• Thursday, September 03 2015
  • JSE Sens
Mining. Picture: THINKSTOCK

Impala Platinum proposes equity raise of R4bn

Platinum producer to use rights issue to fund new-generation mines as it scales back output from operations over next five years

Financial Services

Sanlam weathers ‘challenging’ first half

Picture: GALLO IMAGES/CHARLES GALLO

Financial services company says conditions are not supportive of growth in new business, middle-income market segment bears brunt of economic pressures

Transport & Tourism

MPs alarmed as SAA executives fail to explain R85m contract

Picture: SUNDAY TIMES

National carrier's executives hazy on R85m catering contract awarded to a German company

Retail & Consumer

Woolworths appoints new CEO

Woolworths SA CEO Zyda Rylands. Picture: TREVOR SAMSON

Retailer announces appointment of long-time employee Zyda Rylands as new CEO

Business

Companies lagging in transformation, says BMF

Picture: THINKSTOCK

Study shows that Corporate SA engaged in malicious compliance and gate-keeping to keep blacks away from the table

Telecoms & Technology

Vodacom to improve coverage as usage grows

Developers of smartphone dating app Paktor log in to their accounts to show their Paktor profiles at their office in Singapore. Homegrown apps hope their understanding of local cultural norms will give them a leg up over global rivals such as US-based Tinder, which has millions more users but which is seen as conduit for finding sexual partners, as well as friends. Picture: REUTERS/EDGAR SU

Vodacom to invest R180m in network infrastructure as smartphone and tablet ownership in townships rockets

Financial Services

Foreign banks find corporate niche in SA

Picture: THINKSTOCK

Citibank heads crowd of foreign banks with local branches vying for business in SA’s corporate sector

Property

Offshore exposure helps property firms meet targets

Picture: THINKSTOCK

Listed property companies beat weak economy and a volatile JSE to surpass forecasts

Telecoms & Technology

Stellar puts part of DigiCore proceeds to use in Torre acquisition

Picture: THINKSTOCK

Shareholders consent to disposal of 19.26% holding in vehicle tracking and fleet management company

Opinion

How ‘failures’ can inspire success

Bottles  being processed at a  brewing company. Picture: ISTOCKPHOTO

Certain customers are studied for clues on what sells, writes Tim Harford

Miles Dally. Picture: LEON GROVE

Rainbow Farms and TSB help lift RCL Foods earnings

Diversified food producer overcomes challenging conditions to benefit from acquisitions and restructuring initiatives

Media & Advertising

Diversification into packaging lifts Caxton

Picture: THINKSTOCK

Publishing and printing group says restructuring of commercial printing divisions, closure of nonperforming stationery business in Ladysmith boosted results

Retail & Consumer

Cashbuild sees space for more stores

Werner de Jager. Picture: FINANCIAL MAIL

Company reports 35% rise in full-year profit, signalling improvement in building materials market

Europe

Steel bosses see mines as chasing phantoms

Voestalpine CE Wolfgang Eder at the company's headquarters in Linz, Austria. Picture: BLOOMBERG/AKOS STILLER

Steel industry scion perplexed by denial among biggest iron-ore mines of new reality

Retail & Consumer

First Krispy Kreme store to open in Rosebank

Picture: THE NEW YORK TIMES/OZIER MUHAMMAD

Global doughnut company, coffee retailer says first store in SA will be opened in Rosebank at the end of November, marks its first venture into Africa

Healthcare

Day hospitals add up for Advanced

Picture: THINKSTOCK

Advanced Health set to cash in on growing trend towards cost-effective medical services

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

Opinion

COMPANY COMMENT: Kaap Agri share price gets ploughed under

Picture: THINKSTOCK

Shares of Kaap Agri have taken a suprising tumle in recent weeks


International companies


Asia-Pacific

White elephants abound in India’s aviation plan

Picture: THINKSTOCK

Failure to co-ordinate leaves new airports unused while hubs burst at the seams, writes Tommy Wilkes

Europe

New Carlsberg CEO warns of lower profit

CHEERS: Danish brewer Carlsberg’s first-quarter operating profit and revenue beat forecasts on Tuesday. Picture: REUTERS

Cees ’t Hart says he will review company’s strategy after a poor second quarter forced world’s fourth-largest brewer to cut its profit outlook for the year

Retail & Consumer

A Grand Parade of gaming and Burger King roll-outs

A Burger King outlet at Park Station in Johannesburg. Picture: THE TIMES

Empowerment group happy to refocus on Sunwest gaming asset to help fund roll-out of Burger King

Judge grants Uber drivers’ bid to be staff

Ruling allows drivers to challenge status as contractors to entitle them to unemployment and workers’ compensation and right to form unions

Europe

Volkswagen board says Winterkorn to remain as CEO

Volkswagen CEO Martin Winterkorn arrives at a company shareholders' meeting in Hamburg, Germany. Picture: BLOOMBERG/MICHELE TANUSSIS

Proposal opens door to appointment of an outsider as strong independent chairman to replace Ferdinand Piech

SAA. Picture: GALLO IMAGES/ALON SKUY

South African Airways still making a loss

National carrier says operating environment in 2014 was difficult because of increased competition, effects of Ebola, xenophobia on tourism, weak currency, legacy impairments, finance costs

Americas

Google redesigns iconic logo for the fifth time

New Google logo. Picture: AFP/GOOGLE

Google unveils redesign of its iconic logo, the fifth such modification since the search engine giant started in 1998

Industrials

Rescuer for embattled Evraz still to be named

Picture: EVERAZ HIGHVELD

Deadline missed to name bidders for embattled steel maker while publication of business rescue plan pushed back two weeks

Retail & Consumer

Australia’s Cotton On to open 40 stores across SA

The Cotton On store in Sandton, Johannesburg.  Picture: COTTON ON GROUP

Three of its highest grossing stores are based in South Africa

Asia-Pacific

Probe into 7-Eleven wage fraud claims

Convenience store giant 7-Eleven is accused of unfair labour practices that exploit its vulnerable workers who are often international students. File picture: REUTERS/TIM WIMBORNE

Media probe shows 620 franchisee stores in Australia doctor payrolls and underpay workers

Property

Hyprop on high after revamps, extensions

Picture: HYPROP INVESTMENTS LIMITED

Results please analysts but there is concern about future domestic opportunities

Retail & Consumer

Mr Price’s shares in bargain bin

Picture: MICHAEL ETTERSHANK

Budget retailer blames downturn on poor fashion offerings and ‘very late onset of winter’

Industrials

Eqstra long-term plan helps slash debt

Picture: THINKSTOCK

Eqstra to continue divesting nonperforming assets and make further inroads into UK’s industrial equipment forklift businesses

Americas

Walmart cuts work hours to save on costs

Souvenir T-shirts are seen for sale at the Walmart Neighborhood Market. Picture: REUTERS

In the midst of spending $1bn to raise employees’ wages and give them extra training, company has been cutting work hours to keep costs in check

Retail & Consumer

Cashbuild benefits from reining in operating costs

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES

Analyst says investing in building materials retailer makes sense because it competes in space it knows better than any of its competitors

Industrials

WBHO hit hard by projects in Australia

Picture: SOWETAN

Loss-making projects in Australia take toll on strong revenue growth at construction firm Wilson Bayly Holmes-Ovcon

Mining

DRDGold rallies after reporting rise in profit

DRDGold CEO Niël Pretorius. Picture: MARTIN RHODES

DRDGold shares find favour with investors, rising more than 10% after retreatment company announces increase in full-year profit, revenue

Property

SA Corporate’s Joburg rental housing foray reaps early rewards

Picture: THINKSTOCK

Big earnings boost shows move into affordable rental housing market in inner-city Johannesburg paying off

Mining

Platinum needs Brics, says Lonmin

Lonmin CEO Ben Magara. Picture: FINANCIAL MAIL

Lonmin CEO Ben Magara says tougher vehicle-emissions standards in Brics nations will pay off

Europe

Rebekah Brooks set to cap remarkable turnaround

Rebekah Brooks. Picture: BLOOMBERG/CHRIS RATCLIFFE

Rebekah Brooks shakes off phone-hacking scandal to return to Rupert Murdoch’s media empire

Asia-Pacific

Macau takes dangerous gamble against Chinese

Picture: REUTERS/BOBBY YIP

Cash ruse continues despite raids, new antimoney-laundering pact and crackdown on underground banking, writes Farah Master

Europe

Suzuki and VW finally clear their throats

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

VW to dispose of Suzuki Motor Corporation stake worth $3.8bn at close of four-year dispute

Americas

Berkshire backs oil with $4.5bn stake in refiner

Berkshire Hathaway chairman Warren Buffett. Picture: BLOOMBERG

Latest wager by Warren Buffett and his team — renowned for unorthodox bets — comes amid a slump in crude prices, driven by concerns a supply glut will persist

Opinion

COMPANY COMMENT: Sekunjalo; market panic

Iqbal Survé.  Picture: FINANCIAL MAIL

Sekunjalo Investment Holdings continues to hike stake in JSE-listed subsidiary African Empowerment Equity Investments, while there was panic again in markets on Tuesday

Opinion

COMPANY COMMENT: MiX; Growthpoint

Norbert Sasse, Growthpoint CEO, addresses the media on the group’s results on Wednesday. He says there is very little the firm can buy in SA at the right price. Picture: MARTIN RHODES

Market might have taken more notice of MiX Telematics’s new strategic signals were it not for the prevailing ructions on bourses

Business

Brian Joffe slams BEE for ‘not working’

Bidvest CEO Brian Joffe. Picture: MARTIN RHODES

Bidvest chief executive Brian Joffe says SA needs more black entrepreneurs and fewer people on government grants

Mining

SA gold faces uncertain future

Picture: THINKSTOCK

Upended by toxic combination of falling prices, intensifying labour disputes and surging cost of exploration, country’s largest producers are flailing

Asia-Pacific

No let-up in Macau casino slump as Chinese stay away

People cross a road near the Lisboa Casino in Macau. Chinese punters are avoiding the city amid a crackdown on graft. Picture: BLOOMBERG/JEROME FAVRE

Casino downturn drags Macau’s GDP to lowest since 2011 as new gambling resorts fail to attract Chinese

Retail & Consumer

Actis acquires minority stake in Coricraft

Natalie Kolbe, a partner at Actis. Picture: RUSSELL ROBERTS

Private equity player acquires minority stake in Coricraft Group, a move that will enable furniture retailer to aggressively expand store footprint

Americas

Chrysler continues strong sales streak

Reid Bigland. Picture: BLOOMBERG/SCOTT EELLS

Car maker’s North American unit beats estimates, driven by sales of Ram trucks and Jeep SUVs

Mining

DRDGold cuts distributions, may keep cash for buyback

Niël Pretorius. Picture: MARTIN RHODES

CEO Niël Pretorius’s comments inspire 20% rise as prospects for long-term share holders improve

Opinion

Starbucks not guaranteed instant success in SA

Starbucks. Picture: BLOOMBERG/CRAIG WARGA

Taste Holdings will have to wrestle with smaller coffee shops to establish Starbucks brand in South Africa, most obviously against Famous Brands

Opinion

COMPANY COMMENT: Metmar; nuclear power

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

Metmar’s deal with Traxy’s in a wobble as labour may be the hidden cost of nuclear power

Financial Services

Deloitte acquires all of investment advisory firm

Deloitte Africa CEO Lwazi Bam. Picture: FINANCIAL MAIL

Deloitte Africa CEO Lwazi Bam says the group will be better equipped to advise inbound and intra-Africa investors with the acquisition of Frontier Advisory

National

Ramaphosa to update MPs on state-owned firms

Deputy President Cyril Ramaphosa addresses the South Africa-China business forum in Beijing, China, on Wednesday.  Picture: GCIS

Deputy President Cyril Ramaphosa to brief Parliament on Eskom, SAA and South African Post Office at sitting of the National Council of Provinces

Industrials

ArcelorMittal SA steel mills to close as industry crisis bites

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

ArcelorMittal SA latest to mull job cuts and review operations

African Business

Africa’s richest man plans cement plant in Zimbabwe

Aliko Dangote. Picture: REUTERS/AKINTUNDE AKINLEYE

Aliko Dangote plans mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory

Industrials

Europe and UK operations boost Bidvest

Brian Joffe. Picture: MARTIN RHODES

Bidvest’s SA business, which provides nearly half of total revenues and profits lags far behind performances of its Europe and UK operations

Financial Services

Blue Financial agrees to funding structure

Blue Financial Services CEO Johan Meiring. Picture: FINANCIAL MAIL

Board approves funding structure for Blue Financial Services that would see a cash boost from unidentified shareholders

Property

Europe beckons as Texton moves beyond office niche

Picture: THINKSTOCK

Offshore property exposure poised for rapid expansion in Texton Property Fund's drive to diversify

Industrials

Bidvest remains focused on expanding in Africa despite slow progress

Bidvest CE Brian Joffe. Picture: FINANCIAL MAIL

Industrial conglomerate says southern African operations performed ‘relatively well’ as many markets in emerging market division faced economic challenges

Retail & Consumer

Pioneer rises to market challenge

Picture: THE TIMES

Company reports stellar growth despite increased competition, maize deflation and exiting of key businesses

Retail & Consumer

Bittersweet choice in Woolworths’ checkout aisles

Woolworths store at the V&A Waterfront in Cape Town.

Retailer has bittersweet treat for its customers — it’s removing all chocolates and other sugary goodies from its checkout queue

Americas

US retailers prod China for lower prices after devaluation

Picture: REUTERS

US retailers are starting to negotiate with Chinese suppliers to take advantage of lower manufacturing costs after China devalues yuan

Industrials

Afrox restructure hits sales, costs decline

Picture: FINANCIAL MAIL

African Oxygen enjoys healthy cash flow while net debt down to R354m from R677m

Retail & Consumer

Retailers rue costs of power outages

Picture: THINKSTOCK

Drop in foot traffic at malls stores without emergency power damper sales

JSE Sens

Standard Bank

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Impala Platinum Impala Platinum finals
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