Luxury carmakers are taking a hit as demand in China plummets

2018-10-10 07:11

Europe’s luxury car titans are bearing the brunt of a slump in Chinese auto demand, and investors in India are paying the price.

Siyabonga Gama may soon be out as Transnet head, say sources

2018-09-27 11:57

Siyabonga Gama will be removed as chief executive officer of Transnet, according to two people familiar with the situation.

Denel seeks equity partners to revive funds

2018-09-19 21:06

Denel is seeking equity partners along the lines of its relationship with Germany’s Rheinmetall Waffe Munition as the state arms maker seeks to recover from a liquidity crisis.

Coca-Cola digs into coffee with $5.1bn Costa purchase

2018-08-31 09:54

Coca-Cola has agreed to buy the UK chain Costa Coffee for $5.1bn, stepping into a battle with Starbucks as it gains a global brand in hot drinks.

Volkswagen to offer all-electric car-sharing from 2019

2018-08-23 15:30

German auto giant Volkswagen says it would launch an all-electric car-sharing service in Berlin next year, hoping to break into a fast-growing market.

Transnet posts huge jump in irregular expenditure to R8.1bn

2018-08-20 12:47

Transnet has reported an increase of irregular expenditure to R8.1bn, up from R692m in the previous financial year, triggering a qualified audit.

Transnet CEO fights for his job as suspension looms

2018-08-19 22:00

Transnet CEO Siyabonga Gama sent a letter to the chair of the state-owned port and rail operator in a bid to fight for his job.

Bayer shares plunge after Monsanto cancer ruling

2018-08-13 10:30

Shares in German chemicals and pharmaceuticals giant Bayer have tumbled more than 10% as markets opened, as investors reacted to a shock US ruling against freshly-acquired Monsanto.

MBA program investigating Transnet CEO's qualification

2018-08-06 22:25

A top international MBA programme, which awarded Transnet CEO Siyabonga Gama his degree, says it is investigating allegations 'about academic integrity' involving Gama's qualification.

BP quarterly profit strikes $2.8bn on high oil prices

2018-07-31 10:05

British oil giant BP says that second-quarter net profit rocketed to $2.8bn, energised partly by high crude prices, and hiked its dividend for the first time in four years.

 

US, Brazil fine Petrobras $853m for bribery

2018-09-27 15:00

US and Brazilian authorities have fined Brazil's oil giant Petrobras more than $853m for paying bribes to Brazilian politicians and political parties, the US Justice Department announced.

Industrial Development Corp increases disbursements by 40% to R15.4bn

2018-09-26 07:31

Total disbursements from the Industrial Development Corporation increased by 40% to R15.4bn during the 2018 financial year, but more work needs to be done to ensure economic inclusivity said Economic Development Minister Ebrahim Patel.

Ex-Transnet board member fails to prove Gordhan was racist to dismiss him

2018-09-18 18:35

An application by former Transnet director Seth Radebe to set aside Minister of Public Enterprises Pravin Gordhan's decision to remove him, has failed.

Sasol sent strike notice over share scheme, says Solidarity

2018-08-28 14:05

According to trade union Solidarity, 95% of its Sasol members in Sasolburg and 83% of its members at Sasol in Secunda also voted in favour of downing tools over the non-participation of white employees in part of a B-BBEE share scheme.

Stand-off over contract after Metrorail workers score CCMA win

2018-08-21 11:44

The CCMA ordered Prasa, trading as Metrorail Western Cape, to pay some R35m to almost 200 workers. But the matter has not yet been laid to rest, as applicants await their first payment and negotiations continue over their employment contracts.

PepsiCo to buy SodaStream for $3.2bn

2018-08-20 12:32

PepsiCo says it plans to buy SodaStream for $3.2bn as the beverage and snacks giant makes further inroads with in-home goods.

Bayer shares down on reports of new Monsanto legal woes

2018-08-16 12:36

Shares in German chemicals and pharmaceuticals giant Bayer have fallen sharply, on media reports of new legal risks stemming from its acquisition of Monsanto.

Canadian start-up seeks testing ground for hyperloop train

2018-08-10 15:33

A Canadian company hopes to build what it bills as the future of public transportation, testing the development of super-fast "hyperloop" trains.

Transnet overpaid by R509m for locomotives - report

2018-08-01 10:57

Transnet has paid R509m more for 100 locomotives after switching a supply contract to a Chinese rail company, according to a report commissioned by the National Treasury.

Sasol sees profit falling up to 11% on R16bn charge

2018-07-20 09:19

Sasol says full-year profit has probably fallen as the world’s biggest producer of fuel from coal takes a R16bn depreciation charge and accounts for expenses on share-based payments.

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