SA clothes sellers eye fast, local supply as rivals land – Sharenet
South African retailers are waking up to the need to work more closely with a resurgent domestic textile industry to help fend off global fashion giants muscling in on the continent’s most lucrative market. Cheap Chinese clothes imports almost broke the back of local garment makers, but the sector has started to recover after the […]
As the wheel turns – Financial Mail
A sign of the intensifying pressure on mining companies is that even some of the biggest and most diversified are having to abandon progressive dividend policies. Still, it’s debatable whether progressive dividend policies, which mean increasing dividends every year, were ever an appropriate pledge for companies operating in such a cyclical industry. Abdul Davids comments. […]
Discovery applies for bank licence – Business Day
Using its First National Bank-backed credit card as a springboard, Discovery will launch a ‘full-service’ retail bank as soon as it obtains regulatory approval in a bid to diversify its income streams. The insurer has already put in motion its plan to add a bank to its operations through the acquisition of a nearly 75% […]
Panama casino dims Sun’s results – Business Day
Sun International pulled out all the cost-cutting stops to offset tough trading conditions in its South African market but was tripped up by a poor start at its new casino in Panama and foreign exchange losses in Nigeria. Reporting results for the financial year to end-June, CEO Graeme Stephens said Sun would have reported a […]
MTN in patient wait for Iran funds – Business Day
MTN expects it will take until next year to free its $1.1bn profits trapped in Iran following nuclear agreements Iran reached with the US and other countries to lift sanctions. MTN chief financial officer Brett Goschen said there were still a number of processes that would have to be finalised. But the group felt more […]
Anglo puts a brave face on radical cost cutting – Financial Mail
ANGLO American might have scored public relations points by paying an interim dividend, but was this wise? After all, the figures for the half year to June hardly painted a picture of a robust mining giant with cash to spare: cash flows from operations have fallen, the outlook for commodities remains weak, assets are being […]
Trim fat, analysts tell Barclays Africa even as earnings surge – Business Day
Barclays Africa Group still had room to cut costs and manage excess capital better to help it reach its return on equity target of 18%-20% in the next financial year, analysts said on Wednesday following the release of its interim results. Jihad Jhaveri comments. view article
Curro to put the screws on Advtech – Sunday Times Business Times
Private schooling group Curro’s bid for its smaller rival, Advtech, may become hostile after the latter’s board rejected the PSG-controlled company’s advances and refused to take the offer to shareholders. view article
AdvTech board under fire – Business Report
Kagiso Asset Management, the second biggest shareholder in takeover target AdvTech, is disappointed that the board of the company had decided not to refer Curro’s offer to all shareholders. Simon Anderssen, a Kagiso Asset Management Investment Analyst, yesterday expressed concern at the AdvTech board’s lack of transparency in the withdrawal of the company’s cautionary. view […]
New twist in Curro bid for Advtech – Business Day
THINGS could get unruly in the JSE’s private school sector where a R6bn takeover proposal may go hostile. On Wednesday PSG-controlled private education group Curro Holdings looked determined to take over smaller rival Advtech by detailing the terms of a premium-priced scrip and partial cash buyout offer at R13 a share. It also inferred the […]