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Marcel Golding. Picture: TREVOR SAMSON

Golding’s suspension linked to share deal

9 hour(s) ago

Drama behind the scenes at HCI; court documents confirm increasing hostility between chairman Marcel Golding and the board — particularly CEO and co-founder Johnny Copelyn

Mining

Amplats suffers big production losses

Picture: THINKSTOCK
9 hour(s) ago

Protracted labour strike cost world’s largest platinum mining firm R7.3bn worth of output

Industrials

Claassen to lead PPC after Tomes resignation

Richard Tomes. Picture: RUSSELL ROBERTS
9 hour(s) ago

The resignation comes a month after Ketso Gordhan resigned as CEO, and the company’s board subsequently plunged into a tussle with group shareholders seeking a new board

Telecoms & Technology

MTN drops on Nigeria worries

Picture: CHARLES GALLO/GALLO IMAGES
9 hour(s) ago

But company expects an improved performance during the remaining quarter of the year

Retail & Consumer

Mr Price rallies on upbeat earnings forecast

Picture: MICHAEL ETTERSHANK
9 hour(s) ago

Retailer has bucked trend of slower growth in retail sector

Transport & Tourism

Imperial acquires stake in Imres

Picture: THINKSTOCK
8 hour(s) ago

The deal fits company’s ‘strategy of growing business of distributing fast-moving consumer goods and pharmaceuticals in Africa’

Industrials

Veteran departs PPC in latest executive loss

Richard Tomes. Picture: RUSSELL ROBERTS
23 hour(s) ago

PPC says Richard Tomes has resigned as joint MD to pursue other opportunities

Retail & Consumer

Mr Price rallies on upbeat earnings forecast

Picture: MICHAEL ETTERSHANK
9 hour(s) ago

Retailer has bucked trend of slower growth in retail sector

Transport & Tourism

SA would consider strategic partner for SAA, says minister

A South African Airways Airbus A320. Picture: SAA
20 hour(s) ago

SA would consider strategic partner for struggling state-run airline, minister of public enterprises says, as government looks for spending cuts

KNOCK-ON EFFECT: Clicks CEO David Kneale said on Thursday at the group’s results presentation that generally, consumers are feeling uncertain about the future. Picture: TREVOR SAMSON

Strained shoppers affect Clicks

South African retailers are struggling as consumers’ ability to spend has been tempered by indebtedness, inflation and unemployment

Financial Services

High-frequency trading gives players the edge on JSE

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

The JSE makes money from the volume of transactions, so high-frequency traders are good for business

African Business

Stanlib keeps eye on Africa after deal in Ghana

Stanlib CEO Seelan Gobalsamy.
8 hour(s) ago

Company is also pursuing an asset management acquisition in Nigeria, which it hopes to close in the first half of 2015

Property

Time has come for specialised listed property funds, say analysts

Picture: THINKSTOCK
8 hour(s) ago

Following year of aggressive merger and acquisition activity and strong overall returns, analysts believe time is ripe for more specialised funds to join listed property sector

Opinion

COMPANY COMMENT: Old Mutual; PPC

Julian Roberts, group CEO of Old Mutual. Picture: FINANCIAL MAIL

Old Mutual dealing with the break-up pressure, while PPC and its faction of activist shareholders seem to be embroiled in a battle that no one can win

Opinion

Businesses must focus on common good

Picture: THINKSTOCK

Not enough of the ‘benefits’ of business are actually trickling down to society and where it has, it has done so at an immense cost


International companies


Asia-Pacific

Toyota shares rise on record profit report

Picture: REUTERS
3 hour(s) ago

Rise attributed to brisk sales in North America and elsewhere, helped by a weaker yen

Europe

Mail.ru reports third quarter sales below analysts’ estimates

Picture: THINKSTOCK
8 hour(s) ago

Part owned by Naspers and Tencent, company says third quarter sales missed analysts’ estimates after internet advertising slowed amid a weakening economy

Asia-Pacific

UBS targets new clients in Hong Kong’s Kowloon

Kowloon. Picture: BLOOMBERG FILE PHOTO
8 hour(s) ago

Switzerland’s largest bank is searching for clients in Kowloon and the New Territories, says UBS’s wealth unit chief

Europe

Russia bites back with widening crackdown on McDonald’s

Picture: MARTIN RHODES
8 hour(s) ago

Russian authorities show no sign of halting a clampdown on US chain McDonald’s, launched after the West slapped sanctions on Moscow over its meddling in Ukraine

Picture: THINKSTOCK

AT&T misses analysts’ profit estimates

To help offset slower growth and increased competition in wireless, AT&T is pushing into new areas such as home security and mobile internet service for cars

Americas

Berkshire Hathaway stock portfolio takes knock

Berkshire Hathaway chairman Warren Buffett. Picture: BLOOMBERG
8 hour(s) ago

Loss on various holdings, including IBM and Coca-Cola, has hit the conglomerate, writes Luciana Lopez

Europe

Budget airlines put leasing to the test

Picture: BLOOMBERG FILE PHOTO
8 hour(s) ago

Between them, Indonesia’s Lion Air, Malaysia’s AirAsia and Norwegian Air Shuttle have ordered more than 1,400 Airbus and Boeing jets, worth about $140bn

Brait CEO John Gnodde. Picture: FINANCIAL MAIL

Premier Foods seeks more acquisitions in Southern Africa

Premier Foods, whose brands include Blue Ribbon bread, Snowflake wheat and Iwisa maize has been active on the acquisition front

Companies

Adcorp eyes acquisitive growth as gearing level drops

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL
1 day(s) ago

Company reports a 9% rise in normalised earnings to 191.7c per share for its six months ended August

Property

Investment flows to Reit funds taking longer than expected

Picture: THINKSTOCK
1 day(s) ago

SA’s property fund managers believe their companies’ drive to attract international shareholders has been too slow since taking up the same tax dispensation as global funds last year

African Business

BCL’s Norilsk deal the first step in its hunt for nickel

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
1 day(s) ago

Botswana’s state-owned BCL is embarking on a strategy to secure extra sources of metal, and its first step is the $337m purchase of Norilsk Nickel’s African assets

Mining

No party cronies in BEE deal, says Northam

Lazarus Zim.   Picture: REUTERS/MIKE HUTCHINGS
1 day(s) ago

Miner unveils long-awaited deal valued at nearly half its market capitalisation to take its empowerment to 35.4%

Financial Services

MMI plans to set up India joint venture

3 day(s) ago

Group will become first South African insurer to enter the health insurance market in a South Asian country

Mining

Northam Platinum secures new BEE deal

Picture: THINKSTOCK
2 day(s) ago

New black economic empowerment structure will give platinum producer 35.4% black ownership once stake held by Toro Trust is included

Energy

PetroSA takes knock from Project Ikhwezi costs

A chimney flares at PetroSA's Mossgas facility in Mossel Bay. Picture: THE TIMES
2 day(s) ago

State-owned oil firm impairs production and exploration assets by R3.4bn, largely because of delays and rising costs on plan to prolong life of Mossgas gas-to-liquids plant

Industrials

Foord claims enough shares to force vote

Ketso Gordhan. Picture: ARNOLD PRONTO
2 day(s) ago

Second demand for special meeting on new board set for ‘later this week’

Financial Services

Wonga ‘won’t appoint acting CEO’

Kevin Hurwitz, CE of Wonga SA. Picture: SUPPLIED
2 day(s) ago

Online microlender says the management team is ‘strong’ and does not plan to appoint an interim CEO after resignation of Kevin Hurwitz

Mining

Norilsk severs its connection with Africa

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
3 day(s) ago

Norilsk stated its intention to sell its 50% of Nkomati Nickel, which it owned jointly with JSE-listed African Rainbow Minerals, and its 85% stake in Tati Nickel Mining in Botswana towards the end of last year

Retail & Consumer

Rekorderlig targets changing tastes

Cider products. Picture: ROBBIE TSHABALALA/FINANCIAL MAIL
3 day(s) ago

Swedish cider company, which entered the SA market last month, is looking to tap into the same trend which is buoying craft beer producers

Europe

Adidas stock jumps as ‘imminent’ bid for Reebok is noted

INVESTOR CONFIDENCE: An official 2014 World Cup football printed with an Adidas logo, in Sion May 31 2014, Switzerland. Picture: REUTERS
3 day(s) ago

Group of investors plans to bid about €1.7bn for the company’s Reebok unit

Companies

Vodacom ‘makes sense’ for Vodafone

A customer waits outside the shuttered entrance of a Vodafone store ahead of opening in London. Picture: BLOOMBERG
4 day(s) ago

With speculation that government’s stake in Vodacom could be up for sale, analyst says it would make sense for its UK parent to buy them

Retail & Consumer

Cashbuild reports 10% jump in revenue for September quarter

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

The group’s 18 new stores opened since July 1 last year have contributed 6% of the revenue increase

Industrials

Sappi redeems part of R750m bond

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

Paper group faces a number of local and offshore debt obligations over the next five years

Markets

Platinum stock above ground remains a puzzle

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
4 day(s) ago

Analysts predicted a surging market as a record five-month labour stoppage in SA wiped out more than 1-million ounces of output worth $1.28bn

Mining

AngloGold likely to replace Goldman, UBS after $2.1bn share plan failed

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

World’s third-biggest gold producer talking to potential new advisers after having to abandon sale and asset split five days after it was announced in September

Property

Pivotal brings big portfolio and pipeline to JSE

Phase 1 of Pivotal Property Fund's Alice Lane development in Sandton.  Picture: PIVOTAL PROPERTY FUND
7 day(s) ago

Property punters will soon have another chance to invest in the real estate pipeline of a leading developer when Pivotal Property Fund lists R9.2bn portfolio

Opinion

COMPANY COMMENT: Technology sector; Reit conference

server technology Picture: THINKSTOCK

Technology staff a click away from layoff , while property players gear up for first domestic Reit conference

Europe

BAT’s cigarette sales volumes slowly going up in smoke

Picture: REUTERS
1 day(s) ago

The JSE’s biggest stock by market value sees its share fall as much as 4.58% to R585 after the release of the interim results

Mining

Impala directors forgo pay rises for third year

DIFFICULT SITUATION: Impala Platinum CEO Terence Goodlace addresses the media on the group’s outlook. Picture: MARTIN RHODES
1 day(s) ago

Nearly all shareholders at an annual general meeting in Johannesburg vote to leave payments unchanged.

Companies

Adcorp eyes acquisitive growth as gearing level drops

Richard Pike, CEO of Adcorp. Picture: FINANCIAL MAIL
1 day(s) ago

Company reports a 9% rise in normalised earnings to 191.7c per share for its six months ended August

Financial Services

HCI suspends Golding in wake of inquiry

Marcel Golding. Picture: TREVOR SAMSON
1 day(s) ago

Executive chairman and co-founder responds by launching proceedings to lift his suspension and ‘to stay the disciplinary inquiry and to seek other relief’

Mining

Anglo increases forecast for output at Kumba

Mine worker.  Picture: EPA
1 day(s) ago

Anglo American reports strong improvement in quarterly iron ore production, with record quarterly performance from Kolomela mine

Financial Services

STOCKWATCH: HCI rebounds after company reassures investors

Picture: MICHAEL ETTERSHANK
1 day(s) ago

Hosken Consolidated Investments shares narrow losses after announcing that suspension of Marcel Golding is ‘unlikely to materially affect its financial performance’

Opinion

COMPANY COMMENT: PSG; CNH Industrial

Piet Mouton, CEO of PSG. Picture: FINANCIAL MAIL

Enough adventure for PSG for now, while CNH Industrial as begun rolling out buses and extra-heavy trucks from its new Iveco plant in Pretoria

Opinion

COMPANY COMMENT: Super Group; alcohol advertising laws

A sign on a fence at Ford's stamping operations in Dagenham, London. Picture: REUTERS

Super Group strikes deal to buy Allen Ford, while liquor producers and retailers seem to be on the same page regarding pending laws to ban alcohol advertising

National

Post Office top brass take 26% raise amid strike

Picture: SOWETAN
2 day(s) ago

Total salary bill for the four executive directors, together with the 20 senior managers, jumped to R32.5m in the year ended March, annual report shows

Retail & Consumer

Tiger Brands plans to destroy recalled products

Picture: THINKSTOCK
2 day(s) ago

Firm will destroy the 17,000 packs of Tastic Simply Delicious sauces and ready-to-eat rice products it is removing from retailer shelves

National

Outspoken directors of SAA face Brown’s axe

Lynne Brown. Picture: TREVOR SAMSON
2 day(s) ago

Chairman Dudu Myeni, who has a close personal relationship with President Jacob Zuma, is spared

Telecoms & Technology

Dimension Data buys two technology firms

Derek Wilcocks. Picture: RUSSELL ROBERTS
2 day(s) ago

The acquisitions will open the group to new clients in the education, telecommunications and financial services markets

Financial Services

Old Mutual may grow stake in Indian insurance venture

Julian Roberts, group CEO of Old Mutual. Picture: FINANCIAL MAIL
2 day(s) ago

An increase in shareholding would give Old Mutual higher exposure to the high-growth market of India, which boasts 1.2-billion people

Retail & Consumer

Taste targets wealthy consumers in Arthur Kaplan Jewellers deal

Taste Holdings CEO Carlo Gonzaga
2 day(s) ago

Aims at satisfying demand for luxury Swiss watches in subequatorial Africa

National

Sasol does not need to use registered mail to distribute AGM notices, says court

Picture: SOWETAN
4 day(s) ago

Sasol is given permission to distribute notice of AGM to shareholders through means other than mail, because it believes Post Office will not deliver in time

Mining

Wesizwe Platinum set for the ‘perfect storm’

The main shaft at Wesizwe’s Bakubung platinum mine in Rustenburg. Picture: SUNDAY TIMES
4 day(s) ago

A weak platinum price, which could remain so for up to 18 months, had rendered a large number of shafts unprofitable and capital expenditure had been cut to a minimum, says chief operating office

Industrials

PPC raises defences against Foord ‘demand’

Ketso Gordhan. Picture: MARTIN RHODES
3 day(s) ago

Foord says it has been able to gain the support of another shareholder, Visio Capital Management, to support its bid to replace the board

Mining

RBPlat’s new mine suffers difficulties

Royal Bafokeng Platinum CEO Steve Phiri. Picture: SUNDAY TIMES
3 day(s) ago

Target date for steady state production now extended by six months

Europe

Total CEO dies in plane accident

Christophe de Margerie. BLOOMBERG/FABRICE DIMIER
3 day(s) ago

Christophe de Margerie is killed when business jet collides with snow plough during takeoff at Vnukovo International Airport in Moscow

 
All Share 47950.39-0.32% down
Top 40 42753.45-0.39% down
Financial 15 14220.780.14% up
Industrial 25 57566.39-0.30% down
Resource 10 48124.50-0.90% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
FTSE 100 6389.02-0.47% down
Dow Jones 16677.900.00% same
All Share 47954.08-0.31% down
ASX 5399.300.00% same
S&P 500 1950.8200.00% same
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
USD/ZAR 10.9537-0.18% down
GBP/ZAR 17.5797-0.06% down
EUR/ZAR 13.88400.03% up
JPY/ZAR 0.1014-0.03% down
AUD/ZAR 9.65030.44% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
Gold 1233.82500.14% up
Platinum 1257.00000.16% up
Silver 17.36251.08% up
Palladium 784.50000.97% up
Brent Crude Oil 85.810-1.17% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank

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  • All Share : 47950.39
    Change: -0.32%
    Top 40 : 42752.32
    Change: -0.39%
    Financial 15 : 14220.78
    Change: 0.14%
    Industrial 25 : 57566.39
    Change: -0.30%
    Resource 10 : 48124.50
    Change: -0.90%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • FTSE 100 : 6389.02
    Change: -0.47%
    Dow Jones : 16677.90
    Change: 0.00%
    Hang Seng : 23318.46
    Change: -0.06%
    ASX : 5399.30
    Change: 0.00%
    S&P 500 : 1950.820
    Change: 0.00%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • ZAR/USD : 10.9665
    Change: -0.06%
    ZAR/GBP : 17.6005
    Change: 0.06%
    ZAR/EUR : 13.8994
    Change: 0.14%
    ZAR/JPY : 0.1015
    Change: 0.14%
    ZAR/AUD : 9.6635
    Change: 0.58%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • Gold : 1233.5600
    Change: 0.12%
    Platinum : 1256.5000
    Change: 0.12%
    Silver : 17.3050
    Change: 0.75%
    Palladium : 784.5000
    Change: 0.97%
    Brent Crude Oil : 85.750
    Change: -1.24%
    All data is delayed by 15 min
    Data supplied by INET BFA
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