WEDNESDAY, 11.30AM RETAIL group Wooltru has bought the ailing retail chain of CNA in a deal valued at about R500-million. The acquisition will be funded by the issue of Wooltru shares. Wooltru executive chairman Colin Hall says that the buyout will not enhance Wooltru earnings over the next couple of years, and that investments will […]

WEDNESDAY, 11.00AM The gold index fell 23,6 points, or 2,45% on the Johannesburg Stock Exchange (JSE) on Tuesday, to a two-month low of 937,9, tumbling as bullion fixed $1,30 lower at $321. The fall pulled down the JSE all share index 33,7 points, to a three-month low of 7145,8, allied with continued futures-based selling in […]

WEDNESDAY, 12.15PM: ORLANDO Pirates Zimbabwean coach Ronald Mkhandawire left on Tuesday with a 15-man squad for the first leg of their third match against Raja Casablanca of Morocco this Sunday. Their mission to win against Casablanca changed for the better on Tuesday night when midfielder Dumisa Ngobe was cleared to play. It was earleir reported […]

WEDNESDAY, 1.00PM ON another front in its war to preserve its telecommunications monopoly over the next five years, Telkom says that it stands to lose billions of rand if the South African Telecommunications Regulatory Authority (Satra) rules against it and allows Internet service providers to offer more than value-added services. The telecom is also fighting […]

PRESIDENT Nelson Mandela came under fire at the start of the Congress of SA Trade Unions congress yesterday.

WEDNESDAY, 4.00PM DEMOCRATIC Republic of Congo President Laurent Kabila has deployed troops in Goma in the northeast of the former Zaire to smother seething unrest which threatens to spill over into open conflict. Clashes between Kabila’s army and the well-armed Tutsis who helped it topple the dictatorship of Mobutu Sese Seko last May are costing […]

WEDNESDAY, 5.00PM PUBLIC service workers can expect salary adjustments backdated to July 1 after the Public and Allied Workers Union (Pawusa) and government negotiators reached agreement in Pretoria this week. The agreement comes after the government made available a further R169,3-million for additional salary increases and brings the salary ranges of teachers and police in […]

TUESDAY, 2.00PM INVESTORS took a more cautious stance on the Johannesburg Stock Exchange on Monday, keeping an eye on international trends and biding their time until the futures close-out later this week. “It was a sleepy market … There is no direction at all … and although the futures guys were active, there was nothing […]

TUESDAY, 3.30PM POLICE early on Tuesday arrested National Consultative Forum leader Sifiso Nkabinde and 17 of his supporters in connection with violence in the Richmond area in the KwaZulu-Natal midlands over the past few months. Nkabinde was arrested when a 500-strong contingent of police and soldiers raided his home in Mogoda near Richmond at dawn. […]

TUESDAY, 1.00PM LIFE assurance group Old Mutual lifted total assets under management by 19% to R235,9-billion in the year to June, according to group MD Gerhard van Niekerk. The increase translates into a 23,9% increase in the excess of assets over liabilities to R29,3-billion, which will be paid to policy holders when Old Mutual demutualises […]