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Markus Jooste. Picture: FINANCIAL MAIL

Competition Commission approves Steinhoff takeover of Pepkor

5 hour(s) ago

Commission says it has recommended that Competition Tribunal approve Steinhoff’s R62.8bn takeover of clothing retailer Pepkor, without conditions

Financial Services

STOCKWATCH: Capitec cashes in on African Bank’s misfortunes

Picture: THE TIMES
4 hour(s) ago

Despite drifting lower on Wednesday, tightly held Capitec shares have surprised analysts over past six months with sharp upward trend, outperforming all bigger banks over period

Industrials

Toyota SA CEO Johan van Zyl appointed head of European operations

Picture: REUTERS
8 hour(s) ago

Van Zyl will take on his added responsibilities on April 1, as president and CEO of Toyota Motors Europe, but will remain in charge of South African company and African region

Financial Services

MMI profits rise despite challenging conditions

Nicolaas Kruger, MMI Group CEO addresses the media and analysts in Sandton on Wednesday.
Picture: MARTIN RHODES
8 hour(s) ago

Group reports 13% rise in interim operating profit to R1.5bn compared with year-earlier period, despite ‘economically challenging, highly competitive conditions’

Industrials

Mpact says year ended December a ‘successful’ one despite challenges

Mpact CEO Bruce Strong at the company's listing on the JSE in July 2011.  Picture: MARTIN RHODES
8 hour(s) ago

Mpact reports 11.9% rise in annual revenue to R8.6bn, with group ‘confident in strategy, well-established market positions and ability to generate shareholder returns’

Telecoms & Technology

MTN SA feels competitors’ heat as annual revenue declines

MTN. Picture: BLOOMBERG/NADINE HUTTON
11 hour(s) ago

Network operator says it expects to build on positive momentum gained on revenue, subscriber additions in the second half of 2014

Financial Services

Barclays Africa eyes faster expansion

Maria Ramos. Picture: MARTIN RHODES
14 hour(s) ago

It has applied for a commercial banking licence in Nigeria and one for an insurance business in Kenya

Industrials

Eqstra turnaround restores confidence of investors

Eqstra Holdings Interim Results with CEO Walter Hill in Sandton. Picture: MARTIN RHODES
14 hour(s) ago

Shares rise nearly 20% after company reports its after-tax profit had risen 7.8% in its interim results to December

Tom Winterboer.  Picture: RUSSELL ROBERTS

African Bank’s spin-off ‘good bank’ could be set up by June

Curator can make offer to creditors owed R48bn only once Banks Act amendment is passed into law, possibly in April

Telecoms & Technology

Naspers aims to grow TV offering in Nigeria

Picture: SHELLEY CHRISTIANS
13 hour(s) ago

Naspers broadcasts English Premier League soccer and international dramas in Africa through its MultiChoice unit

Industrials

Torre’s first payout way ahead of expectations

Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
13 hour(s) ago

Industrial services company has its detractors as small-cap companies that grow rapidly from acquisitions have often come unstuck

Cliffe Dekker Hofmeyr

What makes for a winning law firm in current economic conditions?

Brent Williams. Picture: Jasper Coetzee
14 day(s) ago

Awards, recognition of work of specialist lawyers, successful practice teams indicate Cliffe Dekker Hofmeyr remains on right track, writes Brent Williams

Featured partners

Opinion

THE LAST WORD: A sweet something for Steinhoff in JD deal

Investors should keep a watchful eye on Steinhoff for signs that it may overstep the traditional rules of a parent-child relationship


International companies


Companies

General Electric CEO Jeff Immelt’s crude problem

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
3 hour(s) ago

GE bet heavily on the energy boom but oil has since gone south, creating a gap for activist investors and forcing Immelt to defend his business decisions since empire-builder Jack Welch

Europe

Areva nuclear group announces €4.8bn loss

The headquarters of France's nuclear group Areva. Picture: AFP
8 hour(s) ago

French nuclear group confirms record net losses in 2014 after it is forced to absorb costs linked to project delays

Europe

Standard Chartered rules out share sale as profit plunges 25%

Standard Chartered.  Picture: REUTERS/BOBBY YIP
6 hour(s) ago

Standard Chartered vows to cut costs and shrink its loan book in an effort to quell concerns about its capital strength

Americas

Fraud takes a bite out of Apple Pay

Picture: REUTERS
6 hour(s) ago

Some banks witness growing incidence of fraud on Apple’s mobile-payment service as criminals exploit vulnerabilities

Asia-Pacific

Graft crackdown knocks Macau casino revenue

Picture:  AFP PHOTO/ FILES/PHILIPPE LOPEZ
13 hour(s) ago

Gaming revenue almost halves as crackdown on corruption in China keeps high-stakes gamblers away

Barack Obama. Picture: AFP PHOTO/POOL/SAUL LOEB

Obama hits at China’s new rules on US tech

US president sharply criticises China’s plans for new rules on US technology companies

Europe

Barclays increases war chest for legal battle

Picture: BLOOMBERG/CHRIS RATCLIFFE
13 hour(s) ago

Barclays sets aside extra £750m to cover cost of settling investigation into alleged currency rigging

Europe

BAT eyes rest of Brazil’s Souza Cruz

Picture: THINKSTOCK
13 hour(s) ago

The bid highlights the paucity of acquisition targets in the $783bn tobacco industry, says analyst

African Business

Bindura Nickel eyes smelter restart

SPARKING GROWTH: An employee works in a ferronickel smelter owned by state miner Aneka Tambang  in the Pomala district in Indonesia's South Sulawesi province. The country accounts for roughly 7%  of the world's total nickel mine output. Picture:REUTERS
13 hour(s) ago

Bindura Nickel Corporation will restart smelter by December after raising $20m from five-year bond, says official

Picture: THINKSTOCK

Tinder takes swipe at generating revenue

Tinder launches premium service, its first effort to generate revenue, plans to introduce advertising by end March

Retail & Consumer

Burger King banks on about 250 outlets

A Burger King outlet at Park Station in Johannesburg. Picture: THE TIMES
1 day(s) ago

Aggressive expansion has been held back by the various approvals required by the respective municipalities

Retail & Consumer

Cashbuild defies tough times

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES
14 hour(s) ago

Earnings for six months ended December soar despite ‘difficult trading conditions’

Mining

Higher production boosts Merafe

The bill confirms the practice of allowing investors, including mining houses, to freely repatriate returns, subject to taxation and applicable legislation.  Picture:MARIANNE PRETORIUS
14 hour(s) ago

Junior partner in SA chrome venture with Glencore posts improved annual results on the back of higher production

Industrials

Torre Industries declares a maiden dividend

Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
1 day(s) ago

Torre says this is an indication ‘of the confidence that the board has in the long-term ability of the group to sustain earnings and free cash flow’

Mining

Strong operational performance boosts RBPlat

Picture: THINKSTOCK
1 day(s) ago

But Royal Bafokeng Platinum warns production at Styldrift project has been pushed back by six months because of difficulties at shaft

Mining

Weaker commodity markets hit Glencore’s earnings

Picture: REUTERS
1 day(s) ago

Resources company says it has decided to curtail coal production at Optimum, some coal operations in Australia to align volumes, qualities with demand

Retail & Consumer

Cashbuild ‘positive’ about top line trading performance

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES
1 day(s) ago

Company reports 31% increase in interim operating profits ‘due to continued focus on margins within the competitive environment’

Industrials

Joffe doubts PIC will sell Adcock

Brian Joffe. Picture: MARTIN RHODES
1 day(s) ago

Industrial conglomerate lowers ambition of full takeover of Adcock Ingram following sharp rise in share price of struggling drug-maker

Financial Services

Santam unit MiWay eyes life insurance

Picture: SANTAM
1 day(s) ago

Less adverse weather last year compared to previous years also helped Santam generate better margins

Americas

GSK and Novartis seal swaps

A Novartis logo on its headquarters in Mumbai, India. Picture: REUTERS
1 day(s) ago

Companies complete a series of asset swaps worth more than $20bn that will ’reshape both drug makers’

Industrials

Accentuate cost management helps grow interim earnings

Accentuate CEO Fred Platt.  Picture: FINANCIAL MAIL
1 day(s) ago

Biggest immediate threat to Accentuate and especially its flooring production plant in East London is load shedding

Europe

Barclays boss targets investment unit

Antony Jenkins.  Picture: REUTERS
1 day(s) ago

CEO has pledged to dismantle the fixed income-dominated investment bank created by predecessor Robert Diamond

Industrials

Afrox hopes to lift earnings margin after restructuring

Brett Kimber. Picture: FINANCIAL MAIL
1 day(s) ago

Industrial gases company looks for opportunities to close manufacturing plants and will likely target older, less efficient facilities

Property

SA Corporate reports improved performance of retail portfolio

Rory Mackey. Picture: RUSSELL ROBERTS
1 day(s) ago

Group acquires a R1.1bn portfolio of residential and retail property in the Johannesburg inner city from Affordable Housing Company

African Business

‘No reason to panic’ over Nigeria

A security officer checks a man outside the Nigerian Stock Exchange in Lagos. Picture: REUTERS
2 day(s) ago

A weakened economy on the collapse of the oil price in the second half of 2014, and terrorism particularly in the north of the country, have dented Nigerian equities

Opinion

Mining compact ignores crucial players

Bafokeng mine. Picture: BLOOMBERG/NAASHON ZALK

Ignoring the concerns of mining community organisations is tantamount to signal jamming

Mining

Royal Bafokeng to raise R3bn debt for first phase at Styldrift

Royal Bafokeng Platinum CEO Steve Phiri. Picture: SUNDAY TIMES
13 hour(s) ago

The R11bn Styldrift mine will be RBPlat’s second mine and the board recently approved advancing a definitive study into expanding the mine

Retail & Consumer

Pioneer goes into food partnership in Nigeria

Picture: THINKSTOCK
13 hour(s) ago

ProNutro maker will pay $7m as it invests in a majority stake of newly formed company Food Concepts Pioneer

Retail & Consumer

Steinhoff is set for Frankfurt

Markus Jooste. Picture: FINANCIAL MAIL
14 hour(s) ago

Steinhoff expects the competition authorities to approve its R62.8bn takeover of Pepkor within the next two week

Industrials

Eqstra shares surge after swinging into profit

Eqstra Holdings Interim Results with CEO Walter Hill in Sandton. Picture: MARTIN RHODES
1 day(s) ago

Leasing firm makes biggest intraday gain after announcing first-half profit due to cost cuts, closure of loss-making businesses

Mining

Khulubuse Zuma loses Aurora court bid

Controversial businessman and nephew of President Jacob Zuma, Khulubuse Zuma, arrives for his uncle's inauguration ceremony at the Union Buildings in Pretoria on Saturday. Picture: AFP PHOTO/POOL/MUJAHID SAFODIEN
1 day(s) ago

Urgent application by Khulubuse Zuma to have claims of more than R1.5bn against Aurora Empowerment Systems set aside is dismissed by High Court in Pretoria

National

Government ‘will not sell Telkom to rescue Eskom’

Picture: GALLO IMAGES
1 day(s) ago

Minister of telecommunications and postal services says government will not select fixed-line operator because it will lead expansion of internet access

Financial Services

Barclays Africa makes modest gains as key markets feel pressure

Picture: BLOOMBERG/CHRIS RATCLIFFE
1 day(s) ago

Barclays Africa reports 6% increase in full-year revenue to R63.2bn for year ended December 2014 as number of key markets come under pressure

Opinion

COMPANY COMMENT: Discovery; Shoprite

CEO Adrian Gore addresses the media and analysts regarding Discovery's results in Sandton, Johannesburg, on Tuesday. Picture: MARTIN RHODES

Discovery intent on further growth while Shoprite’s CEO Whitey Basson says exclusivity clauses an agressive retail discounting

Opinion

ON THE MONEY: New bourse may deter investors

SA has a small economy with a relatively small group of possible listings

Retail & Consumer

JD Group debt stance grows debtors’ costs

Picture: THINKSTOCK
1 day(s) ago

Company plans to use R4.7bn proceeds from the sale of its bad-debt laden loan book to pay down debts

Financial Services

Nedbank’s BEE share shrinks

Dr Reuel Khoza addresses the World Summit on Sustainable Development in Johannesburg. His retirement in May marks the end of an era. Picture: UNITED NATIONS
2 day(s) ago

Further dilution looms as deal matures, raising questions on another deal to meet financial sector code target

Financial Services

Old Mutual earnings profile ‘will change’

Old Mutual. Picture: BLOOMBERG/SIMON DAWSON
2 day(s) ago

Group targets earnings growth in UK and rest of Africa as dominant South African business falters

Transport & Tourism

Transnet to roll out new locomotives in July, says CEO

Transnet. Picture: BLOOMBERG/DEAN HUTTON
2 day(s) ago

Transnet will roll out new locomotives in July after General Electric completes its technical design, CEO announces

Business Times

Telkom won’t foot bill for broadband

Telkom CEO Sipho Maseko. Picture: ARNOLD PRONTO
3 day(s) ago

Minority shareholders will be relieved to learn that Telkom does not have to bear burden of entire bill for R98bn national broadband rollout project

Mining

Pan African expects Evander boost

Picture: ARDBEL
2 day(s) ago

Tailings project could be the precursor to a much larger tailings treatment project of 1-million tonnes a month at Evander

Energy

PetroSA plans to cut jobs on slow Mthombo

A chimney flares at PetroSA's Mossgas facility in Mossel Bay. Picture: THE TIMES
2 day(s) ago

National oil company to cut staff numbers by up to 40% as revenue spirals

Business Times

Little hope for Joffe’s Adcock move

Bidvest CEO Brian Joffe. Picture: MARTIN RHODES
3 day(s) ago

Analysts say there’s practically no chance of widespread shareholder support for the deal

JSE Sens

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