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Brian Riley

Curator appoints CE for African Bank's ‘good bank’

Initial focus of CE designate Brian Riley will be on development of financial, operational brand strategy for African Bank’s envisaged ‘good bank’

Retail & Consumer

Ellies plunges on trading update


Shares in electronics company crash as much as 21% on Tuesday following a weak trading update and the announcement of a rights issue.


Sactwu skips dividends to save jobs

Stuart Queen.  Picture: HETTY ZANTMAN

SA Clothing and Textile Workers Union’s efforts to sew up struggling operations has seen it sacrifice dividend flows in a bid to retain jobs jobs


Sibanye reports sharp increase in costs

Neal Froneman. Picture: MARTIN RHODES

Gold producer says operational disruptions are primarily factor during January, February, with performance improving significantly during March


Octodec reports increase in half-year distributions


Property company says redevelopments of existing properties will enhance property portfolio, resulting in sustainable, growing dividends

Mining. Picture: THINKSTOCK

Iron-ore miners aim to keep steady output

Despite falling prices, world’s leading miners have expansion plans designed to increase market share


Global rival offers R294m for Metmar

Cranes unload iron ore from a ship at a port in Rizhao, Shandong province, China.  Picture: REUTERS

Eyebrows raised in the market on Friday when Metmar shares surge 27% to 89c before details of the proposed transaction were announced


COMPANY COMMENT: Gijima; xenophobic violence


Delisting could be IT firm Gijima’s saving grace, while recent xenophobic violence affects attendance at the Coatings for Africa 2015 exhibition at the Sandton Convention Centre

International companies


GM set for India blitz as Korean labour costs rise

Chevrolet cars are seen at a General Motors dealership.  Picture: REUTERS

Detroit car manufacturer intends to make increasingly investor-friendly India a new global manufacturing and export hub


Tech executive Dave Goldberg died after hotel gym accident

Sheryl Sandberg, chief operating officer of Facebook, arrives with her husband David Goldberg, CEO of SurveyMonkey, for the first day of the Allen and Co. media conference in Sun Valley, Idaho in this July 9 2014 file photo. Picture: REUTERS

Prosecutor confirms SurveyMonkey CE Dave Goldberg died from head injury while exercising at Mexican resort, he was husband of Facebook chief operating officer


Megamerger of Monsanto and Syngenta could spark further deals


Syngenta shares soar on takeover speculation as Monsanto bids to create a giant in the market for seeds and crop chemicals with more than $30bn


KFC to take a bite of Myanmar market

KFC is poised to become first major US fast-food retailer in Myanmar, as long-isolated nation braces for influx of international food outlets


Multibillion-dollar industry seen as battery makers power up

Tesla Motors CE Elon Musk speaks during the unveiling of the company's 'Powerwall' in Hawthorne, California, the US, on April 30. He says a greener power grid furthers the company's mission to provide pollution-free energy. Picture: BLOOMBERG/TIM RUE

New Tesla Energy is far ahead of its competition in offering an integrated system for generating solar power and storing it on site, says Elon Musk

Standard & Poor’s. Picture: BLOOMBERG/MICHAEL NAGLE

S&P warns BHP rating vulnerable to weak iron ore, oil prices

S&P warns it may cut BHP Billiton’s credit rating in next 12 months, reflecting miner’s commitment never to cut dividend, even in face of weak prices for two biggest earners


Chances of Evraz recovery ‘positive’


Huge potential of business rescue of Evraz Highveld Steel & Vanadium when the steel market turns, creditors told


McDonald’s announces turnaround plan


Global giant will sell off more company-owned restaurants to franchisees, restructure its international operations — including in Africa — and cut costs


Call for action on industrial grant logjam


Department has been inundated with claims and has insufficient funds to cover those already submitted


Refining cushions Shell profits after oil price slide

Ben van Beurden. Picture: AFP PHOTO/BEN STANSALL

Refining, trading cushion drop in Royal Dutch Shell’s first-quarter profits, which fell less than expected after collapse in oil prices decimate earnings from oil, gas output


VW board will discuss recruitment of new chairman, sources say

Berthold Huber.  Picture: REUTERS

Volkswagen’s supervisory board will discuss finding new chairman to fill void left by Ferdinand Piech’s shock departure last month


HSBC weighs its Hong Kong plan

The HSBC logo hangs outside a bank branch in London. Research appears to indicate that the bank will recover eventually after the money-laundering scandal at a subsidiary in Switzerland. Picture: BLOOMBERG/SIMON DAWSON

Political and tax concerns at home will influence the potential relocation for Europe’s biggest bank, writes Steve Slater


Berkshire will thrive, say Warren Buffett

Berkshire Hathaway chairman Warren Buffett.  Picture: REUTERS

‘We will be very willing to act if economic turbulence of any kind occurs, and will be prepared — and most people won’t be,’ says Berkshire Hathaway’s Warren Buffett


Siemens investigated by Chinese regulator over hospitals bribery


State agency accuses Siemens of violating competition law by donating medical devices in return for exclusive follow-up agreements

Telecoms & Technology

Over 1,000 Telkom employees affected by outsourcing


Solidarity says 1,170 Telkom employees affected by the outsourcing of the group’s three business operations that would be run by third parties

Financial Services

Coronation shares drop again

Anton Pillay. Picture: FINANCIAL MAIL

Coronation has taken a bit of a sentiment knock but it remains a very good company, says analyst


Amplats plan to retrench 474 workers reignites NUM’s anger


Largest platinum producer says it has found permanent places for 774 of the 1,248 employees identified for retrenchment

Telecoms & Technology

Telkom rings the changes but is not yet in the clear

Telkom CEO Sipho Maseko. Picture: ARNOLD PRONTO

Once-off retrenchment costs at telecommunications company will hit full year headline earnings per share by up to 40%


Berkshire Hathaway profit up 10% as railroad rebounds

Berkshire Hathaway chairman Warren Buffett.  Picture: REUTERS

Operating results easily beat forecasts, boosted by company’s railroad and insurance businesses and gains from derivatives


COMPANY COMMENT: Telkom; Clicks Group

Telkom. Picture: SUNDAY TIMES

Cost-cutting Telkom keeps up the fight while Clicks pushes its promotional activity at its retail stores as the tough consumer landscape shows no sign of changing


COMPANY COMMENT: Advtech; Aquarius Platinum


Market approves ‘sensible’ Advtech, as Aquarius Platinum thrives despite prevailing PGM prices

Transport & Tourism

SA Airlink to fly tourists directly to luxury safari lodges

One of four Cessna Grand Caravan aircraft bought by SA Airlink in a finance deal with Nedbank Capital to transport holidaymakers to upmarket game lodges in Mpumalanga. Picture: SUPPLIED

Latest flight offering to luxury lodges in Mpumalanga allows SA to compete with destinations in East Africa and Botswana


Demand will secure coal assets, says Glencore

Glencore Xstrata CEO Ivan Glasenberg

Glencore CEO Ivan Glasenberg makes clear that fossil fuel assets are still desirable

Transport & Tourism

Weaning SAA off state assistance ‘might take some time’

Treasury director-general Lungisa Fuzile. Picture: FINANCIAL MAIL

Treasury director-general stresses national carrier has made great strides in cutting costs and will produce improved financial results in the future


Is Tim Cook sufficiently excited by Apple Watch?

Tim Cook. Picture: BLOOMBERG

Company is, characteristically, keeping tight lid on how smartwatch is going, it is first all-new hardware product from tech giant in five years


China resorts to market for antidote to debt pains

Picture: REUTERS

Investor appetite for new shares has rarely been stronger after a world-beating rally in the Shanghai Composite added $4.4-trillion to China’s market capitalisation




Reit gives stamp of approval to unlisted funds, while Amazon’s web services business proves its critics wrong


ON THE MONEY: The real Eskom story is: the money

Eskom is bleeding cash for its new build programme, the massively delayed and over budget Kusile and Medupi power stations


‘Old boys’ say Sony chief is losing his way

Picture: REUTERS

A group of former top Sony executives say CE Kazuo Hira has lost sight of innovation by focusing on cost cutting


Tesla unveils battery to ‘transform energy infrastructure’

Elon Musk.  Picture: REUTERS

Electric car pioneer Tesla unveils ’home battery’ which founder Elon Musk says will help change the ’entire energy infrastructure of the world’


Shivambu suggests raft of ‘aggressive’ steps to deal with transfer pricing abuse

Floyd Shivambu. Picture: TREVOR SAMSON

Companies that engage in tax avoidance practices such as abuse of transfer pricing should be expropriated without compensation, EFF MP Floyd Shivambu proposes in Parliament


Aquarius production grows 6% despite Zimbabwe issues

Aquarius Platinum CEO Jean Nel. Picture: PHILIP SCHEDLER

Higher production and ‘excellent cost management’ enables Aquarius to beat fall in PGM prices, says analyst


European assets drive Redefine profit

Redefine Properties International CEO Mike Watters. Picture: FINANCIAL MAIL

Company grows its earnings by nearly 20% in the six months to February on strongly performing assets in the UK and Germany

Financial Services

Argon plans to reach out to retail investors


Black-controlled asset management company hopes to attract individuals looking to invest in equities, fixed income or a combination of asset classes


Market happy with BAT’s slow burn


Better second half expected, when price increases and volume growth come into play


Choppy waters at Standard Chartered

Standard Chartered.  Picture: REUTERS/BOBBY YIP

Board under pressure from investors to move to Asia as UK taxes on banks continue to rise, with finance director Andy Halford saying a move in domicile is ‘under review’


Anglo American ramps up output at SA coal mine after wildcat strike


Anglo American says it is ramping up output at its Kleinkopje colliery in SA to meet production targets after a recent 13-day wildcat strike by workers


Google shares rise after online ad sales drive revenue higher

Picture: REUTERS

Google reports higher quarterly revenue, profit as rising online ad volume offsets a hit from strong dollar, sending internet company’s shares higher in after-hours trading

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