Latest news and views in Brief
May 12 (Reuters) – Facebook Inc plans to open a sales office in China to work with local advertisers, Bloomberg reported, citing people familiar with the matter. The world’s largest social networking company is in talks to lease space in the Fortune Financial Center in Beijing’s central business district, Bloomberg said, citing the sources. Facebook could open an office in China within … Read more
By Sonali Paul MELBOURNE, May 13 (Reuters) – Â Rusal narrowed its loss from the previous quarter even as aluminium prices sank to five-year lows, which analysts said was a good sign that earnings may be near the bottom. “Sequentially it’s a major improvement on reducing the net loss. That to me is much more significant … Read more
By Randy Fabi and Euan Rocha JAKARTA/TORONTO, May 13 (Reuters) – BlackBerry Ltd launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled smartphone maker looks to revive sales in emerging markets like Indonesia where its once-fervent following has shrivelled. The handset, to be presented at a glitzy launch event in the Indonesian capital on Tuesday, is the … Read more
By Ed Stoddard JOHANNESBURG (Reuters) – Two Lonmin workers were killed on Monday in South Africa as they reported for work at their strike-hit platinum mine, a mineworkers union said, threatening the firm’s plans to end the walkout this week. Lonmin chief executive Ben Magara confirmed one employee was killed in what he called a “a very sad … Read more
* Swiss to vote on proposed minimum wage on May 18 * Follows votes to curb immigration, executive pay * Poll shows 64 pct reject the measure * Some firms have hiked low salaries ahead of vote By Silke Koltrowitz ZURICH, May 12 (Reuters) – Swiss business leaders shocked by past popular votes to cap … Read more
Arrowhead Properties has released its interim results. The company, established through an unbundling of a portfolio of 98 properties from Redefine Properties, has a current market cap of, R2.32bn, and is trading down 6.13% down on the year. Here are the highlights from the release: Distribution of 32,38 cents (2013-28,04 cents) for the quarter ended 31 March … Read more
CAPE TOWN (Reuters) – British businessman Shrien Dewani, who was extradited to South Africa to face charges of planning the murder of his bride while on honeymoon in 2010, appeared briefly in court on Monday pending a trial date for his case. Dewani, who is being treated for post-traumatic stress and depression after the killing of his Swedish … Read more
Lonmin Plc (LON) has released its interim results for the period ended 31 March 2014, with tangible evidence of the dire impact of the ongoing platinum strike. Lonmin expects a mass return to work on Wednesday. Here are the highlights from the SENS report: Minimal operations during the striking period – 3.2 million tonnes produced, … Read more
By Silvia Antonioli LONDON (Reuters) – Platinum miner Lonmin said on Monday restructuring and job cuts were inevitable as it posted a steep fall in six-month earnings, suffering fromSouth Africa’s longest and most costly labour stoppage. The pay dispute in the world’s top platinum producing country has cut 40 percent of global production and halted operations at Lonmin’s … Read more
JOHANNESBURG (Reuters) – South Africa’s Sappi Ltd said on Monday it swung back to profit in its second quarter on higher sales volumes and prices and increased productivity in its operations, pushing its shares up. Sappi, the world’s largest maker of fine paper used in glossy magazines, reported that diluted headline earnings per share totalled … Read more