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Telecoms & Technology

Telkom cuts jobs in push to reduce staff costs

Picture: CHARLES GALLO/GALLO IMAGES

Landline operator says it has agreed to 2,393 voluntary severance packages as it seeks to better compete with mobile-phone companies

Energy

Suspended duo still on board, according to PetroSA

Nosizwe Nokwe-Macamo. Picture: FINANCIAL MAIL

PetroSA denies two suspended executives are behind the resignation of its interim chairwoman

Mining

ArcelorMittal widens losses in first half

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Steel maker says plunging export volumes, increased borrowing costs offset marginal gains from increased local production

National

Lottery operator Ithuba denies not meeting standard

Picture: SUNDAY TIMES

National lottery operator is alleged to be about R150m behind schedule for R1.56bn it must pay this year

Retail & Consumer

Market not sure that veteran Brookes can fix Edcon

Picture: Robbie Tshabalala

Bernard Brookes is well respected in the Australian retail industry but his exit from Myer a concern

Property

Fortress stellar earnings may upstage rivals’ growth

Mark Stevens.  Picture: RUSSELL ROBERTS

Fortress Income Fund posts 20% growth in income distributions and achieved distributable earnings growth for the year ended June of 20.29%

Property

Intu’s mall development plans keep tills ringing

Picture: THINKSTOCK

JSE’s largest real estate investment trust records 6% growth in earnings a share over the first six months of this year, pleasing the market

Opinion

COMPANY COMMENT: Advtech; Barclays Africa

Picture: THINKSTOCK

No black marks for buoyant Advtech while it’s unclear if job cuts at Barclays plc will play out in SA

Marcel Joubert. Picture: SUNDAY TIMES

Aca Joe owner placed under liquidation

Platinum Group, which owns clothing brands Aca Joe, Hilton Weiner and Jenni Button, sank under an influx of global fashion retailers

Americas

Shell to cut jobs due to sliding prices

The logo of Shell is pictured at the 26th World Gas Conference in Paris. Picture: REUTERS/BENOIT TESSIER

Royal Dutch Shell plans to reduce its headcount by 6,500 this year owing to falling prices, as it looks to complete BG Group takeover

Odgers Berndtson

Do MBA’s bridge the gap between theory and practice?

Professor Nicola Kleyn. Picture: GIBS

Bridging gap between theory and practice fundamental to process of realising full value of MBA in workplace and as professional degrees

Featured Partner

Nedbank

Make taking your business to the next level happen, with Nedbank

Nedbank Business Banking believes in demonstrating importance of successful partnerships, role they play in championing the growth of clients’ businesses

Featured Partner

Retail & Consumer

Reynolds may give BAT second wind

Picture: THINKSTOCK

Camel brand owner Reynolds American paid $25bn for third-largest US cigarette maker Lorillard last month

Companies

‘Boere Buffett’ faces classroom revolt in Advtech bid

Jannie Mouton.  Picture: HETTY ZANTMAN

Takeover battle to create $1.5bn private education giant in SA pitting shareholders against parents and exposing tensions over race, language and ethnicity

Industrials

AECI’s strategy to diversify pays off

AECI CEO Mark Dytor. Picture: MARTIN RHODES

CEO Mark Dytor warns of investment confidence decline — manufacturing output in SA is ‘nowhere near where it was in 2008’


International companies


Europe

NEWS ANALYSIS: Sign of the financial times as cautious Springer loses bid

Axel Springer. Picture: AFP PHOTO/JOHANNES EISELE

Germany’s largest news publisher has a long line of setbacks in its attempt to expand abroad, write Harro Ten Wolde and Klaus Lauer

Mining

Aquarius to review all its mines as price of platinum plunges

Aquarius Platinum CEO Jean Nel. Picture: PHILIP SCHEDLER

Mine management to undertake safety and productivity inspections and assess viability of each shaft, says CEO Jean Nel

Americas

Facebook profit dips, revenue surges on mobile ads

Mark Zuckerberg, Facebook’s co-founder and CE. Picture: REUTERS

World’s biggest social network sees higher expenses cut into its bottom line as it invests in new technologies

The Uber logo is seen on a vehicle near Union Square in San Francisco, California. Picture: REUTERS/ROBERT GALBRAITH

Uber to invest heavily in India

App-based taxi-hailing company says it is ‘extremely bullish’ on Indian market, expects ‘tremendous potential’ in country

Americas

Microsoft hopes Windows 10 will help it catch up in mobile

Picture: KIYOSHI OTA/BLOOMBERG

Stakes are high as Microsoft pushes out Windows 10 for both traditional computers and mobile devices

Picture: THINKSTOCK

Talk of Steinhoff buyback from Brait

Steinhoff International stock trades double its average daily volumes as investors speculate on its next move

Companies

Curro takes Advtech offer off the table

Picture: THINKSTOCK

Retreat douses widespread expectations that PSG-backed Curro might resort to making a general buyout offer

Asia-Pacific

Samsung’s second-quarter profit falls 8%

Mock-ups of the Samsung Galaxy Note 4 smartphone are displayed at the company's flagship store in Seoul, South Korea. Picture: BLOOMBERG

Electronics giant posts 8% fall in net profit, promises ‘flexible’ pricing of new flagship smartphone after less than stellar sales contribute to slump in mobile unit earnings

Financial Services

Sabvest further broadens portfolio offshore

Picture: THINKSTOCK

Steady SA Bias diversifies further with its International Trimmings division clinching a 76% interest in Canada-based Overheer Systems, as well as moves in Vietnam, India, Bangladesh and UK

Property

Fortress stellar earnings may upstage rivals’ growth

Mark Stevens.  Picture: RUSSELL ROBERTS

Fortress Income Fund posts 20% growth in income distributions and achieved distributable earnings growth for the year ended June of 20.29%

Property

Atterbury launches Atterbury Europe with €220m investment in Cyprus

The Mall of Cyprus.  Picture: SUPPLIED

Atterbury Europe will focus on shopping centre investments and retail development in Europe, with a bias towards eastern Europe

Financial Services

Barclays consolidates African operations

Maria Ramos. Picture: MARTIN RHODES

Barclays Africa CEO Maria Ramos integrates operations in 13 African countries as group plans to add interests in Zimbabwe, Nigeria and Egypt to its portfolio of assets, writes Phakamisa Ndzamela

Americas

Facebook, Google tighten grip on mobile ads

Picture: THINKSTOCK

Facebook offers fresh evidence of its allure to deep-pocketed big brands, as it, Google increasingly take lion’s share of fast-growing mobile advertising market

Europe

Barclays chairman to accelerate restructuring as profit rises

John Mcfarlane. Picture: BLOOMBERG/DAN LEWIS

Barclays chairman John McFarlane promises faster delivery as pretax earnings meet estimates

Opinion

COMPANY COMMENT: Anglo American; Sacoven

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo asset sale plan mirrors BHP strategy while Sacoven needs deals to counter a R8.8m fee outflow in the offing

Opinion

ON THE MONEY: Abil business rescue move may see shareholders pocket some money

More really bad news for taxpayers, who are on the line for a R7bn guarantee

Mining

Lonmin: victim of price falls and management wobbles

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS

Platinum producer faces deepest crisis to date, hurt by downturn in metal, haunted by mixture of bad luck, management choices that are putting its survival at risk

Mining

Gold Fields bond yields up as South Deep burns more cash

Picture: BLOOMBERG/KIYOSHI OTA

Bond market takes note of Gold Fields’ ‘perfect storm’: low gold price, South Deep’s cash burn and production delays

Asia-Pacific

Toshiba cuts executives’ pay over accounting scandal

Masashi Muromachi, chairman and interim president of Toshiba Corporation (left) sits with Hisao Tanaka, outgoing president and chief executive officer, during a news conference in Tokyo, Japan, on Tuesday. Picture: BLOOMBERG/AKIO KON

Company says 16 executives will take temporary pay cuts while another resigns in wake of billion-dollar accounting scandal

Europe

German regulator orders Facebook to allow pseudonyms

Facebook’s Innovation and Entrepreneurship Lab — inaugurated during the launching of the ‘Facebook in the Community’ project in Sao Paulo, Brazil. Picture: AFP

Forcing users to stick to their real names violates privacy rights, says German authority, while Facebook declares authentic names protects people safety and privacy

Opinion

COMPANY COMMENT: Standard Bank; Telkom

Picture: SUNDAY TIMES

Bank’s disposal gains put a shine on results while details of Telkom’s executive remuneration could not have come at a worse time

Opinion

COMPANY COMMENT: Lonmin; listed property sector

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS

Dim view of Lonmin's move to reduce jobs while two big deals could mark the end of consolidation in listed property for the year

Mining

Vedanta opens new zinc mine in Northern Cape

Vendata. Picture: SUPPLIED

Vedanta plans to turn Southern African region into one of most important suppliers of zinc globally through Gamsberg project

Financial Services

Convergence Partners fund realises more than $200m

Picture: THINKSTOCK

Fund reaches its final close with capital commitments from institutions such as the Public Investment Corporation

Telecoms & Technology

Vodacom, finance chief part ways

Picture: THINKSTOCK

Financial executive and replacement have worked alongside one another for more than 18 months to prepare for the role, says insider

Industrials

Mondi expects increase in first-half profit

Picture: THINKSTOCK

Analyst says ranges paper company provided suggest better than expected earnings, probably driven by capital investment programme

Financial Services

Blue’s bid to convert debt to equity hits obstacle

Johan Meiring. Picture: FINANCIAL MAIL

Pan-African lender needs capital to move forward and wants its funders to convert about R468m of debt into equity

Americas

The only six stocks that matter

New York Stock Exchange. Picture: BLOOMBERG/JIN LEE

Handful of companies have driven gains in major US stock indices this year, raising fresh concern about health of market

Standard Bank

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