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Sizwe Nxasana. Picture: MARTIN RHODES

FirstRand CEO Sizwe Nxasana to step down

19 hour(s) ago

FirstRand CEO Sizwe Nxasana will step down from his role on September 30, after nine years at banking group, and will be succeeded by his deputy CEO, Johan Burger

Telecoms & Technology

Dimension Data on track to reach $8bn in revenue in 2015, says CE

Didata CEO Brett Dawson. Picture: FINANCIAL MAIL
14 hour(s) ago

IT firm Dimension Data on track to reach $8bn in revenue this year, maintaining double-digit growth led by push into data centres, firm’s CE says

Mining

Medupi delays benefit Exxaro

Picture: THE TIMES
1 day(s) ago

Eskom pays R1.2bn for unused coal, while delay provides Exxaro time fillip to examine its plans for Grootgeluk

Financial Services

Investors buy into Standard Bank’s turnaround

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
1 day(s) ago

Bank’s results are sullied by fraud in China and a poor trading performance in its global markets business

Mining

Mick Davis’s X2 ready to buy after raising $5.6bn in capital

Mick Davis. Picture: BLOOMBERG
23 hour(s) ago

Momentum building for former Xstrata CEO and his core lieutenants in establishing a mining company in an environment where assets are ripe for the picking

Mining

Exxaro pays heavy price for misstep in Congo project

Picture: THE TIMES
23 hour(s) ago

SA’s second-largest coal producer learns the hard lesson that it has internal governance procedures in place for a reason

Companies

JSE well placed to take on potential new competitor

JSE CEO Nicky Newton-King. Picture: ARNOLD PRONTO
23 hour(s) ago

JSE delivers strong performance in 2014, making it more difficult for competitors to take on the local stock exchange

Healthcare

Global operations help lift Aspen revenue

Aspen Pharmacare CEO Stephen Saad. Picture: FINANCIAL MAIL
23 hour(s) ago

Sales to the public sector remain stagnant, but orders are likely to increase following the new R10bn antiretroviral drug tender

Sanlam CEO Johan van Zyl. Picture: MARTIN RHODES

Sanlam eyes 10-year BEE deal

Insurer looking to sell 30%-50% stake in some of its businesses to black economic empowerment partner Ubuntu-Botho, which is led by Patrice Motsepe

Telecoms & Technology

Poynting resolves to keep eyes peeled for offshore deals

Picture: THINKSTOCK
23 hour(s) ago

CEO Juergen Dresel says the company is looking to more deals in Europe while bedding down the recent ARA acquisition

Transport & Tourism

Transnet requests private concession bids for branch line

Andrew Marsay.  Picture: ROBERT TSHABALALA
23 hour(s) ago

Transnet puts out request for proposals to concession Belmont-Douglas branch line as part of long-delayed programme to lease out branch lines it is not making profit from

Cliffe Dekker Hofmeyr

What makes for a winning law firm in current economic conditions?

Brent Williams. Picture: Jasper Coetzee
16 day(s) ago

Awards, recognition of work of specialist lawyers, successful practice teams indicate Cliffe Dekker Hofmeyr remains on right track, writes Brent Williams

Featured partners

Opinion

COMPANY COMMENT: Steinhoff; Bearing Man Group

Markus Jooste. Picture: FINANCIAL MAIL

Steinhoff sees value of in-house logistics, while the Bearing Man Group partners with JDA Software to develop a digital supply chain system


International companies


Americas

Petrobras mulls over divestments as corruption scandal clogs bond sale efforts

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
23 hour(s) ago

Petrobras wants to sell $13.7bn of assets as a graft scandal keeps the company out of debt markets

Companies

Mukuru.com launches money transfers from SA to Botswana

Picture: THINKSTOCK
1 day(s) ago

UK-based online money transfer company launches money transfers from SA to Botswana in corridor that traditionally has been dominated by SA banks

Americas

Apple to make larger iPad

Apple CEO Tim Cook holds up the new iPad Air during an Apple event in San Francisco last week. Picture: REUTERS
1 day(s) ago

Apple suppliers have been told to start production of larger-screen iPad in second half of year as US tech giant wrestles with new designs for enterprise market

Americas

Tech companies add $69bn to offshore profits

Picture: REUTERS
1 day(s) ago

Stockpiles offshore profits held in low-tax nations, writes Richard Rubin

ACQUISITION:  A screen displays the share price for pharmaceutical maker AbbVie on the floor of the New York Stock Exchange in July last year. Picture: REUTERS

Abbvie opts to buy Pharmacyclics

Abbvie beats out Johnson & Johnson for control of blockbuster blood cancer therapy that will help it expand in lucrative area of oncology

Companies

General Electric CEO Jeff Immelt’s crude problem

General Electric CEO Jeffrey Immelt waves as he leaves after a meeting with France's President Francois Hollande to discuss the future of French engineering group Alstom at the Elysee Palace in Paris, France, in this April 28 2014 file photo.  Picture: REUTERS
2 day(s) ago

GE bet heavily on the energy boom but oil has since gone south, creating a gap for activist investors and forcing Immelt to defend his business decisions since empire-builder Jack Welch

Europe

Areva nuclear group announces €4.8bn loss

The headquarters of France's nuclear group Areva. Picture: AFP
2 day(s) ago

French nuclear group confirms record net losses in 2014 after it is forced to absorb costs linked to project delays

Sifiso Dabengwa. Picture: MARTIN RHODES

MTN to spend R30bn on infrastructure upgrades

MTN will invest close to R30bn this year with the lion’s share set for Nigeria and SA as company targets 17.5-million new users

Financial Services

JSE delivers ‘pleasing’ performance for 2014

Picture: MICHAEL ETTERSHANK
1 day(s) ago

JSE increases headline earnings per share in year ended December 2014 by 14% to 735c and declares ordinary dividend of 400c and special dividend of 80c

Europe

Standard Chartered rules out share sale as profit plunges 25%

Standard Chartered.  Picture: REUTERS/BOBBY YIP
2 day(s) ago

Standard Chartered vows to cut costs and shrink its loan book in an effort to quell concerns about its capital strength

Americas

Fraud takes a bite out of Apple Pay

Picture: REUTERS
2 day(s) ago

Some banks witness growing incidence of fraud on Apple’s mobile-payment service as criminals exploit vulnerabilities

Financial Services

MMI has R1bn for Africa acquisitions

MMI CEO Nicolaas Kruger. Picture: MARTIN RHODES
1 day(s) ago

Group also looking for potential acquisitions in SA, possibly to build its short-term insurance business or to grow in the middle market

Media & Advertising

Battle for set-top box control heats up

Picture: THINKSTOCK
2 day(s) ago

At issue is whether set-top boxes should have a built-in access control mechanism to protect free-to-air providers from piracy

Financial Services

African Bank’s spin-off ‘good bank’ could be set up by June

Tom Winterboer.  Picture: RUSSELL ROBERTS
3 day(s) ago

Curator can make offer to creditors owed R48bn only once Banks Act amendment is passed into law, possibly in April

Americas

Tinder takes swipe at generating revenue

Picture: THINKSTOCK
3 day(s) ago

Tinder launches premium service, its first effort to generate revenue, plans to introduce advertising by end March

Retail & Consumer

More Poco stores for Western Cape

Markus Jooste. Picture: FINANCIAL MAIL
2 day(s) ago

Retailer’s expansion plans prompted by trial Strand outlet, which exceeds expectations

Europe

BAT eyes rest of Brazil’s Souza Cruz

Picture: THINKSTOCK
2 day(s) ago

The bid highlights the paucity of acquisition targets in the $783bn tobacco industry, says analyst

African Business

Bindura Nickel eyes smelter restart

SPARKING GROWTH: An employee works in a ferronickel smelter owned by state miner Aneka Tambang  in the Pomala district in Indonesia's South Sulawesi province. The country accounts for roughly 7%  of the world's total nickel mine output. Picture:REUTERS
2 day(s) ago

Bindura Nickel Corporation will restart smelter by December after raising $20m from five-year bond, says official

Asia-Pacific

Graft crackdown knocks Macau casino revenue

Picture:  AFP PHOTO/ FILES/PHILIPPE LOPEZ
2 day(s) ago

Gaming revenue almost halves as crackdown on corruption in China keeps high-stakes gamblers away

Retail & Consumer

Burger King banks on about 250 outlets

A Burger King outlet at Park Station in Johannesburg. Picture: THE TIMES
4 day(s) ago

Aggressive expansion has been held back by the various approvals required by the respective municipalities

Retail & Consumer

Cashbuild defies tough times

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES
3 day(s) ago

Earnings for six months ended December soar despite ‘difficult trading conditions’

Mining

Higher production boosts Merafe

The bill confirms the practice of allowing investors, including mining houses, to freely repatriate returns, subject to taxation and applicable legislation.  Picture:MARIANNE PRETORIUS
3 day(s) ago

Junior partner in SA chrome venture with Glencore posts improved annual results on the back of higher production

Opinion

Mining compact ignores crucial players

Bafokeng mine. Picture: BLOOMBERG/NAASHON ZALK

Ignoring the concerns of mining community organisations is tantamount to signal jamming

Financial Services

Standard Bank growth fair when excluding global businesses

Standard Bank joint CEO Sim Tshabalala.  Picture: FINANCIAL MAIL
1 day(s) ago

Global markets business shows headline loss of R3.8bn, of which R1.6bn was a result of fraud in China and R1.7bn partly due to volatile international markets

Healthcare

Aspen first-half basic earnings per share up 27% to 539.1c

A new blood thinner is looking much safer than conventional drugs to protect patients from heart attack and stroke. Picture: THINKSTOCK
1 day(s) ago

Group says strong results achieved despite forex losses of R343m caused by the US dollar strengthening relative to the group’s major trading currencies

Property

Growthpoint CEO pleased with sustainable distribution

Norbert Sasse,  CEO of Growthpoint. Picture: JEREMY GLYNN
2 day(s) ago

CEO Norbert Sasse says financial engineering undertaken by other funds unsustainable

Mining

Anglogold Ashanti may sell assets to cut debt

AngloGold Ashanti CEO Srinivasan Venkatakrishnan. Picture: MARTIN RHODES
2 day(s) ago

CEO Srinivasan Venkatakrishnan says world’s third-largest gold producer plans to cut its net debt by $1bn

Mining

Mining sector ‘ripe for deals’

Picture: ARDBEL
1 day(s) ago

Large swathes of the mining sector around the world are in financial difficulty, which could see ’significant quantities’ of distressed mining assets with low valuations

Telecoms & Technology

Naspers aims to grow TV offering in Nigeria

Picture: SHELLEY CHRISTIANS
2 day(s) ago

Naspers broadcasts English Premier League soccer and international dramas in Africa through its MultiChoice unit

Retail & Consumer

Competition Commission approves Steinhoff takeover of Pepkor

Markus Jooste. Picture: FINANCIAL MAIL
2 day(s) ago

Commission says it has recommended that Competition Tribunal approve Steinhoff’s R62.8bn takeover of clothing retailer Pepkor, without conditions

Opinion

THE LAST WORD: A sweet something for Steinhoff in JD deal

Investors should keep a watchful eye on Steinhoff for signs that it may overstep the traditional rules of a parent-child relationship

Opinion

COMPANY COMMENT: Discovery; Shoprite

CEO Adrian Gore addresses the media and analysts regarding Discovery's results in Sandton, Johannesburg, on Tuesday. Picture: MARTIN RHODES

Discovery intent on further growth while Shoprite’s CEO Whitey Basson says exclusivity clauses an agressive retail discounting

Financial Services

STOCKWATCH: Capitec cashes in on African Bank’s misfortunes

Picture: THE TIMES
2 day(s) ago

Despite drifting lower on Wednesday, tightly held Capitec shares have surprised analysts over past six months with sharp upward trend, outperforming all bigger banks over period

Industrials

Torre’s first payout way ahead of expectations

Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
2 day(s) ago

Industrial services company has its detractors as small-cap companies that grow rapidly from acquisitions have often come unstuck

Industrials

Mpact says year ended December a ‘successful’ one despite challenges

Mpact CEO Bruce Strong at the company's listing on the JSE in July 2011.  Picture: MARTIN RHODES
2 day(s) ago

Mpact reports 11.9% rise in annual revenue to R8.6bn, with group ‘confident in strategy, well-established market positions and ability to generate shareholder returns’

Financial Services

MMI profits rise despite challenging conditions

Nicolaas Kruger, MMI Group CEO addresses the media and analysts in Sandton on Wednesday.
Picture: MARTIN RHODES
2 day(s) ago

Group reports 13% rise in interim operating profit to R1.5bn compared with year-earlier period, despite ‘economically challenging, highly competitive conditions’

Industrials

Toyota SA CEO Johan van Zyl appointed head of European operations

Picture: REUTERS
2 day(s) ago

Van Zyl will take on his added responsibilities on April 1, as president and CEO of Toyota Motors Europe, but will remain in charge of South African company and African region

Industrials

Eqstra turnaround restores confidence of investors

Eqstra Holdings Interim Results with CEO Walter Hill in Sandton. Picture: MARTIN RHODES
3 day(s) ago

Shares rise nearly 20% after company reports its after-tax profit had risen 7.8% in its interim results to December

Financial Services

Barclays Africa eyes faster expansion

Maria Ramos. Picture: MARTIN RHODES
3 day(s) ago

It has applied for a commercial banking licence in Nigeria and one for an insurance business in Kenya

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Calendar

Standard Bank Standard Bank finals
Sanlam Sanlam finals
Exxaro Exxaro finals
Poynting Poynting interims
Aspen Aspen interims
JSE JSE finals

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