• Thursday, October 23 2014
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Financial Services

STOCKWATCH: HCI rebounds after company reassures investors

Picture: MICHAEL ETTERSHANK
3 hour(s) ago

Hosken Consolidated Investments shares narrow losses after announcing that suspension of Marcel Golding is ‘unlikely to materially affect its financial performance’

Mining

Anglo increases forecast for output at Kumba

Mine worker.  Picture: EPA
8 hour(s) ago

Anglo American reports strong improvement in quarterly iron ore production, with record quarterly performance from Kolomela mine

Financial Services

HCI suspends Golding in wake of inquiry

Marcel Golding. Picture: TREVOR SAMSON
11 hour(s) ago

Executive chairman and co-founder responds by launching proceedings to lift his suspension and ‘to stay the disciplinary inquiry and to seek other relief’

Companies

Adcorp eyes acquisitive growth as gearing level drops

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL
8 hour(s) ago

Company reports a 9% rise in normalised earnings to 191.7c per share for its six months ended August

Europe

BAT’s cigarette sales volumes slowly going up in smoke

Picture: REUTERS
8 hour(s) ago

The JSE’s biggest stock by market value sees its share fall as much as 4.58% to R585 after the release of the interim results

Mining

Impala directors forgo pay rises for third year

DIFFICULT SITUATION: Impala Platinum CEO Terence Goodlace addresses the media on the group’s outlook. Picture: MARTIN RHODES
8 hour(s) ago

Nearly all shareholders at an annual general meeting in Johannesburg vote to leave payments unchanged.

African Business

BCL’s Norilsk deal the first step in its hunt for nickel

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
11 hour(s) ago

Botswana’s state-owned BCL is embarking on a strategy to secure extra sources of metal, and its first step is the $337m purchase of Norilsk Nickel’s African assets

Retail & Consumer

Premier Foods seeks more acquisitions in Southern Africa

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

Premier Foods, whose brands include Blue Ribbon bread, Snowflake wheat and Iwisa maize has been active on the acquisition front

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL

Adcorp eyes acquisitive growth as gearing level drops

Company reports a 9% rise in normalised earnings to 191.7c per share for its six months ended August

Mining

No party cronies in BEE deal, says Northam

Lazarus Zim.   Picture: REUTERS/MIKE HUTCHINGS
11 hour(s) ago

Miner unveils long-awaited deal valued at nearly half its market capitalisation to take its empowerment to 35.4%

Property

Investment flows to Reit funds taking longer than expected

Picture: THINKSTOCK
11 hour(s) ago

SA’s property fund managers believe their companies’ drive to attract international shareholders has been too slow since taking up the same tax dispensation as global funds last year

Industrials

Foord claims enough shares to force vote

Ketso Gordhan. Picture: ARNOLD PRONTO
1 day(s) ago

Second demand for special meeting on new board set for ‘later this week’

Opinion

COMPANY COMMENT: Technology sector; Reit conference

server technology Picture: THINKSTOCK

Technology staff a click away from layoff , while property players gear up for first domestic Reit conference

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


International companies


Europe

Legal costs set to mar rebound of European banks

Credit Suisse. Picture: BLOOMBERG/GIANLUCA COLLA
11 hour(s) ago

Analysts estimate fines from the alleged attempts to manipulate currencies may cost banks $41bn

Europe

Pouyanne to replace de Margerie as Total CEO

Patrick Pouyanne. Picture: AFP PHOTO/ERIC PIERMONT
11 hour(s) ago

New man has had senior roles at the group’s ‘upstream’ exploration units in Angola and Qatar

Asia-Pacific

Activist investor sells Sony stake as advice ignored

Daniel Loeb. Picture: REUTERS
11 hour(s) ago

Two years into a turnaround effort at the Japanese electronics maker, CEO Kazuo Hirai is struggling to show progress

Picture: THE TIMES

Softer markets across Europe slow Heineken

Brewers such as Heineken, SABMiller and Anheuser-Busch InBev have pursued growth through acquisitions as sales volume fell in the US and Europe

Americas

Yahoo investors reassured on turnaround plan

Marissa Mayer. Picture: REUTERS
11 hour(s) ago

CEO Marissa Mayer goes on the offensive after shareholder Starboard Value called for a breakup of the group

MMI plans to set up India joint venture

Group will become first South African insurer to enter the health insurance market in a South Asian country

Mining

Northam Platinum secures new BEE deal

Picture: THINKSTOCK
1 day(s) ago

New black economic empowerment structure will give platinum producer 35.4% black ownership once stake held by Toro Trust is included

Energy

PetroSA takes knock from Project Ikhwezi costs

A chimney flares at PetroSA's Mossgas facility in Mossel Bay. Picture: THE TIMES
1 day(s) ago

State-owned oil firm impairs production and exploration assets by R3.4bn, largely because of delays and rising costs on plan to prolong life of Mossgas gas-to-liquids plant

Mining

Norilsk severs its connection with Africa

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
2 day(s) ago

Norilsk stated its intention to sell its 50% of Nkomati Nickel, which it owned jointly with JSE-listed African Rainbow Minerals, and its 85% stake in Tati Nickel Mining in Botswana towards the end of last year

Retail & Consumer

Rekorderlig targets changing tastes

Cider products. Picture: ROBBIE TSHABALALA/FINANCIAL MAIL
2 day(s) ago

Swedish cider company, which entered the SA market last month, is looking to tap into the same trend which is buoying craft beer producers

Financial Services

Wonga ‘won’t appoint acting CEO’

Kevin Hurwitz, CE of Wonga SA. Picture: SUPPLIED
1 day(s) ago

Online microlender says the management team is ‘strong’ and does not plan to appoint an interim CEO after resignation of Kevin Hurwitz

Europe

Adidas stock jumps as ‘imminent’ bid for Reebok is noted

INVESTOR CONFIDENCE: An official 2014 World Cup football printed with an Adidas logo, in Sion May 31 2014, Switzerland. Picture: REUTERS
2 day(s) ago

Group of investors plans to bid about €1.7bn for the company’s Reebok unit

Companies

Vodacom ‘makes sense’ for Vodafone

A customer waits outside the shuttered entrance of a Vodafone store ahead of opening in London. Picture: BLOOMBERG
3 day(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

Retail & Consumer

Cashbuild reports 10% jump in revenue for September quarter

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

The group’s 18 new stores opened since July 1 last year have contributed 6% of the revenue increase

Industrials

Sappi redeems part of R750m bond

FUTURE: Workers stand beside storage towers at Sappi’s Ngodwana wood mill in Mpumalanga on  Wednesday. Picture: BLOOMBERG
2 day(s) ago

Paper group faces a number of local and offshore debt obligations over the next five years

Markets

Platinum stock above ground remains a puzzle

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
3 day(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

Mining

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

AngloGold Ashanti CEO Srinivasan Venkatakrishnan. Picture: MARTIN RHODES
6 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

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
6 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

Retail & Consumer

Pick n Pay turnaround shows modest results

Picture: FINANCIAL MAIL
6 day(s) ago

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
6 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

Retail & Consumer

Tiger Brands rushes to shore up trust after food recall

Picture: THINKSTOCK
6 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
6 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
7 day(s) ago

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

Opinion

STRAIGHT TALK: Too many rules disable boards

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

Retail & Consumer

Taste targets wealthy consumers in Arthur Kaplan Jewellers deal

Taste Holdings CEO Carlo Gonzaga
1 day(s) ago

Aims at satisfying demand for luxury Swiss watches in subequatorial Africa

Financial Services

Old Mutual may grow stake in Indian insurance venture

Julian Roberts, group CEO of Old Mutual. Picture: FINANCIAL MAIL
1 day(s) ago

An increase in shareholding would give Old Mutual higher exposure to the high-growth market of India, which boasts 1.2-billion people

Telecoms & Technology

Dimension Data buys two technology firms

Derek Wilcocks. Picture: RUSSELL ROBERTS
1 day(s) ago

The acquisitions will open the group to new clients in the education, telecommunications and financial services markets

National

Outspoken directors of SAA face Brown’s axe

Lynne Brown. Picture: TREVOR SAMSON
1 day(s) ago

Chairman Dudu Myeni, who has a close personal relationship with President Jacob Zuma, is spared

Retail & Consumer

Tiger Brands plans to destroy recalled products

Picture: THINKSTOCK
1 day(s) ago

Firm will destroy the 17,000 packs of Tastic Simply Delicious sauces and ready-to-eat rice products it is removing from retailer shelves

National

Post Office top brass take 26% raise amid strike

Picture: SOWETAN
1 day(s) ago

Total salary bill for the four executive directors, together with the 20 senior managers, jumped to R32.5m in the year ended March, annual report shows

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

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

National

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

Picture: SOWETAN
3 day(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

Mining

Wesizwe Platinum set for the ‘perfect storm’

The main shaft at Wesizwe’s Bakubung platinum mine in Rustenburg. Picture: SUNDAY TIMES
3 day(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

Industrials

PPC raises defences against Foord ‘demand’

Ketso Gordhan. Picture: MARTIN RHODES
2 day(s) ago

Foord says it has been able to gain the support of another shareholder, Visio Capital Management, to support its bid to replace the board

Mining

RBPlat’s new mine suffers difficulties

Royal Bafokeng Platinum CEO Steve Phiri. Picture: SUNDAY TIMES
2 day(s) ago

Target date for steady state production now extended by six months

Europe

Total CEO dies in plane accident

Christophe de Margerie. BLOOMBERG/FABRICE DIMIER
2 day(s) ago

Christophe de Margerie is killed when business jet collides with snow plough during takeoff at Vnukovo International Airport in Moscow

Healthcare

Aspen seals therapy licensing deal

Aspen Pharmacare CEO Stephen Saad. Picture: FINANCIAL MAIL
2 day(s) ago

Drugs manufacturer signs agreements to acquire license rights to innovative unmodified oral testosterone replacement therapy from US specialty pharmaceutical firm

Financial Services

Guardrisk eyes Kenya and Mozambique

Guardrisk MDHerman Schoeman. Picture: FINANCIAL MAIL
2 day(s) ago

Specialist insurer Guardrisk sees opportunities to introduce cell captive insurance

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
4 day(s) ago

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

Business Times

Activist Botha ruffles Tsogo Sun's feathers

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

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

Retail & Consumer

Watchdog conditionally approves Clover, Dairybelle deal

Picture: THINKSTOCK
7 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

Industrials

Bidvest, Grindrod deal abandoned on reputation concerns

Picture: SUNDAY TIMES
7 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

JSE Sens

 
All Share 48104.66-0.20% down
Top 40 42921.33-0.26% down
Financial 15 14201.480.69% up
Industrial 25 57737.56-0.34% down
Resource 10 48563.85-0.78% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
FTSE 100 6418.380.29% up
Dow Jones 16705.741.48% up
All Share 48104.66-0.20% down
ASX 5369.900.00% same
S&P 500 1956.8701.54% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
USD/ZAR 10.9581-0.35% down
GBP/ZAR 17.5737-0.42% down
EUR/ZAR 13.8699-0.27% down
JPY/ZAR 0.1014-1.21% down
AUD/ZAR 9.6149-0.24% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
Gold 1228.8500-1.04% down
Platinum 1252.0000-0.79% down
Silver 17.22600.21% up
Palladium 776.50001.24% up
Brent Crude Oil 86.5602.18% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank

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  • All Share : 48104.66
    Change: -0.20%
    Top 40 : 42921.33
    Change: -0.26%
    Financial 15 : 14201.48
    Change: 0.69%
    Industrial 25 : 57737.56
    Change: -0.34%
    Resource 10 : 48563.85
    Change: -0.78%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • FTSE 100 : 6418.38
    Change: 0.29%
    Dow Jones : 16703.82
    Change: 1.47%
    Hang Seng : 23340.65
    Change: -0.27%
    ASX : 5369.90
    Change: 0.00%
    S&P 500 : 1956.750
    Change: 1.54%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • ZAR/USD : 10.9581
    Change: -0.35%
    ZAR/GBP : 17.5737
    Change: -0.42%
    ZAR/EUR : 13.8698
    Change: -0.27%
    ZAR/JPY : 0.1014
    Change: -1.23%
    ZAR/AUD : 9.6149
    Change: -0.24%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • Gold : 1228.8500
    Change: -1.04%
    Platinum : 1252.0000
    Change: -0.79%
    Silver : 17.2260
    Change: 0.21%
    Palladium : 776.5000
    Change: 1.24%
    Brent Crude Oil : 86.550
    Change: 2.17%
    All data is delayed by 15 min
    Data supplied by INET BFA
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