Telkom split of wholesale and retail promises lower prices
The functional separation has raised speculation that a structural separation of Telkom could be on the cards
Retail & Consumer
Edcon secures franchise rights to UK’s Dune brand
A standalone Dune store will open in Sandton City Shopping Centre in August, with store-in-store concepts opening in four Edgars branches during November
Financial Services
Standard regains lead in banking market
The battle is not over with rival FirstRand nipping at lender’s heels, writes Maarten Mittner
Financial Services
No up front fee product proves win for Liberty
Liberty expects to raise R5bn in retail investments by the end of the year through its recently launched no upfront fees investment product, Liberty Evolve
Telecoms & Technology
CEO insists Telkom is on a new path
Company set to sell off noncore and poorly performing assets
Transport & Tourism
Fastjet sets off on new flight path
Controversial low-cost carrier will not be selling tickets in SA any time soon
Business
Cadac Pension Fund under scrutiny
Claims emerge of pensioners’ money used to buy gleaming headquarters and irregularities in appointment of provisional curator of Cadac Pension Fund
Irish parent approves Independent News & Media SA sale
Controversial sale of Independent News & Media South Africa to Sekunjalo consortium to proceed after shareholders give the go-aheadOpinion
Why Transnet may have reason to be a little smug
Bronwyn Nortje
Transnet has already been able to raise about half of the R15bn that it plans to gather for the financial year to next March
Energy
Nordex awarded wind farm contract
Construction of the Eastern Cape wind farm south of Bedford will start in the third quarter of next year
Media & Advertising
AME grows revenue by 5% to R216.7m
Africa Media Entertainment says it is confident next year’s revenue will compare favourably with the previous reporting period
Financial Services
Nedbank is not scared of Capitec, and here is why
Does size matter? Nedbank CEO Mike Brown says it depends on the measuring tool one uses
International companies
Visa Europe’s offer to cut fees to be put to test
Antitrust regulators invite comment on Visa Europe’s offer to cut fees it sets for processing cross-border credit-card paymentsBusinessDay
Samsung set to launch faster phone model
Head of its mobile business at Samsung Electronics says company plans to sell a faster version of flagship Galaxy S4 smartphone
BusinessDay
Hollande backs fraud-accused CE
France Telecom shares jump after President Francois Hollande backs CEO to keep his job
Europe
ABB promotes top manager Spiesshofer to CE
ABB names one of its top managers as its new CE, calming investor fears of a management vacuum after the surprise resignation of CEO Joe Hogan
Europe
Saipem falls 27% after warning
Saipem’s share price falls up to 27% after Europe’s biggest oil industry services group gives its second major profit warning in less than six months
Jury is still out on ailing Telkom
Telkom’s leadership has made some bold moves in the past few months, but the jury is still out on whether this is enough to turn around the ailing fixed-line operatorTelecoms & Technology
Telkom says turnaround drive ‘urgent’ as earnings plummet
Telecoms group’s review includes internet business outside South Africa, property portfolio, noncore assets in South Africa and staff cuts
Transport & Tourism
‘Significant doubt’ over fastjet’s future
The South African aviation sector, like most others, is littered with carcasses of potentially great airlines that almost made it
Healthcare
How a small factory in Port Elizabeth conquered the world
By investing in the Eastern Cape, mechanisation and making astute acquisitions, Aspen’s CEO has built up an R80bn company, writes Ray Hartley
Financial Services
MMI Holdings to focus on finding new clients
CEO Nicolaas Kruger says at an investor conference in Centurion on Thursday that at the end of the two-year period there had been very few retrenchments
Industrials
New body from cement industry cast-offs
Built environment sector realised it needed reformed support organisation, writes Mark Allix
Telecoms & Technology
Telkom ‘needs to justify its new valuation’
Further impairment charges likely unless it starts performing, says finance chief
Mining
Keaton considering more acquisitions as revenue rises
Coal miner Keaton Energy evaluates 16 potential acquisitions and buys one, the Mooiklip Anthracite project
Telecoms & Technology
Telkom to pay R200m fine for ‘anticompetitive behaviour’
State-owned fixed-line and mobile telecommunications provider has agreed to settle series of complaints filed by internet service providers
Property
Acucap, Sycom post growth ‘in difficult market’
Property groups manage 5% distribution increase, eye 8% rise in a recovering market
Telecoms & Technology
Orange and Nashua Mobile partnership extends French group’s SA footprint
French telecoms group Orange’s partnership with Nashua Mobile means Orange customers will have access to more services when travelling to South Africa
Media & Advertising
Naspers climbs on JSE after earnings forecast
Diversified media group leads JSE top 40’s rally with rise of 3.29% to R722
Mining
Mining investor Wescoal to increase exposure to coal trading market
Mining investor to buy coal trading business for R79m to increase exposure to coal trading market, CEO says
Americas
Apple ponders bigger iPhone screens in bid to blunt Samsung’s edge
Apple explores launching iPhones with bigger screens, as well as cheaper models in range of colours, as it takes a cue from rival Samsung Electronics
Europe
RBS faces uphill task in search for new CEO
Bank expected to struggle to find experienced banker untainted by industry scandals to fill ‘poisoned chalice’ role after Stephen Hester ousted
Industrials
BSI earnings plummet as operating costs increase
Altx-listed company BSI Steel’s headline earnings per share plummeted 51% in the year ended March 31
Property
JSE property firms adding to portfolios
Recent listings have grown their distributions 10% and more
Transport & Tourism
Work travel ‘lifts Nigeria hotel market’
South African hotel industry upbeat, but cautious about growth — report
Financial Services
Tread carefully abroad, registrar tells SA banks
South Africa’s registrar of banks Rene van Wyk says the Basel 3 global regulatory framework does not cover the risks banks faced when expanding into other countries
Mining
Wescoal plans foray into coal trading with R79m buy
CEO declines to identify the company Wescoal is buying, but says the purchase will more than double the company’s existing domestic trading activities.
Telecoms & Technology
Orange nudges into Africa telecom market
Nashua Mobile partnership will see firm’s products rolled out in South Africa, writes Thabiso Mochiko
Mining
Sekoko owner positive despite takeover bid
‘Steady progress’ being made with funding for growth of mine, writes Evan Pickworth
Europe
France Telecom board to mull CEO’s fraud charge
France Telecom’s board will meet to discuss CEO Stephane Richard’s fraud charge in a probe linked to his time as chief of staff for then finance minister Christine Lagarde
Americas
Internet giants try to shake image of being US government stooges
Microsoft and Facebook follow Google in highlighting where they have refused to comply with government requests for user data
Telecoms & Technology
Consumers want high-speed connectivity — survey
Accenture survey shows mobile providers must grow digital offerings and maintain high-performing networks to attract and keep customers
Financial Services
Sharia-compliant SA bank considers app, range of products
Al Baraka Bank investigates mobile application for its clients, and enabling its bank cards for use in foreign markets
Asia-Pacific
China to scrap iron ore import licensing system to open up trade
China plans to abandon decade-old system, which will open up an import market that takes two-thirds of the world’s international iron ore trade
Europe
Sainsbury outshines Tesco with quarterly sales rise
Britain’s third-biggest supermarket chain meets forecasts for underlying sales growth in first quarter, driven by growth online and in convenience stores
Europe
VW in €1.2bn debt sale to finance plants, MAN takeover
Europe’s biggest car maker sells €1.2bn in debt convertible to preferred stock in order to finance expansion that includes new plants and a full takeover of truck unit MAN
Europe
NEWS ANALYSIS: Metals malaise sees Russians quit FTSE 100
Two Russian metals firms that blazed trail into FTSE 100 are to drop out of London’s blue-chip index this month
Europe
Vodafone courts largest German cable operator
Bid could top €7bn and help fend off competition in its most important European market
Energy
Investec ‘will be lender and investor’ in Cape wind farm project
Close to 305 jobs will be created during the construction phase of project, while 30 permanent jobs will be made available during wind plant’s operation
Mining
Spat between Platinum Australia and JIC Mining comes to a head
Financial dispute between Platinum Australia and former contractor JIC Mining threatens to delay takeover bid of Sydney-listed company by Jubilee Platinum
JSE Sens
- FSE: FIRESTONE ENERGY LIMITED - Initial Director's Interest Notice Appendix 3x
- LAF: LONRHO PLC - TR-1: Notification of major interest in shares
- TFG: THE FOSCHINI GROUP LIMITED - Notification of acquisition of beneficial interest in securities
- SAB: SABMILLER PLC - SABMILLER SIGNS COOPERATION AGREEMENT WITH KOPPARBERG
- BTI: BRITISH AMERICAN TOBACCO PLC - Transaction in own shares
- BTI: BRITISH AMERICAN TOBACCO PLC - Transaction in own shares
- ILV: ILLOVO SUGAR LIMITED - No change statement and Notice of AGM
- ABSA BANK LIMITED - ACL020 and ACL025 - Interest Rate Reset
- ABSA BANK LIMITED - ACL137 - Interest Rate Reset
- ABSA BANK LIMITED - ACL092 - Interest Rate Reset
- ABSA BANK LIMITED - ACL070 - Interest Rate Reset
- ABSA BANK LIMITED - ACL118 and ACL120 - Interest Rate Reset
- ABSA BANK LIMITED - ACL123 and ACL132 - Interest Rate Reset
- ABSA BANK LIMITED - ACL133 - Interest Rate Reset
- ABSA BANK LIMITED - ACL068 - Interest rate Reset
| All Share | 40323.62 | 0.00% | same |
| Top 40 | 35937.44 | 0.00% | same |
| Financial 15 | 10934.41 | 0.00% | same |
| Industrial 25 | 46028.80 | 0.00% | same |
| Resource 10 | 46487.84 | 0.00% | same |
Data supplied by I-Net Bridge
| FTSE 100 | 6330.49 | 0.00% | same |
| Dow Jones | 15179.85 | 0.00% | same |
| All Share | 40323.62 | 0.00% | same |
| ASX | 4794.60 | -0.22% | down |
| S&P 500 | 1639.040 | 0.00% | same |
Data supplied by I-Net Bridge
| USD/ZAR | 10.0283 | 0.74% | up |
| GBP/ZAR | 15.7154 | 0.47% | up |
| EUR/ZAR | 13.3749 | 0.59% | up |
| JPY/ZAR | 0.1056 | 0.57% | up |
| AUD/ZAR | 9.5113 | 0.11% | up |
Data supplied by I-Net Bridge
| Gold | 1378.6250 | -0.38% | down |
| Platinum | 1428.0000 | -0.14% | down |
| Silver | 21.7972 | -0.26% | down |
| Palladium | 704.5000 | -0.77% | down |
| Brent Crude Oil | 105.470 | 0.00% | same |
Data supplied by I-Net Bridge
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In depth: Budget 2013
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