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Telkom CEO Sipho Maseko. Picture: ARNOLD PRONTO

Court summons Telkom CEO to respond to fraud claims

Telkom boss Sipho Maseko to respond to allegations of traffic regulation fraud after investigation that started last July


ArcelorMittal takes a hit as sector bleeds


Steel giant has lost nearly 53% of its value since January, totalling a loss of 84% since September 2011

Land & Agriculture

Nestlé commits to growing chicory industry

Picture: REUTERS

State and Nestlé SA sign a five-year commitment aimed at raising chicory output at Alexandria factory and creating 870 new jobs


Sappi sells Enstra Mill recycling business to Corruseal


The disposal is not categorisable in terms of JSE listings requirements, and the value is undisclosed


Anglo planning job cuts as investors push for bolder overhaul, sources claim

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo American planning to cut staff at head offices around world in effort to respond to commodity price rout , sources csay


Melrose Arch seeks more residents to boost retailers

Meago Asset Managers executive director Jay Padayatchi says retail at Melrose Arch is not performing as planned. Picture: ROBERT TSHABALALA

A R450m residential development launched to boost number of wallets heading to Melrose Arch

Transport & Tourism

Rumbles over Uber as bus system deal inked


City of Johannesburg wants ‘some regulation over moving force’ of app-based taxi service Uber


Pan African expands beyond gold

Pan African Resources’s plan to buy coal mine near Newcastle raises concern it is straying too far from its core precious metals business

Financial Services

FirstRand to buy out DirectAxis minorities

Johan Burger. Picture: BUSINESS DAY

Banking group aims to drive cross-selling opportunities between DirectAxis clients and First National Bank

Odgers Berndtson

Odgers Berndtson connects SA’s top CEOs and MBA students

Odgers Berndtson MD Leon Ayo. Picture: MIKE TURNER

For second year running leading executive search firm Odgers Berndtson will connect SA’s top CEOs and MBA students with its CEO For A Day programme, writes Leon Ayo

Featured Partner


COMPANY COMMENT: Equity markets; Cell C


Equity markets are on an even keel amid Greek financial crisis, while Cell C CEO Jose dos Santos fumes over spectrum allocation that emerged from Competition Commission

International companies


Alibaba arm wants to become Chinese services juggernaut

Alibaba.com's head office in Hangzhou, Zhejiang Province, China. Picture: BLOOMBERG

Ant Financial Alibaba has designs on becoming all-round Chinese giant, is willing to let investors join in as it takes on entrenched state-run institutions


Electrolux set on buying all of GE Appliances


Swedish company defends bid for General Electric’s appliance unit after US justice department moves to block deal


General Electric butters up EU regulators over Alstom deal

Steve Bolze, CEO of GE Power & Water, is part of a team meeting European Union regulators over GE’s €12.4bn bid for French multinational Alstom’s energy unit. Picture: BLOOMBERG/AARON M SPRECHER

GE Power & Water chief Steve Bolze likely to call for a broader assessment of the sector to take into account Chinese rivals, which the commission has excluded from its review of competition


Orange is open to share sale of African, Middle Eastern business

Orange SA says it remains open to selling shares in Africa and Middle Eastern unit or bringing in strategic or financial partner as phone company reviews options for region


Eyebrows raised as ECB adds assets to its purchase plan

'No' in Greek at the European Central Bank in Frankfurt. The bank has added assets to its liquidity programme and has the flexibility to make such adjustments to curb Greek-inspired volatility.  Picture: REUTERS/RALPH ORLOWSKI

The central bank is seeking to foster lending in the eurozone as the crisis in Greece roils markets across the region

Helios chief operating officer Henry Obi says its Fund III has more than $800m looking for a home. Picture: FREDDY MAVUNDA

Helios looks for investment partners

Africa-focused private equity firm 'well placed to share knowledge with South African companies' and has about $800m to invest in businesses in Africa


South32 shares take a beating as commodity prices drop


Some BHP Billiton shareholders who own South32 stock likely to join sell-off to rebalance their portfolios

Telecoms & Technology

PIC scores big in Vodacom stake buy

PIC chief investment officer Daniel Matjila. Picture: TREVOR SAMSON

PIC secured itself a 10% discount when it came to the government’s rescue by buying its 13.9% stake in cellphone operator Vodacom

Telecoms & Technology

Government sells its stake in Vodacom

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

Government agrees to sell stake in mobile network provider to Public Investment Corporation to raise funds Eskom


New Deutsche Bank CEO delays overhaul, warns staff to behave

John Cryan.  Picture: REUTERS

John Cryan delays implementing strategic overhaul by three months, but tells staff to expect tough reforms as he shakes up group he says has become too diversified

Financial Services

Investec plans to spread chief duties

Investec. Picture: MARTIN RHODES

Investec’ s board approves plan that will see group CEO Stephen Koseff and MD Bernard Kantor delegate more of their operational responsibilities — perhaps a sign that group is preparing for their departure

Financial Services

Kagiso Trust plans new equity fund


Partnership with big businesses take centre stage with and the finer details expected in the next few months


European firms feel Aegean waves


Greece’s turmoil ripples across corporate Europe as market rout sabotages planned bond sales and stock offerings


London Metal Exchange has plan to curb long delays

stock data business XXX   Picture: THINKSTOCK

World’s oldest and biggest market for industrial metals, the London Metal Exchange, seeks to bolster oversight of warehouses


STOCKWATCH: Assore shares drop after warning of drop in earnings

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

Shares in mining company slide to 10-year lows after it announces it expects more than 50% decline in full-year headline earnings


Amplats helps miners dig a way out of debt

GAME CHANGER: Amplats’s Rustenburg mine is among those up for sale, in a  development that will offer opportunities for transformation and black  ownership in the mining sector. Picture: SYDNEY SESHIBEDI, THE TIMES

Reducing repayments eases pressure on companies and employers, writes Allan Seccombe


Oando sells downstream assets for $461.3m to ease net debt


Sold downstream assets include Oando Marketing, a fuel retailing business with more than 400 outlets in Nigeria, Ghana and Togo among others


COMPANY COMMENT: Naspers; Coast2Coast


Naspers needs more than a sterling effort while the bigger C2C stake stems from a funding arrangement on one of Ascendis’s earlier acquisitions


BP to pay $18.7bn for Gulf oil spill

A fire blazes aboard the mobile offshore oil drilling unit Deepwater Horizon on April 22 2010. Picture: EPA

Agreement between British oil major and US government comes on top of the $43.8bn BP has already set aside for criminal and civil penalties and cleanup costs


Anglo planning job cuts as investors push for bolder overhaul, sources claim

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo American planning to cut staff at head offices around world in effort to respond to commodity price rout , sources csay


Diageo offloads resort and golf venue


Diageo sells Gleneagles Hotel to group led by private-equity firm Ennismore Capital


Xtract bets on gold in Mozambique

GOLD SMELTING: Job creation could best be achieved by industrial development. It was believed that manufacturing could employ a much higher proportion of workers than mining because of its greater need for skilled labour.  Picture: PIETER DE RAS

Miner focuses on Manica gold prospect in Mozambique as well as a copper dump retreatment project in Northern Cape


Tesla owners gripe over recharge waiting

Elon Musk.  Picture: REUTERS

Tesla owners’ superchargers are the equivalent of gas pumps to quickly recharge their battery-powered vehicles


ON THE MONEY: BEE deals beneficial, but be careful

American and European monetary policy makers are largely to thank for the R317bn in black wealth creation in SA


COMPANY COMMENT: Listed property index; KWV


Property sticking to comeback promise while Paarl-based liquor group KWV’s annual general meeting of probably won’t be a festive occasion given that the over-the-counter share price has stumbled to 550c

Media & Advertising

Naspers sees e-commerce as the key to future growth


CEO Bob van Dijk says India features high in their development spend and M&A spend, as well as Nigeria, SA, Brazil and Turkey

Telecoms & Technology

Stringent terms for Vodacom-Neotel merger

Tembinkosi Bonakele. Picture: FINANCIAL MAIL

Conditions cover black economic empowerment stake and infrastructure investment


German prosecutors investigate Deutsche Bank


Prosecutors say they are investigating five individuals in connection with Deutsche Bank’s participation in global interest rate rigging scandal


Mahindra aims for double-digit growth in Africa

The extended wheelbase provides for a larger load box.  Picture: QUICKPIC

Utility and tractor producer sets up Africa-focused business unit, hopes aggressive expansion will help spur 10-fold increase in business


KWV seeks to tap into Russia and US

Bid for new overseas markets to increase profit and make KWV Holdings a global, diversified alcoholic beverages group

Financial Services

New African Bank set for slow rise from ashes

Tom Winterboer.  Picture: RUSSELL ROBERTS

Questions remain on what led to the failure of the unsecured lender and who should be held responsible

JSE Sens

Standard Bank

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