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CIPC commissioner tenders resignation

Companies and Intellectual Property Commission commissioner Astrid Ludin says she is resigning, there ‘seems to be concentrated effort’ to remove her

Financial Services

KTH plans on a R1bn acquisition in months

Picture: THINKSTOCK

Company also considering equity capital raising, which may lead into a listing or private placement in the next 18-24 months

Business

CIPC head faces suspension

Picture: THINKSTOCK

Another senior public service sector head, Astrid Ludin of the Companies and Intellectual Property Commission, receives suspension notice over allegations related to procurement of services and payment of salaries

Retail & Consumer

Pick n Pay’s recovery plan pays off

Richard Brasher. Picture: BLOOMBERG/SIMON DAWSON

Figures are unlikely to shoot the lights out … but they should go a long way in convincing the market the retailer’s turnaround has gained at least some momentum

Energy

Molefe at Eskom for long haul, says Lynne Brown

Brian Molefe.  Picture: PUXLEY MAKGATHO

Brian Molefe ‘to optimise the skills at Eskom, in much the same way he turned around the Public Investment Corporation when he was its CE between 2003 and 2010’

Financial Services

FirstRand names RMB investment banking unit chief

Sizwe Nxasana. Picture: MARTIN RHODES

James Formby appointed deputy head of Rand Merchant Bank’s investment banking unit in 2009 and takes over as CEO at the end of September

Property

Redefine all set for August takeover of Fountainhead

Redefine Properties' head office in Rosebank, Johannesburg.

Redefine is aiming to expand its portfolio in a market with few acquisition opportunities

Roger Foster. Picture: FINANCIAL MAIL

CemAir mulls new routes to small towns

The only airline in SA that allows pets on board may expand to other small towns following requests for Kimberly and Hoedspruit routes

Business Times

Investors say they may blacklist hacked firms

Picture: THINKSTOCK

Less than half of company boards are thought to have skills needed to manage the rising threat of cyber attacks, says a survey. Four of five respondents suggest they may blacklist those that have been hacked

Transport & Tourism

Judgment expected in Kalawe’s inquiry case

Monwabisi Kalawe.  Picture: RUSSELL ROBERTS

Judgment in suspended SAA CEO Monwabisi Kalawe’s private arbitration against a disciplinary inquiry and his suspension likely reserved

Opinion

ON THE MONEY: The real Eskom story is: the money

Eskom is bleeding cash for its new build programme, the massively delayed and over budget Kusile and Medupi power stations, writes Stuart Theobald


International companies


Americas

WhatsApp hits 800-million users

Picture: BLOOMBERG

WhatsApp now has 800-million monthly active users, continuing pace of growth that may put mobile messaging app on track to hit 1-billion users later this year

Europe

Tories vow to sell government’s Lloyds shares if elected in May

British Finance Minister George Osborne. Picture: REUTERS

Britain’s government put more than £20bn of public money into Lloyds at the height of the financial crisis in 2008 and 2009 — buying 43% of the bank and has since sold almost half back to investors

Picture: SUNDAY TIMES

Aston Martin turns to China to soup up supercars

Aston Martin will tie up with Chinese company Letv as part of British car maker’s push to incorporate high-end Chinese technology into vehicles
Banking customers. Picture: THINKSTOCK

Banks ombud in push for deposit insurance

Ombudsman’s call for new measure echoes similar calls from the International Monetary Fund that SA introduce a safety net for customers if their bank fails

Asia-Pacific

Tencent beefs up ad share at 58.com

Picture: REUTERS

Naspers’s Chinese associate plans to buy $400m of newly issued ordinary shares from 58.com, which buys a 43% stake in competitor Ganji.com

Asia-Pacific

Car makers ignore China slowdown

Jochem Heizmann, head of VW’s China operations, says the biggest increase of volume is in the budget SUV segment. File picture: BLOOMBERG

Market leaders VW and General Motors show no sign of letting up on their planned investments, while Toyota Motor and Ford Motor are also pursuing new China expansion plans

Mining

Big spending by Royal Bafokeng Platinum on Styldrift

Villagers insist that large-scale mining is taking place on their land against their will. Picture: TIMES MEDIA ARCHIVE

Most of the cash went into the underground Styldrift Phase I project under development in the Rustenburg area

National

Sasol suspends Mozambican project over xenophobia in SA

Foreign nationals pack their belongings to leave a Primrose, settlement in Germiston on Thursday amid threats of xenophobic violence. Picture: PUXLEY MAKGATHO

Fear of reciprocal violence sees Sasol contract project halted and the cancellation of a music event in Zimbabwe

Business Times

Sun Air's sudden departure haunts embattled SAA

SAA. Picture: GALLO IMAGES/ALON SKUY

SAA faces R1-billion damages claim from Johannesburg businessman Robert Watson for allegedly orchestrating the failure of rival airline Sun Air in 1999 and misleading shareholders

Business Times

More disclosure needed from JSE-listed firms

Picture: MICHAEL ETTERSHANK

We all know about the repurchasing activity of big dual-listed entities because they are required by the London Stock Exchange to disclose their repurchases on a daily basis

Retail & Consumer

Brait still flush after Virgin Active coup

Customers take a break at Virgin Active's Soweto gym. Picture: THE TIMES

Investment company Brait seals takeover of 80% of Virgin Active for about R12bn, as CVC Capital Partners looks to exit

Property

Rebosis records 8.2% distribution growth

Sisa Ngebulana. Picture: FINANCIAL MAIL

Flagship East London centre, Hemingways Mall, enjoys 10.5% turnover growth, leading the the fund’s retail assets

Retail & Consumer

Cashbuild shares climb after positive quarterly update

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES

Despite challenging trading conditions, revenue in the third quarter rose 18% as measures around pricing, product selection and cost control paid off

Retail & Consumer

Emerging markets help SABMiller beat estimates

Picture: SUNDAY TIMES

Total lager volumes increase 2% in fourth quarter on strong performance in SA and rebound in Chinese volume growth

Transport & Tourism

SAA has made ‘significant achievements’ in last three months, says Nene

Nhlanhla Nene. Picture: TREVOR SAMSON

State ‘encouraged’ by achievements, but recognises ‘diligent execution of sound strategic plan will be required over several years to ensure airline can operate profitably’

Financial Services

BlackRock seeking investors for markets abroad

Picture: THINKSTOCK

Investment house BlackRock says it is not looking to aggressively invest in listed property in SA

Europe

Nokia agrees €15.6bn deal to buy Alcatel-Lucent

Picture: REUTERS

Finnish group acquiring smaller French rival to build up telecom equipment business to compete with market leader Ericsson

Europe

Nestlé looks to sell frozen-food division to Brakes Group

The Nestlé logo on the company’s building in Mexico City. Picture: REUTERS

World’s largest packaged foods maker is grappling with slowing growth in economies such as China and Brazil

Opinion

STRAIGHT TALK: An alternative to privatisation

There are specific cases where the arguments are overwhelmingly in favour of government-business partnerships, writes Mark Barnes

Opinion

COMPANY COMMENT: Standard Bank; Sappi

Picture: SUNDAY TIMES

Standard’s share is best among ‘big four’, while Sappi is being coy about the cost of its 25MW Ngodwana energy biomass project

Europe

Future of the iconic jumbo jet is up in the air

Emirates CEO Tim Clark says the airline is offering to double its planned purchase of 140 A380s if Airbus carries out a revamp. File Picture: BLOOMBERG

Aircraft sales slump casts doubt on how long production can be sustained, write Alwyn Scott and Tim Hepher

Americas

Bernanke to advise billionaire Ken Griffin’s hedge fund

Ben Bernanke.  Picture: BLOOMBERG/ANDREW HARRER

Former Federal Reserve chairman to become a senior adviser to the Citadel Investment Group

Europe

Ericsson may ring in expansion by acquisition

An Ericsson employee holds a display model of a M7450 modem, developed for smartphones, at the company's laboratory in Lund, Sweden. Picture: BLOOMBERG / LINUS HOOK

Leading mobile telecoms equipment maker Ericsson may buy optical networking operator Ciena or fellow US group Juniper

Business Times

Private-equity poster child Brait beefs up at the gym

Customers take a break at Virgin Active's Soweto gym. Picture: THE TIMES

A Sizeable war chest from the sale of Pepkor enabled investment company Brait to clinch a last-minute deal to buy 80% of the Virgin Active health club chain for R12.2-billion

Business Times

Molefe given SA's worst job

Brian Molefe.  Picture: PUXLEY MAKGATHO

Brian Molefe has stepped into the country's hottest seat after Lynne Brown named him acting CEO of Eskom. His first priority: get runaway load-shedding under control

Opinion

STOCK TALK: Casino rivals unite to increase Cape share

Picture: MICHAEL ETTERSHANK

Ann Crotty looks at Tsogo Sun and Sun International, Zeder and Capespan and Net1-UEPS

Opinion

THE LAST WORD: Eskom fluffs its lines as bosses lose the plot

With a power grid that lost 45% of its available capacity on Tuesday, an executive suite with tumbleweeds blowing through it and rolling blackouts every few hours, Eskom seems to have stopped bothering trying to communicate, writes Rob Rose

Business Times

Please Call Me inventor says Vodacom not off the hook

Nkosana Makate. Picture: SOWETAN

Nkosana Makate, inventor of 'Please Call Me' SMS service, just won't give up. Former Vodacom employee files papers in the Constitutional Court in yet another bid to force the cellular giant to pay for 'stealing' his idea

Business Times

Xenophobia hits MTN, Sasol square on

Lagos, Nigeria. Picture: EPA/AHMED JALLANZO

Officials of Nigerian government hands memorandum to SA, demanding that South Africa take swift action against the attackers — or else South African business in Nigeria would be shut down, say reports

Business Times

Telkom maintenance at risk in fleet dispute

Picture: CHARLES GALLO/GALLO IMAGES

Telkom is at the mercy of the North Gauteng High Court, which will decide whether the state-controlled company must hand back 6 000 vans it has been leasing from Daimler Fleet Management

Business Times

Sanlam's Van Zyl mum on big idea

Johan van Zyl. Picture: MARTIN RHODES

It looks as if Johan van Zyl, outgoing CEO of Sanlam who is credited with turning around what was a lumbering Afrikaans insurance giant back in 2003, may team up with his family in a new business venture

Transport & Tourism

SAA’s latest plan: privatise some bits

Picture: SUNDAY TIMES

Airline carrier SAA will by the end of this month submit recommendations to the Treasury on the parts it could sell

Telecoms & Technology

MTN follows rivals’ lead and hikes prices

MTN. Picture: BLOOMBERG/NADINE HUTTON

Cellphone network operator says reduction in mobile termination rates, increased costs of network investment have ‘necessitated review of pricing’

Trade & Industry

Treasury misses deadline on SAA board

Nhlanhla Nene. Picture: TREVOR SAMSON

SAA to provide update on its 90-day action plan on Thursday, it is unclear if a new board will be announced

Asia-Pacific

Toyota plans factories in China and Mexico

Jim Lentz. Picuture: BLOOMBERG SCOTT EELLS

Car maker faces a production capacity crunch after president Akio Toyoda banned any new plants for at least three years

Industrials

Astrapak unpacks operations in quest for profit

Picture: THINKSTOCK

CEO says packaging conglomerate Astrapak is achieving respectable levels of volume and pricing in its core markets

Retail & Consumer

Windhoek approves Clover listing

Clover CE Johann Vorster. Picture: ARNOLD PRONTO

Namibia is a key driver of Clover’s strategy to establish distribution centres across neighbouring countries, says CE Johann Vorster

Financial Services

Old Mutual surprises with external appointment for new CEO

Bruce Hemphill. Picture: FINANCIAL MAIL

Appointment of Bruce Hemphill brings top management roles of CEO, finance director back into South African hands

JSE Sens

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