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Tuesday, July 27, 2021

LG considers shutting down phone business – Report

LG Electronics Inc. may shutter its mobile communication business rather than sell it, DongA Ilbo reports, citing an unidentified person in the electronics industry. Negotiations with Germany’s Volkswagen AG and Vietnam’s...

New Cape Winelands Airport plans revealed

South African billionaire Rob Hersov announced he is planning to convert the former Fisantekraal Airport into the “Lanseria Airport of Cape Town”. Hersov and business partner Nick Ferguson bought the Fisantekraal Airport...

Donald Trump’s wealth takes tumble during presidency

Donald Trump's net worth dropped by about $700m to $2.3bn (£1.65bn) during his time as president, according to the Bloomberg Billionaires Index. The Covid-19 pandemic hit his fortunes hard, with...

Eni and Shell: Italian court acquits oil giants in Nigeria corruption case

An Italian court has cleared two global oil giants, Eni and Shell, over allegations of corruption in Nigeria. The long-running case centred around the $1.3bn (£936m) purchase of an offshore...

Russia recalls envoy after Biden remarks about Putin

Russia has recalled its Washington ambassador for talks to prevent the "irreversible deterioration" of relations with the US. The Russian government said Anatoly Antonov had been called back to Moscow...

Reserve saves Sanlam’s bacon

When Sanlam reported its 2019 financial results a year ago it was one of the last of the old-style physical results presentations - and already the shadow of the...

HILARY JOFFE: Farming and mining – they’re not sexy, but they do sustain us

It was a week in which the official statistics confirmed that SA's economy shrank by a horrifying 7% last year, with agriculture and net exports among the only bright...

Spectrum release dogged by old snags

This week's high court order that has resulted in a delay in the auction of spectrum for high-speed broadband symbolises a malaise in policy, but flexibility on the part...

Massmart to strip the fat

Global retailer Walmart has adopted a razor-sharp focus on its South African retail business, Massmart, shedding brands and reviewing operations in other African countries that are not profitable enough. Massmart...

TymeBank gets R1.6 billion to boost South African growth

TymeBank has announced that it has secured an investment of R1.6 billion from new investors in the UK and Philippines. It said the investment is one of the largest foreign...

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F1 pre-season testing to go ahead in Bahrain in March

Formula One pre-season testing will take place at the Sakhir circuit in Bahrain from 12-14 March, F1's promoter and the International Automobile Federation (FIA)...

Ireland tour of Zimbabwe called off over Covid-19 concerns

Ireland's tour of Zimbabwe, scheduled to take place in April, has been cancelled due to the Covid-19 pandemic, Cricket Ireland said on Monday. Ireland were...

NUMSA TO PICKET AT MACSTEEL OVER RETRENCHMENTS

The National Union of Metal Workers South Africa (Numsa) will be picketing outside Macsteel's various offices on Monday morning, demanding that retrenched employees be reinstated. The union...