• Mon Mar 21 18:09:50 SAST 2016
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Land & Agriculture

Commission denies water tanks merger on fear of unilateral price hikes

A farm worker sits on a water tank as he supplies his livestock with water at a farm outside Utrecht, a small town in the northwest of KwaZulu-Natal. Picture: REUTERS/SIPHIWE SIBEKO

The Competition Commission says if the JoJo Tanks and Nel Tanks merger were to go ahead, it would reduce competition in two Western Cape markets

Mining

Gold Fields falls after issuing more shares

Picture: AFP PHOTO/OZAN KOSE

Stock in gold producer loses 10% after company sells 38.9-million new shares at a 6% discount to the 30-day average

Financial Services

Investec Plc expecting largely unchanged profit

Investec. Picture: MARTIN RHODES

Investec, which also has operations in Australia, makes the bulk of its operating profit in SA, where the rand has dropped 19% against the pound since March 2015

Industrials

Metair seeks Russia deal in bid to move parts from Turkey

Picture: REUTERS

South African manufacturer pursues 50% stake in Russian battery producer to work around political stand-off with Turkey

Mining

Litany of woes puts ASA Metals in business rescue

Picture: THINKSTOCK

Setbacks came at a time of an ‘unprecedented’ deterioration in the prices of chromite and ferrochrome over the six months to end-February

Financial Services

Sasfin eyes financial technology firms

Sasfin CEO Roland Sassoon. Picture: FINANCIAL MAIL

Financial services group wants to buy financial technology companies as part of its plan to enhance its banking offering

Asia-Pacific

Mine chiefs not so hot at commodity picks

Sébastien Jacques.  Picture: BLOOMBERG/SIMON DAWSON

Rio Tinto’s decision to appoint Jean-Sébastien Jacques as CEO could be taken as a bad sign for copper

Industrials

ArcelorMittal defends hiking steel prices for second time

Steel coils.  Picture: BLOOMBERG

SA’s largest steel producer says it has not backtracked on its commitment to drop import-parity pricing in exchange for antidumping duties

Industrials

Sappi prices European bonds below US debt

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

Sappi is taking advantage of cheap borrowing costs in Europe to raise more than R6bn in a corporate bond issuance that will be used to pay off its pricier debt in the US

Financial Services

African Bank to allow Sanlam to offer products in its branches

African Bank. Picture: SUNDAY TIMES

Bank plans to launch transactional banking services in addition to loans it already provides, consumers will be able to deposit their salaries in to the bank

Picture: THINKSTOCK

COMPANY COMMENT: Chamber of Mines; ELB

Chamber of Mines decision a tricky one while ELB’s cash cushion will should see it ride out this lean period

Cliffe Dekker Hofmeyr

CDH wins DealMakers’ M&A; deal flow award for seventh consecutive year

Willem Jacobs. Picture: CLIFFE DEKKER HOFMEYR

Cliffe Dekker Hofmeyr has won the award every year since 2009 as it continues to use its strong presence in Africa and SA to facilitate transactions

Featured Partner

Industrials

Kudos for Nampak over update transparency

Chris Logan. Picture: HETTY ZANTMAN

Shareholder activist Chris Logan praises packaging group Nampak for being more transparent over the currency risks it faces in Nigeria and Angola

Industrials

ArcelorMittal blames steel industry woes for decision to raise prices

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Arcelor said a 20% jump in iron ore prices over the last month and a further hike in SA’s electricity costs this year influenced its decision

Transport & Tourism

Gordhan asks for extension on SAA statements

Picture: SUNDAY TIMES

Hectic schedule prevents Finance Minister Pravin Gordhan from attending to plight of financially troubled airline SAA

Mining

Sibanye’s Aquarius buy gets green light

Sibanye CEO Neal Froneman.  Picture: MARTIN RHODES

Sibanye Gold will complete the purchase of Aquarius Platinum within weeks, after the Competition Tribunal approved the transaction and that of the Rustenburg mines

Property

Reits turn to auctioneers for property acquisition

Picture: THINKSTOCK

Some real estate investment trusts have struggled to make property acquisitions directly from sellers in SA in the past six months

Opinion

NEWS ANALYSIS: No sacred cows as Old Mutual splits structure

Julian Roberts and Bruce Hemphill. Picture: FINANCIAL MAIL, BUSINESS DAY

CEO Bruce Hemphill tells of plans to separate four underlying businesses in bid to create value


International companies


Americas

Spotify reaches settlement on royalty payment issue

Picture: THINKSTOCK

Leader in the booming streaming industry has reached a settlement to improve payments to music publishers as the company hopes to avoid potentially costly lawsuits

Europe

JPMorgan to assist Barclays

A man passes the windows of the Canary Wharf offices of JP Morgan in London September 19, 2013. Picture: REUTERS

JPMorgan Chase to work withBarclays on sale of UK lender’s African unit stake and its Egyptian business

Financial Services

Barclays Africa plans to issue less debt in 2016

Barclays. Picture: AFP PHOTO/NIKLAS HALLEN

Banking group says it is too uncertain to go to the market at present, so it will hold back on issuance as its UK parent considers ways to reduce its stake

Andrew Witty. Picture: BLOOMBERG/CHRIS GOODNEY

GlaxoSmithKline CEO to leave next year as investors debate direction

Andrew Witty to retire in 12 months, after leading the British pharmaceutical manufacturer through a series of changes since 2008 that has failed to ignite the share price

Financial Services

African Bank to offer limited service from next month

Picture: MICHAEL ETTERSHANK

'Good bank' will offer its lending, insurance and investment products when it launches next month

Picture: SOWETAN

SA’s bad news may be good news for AB InBev

Embattled rand and flip-flopping government may come to the aid of Anheuser-Busch InBev as President Jacob Zuma tries to restore good relations with business

Asia-Pacific

Troubled Toshiba sells its medical devices division to Canon

Toshiba's Kirabook is easy on the eye but pales in comparison to Apple's MacBook.

Toshiba is expecting a loss of about $6bn for the year to March due to sagging global demand and a profit-padding scandal

Opinion & Analysis

Old Mutual’s decision to split because it is able to, makes sense

Bruce Hemphill. Picture: FINANCIAL MAIL

The group’s £9bn market value can theoretically rise by a fifth if its four businesses are split apart, according to Breakingviews calculations

Financial Services

FirstRand bank to close some FNB units and retrench staff

Picture: SUNDAY TIMES

Almost 600 positions will be lost at FNB, but more than 500 people at the company may be able to apply for other roles

Europe

LafargeHolcim battles to build on merger

Picture: THINKSTOCK

World’s biggest cement company tests investors’ patience amid a sagging stock price, management exodus and weaker earnings

Telecoms & Technology

Nigeria lifts suspension of MTN services

MTN's head office in Johannesburg. Picture: EPA/KIM LUDBROOK

The move is an indication relations between the two sides are thawing, as they negotiate the payment of a record $3.9bn fine

Retail & Consumer

Choppy mining waters stymie Choppies

Choppies CEO Ramachandran Ottapathu. Picture: CALVIN ANDERSON

Botswana-based retailer has missed targets to break even in SA this year due to rapid deterioration in consumer spend in mining areas, where most of its stores are located

Retail & Consumer

HomeChoice’s digital sales up 30%

Shirley Maltz, CEO of HomeChoice Holdings. Picture: HETTY ZANTMAN

Sales via digital channels grew 30% in the year to December and were the group’s fastest-growing platform

Companies

Bell gets some relief from rand

Bell Equipment CEO Gary Bell

Maker of heavy earth-moving machinery says rand weakness provides earnings fillip in 'extremely tough' trading conditions

Telecoms & Technology

Vodacom considers next move as money transfer service M-Pesa falters

A Vodacom shop in Rosebank, Johannesburg. Picture: FINANCIAL MAIL

Vodacom documents show that while 1-million people have registered for M-Pesa in SA, only 76,000 people are actively using the service

African Business

Total to build pipeline from Ugandan oil fields to port off Tanzania

Oil. Picture: REUTERS

Tanzania’s government says Total has funds for the project, and construction will begin ‘as quickly as possible’

African Business

Kenya’s Equity eyes Barclays Africa ‘spoils’

A man withdraws cash from a Barclays bank automatic teller machine outside Barclays Plaza in Nairobi. Picture: REUTERS/NOOR KHAMIS

Equity Bank head says the Kenyan lender is well-positioned to take up acquisition opportunities following Barclays’s Africa revision

Mining

ARM has plans to fortify its BEE deal

Picture: THINKSTOCK

Group wary of charter challenge and has its eye on balance sheet

Financial Services

Old Mutual Emerging Markets could list as early as 2018

Old Mutual. Picture: BLOOMBERG/SIMON DAWSON

Parent Old Mutual says Omem and three other core business units to be separated into independent entities

Mining

Miner ARM to pay dividends despite pressure on earnings

CHALLENGE: ARM chairman Patrice Motsepe in Illovo on Friday at the results presentation, where he said the firm would cut some jobs at its platinum mines. Picture: MARTIN RHODES

African Rainbow Minerals reviews operations after dramatic drop at majority of its units

Education

Advtech revenue and profits grow

Picture: THINKSTOCK

Private education conglomerate benefits from slew of acquisitions and improvements to its schools portfolio

Retail & Consumer

Remgro increases dividend despite debt

GROWTH: Jannie Durand, CEO of Remgro, says the intrinsic net asset value has recovered since the end of December. Picture: HETTY ZANTMAN

Cash from operations significantly lower at R136m but dividends from investments reach R2bn

Mining

Sibanye sees no way around job losses in platinum takeovers

Sibanye CEO Neal Froneman.  Picture: MARTIN RHODES

Deal unlikely to survive if Competition Commission insist on no merger-specific retrenchments, says CEO Froneman

Retail & Consumer

Grand Parade reviews Burger King

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

Empowerment group pursues expansion of its Burger King franchise with a little less relish, as competition intensifies and cost pressures in domestic fast-food segment increase

Retail & Consumer

GPI declares no dividend after disposal of GPI Slots is delayed

Casino. Picture: DAILY DISPATCH

Investment holding company says it is reviewing its dividend policy to take into consideration the expansion of its food-related investments

Business

Vote on executive pay still not binding

DRAFT: Ansie Ramalho and Judge Mervyn King at Tuesday’s launch of the report on the new code on corporate governance (King IV) by the Institute of Directors. Picture: MARTIN RHODES

New draft corporate governance code fails to bring SA in line with international best practice when it comes to voting on executive remuneration

Healthcare

Medical schemes Bonitas and Liberty in discussions to merge

Picture: THINKSTOCK

Bonitas and Liberty say consolidation among medical schemes is an increasing trend, which is indicative of the current healthcare industry

Mining

Sibanye gets nod for takeover of Aquarius and Amplats assets

Mining. Picture: SUPPLIED

Competition Tribunal’s conditions allow 260 job cuts provided the Rustenburg mines consolidated into Sibanye within two years

Telecoms & Technology

Naspers profits from Russian classifieds website purchase

Picture: THINKSTOCK

Hefty bet on Russian economy mired in recession pays off as consumers boost Avito.ru’s sales 55%

Industrials

By appointing De Klerk CE, Arcelor ‘missed chance to transform corporate SA’

Wim de Klerk. Picture: RUSSELL ROBERTS

The Black Management Forum says ‘substandard’ Wim de Klerk was appointed CEO at ArcelorMittal despite there being two black candidates for the job

Transport & Tourism

SAA expects profit in 2017-18 after probable loss of over R500m this year

Picture: SUNDAY TIMES

The main driver of South African Airways’ expected gains is projected aircraft lease costs, forecast to remain relatively stable in both years

Mining

Judge postpones Chamber of Mines case about clauses in Mining Charter

Picture: THINKSTOCK

Judge Pierre Rabie will now consider an application by mining lawyer Hulme Scholes and his firm to consolidate the chamber’s application with that of Scholes

Telecoms & Technology

Cwele and Gordhan to address plan to use Telkom for broadband roll-out

Picture: CHARLES GALLO/GALLO IMAGES

The DA is concerned that the appointment of Telkom is proceeding without any tender being issued, as is required for government procurement

Transport & Tourism

DA urges government to sell SAA

A South African Airways Airbus A320. Picture: SAA

Democratic Alliance says SA must initiate an urgent process of privatisation to dispose of liabilities, starting with South African Airways

Healthcare

Discovery extends its wellness drive

Adrian Gore, CEO of Discovery. Picture: RUSSELL ROBERTS

Healthcare provider Discovery extends Vitality wellness programme to healthy pensioners

Industrials

Sovereign turns to tribunal to block vote

Humans, by and large, are not ready to welcome genetically modified chickens as part of the food chain, but scientists hold strong counterarguments. Picture: ISTOCK

Sovereign Foods board applies to Competition Tribunal to prevent minority shareholder from voting on BBBEE deal

Retail & Consumer

Swiss deal a perfect fit for Spar

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

Spar ventures into Switzerland as country is ‘an exceptional fit’

Companies

MTN offers $1.5bn to settle fine imposed by Nigeria

MTN's head office in Johannesburg. Picture: EPA/KIM LUDBROOK

Africa’s biggest cellphone group has been in talks with Nigerian authorities to have the current $3.9bn penalty reduced

Companies

ARM to ‘critically review’ unprofitable operations

Patrice Motsepe. Picture: TREVOR SAMSON

Diversified mining company says it will cut costs, improve mines and seek to ensure that shareholder funding is minimised

Mining

Court to decide whether redressing racial inequality trumps shareholder rights

Picture: THINKSTOCK

The Chamber of Mines will argue that companies should be credited with disposing their assets to black investors even if stakes were later sold

Property

Consolidation on the cards for listed property

Picture: THINKSTOCK

Investors are hungry for returns and improved liquidity in listed property sector

JSE Sens

Standard Bank

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JSE top 40 FTSE quarterly changes to the JSE top 40
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    Top 40 : 47812.41
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