Новости за 11.08.2024

EDWARD WEST

edward.west@inl.co.za

TONGAAT Hulett’s business rescue practitioners (BRPs) said the failure by shareholders at a meeting to approve a share subscription would result in “a more laborious” business rescue process, but with “effectively the same outcome”.

“Considering shareholder approval has not been obtained for the equity subscription, (which would have resulted in the Vision Consortium owning 97.3% of Tongaat’s shares) this suspensive condition is unfulfilled.... Читать дальше...

NASPERS and Prosus said in a statement Basil Sgourdos would retire as group financial officer and financial director of both companies on November 30 this year after 29 years of “exemplary leadership and service”.

Tawanda Karombo and Edward West

JSE- and Australia-listed mining exploration company Orion Minerals has added to its growth pipeline with the granting of additional prospecting rights for its Okiep Copper Project, in Northern Province, South Africa.

These rights encircle the existing Flat Mines Mining Right on which Orion is finalising its Bankable Feasibility Study (BFS) for Flat Mine North, Flat Mine East and Flat Mine South, the company said in a statement.

The prospecting rights... Читать дальше...

In a landmark judgment, global poultry feed chain manufacturer, Technical Systems (TS) has been awarded an over R180 million copyright infringement claim against upstart Feed Chain Industries, which was proved to have stolen intellectual property to manufacture and sell the feed chain.

Headline earnings per share (Heps) for Gold Fields for the interim period to June, 2024 are expected to be lower by at least 25% compared to the previous contrasting period, on the back of lower gold production although the company expects to bump up its output in the second half-year period.

Pick n Pay Clothing has unveiled the revamp of its Gateway flagship store in Durban, featuring a new design inspired by KwaZulu-Natal and a green-star rating to minimise its environmental impact.

Auto components-manufacturer, MA Automotive Die and Cast in Rosslyn, Pretoria is putting its workers on short time from today, and scaling down capacity for the rest of the year in preparation for the BMW X3, the first electric vehicle to be manufactured in this country, albeit for the export market.

Chelsea wrapped up their pre-season with a 1-1 draw against Inter Milan on Sunday. Enzo Maresca won’t be

Transnet has confirmed it has appointed an external presiding officer who is a senior counsel at the Johannesburg Bar to chair the disciplinary hearing of its suspended Ports Authority CEO, Pepi Silinga.

Indian companies are investing in retraining their CXO-level leaders to capitalize on the country’s growth potential and reduce management churn, ensuring they can compete globally. This approach not only enhances managerial diversity but also broadens entrepreneurial opportunities. The focus on skilling extends beyond top management, with a growing emphasis on entry-level employees. As India aims to become a global manufacturing hub, companies are urged to collaborate with academic institutions to make the workforce more employable. Читать дальше...

Warrington bounce back to beat London Broncos and move within two points of the Super League top two.

By Nicola Mawson

South Africa’s largest chicken producer, Astral Foods, on Friday said that CEO Chris Schutte is retiring from his position in January next year when the company holds its next Annual General Meeting.

Schutte, who has been CEO since 2009 when the company was unbundled from Tiger Brands and listed separately, has seen the company go through several changes in the industry as well as tough times such as load shedding and skyrocketing maize costs.

He will consult to the company from February for a year... Читать дальше...

Despite huge volatility and uncertainty on global financial markets last week, South African equity, bond and foreign exchange markets remained stable and even improved.

The SA Revenue Service (Sars) has announced new tax changes to the customs import system that clicks into effect on September 1, which will effect Chinese e-retailers Shein and Temu, among others.

Publication of the business rescue plan for beleaguered car-parts and accessories retailer AutoZone was extended to later this month from its scheduled August 5 deadline.

GLENAVON LOSES TO CARRICK ON OPENING DAY Carrick Rangers 2 Glenavon 0 Sports Direct Irish Premiership Loughview Leisure Arena, Taylor’s Avenue, Carrickfergus Saturday 10th August 2024 Carrick Rangers scored two first half goals to comfortably defeat Glenavon on the opening Saturday of the new Premiership season. Curtis Allen (16 mins) and Nedas Maciulaitis (32 [...]

Hindenburg's allegations against the Adani group and Sebi have caused a stir, particularly regarding potential past connections with offshore funds. While these claims might not lead to significant political fallout, they offer the opposition ammunition for further scrutiny. The situation underscores the complexities of regulatory investigations in high-stakes environments.

The fifth and final production in Glyndebourne's glorious summer festival this year is by far the most dramatic and ambitious. Only an accident to one of the principal singers prevented it from rounding off the season in perfect style.

Zomato's quarterly results highlighted Blinkit's impressive growth, reaching a ₹10k cr annual revenue run rate. Swiggy's Instamart and Zepto also gained significant traction. Quick commerce is reshaping the ecommerce landscape, compelling Amazon and Flipkart to respond strategically. Blinkit's success has driven Zomato's valuation past $25 bn, reflecting a broader industry trend towards rapid delivery models. This competitive shift is expected to benefit Indian consumers by enhancing convenience and offering greater discounts.

In a significant development, the Enforcement Directorate (ED) has initiated the disbursement of nearly ₹12 crore to victims of the Rose Valley Ponzi scheme, marking a first in India's financial restitution efforts. This scheme, which defrauded 22 lakh small depositors across West Bengal, Assam, and Bihar, amounted to losses of around ₹17,000 crore. A court-monitored Asset Disposal Committee is overseeing the process, providing some relief to the victims after years of financial turmoil. The case... Читать дальше...

I’m not a fan of the overuse of the word ‘surreal’ but the feeling that I’m sure many of us get today now that the first day of the season has finally arrived is just that. Our beloved club got relegated from the Championship in May to the third tier Read More