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Financial Services

Finbond acquires four payday lenders in the US and Canada

Picture: THINKSTOCK

The acquisitions will give Finbond, SA’s largest short-term microlender, a branch network of 85 branches in the US and six in Canada

Mining

South32 targets $1.7bn writedown

Picture: ARDBEL

Producer says 60%-owned Samancor Manganese joint venture will resume production but at ‘significantly reduced volumes’

Transport & Tourism

Sanral bond issue success suggests it is business as usual

Picture: FINANCIAL MAIL

Agency still faces uphill battle to bring in revenue from toll fees, following a wide-scale revolt by road users

Energy

Eskom’s tariff hike plea gets a public beating

Picture: THINKSTOCK

Industry leaders hammer home message that poor management — delays and cost overruns — behind proposed tariff increases

Financial Services

African Bank curator expects green light when creditors vote

African Bank curator Tom Winterboer. Picture: MARTIN RHODES

Curator Tom Winterboer confident ahead of meetings from February 29 to March 1 for investors to vote on planned ‘good bank’ debt shift

Energy

Eskom tackles future coal supply prospects

PRECONDITIONS: Eskom is working with coal miners to ensure that investment funds are available to sustain their volumes. Picture: BLOOMBERG/DEAN HUTTON

Power utility ‘working hard to ensure the capital available where cost-plus mines make sense’, says executive

BusinessDay

Tower buys Croatian malls

Picture: THINKSTOCK

Property fund spends €66m on biggest acquisition to expand and diversify asset base

Mining

STOCKWATCH: South32 surges after restructuring announcement

Mining. Picture: SUPPLIED

Miner says its South African manganese division will undergo major restructuring, including laying off 620 employees

Energy

Eskom’s need to reduce costs puts coal under the spotlight

Eskom Medupi power station.

Department of Mineral Resources is concerned about containing electricity cost increases to avoid undermining competitiveness and development

Theo Botha. Picture: SUNDAY TIMES

Coronation denies Theo Botha’s request

CEO Anton Pillay says fund manage complied fully with JSE and Companies Act requirements onremuneration disclosures

Telecoms & Technology

Mix Telematics posts increase in subscription revenue

MiX Telematics. Picture: SUPPLIED

Vehicle tracking company says it achieved growth in third quarter of 2015 financial year despite ‘increasingly difficult trading conditions’

Financial Services

BayHill to focus on clients’ share portfolios

Picture: THINKSTOCK

Cannon Asset Managers will focus on unit trusts and attracting funds from institutional investors, such as pension funds

Mining

Harmony’s restructuring pays off

UPBEAT: New Harmony Gold CEO Peter Steenkamp at the group’s results presentation in Sandton on Thursday. Mr Steenkamp views Harmony’s investment case as still very strong. Picture: MARTIN RHODES

Gold miner says higher production has strengthened cash flow while margins are growing

Industrials

Quality sacrificed for pricing in infrastructure projects

Lynne Pretorius. Picture: SUPPLIED

Private sector needs to raise investment in public infrastructure to alleviate strain as state’s coffers run dry

Opinion

COMPANY COMMENT: ArcelorMittal SA; Brikor

Steel coils.  Picture: BLOOMBERG

Steel ball is firmly in government’s court while there has been a glimmer of good news from Brikor

Opinion

COMPANY COMMENT: Barloworld; Blue Financial Services

Picture: SUPPLIED

Barloworld’s geographic and industry diversity helps it to stabilise while Blue Financial Services faces a drought


International companies


Industrials

ArcelorMittal reviews role of second major operation

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Loss-making ArcelorMittal SA places Saldanha Works under review as company braces for deeper loss than forecast

Companies

Upbeat Toyota raises both profit and sales forecasts

The new facade of the LandCruiser 200 echoes that of former generations. Picture: QUICKPIC

The world’s best-selling vehicle maker said it expected to post a record net profit of ¥2.27-trillion ($19.43bn) in the year to March

Europe

Shell pins hopes on BG as profit slides

NEW ERA:  An employee sweeps at a Shell station in Brentwood, UK, this week. Shell is buying BG Group in the sector’s largest deal in a decade. Picture: BLOOMBERG/CHRIS RATCLIFFE

Oil major bets $50bn acquisition of BG Group will help it maintain dividends and increase crude and gas output as cash flow shrinks

Heavy commercial vehicles are showing reasonable growth in 2015. Picture: NEWSPRESS UK

Truck maker Volvo benefits from offloading costs including 5,000 jobs

Volvo’s profit margin rose to more than 8% from 3% the previous year owing to cost reductions and positive currency development, an analyst said

Asia-Pacific

Toshiba lifts loss forecast to $6bn after profit-padding 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

The Japanese conglomerate said in January it was inflating tenfold a damages claim against a group of former executives in the wake of its accounting scandal

The Kumba Iron Ore mine at Sishen in the Northern Cape. Picture: KEVIN SUTHERLAND/SUNDAY TIMES

Plunging ore prices tear into Kumba profits

Annual profit hit by R6bn impairment at South Africa’s largest iron ore producer — with basic earnings for year to fall up to 96%

Industrials

Eqstra’s first-half HEPS expected to decline by one-fifth

Picture: THINKSTOCK

Eqstra is currently closing or selling other noncore operations, including its heavy equipment business in the industrial equipment division

Telecoms & Technology

Vodacom pitches next revenue numbers lower

Shameel Joosub. Picture: MARTIN RHODES

Robust international operations' revenue up 15.8% while customer numbers rise to 31.1-million

Energy

Eskom updates system ahead of hearings

Brian Molefe. Picture: TREVOR SAMSON

CE Brian Molefe says utility has clocked up almost six months without load shedding and trend set to continue

Mining

Harmony Gold narrows interim losses

Peter Steenkamp. Picture: RUSSELL ROBERTS

Gold producer says increased production has led to a stronger cash flow and the higher rand gold price is an added bonus

Property

Resilient shows strong results as dividend up 25%

Property fund. Picture: THINKSTOCK

Strong results reflect effect of capital raisings, particularly a rights issue last June that reduced funding costs

Industrials

Equipment giants hit by mining woes

Picture: THINKSTOCK

Barloworld and Eqstra issue profit warnings as mines suffer persistently weak commodity prices

Financial Services

Blue Financial Services battles to attract capital

Blue Financial Services CEO Johan Meiring. Picture: FINANCIAL MAIL

Shareholders lose confidence in company over lack of published results and discord among senior executives

Transport & Tourism

Cape-Town based Travelstart gets $40m investment

Picture: THINKSTOCK

Investment firm Amadeus Capital Partners, based in the UK, wants to help Travelstart boost its presence in Africa

Mining

Plunging ore prices tear into Kumba profits

The Kumba Iron Ore mine at Sishen in the Northern Cape. Picture: KEVIN SUTHERLAND/SUNDAY TIMES

Annual profit hit by R6bn impairment at South Africa’s largest iron ore producer — with basic earnings for year to fall up to 96%

Property

Resilient shows strong results as dividend up 25%

Property fund. Picture: THINKSTOCK

Strong results reflect effect of capital raisings, particularly a rights issue last June that reduced funding costs

Industrials

Equipment giants hit by mining woes

Picture: THINKSTOCK

Barloworld and Eqstra issue profit warnings as mines suffer persistently weak commodity prices

Energy

Eskom updates system ahead of hearings

Brian Molefe. Picture: TREVOR SAMSON

CE Brian Molefe says utility has clocked up almost six months without load shedding and trend set to continue

Europe

Banking job cuts do little to stem costs

Picture: THINKSTOCK

Half-a-million jobs lost across banking industry since global financial crisis of 2008 with no end in sight as revenues continue to fall

Asia-Pacific

ChemChina chief thinks big with Syngenta offer

Ren Jianxin. Picture: REUTERS/ARNDWIEGMANN

Chinese offer for Swiss seeds group is country’s largest ever, write Matthew Miller and Chen Aizhu

Financial Services

Grotech targets technology firms

Picture: THINKSTOCK

Venture capital technology fund uses structure created to offer investors a tax break

Telecoms & Technology

MTN hires former top US state official to help in talks with Nigerian regulator

A man passes an MTN board in Lagos, Nigeria.  Picture:  AFP PHOTO/PIUS UTOMI EKPEI

Eric Holder was US attorney-general from 2009 to 2015, and is talking to Nigeria’s communications commission about the huge fine imposed on MTN

Transport & Tourism

Gama highlights need for stable Transnet leadership

Siyabonga Gama. Picture: MARTIN RHODES

Garry Pita appointed state-owned transport utility’s new chief financial officer to ‘stabilise leadership’

Opinion

Time for ANC to befriend business

President Jacob Zuma, centre, accompanied by his Cabinet ministers, listens to former UK Prime Minister Gordon Brown at the Africa Infrastructure Breakfast at the WEF Congress Centre on Friday.  Picture:  GCIS

Ruling party needs to boost investor confidence if SA is to have any hope of reverting to 5% or more annual growth in gross domestic product and overcome its huge unemployment problem

Mining

Gupta firm mute on how to fire up colliery

Mineral Resources Minister Mosebenzi Zwane speaks during a visit to Harmony Gold's Doornkop Mine on Tuesday.  Picture: GCIS

Mineral Resources minister raises eyebrows with visit to Optimum’s owner Glencore in Switzerland as part of Tegeta delegation

Asia-Pacific

ChemChina chief thinks big with Syngenta offer

Ren Jianxin. Picture: REUTERS/ARNDWIEGMANN

Chinese offer for Swiss seeds group is country’s largest ever, write Matthew Miller and Chen Aizhu

Asia-Pacific

Toyota parts factories in Japan to shut for a day next week

Vehicles drive past the Durban Toyota plant. Picture: REUTERS

The vehicle maker will also temporarily stop vehicle production in Japan due to a components shortage following an explosion at a supplier

Telecoms & Technology

New technologies lift Pinnacle

Picture: BUSINESS DAY

Information technology group says interim revenue grew ‘in a satisfactory manner’ with growth coming from infrastructural products

Financial Services

Standard Bank systems to be down on Sunday

Standard Bank. Picture: MARTIN RHODES

However, customers will still be able to use Standard Bank debit, cheque or credit cards to make in-store purchases and cash withdrawals at ATMs

Retail & Consumer

Milk glut sees cut in price and earnings

Picture: THINKSTOCK

Current oversupply of milk is good news for consumers, who can expect to pay lower prices, but not for shareholders of Clover Industries

Property

Stor-Age stacks up space for future growth

STARTING POINT:  Stor-Age CEO Gavin Lucas addresses investors and media at the group’s listing on the JSE’s main board on Monday. Picture: MARTIN RHODES

Critics say there is too little demand for storage facilities in SA to support big listed companies

Americas

Nearly one in seven people uses WhatsApp, says Zuckerberg

Picture: BLOOMBERG

Facebook chief Mark Zuckerberg says the number of people using WhatsApp has more than doubled since Facebook bought the service for $19bn in 2014

Motoring

Get real, Müller tells carbon police

Matthias Müller. Picture: REUTERS/RALPH ORLOWSKI

VW Group CEO Matthias Müller calls for more realistic testing of vehicles as well as fast-tracked charging networks to power hordes of battery-electric plug-ins on the way, writes Michael Taylor

Americas

Alphabet set to become most valuable company

Apple CE Tim Cook. Picture: BLOOMBERG/DAVID PAUL MORRIS

Google parent poised to take crown from Apple on higher profit and sales fuelled by booming advertising business

Mining

Anglo in danger of getting the boot from UK’s blue-chip index

Picture: THINKSTOCK

Risk of demotion may spark a sell-off worsened by tracker funds rebalancing portfolios to account for Anglo’s fall from grace

Industrials

Metals sector to see structural shifts

Steel coils.  Picture: BLOOMBERG

As globalisation speeds up South Africa must upgrade plants, stabilise supply and ensuring high-quality product

Telecoms & Technology

Network investment pays off for Vodacom

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

Mobile communications company says the quarter’s biggest highlights were the accelerated service revenue growth in SA and the increase in group customer base

Industrials

Barloworld reports stable quarter despite tough trading conditions

Picture: SUPPLIED

Barloworld said group working capital levels had risen in the quarter, mainly in the automotive and logistics division

Healthcare

Merged Al Noor Mediclinic to list on February 15

Picture: THINKSTOCK

Announced in October, the combination will create the third-largest international healthcare group outside the US

Americas

Strong dollar batters US tech firms

A man takes pictures as the Apple iPhone 6s and 6s Plus in Beijing, China. Apple's China sales grew 84% in the last year through September. But with China's economy slowing the trend is unlikely to last. Picture: REUTERS/DANUR SAGOLJ

The firm greenback is having a disproportionate effect on Silicon Valley because of the industry’s unusual success in selling hardware, software and services abroad

Mining

Sibanye pushes for third platinum deal

Sibanye Gold CEO Neal Froneman. Picture: MARTIN RHODES

CEO Neal Froneman says producer’s looking for growth opportunities in the rest of Africa and will consider base metal mines

Energy

Sasol’s earnings in doldrums as oil price hits the skids

Sasol’s plant in Secunda. Picture: SOWETAN

Petrochemical giant Sasol warns profit for six months to December will fall by almost a third while shares rally on news of Saudi Arabia output cut that revives Brent

Retail & Consumer

Sun International to keep presence in Nigeria

WORRIED:  Mohammed Nalla, Nedbank Capital head of strategic research, is concerned about treatment of companies in Nigeria Picture: FINANCIAL MAIL

Hotel and casino group commits to expansion in African oil giant despite probe into group’s investment in Tourist Company of Nigeria

Financial Services

Transaction Capital ventures further afield for new deals

Picture: THINKSTOCK

Financial services company has excess capital of about R800m for acquisitions, development and organic growth

JSE Sens

Standard Bank

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