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Retail & Consumer

Steinhoff updates on German listing

Frankfurt stock exchange. Picture:  REUTERS

Steinhoff plans secondary listing in Frankfurt for the fourth quarter and announces it has raised its stake in PSG to just above 25%

Telecoms & Technology

MTN Zakhele granted extension to continue trading shares until October


Financial Services Board grants MTN Zakhele licence exemption though to end October ahead of news of listing

Financial Services

Zico looks for new ventures for second fund


Black-controlled investment firm looks north of the border as it re-evaluates investment in advertising media company Outdoor Network

Telecoms & Technology

Cost routing is TeleMasters’ future bet


Communications group has faith in least-cost routing market deemed unviable in recent years because of falling mobile prices

Financial Services

Old Mutual man rises to new heights in firm reshuffle

Iain Williamson. Picture: FINANCIAL TIMES

Iain Williamson leaves MD post at insurer’s ‘retail affluent’ segment to serve as finance director


Rumbles over Uber as bus system deal inked

City of Johannesburg wants ‘some regulation over moving force’ of app-based taxi service Uber


KWV seeks to tap into Russia and US

Bid for new overseas markets to increase profit and make KWV Holdings a global, diversified alcoholic beverages group

Financial Services

New African Bank set for slow rise from ashes

Tom Winterboer.  Picture: RUSSELL ROBERTS

Questions remain on what led to the failure of the unsecured lender and who should be held responsible


ON THE MONEY: BEE deals beneficial, but be careful

American and European monetary policy makers are largely to thank for the R317bn in black wealth creation in SA

International companies


Rio Tinto smelter in New Zealand faces possible power crunch

Smoke billows from chimneys at the Rio Tinto alumina refinery in Gove, 650km east of Darwin in Australia's Northern Territory.  Picture: REUTERS

Aluminium smelter, which has suffered losses in two of last three years, faces July 1 deadline to decide whether to extend power supply contract with Meridian Energy


Mahindra aims for double-digit growth in Africa

The extended wheelbase provides for a larger load box.  Picture: QUICKPIC

Utility and tractor producer sets up Africa-focused business unit, hopes aggressive expansion will help spur 10-fold increase in business


China eases rates to prop up markets

A vendor waits for buyers at her pet fish stall in Beijing. Although the Chinese stock market rallied last year, this did not have a trickle-down effect on retail sales figures. However, this does not mean that a stock market downturn would similarly not affect them. Picture:  EPA/WU HONG

Decision to cut both lending rates and reserve requirements at some banks seen as almost entirely driven by the need to stabilise Chinese bourses after they lost 20% in a few weeks

Picture: REUTERS

Sony plans $3.6bn offering

Sony to issue new shares for first time since 1989, part of capital-raising plan that highlights potential of its fast-growing sensor business, but leaves some investors nervous


German prosecutors investigate Deutsche Bank


Prosecutors say they are investigating five individuals in connection with Deutsche Bank’s participation in global interest rate rigging scandal


Bank wary of ultra-low global interest rates

Bank for International Settlements warns global economic growth remains uneven, debt in many areas high and rising, and explosion of credit growth shows renewed financial imbalances


Amazon to offer loans to sellers in China, seven other countries

OVERKILL: Amazon’s Mechanical Turk online work marketplace proved a useful resource for researchers wanting to discover at what point in-your-face advertisements become counterproductive.  Pcture: BLOOMBERG/DANIEL ACKER

E-retailer will launch loan plan for small sellers later this year in eight more countries where credit is becoming key factor in competing for new vendors


Sky mulls bid of £4.5bn for Formula One

Formula One commercial supremo Bernie Ecclestone. Picture: REUTERS

Bidders line up for one of the most valuable prizes in global broadcasting, but Grand Prix team chiefs have warned of empty seats, fewer television viewers and races increasingly dominated by a handful of drivers


Hanoi to lift business restrictions

A man drives past the Hanoi Stock Exchange, in Hanoi, Vietnam, on Friday. Vietnam's government has approved the removal of foreign ownership caps on most listed firms. Picture: REUTERS

Communist government scraps rules limiting the stake foreigners can own in some locally listed companies in move to boost growth


BEE has paid off to the tune of R317bn


Black economic empowerment deals by JSE companies result in R317bn passing into the hands of black partners, employees and communities since 2000

Financial Services

Visa denies Fundamo shutdown

A Gazprombank sign for Visa, MasterCard and Union Card on the door of a shop in St Petersburg. Picture: REUTERS

Contrary to what a number of Memeburn sources say, Visa says it is ‘keeping Cape Town office open’ and that Fundamo, Africa are ‘still incredibly important’


New concrete producer defies odds to post profit


Nigerian-backed newcomer Sephaku Cement ramps up production, sees revenue shoot up 36%


Acquisitions lift Hudaco’s first-half performance

Hudaco CEO Graham Dunford. Picture: SUPPLIED

Industrial group says acquisition strategy to reduce dependence on South African mining, manufacturing sectors, increase exposure to other sectors is paying off

Financial Services

Kagiso Tiso deal improves Servest’s BEE credentials


Deal will enhance Servest’s position to win public sector contracts and take on rivals such as Bidvest


Sephaku Cement increases production towards steady state at both plants

An employee uses a control panel to disperse premixed concrete, manufactured by Holcim  at the headquarters of Fertigbau Wochner  in Dormettingen, Germany. Picture: BLOOMBERG/MARTIN LEISSL

Nigerian-backed newcomer to the regional cement industry is ramping up production towards steady state at both its Delmas and Aganang plants


Curro mooted as suitor for Advtech

Rumours swirl that fast-growing PSG-controlled private education business Curro Holdings wants smaller rival Advtech


Redefine set to take full control of Fountainhead

Redefine Properties' head office in Rosebank, Johannesburg. Picture: SUPPLIED

The transaction now only requires the approval of shareholders to be completed


Mthatha mall just the start for Billion Group

Sisa Ngebulana. Picture: FINANCIAL MAIL

Project part of a R16bn investment earmarked for the Eastern Cape over the next 10 years

Financial Services

Healthcare deal eyed in Nigeria


Kagiso Tiso Holdings eyes healthcare sector in Nigeria as it builds a pan-African investment company


COMPANY COMMENT: Listed property index; KWV


Property sticking to comeback promise while Paarl-based liquor group KWV’s annual general meeting of probably won’t be a festive occasion given that the over-the-counter share price has stumbled to 550c


Hudaco reaps rewards of acquisitions


Industrial products distributor Hudaco reports stellar results as acquisition strategy to reduce dependence on SA’s mining and manufacturing sectors ‘pays off’


SA office spaces are all dressed up — with no one to fill them


Sluggish economy hits property funds as few companies seek new office space, writes Alistair Anderson

Financial Services

African Bank reduces first-half loss


Troubled unsecured lender says lower monthly disbursements, paydown of loans, which decreased income from operations, affected earnings


Political royalty told to pay for Aurora

EQUAL: President Jacob Zuma and Michael Hulley at the Constitutional Court in 2008. Picture: THE TIMES

Aurora Empowerment Systems’s directors and management — including elements of SA’s political elite — stand personally liable for about R1.7bn


Muilenburg has big decisions to make at Boeing

Dennis Muilenburg. Picture: BLOOMBERG/CHRIS RATCLIFFE

On his watch Boeing must decide whether to pursue a $10bn takeover of Sikorsky Aircraft, move forward on an all-new jetliner and keep — or cancel — the venerated 747 jumbo


COMPANY COMMENT: Barclays Africa; Eskom

Maria Ramos. Picture: MARTIN RHODES

Manager’s exit allows group CEO Maria Ramos to restructure while Eskom’s short-sighted and self-serving decisions make it hard to pity the power utility


Local companies are still investing — just not here

Reserve Bank quarterly bulletin shows foreign direct investors in SA actually pulled money out during the first quarter


Risk-aware Exxaro pulls back on capex

Exxaro finance director Wim de Klerk. Picture: RUSSELL ROBERTS

Exxaro’s shares picks up almost 1% after the company’s operational update


Wescoal passes dividend after cautious outlook


Coal miner and trader Wescoal’s trading outlook hit by increased competition, load shedding and slowing demand from the steel sector


Invicta posts good results in tough time

Charles Walters. Picture: FINANCIAL MAIL

Earnings per share down 6% amid global slowdown and difficult domestic conditions, including ‘debilitating labour unrest’ and power shortages


Safari builds a desirable asset portfolio


Township-mall focused Safari Investments’ fast-growing portfolio, including first clinic, may attract larger funds


Agriculture unit helps boost Omnia

Omnia MD Rod Humphris. Picture: MARTIN RHODES

Market welcomes Chemicals producer Omnia’s results in tough market that put pressure on mining and chemicals divisions


Investigators recommend no ‘enforcement action’ be taken against Gold Fields

Gold Fields CEO Nick Holland. Picture: MARTIN RHODES

After probing empowerment deal, investigations arm of Securities Exchange Commission recommends no "enforcement action" be taken against Gold Fields


Key PetroSA executives finally suspended

Nosizwe Nokwe-Macamo. Picture: FINANCIAL MAIL

Board of state-owned oil company PetroSA sends home CEO Nosizwe Nokwe-Macamo and chief financial officer Lindiwe Mthimunye-Bakoro

Financial Services

Wiese’s Stellar aims for control of Cadiz

Christo Wiese. Picture: FINANCIAL MAIL

Stellar Capital Partners’ offer to acquire 100% of troubled asset manager Cadiz heralds delisting of struggling asset manager

Standard Bank

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