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.

Fin24.com | Old Mutual director resigns as fight over Moyo drags on

In an apparent blow to chairman Trevor Manual, Old Mutual director Nombulelo Pinky Moholi has resigned with immediate effect.

Fin24.com | New Sandton skyscraper is the tallest building in Africa - it offers a view of Magaliesberg

Africa’s tallest building is set to open next month.

Fin24.com | Cell C now valued at zero

Cell C's major equity holders Blue Label Telecoms and Net1 have both placed the fair value of the mobile operator at zero.

Fin24.com | Cell C is bleeding money, pushing Blue Label deep into the red

Blue Label gave a preview of its long-awaited results.

Fin24.com | 10-year-old wire cartel case settled, millions in penalties

After a full decade and several legal challenges – including in the Supreme Court of Appeal – the Competition Tribunal this week approved settlement agreements between the Competition Commission and two wire products manufacturers accused of cartel conduct.

Fin24.com | Footgear gets go-ahead to buy Edgars Active

The Competition Tribunal has approved a merger which will see Edcon selling the Edgars Active and High Key chain stores to Footgear, in which Old Mutual has a majority stake.

Fin24.com | EXPLAINER: Why you should care that parts of RICA are unlawful

Legal experts unpack the latest high court ruling which declared parts of RICA unconstitutional.

Fin24.com | Christo Wiese's plan for Virgin Active owner: Get rid of bosses, assets

South African businessman Christo Wiese is part of a shareholder group proposing investment company Brait SE raise R3 billion in a share sale and dispose of all assets except gym-chain Virgin Active.

Fin24.com | Legal battle over Tshwane broadband intensifies

Altron is heading to the Supreme Court of Appeal.

Fin24.com | Mr Price cites financial exposure of up to R20m in misconduct probe

The retailer is conducting a probe into allegations of non-compliance between two senior staff members and a supplier.

Fin24.com | A new hemp farming deal saw shares in this tiny solar company surge 77%

SPI Energy, a little-known Chinese solar company, was the biggest gainer in the Nasdaq Composite Index Wednesday after announcing it was breaking into a new market: US hemp farming.

Fin24.com | British Airways pilots call off second strike to avoid 'irreparable damage'

British Airways pilots scrapped a planned one-day walkout scheduled for later this month to pursue “meaningful new discussions” as the union sought to end a deadlock over wages.

Fin24.com | Huawei dangles nearly R22bn in hunt for global developers

Huawei is offering nearly R22bn to partners willing to build software for its future chip and computing platforms, courting developers worldwide at a time the US is heightening scrutiny of the Chinese tech giant.

Fin24.com | Ahead of its planned Israeli takeover, Clover cuts job losses

Clover has cut down the number of jobs which would be lost as a results of its consolidation plan, while the company is pursuing a R4.8bn merger with Milco SA.

Fin24.com | Why the fake meat market could reach R3.5trn in 20 years

The alternative meat market is poised to rise to R3.5trn over the next two decades as new technologies gain ground and consumers change their diets.

Fin24.com | Taking away incentives will hit SA auto sector hard, industry body warns

The National Association of Automobile Manufacturers of South Africa has raised concerns that reducing rebates on excise duties will negatively impact the competitiveness of the auto industry.

Fin24.com | SAA to get R5.5bn capital injection by end September

SAA says that the R5.5bn recapitalisation approved by Treasury for the 2019/20 financial year is set to be transferred by September 30.

Fin24.com | More medical scheme pain: Bonitas joins Discovery with hefty price hike

On average, monthly contributions for Bonitas will increase by 9.9%.

Fin24.com | Sasol said to plan sale of its SA coal mining unit

The mining business had turnover of R20bn in the 2018 financial year.

Fin24.com | Idle staff spend their days watching TV while Alexkor is in crisis, Parliament hears

The state-owned diamond company will run out of money by October.

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