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ASPIRATIONS: With potential buyers likely tied up with other deals, Vodafone will be on its own into building up out its internet infrastructure and restoring revenue growth.  Picture: BLOOMBERG

Moody’s downgrades Vodafone to Baa1

11 hour(s) ago

Downgrade reflects the company’s weak operating performance and the expectation of lower cash-flow generation, particularly in Germany and Italy

Mining

Kumba’s premium on lumpy iron ore drops

RAMPING UP PRODUCTION: Kumba Iron Ore CEO Norman Mbazima addresses the media at the group’s results  presentation in Illovo on Tuesday. Picture: MARTIN RHODES
1 day(s) ago

Weaker rand keeps revenue flat as ore prices fall 19%

Mining

Kumba bears brunt of fall in iron ore prices

Kumba Iron Ore CEO Norman Mbazima at media round table on the group's results in Illovo, Johannesburg, on Tuesday. Picture: MARTIN RHODES
1 day(s) ago

Kumba Iron Ore says strong supply of iron ore, particularly from Australia, put pressure on prices, but company pays strong dividend

Industrials

WBHO is another SA firm drawing US investors

Picture: SOWETAN
1 day(s) ago

Construction group launches its sponsored American depositary receipt programme on the over-the-counter market in the US through the Bank of New York Mellon

Telecoms & Technology

Weak demand drags Ellies’ earnings down

Ellies CEO Wayne Samson. Picture: Russell Roberts
1 day(s) ago

Manufacturing group attributes decline to weak demand in its consumer and services unit, and margin pressure

Industrials

Murray & Roberts rises on winning of contract for De Beers’ Venetia mine

Murray & Roberts CEO Henry Laas. Picture: FINANCIAL MAIL
1 day(s) ago

Underground diamond mine project in Limpopo is set to see overall investment of about R20bn over seven years

Mining

Amplats unveils details of mine sales

Chris Griffith. Picture: MARTIN RHODES
2 day(s) ago

Number of suitors show interest, while Amplats gives no time-line for sale and names no potential buyers for the assets

Mining

Amplats debt position worsened

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

‘Very weak’ interim results irrelevant after five-month work stoppage, analyst says

Picture: THINKSTOCK

Country’s shareholders need greater say on executive pay

The exact nature of any ‘say on pay’ regulation should be coupled with an equally vigorous debate on regulation and policy related to job creation, writes Jon Duncan

Financial Services

Banks ‘are focusing on traditional business’

Picture: THINKSTOCK
1 day(s) ago

As banks build capital buffers in response to regulatory pressure, they are ditching riskier businesses and focusing on traditional banking

Markets

Investors seek metals on gains in demand

Picture: THINKSTOCK
1 day(s) ago

But analysts predict 2014’s rallies will end, write Agnieszka Troszkiewicz and Luzi Ann Javier

Opinion

COMPANY COMMENT: Oil price; retail groups

Picture: THINKSTOCK

SA more vulnerable to oil price volatility, while South African retail groups seem to have a hunger for global growth and scale

Opinion

ON THE MONEY: New credit legislation could deliver a fresh blow to African Bank

African Bank is already against the ropes after vast bad debt write-offs


International companies


Americas

Lockheed Martin’s aircraft division sees its stock soaring

22 hour(s) ago

US government contractor tops analysts’ estimates for second-quarter profit and sales on the strength of its aircraft division

Americas

Herbalife rises as accusations fail to impress

Traders work at a post that trades Herbalife stock on the floor of the New York Stock Exchange in January 2013. Picture: REUTERS
22 hour(s) ago

Herbalife shares rebound as much as 14%, as hedge-fund manager Bill Ackman struggles to convince investors the seller of weight-loss shakes is guilty of fraud

Americas

DuPont forecasts rise in profit

22 hour(s) ago

US chemicals producer forecasts higher third-quarter profit across most of its business units

Asia-Pacific

China’s Xiaomi plans to challenge Samsung and Apple

Picture: THINKSTOCK
22 hour(s) ago

In just four years, Xiaomi Corporation has evolved from startup to outselling Apple in China by offering inexpensive devices packed with high-end features

Markets

Investors seek metals on gains in demand

Picture: THINKSTOCK
1 day(s) ago

But analysts predict 2014’s rallies will end, write Agnieszka Troszkiewicz and Luzi Ann Javier

Picture: MARTIN RHODES

Microsoft to focus on ending Nokia’s losses

Software company announces intention to get loss-making phone unit to break-even within two years, stock rises in after-hours trade

Europe

Credit Suisse set to exit commodities

Credit Suisse Group CEO Brady Dougan. Picture: BLOOMBERG
1 day(s) ago

Credit Suisse will exit commodities trading and cut expenses at its foreign exchange and rates businesses, as a $2.6bn fine to settle a US tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008

Europe

Royal Mail cuts revenue forecast

A Royal Mail postbox in Manchester, northern England. Picture: REUTERS
1 day(s) ago

Britain’s Royal Mail says growing competition cut its revenue expectations from parcel deliveries, leaving it reliant on tight cost control and its traditional letters business

Middle East

Saudi Arabia to welcome foreign money to bourse

1 day(s) ago

Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year

Picture: THINKSTOCK

Small firms may not be South Africa's saviours

Ebrahim-Khalil Hassen: Re-examine the belief that a million start-ups will create jobs and assets

Europe

Number of US shares in dark pool falls further

Picture: BLOOMBERG/CHRIS RATCLIFFE
2 day(s) ago

Barclays sees the number of US shares traded in its dark pool decline for a second week after being sued by New York for allegedly lying to customers

World

NEWS ANALYSIS: Brics banks unlikely to unseat IMF, World Bank

Picture: REUTERS
2 day(s) ago

By creating their own multilateral financial institutions, the Brics emerging-market powers are shaking up global economic governance

Asia-Pacific

Malaysia Airlines offers refund

Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport. Picture: REUTERS
2 day(s) ago

Malaysia Airlines offers full refunds to customers who want to cancel their tickets in the wake of the MH17 disaster

Europe

Britain’s fraud office launches probe into forex rigging

US dollar, euro and Swiss franc banknotes are displayed in a bank in Budapest, Hungary, in this August 8 2011 file photo.  Picture: REUTERS
2 day(s) ago

About 15 authorities around the world are investigating allegations of collusion and price manipulation in the largely unregulated foreign exchange market

Asia-Pacific

China’s brokerages eye IPOs to fund expansion

Picture: REUTERS
2 day(s) ago

Six Chinese securities companies are awaiting approval to sell shares for the first time, writes Aipeng Soo

Europe

Aldi co-founder Karl Albrecht dies at 94

ONLINE SHOPPING:  Tesco says it is building its online business to attract more big-spenders. Picture: BLOOMBERG/SIMON DAWSON
2 day(s) ago

The reclusive businessman who became one of the world’s wealthiest people after co-founding the Aldi discount supermarket chain after the Second World War has died

Americas

Allergan cuts jobs to avoid hostile takeover by Valeant pharmaceuticals

Picture: REUTERS
2 day(s) ago

The maker of the Botox wrinkle remover will cut 1,500 jobs and eliminate another 250 vacant posts as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International

Europe

UK to probe alleged rigging of global currency market

Picture: THINKSTOCK
2 day(s) ago

UK prosecutors prepare to open a criminal investigation into alleged manipulation of foreign-exchange benchmarks

Europe

Credit Suisse expects record high quarterly loss

Credit Suisse Group CEO Brady Dougan. Picture: BLOOMBERG
2 day(s) ago

Credit Suisse is expected to report its biggest quarterly loss since Lehman Brothers collapsed in 2008 when it publishes results

Retail & Consumer

Woolworths to target growing market share

Woolworths CEO Ian Moir. Picture: FINANCIAL MAIL
3 day(s) ago

David Jones deal in Australia helps give South African retailer a single sourcing approach, writes Zeenat Moorad

Retail & Consumer

Pepkor buys New Zealand clothing chain

Shoprite chairman Christo Wiese
3 day(s) ago

New Zealand Stock Exchange-listed Postie Plus is one the country’s oldest retailers

Mining

DRDGold names interim finance chief

DRDGold CEO Niël Pretorius. Picture: MARTIN RHODES
1 day(s) ago

Company appoints former Mintails chief financial officer Anthon Meyer as its interim chief financial officer, replacing Francois van der Westhuizen

Mining

Jubilee’s Middelburg smelter complex becomes profitable

Jubilee Platinum CEO Leon Coetzer. Picture: FINANCIAL MAIL
1 day(s) ago

Jubilee reports that revenue from its Middelburg operations is up 44.9% compared with the first quarter, at R17.8m

Business Times

HCI’s exec enrichment defended

Tsogo Sun CEO Marcel von Aulock
3 day(s) ago

Move ‘will benefit shareholders’, says Tsogo Sun’s controlling shareholder HCI

Business Times

Waterberg Coal still in the black, CEO says

Stephen Miller, executive director at Waterberg Coal. Picture: SUNDAY TIMES
3 day(s) ago

Conflicting reports, steep plunge in share price and an ominous silence from owners of BEE shares raise serious questions about the future of the Waterberg Coal Company

Telecoms & Technology

Samsung to establish factory in KwaZulu

A man tours a showroom of Samsung Electronics in Seoul. Picture REUTERS
3 day(s) ago

South Korean electronics giant already has a strong presence in the South African consumer-goods market and will make a multibillion-rand long-term investment in SA

Property

Improving European markets boost Redefine performance

Redefine International CEO Michael Watters. Picture: RUSSELL ROBERTS
3 day(s) ago

Company’s investment portfolio is mainly in Europe and valued at more than £1bn

Financial Services

Sanlam may lift stake in Indian insurer

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

Indian management and control will remain in place if Sanlam increases its stake in the Indian Shriram insurance group

Financial Services

Alexander Forbes investment confirmed

Alexander Forbes. Picture: MARTIN RHODES
2 day(s) ago

Stanlib and Coronation among investors that have taken up shares in financial services firm after a successful placing

Opinion

THE LAST WORD: He who pays the expert calls the tune

There’s nothing like a company crash to reveal just how empty words like ‘independent’ and ‘expert’ can actually be

Opinion

COMPANY COMMENT: Metair; Poynting

Battery connection jolts Metair shares, while Poynting clinches Radio Network Solutions acquisition

Retail & Consumer

New stores help grow Cashbuild’s revenue

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES
1 day(s) ago

Cashbuild says revenue is up 6% for the fourth quarter of its 2014 financial year

Retail & Consumer

Clover-Bowler deal ‘would make sense’

GREEN PASTURES:  Clover CEO Johann Vorster presenting results at the  Crown Plaza Hotel in Rosebank on Tuesday. Picture: ARNOLD PRONTO
1 day(s) ago

Both companies have issued cautionary announcements of negotiations — though neither has revealed with whom

Mining

Amplats to sell mines and exit joint ventures

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
2 day(s) ago

Anglo American Platinum says it will exit Union, Rustenburg mines, Pandora join venture operation as result of capital-constrained environment

Retail & Consumer

Kellogg’s maintenance hits breakfast tables

Picture: BLOOMBERG
2 day(s) ago

Fewer South Africans got it all this morning as maintenance work at Kellogg’s halted production of All-Bran Flakes — and it is unlikely to resume soon

Financial Services

SizweNtsalubaGobodo plans to expand in Africa

Nonkululeko Gobodo. Picture: FINANCIAL MAIL
2 day(s) ago

Local audit and accounting firm SNG will expand its operations into 14 African countries by spring

Mining

Kumba bears brunt of fall in iron ore prices

Kumba Iron Ore CEO Norman Mbazima at media round table on the group's results in Illovo, Johannesburg, on Tuesday. Picture: MARTIN RHODES
1 day(s) ago

Kumba Iron Ore says strong supply of iron ore, particularly from Australia, put pressure on prices, but company pays strong dividend

Business Times

Banks in firing line over R699

Picture: THINKSTOCK
3 day(s) ago

Hundreds of motorists granted urgent Tuesday court hearing

Opinion

COMPANY COMMENT: Woolworths; Anglo American

Picture: REUTERS

Moir clears hurdles to David Jones deal, while all eyes will be on the Anglo American family of companies next week

Opinion

COMPANY COMMENT: Sasol; Platfields

Sasol's headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL

Refund shows Sasol fine was excessive, while Grant Thornton is damning of Platfields, a junior exploration company suspended from trade on the JSE

Companies

Ansie Ramalho appointed project leader on update of King reports

Ansie Ramalho, CEO of the Institute of Directors in Southern Africa. Picture: FINANCIAL MAIL
5 day(s) ago

Institute of Directors in Southern Africa says roles of CEO, project manager of King 3 update have been split, Angela Oosthuizen is new CEO

Mining

Amplats output drops 39% on strike action

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
6 day(s) ago

Platinum output plummets to 715,000oz in the first half of the year to the end of last month compared with 1.17-million ounces a year earlier

Media & Advertising

No cash-flow crisis, says Mail & Guardian CE

Hoosain Karjieker.   Picture: SOWETAN
5 day(s) ago

The Star reports that the M&G is facing a cash crunch so severe that suppliers, contributors and some staff have not been paid for months

Mining

Amplats output drops 39% on strike action

Amplats chief executive Chris Griffith. Picture: MARTIN RHODES
6 day(s) ago

Platinum output plummets to 715,000oz in the first half of the year to the end of last month compared with 1.17-million ounces a year earlier

Mining

Kumba’s Kolomela mine offsets Sishen difficulties

5 day(s) ago

Kumba reports sales for the first half up 2% to 22.5-million tonnes

Business Times

Wonga under NCR's whip

3 day(s) ago

Online micro-lender SA has a month to shape up or face the music

Telecoms & Technology

Logicalis’s revenue falls on effect of World Cup

6 day(s) ago

Datatec’s second-largest unit experiencing a slowdown in trading after football World Cup tournament in Brazil

Financial Services

Alexander Forbes to list on JSE at R7.50 per share

Alexander Forbes. Picture: MARTIN RHODES
5 day(s) ago

Financial services group has successfully placed 431.9-million shares, company delisted in 2007 after it was bought by private-equity consortium

Retail & Consumer

Australian court approves David Jones deal

Picture: REUTERS
6 day(s) ago

Federal Court of Australia gives greenlight to Woolworths planned takeover of David Jones, clearing final hurdle for largest retail buyout in South Africa

Mining

Good news from most of Anglo’s sectors

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

Anglo American production improves, but refined platinum takes knock from strike, reduced production Drayton mine in Australia hits export thermal coal

Mining

RBPlat and NUM sign five-year wage deal

Picture: REUTERS
6 day(s) ago

New agreement between Royal Bafokeng Platinum and National Union of Mineworkers replaces three-year deal, will be implemented in two phases

Industrials

Aveng places R2bn convertible bonds

Aveng CEO Kobus Verster. Picture: RUSSELL ROBERTS
7 day(s) ago

Construction group positions itself for growth, plans to cut reliance on bank financing

Telecoms & Technology

Cwele wants Telkom to share its network

Siyabonga Cwele. Picture: TREVOR SAMSON
6 day(s) ago

Telecommunications and Postal Services Minister Siyabonga Cwele wants Telkom’s competitors to have access to the partly state-owned company’s infrastructure

Mining

Kumba lifts exports despite fall in output at Sishen

Picture: REUTERS
6 day(s) ago

Kumba Iron Ore says rainfall during may slowed mining of waste material at Sishen, but mining plans for second half are being executed

Industrials

Sappi rises on sale of Usutu subsidiary

Steve Binnie. Picture: BUSINESS DAY
6 day(s) ago

Pulp and fine paper products group Sappi concludes sale of a subsidiary, Usutu Forest Products, for R1bn, seeing its share price rise 2.71% to R44.30

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