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ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Steel giant loses court battle over documents

22 hour(s) ago

In judgment with wider significance for industrial companies, the Supreme Court of Appeal orders steel producer ArcelorMittal SA to hand over environmental information to lobby group

Financial Services

Standard Bank UK unit in another pickle

Picture: SUNDAY TIMES
19 hour(s) ago

Company accused this week of being involved in the fixing of platinum and palladium prices as long ago as 2007

Financial Services

UK expert urges SA to encourage new banks

Picture: SUNDAY TIMES
19 hour(s) ago

London-based Lafferty Group chairman Michael Lafferty says adding more retail banks could help drive competition and help extend services to places where the major banks do not have a solid presence

Retail & Consumer

Brait to spend Pepkor gains on acquisitions

Brait CEO John Gnodde. Picture: FINANCIAL MAIL
19 hour(s) ago

As many as three acquisitions possible in SA and Europe in the next year-and-a-half

Retail & Consumer

Foschini group launches online stores for brands

Picture: SUNDAY TIMES
19 hour(s) ago

In a retail market worth more than R500bn‚ online transactions account for less than 1% in SA

Mining

De Beers set to co-operate with small players

MYSTERIES: A mining truck carries diamond-bearing kimberlite rock away from the pit floor at the Jwaneng mine, operated by the Debswana Diamond Company, a joint venture between De Beers and Botswana’s government, in Jwaneng, Botswana. Picture: BLOOMBERG
19 hour(s) ago

Orapa pit has at least 35 more years of mining left, says mine manager

Education

Advtech to buy low-fee schools group

Leslie Maasdorp. Picture: WORLD ECONOMIC FORUM
19 hour(s) ago

The company will ask permission from investors to issue up to 55-million shares

Retail & Consumer

Steinhoff looks beyond rivals with Pepkor buy

Steinhoff CEO Markus Jooste. Picture: FINANCIAL MAIL
19 hour(s) ago

The deal, said to be SA’s largest corporate transaction yet, values Pepkor at more than Mr Price Group

African Business

One Re targets 38 African countries

Picture: THINKSTOCK
19 hour(s) ago

Started by Johannesburg-born brothers Andrew and Robert Lewis in 2012, company already has clients in Mozambique, Angola and Lesotho

Financial Services

Moody’s extends review period for downgrade of African Bank

Picture: MICHAEL ETTERSHANK
1 day(s) ago

Rating agency extends review period for downgrade of African Bank’s credit ratings as Reserve Bank’s restructuring plan is still in progress

Woolworths protests. Picture: GALLO IMAGES/The Times / Esa Alexander

Uproar over Israel dominates Woolies AGM

Meeting tense and drawn-out affair, and the formal parts — which usually take 10-15 minutes to run through — take a full two hours to complete

National

Shanduka sale does not go quite to plan

Cyril Ramaphosa. Picture: TREVOR SAMSON
22 hour(s) ago

Deputy President Cyril Ramaphosa in bumpy exit from business

Telecoms & Technology

Telkom stock responds to reform efforts

Sipho Maseko. Picture: FINANCIAL MAIL
1 day(s) ago

New board and CEO are implementing a turnaround programme that seeks to cut R5bn

Industrials

Omnia able to perform ‘steadily through poor environment’

Omnia MD Rod Humphris. Picture: MARTIN RHODES
1 day(s) ago

CEO Rod Humphris indicates group’s chemicals business still under pressure

Industrials

Tough times ‘rattle construction firms’

Picture: BLOOMBERG
1 day(s) ago

Overall industry revenue increased 9% in the year to date, but total profits were down 4%

Retail & Consumer

Activist group agrees truce with Woolworths

1 day(s) ago

But deal remains fragile as BDS accuses the retailer of distorting facts

Property

Listed property ‘will slow next year’

Picture: THINKSTOCK
1 day(s) ago

In the twelve months to October, local property index return at 19.4% against equities’ 12.5%

Opinion

COMPANY COMMENT: Mr Price; ArcelorMittal SA

Picture: MICHAEL ETTERSHANK

Mr Price seems best placed among SA’s retailers as we head into a holiday season, while ArcelorMittal SA has annoyed some its customers


International companies


Americas

Wal-Mart cuts dozens of China executives to cut costs

Picture: REUTERS
10 hour(s) ago

The multinational has faced setbacks in China, including an embarrassing food-safety scandal in which its popular ‘Five Spice’ donkey meat was found to have traces of fox meat

Asia-Pacific

Samsung heir apparent starts making mark

Lee Jae Yong. Picture: BLOOMBERG/SEONGJOON CHO
19 hour(s) ago

Lee Jae Yong is overseeing $8bn in proposed deals including a share buyback by the electronics company

Europe

Mistakes of big UK banks will take a generation to fix

A pedestrian passes a Royal Bank of Scotland branch in the City of London. Picture: REUTERS
19 hour(s) ago

Toxic culture, decades in the making, will take a generation to turn around, says Conservative MP

World

Uranium jumps after good signs from China and Japan

Tim Gitzel:  Picture: REUTERS/DAVID STOBBE
19 hour(s) ago

Uranium dropped as much as 62% after the meltdown at Tokyo Electric Power’s Fukushima Dai-Ichi plant in March 2011

Asia-Pacific

China stocks are hostage to a few IPOs

Picture: REUTERS
1 day(s) ago

The nation’s $4.3-trillion stock market has become hostage to the fundraising plans of companies seeking just $1.3bn

Walmart.  Picture: REUTERS/JONATHAN ALCORN

Black Friday specials set to draw 140-million US shoppers

An estimated 140-million US shoppers will hit shops and web this weekend in search of post-Thanksgiving Day discounts

Americas

Shopping centres with superior style and service lure customers

Santa's Helpers. Picture: REUTERS/CHARLES PLATIAU
19 hour(s) ago

Malls are touting convenience and special events as an alternative to last year’s heavy discounting

Europe

Google in firing line in Europe as legislators vote on break-up

PRIVACY ISSUES: Pedestrians walk in front of Google’s headquarters in Mountain View, California. The US company has started to comply with the EU’s ‘right to be forgotten’ ruling. Picture: BLOOMBERG/DAVID PAUL MORRIS
19 hour(s) ago

When EU calls for the break-up of Google, Americans should know behind antitrust probe stand not only Europeans but US competitors

Europe

Chief’s departure hits Thomas Cook

Harriet Green. Picture: BLOOMBERG
19 hour(s) ago

Shares in the world’s oldest travel company fall as much as 23% on news of Harriet Green’s departure

Ladbrokes. Picture: BLOOMBERG/CHRIS RATCLIFFE

Algorithms in place to rescue gamblers

A media backlash and political posturing ahead of the British national election next year has increased pressure on companies to show they are serious about tackling the problem of gambling

Americas

Apple’s record value reaches new milestone

Tim Cook. Picture: BLOOMBERG
19 hour(s) ago

About 85% of technology companies that have reported third-quarter results topped forecasts

Retail & Consumer

Court bans in-store Woolworths protests

2 day(s) ago

Pro-Palestine boycott group welcomes order to meet retailer’s representatives by December 10

Europe

BT’s wireless castoff is back in crosshairs

BT Group. Picture: BLOOMBERG
1 day(s) ago

British phone company in preliminary talks with Telefonica’s O2 — the wireless business spun off in 2001 — and EE about an acquisition

Europe

ING plans to cut Dutch jobs

ING Groep. Picture: BLOOMBERG/MATTHEW LLOYD
1 day(s) ago

The banking group, which has 53,000 staff, says the cuts will occur over the next three years and save about €270m from 2018

Retail & Consumer

SABMiller to export to Canada and enter Brazil again

Picture: THE TIMES
3 day(s) ago

Brewer has plans to re-enter Brazilian market while also distributing own beers in Canada, adding two new markets to group’s Latin American unit

Media & Advertising

Naspers to expand e-commerce platforms on Schibsted deal

Picture: SHELLEY CHRISTIANS
2 day(s) ago

Internet and media group will further expand e-commerce platforms in Latin America, Southeast Asia after reaching agreement with Oslo-based Schibsted

Energy

Eskom asks staff to quit to contain soaring costs

Picture: THINKSTOCK
2 day(s) ago

Utility's net profit in the six months to September falls 24% to R9.3bn as it battles broken equipment and lower sales volumes

Retail & Consumer

JSE newcomer Rhodes sets out its plans for listing proceeds

Bruce Henderson. Picture: EVAN HAUSSMAN
1 day(s) ago

Along with making jam and canned fruit, the Western Cape-based company owns brands that include Magpie and Trout Hall

Healthcare

Netcare to spend R2bn on expansion

Dr Richard Friedland, CEO of Netcare. Picture: FINANCIAL MAIL
2 day(s) ago

Netcare to spend R2bn to expand facilities during its 2015 financial year in expectation of strong demand for hospital services, says CEO

Europe

Pressing a Google breakup

PRIVACY ISSUES: Pedestrians walk in front of Google’s headquarters in Mountain View, California. The US company has started to comply with the EU’s ‘right to be forgotten’ ruling. Picture: BLOOMBERG/DAVID PAUL MORRIS
2 day(s) ago

Some European legislators, backed by members German government, are preparing draft resolution calling for breakup of Google

Retail & Consumer

STOCKWATCH: Steinhoff enters record territory on Pepkor acquisition

Christo Wiese. Picture: TREVOR SAMSON
2 day(s) ago

Steinhoff International touches levels last seen in early July as shareholders cheer company’s latest move to buy Africa’s largest retail chain, Pepkor Holdings

Healthcare

Netcare climbs to record high on annual results

Netcare. Picture: FINANCIAL MAIL
3 day(s) ago

Shares of private hospital group power to record high after company increases annual profit, reveals expansion plans that signal future earnings growth will remain strong

Industrials

Sasol changes move through the ranks

Sasol CE David Constable. Picture: MARTIN RHODES
3 day(s) ago

The full effect on jobs will be known only once the restructuring is complete in June

Energy

Industry ‘must cut 10% of power usage’

Majuba power station. Picture: ESKOM
3 day(s) ago

Eskom declares power emergency for industrial customers, requiring them to immediately reduce usage

Opinion

COMPANY COMMENT: SABMiller; property developers

Picture: THINKSTOCK

SABMiller’s strategy requires country-specific approaches, while offshore property players may be the better investment for South Africans looking for exposure to listed property next year

Asia-Pacific

Codelco seeks billions to revive production

Codelco.  Picture: BLOOMBERG, MORTEN ANDERSON
1 day(s) ago

Imports by China, where copper is used as an industrial material as well as a collateral for financing, will drop next year

Financial Services

Transaction Capital hints at interest in African Bank

Picture: MICHAEL ETTERSHANK
1 day(s) ago

CEO David Hurwitz says company is very well placed in 'skill to absorb that type of collection activities'

Media & Advertising

Naspers has $1.65bn in online warchest

Picture: SHELLEY CHRISTIANS
1 day(s) ago

Naspers CEO Bob van Dijk says the group will pursue acquisitions in online classifieds and the delivery of online content

Property

Vukile expects to grow distributions

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

Property fund says its forecast is based on assumption that macroeconomic environment will not deteriorate further, no major corporate failures will occur

Financial Services

Nedbank to merge corporate, investment banking units

Picture: RUSSELL ROBERTS
1 day(s) ago

SA’s fourth-largest bank says Brian Kennedy, head of Nedbank Capital, will be responsible for merged unit from January 1

Retail & Consumer

Steinhoff deal to take Pep stores to Europe

Steinhoff CEO Markus Jooste. Picture: FINANCIAL MAIL
1 day(s) ago

Steinhoff will use R15bn of the R18bn it raised from shareholders in July ahead of its planned listing in Frankfurt to partly fund the deal

Property

Nepi shifts aim to Slovakia and Serbia targets

Picture: THINKSTOCK
2 day(s) ago

New Europe Property Investments announces R1.4bn book build to partly pay for Promenada Mall in Bucharest and to finance acquisitions in Slovakia and Serbia

Retail & Consumer

Shoppers trust big brands in hard times

2 day(s) ago

While they may purchase them, a majority of South African consumers say they are not loyal to store brands, study shows

Opinion

COMPANY COMMENT: Cadiz; Pan African Resources

Picture: THINKSTOCK

Cadiz loses assets as turnaround recedes, while Pan African Resources has finally drawn a line beneath its foray into Mozambique

Opinion

Blow after blow for ArcelorMittal

Forcing a struggling behemoth to adopt pricing below import parity makes it vulnerable to imports

Energy

Ageing infrastructure, emergency measures hit Eskom’s profit, says CEO

Eskom's Medupi station. Picture: ARNOLD PRONTO
2 day(s) ago

Ageing infrastructure, disproportionately expensive emergency electricity generation methods take toll on power utility, which sees net profit drop 24% to R9.3bn

Industrials

Defy launches R120m fridge production line in East London

Defy employees work on the factory line in Wilsonia in this September 2011 file photo: Picture: SOWETAN
3 day(s) ago

Company has invested R500m in expanding factories in SA over last three years

Asia-Pacific

Samsung likely to focus on change in leaders

Lee Kun Hee, chairman of Samsung Electronics, left, and Lee Jae Yong, vice-president of Samsung Group. Picture: BLOOMBERG FILE PHOTO
2 day(s) ago

Group’s first management restructure since family patriarch’s heart attack set to focus on the executives leading the world’s biggest smartphone business

Europe

French oil giant Total to face trial on Iran corruption charges

Christophe de Margerie.   Picture: CHRIS RATCLIFFE/BLOOMBERG
2 day(s) ago

Total ordered to face trial over charges it bribed officials in Iran to acquire oil and gas concession, says judicial source

Retail & Consumer

Rhodes Food Group ‘proves resilient in constrained environment’

Picture: THINKSTOCK
2 day(s) ago

Rhodes benefits from strong trading for year to end September 28 in regional, international businesses, with offshore sales helping to stem effects of weak rand

Americas

Rosier outlook for retail during festive season

Picture: REUTERS
2 day(s) ago

Cheaper oil and confident consumers will boost chain stores, writes Joseph Ciolli

Retail & Consumer

Quantum turnaround ‘not yet convincing’

Picture: THINKSTOCK
2 day(s) ago

Revenue in SA remains unchanged, with growth coming from small but growing operations in Zambia and Uganda

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