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CEO Darryll Castle has been ‘most impressed’ with what he has found as he acquaints himself with PPC’s operations. ‘I am very excited about the company’s future.’ Picture: SUPPLIED

Algeria back in focus as AfriSam deal flops

PPC has yet to decide whether to build a 2-million-tonne-a-year plant in Algeria, a deal put on the table almost 14 months ago


Basil Read loss after ‘terrible year’

Basil Read CEO Neville Nicolau at the annual results presentation at the Hilton Hotel in Sandton on Friday. The company reported a net loss of R821m for the year ended December. Picture: FREDDY MAVUNDA

Construction and engineering group blames tricky trading conditions for loss-making contracts across all its construction operations


African Thunder restarts Smokey Hills


Macquarie Bank will soon become a shareholder in African Thunder Platinum, which will own 69.75% of the restarted Smokey Hills mine


Moody’s says paper makers on right path


Companies have done well to ‘broaden their business profiles away from the mature European paper market’

Business Times

Cement megadeal crumbles


PPC shares rally after it calls off merger with rival Afrisam

Business Times

Vodacom drops price bomb on subscribers

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

Vodacom has pushed the wrong buttons this week, raising the ire of customers furious about an increase in contract prices that will kick in from May

Business Times

A Ponzi deal’s absentee shareholder?


A website has accused Cobus Kellermann of a gigantic global scam, but the businessman denies any wrongdoing

Business Times

Maasdorp’s exit doesn’t add up for maths plan

Leslie Maasdorp. Picture FINANCIAL MAIL

Former Advtech CEO had hoped to launch a maths academy for pupils of public-sector schools


CWU threatens Telkom strike

Union may down tools to try to delay the transfer of outsourced staff to new employers

Retail & Consumer

Rejuvenated Sandton City to see more global brands

Italian fashion designers Stefano Gabbana and Domenico Dolce. Picture: REUTERS

US fashion brand Forever 21 will be an anchor tenant, joined by international designer brands Dolce & Gabbana, Armani, Burberry, Ermenegildo Zegna, Jimmy Choo and Tod’s

Business Times

Suspicious fund skips Mauritius for the Caymans


Belvedere is a confusing and murky tangle of offshore funds, but the most eyebrow raising is its Kijani fund, based in the Cayman Islands

The Field Office

The magic of technology


People are starting to realise just how important technological changes in the workplace are. The trends for mobility and bring your own device (BYOD) are gaining momentum

Brand Voice


COMPANY COMMENT: Andulela; Jubilee Platinum


Andulela Investment Holdings seems to be the perfect stock for investment masochists, while Jubilee finds ConRoast a tough sell

International companies


Lafarge shares drop as Holcim shareholders balk at new deal terms


Shares in French cement group Lafarge fall by about 2% after two shareholders of its Swiss merger partner Holcim appear unhappy with revised deal terms

Business Times

Q&A: Casino group has given us a good ride, but we may flog it — MIC


Business Times tracked down Mary Bomela, the CEO of the Mineworkers Investment Company, which owns 25% of Peermont, and put her on the spot

Airplane of German air carrier Lufthansa lands at the airline's main hub in Frankfurt. Picture: REUTERS

Lufthansa may face unlimited liability

Unusual circumstances surrounding Germanwings crash won’t necessarily free airline and insurers from claims of negligence, aviation lawyers say
Peermont Global's flagship Emperors Palace casino.

Peermont investors to bask in Sun deal

Announcement that Sun International will buy Peermont Global for R9.4bn takes market by surprise, but there is concern that two players will dominate the industry

Middle East

Investors’ gaze fixed on drug maker’s next move

Erez Vigodman, chief executive officer of Teva Pharmaceutical Industries. Picture: BLOOMBERG

Market awaits what deal Teva will brew as court embargo on rivals nears end, writes Gabrielle Coppola

Business Times

Fishy franchisor next in line for liquidation

The Fish and Chips Company. Picture: VELI NHLAPO/SOWETAN

Troubled Old Fashioned Fish and Chips franchising company in line to be liquidated after High Court in Pretoria awards an order to a frustrated franchisee

Business Times

Fountainhead set to accept Redefine’s sweeter offer

Redefine Properties' head office in Rosebank, Johannesburg.

Redefine Properties’s takeover of Fountainhead is back on the table after a change of heart on the part of the target’s largest investor

Business Times

Pattison powers on for US energy company

Massmart CEO Grant Pattison. Picture: BUSINESS DAY

Grant Pattison, who was selling generators as CEO of Massmart until September last year, will now peddle renewable energy solutions


Speculation swirls around possible takeover of Neptune Orient

Neptune Orient said last month it would sell APL Logistics, its supply and freight-management unit, to Japan’s Kintetsu World Express. File Picture: BLOOMBERG

Global shipping company will benefit from the US’s economic recovery and return to profit in 2015, say analysts


Modular mojo: Toyota re-engineers its appeal

Picture: REUTERS

Toyota is looking to cast off reputation for making reliable, but often dull, cars in wide-ranging review of its designs, technologies, factories and supply deals


Westinghouse to appeal court ruling on generator contract

Eskom’s Koeberg nuclear plant looms over Melkbosstrand in Cape Town. Picture: SUNDAY TIMES

Nuclear fuel producer intends to appeal a SA court ruling dismissing its application to have the bidding process of a $334m contract re-opened

Financial Services

African Bank creditors in last-ditch effort

Tom Winterboer.  Picture: RUSSELL ROBERTS

Amendment bill ‘infringes on the rule of law, the right to equal treatment under the constitution, and the right to property’

Telecoms & Technology

Neotel approval delay frustrates Vodafone

Vodafone CEO Vittorio Colao.  Picture: FINANCIAL MAIL

Deal will boost Vodacom’s access to lucrative spectrum enabling it to fast-track its high-speed wireless network roll-out

Media & Advertising

Times Media sees drop in first-half headline earnings


Times Media Group expects headline earnings of 67c per share in six months ended December 2014 from 196c per share in year-earlier period

Financial Services

Capitec looks set to rival big four banks


Main customer haemorrhage appears to have come from Barclays Africa, which used to be dominant with a customer base of between 10-million and 12-million


Investec builds stake in Sydney

Sydney, Australia. Picture: BLOOMBERG/BRENDON THORNE

Group hopes office property, situated in a fast-growing decentralised node in Australia's top city, will attract tenants seeking lower rentals


Jubilee gears up to sell off power assets

Jubilee Platinum CEO Leon Coetzer. Picture: FINANCIAL MAIL

Jubilee bought the smelting assets in Middelburg in 2010 and has invested in them to make them strong revenue generators


Nampak expects R76.4m impairment following sale of flexible division

Andre de Ruyter. Picture: SUPPLIED BY NAMPAK

Packaging group says impairment of about R76.4m will be accounted for in results for six-month period ending March 2015

Financial Services

Big banks set to ‘stay profitable’


FirstRand, Standard Bank, Barclays Africa and Nedbank all grow headline earnings despite weak economic growth

Financial Services

Credit controls steer Capitec higher


Financial results show bank group is managing bad debts and attracting more customers


Telefónica to sell Britain’s O2 for $13.83bn to Hutchison

Telefónica. Picture: BLOOMBERG

Spanish telecommunications company Telefónica reaches deal to sell British cellphone operator to Hutchison Whampoa of Hong Kong


Macau diversifies tourism as casino sector struggles

Macau CE Fernando Chui Sai-On chats with Las Vegas Sands  CEO Sheldon Adelson (right) during the opening ceremony of Sands Cotai Central in  Macau. The city's gaming revenue is expected to fall for a second year. File picture: REUTERS/TYRONE SIU

Macau city’s CE says ‘adjustment’ period of slower growth will need to be counteracted with a broader range of attractions


You can't have it both ways, Vodafone

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

UK parent's antimerger logic holds true in South Africa too


Rio Tinto ‘hopeful’ of Mongolian mine deal

Rio Tinto CEO Sam Walsh. Picture: BLOOMBERG

Company is locked in talks with Mongolia over developing the second stage of the Oyu Tolgoi copper and gold mine, saying only a few matters remain on the table

Business Times

STOCK TALK: Street-savvy managers credited as Capitec shares breach R500


This makes Capitec the most expensive bank to invest in on the JSE, based on its price-to-earnings ratio of 25.7


Berkshire and 3G Capital to take over Kraft

Warren Buffett’s Berkshire Hathaway and Jorge Paulo Lemann’s 3G Capital have agreed to buy HJ Heinz, ending the independence of the iconic tomato sauce maker that can trace its roots to the 1860s. File picture: Bloomberg

Merged with HJ Heinz, Berkshire and 3G will invest another $10bn and call the new giant Kraft Heinz Company


Communication Workers Union may embark on strike at Telkom


Union accuses telecoms provider of ‘ideological bankruptcy’ as it pushes ahead with restructuring that will see some staff transferred to new employers at end of month


COMPANY COMMENT: Conduit Capital; Pallinghurst Resources


Shake-up at Conduit is raising eyebrows, while Pallinghurst Resources has both time and cash on its side, according to CEO Arne Frandsen


COMPANY COMMENT: Microsoft; Transaction Capital

Microsoft. Picture: BLOOMBERG / MIKE KANE

One Window may be closing for Microsoft, while Transaction Capital continues to perform ahead of its growth target

Sisa Ngebulana. Picture: FINANCIAL MAIL

Rebosis in New Frontier takeover

The investment in New Frontier to expose Rebosis shareholders to the attractive UK market


PPC and AfriSam terminate merger discussions


Cement companies say despite ‘extensive discussions’ between them, they have been unable to reach consensus on terms of deal


Metair boosts war chest for massive expansion drive

Metair CEO Theo Loock.  Picture: ROBERT BOTHA

Vehicle-parts manufacturer takes bold growth direction in battery production through acquisitions within the next five years


Mexico gets $350m boost as GM Cruze arrives

Chevrolet cars are seen at a General Motors dealership.  Picture: REUTERS

GM so far has identified only three plants that will make the next-generation Cruze, including in China


Beijing to close more coal-fired power plants

This picture taken last week shows traffic in heavy smog in Beijing. Coal usage in China will fall as cities such as Beijing move to cleaner fuel sources to tackle pollution. Picture: AFP PHOTO

Facing pressure at home and abroad leading polluter China turns to gas-fired stations


SABC board nominee turned down

Media Development and Diversity Agency CEO Lumko Mtimde failed to provide proof of his qualifications. File Picture: FINANCIAL MAIL

Proponent of media appeals tribunal turned down after failing to supply proof of educational qualifications


Wescoal boardroom drama rattles investors


Demand for independent directors comes after two previous calls by shareholders ignored


Audit call ‘triggered’ removal of Eskom execs

Eskom CEO Tshediso Matona. Picture: SIMPHIWE NKWALI

Call for proposals from auditing firms for a review of Eskom’s tendering processes may have been the trigger for the suspensions, with tenders above R300m facing probe


Aurora directors took ‘calculated risk’

Controversial businessman and nephew of President Jacob Zuma, Khulubuse Zuma, arrives for his uncle's inauguration ceremony at the Union Buildings in Pretoria on Saturday. Picture: AFP PHOTO/POOL/MUJAHID SAFODIEN

Liquidators hope to ultimately recover about R1,5bn — which they say was lost due to the actions of Aurora


Lawyer asks court to treat Khulubuse Zuma ‘differently’

Aurora mine workers are pictured here clashing with police after their protest over a lack of food at their hostel and the company's failure to pay their wages. The last remaining 100 workers or so have gone on strike at cash-strapped miner, Aurora's Grootvlei Mine in Springs. Picture:  SOWETAN

During Aurora's time running the mines, pending a full sale, workers went without full pay for four months, assets were stripped and there was illegal mining

Financial Services

Anchor distances itself from Clarus ‘Ponzi’ scheme


Anchor Group CEO says there is no room for impropriety in R300m of Clarus’s unit trusts it administers


Pallinghurst is looking on the upside

Brian Gilbertson. Picture: SOWETAN

Shares climb nearly 4.5% after reporting a more than trebling in annual profit to $55m from $14.7m a year earlier

Telecoms & Technology

Cognition adds sport research to stable


Consulting and research firm buys 63% of BMi Sport Group — its third acquisition in nine months

JSE Sens


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