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50 large companies in South Africa commit to paying SMEs faster
In excess of 50 large companies in South Africa have formally committed to paying their small and medium sized businesses (SMEs) suppliers within a 30 day period, as part of an effort to ensure SMEs survive the economic crisis. The initiative is spearheaded by Business for South Africa (B4SA), the SA SME Fund, and Business
Google’s latest Chrome update delivers ‘largest performance gain in years’
Google is wrapping up 2020 with what it claims are major performance enhancements to the company’s Google Chrome browser. “This month’s update represents the largest gain in Chrome performance in years,” Matt Waddell, Chrome’s director of product, wrote in a blog post. Sounds pretty exciting on the surface, no? Waddell says a slew of under-the-hood
President Trump has fired the official in charge of election cybersecurity
President Donald Trump announced the firing of the official in charge of election cybersecurity, Christopher Krebs, in a Tuesday evening tweet. Before his firing, Krebs served as the first director of the Department of Homeland Security’s (DHS) Cybersecurity and Infrastructure Security Agency (CISA). In response to being fired, Krebs tweeted “Honored to serve. We did it right. Defend
FNB records a rise in the use of Cash@Till withdrawals
FNB expects consumers to increasingly use Cash@Till™ services to meet cash related needs in a convenient and cost-effective manner. In the last financial year, the Bank’s Retail customers withdrew in excess of R14 billion via Cash@Till™ at Shoprite, Checkers, Pick n Pay, selected Spar, Boxer and Usave stores. Following the announcement of the national lockdown, Cash@Till™ volumes increased
WBHO swings to full-year loss
On top of Covid-19, the construction group has faced increased losses in Australia as it prepares to scale down its business there. Wilson Bayly Holmes-Ovcon (WBHO) has swung to a full-year loss after Covid-19 added to an already difficult environment. The construction group says last year was one of the most challenging in its 50-year
Raubex rallies on contract awards
The construction and road building company says it is well positioned to participate in infrastructure projects announced by the government. Raubex's shares gained as much as 13% yesterday after it said it won two SANRAL contracts worth R2.87 billion. The contracts with the national roads agency are to upgrade a section of the N2 from
Engen celebrates 10th consecutive year as SA’s favourite petrol station
Over the course of the national lockdown, Engen also provided food relief to the south Durban community, distributing 5,000 food hampers in the area where the Engen refinery is located, and 7,000 food parcels in Diepsloot, Tembisa and Alexandra in Gauteng. “Engen hopes to help raise awareness about the plight of the marginalised and vulnerable
Novus impacted by magazine closures
The printing and packaging group has taken steps to right-size its business, with the benefits expected next year and beyond. Novus Holdings has reported a big drop in earnings after the Covid-19 lockdown resulted in magazines closing down and a sharp decline in demand for beverage labels due to the prohibition on alcohol sales. However,
Huawei CFO witness testimony to resume in Canada in U.S. extradition case
Witness cross-examination in the U.S. extradition case of Huawei Chief Financial Officer Meng Wanzhou will resume in a Canadian court on Monday where Meng’s lawyers are trying to establish that her rights were violated during the events leading up to her arrest. Meng, 48, was arrested in December 2018 at Vancouver International Airport by Canadian
Tsogo Sun forecasts a slow recovery
The hotel operator, which is buying out Hospitality Property Fund, says uncertainty and the weak economy will continue to weigh on the sector. Tsogo Sun Hotels says its interim results clearly reflect the devastating impact that Covid-19 and the accompanying lockdown regulations have had on the hospitality industry in general and it in particular. Despite
Struggling consumers need better information about their options
Debt counselling is an effective way of helping South Africans who are struggling with debt, but a lack of understanding about the process, misinformation, and concerns about being stigmatised mean some consumers don’t seek help or leave it too late. To address the problem the National Debt Counsellors’ Association (NDCA), which counts among its members
Anchor to be cast off from JSE
The stockbroker, fund management and private client business says delisting will level the playing field with competitors. Anchor Group plans to buy out minority shareholders and delist from the JSE and A2X Markets in a move it says will level the playing field with its unlisted competitors. If its proposed scheme of arrangement is successful,
Zoom to lift 40-minute meeting limit on Thanksgiving for longer family hangouts
Zoom said earlier this week it would lift its standard 40-minute limit on free video chats for Thanksgiving Day to make it easier to spend time with friends and family virtually on the US holiday. Given spikes in COVID-19 cases nationwide and various new and existing restrictions on interstate travel, this year’s Thanksgiving will be
MultiChoice tops 20 million households
Growth in subscribers and a lid on costs helped the video entertainment group grow first-half earnings as advertising came under pressure. MultiChoice has reported a strong rise in first-half earnings after rising subscriber numbers and lower forex losses helped compensate for a decline in advertising during the Covid-19 lockdown. Its results coincided with the launch
Nintendo switch remains the bestselling console
The Nintendo switch remains the bestselling console, beating the PS5 and Xbox Series X. Their different approach to the gaming landscape has set them apart and the sales of the Nintendo Switch bear witness to that. In its lifetime, the Nintendo has now surpassed 68.3 million units sold. This already puts it past the total
Standard Bank introduces contactless payments across Africa
Africa’s largest financial services organisation by assets, Standard Bank Group, is driving the contactless payments across Africa, as consumers look for safer ways to pay in the wake of COVID-19. “The pandemic has created heightened concern among consumers on cash usage, with many increasingly recognising contactless as a safer, cleaner and faster way to pay,
Kulula is set to resume flights on the 1st of December 2020
Kulula is set to join Safair in offering domestic flights during the festive period, but SAA is yet to decide when its flights will resume. This comes right after SAA and the owner of Kulula, Comair secured funding in their respective business rescue progressions. Comair has reopened bookings for all flights ahead of 1 December
Afrox prepares for Linde buyout vote
Afrox shareholders will be asked next month to vote on the proposed buyout by parent company Linde, which is likely to result in it being delisted from the JSE. The gases and equipment group sent the offer circular to shareholders yesterday following last month's proposal by Linde. It is offering Afrox shareholders R21.18 per share,
Growthpoint sells shares to trim debt
Growthpoint Properties plans to raise about R4 billion through the issue of new shares so it can pay down debt. Due to the ongoing impact of Covid-19 it wants to reduce its leverage and maintain a strong balance sheet and also have the flexibility to have cash for development and investment activities. The real estate
Gold Fields settles into new normal
The two mines most affected by Covid-19, South Deep and Cerro Corona,Gold Fields settles into new normal have shown a strong recovery. Gold Fields says its mines in SA and Peru bounced back in the three months ended September after they were severely disrupted by lockdowns during the previous quarter. The gold mining company says