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Picture: FINANCIAL MAIL

SABMiller forges closer Coca-Cola ties

3 hour(s) ago

Though still ’fundamentally a beer company’, SABMiller gives more attention to its business of making and distributing Coca-Cola’s and its own soft-drinks brands

Energy

PetroSA boss fired

Tshepo Kgadima. Picture: THULANI MBELE
4 hour(s) ago

Controversy forces hand of Central Energy Fund on Kgadima, accused of swindling more than 250 investors who put money into his company LontohCoal for projects that did not exist

Mining

Shanduka and Pembani merger to go ahead

Cyril Ramaphosa. Picture: SOWETAN
4 hour(s) ago

Two people close to the deal say they believe Shanduka’s management had been unhappy with the sale to Pembani and wanted Cyril Ramaphosa’s share

Healthcare

Ascendis beefs up its BEE shareholding

Ascendis CEO Karsten Wellner. Picture: TREVOR SAMSON
2 hour(s) ago

Company to shift its empowerment shareholding from 7% to about 15% in the medium term after a R140m convertible debenture issue to WDB Investment Holdings and Senatla Capital

Mining

Deep Value offers R5 for Abil shares

Picture: THINKSTOCK
2 hour(s) ago

But one shareholder tells Business Day on condition of anonymity he will not take up the offer as he sees more value than what is being offered

Mining

Steel giant loses court battle over documents

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL
1 day(s) ago

In judgment with wider significance for industrial companies, the Supreme Court of Appeal orders steel producer ArcelorMittal SA to hand over environmental information to lobby group

Financial Services

Standard Bank UK unit in another pickle

Picture: SUNDAY TIMES
1 day(s) ago

Company accused this week of being involved in the fixing of platinum and palladium prices as long ago as 2007

Financial Services

UK expert urges SA to encourage new banks

Picture: SUNDAY TIMES
1 day(s) ago

London-based Lafferty Group chairman Michael Lafferty says adding more retail banks could help drive competition and help extend services to places where the major banks do not have a solid presence

Retail & Consumer

Brait to spend Pepkor gains on acquisitions

Brait CEO John Gnodde. Picture: FINANCIAL MAIL
1 day(s) ago

As many as three acquisitions possible in SA and Europe in the next year-and-a-half

Retail & Consumer

Foschini group launches online stores for brands

Picture: SUNDAY TIMES
1 day(s) ago

In a retail market worth more than R500bn‚ online transactions account for less than 1% in SA

Picture: BUSINESS DAY

Truworths eyes kids’ brand Naartjie

This is the second buyout in as many months for cash-rich Truworths under departing CEO Michael Mark

Retail & Consumer

Uproar over Israel dominates Woolies AGM

Woolworths protests. Picture: GALLO IMAGES/The Times / Esa Alexander
1 day(s) ago

Meeting tense and drawn-out affair, and the formal parts — which usually take 10-15 minutes to run through — take a full two hours to complete

National

Shanduka sale does not go quite to plan

Cyril Ramaphosa. Picture: TREVOR SAMSON
1 day(s) ago

Deputy President Cyril Ramaphosa in bumpy exit from business

Telecoms & Technology

Telkom stock responds to reform efforts

Sipho Maseko. Picture: FINANCIAL MAIL
2 day(s) ago

New board and CEO are implementing a turnaround programme that seeks to cut R5bn

Industrials

Omnia able to perform ‘steadily through poor environment’

Omnia MD Rod Humphris. Picture: MARTIN RHODES
2 day(s) ago

CEO Rod Humphris indicates group’s chemicals business still under pressure

Industrials

Tough times ‘rattle construction firms’

Picture: BLOOMBERG
2 day(s) ago

Overall industry revenue increased 9% in the year to date, but total profits were down 4%

Retail & Consumer

Activist group agrees truce with Woolworths

2 day(s) ago

But deal remains fragile as BDS accuses the retailer of distorting facts

Opinion

COMPANY COMMENT: Ansys; property listings

Picture: THINKSTOCK

Ansys has eye on annuity income, while property sector will experience up to three new listings before the new year


International companies


African Business

Glencore tackles Congo energy shortage

Augustin Matata Ponyo, right, and Belgium's Prime Minister Elio Di Rupo pose ahead of a meeting in Brussels in June. Picture: REUTERS/FRANCOIS LENOIR
3 hour(s) ago

Miner and partners are sinking $360m into refurbishing the country’s main hydroelectric plant, and recouping the cost through reductions in utility bills

Asia-Pacific

Alibaba launches Internet TVs in China

TECHNOLOGY: Alibaba is planning what could be the biggest US public debut ever.   Picture: REUTERS
13 hour(s) ago

The new TVs in partnership with Haier represent Alibaba’s renewed push into the Internet TV market

Americas

Wal-Mart cuts dozens of China executives to cut costs

Picture: REUTERS
16 hour(s) ago

The multinational has faced setbacks in China, including an embarrassing food-safety scandal in which its popular ‘Five Spice’ donkey meat was found to have traces of fox meat

Asia-Pacific

Samsung heir apparent starts making mark

Lee Jae Yong. Picture: BLOOMBERG/SEONGJOON CHO
1 day(s) ago

Lee Jae Yong is overseeing $8bn in proposed deals including a share buyback by the electronics company

Picture: THINKSTOCK

Investment companies sell BP empowerment stakes

Oil companies must have black ownership of at least 25% plus one share under the Liquid Fuels Charter and Broad Based Black Economic Empowerment Codes

Americas

Rio Tinto mine to be expanded

New Rio Tinto chief executive Sam Walsh poses for photographs at a Rio Tinto office in London on Thursday.  Picture: REUTERS
2 hour(s) ago

The diamond mine in Northwestern Canada is expected to start production from the pipe from late 2018

Americas

Black Friday specials set to draw 140-million US shoppers

Walmart.  Picture: REUTERS/JONATHAN ALCORN
1 day(s) ago

An estimated 140-million US shoppers will hit shops and web this weekend in search of post-Thanksgiving Day discounts

Picture: MICHAEL ETTERSHANK

Moody’s extends review period for downgrade of African Bank

Rating agency extends review period for downgrade of African Bank’s credit ratings as Reserve Bank’s restructuring plan is still in progress

Americas

Shopping centres with superior style and service lure customers

Santa's Helpers. Picture: REUTERS/CHARLES PLATIAU
1 day(s) ago

Malls are touting convenience and special events as an alternative to last year’s heavy discounting

Europe

Mistakes of big UK banks will take a generation to fix

A pedestrian passes a Royal Bank of Scotland branch in the City of London. Picture: REUTERS
1 day(s) ago

Toxic culture, decades in the making, will take a generation to turn around, says Conservative MP

African Business

One Re targets 38 African countries

Picture: THINKSTOCK
1 day(s) ago

Started by Johannesburg-born brothers Andrew and Robert Lewis in 2012, company already has clients in Mozambique, Angola and Lesotho

Retail & Consumer

Steinhoff looks beyond rivals with Pepkor buy

Steinhoff CEO Markus Jooste. Picture: FINANCIAL MAIL
1 day(s) ago

The deal, said to be SA’s largest corporate transaction yet, values Pepkor at more than Mr Price Group

Mining

De Beers set to co-operate with small players

MYSTERIES: A mining truck carries diamond-bearing kimberlite rock away from the pit floor at the Jwaneng mine, operated by the Debswana Diamond Company, a joint venture between De Beers and Botswana’s government, in Jwaneng, Botswana. Picture: BLOOMBERG
1 day(s) ago

Orapa pit has at least 35 more years of mining left, says mine manager

Education

Advtech to buy low-fee schools group

Leslie Maasdorp. Picture: WORLD ECONOMIC FORUM
1 day(s) ago

The company will ask permission from investors to issue up to 55-million shares

Americas

Apple’s record value reaches new milestone

Tim Cook. Picture: BLOOMBERG
1 day(s) ago

About 85% of technology companies that have reported third-quarter results topped forecasts

Europe

Algorithms in place to rescue gamblers

Ladbrokes. Picture: BLOOMBERG/CHRIS RATCLIFFE
2 day(s) ago

A media backlash and political posturing ahead of the British national election next year has increased pressure on companies to show they are serious about tackling the problem of gambling

Property

Listed property ‘will slow next year’

Picture: THINKSTOCK
2 day(s) ago

In the twelve months to October, local property index return at 19.4% against equities’ 12.5%

Retail & Consumer

Court bans in-store Woolworths protests

2 day(s) ago

Pro-Palestine boycott group welcomes order to meet retailer’s representatives by December 10

Europe

BT’s wireless castoff is back in crosshairs

BT Group. Picture: BLOOMBERG
2 day(s) ago

British phone company in preliminary talks with Telefonica’s O2 — the wireless business spun off in 2001 — and EE about an acquisition

Europe

ING plans to cut Dutch jobs

ING Groep. Picture: BLOOMBERG/MATTHEW LLOYD
2 day(s) ago

The banking group, which has 53,000 staff, says the cuts will occur over the next three years and save about €270m from 2018

Retail & Consumer

SABMiller to export to Canada and enter Brazil again

Picture: THE TIMES
4 day(s) ago

Brewer has plans to re-enter Brazilian market while also distributing own beers in Canada, adding two new markets to group’s Latin American unit

Media & Advertising

Naspers to expand e-commerce platforms on Schibsted deal

Picture: SHELLEY CHRISTIANS
2 day(s) ago

Internet and media group will further expand e-commerce platforms in Latin America, Southeast Asia after reaching agreement with Oslo-based Schibsted

Opinion

COMPANY COMMENT: SABMiller; property developers

Picture: THINKSTOCK

SABMiller’s strategy requires country-specific approaches, while offshore property players may be the better investment for South Africans looking for exposure to listed property next year

Europe

Chief’s departure hits Thomas Cook

Harriet Green. Picture: BLOOMBERG
1 day(s) ago

Shares in the world’s oldest travel company fall as much as 23% on news of Harriet Green’s departure

Asia-Pacific

China stocks are hostage to a few IPOs

Picture: REUTERS
2 day(s) ago

The nation’s $4.3-trillion stock market has become hostage to the fundraising plans of companies seeking just $1.3bn

World

Uranium jumps after good signs from China and Japan

Tim Gitzel:  Picture: REUTERS/DAVID STOBBE
1 day(s) ago

Uranium dropped as much as 62% after the meltdown at Tokyo Electric Power’s Fukushima Dai-Ichi plant in March 2011

Europe

Google in firing line in Europe as legislators vote on break-up

PRIVACY ISSUES: Pedestrians walk in front of Google’s headquarters in Mountain View, California. The US company has started to comply with the EU’s ‘right to be forgotten’ ruling. Picture: BLOOMBERG/DAVID PAUL MORRIS
1 day(s) ago

When EU calls for the break-up of Google, Americans should know behind antitrust probe stand not only Europeans but US competitors

Asia-Pacific

Codelco seeks billions to revive production

Codelco.  Picture: BLOOMBERG, MORTEN ANDERSON
2 day(s) ago

Imports by China, where copper is used as an industrial material as well as a collateral for financing, will drop next year

Financial Services

Transaction Capital hints at interest in African Bank

Picture: MICHAEL ETTERSHANK
2 day(s) ago

CEO David Hurwitz says company is very well placed in 'skill to absorb that type of collection activities'

Media & Advertising

Naspers has $1.65bn in online warchest

Picture: SHELLEY CHRISTIANS
2 day(s) ago

Naspers CEO Bob van Dijk says the group will pursue acquisitions in online classifieds and the delivery of online content

Property

Vukile expects to grow distributions

Property fund. Picture: THINKSTOCK
2 day(s) ago

Property fund says its forecast is based on assumption that macroeconomic environment will not deteriorate further, no major corporate failures will occur

Opinion

COMPANY COMMENT: Mr Price; ArcelorMittal SA

Picture: MICHAEL ETTERSHANK

Mr Price seems best placed among SA’s retailers as we head into a holiday season, while ArcelorMittal SA has annoyed some its customers

Opinion

Blow after blow for ArcelorMittal

Forcing a struggling behemoth to adopt pricing below import parity makes it vulnerable to imports

Retail & Consumer

Shoppers trust big brands in hard times

3 day(s) ago

While they may purchase them, a majority of South African consumers say they are not loyal to store brands, study shows

Property

Nepi shifts aim to Slovakia and Serbia targets

Picture: THINKSTOCK
3 day(s) ago

New Europe Property Investments announces R1.4bn book build to partly pay for Promenada Mall in Bucharest and to finance acquisitions in Slovakia and Serbia

Retail & Consumer

Steinhoff deal to take Pep stores to Europe

Steinhoff CEO Markus Jooste. Picture: FINANCIAL MAIL
2 day(s) ago

Steinhoff will use R15bn of the R18bn it raised from shareholders in July ahead of its planned listing in Frankfurt to partly fund the deal

Financial Services

Nedbank to merge corporate, investment banking units

Picture: RUSSELL ROBERTS
1 day(s) ago

SA’s fourth-largest bank says Brian Kennedy, head of Nedbank Capital, will be responsible for merged unit from January 1

Energy

Ageing infrastructure, emergency measures hit Eskom’s profit, says CEO

Eskom's Medupi station. Picture: ARNOLD PRONTO
2 day(s) ago

Ageing infrastructure, disproportionately expensive emergency electricity generation methods take toll on power utility, which sees net profit drop 24% to R9.3bn

Industrials

Defy launches R120m fridge production line in East London

Defy employees work on the factory line in Wilsonia in this September 2011 file photo: Picture: SOWETAN
3 day(s) ago

Company has invested R500m in expanding factories in SA over last three years

Asia-Pacific

Samsung likely to focus on change in leaders

Lee Kun Hee, chairman of Samsung Electronics, left, and Lee Jae Yong, vice-president of Samsung Group. Picture: BLOOMBERG FILE PHOTO
3 day(s) ago

Group’s first management restructure since family patriarch’s heart attack set to focus on the executives leading the world’s biggest smartphone business

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