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Transport & Tourism

SAA gives Kalawe budget package

Vuyisile Kona. Picture: BUSINESS DAY

Former SAA CEO Coleman Andrews received R232m in 2001 and Andre Viljoen walked away with about R7m and Khaya Ngqula was paid R8.9m. Vuyisile Kona, who was CEO for only four months, received about R1.5m

Financial Services

Standard’s BEE partners netted R10bn

Picture: SUNDAY TIMES

Scheme benefited employees and empowerment groups, says bank, as well as the economy, generating R1bn in taxes

Education

Advtech U-turn on Maravest deal

Frank Thompson. Picture: FINANCIAL MAIL

Advtech revises transaction to see the R450m deal settled with a combination of cash and scrip

Financial Services

Standard Bank aims for growth in Africa

Interior of Standard Bank's new Rosebank offices in Johannesburg, which achieved five stars from the Green Building Council of South Africa. Picture: STANDARD BANK

Standard Bank personal and business banking division sees its growth on the continent above R1bn in the next three years

Companies

Tiso Blackstar will seek opportunities in Africa

Blackstar executive chairman Andrew Bonamour.   Picture: FINANCIAL MAIL

Companies will seek to raise revenue from the rest of the continent in order to counter an infrastructure investment slowdown in SA

Picture: SUNDAY TIMES

NEWS ANALYSIS: Changes put wind under SAA’s wings

Who would have thought the turbulence-prone South African Airways’s finances would show healthy signs of recovery

Asia-Pacific

Harmony and Newcrest recruit for mine

Picture: THINKSTOCK

The Papua New Guinea government has an option to take up 30% of the project

Opinion

COMPANY COMMENT: Reit; Amazon

Picture: THINKSTOCK

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


International companies


Asia-Pacific

‘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

Motoring

Musk needed a Tesla saviour and his search led to Google

Tesla Motors co-founder and CEO Elon Musk put his staff on crisis footing in 2013 to deal with problems surrounding the Model S. File picture: BLOOMBERG

Tesla’s first customers were prototypical early adopters who wanted a computer on wheels, writes Ashlee Vance

Asia-Pacific

Iron-ore rally ‘in hands of big miners’

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

Iron ore entered a bull market on Friday, rising more than 20% from its closing low, on BHP Billiton’s plans to slow expansion in Australia and the closure of some smaller mines

Americas

NEWS ANALYSIS: Petrobras overhaul calls for much more than corruption clean-up

A file picture of Petrobras oil platforms at Campos basin in Rio de Janeiro. The state oil company is embroiled in a growing corruption scandal. Picture: REUTERS

A fraction of Petrobras’ $17bn write-down relates to corruption, the rest is incompetence — bad investment decisions, flawed execution, political interference and falling oil prices

VW’s supervisory board chief Ferdinand Piech (right) sparked a media debate at the weekend by declaring in an interview  he is 'distancing himself' from VW’s CE Martin Winterkorn  (left). Picture: AFP PHOTO/JOHANNES EISELE

‘Conniving’ VW chairman Piech driven out by board

Ferdinand Piech’s ‘plot’ to oust Volkswagen CEO Martin Winterkorn triggered his demise, say insiders

Americas

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

Europe

Airbus A380s not flying off the shelves

GROUNDED: A visitor stands in the rain near an Airbus SAS A380 airliner. The doubledecker aircraft has failed to win a single order from any new airline customer for two years. Picture: BLOOMBERG/SIMON DAWSON

Airbus A380 touted as solution to mass air transport is missing targets, writes Andrea Rothman

Anglo American CEO Mark Cutifani. Picture: MARTIN RHODES

Anglo favours listing of platinum mines

Anglo American CE Mark Cutifani says company is in talks regarding potential sale, but preferred option in divesting platinum mines is initial public offering

Asia-Pacific

Apple Watch goes on sale — quietly — in Asia

Yuichiro Masui, the first customer to purchase an Apple Watch at an electronics store in Omotasando, poses with his watch in Tokyo on Friday. Picture: REUTERS

Smartwatch makes debut in some Asian markets, but sales are limited to those who have pre-ordered online, so none of the usual Apple product fanfare

Europe

Deutsche Bank pledges overhaul, shares slide

Deutsche Bank. Picture: MARTIN RHODES

Deutsche Bank will cut €200bn in investment bank assets and exit a tenth of the countries in which it operates

Americas

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

Europe

Volkswagen investors hope Piech exit may usher in change

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

Almost 80% of VW investors expect the carmaker’s stock market value to increase after the chairman’s departure

Transport & Tourism

Suspended SAA CEO resigns

Monwabisi Kalawe.  Picture: RUSSELL ROBERTS

South African Airways says Monwabisi Kalawe has terminated his contract with national carrier, he will also step down as director

Trade & Industry

Fierce strike sees closure of Argent’s Giflo unit

Picture: THINKSTOCK

Ga-Rankuwa-based Giflo has been in a labour dispute with Numsa since mid-January

Opinion & Analysis

Comair goes to war against state-owned airline bail-outs

Picture: SUNDAY TIMES

The use of state financial assistance to drive private airlines out of business is not an acceptable objective, writes Terry Markman

Media & Advertising

Underlying investments boost Blackstar

Blackstar executive chairman Andrew Bonamour.   Picture: FINANCIAL MAIL

Investment group says in 2014 performance of investments, operations exceeded expectations, company was able to arrange two large transactions

Law & Constitution

Webber Wentzel makes ‘bold’ move in mergers with top appointments

Picture: THINKSTOCK

Law firm snaps up three of SA’s top mergers and acquisitions lawyers in ‘series of strategic moves aimed at cementing its position as dominant SA law firm’

Retail & Consumer

Brait still has R24bn to spend, says Wiese

Christo Wiese. Picture: FINANCIAL MAIL

Company that last week agreed to buy Virgin Active has ‘very substantial war chest’ to spend on deals, according to largest shareholder Christo Wiese

Europe

Ferdinand Piech resigns as chairman of Volkswagen

Sophisticated, modern and trendy, Volkswagen head office is a prime example of a green-star rated building. The state-of-the-art structure was erected in 2013 and includes eco-conscious features to integrate VW’s environmental strategy. Picture: SUPPLIED

Piech leaves after losing a showdown he had provoked with CE Martin Winterkorn, ending an era at the iconic German carmaker

Mining

Subsidiaries put Anglo chief to test

Anglo American CEO Mark Cutifani. Picture: RUSSELL ROBERTS

Tough market conditions have forced Kumba Iron Ore and De Beers contend with weak markets

Europe

Deutsche Bank to pay $2.5bn to settle Libor case

Deutsche Bank. Picture: MARTIN RHODES

Deutsche Bank ordered to pay record $2.5bn fine to settle US and UK investigations into its role in rigging Libor

Americas

EBay profit eases PayPal split fears

COMPROMISED: EBay said cyber criminals raided its network three months ago, stealing some 145-million user records, including passwords, from a database. Picture: BLOOMBERG

Elimination of 2,400 jobs — 7% of the company’s workforce — pushes first-quarter profits and forecasts above analysts’ estimates

Americas

Dollar takes shine off Facebook’s results

Picture: REUTERS

Sales rose 42% to $3.54bn, when they could have risen 49% without the currency effects, says CEO Mark Zuckerberg’s social media company

Opinion

COMPANY COMMENT: Advtech; Capitec

Frank Thompson. Picture: FINANCIAL MAIL

Thompson in a tight corner over Maravest, while the spectacular rise in the Capitec share price has been driven largely by foreign buyers

Opinion

COMPANY COMMENT: PPC; Jaguar Land Rover

Picture: THINKSTOCK

Cement boss makes light of heavy load, as Jaguar Land Rover takes on rival over SUV copies

Telecoms & Technology

MTN grows customer numbers but revenue per user falls

Picture: CHARLES GALLO/GALLO IMAGES

MTN Group adds 4-million users to its books in quarter ended March, but average customer spend was lower compared to a year ago

Retail & Consumer

Pioneer takes a slice of Futurelife

Picture: THINKSTOCK

Pioneer says it has bought 50% of the private company Futurelife Health Products, which produces nutrient-dense functional food products

Asia-Pacific

Market darling buckles under weight of own debt

A construction site in central Shanghai of property developer Kaisa Group.   Picture: REUTERS

Defaulting Kaisa has investors in the Chinese property sector worried, write Ye Xie and Laura J Keller

Americas

Comcast deal doubt has small firms on edge

A man walks past the Time Warner Cable headquarters in New York.   Picture: REUTERS

Hints that US regulators could veto Comcast’s proposed takeover of Time Warner Cable worry investment bankers

Mining

Amplats’ first-quarter production rebounds

Picture: THINKSTOCK

Anglo American Platinum says equivalent refined platinum production is up 50% compared with strike-affected March quarter last year

Opinion

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

Opinion

STOCK TALK: Casino rivals unite to increase Cape share

Picture: MICHAEL ETTERSHANK

Ann Crotty looks at Tsogo Sun and Sun International, Zeder and Capespan and Net1-UEPS

Mining

Kumba cuts spending as iron ore prices remain weak

Massive trucks at Sishen iron-ore mine. Picture: BUSINESS DAY

Iron ore producer says number of actions have already been implemented, but further initiatives are being taken to reduce capital expenditure, lower cost of production

Retail & Consumer

Clicks shrugs off tough trading conditions

Picture: SUNDAY TIMES

Retailer says conditions are still challenging as consumers remain cash constrained, value conscious, but retail brands delivered real volume growth

Transport & Tourism

Talks could end SAA’s court battle with CEO

Monwabisi Kalawe.  Picture: RUSSELL ROBERTS

Over the past six years four CEOs and one acting CEO have left state-owned South African Airways

Europe

Volvo ousts chief executive and turns to Scania for new boss

Olof Persson. Picture: REUTERS

Sweden’s Volvo names head of Scania as chief executive, replacing embattled Olof Persson who led sweeping efficiency drive at global truck maker

Europe

EU charges Gazprom with abuse of market position

Margrethe Vestager. Picuter: REUTERS/FRANCOIS LENOIR

European Union risks inflaming tension with Kremlin after formally charging Russian gas giant with taking advantage of dominant market position in Europe

Europe

New rules mean Credit Suisse may need to raise cash

A Credit Suisse cash services sign placed at a cafe outside a Credit Suisse bank branch in Zurich, Switzerland. Picture: BLOOMBERG

Speculation that incoming Credit Suisse CEO could have to raise cash to boost its balance sheet overshadows forecast-beating increase in first-quarter net profit

Asia-Pacific

Car makers bank on China

Visitors admire a new car during the 16th Shanghai International Automobile Industry Exhibition in Shanghai on Monday. Picture: REUTERS

Global car makers adamant that China remains the promised land even though sales growth has hit the brakes

Mining

DRDGold lifts gold production

A worker extracts a gold bar from a mould. Picture: BLOOMBERG

Tailings retreatment operation swings into profit in first nine months of its financial year as production grows, costs shrank

Mining

Anglo American satisfied with first-quarter performance

Mining. Picture: THINKSTOCK

Mining company reports reduced copper, nickel, metallurgical coal output, while iron ore, diamonds, platinum production is higher

Retail & Consumer

Pick n Pay ‘ready for stage two’ of recovery

Picture: THE TIMES

Like other players, load shedding has hit utility costs — Pick n Pay sees a 12.3% increase tied to running generators

Energy

Molefe says Eskom is not in ‘very bad financial position’

Transnet CEO Brian Molefe. Picture: PUXLEY MAKGATHO

New acting CE, Brian Molefe, says Eskom is not in ‘very bad financial position’ and that impact of load-shedding on households is not nearly as severe as is being made out

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British American Tobacco British American Tobacco quarterly update (Q1)
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  • FTSE 100 : 7022.64
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