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R&E minority shareholders get court nod to go after Investec

GOLD SMELTING: Job creation could best be achieved by industrial development. It was believed that manufacturing could employ a much higher proportion of workers than mining because of its greater need for skilled labour.  Picture: PIETER DE RAS

Minority shareholders in former Kebble-controlled Randgold & Exploration plan action to claim R1.3bn from Investec Bank


Zinc responds positively to Glencore’s plan to cut output

Picture: REUTERS

Commodities giant says it will cut 500,000 tonnes of zinc production in latest move to withstand weak commodities prices

Trade & Industry

Cheap but no longer nasty — Tata’s big plans for SA

The Tata Bolt. Picture: SUPPLIED

Indian car maker Tata says it is anxious to transform its South African image through value-for-money vehicles


Business Day wins liquidation access

ACCESS:  Business Day’s Stuart Theobald, left, and advocates Steven Budlender, centre, and Chris McConnachi at the High Court in Johannesburg. Picture: FREDDY MAVUNDA

Alliance Mining Corporation’s liquidators relent after three-year battle for access to report on company’s failure


Mondi maintains growth trajectory

Mondi CEO David Hathorn. Picture: FINANCIAL MAIL

International packaging and paper company Mondi wraps up strong third quarter while local unit benefits from weaker rand

Financial Services

Moody’s lifts outlook on local banks to stable


SA and China the only Brics states whose banking systems have a stable rating from the agency

Retail & Consumer

AB InBev CEO appeals to SABMiller shareholders for second day

A waiter serves a glass of beer ahead of an Anheuser-Busch InBev shareholders meeting in Brussels in this April 30 2014 file photo.  Picture: REUTERS

SABMiller board says Anheuser-Busch InBev's takeover proposal substantially undervalues the company


COMPANY COMMENT: Capitec; Listed property


Diversification will aid Capitec’s stellar rise, while it looks as if listed property is finally losing steam after a great five-year run

A measuring hose for emissions inspections in diesel engines sticks in the exhaust tube of a Volkswagen Golf 2,0 TDI diesel car at a garage in Frankfurt an der Oder, eastern Germany. Picture: AFP

NEWS ANALYSIS: VW fallout’s boost for palladium likely to continue

Metal’s biggest monthly jump in two years brings it in line with supply and demand, write Yuliya Fedorinova and Andrey Lemeshko


Glencore closes another SA mine

Picture: REUTERS

Global company blames poor market conditions for closure of its Eland Platinum Mine and loss of 818 jobs

Financial Services

ERA acquisition broadens JLT’s local presence

A container ship pulls into Durban Port.  Picture: THE TIMES

Acquisition of marine, transportation and logistics risk consultancy provides for further expansion in Southern African


Call for probe as arms firm Denel fails to pay suppliers

A South African Air Force Rooivalk helicopter demonstrates its capabilities at an air show. The attack helicopter has been earmarked by state arms manufacturer Denel for an upgrade. Picture: THE TIMES

State arms company Denel falls from cash surplus of R1.9bn in March to failing to pay its suppliers just six months later

Odgers Berndtson

Leading with passion is the only way to lead

Virgin Active SA managing director Ross Faragher-Thomas. Picture: SUPPLIED

Passion and energy have become critical and complementary attributes for today’s business leaders, says MD of Virgin Active SA Ross Faragher-Thomas

Featured Partner




Afrox holds on to fizzy drink contract while SABMiller’s worth depends in part on how badly it wants exposure to Africa’s fast-growing consumer markets

International companies


‘Bond king’ Gross sues Pimco over his ouster

American philanthropist Bill Gross does not expect to live long enough to see all his remaining $2bn fortune given away. He says his family will have to finish the job.  REUTERS/JIM YOUNG

Global bond guru Bill Gross sues Pimco, accusing ‘cabal’ at bond firm he co-founded of forcing him out to grab bigger slice of its profit


Surge in insuring AB InBev’s debt ahead of possible acquisition

LOCAL FLAVOUR: SABMiller’s Hero lager is produced at the company’s Onitsha brewery in Nigeria’s Anambra state. Picture: ONEREDEYE

Credit-default swaps’ rise shows concern over AB InBev’s third bid to acquire competitor SABMiller


NEWS ANALYSIS: South American beer barons now battle over SABMiller

QUENCHER: A woman buys beer at Copacabana beach stall in Rio de Janeiro. Brazilian Jorge Paulo Lemann, South America’s richest person, and Colombia’s Santo Domingo family  are on opposite sides of AB InBev’s offer for SABMiller. Picture: BLOOMBERG/DADO GALDIERI

Santo Domingos have the power to thwart Brazilian billionaire Jorge Paulo Lemann, a top shareholder in Belgian-Brazilian brewer, writes Blake Schmidt

Facebook’s dislike button takes form of emojis

Social network says it is finally letting users do more than ‘like’ what they see in their news feed, express anger, sadness, love, traditional like


Coal industry turns to green fund for assistance

A worker sits on a truck being loaded with coal at a railway yard on the outskirts of the western Indian city of Ahmedabad this week. Picture: REUTERS

The coal industry, viewed as a key contributor to global warming, is seeking a once improbable collaborator

Transactions print on Wednesday at Hong Kong Exchanges and Clearing Ltd in Hong Kong, China. Hong Kong stocks closed at a six-month low as jitters from the mainland market spread. Picture: EPA/JEROME FAVRE

Study looks at how sports affect markets’ performance

IG has complied research into how sports performances affect indices, shares on them, tips SABMiller as ‘one to watch’ as Rugby World Cup progresses

Other Sport

Phumelela in pull for R1m Vaal turf race


Phumelela Gaming & Leisure will be keen to keep new backer SAP in the sport


UK hotel property group set to list on JSE’s AltX


UK hotel-focused company joins firms taking up secondary listings on JSE for wider shareholder bases and to raise capital

Transport & Tourism

Sanral return to bond market welcomed with oversubscription

PAY UP: An e-toll gantry on the N1 through Pretoria. Picture: SUNDAY WORLD

Roads agency has successful auction in difficult time in bond market with financial results said to have helped attract bids


US VW chief admits he knew of emissions problem in 2014

Michael Horn, president and CEO of VW America. Picture: AFP

Michael Horn prepares to apologise to Congress over ‘deeply troubling’ pollution scandal as it emerges he knew of potential problem with emissions as early as spring 2014

Retail & Consumer

AB InBev urges SABMiller shareholders to seize ‘opportunity’

An employee monitors a production line at the SABMiller plant in Cape Town. The acquisitive brewer is now a target of AB Inbev, the world’s largest.  File picture: BLOOMBERG/DEAN HUTTON

World’s biggest brewer urges shareholders at rival beer giant SABMiller to go against board and accept new takeover offer


Merger of Chinese start-ups to create booking-services giant

Billionaire Robin Li. Picture: BLOOMBERG/TOMOHIRO OHSUMI

Two Chinese start-ups separately backed by Alibaba and Tencent agreed to $15bn merger

Transport & Tourism

Prasa berated for wasteful spend

Prasa chairman Popo Molefe and acting CEO Nkosinathi Khena face a tough job putting the rail parastatal back on track. Picture: PUXLEY MAKGATHO

Auditor-general condemns almost R20m in ‘fruitless and wasteful’ expenditure including interest on late payments and cash to employees and consultants


Samsung flags nearly 80% jump in operating profit

A worker walks at a construction site of Samsung Engineering in Seoul.   Picture: REUTERS

Samsung Electronics indicates jump in quarterly profit, as sales of chips, displays offset stiff competition in smartphones from Apple, cheaper Chinese rivals

Telecoms & Technology

Altron takes a beating as orders slow

GLUM:  Altron CEO Robbie Venter addresses the media and analysts yesterday on the group’s interim results, which one analyst described as highly disappointing. Picture: MARTIN RHODES

Diversified electronics, telecoms and multimedia group to dispose of Powertech Transformers and close Altech Node

African Business

Ecobank ditches plan to sell Nigeria stake


Ecobank Transnational scraps sale of part of its Nigerian business because falling market values will crimp price

Financial Services

Anchor grows assets despite dumping Kellermann funds


Firm delivers double-digit increase in assets under management despite greater volatility

Retail & Consumer

Brewers’ merger ‘would hurt consumers’

NO DEAL:  Public Investment Corporation CEO Daniel Matjila. Picture: SUNDAY TIMES

Public Investment Corporation CEO Daniel Matjila says Anheuser-Busch InBev takeover of brewer SABMiller would create ‘some kind of monopoly’


Bidvest to restructure business

Brian Joffe. Picture: MARTIN RHODES

Company says it plans to restructure business operations into three distinct, independent companies, each with its own statutory board


Scandal-hit VW needs more than a year to fix all cars


As Volkswagen scrambles to put crisis behind it, CE Matthias Mueller says it will take at least 12 months to fix all cars fitted with pollution cheating devices


Sibanye’s new deal raises its PGM play

Sibanye Gold CEO Neal Froneman. Picture: MARTIN RHODES

Aquarius shares surge as acquisition puts it in top five platinum group miners


COMPANY COMMENT: Sibanye; Times Media Group

Sibanye Gold CEO Neal Froneman addresses the media on the group’s results in Sandton on Thursday. He expressed doubts about the viability of listing two Amplats mines. Picture: MARTIN RHODES

Sibanye CEO makes a play for Aquarius while Times Media Group publications offers shareholders good news that it’s once again profitable


Carbon pricing must take local realities into account

TAKE THE LEAD: Governments are starting to recognise that it is in their interest to act now against emissions. Picture: THINKSTOCK

Business and government need to agree on a carbon emissions strategy that is based on sound policy underpinned by set pricing and clear rules to guide the process


Vodafone could shed Vodacom in bid to seal merger

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

Vodacom among entities considered for sale to secure Liberty deal, write Leila Abboud, Pamela Barbaglia and Kate Holton

Financial Services

PSG Konsult buys DMH majority stake


PSG Konsult acquires 70% of Mauritius wealth manager DMH Associates in ’smallish but nice deal’


Why De Beers lab near London makes diamonds it will never sell


Gems are as perfect as any found at Tiffany & Co, yet their destination is office complex where team develops machines for buyers trying to spot synthetic stones


London listing in sight for Mediclinic


Listing hinges on Mediclinic International clinching a reverse takeover with United Arab Emirates-based Al Noor Hospital Group


COMPANY COMMENT: Glencore; Resource Generation

Picture: REUTERS

Unclear whether Glencore’s a basket case or set to mend, while battle under way for control of the Resource Generation board hots up


COMPANY COMMENT: Ascendis; Capitec

Ascendis CEO Karsten Wellner. Picture: TREVOR SAMSON

Ascendis climbs into future with Sandoz, while Capitec’s outstanding performance talks to its ability to boost its bottom line by penetrating new markets

Retail & Consumer

Currency slides hit SABMiller revenue


Increased lager sales in brewer’s growing African and Latin American markets more than offsets lower volumes in North America and Asia Pacific


STOCKWATCH: Aquarius Platinum stock soars on Sibanye’s cash offer


Shares of Aquarius Platinum soar to eight-month high as market applauds cash offer made by Sibanye Gold for company’s entire issued share capital


Oil firm bosses to hold climate change talks

RAZED:  Indonesia — the world’s fifth-largest emitter of greenhouse gases, mostly due to the destruction of palm forests like these — will be one of the countries in the spotlight at December’s climate change talks. Picture: REUTERS/WAHYU PUTRO

Company heads expected to renew call for realistic global carbon-pricing mechanism


Microsoft pushes deeper into computing hardware

Satya Nadella. Picture: REUTERS/THOMAS MUKOYA

Microsoft’s three-year-old computing-hardware effort has been a sideshow to its software business, but CE Satya Nadella has put Microsoft devices at centre of company’s strategy


Deutsche Bank joins China flight

A woman walks past a Huaxia Bank Co. branch in Guangzhou, Guangdong Province, China, in this March 26 2014 file photo. Picture: BLOOMBERG/BRENT LEWIN

Deutsche Bank’s signal that it may sell $3.5bn stake in Huaxia Bank shows fading appetite among global lenders for Chinese tie-ups


Toyota aims to commercialise semi-autonomous cars

Toyota demonstrates autonomous driving with a Lexus GS450h. Picture: AFP/YOSHIKAZU TSUNO

Toyota to bring to market cars that can autonomously change lanes, merge with traffic, and overtake other vehicles on highways by about 2020


South Africa’s last bullion bluechip battles relegation


Quarterly review of Top-40 Index puts AngloGold Ashanti at number 38 on an index now dominated by banks, technology companies, diversified mining firms

Financial Services

MMI sets R1bn aside for expansion

Nicolaas Kruger, MMI Group CEO addresses the media and analysts in Sandton on Wednesday.

Insurer to use war chest for acquisitions in South Africa and rest of Africa, as joint venture in India primed to take off

Transport & Tourism

Prasa to run all Gauteng trains from new centre


New rail centre in Kempton Park part of Prasa’s R172bn modernisation programme and is expected to improve train punctuality and safety


Deaths, financial woes keep Sasol mineworkers from court hearing

Sasol’s plant in Secunda. Picture: SOWETAN

Union workers dismissed from four coal mines and 10 shafts in Secunda in 2009 in long battle for back pay and accrued benefits


Imperial focus on core businesses after Neska sale


Proceeds from latest disposal by group to reduce short-term debt and fund expansion of core businesses

Retail & Consumer

SABMiller revenue hit by currency movements


Brewer brings forward release of interim trading update in order to ensure timely release of information during offer period


Renault board to meet on Nissan alliance

The interior has received plenty of enhancements.  Picture: QUICKPIC

French car maker plans to hold board meeting to discuss alliance with Japanese partner Nissan later on Tuesday, source close to matter says

JSE Sens

Standard Bank

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