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Finance & Insurance

Weekly top stories


Credit amnesty a challenge for credit lenders
Credit lenders should rather look for new ways of deriving consumer information on which to base their lending decisions, and not complain about the new credit amnesty which was implemented on 1 April 2014. Read more >>


Actuarial & Insurance
Customers place King Price top of the hill

Issued by King Price

Short-term insurance newcomer King Price has continued on its path of toppling industry incumbents by claiming top spot in two categories in the 2013 South African Service Awards. Read more >>

State pension fund gets new board, six months late

Carol Paton

The Government Employees Pension Fund - shaken in recent months by internal feuding‚ a succession of disciplinary procedures and the suspension of its principal executive officer - is finally getting a new board six months after the term of the last board ended. Read more >>

Marketing
Give your piece a chance with a Biz Press Office

Issued by Bizcommunity.com

According to ongoing research by UK-based CMO institute, confidence in the effectiveness of content marketing is spurring 60% of marketers to devote increased budgets to this form of promotion year-on-year. Here's why content marketing should be an integral part of a communications campaign strategy. Read more >>

Banking
Absa supports Orlando Children's Home
Absa is epitomising the words of former State President Nelson Mandela when he said, "There can be no keener revelation of a society's soul than the way in which it treats its children." Read more >>

Financial Services
Institute of Retirement Funds appoints new CEO
Steven van Schanke has been appointed as the new chief executive officer of the Institute of Retirement Funds Africa (IRFA). Van Schanke, a qualified chartered accountant, spent five years in the United Kingdom where he gained experience in a number of finance-related ventures, before returning to South Africa in 2006 to set up his own business. Read more >>

Markets & Investment
PSG sets aside Curro rights issue funds

Phakamisa Ndzamela

Stellenbosch-based PSG Group said it had about R500m available for investments and would use the bulk of the funds to subscribe for a rights issue in its investment Curro‚ a fast-growing company that provides private education. Read more >>

Motor trade sales up 3.3% in February
Motor trade sales (measured in nominal terms and current prices) increased by 3.3% year-on-year in February‚ Statistics SA reported last week Read more >>

SABMiller's Africa sales slow growth

Nick Hedley

SABMiller's (SAB) fourth-quarter revenue growth fell short of analysts' expectations‚ sending the global brewing company's share price down by 2.21% on the JSE on Tuesday (15 April). Read more >>

SAB's soft drinks unit aims to cut 400 staff

Nick Hedley

The soft drinks division of South African Breweries (SAB) plans to cut more than 10% of its workforce in a restructuring programme aimed at reducing costs‚ SAB confirmed on Monday, 14 April 2014. Read more >>

R4,66-billion acquisitions for Growthpoint
In a R4,66-billion transaction, Growthpoint has acquired a 34.9% stake in Acucap Properties and a 31.5% stake in Sycom Property Fund, which will give Growthpoint around 38% of the merged entity. Read more >>

Pick n Pay earnings up 24.4% to 138.5c
Retailer Pick 'n Pay reported an increase in headline earnings per share (HEPS) for the year ended March of 24.4% to 138.51c up from 111.30c for the previously reported 368-day period in 2013. Read more >>

Competition Tribunal ruling on Oceana deal

Amanda Visser

Fishing company Oceana has been ordered to sell Foodcorp's fishing rights along with its Glenryck brand‚ as a condition for approval of a transaction allowing Oceana to take over the fishing business of Foodcorp. Read more >>

SABMiller full-year group revenue up 3%
Global brewing company SABMiller (SAB) reported a 3% rise in group net producer revenue for the 12 months ended March 2014. Read more >>

Taxation & Regulation
Competition Tribunal allows Afgri, AgriGroupe merger
The Competition Tribunal has explained its decision to include an agreement reached between government departments and merging groups Afgri and AgriGroupe as part of its condition to approve the transaction. Read more >>


International

IBM hammered on earnings slump
WASHINGTON, USA: IBM reported a 21% slump in first quarter earnings, as the computer company saw weaker hardware sales and focused more on services and the Internet cloud. Read more >>

Zynga seeks to harvest players with mobile FarmVille game
SAN FRANCISCO - Social games company Zynga released a version of the hit "FarmVille" game tailored for smartphones and tablets in the hope of reaping a bumper crop of new players. Read more >>

GM seeks court protection from ignition lawsuits
NEW YORK, USA: General Motors (GM) plans to ask a bankruptcy court to rule that it is protected from lawsuits arising from faulty ignitions tied to 13 deaths and numerous crashes. Read more >>

New US-Spanish firm targets rich mobile ad market
MADRID, SPAIN: Spanish telecommunications firm Telefonica and US investment company Blackstone launched a mobile telephone advertising venture, challenging Google and Facebook in the multi-billion-dollar market. Read more >>

MtGox bust, placed under administration
TOKYO, JAPAN - Failed Bitcoin exchange MtGox was has been placed in administration by a Japanese court, with an order for bankruptcy expected to be issued soon, its administrator and chief executive said. Read more >>

Dutch group ASML slashes forecast
THE NETHERLANDS - Dutch computer chip manufacturer and global high technology bellwether ASML slashed its forecasts for the next six months despite almost doubling profits in the first quarter. Read more >>

Yahoo sees signs of growth in core business
NEW YORK, USA: Yahoo reported a stronger-than-expected first-quarter profit with the results showing growth in the Web company's "core" business according to Chief Executive Marissa Mayer Read more >>

Peugeot Citroen reveals recovery strategy, shares slump
PARIS, FRANCE: French car company Peugeot Citroen, fighting to recover from its financialcrisis with a new Chinese shareholder, presented a recovery strategy, but its shares still slumped. Read more >>


More International


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New events to diarise

Syntell Sustainability Forum 2014
Hypenica - 18 Aug 2014 to 20 Aug 2014 Cape Town


All industry news


Marketing & Media
    Fast food, democracy and the power of marketing - Amanda Sevasti
    PR-Net: Benefitting from shrinking news rooms
    Rock4Rhinos concert in June supported by The Straits

    Retail
      SA February retail trade sales up 2.2% y/y
      Jewellery vs chocolate treats this Easter
      Location vital in successful franchising - Werner Hedder

      Government
        Broadcaster lifts ban on DA adverts

        CSI
          Regus offers free local workspaces for Earth Day
          Ride for rare diseases with the Momentum 94.7 Cycle Challenge
          InnoVent helps fill SA's skills gap, one student at a time

          Agriculture
            Tru-Cape celebrates Jan van Riebeeck diary entry
            Maize futures end mixed as rains delay new crop delivery
            Farm equity proposal is 'smoke and mirrors' - Paul Vecchiatto

            Building
              First black-owned steel mill in SA Agni Steel starts production - Mark Allix
              Total says 'very promising' oil find off Ivory Coast
              Pilot Crushtec delivers cone crusher to Strabag

              GreenBiz
                Kenya's shift to green economy should generate $45bn
                First Ford dealership to use new cooling system
                WESSA announces winners of Waste to Wealth Competition

                HR & Recruitment
                  [BizCareers] Avoiding job spec misrepresentation - Juliette Attwell
                  Employment equity report 'disappointing and superficial' - Bekezela Phakathi

                  Legal
                    Barnard v SAPS: a peculiarly South African tale - Gavin Stansfield and Anli Bezuidenhout
                    Labour Court clarifies issue of annual leave - Nicholas Preston
                    'Legal barbarians' force Wits to rethink its LLB degree

                    Manufacturing
                      Altaaqa Global opens Nairobi office
                      120 trainees ready to take on manufacturing sector - Siphiwe Nyathi

                      Property
                        Credit amnesty and the property market
                        Rethink of housing supply essential for emerging economies
                        Hout Bay property becomes the flavour of the month

                        Education
                          How a spokesman can transform your conference - Peter Davidson
                          Bright futures ahead for bursary winning students
                          Wits School of Law to discontinue undergraduate LLB

                          Tourism
                            Wilderness Botswana camps scores high in ecotourism
                            FlySafair granted domestic scheduled passenger licence
                            Clock Tower's steps at V&A Waterfront transformed

                            ICT
                              City of Cape Town's broadband achieves major milestone
                              American tech giant partners South African IT Distributor
                              Where are the programmers?

                              Lifestyle & Entertainment
                                Bands gather for South African Indies Music Week
                                Be swept away by The Grand Budapest Hotel - Daniel Dercksen
                                New fringe festival for Cape Town

                                Automotive
                                  Which medium SUV is king?
                                  Huge party plans as Mustang turns 50
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