FIN 24 – Companies

FIN 24 – Companies

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News24’s breaking news wire service brings you the latest South African, African and international news reports and press updates from newsrooms across the country. | Lewis share price rallies nearly 8% on trading update

Furniture group Lewis reported sales growth of 6.9% for the third quarter of the year, mainly bolstered by Black Friday held in November. | You can keep flying SAA thanks to R3.5bn in funding - business rescue practitioners

The Development Bank of Southern Africa commits R3.5bn to SAA, business rescue practitioners have confirmed. | High Court dismisses former SAA chair Dudu Myeni's latest appeal bid

The start of a court case to have Myeni declared a delinquent director has been hobbled by a series of delays. | SAA may receive emergency funding from state bank

South African Airways could receive some of the funding needed to avert its collapse from the Development Bank of Southern Africa, a state-owned financier, two people familiar with the situation said. | Mobile operator Cell C defaults on interest payments for R2.7bn loan

Cell C has defaulted on the payment of interest for a R2.7bn loan, due in December 2019, as well as interest and capital repayments due in January 2020. | Moody's assigns Pepkor first-time rating as it considers raising funds in the bond market

The owner of PEP and Ackermans is looking to diversify its sources of funding. | Private schools group investigating CEO over governance 'concerns'

Owner of PLG Schools says it has placed CEO on temporary leave pending an investigation into various concerns | New plants, shafts yield promising gold volumes for Pan African Resources

The company said it is on track to deliver 185 000 ounces of gold for full-year 2020 as Elikhulu treatment plant almost doubles its production. | Tongaat Hulett says goodbye to more directors

The directors of JSE-listed sugar producer Tongaat Hulett have announced some more changes to the board. | Fastjet still to get lifeline beyond March 2020

Low-cost airline, Fastjet says it is yet to get funding meant to keep it afloat beyond March this year. | Investec to sell Limpopo, Rustenburg malls for R727m to invest abroad

Investec Property Fund announced on Monday that it plans on selling all its shares in two South African malls, with the aim of investing the proceeds in Europe and the UK. | Net1 to sell Korean payment solutions provider for R3.4bn

Payment solutions provider, Net1, plans to sell a Korean business for $237m. | No more delays, pleads lawyer, as Dudu Myeni seeks leave to appeal - again

A lawyer representing the Organisation Undoing Tax Abuse in a case to have former SAA board chairperson Dudu Myeni declared a delinquent director on Monday pleaded with the court to proceed, as Myeni made yet another application that could stall it. | High stakes for Discovery Life as Vitality rewards change

The Discovery Life business heavily integrated with Vitality with over 80% of its customers also members of the reward programme. | Fail to act on climate change and you're fired, says R570bn pension fund

A £30bn (R570bn) UK pension fund has threatened to fire managers that fail to curb their exposure to climate change and position for a low-carbon economy. | Load shedding, bad weather hit Woolworths sales

Its Australian business also saw lower sales. | Sasol to list on secondary A2X exchange

The global chemicals and energy company is set to list on the secondary A2X exchange in early February. | Govt and Prasa working on a plan, says Autopax on partial salaries

Autopax – the bus subsidiary of Prasa, which operates Translux and City to City – says government is "working on a plan" following an announcement that staff would only be paid half their salaries for January. | How AI helped automated car insurer Naked Insurance take on home cover too

Naked Insurance, the automated insurer famous for allowing consumers to pause their cover, is branching into home insurance. It spent the past 20 months selling only motor insurance. | Old Mutual's Futuregrowth to boost its black ownership

Futuregrowth Asset Management, the Old Mutual fixed-income unit, said it plans to boost the proportion of the R185bn fund manager owned by black South Africans.

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