The holders of preference shares are at risk of losing their capital – but now there is an offer to acquire all of them.
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Despite tough times of late for South Africa’s platinum sector the Public Investment Corporation is betting on the precious metals’ comeback.
Richemont’s full year earnings have slowed in comparison with the last three years, as the Chinese government cracked down on spending by officials.
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Pick n Pay is seeking to claw back market share with a focus on improving its fresh produce offering.
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While other retailers battle with slow growth, Massmart has announced its earnings gained as much as 37% last year.
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Enterprises ranging from retailers to mines and bank headquarters will close for the former president’s funeral.
Adcock’s largest shareholder is looking for an all-cash offer of up to R74 a share in the takeover being battled out between Bidvest and Chile’s CFR.
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Rising import costs led to decreased profits and margins at Adcock, which has suspended its dividend while takeover talks with CFR continue.
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The pharmaceutical company Adcock’s biggest shareholder PIC says it has not yet made a decision about whether to support the takeover of CFR.
Markets have responded positively to Pick n Pay’s announcement that it has reduced costs and slowed down market share decline.
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Clothing retailer Edcon has posted a first-quarter loss in excess of R700mn as a result of operational disruptions and falling sales.
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Shoprite has reported profit that matched estimates as growing pressure on consumers’ disposable income held back sales in its domestic market.
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The JSE Securities Exchange South Africa (JSE) was essentially flat in early trade on Thursday, despite indications that it would open significantly down on the US market’s drop overnight and the stronger rand.
The advancement towards a cashless society took another step forward on Tuesday when petroleum giant BP, in partnership with Absa Bank, announced the introduction of an automated tag system which allows customers to refuel without the use of cash or a card and have their Absa account simultaneously debited.
The JSE Securities Exchange South Africa (JSE) continued to be pummeled by a considerably stronger local currency and global markets, which were down overnight. Gold stocks, by contrast, got off to a good start on the back of a higher bullion price.
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/ 18 February 2003
The JSE Securities Exchange SA opened a tad firmer on Tuesday in quiet trade. Gold stocks opened flat after posting big losses on Monday. With the US markets closed on Monday and the gold price and rand steady, there was little direction for the local bourse. US markets were closed on Monday for the Presidents Day Holiday.
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/ 7 February 2003
Controversy over the Zimbabwean and Kenyan 2003 World Cup Cricket matches has stolen the limelight in the build-up to event. Yet, economists believe the CWC will have a positive impact on the local currency.
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/ 22 January 2003
The JSE Securities Exchange South Africa (JSE) was seeing better volumes early on Wednesday with market interest in resources and gold on the back of a weaker rand and stronger gold price.
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/ 13 January 2003
Speculation over whether Johnnic Holdings (JNC) may dispose of its media assets continues to make the rounds, but the group’s chief operating officer, Jacob Modise, says it is all ‘nonsense’.
The JSE Securities Exchange ended the week in the black, regaining ground in the afternoon session. Better volumes were traded than on Thursday and the bourse was helped on by the higher gold price on the day.