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Picture: THINKSTOCK

Rhodes Food to declare first dividend in September

Rhodes, which listed on JSE in October 2014, says business continues to generate strong operating cash flows and board plans to declare first dividend in September

Land & Agriculture

Tongaat headline earnings drop to R945m

Picture: THINKSTOCK

Sugar producer records 14.6% drop in full-year headline earnings to R945m due to reduction in sugar volumes and lower prices

Retail & Consumer

Quantum Foods revenue hit by SA operations

Picture: MARIANNE SCHWANKHART

Recently listed poultry business says it has achieved ‘credible’ set of results in first half of financial year, with report its first since unbundling from Pioneer Food Group

Retail & Consumer

Dividend rise sign of an upbeat Richemont

A pedestrian walks past a Cartier store, operated by Richemont, as it stands illuminated at night in Shanghai, China. Picture: BLOOMBERG

Biggest factor in the steep fall in bottom line profits stems from foreign exchange hedging tactics which caused ‘noncash, mark-to-market’ losses

Transport & Tourism

SAA jet fuel plan ‘will set it back’

Picture: SUNDAY TIMES

SAA has said it will allocate half of its R20bn procurement spend, including on jet fuel, to black industrialists

Financial Services

Regulations stymie developments, says HCI

Johnny Copelyn. Pictures: ESA ALEXANDER

HCI CEO Johnny Copelyn says regulatory difficulties are holding up ‘significant development of several of our businesses’

Property

German assets boost Sirius

Picture: THINKSTOCK

German business park owner Sirius Real Estate grows its net asset value per share 13% in the year to March

MTN. Picture: BLOOMBERG/NADINE HUTTON

MTN warns over Nigeria fuel crisis

Nigeria’s biggest mobile phone operator MTN has warned that its network faces shutdown

Land & Agriculture

Tongaat headline earnings drop to R945m

Picture: THINKSTOCK

Sugar producer records 14.6% drop in full-year headline earnings to R945m due to reduction in sugar volumes and lower prices

Europe

CFM leaps ahead with aircraft fuel efficiency

Picture: THINKSTOCK

Joint venture CFM International ahead with Leading Edge Aviation Propulsion — Leap — motors that will power most of the next generation of planes

Opinion

COMPANY COMMENT: Tiger Brands; NVest Financial Holdings

Peter Matlare, CEO of Tiger Brands. Picture: MARTIN RHODES

Wily staff make new headaches for Tiger Brands, while NVest Financial Holdings aims to list on the AltX shortly


International companies


Americas

McDonald’s CEO gets grilled at first annual meeting

Picture: MARTIN RHODES

Shareholders take new CEO Steve Easterbrook to task over wages, advertising and food

Americas

BlackBerry cuts jobs worldwide as it consolidates businesses

Picture: REUTERS

Company does not specify how many employees will be affected

Striking workers wait at a Renault factory in western Turkey on Friday. AFP PHOTO/OZAN KOSE

Workers in Turkey mull Renault offer

Renault offers a risk-free cash payment to striking workers in western Turkey who downed tools in wage dispute
Lucky Montana, left, group CEO of Prasa, and Gibela Rail MD Marc Granger are optimistic about the regulatory progress being made towards delivering the first 20 trains being built in Brazil. File picture: MARTIN RHODES

Gibela Rail confident of meeting 2017 target

Programme on track despite claims of nepotism in empowerment deals, writes Nicky Smith

Retail & Consumer

Krispy Kreme doughnuts coming to SA

Picture: THE NEW YORK TIMES/OZIER MUHAMMAD

Global doughnut company Krispy Kreme planning to open 31 shops in South Africa over next five years in first venture into Africa

Europe

Dutch government ‘to push ABN AMRO listing’

Eurogroup president and Dutch Finance Minister Jeroen Dijsselbloem gives a press conference after finance ministers met at the European Council in Brussels on Monday.  Picture: AFP PHOTO/EMMANUEL DUNAND

Dutch Finance Minister Jeroen Dijsselbloem’s plan expected on Friday for possibly the country’s biggest IPO

Property

Investec Property Fund raises dividend

Picture: THINKSTOCK

Fund’s portfolio remains appropriately defensive in the current economic environment, says MD Nick Riley

Retail & Consumer

Foreign exchange losses take toll on Richemont

A pedestrian walks past a Cartier store, operated by Richemont, as it stands illuminated at night in Shanghai, China. Picture: BLOOMBERG

Swiss-based luxury goods group posts drop in full-year net profit due to foreign exchange losses after Swiss National Bank ends peg of Swiss franc to euro

Financial Services

Investec makes up on tough few years

Investec. Picture: MARTIN RHODES

Investec is in the best position it has been since the mid-2000s, says CEO Stephen Koseff

Retail & Consumer

African units drag Tiger Brands down but operations in SA remain robust

Tiger Brands CEO Peter Matlare. Picture: MARTIN RHODES

Haco Tiger Brands in Kenya loses 60% of volume growth and 58% of turnover while foreign exchange losses cause more pain

Industrials

Stefanutti recovery plan bears fruit

Stefanutti Stocks CEO Willie Meyburgh. Picture: FINANCIAL MAIL

Diversified construction and engineering group Stefanutti says it has resolved ‘self-inflicted’ woes

Mining

Afrimat’s headline earnings jump 24.4% and ‘the party’s not over yet’

Mine. Picture: SOWETAN

Group benefits from a good performance by its newer industrial-minerals operations

Financial Services

Niveus changes its dividend policy amid licence worries

Niveus originally indicated a willingness to pay half its headline earnings out in dividends

Healthcare

Mediclinic revenue rises but shares dip

Picture: THINKSTOCK

Share price falls as much as 7% after investors expected even better results

Transport & Tourism

Tsogo may split off property assets

Casino. Picture: DAILY DISPATCH

Envisaged listing would rank the specialised Reit among the biggest real estate counters on the JSE

Energy

Sacoil in red after portfolio rationalisation

Oil refinery. Picture: THINKSTOCK

Company goes to court to reclaim R3.3m plus interest linked to former CEO Robin Vela’s unpaid taxes

Europe

Ferrari approaches pole position for IPO

Ferrari’s Sebastian Vettel leads Lewis Hamilton of Mercedes in the Spanish Grand Prix in Barcelona on May 10. REUTERS

Fiat Chrysler is preparing to list a stake in its sportscar division just as the most successful Formula One team is getting its act together again, write Alan Baldwin and Agnieszka Flak

Americas

Chinese deals give much-needed boost to Brazil

Brazilian President Dilma Rousseff, right, offers a toast after lunch with Chinese Premier Li Keqiang in Brasilia on Tuesday. Picture: REUTERS

Chinese officials announce sweeping list of investment plans and loans in Brazil totalling many billions of dollars

Opinion

COMPANY COMMENT: Pioneer; Mining Charter

Picture: THE TIMES

Pioneer’s small steps lead to Africa growth while the spate between mines and the state hurts SA’s image

Europe

UK banks face further fines

Picture: BLOOMBERG/CHRIS RATCLIFFE

Barclays and Royal Bank of Scotland face up to £7bn in additional fines for misconduct within two years

Mining

De Beers tailings operation up for sale

Picture: THINKSTOCK

De Beers puts operation to recover diamonds from tailings at Kimberley up for sale, seeking to extend life of its second-largest source of local diamonds beyond 2018

Healthcare

Aspen agrees to sell portfolios to Strides in Singapore and India

Aspen Pharmacare Holdings says transactions form part its strategy to focus attention on areas where most value can be added

Retail & Consumer

Mr Price eyes earnings rise

Picture: MICHAEL ETTERSHANK

Mr Price Group expect headline earnings per share of between 902c and 933c, despite factors weighing on consumer spending

Mining

Chamber of Mines urges carbon tax delay

Mike Teke. Picture: MARTIN RHODES

Chamber of Mines president Mike Teke calls proposed tax an ‘absurdity’ in the light of heavy losses in the carbon-intensive industry

Opinion

COMPANY COMMENT: Oceana; Theo Botha

Oceana CEO Francois Kuttel. Picture: FINANCIAL MAIL

Will Oceana be bitten fishing in new seas? And shareholder activist Theo Botha says it is not his aim to give companies a hard time with questions at annual general meetings

Opinion

COMPANY COMMENT: Transaction Capital; estate developments

Noord Street taxi rank in Johannesburg is part of a much larger system that has democratised the movement of people. Picture: SUNDAY TIMES/ERIC MALEMA

Transaction Capital has upward potential, while secure estate developments in SA are proving to be a hit

Mining

BHP broke law with officials’ Beijing trips

People walk through the foyer of the BHP Billiton headquarters in Melbourne, Australia, in this file picture. Picture: BLOOMBERG

Australian miner to pay $25m to settle US SEC claims it offered hospitality packages to 176 foreign officials ‘involved with BHP Billiton contract negotiations or regulatory dealings’

Telecoms & Technology

Dimension Data to boost spend on cloud offerings

Picture: THINKSTOCK

Dimension Data is targeting $4bn of revenues from data centre management in three to five years

Media & Advertising

Blackstar confirms name change to Tiso Blackstar

Picture: SUNDAY TIMES

Investment holding company says scheme of arrangement to acquire all ordinary shares in issued share capital of Times Media Group is ‘unconditional’

Land & Agriculture

Oceana on course to become big fish after R4.6bn US acquisition

Oceana CEO Francois Kuttel. Picture: FINANCIAL MAIL

Fishing conglomerate, which has Tiger Brands as an anchor shareholder, will acquire 100% of Louisiana-based Daybrook Fisheries

Retail & Consumer

Weaker naira puts pressure on Tiger Brands

Food producer says performance was held back by foreign exchange losses in Nigeria-based Dangote Flour Mills

Financial Services

Coronation to stay on mandate despite dip

Anton Pillay. Picture: FINANCIAL MAIL

Though Coronations stock has dropped 22% so far this year, its fund managers won’t change its long term, valuation-driven investment philosophy

Telecoms & Technology

Dimension Data set for more acquisitions

Derek Wilcocks. Picture: RUSSELL ROBERTS

Dimension Data in discussions to buy one of two companies operating in the software-applications market as part of its growth strategy

African Business

Bourses in Africa plan to cross-list more ETFs

Picture: MICHAEL ETTERSHANK

JSE says SA, Nigeria and Kenya planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities

Retail & Consumer

Astral hatching plan to expand presence in Africa

Astral Foods CEO Chris Schutte. Picture: FINANCIAL MAIL

The continent offers huge rewards for poultry producer Astral Foods with low per-capita chicken consumption a big opportunity

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Calendar

Mr Price Mr Price finals
Richemont Richemont finals
Hosken Consolidated Investments Hosken Consolidated Investments finals
Indequity Indequity interims
ISA Holdings ISA Holdings finals
Rockwell Diamonds Rockwell Diamonds finals
Wilderness Wilderness finals
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