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Industrials

ArcelorMittal SA’s full-year loss widens dramatically

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Steel maker posts falls in revenue and sales volumes, while its debt position deteriorates, as China’s slowdown brings the steel sector’s growth cycle to an end

Retail & Consumer

Bleaker outlook hits Woolworths stock

Woolworths CEO Ian Moir  presents the group’s results in Cape Town on Thursday. Picture: TREVOR SAMSON

Woolworths CEO Ian Moir reports robust trading, while analyst warns of tough times ahead for retailer in South African and Australian markets

Telecoms & Technology

Telkom set to land contract for state broadband rollout

Picture: THE TIMES

SA’s biggest landline provider inches closer to deal with government to start R750m first phase of broadband rollout

Media & Advertising

SABC TV content deal not a merger, says tribunal

Picture: SUNDAY TIMES

Competition Tribunal rules controversial multimillion-rand content deal between MultiChoice and SABC does not constitute a merger

Retail & Consumer

Italtile profit improves on fewer imports

Picture: THINKSTOCK

Home-finishing goods retailer manufactures 60% of its goods locally and the balance is imported

African Business

Sasol seeks to fuel performance in Africa

Picture: FINANCIAL MAIL

Group in talks to set up chemicals plant with potential African partners while focus fixed on high GDP performers such as Angola, Mozambique and Nigeria

Financial Services

Investec Africa fund closes with almost $300 raised

Investec. Picture: MARTIN RHODES

Investec Africa Private Equity Fund 2 raises $295m war chest to expanded investments in SA and Africa

Retail & Consumer

Woolworths to conserve cash as growth slows

Woolworths. Picture: JAMES OATWAY

Retailer warns rising interest rates will further pressure South African consumers

Media & Advertising

Moneyweb expects HEPS to plummet

The financial media group says it is ‘reasonably certain’ that HEPS for the six months to end-December will be down 675%-696%

Retail & Consumer

Brait plans to offload Consol and Primedia

Brait CEO John Gnodde. Picture: FINANCIAL MAIL

Spun off companies likely to be listed separately in near future

Picture: MICHAEL ETTERSHANK

NEWS ANALYSIS: Chesa Nyama owner listing short of gravy

Gold Brands listing fails to whet appetite of investors after series of small fast food/restaurant businesses leave lingering bitter taste on JSE, writes Marc Hasenfuss

Industrials

US sales and weak rand lift Sappi’s profit

FUTURE: Workers stand beside storage towers at Sappi’s Ngodwana wood mill in Mpumalanga on  Wednesday. Picture: BLOOMBERG

Weak rand helps boost margins and exports from South African operations, despite increased input costs

Retail & Consumer

Woolworths’ interim dividend climbs more than 30%

Picture: FINANCIAL MAIL

Retailer warns that conditions are expected to become more difficult as rising interest rates will put consumers under more pressure

Asia-Pacific

Isuzu aims for No1 status in Africa

Isuzu truck. Picture: SUPPLIED

South African market a critical platform for success of Japanese truck manufacturer Isuzu on continent

Telecoms & Technology

Bourse censures director of Huge Group over trade

Picture: JSE

JSE publicly censures Huge Group’s financial director, Dave Deetlefs, for breaching listings rules by trading in shares during a closed period

Mining

CEOs want state to take ‘decisive action’

Srinivasan Venkatakrishnan, CEO AngloGold Ashanti. Picture: TREVOR SAMSON

A sense of growing urgency to tackle deepening economic problems in SA has seized the business community and the government

Opinion

COMPANY COMMENT: Anglo; offshore acquisitions

Picture: THINKSTOCK

It is unclear which assets Anglo American will shed while the rising allocation of capital for offshore acquisitions points to dire conditions in South Africa

Opinion

Smaller two of the big four brewers scramble to up their game

DEBT BREWING: AB InBev agreed to buy SABMiller in October for about $110bn. Picture: REUTERS

Heineken has a 16.5% reported operating margin and Carlsberg 12.9%, compared with Anheuser-Busch InBev’s 31.9% and SABMiller’s 20.3%


International companies


Media & Advertising

Twitter shares slump to record low as user growth stalls

The shadows of people holding cellphones fall onto a backdrop projected with the Twitter logo in this picture taken in Warsaw. Picture: REUTERS

More than 20 brokerages have cut price targets on the social media website’s shares, which have fallen more than 50% since CE Jack Dorsey returned in July

Europe

Punters see glass half empty even though Pernod gains market share

DOWNER: Shares in Pernod Ricard, the maker of Ricard anisette liqueur, fell 7% as it posted interim sales figures on Thursday. Picture: BLOOMBERG/CHRISTOPHE MORIN

Shares tumble after world’s second-biggest distiller fails to catch Chinese rebound wave

Mining

Rio Tinto slumps to annual loss

Rio Tinto’s Hamersley Iron ship is loaded with iron ore in Western Australia in this undated company handout photo. Picture: BLOOMBERG

Miner scraps its promise to maintain or lift its dividend annually from this year onward as prices for iron ore and copper plummet

Jes Staley. Picture: BLOOMBERG/DANIEL ACKER

Calls for more cuts at Barclays

JPMorgan Chase advises British bank to deepen cuts at investment bank as outlook deteriorates further

Companies

Tesla promises to make money this year

Tesla Motors co-founder and CEO Elon Musk put his staff on crisis footing in 2013 to deal with problems surrounding the Model S. File picture: BLOOMBERG

Electric luxury car maker tells investors it will turn a profit on an adjusted basis, company shares increase sharply as a result, despite a wider fourth-quarter loss

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

Kumba in rail talks amid cut in expenses

Producer aims to be debt-free by year-end but it faces headwinds including unexpected tax demand for R1.8bn payment

Mining

Terse exchange as indaba discusses manganese

Roger Baxter.  Picture: SOWETAN

Department insists it wants manganese beneficiated in SA despite the South African processing industry shutting smelters

Property

Rockcastle aims to Polish success with Czech investments

Rockcastle CEO Spiros Noussis. Picture: SUPPLIED BY ROCKCASTLE

Assets in Poland helped it grow its dividend 8.2% in the first half of its financial year, in line with market expectations

Companies

Glencore reports drop in copper production

Picture: THINKSTOCK

Mining and trading company sells $500m of future precious metals output from its Antapaccay mine to Franco-Nevada in attempt to reduce its debt

Companies

SABMiller to sell off European beer brands to Japanese brewer

DEBT BREWING: AB InBev agreed to buy SABMiller in October for about $110bn. Picture: REUTERS

SABMiller’s ownership of the brands is seen as a stumbling block for Anheuser-Busch InBev’s proposed $108bn acquisition of the brewer

Mining

AngloGold suspends search for partnerships in Ghana and Colombia

Srinivasan Venkatakrishnan, CEO AngloGold Ashanti. Picture: TREVOR SAMSON

Last year, AngloGold Ashanti outlined a plan to cut debt and restructure its asset portfolio, as the gold miner deepened its focus on profit margins rather than output

Retail & Consumer

Sovereign blocks rival in BEE scheme

Picture: THINKSTOCK

Poultry group's total cost of revised repurchase offer will be R32.4m — significantly less than R70m Sovereign could have forked out

Mining

Aquarius Platinum posts high output at local mines

Picture: THINKSTOCK

Mining companies seek to maximise lower-cost output as commodities downturn deepens

Companies

Atlantic Leaf Properties raises R1.14bn in capital

Picture: THINKSTOCK

Atlantic Leaf property fund to deploy new capital raised into UK-based assets

Telecoms & Technology

Altech subscriber base may be sold

Picture: REUTERS

Competition Tribunal fells opposition to R1.5bn sale of cellphone service provider Altech Autopage’s subscriber base to MTN, Vodacom and Cell C

Management

Labour broking laws questioned

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL

Adcorp CEO Richard Pike attributes loss of 20,000 temporary workers to misunderstanding legislation rather than ‘a testament of the new law’s success’

Property

Nepi a shining star in listed property sector

Picture: THINKSTOCK

New Europe Property Investments achieves 62% return last year, ranking it second-best in listed property sector

Industrials

Bidvest opts for Foodservice listing on JSE

Bidvest CE Brian Joffe. Picture: FINANCIAL MAIL

Analyst sees positive response as local listing of Foodservice business is quicker, less complex and less costly

Mining

SA company secures licence for fuel cell plant

Platinum. Picture: REUTERS

Government supports fuel cell initiative to stoke demand for platinum with component plant expected to be ready in 2018

Europe

Heineken increases dividend by more than expected

Heineken. Picture: BLOOMBERG/RON ANTONELLI

Brewer says margin expansion in 2016 is expected to be in line with its medium-term target, although it warned that emerging markets may be volatile

Retail & Consumer

Sports group boosts sales 12%

Picture: REUTERS

Sports gear lovers boost sales at Sportsmans Warehouse while Outdoor Warehouse again under pressure

Industrials

Lower costs lift Sappi’s North American business

FUTURE: Workers stand beside storage towers at Sappi’s Ngodwana wood mill in Mpumalanga on  Wednesday. Picture: BLOOMBERG

The wood pulp, paper pulp and paper-based solutions group says operating performance in the quarter was strong and substantially above the year-earlier period

Property

Hyprop invests in East European malls

Picture: THINKSTOCK

South African shopping mall owner buys significant stakes in malls in Serbia and Montenegro for about R2bn

Mining

Master Drilling unveils new concept at indaba

Danie Pretorius. Picture: TREVOR SAMSON

CEO Danie Pretorius says Master Drilling’s ground-breaking way to sink shafts combines technologies into single patented machine

Financial Services

Alexander Forbes reshuffles top team after CEO suddenly quits

Edward Kieswetter. Picture: MARTIN RHODES

With no successor in place chairman Sello Moloko and chief financial officer Deon Viljoen have taken over as executive chairman and interim CEO respectively

Transport & Tourism

Montana denies benefiting from Prasa contracts

Prasa chairman Popo Molefe and acting CEO Nkosinathi Khena face a tough job putting the rail parastatal back on track. Picture: PUXLEY MAKGATHO

Prasa chairman Popo Molefe’s affidavit paints a picture of flouting of procurement procedures to benefit Siyangena Technologies and raises questions around former CEO's upmarket home

Property

Fortress grows first-half B-unit dividend more than 100%

Mark Stevens.  Picture: RUSSELL ROBERTS

The dividend growth for the interim period attributable to the A share was calculated using data supplied by Statistics SA, and was 4.8%

Telecoms & Technology

MTN being sued by Etisalat over deal with Nigeria’s Visafone

A man enters a customer’s mobile cellphone sim card details on an MTN Group Ltd. registration machine at a roadside kiosk in Lagos last week.   Picture: BLOOMBERG/GEORGE OSODI

Telecoms firm Etisalat said MTN’s purchase of internet provider Visafone could create a dominant data services market player in Nigeria, harming competition

Mining

Kumba’s R1.8bn additional tax bill makes a bad year worse

The Kumba Iron Ore mine at Sishen in the Northern Cape. Picture: KEVIN SUTHERLAND/SUNDAY TIMES

Kumba Iron Ore’s earnings plunged in the year to December, mainly due to a R6bn impairment at Sishen, but it is ahead of target on cost cuts

Americas

ESPN’s decline eclipses The Force Awakens

Wall Street. Picture: REUTERS

Sports network posts a fall in quarterly profit, overshadowing the success of Star Wars: The Force Awakens, which lifted the company to record income

Asia-Pacific

Facebook’s India stumble could embolden other regulators

Facebook is using new features to lure advertisers in India, where revenue per user lags far behind the US. Picture: REUTERS/RICK WILKING

India rules against differential data pricing but Facebook could challenge ruling in courts, say analysts

Management

When women comprise a third of executives, firms are more profitable

While women account for more than 60% of tertiary degrees in SA, the gender wage gap as well as social pressures deter them from pursuing MBAs and other postgraduate studies. Picture: BLOOMBERG

The massive study showed that larger companies appear to appoint more women on boards and in upper executive ranks

Land & Agriculture

Illovo parent indicates interest in buying rest of company

Sugar cane. Picture: BLOOMBERG

Associated British Foods currently owns a 51.35% stake in locally listed Illovo, but Illovo says there is no certainty that discussions will result in a transaction

Financial Services

Old Mutual sells its stake in Rogge in a major disposal

Bruce Hemphill. Picture: FINANCIAL MAIL

Deal is Old Mutual CEO Bruce Hemphill’s second major disposal since firm sold off parts of its Bermudan unit in December

Mining

Amplats restructure reverses cash woes

Chris Griffith. Picture: MARTIN RHODES

Extensive restructuring in response to 27% drop in platinum prices despite annual supply deficit, says CEO Chris Griffith

Europe

VW sets sights on US to keep on trucking

CO-OPERATION: Volkswagen is looking to take advantage of synergies between its MAN, Scania and 
own-name truck brands. Picture: BLOOMBERG/JOCHEN ECKEL

Volkswagen’s heavy-truck division seeks to reap benefits of more independence within its rapidly reorganising parent company

Transport & Tourism

Sanral bond issue success suggests it is business as usual

Picture: FINANCIAL MAIL

Agency still faces uphill battle to bring in revenue from toll fees, following a wide-scale revolt by road users

Mining

South32 targets $1.7bn writedown

Picture: ARDBEL

Producer says 60%-owned Samancor Manganese joint venture will resume production but at ‘significantly reduced volumes’

Retail & Consumer

Spar increases 18-week sales to end-January by 14.1%

Shoppers at a Spar outlet in Rustenburg, North West. Picture: MARTIN RHODES

The increase brought total sales to R24.5bn for the period, and group sales in SA rose 8.4% with ‘internally measured’ inflation amounting to 3.9%

Americas

SpaceX to attempt its second rocket launch of the year later this month

A remodeled version of the SpaceX Falcon 9 rocket rests on its pad. Picture: REUTERS/STEVE NESIUS

Elon Musk’s SpaceX has said it hopes to fire more than a dozen Falcon 9 rocket this year, and is looking to refly its rockets

Telecoms & Technology

Adapt IT targets Africa expansion

Adapt IT CEO Sbu Shabalala. Picture: SUNDAY TIMES

Strong results helped by existing businesses and acquisitions that have widened its geographic footprint

Retail & Consumer

Edcon to cut some of its 3,000 head-office jobs

LONG ROAD:  At a results presentation on Wednesday, recently appointed Edcon CE Bernie Brookes outlines changes the heavily geared apparel retailer is making to bring customers back and streamline operations. Picture: MARTIN RHODES

This is the second round of job cuts at Edcon’s head office, following last February’s retrenchments, and the process is expected to be completed by March

Mining

STOCKWATCH: South32 surges after restructuring announcement

Mining. Picture: SUPPLIED

Miner says its South African manganese division will undergo major restructuring, including laying off 620 employees

JSE Sens

Standard Bank

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Truworths Truworths interims
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