• Tuesday, October 21 2014
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SPARKING GROWTH: An employee works in a ferronickel smelter owned by state miner Aneka Tambang  in the Pomala district in Indonesia's South Sulawesi province. The country accounts for roughly 7%  of the world's total nickel mine output. Picture:REUTERS

Norilsk Nickel sells stake in Nkomati Nickel

10 hour(s) ago

Russian mining company says sale of mine it shared with African Rainbow Minerals marks full exit from its African business

Mining

Wesizwe Platinum set for the ‘perfect storm’

The main shaft at Wesizwe’s Bakubung platinum mine in Rustenburg. Picture: SUNDAY TIMES
19 hour(s) ago

A weak platinum price, which could remain so for up to 18 months, had rendered a large number of shafts unprofitable and capital expenditure had been cut to a minimum, says chief operating office

National

Sasol does not need to use registered mail to distribute AGM notices, says court

Picture: SOWETAN
14 hour(s) ago

Sasol is given permission to distribute notice of AGM to shareholders through means other than mail, because it believes Post Office will not deliver in time

Companies

Vodacom ‘makes sense’ for Vodafone

A customer waits outside the shuttered entrance of a Vodafone store ahead of opening in London. Picture: BLOOMBERG
17 hour(s) ago

With speculation that government’s stake in Vodacom could be up for sale, analyst says it would make sense for its UK parent to buy them

Markets

Platinum stock above ground remains a puzzle

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
19 hour(s) ago

Analysts predicted a surging market as a record five-month labour stoppage in SA wiped out more than 1-million ounces of output worth $1.28bn

Retail & Consumer

Pick n Pay to seek African expansion via Ghana

Richard Brasher. Picture: BLOOMBERG/SIMON DAWSON
20 hour(s) ago

The West African nation is forecast to grow 6.9% this year, way ahead of SA’s less than 2% projection

Business Times

Activist Botha ruffles Tsogo Sun's feathers

Shareholder activist Theo Botha. Picture: RUSSELL ROBERTS
1 day(s) ago

Tension at Tsogo Sun's annual general meeting as shareholder activist Theo Botha gets under the skin of chairman Johnny Copelyn

Business Times

Leaked audit report points to Post Office chaos

Post Office employees on a strike at the Witpost Mail Centre in Ormonde, Johannesburg.  Picture: BAFANA MAHLANGU
1 day(s) ago

Old problems at South African Post Office not addressed as fraud spikes

Ketso Gordhan. Picture: MARTIN RHODES

CEO resignation puts PPC in tough spot to find successor

Ketso Gordhan’s modest salary may put off candidates, as well as test the saleability of the idea of ‘conscious capitalism’

Business Times

Pick n Pay profit up, but analysts worry

Richard Brasher. Picture: BUSINESS DAY
1 day(s) ago

Pick n Pay will have to maintain its momentum for at least three to four years because of demanding price-to-earnings ratio

Business Times

STOCK TALK: Board member brews controversy

Picture: MICHAEL ETTERSHANK
1 day(s) ago

New civil service CEO criticised for topping up salary with SABMiller director fees, writes Ann Crotty

Opinion

Businesses must focus on common good

Picture: THINKSTOCK

Not enough of the ‘benefits’ of business are actually trickling down to society and where it has, it has done so at an immense cost

Opinion

COMPANY COMMENT: PSG; CNH Industrial

Piet Mouton, CEO of PSG. Picture: FINANCIAL MAIL

Enough adventure for PSG for now, while CNH Industrial as begun rolling out buses and extra-heavy trucks from its new Iveco plant in Pretoria


International companies


Americas

Halliburton profit jumps 70% on strong North American market

A man works at the West Qurna oilfield in southern Basra.   Picture: REUTERS
9 hour(s) ago

Oilfield services provider reports 70% rise in net income attributable to company, helped by stronger drilling activity, demand for services in North America

Europe

Private equity firms set sights on failed IPOs

Picture: THINKSTOCK
20 hour(s) ago

Having started the year with a record $1-trillion cash pile, private equity funds have found few chances to spend it, despite pressure from investors wanting them to put the money to work

IndiGo Airlines. Picture: REUTERS FILE PHOTO

IndiGo eyes domination of India’s skies with order of 250 aircraft

This is India’s most aggressive bet yet that Indian air travel is on the cusp of a very large expansion, but there are threats on the horizon
Picture: FINANCIAL MAIL

Pick n Pay turnaround shows modest results

Slower sales volumes and dip in market share signal that its road to recovery might be a longer and bumpier one than expected

Europe

London Mining throws in the towel

Picture: THINKSTOCK
4 day(s) ago

Iron-ore miner, which owns the Marampa mine in Sierra Leone, has been battling high costs, a sharp drop in iron prices and the impact of the Ebola

Mining

AngloGold likely to replace Goldman, UBS after $2.1bn share plan failed

AngloGold Ashanti CEO Srinivasan Venkatakrishnan. Picture: MARTIN RHODES
3 day(s) ago

World’s third-biggest gold producer talking to potential new advisers after having to abandon sale and asset split five days after it was announced in September

Retail & Consumer

Tiger Brands rushes to shore up trust after food recall

Picture: THINKSTOCK
3 day(s) ago

Range of sauces and ready-to-eat rice produced in India recalled after testing positive for banned carcinogenic colourants

Financial Services

WesBank to finance car buyers in Nigeria

Picture: THINKSTOCK
3 day(s) ago

The move into Africa’s largest economy should help FirstRand grow its revenue contribution from the rest of the continent beyond the existing 10%

Mining

Profit shifting report false, says Lonmin

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS
4 day(s) ago

Report claiming Lonmin is engaging in two transfer pricing arrangements is misleading and false, the company says

Opinion & Analysis

Businesses must focus on common good

Picture: THINKSTOCK
1 day(s) ago

Not enough of the ‘benefits’ of business are actually trickling down to society and where it has, it has done so at an immense cost, writes Ansie Ramalho

Property

SA’s Reits to receive environmental rating, says MSCI

Growthpoint Properties' headquarters in Sandton. Picture: FINANCIAL MAIL
4 day(s) ago

Assets under management by signatories of UN’s principles for responsible investment now total about $45-trillion

Retail & Consumer

Pick n Pay half-year profit up 32% on cost cuts

Picture: BUSINESS DAY
4 day(s) ago

Company is in middle of a turnaround plan that includes slashing costs and streamlining its supply chain while still opening new stores

Mining

Department to engage parties on terminated Aquarius Platinum deal

HARD TIMES: Mining is the linchpin of the Rustenburg economy and the town is struggling as a result of the strike. Picture: THE TIMES
4 day(s) ago

Aquarius agreed in January to sell its stakes in its mothballed Blue Ridge Platinum and Sheba’s Ridge Platinum mines to a Chinese consortium for $37m

Retail & Consumer

SA’s Tiger Brands recalls products after finding carcinogens

Picture: THINKSTOCK
4 day(s) ago

Company says it found traces of colourants methyl yellow and Sudan 1 in some of the products made between June and July of this year at a factory in India

Transport & Tourism

Air traffic firm seeks to land growth possibilities

OR Tambo International Airport in Johannesburg. Picture: ACSA
4 day(s) ago

SA’s two state-owned air traffic and airport management firms look to broaden their growth opportunities, with both assisting countries in Africa to build skills capacity

Mining

Waterberg coal miners collaborate on resources

Picture: THINKSTOCK
4 day(s) ago

The three most advanced coal companies in the Waterberg region work with Sasol to develop the area’s coal resources

Telecoms & Technology

Le Roux company buys into Digicore

Capitec chairman Michiel le Roux in this 2007 file picture: Picture: SUNDAY TIMES
4 day(s) ago

Investment firm linked to former Capitec Bank prime mover Michiel le Roux takes sizeable stake in vehicle tracking specialist Digicore

Transport & Tourism

Tsogo aims to sweat assets for growth

Marcel von Aulock.  Picture: MARTIN RHODES
4 day(s) ago

The hotel and casino operator has little room to further improve efficiencies unlike some of its competitors

Telecoms & Technology

Datatec profit falls but group maintains full-year outlook

Datatec CEO Jens Montanana. Picture: ARNOLD PRONTO
4 day(s) ago

Datatec maintains its full-year revenue forecast of above $6bn as it expects a better second-half performance

Telecoms & Technology

Telkom to cut management jobs in turnaround plan

Picture: GALLO IMAGES
6 day(s) ago

Despite unions’ opposition the company will push ahead with cutting an unspecified number of staff as part of a drive to bring down costs by R1bn annually

Industrials

Basil Read restructure of executive team finalised

Neville Nicolau. Picture: BUSINESS DAY
5 day(s) ago

Over the past 14 months, Basil Read has undergone numerous changes to senior management positions including CEO, deputy CEO and finance director

Retail & Consumer

SABMiller Africa region yields best interim growth

CONVERSATIONALIST: SABMiller’s Alan Clark doesn’t seem to fit the CEO categories of psychopath, Machiavelli or narcissist. Picture: FREDDY MAVUNDA
5 day(s) ago

While volumes in the lower-margin soft-drinks business continued to grow, beer volumes dipped 1% on declines in Australia and China

Telecoms & Technology

Vodacom targets growth of data

Vodacom branding on the Ponte Building in Hilbrow, Johannesburg, in 2011. Picture: GALLO IMAGES/FOTO24/FELIX DLANGAMANDLA
5 day(s) ago

The company is spending R9bn to expand and upgrade its network with the aim of having a faster broadband network everywhere there is a voice network

Property

Delta delivers double-digit growth

Property fund. Picture: THINKSTOCK
6 day(s) ago

Delta has shifted its portfolio’s focus from government tenants to being more diverse, including investing R501m in an Africa-focused fund

Opinion

STRAIGHT TALK: Too many rules disable boards

Rules made for boards can often excuse behaviour, rather than guide it

Property

Pivotal brings big portfolio and pipeline to JSE

Phase 1 of Pivotal Property Fund's Alice Lane development in Sandton.  Picture: PIVOTAL PROPERTY FUND
3 day(s) ago

Property punters will soon have another chance to invest in the real estate pipeline of a leading developer when Pivotal Property Fund lists R9.2bn portfolio

Industrials

Quarterly results in line, says Mondi

Picture: THE TIMES
3 day(s) ago

Paper and packaging maker says September quarter underlying operating profit of €174m in line with management’s expectations

Industrials

Bidvest, Grindrod deal abandoned on reputation concerns

Picture: SUNDAY TIMES
4 day(s) ago

Bidvest unable to satisfy itself as to the ‘potential reputational impact from recent negative publicity relating’ to CPS’s social grant contract

Retail & Consumer

Watchdog conditionally approves Clover, Dairybelle deal

Picture: THINKSTOCK
4 day(s) ago

Farmers expressed concerns over the market for the procurement of raw milk and their concerns also relate to continued collusion in market

Opinion

COMPANY COMMENT: Super Group; alcohol advertising laws

A sign on a fence at Ford's stamping operations in Dagenham, London. Picture: REUTERS

Super Group strikes deal to buy Allen Ford, while liquor producers and retailers seem to be on the same page regarding pending laws to ban alcohol advertising

Opinion

COMPANY COMMENT: Glencore; global real estate markets

Picture: REUTERS

Glasenberg set his sights on next target, while South African investors wanting to share in the recovery in global real estate markets are becoming spoilt for choice

Telecoms & Technology

Government considers selling stake in Vodacom to support Eskom, say sources

Vodacom branding on the Ponte Building in Hilbrow, Johannesburg, in 2011. Picture: GALLO IMAGES/FOTO24/FELIX DLANGAMANDLA
4 day(s) ago

The government has approached financial advisers about the possible disposal of its about 13.91% stake in Vodacom

Industrials

Quarterly operating profit in line with expectations, says Mondi

Mondi CEO David Hathorn. Picture: FINANCIAL MAIL
4 day(s) ago

Caroline Learmonth of Barclays Africa equity research says third quarter seasonally weak for Mondi but company on track for year

Mining

Delays end Chinese Aquarius deal

Mine worker.  Picture: EPA
4 day(s) ago

The move raises concerns about the platinum miner’s finances

Telecoms & Technology

Telkom cuts jobs in turnaround bid

Picture: CHARLES GALLO/GALLO IMAGES
4 day(s) ago

Last month 302 managers took voluntary packages and 105 may be retrenched at the month-end

Financial Services

Kagiso Tiso sticking with MMI partnership

Picture: THINKSTOCK
4 day(s) ago

Kagiso says it is happy with its partnership with insurer MMI and looks set to stay invested at least until 2017

Land & Agriculture

Global traders take on banks for agrifinance

Picture: THINKSTOCK
4 day(s) ago

Commodity traders and investors compete for a shrinking market share, writes Gillian Jones

Mining

Aquarius sale agreement with consortium is terminated

Aquarius Platinum CEO Jean Nel
5 day(s) ago

Platinum producer says delay in securing various South African regulatory approvals led to cancellation of agreement to sell two mines to Chinese consortium

Industrials

Dawn approaches global stage after selling stake to Grohe

Dawn CEO Derek Tod. Picture: MARTIN RHODES
5 day(s) ago

Japanese-owned German manufacturer now owns 51% of Dawn’s manufacturing operations

Telecoms & Technology

Telkom expects earnings to slump

Picture: GALLO IMAGES
7 day(s) ago

Telkom says the drop is due to the previous corresponding period’s results being boosted by R2.2bn recognised on post-retirement medical aid liability during the same period last year

Transport & Tourism

Super Group acquires UK Ford motor dealer for R606m

A sign on a fence at Ford's stamping operations in Dagenham, London. Picture: REUTERS
10 day(s) ago

Fleet management company announces it has acquired UK’s second-largest Ford motor dealer, Allen Ford

Transport & Tourism

Low-cost carrier Mango enjoys soaring demand

A Mango plane over the N4 freeway near OR Tambo International Airport. Picture: GALLO IMAGES/SOWETAN
10 day(s) ago

Profitable low-cost carrier owned by state company SAA plans to add new routes and planes as a slower domestic economy increases demand for cheaper flights

Asia-Pacific

Aspen to enter strategic collaboration with GlaxoSmithKline in Japan

PAIN KILLER: Long-term high-dose use of common painkillers are hazardous in terms of heart attack risk.   Picture: THINKSTOCK
11 day(s) ago

Aspen says in terms of this agreement it will hold a 75% equity share in Aspen Japan and GlaxoSmithKline will hold the remaining 25%

Americas

Canada miner eyes bright side of platinum

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
10 day(s) ago

Platinum Group sees room for new SA deposits, write Christopher Donville and Andre Janse van Vuuren

Healthcare

Aspen and GSK work together in Japan

PAIN KILLER: Long-term high-dose use of common painkillers are hazardous in terms of heart attack risk.   Picture: THINKSTOCK
11 day(s) ago

Durban-based group enters agreement in which the UK multinational will take a 25% stake in Aspen’s newly established Aspen Japan subsidiary

 
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
FTSE 100 6267.070.00% same
Dow Jones 16399.670.00% same
All Share 47599.25-0.50% down
ASX 5307.300.00% same
S&P 500 1904.0100.91% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
USD/ZAR 11.0229-0.52% down
GBP/ZAR 17.8132-0.05% down
EUR/ZAR 14.1071-0.09% down
JPY/ZAR 0.1031-0.38% down
AUD/ZAR 9.6823-0.14% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
Gold 1245.9050-0.06% down
Platinum 1263.20000.02% up
Silver 17.41800.00% same
Palladium 759.25000.43% up
Brent Crude Oil 85.270-0.15% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank

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  • ZAR/USD : 11.0229
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    ZAR/GBP : 17.8132
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    ZAR/EUR : 14.1071
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  • Gold : 1245.9050
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    Silver : 17.4180
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    Brent Crude Oil : 85.270
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