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Encouraging support as MC Mining receives funding
The company is making progress in securing the balance of Phase 1 funding for its Makhado Project following lockdown delays. MC Mining has secured more funding for its flagship Makhado hard coking coal project in a deal that it says shows encouraging support. Columbia Skies Holdings (CSH), a company owned by black industrialist Pitso Madibo,
C&R halts dividend distributions as earnings tumble
The shopping centre owner, C&R says it will not resume dividends until market circumstances improve. C&R owns seven shopping centres, mostly around London. It said its local community strategy, focused on providing non-discretionary, essential goods and services, helped mitigate the impact on a relative basis. Last December, Growthpoint bought a 51% stake in the group
Another petrol bombing as EFF continues to close down Clicks
The Economic Freedom Fighters (EFF) continue their blockage on Clicks outlets around the country as per their promise, while another store has been confirmed to have been the victim of a petrol bombing. The Clicks store at the Cycad Shopping Centre in Polokwane, Limpopo, fell victim of being petrol bombed at some stage on Monday
LG confirms Wing is the name of its new smartphone
LG has confirmed its upcoming phone will be called Wing (the Wing?) and will be revealed at its announcement event on September 14th. The device is believed to have two screens in a swiveling form factor, with a recent teaser video showing what looks like a sliding mechanism that can rotate into a T shape.
Tech stocks slide as Wall Street goes into reverse
US and Asian stock markets have gone into reverse after shares in America's biggest technology firms tumbled. Companies that have powered US markets to record highs – Apple, Amazon, Alphabet, Microsoft and Facebook – fell between 4% and 8%. Analysts said fears about the economic shock of coronavirus and a possible second wave prompted the
Racially insensitive Clicks advert raises concern – EFF calls for closure of stores
Health and Beauty retailer Clicks continues to come under fire after an offensive hair advert which sparked outrage on Friday. Speaking on Bongani Bingwa’s ‘Breakfast Show’ on 702, CEO of Clicks Vikesh Ramsunder said he was shocked when he saw the ad. Some supporters of the Economic Freedom Fighters (EFF) have heeded the call by
Truworths pays dividend despite annual 28% profit drop on lockdown
weeks of local sales due to the Covid-19 lockdown and hefty impairments. In an update in May, Truworths said a final dividend was unlikely. The retailer said at the height of the lockdown it earned no revenue from merchandise sales and accounting collections were significantly reduced due to the impact on customers' income as well
Elon Musk’s most ambitious venture
Elon Musk, the South African born multibillionaire, is famous for his many ambitious ventures. He created Tesla, the electric car company, to shift the car industry away from the internal combustion engine. SpaceX, his rocket company, aims to make humans a multiplanetary species by colonising Mars. Even his most boring company, aptly named the Boring
SkyDrive Japan firm says airborne vehicles could be reality by 2023
Driving flying cars has been an ongoing topic for years now, and it seems like the idea is finally becoming a reality rather sooner than we all expected. A video from the world known engineering company, SkyDrive, shows its manned compact vehicle using eight propellers to hover into the air and make its way —
Fujifilm breaks mirrorless speed record with new f/1.0 lens
Fujifilm has announced a new 50mm X-series lens with an unprecedented f/1.0 aperture. The XF 50mmF1.0 R WR is the world’s first f/1 autofocus lens for mirrorless cameras, according to Fujifilm, and marks the 35th X-series lens the company has produced. Its field of view is about 75mm-equivalent on Fujifilm’s APS-C sensors. Fujifilm’s previous fastest
Amazon looking at creating 10,000 permanent jobs in U.K
Amazon has announced that it expects to create 10,000 new permanent jobs in the U.K. this year, bringing the company’s total headcount in the country to more than 40,000. The vast majority of the roles are likely to be based in Amazon warehouses. The Seattle-headquartered e-commerce giant said Thursday it had already added 3,000 new
RDI cuts retail exposure with German disposal
The real estate investment trust says retail property now make up less than a quarter of its total portfolio. RDI REIT has disposed of another German shopping centre as it cuts its exposure to the retail sector to focus on its core property portfolio in the UK. The real estate investment trust is selling the
Strong response to Renergen LNG auction
With registrations completed, the emerging natural gas producer says allocations will be made following the end of the bid process in October. Renergen says interest in the country's first auction of liquefied natural gas (LNG) significantly beat expectations, demonstrating the inherent demand for alternative energy supplies. The emerging natural gas and helium producer announced the
Hammerson consolidates ahead of capital raise
The 24 for 1 rights issue will be highly dilutive for shareholders who do not take up their rights. Hammerson has gone ahead with a share consolidation ahead of a rights issue after its plan to reorganise its capital won the approval of shareholders at a general meeting on Tuesday. At the start of trade
Apple will soon release two Apple Watches and a new iPad Air: report
Apple is planning to ship between 75 and 80 million 5G iPhones this year, according to a new Bloomberg report. The figure is in line with or slightly higher than iPhone launch shipments for the last couple of years, suggesting that Apple doesn’t expect the coronavirus pandemic to dampen demand — even though the company
Sonos patent gives possible first look at unannounced headphones
A newly awarded patent suggests that Sonos is still hard at work on its debut pair of wireless headphones, and gives us a look at their possible design and functionality, Protocol reports. The patent shows a couple of designs that look similar to other over-ear headphones from the likes of Sony and Sennheiser. It also
Channelling capital towards sustainable investments
SUSTAINABILITY has emerged as one of the most powerful trends in the investment world as investors wake up to the pressing need to address environmental ills, and social and governance issues. Lapses on those dimensions pose potentially costly and long-tail risks for investors. Wealth and asset managers are stepping up to channel capital towards sustainable
Ground-breaking women in tech showcased at Future of Work Conference
The first-ever Future of Work Virtual Conference – hosted by CNBC Africa, in partnership with Forbes Africa – surpassed its goal of outlining digital opportunities for business in Africa, reaching more than 2 000 viewers across the globe with the live broadcast on Thursday, 20 August. But more than this, the conference showcased the impact being
Sun International reveals big Covid-19 loss
The hotel and gaming group says there will be no quick recovery to previous trading levels but it will continue to reduce debt. Sun International has slumped into a first-half loss after all its hotels and casinos were closed from late March until the end of June, cutting off revenue. However, it hopes to get
Boeing Tells Airlines To Ground Eight Dreamliners
Boeing has told at least three airlines to immediately ground a total of eight Boeing 787 Dreamliners for structural defects that occurred during manufacturing. The company issued a statement late last week that said it knows the aircraft have “two distinct manufacturing issues” that “result in a condition that does not meet our design standards.”