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TikTok founder Zhang Yiming now among the world’s richest people
Just last year, the world’s most valuable start-up, ByteDance, was being squeezed from all sides. The Trump administration wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets. Beijing was cracking down on tech businesses, and India had blacklisted some of its social media apps. For all the obstacles, ByteDance
Absa closes money market fund
In a nondescript letter dated April 7, Absa informed investors in its Absa Money Market Fund (AMMF) that it is closing down the fund worth R75.47 billion. Absa said the unit trust fund, which has been operating since 1997, would be wound up in terms of Section 102 of the Collective Investment Schemes Control Act
Intel to start making chips for car companies
Intel could start producing in-demand semiconductors for car companies within six to nine months, CEO Pat Gelsinger said in an interview with Reuters, commenting that the chipmaking is already being discussed with companies that design chips for cars. “We’re hoping that some of these things can be alleviated, not requiring a three- or four-year factory
Google Shopping is going out of business
Google is shutting down its mobile Shopping apps for both iOS and Android and directing users to its web Shopping site instead, 9to5 Google reported. On Friday, Xda Developers discovered that the term “sunset” had been added to several strings of code in the Shopping app, suggesting the apps were being discontinued. A Google spokesperson
Telcos gear up to secure new wave of 5G networks
Telcos will implement a wide array of measures in 2021 to secure the next wave of 5G connectivity, according to a global survey of service provider employees by Heavy Reading1. As operators begin to rollout standalone 5G networks, they are moving swiftly to secure core network configuration services, such as slice management, which enable 5G operators to provide highly customized connectivity. By the end of 2021, 71% of
Microsoft to buy Nuance Communications
The software giant is set to buy Nuance Communications, tapping the company tied to the Siri voice technology to overhaul solutions that free doctors from note-taking and better predict a patient’s needs. Microsoft may announce the deal as soon as Monday if talks are successful, according to people familiar with the matter. The price being
Exxaro Coal Central sold to privately owned BEE company
Exxaro Coal Central has been sold to privately owned BEE company Overlooked for an undisclosed sum. Exxaro is selling some of its coal assets to a black economic empowerment group as it optimises its current coal operations and projects. The disposal of Exxaro Coal Central (ECC) follows an internal portfolio review. The resources group said
Nigerian banks are not indebted to MTN Nigeria, says bank CEO
Nigerian banks are not indebted to MTN Nigeria and other phone companies for using telecommunication platforms to provide payment services, a bank chief executive said. “There is no such thing as an obligation due from banks to telcos,” Herbert Wigwe, chief executive officer of Access Bank Plc, said on an investor call in Lagos. “We
South Africa takes another $1bn Brics Bank loan
The New Development Bank approved a $1 billion emergency loan for South Africa to support government efforts to contain the economic impact of the coronavirus pandemic. The funds will help finance the creation of employment opportunities, particularly under the Presidential Employment Stimulus program that aims to create and support about 700 000 jobs in the
Thungela Resources to acquire some of SA’s best quality coal assets
ANGLO American recently unveiled details of a plan to demerge its South African thermal coal export assets – to be named Thungela Resources – into which it will inject R2.5bn in cash ahead of its primary listing on the Johannesburg Stock Exchange.. Should the proposed demerger be approved by 75% of Anglo American shareholders, its
Personal info from 533 million Facebook accounts have leaked online
You might still be reeling from the news that personal information from 533 million Facebook accounts has been made freely available online. But now there’s another huge batch of people’s data floating around the web — including data from LinkedIn, the Microsoft-owned social network confirmed. And the potential scope of the leak is huge: an
Pick n Pay loses billions due to alcohol ban
Pick n Pay says it lost an estimated R4-billion in sales last year due to restrictions on the sales of alcohol, tobacco and other products. But the supermarket group says its core food and grocery business still grew sales by 10% despite the impact of Covid-19 lockdowns. In a trading and earnings update, the retailer
LG promises three years of Android updates despite exiting phone business
LG has announced a pledge to issue future Android OS updates to many of its smartphones despite confirming earlier this week that it’ll be leaving the phone business altogether. The Velvet, Wing, and G- and V- series phones from 2019 or later should be getting three Android updates from their year of release, and “certain
"Temporary" shortage of tomatoes in South Africa causes a huge dent in consumer pockets
Some South Africans are speaking about a shortage of tomatoes. Other people say they can't find cauliflowers. Tomato producer ZZ2 has confirmed that there is indeed a temporary shortage of tomatoes and other vegetables. ZZ2 marketing manager Clive Garrett: “Tomatoes need a lot of water. They love water but they don't like rain. In dry
Absa launches cloud skills incubator with AWS
Absa Group said on Thursday that it is launching a skills incubator in partnership with Amazon Web Services to train employees in cloud computing skills. The “AWS Skills Guild” agreement is the first such initiative in Africa, the banking giant said in a statement. Skills training will take place across Absa’s operations on the continent. “As
Global chip shortage hits iPad and MacBook production
Production of some of Apple’s MacBooks and iPads has been postponed due to a global component shortage, the Nikkei reported on Thursday. Chip shortages have caused delays in a key step in MacBook production, the report said, adding that some iPad assembly was postponed because of a shortage of displays and display components. As a result of the
Rectron expands point of sale offering with Newland ID
Rectron (PTY) Ltd, one of South Africa’s leading distributors of IT products, continues to strengthen its enterprise offering with the addition of Newland ID, a manufacturer of barcode scanners, to its portfolio. In the agreement, Rectron will be distributing the full Newland ID range, comprising (wireless) handheld scanners, stationary scanners, mobile computers, tablets, micro kiosks, and OEM
Nigerian fintech launches feature to empower SMEs in region
Uzoma Dozie, founder and CEO of Sparkle explains that the launch of the new feature is integral to supporting SMEs in the region. “SMEs are the largest employer of labour in Nigeria but are lacking access to basic services that will help their businesses. We have introduced Sparkle Business as a one-stop-shop, to help individuals
Joining hands with businesses to scale up climate conscious agriculture
Why implementing a systems-wide approach and boosting private sector engagement in agriculture and land-use is part of the climate solution. While responsible for two thirds of global agricultural GDP (Gross Domestic Product), Asian agriculture is one of the most vulnerable economic sectors in the world to climate change. With its diverse landscape and livelihoods, sheepherders
Google AI manager Samy Bengio resigns
A Google researcher manager has resigned following the controversial firings of two female leaders in his organization. Samy Bengio, who oversaw the ethical AI team prior to a reorganization in February, is leaving to pursue other opportunities, according to Bloomberg. His last day will be April 28th. Bengio was a strong advocate of star AI