Judgment has been reserved in an appeal case by organisations against a decision to deny them a class action lawsuit against major bread companies.
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/ 17 December 2010
It may no longer be business as usual for South African companies operating in Zimbabwe.
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/ 5 November 2010
The market is unfazed by Pioneer Foods’s R1-billion fine, with Pioneer’s share price hitting a 52-week high.
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/ 2 November 2010
Pioneer Foods was told it has to reduce the sale price of bread and flour products as part of a R1,05-billion settlement for price-fixing.
Tiger Brands on Tuesday reported a 7% rise in first-half headline earnings and said it expects profit for the full year to rise.
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/ 1 September 2009
Tiger Brands said on Tuesday it plans to open up an additional 10% of its shares to black shareholders to boost black ownership in the group.
Tiger Brands has reported an 8% rise in first-half headline earnings per share (EPS) from continuing operations.
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/ 25 November 2008
Tiger Brands posted a 36% rise in full-year headline earnings per share from continuing operations and forecast real profit growth in the year ahead.
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/ 18 November 2008
Coronation Fund Managers, a major shareholder in AVI, has agreed to back any takeover bid for the consumer goods firm by Tiger Brands, it says.
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/ 17 November 2008
The country’s second-largest food company, AVI, is not in talks with Tiger Brands, the largest food company in South Africa.
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/ 17 November 2008
Tiger Brands may make an R8-billion cash-and-shares offer for AVI to create a South African food and consumer goods heavyweight.
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/ 31 October 2008
Tiger Brands will facilitate the largest empowerment deal so far in the country’s fishing industry, the food company said on Friday.
Executives are walking away with millions for keeping quiet. Lloyd Gedye reports.
Shareholders of Tiger Brands on Thursday approved resolutions that will give rise to the separate listing and unbundling of Adcock Ingram Holdings.
The recent National Anti-Corruption Summit supported moves to make price-fixing a crime — despite opposition from the Competition Commission.
If the competition authorities get their way, fines for price colluding could be crippling, writes Lloyd Gedye.
But not everyone is impressed with this eco-friendly gesture, writes Surika van Schalkwyk.
Tiger Brands said on Monday it had reached agreement to sell 50% plus one share of its unit Adcock Ingram Critical Care to Baxter Healthcare.
How Tiger Brand bosses bailed out while selling R44-million in shares.
During a consent order hearing at the Competition Tribunal last week the Department of Health announced that it had launched an audit to determine how much it had been overcharged by the drug companies involved in the cartel.
South African stocks were sharply lower at noon on Wednesday, weighed by miners on falling metal prices and banks after worse-than-expected inflation data.
At noon, the all-share index tumbled 1,26%. Resources fell 2,14%, the gold and platinum mining indices gave up 2,42% and 2,78% respectively.
The JSE was taking a breather on Tuesday after its recent strong rally, which took the bourse to successive record highs, as some profit-taking set in. However, earlier the all-share index hit yet another fresh record high when it touched 33 263,148. At noon, the JSE’s all-share index was down 0,88%.
Tiger Brands is starting a company-wide review to ensure there is no more anti-competitive behaviour after cartels in the healthcare and bread and milling sectors were recently exposed, CEO Peter Matlare said on Friday. ”We are cleaning house. We are going door-to-door and cupboard-to-cupboard,” Matlare told reporters in Johannesburg.
Adcock Ingram Critical Care, a healthcare unit of JSE-listed Tiger Brands, has been fined R53,5-million, or 8% of its annual turnover, for admitting its role in fixing the prices of medicines supplied to hospitals, the local anti-trust authorities said on Friday. The matter was referred to the Competition Tribunal on February 11 2008.
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/ 18 February 2008
South African stocks were sharply higher at midday on Monday led by banks ahead of Absa’s year-end earnings, while stronger overseas markets and firm metal prices spurred broad-based gains, traders said. By noon, the broader all-share index had gained 1,27% to 28 867,61, lifted mainly by a 2,36% gain in banks.
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/ 12 February 2008
Tiger Brands has appointed Peter Matlare as its new CEO from April 1, the company announced on Tuesday. ”We believe he will bring a diverse set of skills and leadership abilities to Tiger Brands,” Tiger Brands’s non-executive chairperson Lex van Vught said in a statement.
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/ 30 January 2008
Prosecution procedures into alleged price-fixing by certain South African milk producers will begin next week, the Competition Commission said on Tuesday. Eight dairy companies investigated for alleged price-fixing will be involved in pre-hearings next week, said the commission’s head of enforcements and exemption.
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/ 16 January 2008
The South African competition watchdog the Competition Commission on Wednesday slammed bread price increases, saying the ”blatant profiteering is an insult to the nation”. Bread maker Tiger Brands on Monday implemented price increases on its Albany bread brand.
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/ 7 December 2007
Tiger Brands chief executive Nick Dennis has advised the company’s board of directors that he intended to take early retirement. He would also resign as a director of the company with effect from the conclusion of the annual general meeting of shareholders, scheduled for February 19 2008.
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/ 14 November 2007
Tiger Consumer Brands, which owns Albany Bread, did not profit from the fixing of the price of bread, the company said on Tuesday. "The company did not benefit from the price-fixing. I don’t know who did, but we did not," said spokesperson Jimmy Manyi.
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/ 19 October 2007
The JSE rose modestly at midday on Friday, helped by miners amid soaring metal prices with investors unfazed by talks that Wall Street was poised to open lower. At noon, the all-share index was up 0,61%. Resources gained 1,09% and the gold-mining and platinum-mining indices were up 1,14% and 0,81% respectively.
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/ 25 September 2007
The JSE had given up most of its early gains by midday on Tuesday, but was still in positive territory as resources and the platinum mining index tried to lift the local bourse. By noon, the JSE’s all-share index had added 0,18%. The platinum mining index had firmed 1,93% and resources rose 0,69%.