John Cryan says in a letter to staff that the bank remains robust — but investors are not reassured and the shares have plumbed fresh lows
Friday, 30 September 2016
Chinese factory activity expands in September
A pick-up in domestic and export orders contributed to the slight increase in PMI, but manufacturers continued to shed jobs
SAA needs a cash injection, the airline’s directors say
State guarantees mean it can continue as a going concern for another year but its balance sheet still needs to be strengthened
Airbus Group to merge with its plane-making unit
Europe’s largest aerospace group to strip out bureaucracy and simplify its brand as it prepares for more competitive environment
Coal of Africa’s cash balance at $19.5m
Company has generated no revenue this financial year as all its operations are on care and maintenance, auditors express doubt that it can continue as a going concern
Times Media wins digital media awards for election app and new website
The accolades for the app and Wanted Online put TMG in line for the global digital media awards, and coincide with the introduction of an exciting new project, BusinessLIVE
Deutsche Bank faces up to its image problem among hedge funds
The bank, fighting a $14bn US fine, says the division that services hedge funds is ‘still very profitable’ but there is ‘no question we have a perception issue’
Rand’s sharp about-turn continues, taking it back through R14/$
Risk aversion arising from concern about Deutsche Bank is partly responsible, while local trade data will be closely watched later in the day
Coal optimist Quinton van der Burgh on why he bought into Richards Bay terminal
His Burgh Group joined with Vitol to buy the stake from the Guptas’ Tegeta Exploration and Resources
Congo’s central bank more than triples its benchmark interest rate
The bank has moved to contain inflation that is expected to quadruple this year, and also plans to intervene in the foreign exchange market
Thursday, 29 September 2016
Decisions on public money not that democratic when the majority is not heard
Debate on spending is always about which insiders get what, not about what can be done to make outsiders become insiders, writes Steven Friedman
AB InBev to keep its name after SABMiller takeover
The brewer is one step closer to sealing the deal, and is awaiting the outcome of the SABMiller and Newbelco shareholders’ votes
Accentuate puts FloorworX fraud to bed
The chemicals and flooring group has released full-year results showing its efforts to contain costs are bearing fruit
Nuclear new build programme thrown into disarray, again
Naledi Pandor contradicts comments made by Tina Joemat-Pettersson on the commencement date for the call for proposals for the new build programme
Steinhoff to raise up to €2.4bn to fund acquisition spree
It will raise at least €1.89bn as it issues new shares to fund the purchase of Poundland in the UK and Mattress Firm in the US
Equites expects ‘tremendous distribution growth’
The property fund says it competes with much bigger companies, including Fortress Income Fund, in the industrial market
Jacob Zuma calls for stronger ties between business and government
The president addresses infighting between black business leaders, saying it is disappointing that ‘among ourselves we see enemies’
ArcelorMittal SA reveals the terms of its long-awaited empowerment deal
The steel maker’s empowerment partner and its employees will hold just over 22% of the company, with a lock-in period of 10 years
Nigerian allegations are without merit, says MTN Nigeria CEO Ferdi Moolman
The cellphone company’s Nigerian unit has responded to allegations that it repatriated $14bn illegally over 10 years
Tuesday, 27 September 2016
MPs to meet SABC board on court dismissal of Hlaudi Motsoeneng appeal bid
Parliament’s communications committee will meet the SABC board on the latest court ruling on controversial Hlaudi Motsoeneng, but says it believes any decision the board took was in good faith
Thuli Madonsela to bring citizens up to speed with her office’s inquiries
The outgoing public protector will launch investigation reports that relate to the cases of ordinary South Africans
Gauteng’s health department ‘was reckless’, say civil society groups
TAC, the South African Depression and Anxiety Group and other bodies say the death of 36 psychiatric patients was ‘entirely preventable and unnecessary’
JSE opens weaker despite firmer Asian markets as gold shares soften
Local bourse softer on Tuesday morning as investors keep an eye on this week’s Opec meeting, at which participants may agree on a production freeze
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