months

Opinion

COMPANY COMMENT: Woolworths; Anglo American

Picture: REUTERS

Moir clears hurdles to David Jones deal, while all eyes will be on the Anglo American family of companies next week

Opinion

COMPANY COMMENT: Sasol; Platfields

Sasol's headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL

Refund shows Sasol fine was excessive, while Grant Thornton is damning of Platfields, a junior exploration company suspended from trade on the JSE

Telecoms & Technology

Logicalis’s revenue falls on effect of World Cup

4 day(s) ago

Datatec’s second-largest unit experiencing a slowdown in trading after football World Cup tournament in Brazil

Financial Services

Alexander Forbes to list on JSE at R7.50 per share

Alexander Forbes. Picture: MARTIN RHODES
4 day(s) ago

Financial services group has successfully placed 431.9-million shares, company delisted in 2007 after it was bought by private-equity consortium

Retail & Consumer

Australian court approves David Jones deal

Picture: REUTERS
5 day(s) ago

Federal Court of Australia gives greenlight to Woolworths planned takeover of David Jones, clearing final hurdle for largest retail buyout in South Africa

Mining

Good news from most of Anglo’s sectors

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
5 day(s) ago

Anglo American production improves, but refined platinum takes knock from strike, reduced production Drayton mine in Australia hits export thermal coal

Mining

RBPlat and NUM sign five-year wage deal

Picture: REUTERS
4 day(s) ago

New agreement between Royal Bafokeng Platinum and National Union of Mineworkers replaces three-year deal, will be implemented in two phases

Industrials

Aveng places R2bn convertible bonds

Aveng CEO Kobus Verster. Picture: RUSSELL ROBERTS
5 day(s) ago

Construction group positions itself for growth, plans to cut reliance on bank financing

Telecoms & Technology

Cwele wants Telkom to share its network

Siyabonga Cwele. Picture: TREVOR SAMSON
5 day(s) ago

Telecommunications and Postal Services Minister Siyabonga Cwele wants Telkom’s competitors to have access to the partly state-owned company’s infrastructure

Mining

Kumba lifts exports despite fall in output at Sishen

Picture: REUTERS
5 day(s) ago

Kumba Iron Ore says rainfall during may slowed mining of waste material at Sishen, but mining plans for second half are being executed

Industrials

Sappi rises on sale of Usutu subsidiary

Steve Binnie. Picture: BUSINESS DAY
5 day(s) ago

Pulp and fine paper products group Sappi concludes sale of a subsidiary, Usutu Forest Products, for R1bn, seeing its share price rise 2.71% to R44.30

Financial Services

Investec bonus claim described as ‘fiction’

Picture: THINKSTOCK
5 day(s) ago

Former Investec Bank equity derivatives traders sue the lender for £6.76m, claiming it failed to honour an unwritten bonus agreement the bank describes as a ’fiction’

Financial Services

Visa pushes cheaper remittance service in Africa

Picture: SUNDAY TIMES
6 day(s) ago

Visa is working closely with South Africa’s banks and retailers to open more corridors for consumers to send remittances more cheaply

Media & Advertising

Muthambi stands by Motsoeneng

Faith Muthambi. Picture: GCIS
6 day(s) ago

Communications Minister Faith Muthambi defends permanent appointment of Hlaudi Motsoeneng, pledges to fill other posts soon

World

BAT associate stands to control 33% of US cigarette market with deal

Picture: THINKSTOCK
6 day(s) ago

Combined with Lorillard, Reynolds will have annual revenue of more than $11bn and operating income of about $5bn, making it a bigger competitor to US market leader

Land & Agriculture

Strike ‘no setback to Tongaat Hulett output’

Peter Staude, CEO of Tongaat Hulett.
6 day(s) ago

Sugar producer says despite the recent strike, it plans to crush all available cane this season thanks to its spare milling capacity

Industrials

Group Five finishes Zimbabwean road project early

Picture: THINKSTOCK
6 day(s) ago

Group Five International says it will complete rehabilitation of the 828km road between Plumtree and Mutare this year, ahead of the 2015 deadline

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