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Companies

Curro takes Advtech offer off the table

Picture: THINKSTOCK

Retreat douses widespread expectations that PSG-backed Curro might resort to making a general buyout offer

Property

Atterbury launches Atterbury Europe with €220m investment in Cyprus

The Mall of Cyprus.  Picture: SUPPLIED

Atterbury Europe will focus on shopping centre investments and retail development in Europe, with a bias towards eastern Europe

Financial Services

Barclays consolidates African operations

Maria Ramos. Picture: MARTIN RHODES

Barclays Africa CEO Maria Ramos integrates operations in 13 African countries as group plans to add interests in Zimbabwe, Nigeria and Egypt to its portfolio of assets, writes Phakamisa Ndzamela

Americas

Facebook, Google tighten grip on mobile ads

Picture: THINKSTOCK

Facebook offers fresh evidence of its allure to deep-pocketed big brands, as it, Google increasingly take lion’s share of fast-growing mobile advertising market

Companies

Curro takes Advtech offer off the table

Picture: THINKSTOCK

Retreat douses widespread expectations that PSG-backed Curro might resort to making a general buyout offer

Europe

Barclays chairman to accelerate restructuring as profit rises

John Mcfarlane. Picture: BLOOMBERG/DAN LEWIS

Barclays chairman John McFarlane promises faster delivery as pretax earnings meet estimates

Financial Services

Trim fat, analysts tell Barclays Africa even as earnings surge

Barclays Group Africa CEO Maria Ramos addresses the media on the banking group's results in Sandton, Johannesburg.  Picture: MARTIN RHODES

Credit impairments fall 1% to R3.6bn aided by an improvement in home loan and credit card bad debts

Financial Services

Cadiz loses fixed income team to new RMI unit

Picture: THINKSTOCK

Staff migration raises questions about whether they will take billions of rand in client funds with them

Property

Capital Property reports distribution growth of 9%

Picture: THINKSTOCK

Capital Property Fund, which is likely to soon become a Fortress Income Fund subsidiary, has reported distribution growth of 9%

Opinion

COMPANY COMMENT: Anglo American; Sacoven

Anglo American CEO Mark Cutifani. Picture: REUTERS

Anglo asset sale plan mirrors BHP strategy while Sacoven needs deals to counter a R8.8m fee outflow in the offing

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS

Lonmin: victim of price falls and management wobbles

Platinum producer faces deepest crisis to date, hurt by downturn in metal, haunted by mixture of bad luck, management choices that are putting its survival at risk

Mining

Gold Fields bond yields up as South Deep burns more cash

Picture: BLOOMBERG/KIYOSHI OTA

Bond market takes note of Gold Fields’ ‘perfect storm’: low gold price, South Deep’s cash burn and production delays

Odgers Berndtson

Do MBA’s bridge the gap between theory and practice?

Nicola Kleyn. Picture: GIBS

Bridging gap between theory and practice fundamental to process of realising full value of MBA in workplace and as professional degrees

Featured Partner

Nedbank

Make taking your business to the next level happen, with Nedbank

Nedbank Business Banking believes in demonstrating importance of successful partnerships, role they play in championing the growth of clients’ businesses

Featured Partner

Retail & Consumer

Reynolds may give BAT second wind

Picture: THINKSTOCK

Camel brand owner Reynolds American paid $25bn for third-largest US cigarette maker Lorillard last month

Companies

‘Boere Buffett’ faces classroom revolt in Advtech bid

Jannie Mouton.  Picture: HETTY ZANTMAN

Takeover battle to create $1.5bn private education giant in SA pitting shareholders against parents and exposing tensions over race, language and ethnicity

Industrials

AECI’s strategy to diversify pays off

AECI CEO Mark Dytor. Picture: MARTIN RHODES

CEO Mark Dytor warns of investment confidence decline — manufacturing output in SA is ‘nowhere near where it was in 2008’


International companies


Mining

Aquarius to review all its mines as price of platinum plunges

Aquarius Platinum CEO Jean Nel. Picture: PHILIP SCHEDLER

Mine management to undertake safety and productivity inspections and assess viability of each shaft, says CEO Jean Nel

Americas

Facebook profit dips, revenue surges on mobile ads

Mark Zuckerberg, Facebook’s co-founder and CE. Picture: REUTERS

World’s biggest social network sees higher expenses cut into its bottom line as it invests in new technologies

Asia-Pacific

Fortescue chief doubts commodity forecasts

Cranes unload iron ore from a ship at a port in Rizhao, Shandong province, China.  Picture: REUTERS

Fortescue Metals chairman Andrew Forrest blunt in his analysis: commodity forecasts are unreliable

Mock-ups of the Samsung Galaxy Note 4 smartphone are displayed at the company's flagship store in Seoul, South Korea. Picture: BLOOMBERG

Samsung’s second-quarter profit falls 8%

Electronics giant posts 8% fall in net profit, promises ‘flexible’ pricing of new flagship smartphone after less than stellar sales contribute to slump in mobile unit earnings

Asia-Pacific

Alibaba to invest in its cloud computing arm

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

Aliyun unit will use funds in part to set up cloud computing centres in Singapore, Japan, Middle East, Europe

Nosizwe Nokwe-Macamo. Picture: FINANCIAL MAIL

Two suspended executives return to PetroSA — but only to the board

In a dramatic twist, suspended executives may have backed moves to isolate former board chairwoman Nonhlanhla Jiyane, who quit this week

Companies

Curro Holdings drops its bid for Advtech

Picture: THINKSTOCK

Curro drops its bid for rival education group Advtech, saying it is unable to perform limited due diligence on Advtech to obtain more information about cost savings

Trade & Industry

Currency movements take toll on BAT

Picture: THINKSTOCK

British American Tobacco reports slower half-year earnings growth, citing adverse currency movements as main drag on revenue

Europe

VW overtakes Toyota to take lead in global sales

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

Volkswagen in first place as biggest vehicle maker three years ahead of its target

Americas

Playground fun over as insurers back off from Toys ‘R’ Us

Boom days, when stores like this one in New York were filled with customers, seem to be over for Toys ’R’ Us. The company has suffered losses and its share price is falling. Picture: BLOOMBERG

New headache for toys retailer after it suffers more than two years of losses

Financial Services

Barclays on track to buy African operations from mother company

Maria Ramos. Picture: MARTIN RHODES

Barclays Africa says there is no timeline on when Zimbabwean, Egyptian acquisition will be concluded, but negotiation process will be accelerated

Trade & Industry

GM plans new line for emerging markets

Chevrolet cars are seen at a General Motors dealership. Picture: REUTERS

General Motors in surprise announcement it plans to invest $5bn to create a new line of vehicles for emerging markets

Telecoms & Technology

MTN shares sink as group warns of exchange rate hit

A vendor holds cellphones and airtime cards at a stall operated by MTN in Kigali, Rwanda. The industry is growing in leaps and bounds across the continent. File picture: BLOOMBERG

Group is also expected to provide information on the $1bn of funds in Iran following a nuclear deal

Companies

Advtech shareholders, parents take firm stand against Curro bid

Picture: THINKSTOCK

Advtech’s annual meeting of shareholders turns into rally against bid to merge owner of Crawford schools with mass education provider Curro Holdings

Europe

Diageo dissolves Heineken venture to go solo in SA

Alcohol consumption. Picture: THE TIMES

Diageo to dissolve venture with Heineken in SA, neighbouring Namibia three years earlier than planned so distiller can fully own its operations in those countries

Opinion

ON THE MONEY: Abil business rescue move may see shareholders pocket some money

More really bad news for taxpayers, who are on the line for a R7bn guarantee

Opinion

COMPANY COMMENT: Standard Bank; Telkom

Picture: SUNDAY TIMES

Bank’s disposal gains put a shine on results while details of Telkom’s executive remuneration could not have come at a worse time

Asia-Pacific

Toshiba cuts executives’ pay over accounting scandal

Masashi Muromachi, chairman and interim president of Toshiba Corporation (left) sits with Hisao Tanaka, outgoing president and chief executive officer, during a news conference in Tokyo, Japan, on Tuesday. Picture: BLOOMBERG/AKIO KON

Company says 16 executives will take temporary pay cuts while another resigns in wake of billion-dollar accounting scandal

Europe

German regulator orders Facebook to allow pseudonyms

Facebook’s Innovation and Entrepreneurship Lab — inaugurated during the launching of the ‘Facebook in the Community’ project in Sao Paulo, Brazil. Picture: AFP

Forcing users to stick to their real names violates privacy rights, says German authority, while Facebook declares authentic names protects people safety and privacy

Mining

Vedanta opens new zinc mine in Northern Cape

Vendata. Picture: SUPPLIED

Vedanta plans to turn Southern African region into one of most important suppliers of zinc globally through Gamsberg project

Financial Services

Convergence Partners fund realises more than $200m

Picture: THINKSTOCK

Fund reaches its final close with capital commitments from institutions such as the Public Investment Corporation

Opinion

COMPANY COMMENT: Lonmin; listed property sector

A man rides his bicycle past the Lonmin mine outside Rustenburg, northwest of Johannesburg. Picture: REUTERS

Dim view of Lonmin's move to reduce jobs while two big deals could mark the end of consolidation in listed property for the year

Opinion

Pearson chooses digital path with FT’s sale

Copies of the Financial Times newspaper sit in a rack at a newsstand in London, Britain, on Thursday.   Picture: REUTERS

Britain’s Financial Times faces new chapter in 127-year history after owner Pearson says it plans to sell paper to Japan’s Nikkei media group

Telecoms & Technology

Vodacom, finance chief part ways

Picture: THINKSTOCK

Financial executive and replacement have worked alongside one another for more than 18 months to prepare for the role, says insider

Industrials

Mondi expects increase in first-half profit

Picture: THINKSTOCK

Analyst says ranges paper company provided suggest better than expected earnings, probably driven by capital investment programme

Financial Services

Blue’s bid to convert debt to equity hits obstacle

Johan Meiring. Picture: FINANCIAL MAIL

Pan-African lender needs capital to move forward and wants its funders to convert about R468m of debt into equity

Americas

The only six stocks that matter

New York Stock Exchange. Picture: BLOOMBERG/JIN LEE

Handful of companies have driven gains in major US stock indices this year, raising fresh concern about health of market

Mining

Exxaro in BEE partner loan deal

Picture: THINKSTOCK

BEE shareholder Mainstreet 333 has to raise about R400m to avoid selling part of its stake or breaching finance agreements with lenders

Europe

BP falls into second quarter loss on oil spill charge, price slump

PR NIGHTMARE: Smoke billows from controlled oil burns near the site of the BP  oil spill in the Gulf of Mexico in 2010.   Picture: BLOOMBERG/DERICK E HINGLE

BP says it sank into red in second quarter, after taking vast $10.8bn hit on costs linked to deadly 2010 Gulf of Mexico oil spill as well as knock from oil price slump

Americas

Tobacco giant wins bid to halt payment

Picture: THINKSTOCK

Canadian appeal court rules British American Tobacco subsidiary Imperial Tobacco Canada and others will not have to make a preliminary deposit of C$1.13bn

Standard Bank

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