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Finance & Insurance

Weekly top stories
Ombudsman is clear about home insurance
An important point that is clarified by the consumer information documents issued by the Ombudsman for Banking Services, is the difference in the insurance that the banks are entitled to require of anyone taking out a home loan. Read more >>


Banking
Worst password is now '123456'
The only positive point to be drawn from 2013's list of the world's worst and easiest to hack passwords is that "password" is no longer in the number-one spot - it's at number two and 123456 is now in the top spot Read more >>

Financial Services
ANC gives itself five years to resolve minimum wage

Linda Ensor

The Department of Labour will devise proposals over the next five years for the introduction of a national minimum wage and the provision of retirement savings for workers. ‚ Read more >>

Grindrod, Pembani form new rail-leasing company
Freight and logistics company Grindrod's subsidiary‚ Grindrod Freight Services (GFS)‚ has teamed up with the Pembani Remgro Infrastructure Fund (PRIF) to form a leasing joint venture. Read more >>

Markets & Investment
MAS Real Estate to go to capital markets

Alistair Anderson

MAS Real Estate says it will go to market next month to raise capital to fund its plans for its accelerated growth in the UK and continental Europe. Read more >>

Amplats appeals to miners to respect picketing rules
Anglo American Platinum (Amplats) has appealed to striking employees to respect picketing rules by using designated picketing areas. Read more >>

Spur's total sales reach R2.8bn
Spur Corporation increased total restaurant sales by 11.5% to R2.8bn in the six months to December‚ with sales from existing restaurants increasing by 7.6%. Read more >>

Market expecting Telkom turnaround

Thabiso Mochiko

Telkom kicked off 2014 on a positive note, at least on the share price side. The stock has kept the momentum it had last year, when the price moved from R15 in April to end the year at R28. From the time that trading began this year the price had risen by almost 18%. Read more >>

WEF ends with cautious optimism
DAVOS: The annual meeting of the World Economic Forum (WEF) concluded on Saturday, 25 January 2014, on a note of cautious optimism about the world economy. Read more >>

SABMiller invests US%110m in Nigeria
Global brewing company SABMiller's Nigerian subsidiary‚ Intafact Beverages‚ is to expand its brewery in Onitsha‚ south-eastern Nigeria. Read more >>

Arrowhead Property's private placement over-subscribed

Alistair Anderson

Arrowhead Properties' plan to grow its portfolio to R10bn by 2016 was given a boost on Thursday (23 January) when a private placement to fund acquisitions was over-subscribed by R90m. Read more >>

Tower's income payout surprise

Joan Muller

Tower Property Fund‚ one of four real estate companies that made their debut on the JSE last year‚ exceeded its pre-listing forecast with a maiden distribution of 33c per share for the six months to November‚ compared with its pre-listing forecast of 31.4c per share. Read more >>

AVI group H1 revenue up 10.4% to R5.40bn
Industrial group AVI has reported a 10.4% rise in revenue from R4,89bn a year ago to R5.40bn for the six months ended December. Read more >>

Implats mine closed over strike
The world's second-biggest platinum producer Impala Platinum will halt its operations to prevent violence during a planned mass strike, the company said. Read more >>

Marriott clinches deal to buy biggest African hotel chain
US hotel giant Marriott announced it had finalised a deal to buy the Protea group, Africa's largest hotel chain, for US$186m. Read more >>

Listed property's record 'beats cash‚ bonds'

Alistair Anderson

South African investors should add listed property stocks to their portfolios this year because their track record in beating inflation is better than cash‚ bonds and certain other equity investments‚ says Grindrod Asset Management's Ian Anderson. Read more >>

Transnet urged to work with Richards Bay port

Brendan Ryan

The president of the Chamber of Mines‚ Mike Teke‚ has renewed his appeal to Transnet to collaborate with the Richards Bay Coal Terminal (RBCT) on further expansion to cater for junior black coal miners wanting access to export markets. Read more >>

Telkom 'in talks to sell its cellphone towers'

Thabiso Mochiko

Telkom is reportedly in talks to sell its mobile tower infrastructure to a company based in south-east Asia‚ in a move analysts say would enable Telkom to focus on strengthening its services and cutting its costs. Read more >>

Gates Foundation forms new health partnerships in SA

Tamar Kahn

The Medical Research Council (MRC) and the University of Cape Town (UCT) on Tuesday (21 January) announced two new partnerships with the Bill and Melinda Gates Foundation aimed at finding new tools to fight HIV‚ tuberculosis (TB) and malaria. Read more >>

Foschini's Christmas trading sales up 11.4%
The Foschini Group said its Christmas trading was in line with expectations across all merchandise categories‚ with group sales growth for December of 11.4% and same-store growth of 5.3%. Read more >>

Tourism performs better than expected

Andiswa Maqutu

SA's tourism sector performed better than expected in the last quarter of 2013‚ showing resilience despite global economic woes‚ according to the Tourism Business Council of SA's (TBCSA's) FNB tourism business index. Read more >>

Ellies Holdings earnings down 40.9% to 25.09c
Electronics group Ellies Holdings has reported a 40.9% decline in its interim headline earnings per share (HEPS)‚ which it ascribed to the end of an Eskom contract that had boosted its results in the previous periods. Read more >>

Malt whisky sells for record-breaking US$628,000
HONG KONG: A bottle of malt whisky has gone under the hammer in Hong Kong for the record-breaking sum of HK$4.9m (US$628,205), an auction house says. Read more >>

Intel to cut staff in face of stagnant earnings
SAN FRANCISCO, USA: US chip manufacturer Intel said it will trim its workforce by five percent this year as it shifts from personal computers to powering mobile gadgets. Read more >>

Taxation & Regulation
Now judges have to declare interests
For the first time, judges will be legally compelled to disclose their business interests outside of their remunerated work. Read more >>

Venture Capital
New partnership provides R20m credit facility for BEE contractors
A pilot partnership between Standard Bank and Massbuild will see Massbuild supply building materials through a R20-million credit facility to 10 pre-selected BEE contractors. Read more >>


International

Further IT glitch hits UK bank customers
LONDON, UK: Britain's Lloyds banking group apologised on Sunday, 26 January, after many of its debit card customers were left unable to access their money following a server glitch. Read more >>

Nokia mobile sales drop ahead of Microsoft handover
HELSINKI, FINLAND: Nokia announced falling mobile phone sales and lower profits in its latest financial report before handing its mobile phone business over to Microsoft. Read more >>

Renault's sales rise thanks to low-cost cars
PARIS, FRANCE: French car manufacturer Renault said on Tuesday (21 January) that its sales rose by 3.1% last year to 2.63m vehicles thanks to accelerating performance by its low-cost Dacia brand. Read more >>

Verizon buys Intel's fledgling TV operations
NEW YORK, USA: Verizon said it would buying Intel Media, a unit of the chipmaking company that delivers movies and more to televisions sets via the Internet cloud, for an undisclosed price. Read more >>


More International


Jobs offered

Assistant Accountant - Stellenbosch
The Department of Financial Services at Stellenbosch University is seeking to appoint an assistant accountant, to provide a financial advisory service to faculties and departments. Read more >>




New events to diarise

Managing Accounts Payable
Alusani Skills & Training Network® - 17 Feb 2014 to 18 Feb 2014 Johannesburg

Strategic Planning, Forecasting & Budgeting
Sowpoint Training & Business Solutions - 27 Feb 2014 to 28 Feb 2014 Johannesburg

Gauteng Funding Fair
25 Mar 2014 to 26 Mar 2014 Johannesburg

Advanced Excel Skills for Financial Managers
Alusani Skills & Training Network® - 14 Apr 2014 to 15 Apr 2014 Johannesburg


Upcoming events

Diploma in Digital Marketing
BrandSchool - 3 Feb 2014 to 7 Mar 2014 Sandton,Cape Town,Bloemfontein

The Sales Advantage
Dale Carnegie Training - 4 Feb 2014 to 24 Jun 2014 Johannesburg,Pretoria


All industry news


Marketing & Media
[2014 trends] Marketing for advertising - Tarryn Pitchers
Social media... Brands, you're missing the point! - Felix Kessel
[2014 trends] Youth trends in 2014 - Jason Levin and Mokebe Thulo

Medical
Chemical threat may make for an unsafe pair of hands
Malaria drug combo could help prevent pregnancy complications in lupus patients - Karen N. Peart
Canine vaccinations effective deterrent to rabies in Africa

Retail
Fish & Chip Co runs promotional competition
Samsung, Google sign patent-sharing deal
Commission not to prosecute major retailers

Government
Policy revision at SABC causes raised eyebrows - Linda Ensor
SA continues with efforts to secure Korkie's release

Mining
Premier welcomes court order on Kagiso mining
Striking mine workers called to end strike

CSI
Partnership will improve community's food security
Still time to donate unwanted goods to less fortunate

Agriculture
Drought-stricken Free State farmers in dire straits - Annelie Coleman
Locals cash in on marula harvest
Grains mostly softer due to good rain

Arts
Theatre4Youth Forum comes to Cape Town
Call for independent theatre productions
WGSA Knowledge Share Session in Durban

Building
September to table paper on housing finance

Environment
SANParks concerned over water pollution
Sustainability Week aims to stimulate a green economy

HR & Recruitment
Make the office work for you in 2014 - Linda Trim
Dealing with employees' New Year's resolutions
[BizCareers] Put thought into interview responses - Juliette Attwell

Legal
Unregulated industry: re-sale of electricity - Ramon Pereira and Chantelle Gladwin
SA to host first ever meeting of CCJA
SAPS confiscates counterfeit goods in Kimberley

Property
Cancelling a bond application can be expensive

Security
Sanral survives its third scare
Community to be involved in recruiting police - Mthethwa

Education
Are you a square peg in a round hole? - John French
Soweto Community encourages learners to stay in school

Tourism
Promising outlook for SA's tourism industry in 2014
Report reveal travellers desire personalised services

ICT
Trend Micro's Security Predictions for 2014

Maritime
Angola searches for lost Greek oil tanker

Sport
PE ready for Herald VW Cycle Tour
IMG Media signs agreement with Klitschko
Cowen completes Robben Island swim

Logistics
Ports seek an 8.5% tariff increase - Linda Ensor

Lifestyle
Update on Red Bull King of the Air 2014
Afrinolly Short Film Competition winners announced

Automotive
Harley-Davidson launches Riding Academy in SA
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