Latest news and views in Brief
Investec CEO Stephen Koseff told me today that the proposed sale of Kensington was part of the banking group’s decision to simplify its business: “We got a good lesson in the Crisis and are determined to simplify our business.” He admitted the timing of the purchase of the sub prime lending business was “very bad – … Read more
From Reuters JOHANNESBURG (Reuters) – Toyota is to invest 1 billion rand in production of its Corolla model in South Africa, giving a vote of confidence to the local auto sector after strikes last year led some to reconsider investment in the country. Wage-related stoppages in 2013 prompted BMW to say it was freezing expansion plans in the country … Read more
From SAPAConfusion reigned on Tuesday about an alleged international mystery donor being behind the DA and Agang SA merger talks. Democratic Alliance leader Helen Zille told John Robbie on Talk Radio 702 that she would never be part of such a deal, but then said she knew who the donor was. “Well I was certainly … Read more
From SAPA SA shale exploration rules set for release soon Government will move ahead “decisively, yet responsibly” with exploring for shale gas, Mineral Resources Minister Susan Shabangu said on Tuesday. Speaking at the official opening of the Investing in African Mining Indaba in Cape Town, she said final regulations in this regard would be … Read more
LONDON, Feb 3 (Reuters) – Barclays Chief Executive Antony Jenkins has turned down his 2013 bonus, saying it would be inappropriate given the bank’s hefty bill to pay for past problems and its need to call on investors for cash. Jenkins could have received a bonus of up to 2.7 million pounds ($4.4 million). It is the … Read more
From SAPA Nelson Mandela’s will: Winnie gets nothing Former president Nelson Mandela’s ex-wife Winnie Madikizela-Mandela has been left out of the will of the former statesman. Madikizela-Mandela was Mandela’s second wife. They divorced in 1996 after 38 years of marriage. Madikizela-Mandela reportedly wanted a R20 million divorce settlement, which she said was half of Mandela’s … Read more
From SAPA The halving of mobile phone termination rates will hurt MTN and Vodacom but benefit smaller operators, Moody’s said on Monday. Vodacom will be hardest hit because it had the biggest share of the South African mobile telecommunications market, with 47 percent, and the bulk of its cashflow came from South Africa, the ratings … Read more
From Reuters Investigators and firefighters stand in front of a wreckage of a twin propeller airplane at South Africa’s Lanseria airport outside Johannesburg February 3, 2014. Three people were killed after a twin propeller airplane crashed trying to land at South Africa’s Lanseria airport on Monday morning, the airport chief executive said. The plane, aBeechcraft King Air 90, was carrying one passenger … Read more
From SAPAPrisoners will this week register to vote in the upcoming general elections, correctional services spokesman Logan Maistry said on Monday. The prisoners could register from Wednesday until Friday nationally, Maistry said. A total of 241 correctional services centres in the county had been working with the Independent Electoral Commission to ensure the facilities were … Read more
From SAPA If the rand’s depreciation continued unchecked, a petrol price of R16 per litre was possible in the medium-term, the Automobile Association said on Monday. “On December 27, a dollar cost R10.35. By January 27 it cost R11.20. “Meanwhile, international petroleum prices have ticked up slightly since our last review of fuel price trends … Read more