Janice Kew
latest news & developments
African Bank receives offer for suspended preference shares
The holders of preference shares are at risk of losing their capital – but now there is an offer to acquire all of them.
The PIC favours platinum shares over gold
Despite tough times of late for South Africa’s platinum sector the Public Investment Corporation is betting on the precious metals’ comeback.
Richemont earnings growth ebbs on Chinese market slowdown
Richemont’s full year earnings have slowed in comparison with the last three years, as the Chinese government cracked down on spending by officials.
Pick n Pay to boost fresh goods sales as 100 new stores open
Pick n Pay is seeking to claw back market share with a focus on improving its fresh produce offering.
Massmart shares up as it anticipates an earnings gain
While other retailers battle with slow growth, Massmart has announced its earnings gained as much as 37% last year.
South African business to close for Mandela’s funeral
Enterprises ranging from retailers to mines and bank headquarters will close for the former president’s funeral.
Adcock’s biggest shareholder said to seek higher cash offer
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.
Adcock suspends its dividend as purchase talks with CFR go on
Rising import costs led to decreased profits and margins at Adcock, which has suspended its dividend while takeover talks with CFR continue.
PIC still mulling Adcock’s $1.3bn CFR deal
The pharmaceutical company Adcock’s biggest shareholder PIC says it has not yet made a decision about whether to support the takeover of CFR.
Pick n Pay shares gain most since 2008 as first-half profit rises
Markets have responded positively to Pick n Pay’s announcement that it has reduced costs and slowed down market share decline.
Edcon losses rise as store remodeling disrupts sales
Clothing retailer Edcon has posted a first-quarter loss in excess of R700mn as a result of operational disruptions and falling sales.
Shoprite’s growth slows on weaker consumer spending
Shoprite has reported profit that matched estimates as growing pressure on consumers’ disposable income held back sales in its domestic market.
JSE flat, but better than expected
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…
Absa joins BP in cashless refueling scheme
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…
JSE stumbles over stronger rand
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…