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Brian Molefe.  Picture: PUXLEY MAKGATHO

Molefe given SA's worst job

Brian Molefe has stepped into the country's hottest seat after Lynne Brown named him acting CEO of Eskom. His first priority: get runaway load-shedding under control

Business Times

Private-equity poster child Brait beefs up at the gym

Customers take a break at Virgin Active's Soweto gym. Picture: THE TIMES

A Sizeable war chest from the sale of Pepkor enabled investment company Brait to clinch a last-minute deal to buy 80% of the Virgin Active health club chain for R12.2-billion

Business Times Feed

Sanlam's Van Zyl mum on big idea

Johan van Zyl. Picture: MARTIN RHODES

It looks as if Johan van Zyl, outgoing CEO of Sanlam who is credited with turning around what was a lumbering Afrikaans insurance giant back in 2003, may team up with his family in a new business venture

Business Times

Xenophobia hits MTN, Sasol square on

Lagos, Nigeria. Picture: EPA/AHMED JALLANZO

Officials of Nigerian government hands memorandum to SA, demanding that South Africa take swift action against the attackers — or else South African business in Nigeria would be shut down, say reports

Business Times

Please Call Me inventor says Vodacom not off the hook

Nkosana Makate. Picture: SOWETAN

Nkosana Makate, inventor of 'Please Call Me' SMS service, just won't give up. Former Vodacom employee files papers in the Constitutional Court in yet another bid to force the cellular giant to pay for 'stealing' his idea

Business Times

Telkom maintenance at risk in fleet dispute

Picture: CHARLES GALLO/GALLO IMAGES

Telkom is at the mercy of the North Gauteng High Court, which will decide whether the state-controlled company must hand back 6 000 vans it has been leasing from Daimler Fleet Management

Picture: THINKSTOCK

Investors say they may blacklist hacked firms

Less than half of company boards are thought to have skills needed to manage the rising threat of cyber attacks, says a survey. Four of five respondents suggest they may blacklist those that have been hacked

Business Times

More disclosure needed from JSE-listed firms

We all know about the repurchasing activity of big dual-listed entities because they are required by the London Stock Exchange to disclose their repurchases on a daily basis

Business Times

Sun Air's sudden departure haunts embattled SAA

SAA. Picture: GALLO IMAGES/ALON SKUY

SAA faces R1-billion damages claim from Johannesburg businessman Robert Watson for allegedly orchestrating the failure of rival airline Sun Air in 1999 and misleading shareholders


International companies


Americas

Bernanke to advise billionaire Ken Griffin’s hedge fund

Ben Bernanke.  Picture: BLOOMBERG/ANDREW HARRER

Former Federal Reserve chairman to become a senior adviser to the Citadel Investment Group

Europe

Ericsson may ring in expansion by acquisition

An Ericsson employee holds a display model of a M7450 modem, developed for smartphones, at the company's laboratory in Lund, Sweden. Picture: BLOOMBERG / LINUS HOOK

Leading mobile telecoms equipment maker Ericsson may buy optical networking operator Ciena or fellow US group Juniper

Emirates CEO Tim Clark says the airline is offering to double its planned purchase of 140 A380s if Airbus carries out a revamp. File Picture: BLOOMBERG

Future of the iconic jumbo jet is up in the air

Aircraft sales slump casts doubt on how long production can be sustained, write Alwyn Scott and Tim Hepher
Foreign nationals pack their belongings to leave a Primrose, settlement in Germiston on Thursday amid threats of xenophobic violence. Picture: PUXLEY MAKGATHO

Sasol suspends Mozambican project over xenophobia in SA

Fear of reciprocal violence sees Sasol contract project halted and the cancellation of a music event in Zimbabwe

Retail & Consumer

Brait still flush after Virgin Active coup

Customers take a break at Virgin Active's Soweto gym. Picture: THE TIMES

Investment company Brait seals takeover of 80% of Virgin Active for about R12bn, as CVC Capital Partners looks to exit

Property

Rebosis records 8.2% distribution growth

Sisa Ngebulana. Picture: FINANCIAL MAIL

Flagship East London centre, Hemingways Mall, enjoys 10.5% turnover growth, leading the the fund’s retail assets

Retail & Consumer

Cashbuild shares climb after positive quarterly update

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES

Despite challenging trading conditions, revenue in the third quarter rose 18% as measures around pricing, product selection and cost control paid off

Retail & Consumer

Emerging markets help SABMiller beat estimates

Picture: SUNDAY TIMES

Total lager volumes increase 2% in fourth quarter on strong performance in SA and rebound in Chinese volume growth

Transport & Tourism

SAA has made ‘significant achievements’ in last three months, says Nene

Nhlanhla Nene. Picture: TREVOR SAMSON

State ‘encouraged’ by achievements, but recognises ‘diligent execution of sound strategic plan will be required over several years to ensure airline can operate profitably’

Financial Services

BlackRock seeking investors for markets abroad

Picture: THINKSTOCK

Investment house BlackRock says it is not looking to aggressively invest in listed property in SA

Europe

Nokia agrees €15.6bn deal to buy Alcatel-Lucent

Picture: REUTERS

Finnish group acquiring smaller French rival to build up telecom equipment business to compete with market leader Ericsson

Europe

Nestlé looks to sell frozen-food division to Brakes Group

The Nestlé logo on the company’s building in Mexico City. Picture: REUTERS

World’s largest packaged foods maker is grappling with slowing growth in economies such as China and Brazil

Americas

Interest grows in General Electric asset sale plan

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

Corporate giant is divesting the bulk of GE Capital, representing a $200bn chunk of lending, leasing and related financial operations once untouchable

Americas

Blackstone bets boldly on property

Jonathan Gray  Picture: BLOOMBERG/VICTOR J. BLUE

Private equity company was eager to snap up General Electric’s global real estate assets

Asia-Pacific

Alibaba hits back at fake goods allegations

Alibaba.com's head office in Hangzhou, Zhejiang Province, China. Picture: BLOOMBERG

Alibaba Group defends itself against accusations by US clothing trade group that it tolerates fake goods on its Taobao e-commerce platform

Europe

HSBC starts search for new nonexecutive directors, says source

The HSBC logo hangs outside a bank branch in London. Research appears to indicate that the bank will recover eventually after the money-laundering scandal at a subsidiary in Switzerland. Picture: BLOOMBERG/SIMON DAWSON

HSBC has appointed headhunters as Europe’s biggest bank seeks to freshen up its board, source says

Europe

Fallout puts search for new VW leader into overdrive

Volkswagen CE Martin Winterkorn gestures during an interview in Berlin, Germany, ahead of the company's results on Thursday. Picture: EPA/KAY NIETFELD

Smooth transfer would have given new additions such as former BMW executive Herbert Diess and new trucks chief Andreas Renschler time to prove themselves

Property

Index trackers not property’s white knights

Estienne de Klerk, executive director at Growthpoint. Picture: FINANCIAL MAIL

Listed sector still not attracting large-scale foreign investment, writes Alistair Anderson

Opinion

COMPANY COMMENT: Standard Bank; Sappi

Picture: SUNDAY TIMES

Standard’s share is best among ‘big four’, while Sappi is being coy about the cost of its 25MW Ngodwana energy biomass project

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

Transport & Tourism

SAA’s latest plan: privatise some bits

Picture: SUNDAY TIMES

Airline carrier SAA will by the end of this month submit recommendations to the Treasury on the parts it could sell

Industrials

Astrapak unpacks operations in quest for profit

Picture: THINKSTOCK

CEO says packaging conglomerate Astrapak is achieving respectable levels of volume and pricing in its core markets

Trade & Industry

Treasury misses deadline on SAA board

Nhlanhla Nene. Picture: TREVOR SAMSON

SAA to provide update on its 90-day action plan on Thursday, it is unclear if a new board will be announced

Asia-Pacific

Toyota plans factories in China and Mexico

Jim Lentz. Picuture: BLOOMBERG SCOTT EELLS

Car maker faces a production capacity crunch after president Akio Toyoda banned any new plants for at least three years

Telecoms & Technology

MTN follows rivals’ lead and hikes prices

MTN. Picture: BLOOMBERG/NADINE HUTTON

Cellphone network operator says reduction in mobile termination rates, increased costs of network investment have ‘necessitated review of pricing’

Opinion

THE LAST WORD: Eskom fluffs its lines as bosses lose the plot

With a power grid that lost 45% of its available capacity on Tuesday, an executive suite with tumbleweeds blowing through it and rolling blackouts every few hours, Eskom seems to have stopped bothering trying to communicate, writes Rob Rose

Opinion

VRROOM WITH A VIEW: BMW takes electric car step further by fixing range jitters

BMW’s new electric cars have the potential to be true disrupters

Retail & Consumer

Windhoek approves Clover listing

Clover CE Johann Vorster. Picture: ARNOLD PRONTO

Namibia is a key driver of Clover’s strategy to establish distribution centres across neighbouring countries, says CE Johann Vorster

Financial Services

Old Mutual surprises with external appointment for new CEO

Bruce Hemphill. Picture: FINANCIAL MAIL

Appointment of Bruce Hemphill brings top management roles of CEO, finance director back into South African hands

Industrials

Evraz Highveld’s woes could benefit its rivals

Many questions remain about the long, slow demise of Russian-backed group Evraz Highveld Steel & Vanadium, writes Mark Allix

Financial Services

PSG hikes dividend 50% with final payout of 145c

Piet Mouton, CEO of PSG. Picture: FINANCIAL MAIL

Near doubling of PSG’s share price over the past year has meant the payout represents a yield of only 1.1%

Industrials

KayDav cut in dividend prompts talk over strategy

Picture: THINKSTOCK

Decision to cut back the dividend has raised questions in the investment community around the change of strategic tack by the company

Telecoms & Technology

New clients lift Business Connexion

Picture: THINKSTOCK

Information technology consulting and software group says organic revenue growth from new client wins supported growth

Business

Business registration looks set to take half the time

Picture: THINKSTOCK

Biometric verification set to revolutionise key problem area of time-consuming company registrations

Transport & Tourism

Tsogo to build 500-room hotel complex in Cape Town

Casino. Picture: DAILY DISPATCH

The R680m investment brings to 2,000 the number of Tsogo Sun rooms in the city centre

Financial Services

Liberty starts to broaden Nigeria plans

Picture: THINKSTOCK

Safika is to remain invested as a substantial shareholder in Standard Bank and Liberty

Europe

BNY Mellon fined £126m by UK regulator

Picture: REUTERS/SEBASTIEN PIRLET

Financial Conduct Authority says breaches of clients’ asset confidentiality took place at a time when there was considerable stress in the market

Asia-Pacific

Tencent dives 5.5% after Ma cuts stake

Ma Huateng.  Picture: BLOOMBERG/JEROME FAVRE

Market value of Asia’s most popular message service plunges $11bn after billionaire chairman Ma Huateng cuts his stake

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