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Srinivasan Venkatakrishnan, CEO AngloGold Ashanti. Picture: TREVOR SAMSON

AngloGold suspends search for partnerships in Ghana and Colombia

Last year, AngloGold Ashanti outlined a plan to cut debt and restructure its asset portfolio, as the gold miner deepened its focus on profit margins rather than output

Retail & Consumer

Sovereign blocks rival in BEE scheme


Poultry group's total cost of revised repurchase offer will be R32.4m — significantly less than R70m Sovereign could have forked out


Lower costs lift Sappi’s North American business

FUTURE: Workers stand beside storage towers at Sappi’s Ngodwana wood mill in Mpumalanga on  Wednesday. Picture: BLOOMBERG

The wood pulp, paper pulp and paper-based solutions group says operating performance in the quarter was strong and substantially above the year-earlier period


Aquarius Platinum posts high output at local mines


Mining companies seek to maximise lower-cost output as commodities downturn deepens


SA company secures licence for fuel cell plant

Platinum. Picture: REUTERS

Government supports fuel cell initiative to stoke demand for platinum with component plant expected to be ready in 2018

Retail & Consumer

Sports group boosts sales 12%

Picture: REUTERS

Sports gear lovers boost sales at Sportsmans Warehouse while Outdoor Warehouse again under pressure


Master Drilling unveils new concept at indaba

Danie Pretorius. Picture: TREVOR SAMSON

CEO Danie Pretorius says Master Drilling’s ground-breaking way to sink shafts combines technologies into single patented machine


Kumba’s R1.8bn additional tax bill makes a bad year worse

The Kumba Iron Ore mine at Sishen in the Northern Cape. Picture: KEVIN SUTHERLAND/SUNDAY TIMES

Kumba Iron Ore’s earnings plunged in the year to December, mainly due to a R6bn impairment at Sishen, but it is ahead of target on cost cuts

Telecoms & Technology

MTN being sued by Etisalat over deal with Nigeria’s Visafone

A man enters a customer’s mobile cellphone sim card details on an MTN Group Ltd. registration machine at a roadside kiosk in Lagos last week.   Picture: BLOOMBERG/GEORGE OSODI

Telecoms firm Etisalat said MTN’s purchase of internet provider Visafone could create a dominant data services market player in Nigeria, harming competition

Financial Services

Alexander Forbes reshuffles top team after CEO suddenly quits

Edward Kieswetter. Picture: MARTIN RHODES

With no successor in place chairman Sello Moloko and chief financial officer Deon Viljoen have taken over as executive chairman and interim CEO respectively


Fortress grows first-half B-unit dividend more than 100%

Mark Stevens.  Picture: RUSSELL ROBERTS

The dividend growth for the interim period attributable to the A share was calculated using data supplied by Statistics SA, and was 4.8%

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL

Labour broking laws questioned

Adcorp CEO Richard Pike attributes loss of 20,000 temporary workers to misunderstanding legislation rather than ‘a testament of the new law’s success’


Nepi a shining star in listed property sector


New Europe Property Investments achieves 62% return last year, ranking it second-best in listed property sector


Bidvest opts for Foodservice listing on JSE

Bidvest CE Brian Joffe. Picture: FINANCIAL MAIL

Analyst sees positive response as local listing of Foodservice business is quicker, less complex and less costly


Hyprop invests in East European malls


South African shopping mall owner buys significant stakes in malls in Serbia and Montenegro for about R2bn


Kumba in rail talks amid cut in expenses

Kumba Iron Ore CEO Norman Mbazima at media round table on the group's results in Illovo, Johannesburg, on Tuesday. Picture: MARTIN RHODES

Producer aims to be debt-free by year-end but it faces headwinds including unexpected tax demand for R1.8bn payment


COMPANY COMMENT: Illovo; Finbond

Sugar cane. Picture: BLOOMBERG

Market bets on Illovo buyout offer growing while Finbond’s expansion into North America highlights Capitec’s strength


Alexander Forbes shuffle leaves questions hanging

Phakamisa Ndzamela examines changes in Alexander Forbes’ leadership and what drove CEO Edward Kieswetter to resign so suddenly

International companies


Mercedes in the lead in luxury-car sales race, as BMW falls to third position

Picture: REUTERS

Audi had the slowest growth of the world’s three biggest upscale car brands with sales increasing 4%, but still outsold BMW


Heineken increases dividend by more than expected


Brewer says margin expansion in 2016 is expected to be in line with its medium-term target, although it warned that emerging markets may be volatile

DEBT BREWING: AB InBev agreed to buy SABMiller in October for about $110bn. Picture: REUTERS

Smaller two of the big four brewers scramble to up their game

Heineken has a 16.5% reported operating margin and Carlsberg 12.9%, compared with Anheuser-Busch InBev’s 31.9% and SABMiller’s 20.3%
Prasa chairman Popo Molefe and acting CEO Nkosinathi Khena face a tough job putting the rail parastatal back on track. Picture: PUXLEY MAKGATHO

Montana denies benefiting from Prasa contracts

Prasa chairman Popo Molefe’s affidavit paints a picture of flouting of procurement procedures to benefit Siyangena Technologies and raises questions around former CEO's upmarket home


ESPN’s decline eclipses The Force Awakens

Wall Street. Picture: REUTERS

Sports network posts a fall in quarterly profit, overshadowing the success of Star Wars: The Force Awakens, which lifted the company to record income


Facebook’s India stumble could embolden other regulators

Facebook is using new features to lure advertisers in India, where revenue per user lags far behind the US. Picture: REUTERS/RICK WILKING

India rules against differential data pricing but Facebook could challenge ruling in courts, say analysts


When women comprise a third of executives, firms are more profitable

While women account for more than 60% of tertiary degrees in SA, the gender wage gap as well as social pressures deter them from pursuing MBAs and other postgraduate studies. Picture: BLOOMBERG

The massive study showed that larger companies appear to appoint more women on boards and in upper executive ranks

Land & Agriculture

Illovo parent indicates interest in buying rest of company

Sugar cane. Picture: BLOOMBERG

Associated British Foods currently owns a 51.35% stake in locally listed Illovo, but Illovo says there is no certainty that discussions will result in a transaction

Financial Services

Old Mutual sells its stake in Rogge in a major disposal

Bruce Hemphill. Picture: FINANCIAL MAIL

Deal is Old Mutual CEO Bruce Hemphill’s second major disposal since firm sold off parts of its Bermudan unit in December


Amplats restructure reverses cash woes

Chris Griffith. Picture: MARTIN RHODES

Extensive restructuring in response to 27% drop in platinum prices despite annual supply deficit, says CEO Chris Griffith


VW sets sights on US to keep on trucking

CO-OPERATION: Volkswagen is looking to take advantage of synergies between its MAN, Scania and 
own-name truck brands. Picture: BLOOMBERG/JOCHEN ECKEL

Volkswagen’s heavy-truck division seeks to reap benefits of more independence within its rapidly reorganising parent company


Small investors and quick bucks

Chinese markets. Picture: AFP/FRED DUFOUR

A new breed of small investor is riding China’s roller-coaster stock markets, looking for a quick buck and thriving on the volatility that has sent others scurrying to the exit


Mining industry has itself to blame for glut, says Cutifani

Anglo CEO Mark Cutifani.  Picture: REUTERS/MARK WESSLES

Anglo American CEO Mark Cutifani does not expect a reversal of the commodities price slump any time soon and says 2016 looks set to be the ‘most challenging yet’

Land & Agriculture

Sweet(ish) offer a fillip for Illovo shares


Shares rise after UK principal Associated British Foods proposes to buy out minority shareholders

African Business

Clock is ticking for AngloGold to fix Ghanaian mine

AngloGold Ashanti CEO Srinivasan Venkatakrishnan. Picture: MARTIN RHODES

Anglogold Ashanti CEO Srinivasan Venkatakrishnan wants solution to ageing Obuasi mine in Ghana by year-end

Financial Services

Finbond’s US expansion faces ‘execution risk’


Major shareholders will support microlender Finbond’s proposed rights issue to fund ambitious expansion into North America


Longest Murray & Roberts winning streak in two years hits sixth day

Murray & Roberts CEO Henry Laas. Picture: FINANCIAL MAIL

SA’s second-largest construction company rose as much as 11% before paring gains to trade 5.9% higher at R9.72 by lunchtime on Monday

Retail & Consumer

Call centre intends to keep Lewis compliant


New call centre at Lewis Group’s head office in Cape Town will employ 50 consultants aimed at limiting misunderstandings of costs, services and fees to be paid by customers


CBS head makes bold move to take on Netflix

The Netflix app. Picture: BLOOMBERG

More original content and subscription-based series part of new chairman’s strategy, writes Jessica Toonke


Adblock Plus, scourge of websites, seeks industry deal


German firm behind Adblock Plus is reaching out to its adversaries to find an ‘acceptable’ level and form of advertising on the net

Financial Services

Kieswetter steps down as Alexander Forbes CEO

Edward Kieswetter. Picture: MARTIN RHODES

Edward Kieswetter will retire at the end of March 2017, and in the meantime chief financial officer Deon Viljoen will assume the role of interim group CEO


COMPANY COMMENT: Resilient Reit; ArcelorMittal

Steel production. Picture: BLOOMBERG

Bad news for SA’s metals industry is starting to flood in as industry steels itself to stave off rot, while some property companies are set to burn their fingers offshore

Transport & Tourism

Sanral bond issue success suggests it is business as usual


Agency still faces uphill battle to bring in revenue from toll fees, following a wide-scale revolt by road users


South32 targets $1.7bn writedown

Picture: ARDBEL

Producer says 60%-owned Samancor Manganese joint venture will resume production but at ‘significantly reduced volumes’

Retail & Consumer

Spar increases 18-week sales to end-January by 14.1%

Shoppers at a Spar outlet in Rustenburg, North West. Picture: MARTIN RHODES

The increase brought total sales to R24.5bn for the period, and group sales in SA rose 8.4% with ‘internally measured’ inflation amounting to 3.9%


SpaceX to attempt its second rocket launch of the year later this month

A remodeled version of the SpaceX Falcon 9 rocket rests on its pad. Picture: REUTERS/STEVE NESIUS

Elon Musk’s SpaceX has said it hopes to fire more than a dozen Falcon 9 rocket this year, and is looking to refly its rockets

Telecoms & Technology

Adapt IT targets Africa expansion

Adapt IT CEO Sbu Shabalala. Picture: SUNDAY TIMES

Strong results helped by existing businesses and acquisitions that have widened its geographic footprint

Retail & Consumer

Edcon to cut some of its 3,000 head-office jobs

LONG ROAD:  At a results presentation on Wednesday, recently appointed Edcon CE Bernie Brookes outlines changes the heavily geared apparel retailer is making to bring customers back and streamline operations. Picture: MARTIN RHODES

This is the second round of job cuts at Edcon’s head office, following last February’s retrenchments, and the process is expected to be completed by March


STOCKWATCH: South32 surges after restructuring announcement

Mining. Picture: SUPPLIED

Miner says its South African manganese division will undergo major restructuring, including laying off 620 employees


Barclays urged to ditch Africa unit and focus on core UK business


Analyst warns investment unit is the ’elephant in the room that needs major surgery' while African business lacks synergies with rest of the bank


Harmony in a spot over Hidden Valley

Peter Steenkamp. Picture: RUSSELL ROBERTS

New CEO Peter Steenkamp faces tough call as producer runs into conundrum at its Hidden Valley mine in Papua New Guinea

Financial Services

Finbond acquires four payday lenders in the US and Canada


The acquisitions will give Finbond, SA’s largest short-term microlender, a branch network of 85 branches in the US and six in Canada


Eskom updates system ahead of hearings

Brian Molefe. Picture: TREVOR SAMSON

CE Brian Molefe says utility has clocked up almost six months without load shedding and trend set to continue

Transport & Tourism

Prasa asks court to declare contracts invalid


Passenger Rail Agency of SA says in affidavit that Siyangena Technologies was given an advantage through ‘bid-rigging’ and process involved ‘corrupt activities’

Financial Services

Expanding EasyPay base benefits Net1


Payment group expands offerings and aims at a million-strong customer base in the next few months


Eqstra’s first-half HEPS expected to decline by one-fifth


Eqstra is currently closing or selling other noncore operations, including its heavy equipment business in the industrial equipment division


Resilient shows strong results as dividend up 25%

Property fund. Picture: THINKSTOCK

Strong results reflect effect of capital raisings, particularly a rights issue last June that reduced funding costs

Financial Services

BayHill to focus on clients’ share portfolios


Cannon Asset Managers will focus on unit trusts and attracting funds from institutional investors, such as pension funds


Quality sacrificed for pricing in infrastructure projects

Lynne Pretorius. Picture: SUPPLIED

Private sector needs to raise investment in public infrastructure to alleviate strain as state’s coffers run dry


Harmony’s restructuring pays off

UPBEAT: New Harmony Gold CEO Peter Steenkamp at the group’s results presentation in Sandton on Thursday. Mr Steenkamp views Harmony’s investment case as still very strong. Picture: MARTIN RHODES

Gold miner says higher production has strengthened cash flow while margins are growing


Upbeat Toyota raises both profit and sales forecasts

The new facade of the LandCruiser 200 echoes that of former generations. Picture: QUICKPIC

The world’s best-selling vehicle maker said it expected to post a record net profit of ¥2.27-trillion ($19.43bn) in the year to March


Shell pins hopes on BG as profit slides

NEW ERA:  An employee sweeps at a Shell station in Brentwood, UK, this week. Shell is buying BG Group in the sector’s largest deal in a decade. Picture: BLOOMBERG/CHRIS RATCLIFFE

Oil major bets $50bn acquisition of BG Group will help it maintain dividends and increase crude and gas output as cash flow shrinks


Gupta firm mute on how to fire up colliery

Mineral Resources Minister Mosebenzi Zwane speaks during a visit to Harmony Gold's Doornkop Mine on Tuesday.  Picture: GCIS

Mineral Resources minister raises eyebrows with visit to Optimum’s owner Glencore in Switzerland as part of Tegeta delegation

JSE Sens

Standard Bank

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Assore Assore interims
Sappi Sappi quarterly update (Q1)
  • All Share : 48273.24
    Change: -0.15%
    Top 40 : 43007.47
    Change: 0.07%
    Financial 15 : 14258.18
    Change: 1.19%
    Industrial 25 : 67781.49
    Change: 0.50%
    Resource 10 : 24706.06
    Change: -3.81%
    All data is delayed by 15 min
    Data supplied by Profile Data
  • FTSE 100 : 5672.3
    Change: 0.71%
    Dow Jones Industrial : 15914.74
    Change: -0.62%
    All Share : 48273.24
    Change: -0.15%
    ASX All Ordinaries : 4826.5
    Change: 0.00%
    S&P 500 index : 1851.86
    Change: -0.02%
    All data is delayed by 15 min
    Data supplied by Profile Data
  • ZAR/USD : 15.8802
    Change: -1.16%
    ZAR/GBP : 23.0351
    Change: -0.75%
    ZAR/EUR : 17.9263
    Change: -1.16%
    ZAR/JPY : 0.1396
    Change: 0.43%
    ZAR/AUD : 11.2867
    Change: -0.56%
    All data is delayed by 15 min
    Data supplied by Profile Data
  • N/A : 1197
    Change: 0.70%
    Platinum US$/oz : 932
    Change: -0.11%
    Silver US$/oz : 15.28
    Change: 0.20%
    Palladium US$/oz : 520
    Change: 1.17%
    Brent Crude : 30.91
    Change: 0.42%
    All data is delayed by 15 min
    Data supplied by Profile Data