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The Times plans to launch internet television service

The Times newspaper, aiming to increase its online audience by supplying video news clips, said on Tuesday it planned to launch an internet television service this week. Third-party providers will initially provide news clips for the new service, Times TV, which plans in the longer term to encourage its readers to contribute newsworthy videos, the British daily said.

Metal, engineering industries finalise wage deal

Wage increases for employees in South Africa's metals and engineering industries have been finalised weeks ahead of the expiry of the current agreement on June 30, the Steel and Engineering Industries Federation of South Africa (Seifsa) said in on Tuesday.

Who’ll run the internet?

A major wrestling match in the United States' Congress over control of the internet features some strange alliances -- rockers and evangelists vs phone companies and the Bells' usually biggest adversary, cable TV companies. The most far-reaching telecommunications Bill in a decade has as its main purpose making it easier for phone companies to compete against cable companies in offering the equivalent of cable TV.

Disclose – or face penalties

The pension funds adjudicator has issued another ruling, this time against a preservation fund, the major issue involving the underlying investment in an Old Mutual smooth bonus policy. Like the Alexander Forbes case that saw the company agree to pay out R380-million to pension fund members for not disclosing fees, the issue again boils down to disclosure.

Mittal bullish on Arcelor takeover

Mittal Steel this week played down suggestions that it could keep a minority stake in bid target Arcelor if its hostile â,¬24-billion takeover bid fails, claiming it was confident its offer would win shareholder backing and see off Arcelor's plans to merge with Russia's Severstal.

Jo’burg police shoot at striking guards

Police fired rubber bullets to disperse a group of striking security guards who were burning rubbish bins in the Johannesburg city centre on Monday. Spokesperson Superintendent Lungelo Dlamini said the group, who were on their way to Johannesburg Park station after attending a picket at Beyers Naude Square, started burning dirt bins.

CCMA meeting planned to resolve security strike

The Commission for Conciliation, Mediation and Arbitration (CCMA) was on Monday arranging a meeting of security guards and employers in the hope of resolving the strike in which another two guards were killed over the weekend. The pay strike began on March 23 in a dispute over the 8% percent offered by employers.

JSE joins elite club of listed bourses

The JSE Limited's listing attracted plenty of interest on Monday as the exchange now joins an elite club of listed bourses worldwide. Examples of bourses that have listed on their own exchanges include the London Stock Exchange, the New York Stock Exchange, Deutsche Borse, Nasdaq, Euronext and the Australian Stock Exchange.

House-price growth slows further in May

Nominal house price growth of 12,3% year-on-year was recorded in May 2006 compared with a revised growth rate of 13,2% in April, according to the latest Absa house-price index. In real terms, year-on-year growth of 9,6% was recorded in April compared with a revised growth rate of 10,2% in March.

World markets drag JSE down

The JSE was weaker at midday on Monday, dragged down by softer world markets. Gold stocks bucked the trend, however, buoyed by a higher bullion price. By 11.56am, the all-share index shed 0,23%, while the all-share industrial index eased 0,13%. The financial and banks indices fell 0,69% and 0,3% respectively.

Interception Act creates ‘onerous conditions’

Telkom CEO Papi Molotsane said on Monday that the Interception of Communications and Communication-related Information Act places onerous conditions on telecommunications operators. However, he said that Telkom and mobile operator Vodacom were in a position to intercept communications and register subscribers as was required by the Act.

JSE lists on its own boards

Johannesburg's Stock Exchange was listed as a public company on its own boards on Monday. Speaking at a listing ceremony at the exchange in Sandton, Deputy President Phumzile Mlambo-Ngcuka congratulated the stock exchange on another milestone in its history.

Vehicle demand strong despite slower growth

Year-on-year growth in total South African vehicle sales was 14,5% in May, up 6 671 units to 52 534 units. This improvement on April's relatively soft sales figures was driven by an uptick in passenger vehicle sales growth, which picked up to 16,6% in May from April's 13,9%.

Manuel says markets will see corrections

High oil prices and the United States deficit of $800-billion were key reasons for the large sell-off that occurred on the stock markets last week, South African Finance Minister Trevor Manuel said on Monday. He referred to the "yawning, gaping" $800-billion deficit and the rapid rise in the oil price which had been $11 a barrel "a few years ago" and was now standing "on the other side" of $70 a barrel.

Telkom files for price reductions at Icasa

South African telecommunications giant Telkom on Monday filed for an overall price reduction to the Independent Communication Authority of South Africa (Icasa). Telkom said that customers are set to benefit from overall price reductions from August this year if price changes filed by the telecommunications giant are approved by Icasa.

Police intervene in NUM office protest

The situation at the National Union of Mineworkers' (NUM) Rustenburg offices was calm by shortly after noon on Saturday after police intervention, the union said. About 100 NUM members locked the offices and removed a union official's car from the offices on Friday night.

Yahoo! chairperson’s salary cut to $1 a year

Yahoo! says chairperson Terry Semel's annual salary will be reduced to until 2008 in exchange for millions of company stock options that will give its chief executive an opportunity to build on the -million windfall that he has reaped during the past three years.

Auction of bankrupt Brazilian airline postponed

A bankruptcy court judge has postponed Monday's scheduled auction of Brazil's debt-ridden flagship airline Viacao Aerea Rio-Grandense (Varig), the company said on Friday. The auction was rescheduled at the request of potential buyers, Varig said in a statement.
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