Sun International to cut 2,300 jobs; Mashaba launches Action SA; RCL Foods; ICA
Casino and hotel company Sun International plans to retrench 2,300 employees in SA, a move that could save up to R280m in employment costs.
Casino and hotel company Sun International plans to retrench 2,300 employees in SA, a move that could save up to R280m in employment costs.
RCL says a circular to shareholders seeking their approval for a repurchase of shares has been delayed due to the continued lockdown on postal services.
RCL Foods says an improvement in its sugar business helped drive a rise in underlying profit in the first half of its financial year.
Amid power outages of as long as 18 hours a day, Econet Wireless, Zimbabwe’s biggest mobile-phone operator, is turning to the Elon Musk’s Tesla for batteries that can keep its base stations running.
RCL Foods has swung to a full-year loss after problems at its Sugar and Chicken operations negated strong results from its groceries business.
AngloGold Ashanti yesterday announced that it is in the early stages of a process to sell Mponeng, the last mine it owns in South Africa.
Leading stocks upwards on the jSE were major food producers RCL Foods and the Pioneer Foods group. The share prices of both companies rose about 2.5%.
RCL Foods says the local market has been flooded with imports of chicken, mainly from Brazil and America, leading to oversupply.
Witness the misguided tariff-calculating team at Eskom, whose business is feeling the pinch after sales of electricity have fallen in five of the last six years.
Executives at RCL Foods must have debated long and hard before deciding to embark on their own version of radical transformation.