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. | MTN faces new Nigeria headache as local unit probed over listing

MTN’s Nigeria listing is being investigated by local authorities, the latest in a series of disputes in the wireless carrier’s largest market. | The Tesla stock bubble has burst, sparking existential questions

For Elon Musk and Tesla, the blows from Wall Street came one after another this week - a relentless barrage that left the stock so beat up that some now wonder if it can ever regain its status as the ultimate 21st century disrupter. | Ascendis Health shares drop a day after firing CEO

In a brief update to shareholders late on Thursday, the group's board said its CEO Thomas Thomsen's contract had been terminated. | Old Mutual CEO in no mood to go quietly

Suspended by the board for conflicts of interest involving his investment firm NMT Capital, CEO Peter Moyo signalled he has no intention of going quietly. | Old Mutual suspended CEO in dispute over NMT Capital interest

Old Mutual suspended Chief Executive Officer Peter Moyo due to a disagreement over the handling of the relationship between the South African insurer and an investment company that he co-founded, according to a person familiar with the matter. | Old Mutual parts ways with CEO Moyo over 'conflict of interest'

The group said its decision to part ways with Moyo was in no way related to performance or financial misconduct | Old Mutual declines most on record after suspending CEO Moyo

Old Mutual shares fell the most on record after it suspended Chief Executive Officer Peter Moyo, before recovering to trade 1% down by mid-morning. | Old Mutual suspends its CEO Peter Moyo

In an email to staff, Old Mutual Chairperson Trevor Manuel wrote that Moyo's suspension is not related to performance, but 'as a result of a conflict of interest matter related to [Moyo's] personal interests'. | Musk's bullish email puts battered Tesla on roller-coaster ride

Even for oft-volatile Tesla, Thursday morning will go down as one of the more memorable roller-coaster rides. | Momentum pays out millions to families of murdered policy holders

Momentum said on Thursday that it had since paid out millions of rands to families of murdered policy holders whose claims were initially rejected. | Amazon is working on a device that can read human emotions

Amazon is developing a voice-activated wearable device that can recognise human emotions. | Facebook removes a record 2.2 billion fake accounts

Facebook said it removed 2.2 billion fake accounts in the first quarter, a record that shows how the company is battling an avalanche of bad actors trying to undermine the authenticity of the world’s largest social network. | Swatch joins burgers and coffee with drive-through for watches

The company that shook up Swiss watchmaking is looking to the fast-food industry for inspiration on how to spruce up retailing. | Walmart sends veteran to fix struggling South Africa business

Massmart Holdings fell the most in three months as the troubled South African retail chain warned on profit and majority shareholder Walmart sent one its own to help stem declines. | Steinhoff faces German mass investor action as court opens case

Shares in the embattled Stellenbosch-headquartered retailer fell 7% on news it is facing a mass investor lawsuit in Germany. | Tsogo Sun plans hotel listing on June 12

Tsogo Sun has announced more details on the unbundling of its hotel division. | PwC Southern Africa appoints Shirley Machaba as its first woman CEO

Machaba is taking over the reins from Dion Shango, who is set to become PwC Africa’s new head. | Brait flags drop in net asset value amid 'challenging' business environment

The investment holding company says its net asset value per share at March 31 2019 is expected to be between R40.75 and R42.75, a reduction of between 23.4% and 27.0% from a year ago. | Amazon facial recognition shareholder proposals are voted down

Shareholders also voted down a proposal submitted by employees that called on the company to detail its strategy for coping with climate change. | Airlines mum ahead of closed-door talks on Boeing's grounded Max

Executives from some of the world's largest airlines will gather for a private meeting Thursday to discuss Boeing's 737 Max at the same time global regulators convene as well.

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