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 | Absa investors approve non-binding climate change resolution

Absa shareholders have agreed that the bank must include in next year's reporting an assessment of its exposure to climate change risk in its lending portfolios.

Fin24.com | SA farmers turn to commercial banks as Land Bank stalls

Land Bank, which supplies about 30% of loans in the agricultural industry, missed a loan repayment in April that triggered a cross-default provision in some of its bonds.

Fin24.com | FIN24 SPEAKS | Anglo American execs on how Covid-19 will affect SA's mining industry

editor Ron Derby speaks to the CEOs of Kumba Iron Ore, Anglo Coal and De Beers SA about the impact of the pandemic as thousands of miners return to work.

Fin24.com | Coronavirus intensifying banking competition on price

Digital first entrants such as TymeBank and Discovery Bank have positioned themselves as the cheapest option in customers’ minds as FNB announces monthly account fees will remain unchanged for the year.

Fin24.com | New PIC head Abel Sithole's long to-do list from workers and business

Workers expect Sithole to prioritise their issues, while the business community wants him to accelerate transformation in the JSE and push its developmental mandate more.

Fin24.com | Oppenheimer, Cisco-backed Harambe raises $1 million for African tech startups

Harambe Entrepreneur Alliance, whose backers include Cisco Systems and a foundation of Jonathan Oppenheimer, raised $1 million for African tech startups needing capital.

Fin24.com | Sipho Pityana appointed as Absa lead independent director

Pityana will replace Mohamed Husain who had served as the lead independent since 2018 as he's due to retire on Thursday, 4 June 2020.

Fin24.com | Amplats processing unit shut down again after water leak

The platinum producer said on Wednesday a water leak had been detected in the high-pressure cooling section of the Anglo Converter Plant Phase B unit.

Fin24.com | Google takes down software to remove Chinese apps

Google has removed from its Play Store an Indian mobile app designed to detect and delete Chinese software from smartphones.

Fin24.com | Sipho Kings appointed acting editor-in-chief of Mail & Guardian

Sipho Kings, who has been news editor at the paper and reported extensively on environmental matters, says the new role is both "daunting" and "incredibly exciting".

Fin24.com | Open more airports, routes if SA airlines are to survive - industry body

The chances of airlines surviving the impact of the coronavirus flight bans will depend on how soon more airports and more routes open up, says an industry body.

Fin24.com | Sasol shares briefly rally on stronger oil price before paring gains

After coming under pressure from the combined effects of weaker oil prices and the global impact of Covid-19, shares in the petrochemical firm briefly rose by 14%.

Fin24.com | Tobacco giant argues cigarette ban harms 'emotional wellbeing' of smokers

British American Tobacco intends to argue that tobacco and vaping products are 'similar to coffee in the ways they are experienced and used by consumers'.

Fin24.com | Facebook’s Zuckerberg defends Trump post decisions to staff

Facebook CEO Mark Zuckerberg told staff at a companywide meeting that he won’t change his mind about a decision to leave up posts shared by the US president.

Fin24.com | Comair creditors, employees glimpse proposed rescue plan

In terms of a proposed restructuring plan, it is likely that the existing shareholder base of Comair will be substantially diluted, according to its business rescue practitioners.

Fin24.com | Restructure, possible job cuts at Pam Golding as real estate on 'brink of collapse'

CEO of the Pam Golding Property Group, Andrew Golding, said the housing market had changed 'irrevocably' and was expected to remain under 'significant pressure'.

Fin24.com | Nedbank, Rand Merchant Bank join 28 banks charged with rand manipulation

The case against local and international banks for colluding to fix prices dates back to 2015. New charges detail the cartel's alleged operations and effects.

Fin24.com | Mediclinic: Only 5% of our beds occupied by Covid-19 patients

Mediclinic International says its ICU beds its in South Africa are largely occupied by people brought in for other emergencies.

Fin24.com | Avis Budget Rent-a-Car retrenchment consultations to impact nearly half of employees

A total of 978 employees of Avis Budget Rent-a-Car, part of Barloworld Group, will be affected by retrenchment consultations, according to an internal memo seen by Fin24.

Fin24.com | Nelisiwe Magubane appointed new chairperson of Strategic Fuel Fund

Magubane served as director general for the Department of Energy between 2009 and 2014.

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