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Clover workers strike in demand of union recognition

DELAY:  Clover CEO Johann Vorster says the group will be exporting products to Nigeria on a cash basis only. Picture: MARTIN RHODES

The General Industries Workers Union of SA received certification of nonresolution from the CCMA earlier in April


Eskom seeks information on SA’s junior uranium producers

Eskom Medupi power station.

Eskom is developing a commercial sourcing strategy for ‘uranium‚ uranium conversion services and uranium enrichment services’ needed for Koeberg from 2018 on


Housing development planned near Midrand’s new Mall of Africa

The Mall of Africa. Picture: SUPPLIED

Gauteng premier David Makhura, who sees the mall as a sign of business faith and trust in the province, said it is important people work where they live


Anglo American sells Brazilian asset for more than expected

Picture: REUTERS

Sale of the niobium and phosphate mining business to China Molybdenum for $1.5bn is the latest step in its plan to streamline and cut debt


Union threatens more strike action over salary increases at Post Office

Picture: SOWETAN

Management hoping to find common ground in negotiations and avoid the ‘devastating’ effects of a renewed strike

Retail & Consumer

Pick n Pay to enter Nigerian market


Pick n Pay CEO Richard Brasher says the retailer is not going into the perilous Nigerian waters blind


Redefine confident it can deliver strong payouts


The property company's completion of AUK portfolio acquisition increases the value of its portfolio to £1.5bn


Petra Diamonds stock takes a knock despite strong quarter

Picture: REUTERS

Shares tumble 10% after after China checks prices to contain a speculative bubble

Employees engaging in discussion at Damtshaa Mine.jpg Picture: DE BEERS

De Beers left London for Botswana, transforming lives and a city

De Beers hosts 10 private sales a year in Botswana, attended by up to 200 elite customers from Israel, China, the US and elsewhere a day


Steinhoff folds in Darty auction, hands victory to Fnac

Inside view of an electrical goods company Darty store in Paris, France. Picture: REUTERS

Steinhoff International says it will not raise its offer for French electronics retailer Darty


Chinese company to build R11bn motor plant in Port Elizabeth

The single cab Foton Tunland offers a load carrying ability of 1,130kg. Picture: SUPPLIED

Beijing Automobile International Corporation to be co-funded by the Industrial Development Corporation, with work to start at the end of 2016, or early next year

Retail & Consumer

Online is delivering the goods for retailer

Picture: THE TIMES

Pick n Pay reports a 38% increase in turnover from its online unit

Telecoms & Technology

‘Please call me’ developer 'has no hard feelings' towards Vodacom

Nkosana Makate. Picture: SUNDAY TIMES

Nkosana Makate says he is ready to move on with his life after finally winning his claim in the Constitutional Court

Retail & Consumer

McDonald’s under pressure to commit to cruelty-free eggs

Battery hens. Picture: ISTOCK

Petition is calling on fast food giant to ensure it stops the suffering of battery-bred hens and commit to using cage-free eggs


POINT OF ORDER: Mining BEE delivers the worst result possible

Mineral Resources Minister Mosebenzi Zwane has incentivised a new wave of politicians to demand instant billionaire status as workers' wages go up in smoke

International companies


Sanofi publicly announces intention to buy Medivation

An employee assembles an injection-pen for the diabetes drug Lyxumia at a manufacturing site of French drug maker Sanofi in Frankfurt, German. Picture: REUTERS/RALPH ORLOWSKI

The decision to target oncology pharmaceuticals firm Medivation marks a return to the biotech takeover trail by French drug maker Sanofi


Elon Musk gives his companies unusual financial help

Elon Musk.  Picture: REUTERS

Musk dismisses concerns that using his shares to obtain loans to buy shares in his companies when they need capital is risky to shareholders


Some good news from the US for Mitsubishi Motors in fuel economy furore

Mitsubishi Motors' showroom at its headquarters in Tokyo, Japan. Picture: REUTERS

The car maker’s US vehicles have accurate mileage readings, lowering the risk of increasing fallout from the scandal and sending its pummelled shares up 8%


Drop in first quarter net profit for Lloyds Banking Group

Antonio Horta-Osorio. Picture: BLOOMBERG/LUKE MACGREGOR

Underlying pre-tax profits were largely stable and the group had a strong balance sheet after ‘robust’ financial performance


Barclays to sell Barclaycard units in Portugal and Spain to Bancopopular-e

The sale will result in the transfer of 800,000 customers and about 500 employees, a spokeswoman for Barclays says


Galaxy S7 smartphone a winner for Samsung, as profits pick up

The Samsung S7 and S7 edge smartphones. Picture: REUTERS

South Korean firm’s mobile division is its biggest earner, seen as a sign that the company is overcoming two years of shrinking profits and market share losses


Boeing misses quarterly profit target on US tanker charges

Picture: REUTERS

Boeing’s struggle to develop the first new US tanker since the 1980s has added to skittishness among investors


Millions switched networks since 2006

The effect on competition of subscribers keeping numbers when changing networks is unclear, writes Thabiso Mochiko

Retail & Consumer

Pick n Pay to step cautiously into Nigerian market

Picture: THE TIMES

Retailer says it cannot ignore the West African country in its quest for long-term sustainable growth, but acknowledges the risks involved


Mall of Africa to open its doors to array of local and global tenants

The Mall of Africa. Picture: SUPPLIED

Tenant list includes first-time openings for foreign brands French clothing chain The Kooples, the US’s Armani Exchange, Zara Home and outdoor sports group, Helly Hansen


Clean results show drop in Barclays income muted

CHARGE FREE:  Barclays US Corporate headquarters in New York. Barclays in London said revenue at the investment bank fell less than expected in turbulent markets and the firm avoided new misconduct charges. Picture: REUTERS/MIKE SEGAR

CEO Jes Staley is dissatisfied with the results and will deepen cost cuts including reducing pay at the securities unit

Media & Advertising

Almost two-thirds of South Africans use video-on-demand


However, Nielsen’s Video-on-Demand Survey shows that many South Africans have expressed a desire for more choice and less advertising


Brown praises Eskom for reducing spend on diesel and halting load shedding

Public Enterprises Minister Lynne Brown. Picture: TREVOR SAMSON

Public Enterprises Minister Lynne Brown said in her budget speech that Eskom would deliver the remainder of Ingula in the next year

Telecoms & Technology

Datatec shares dive on profit warning


Headline earnings per share in the year to February are anticipated to have declined by 51% from a year ago, but the company intends maintaining a full-year dividend


Italtile to buy controlling stake in Ceramic

Italtile tile display. Picture: SUPPLIED

Italtile says deal will benefit both groups, it plans to settle 50% of the acquisition in cash and undertake the rest in a renounceable rights offer


PIC alarmed by ‘excessive’ payment to former MTN boss

Sifiso Dabengwa. Picture: MARTIN RHODES

Public Investment Corporation says it has told the cellphone network operator that it is strongly opposed ‘to what we see as gross misuse of shareholder funds’

Telecoms & Technology

‘Please call me’ creator wins claim against Vodacom

Nkosana Makate. Picture: SOWETAN

Nkosana Makate took Vodacom to the Constitutional Court last year claiming millions from the company for his contribution to developing the ‘please call me’ idea


Zimplats boosts Implats’s third-quarter output

Mining. Picture: SUPPLIED

The start of an open-pit operation at its Zimbabwean unit has helped to compensate for the loss of production at the Bimha mine


SMEs need new types of lending


Technology and the sharing economy offer some alternatives to ease growing funding constraints at SMEs

Retail & Consumer

Pick n Pay apologises for ‘horrible incident’ in Mitchells Plain store


Retailer says the incident involving an elderly woman and her grandson could have been handled better, manager has been ‘dealt with severely’


Sony reports biggest annual operating profit since 2007

It is commonplace for highly paid workers to take the last train home in Japan, where a proposed new law to remove overtime is proving controversial. Picture: REUTERS/ISSEI KATO

Gains were the result of cost cutting in its smartphone business and demand for PlayStation 4 videogames, but were clouded by losses in its devices business


Apple expects to report slowdown in iPhone sales

DEMAND: People wait in line as the Apple iPhone 6s and 6s Plus go on sale at an Apple Store in Los Angeles, California in September 2015. Picture: REUTERS

Apple warns investors that its quarterly earnings report will bear bad news about iPhone sales


Mitsubishi Japan car orders fall amid scandal

Mitsubishi Motors president Tetsuro Aikawa, centre, and MD Shuichi Aoto attend a news conference in Tokyo, Japan, on Wednesday. Picture:  BLOOMBERG/TOMOHIRO OHSUMI

Shares plummet as the car maker’s daily orders in Japan halve after the April 20 announcement it has committed fuel-economy testing fraud for 25 years

Financial Services

Standard Bank CEOs get hefty pay rises

Standard Bank joint CEO Ben Kruger. Picture: ROBERT TSHABALALA/FINANCIAL MAIL

The combined compensation for Standard Bank’s joint CEOs Sim Tshabalala and Ben Kruger rose 43%, after full-year profit climbed by a third

Transport & Tourism

Pretoria to get first rides on new trains

The first Prasa Test Train took to the track at the Medunsa station outside Pretoria on Monday. Picture: THE TIMES

Rail agency Prasa says the first of its new trains will begin running in October between Mamelodi and Pretoria

Retail & Consumer

Fnac in ‘final bid’ to top Steinhoff’s hot and hectic pursuit of Darty

Customers walk in front of a shop of electrical goods retailer Darty in Lampertheim near Strasbourg, France. Picture: REUTERS

There’s a high chance Steinhoff will counteroffer as the target company is extremely attractive for both suitors, say analysts

Retail & Consumer

SABMiller’s BEE scheme may delay takeover

NEGOTIATIONS:  Economic Development Minister Ebrahim Patel has reached an agreement with AB InBev CEO Carlos Brito on public interest issues in AB InBev’s takeover of SABMiller. Picture: TREVOR SAMSON

Union Fawu says it has ‘fundamental differences of opinion’ on AB InBev’s public interest agreement


Industry panics at draft Mining Charter

Mosebenzi Zwane. Picture: AFP PHOTO/RODGER BOSCH

Black economic empowerment issues will not go away, but weak commodities market may buy companies some time, writes Nicky Smith

Financial Services

Medu Capital fattens its funds


Private equity firm builds R1.6bn in assets under management in Medu III

Financial Services

Van Zyl guards Sanlam stake against downgrade

Johan van Zyl. Picture: FINANCIAL MAIL

Former Sanlam CEO ties down the value of his Sanlam shares at R54-R74 in ‘zero-cost collar’ deal

Retail & Consumer

Basson chides food stores for using drought as excuse to hike prices

Shoprite CEO Whitey Basson. Picture: RUSSELL ROBERTS

Shoprite CEO Whitey Basson says there are still affordable food options available in the short term to help budgets go further

Telecoms & Technology

SABC in bid to add three more channels


Move comes as the SABC ‘prepares to set up more indigenous language channels as part of its digital migration strategy’

JSE Sens

Standard Bank

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