What the world thinks of South Africa
A BBC World Service 2013 Country Ratings poll has revealed that global sentiment towards South Africa remains positive, overall, but only just. The poll, conducted by GlobeScan/PIPA among 26,299 people around the world between December 2012 and April 2013, asked respondents to rate 16 countries and EU on whether their influence in the world is [...]
Foschini’s profits increase
Johannesburg – The Foschini Grou, South Africa’s No.3 listed clothing retailer, missed estimated with an 11 percent rise in full-year profit as debt-laden consumers cut back on spending. Foschini, which also sells jewellery and furniture, said diluted headline earnings per share totaled 851.3cents in the year to end-March compared with 766.1cents a year earlier. The [...]
Tablet shipment to surpass portable PCs in 2013
According to a new forecast from the International Data Corporation (IDC) Worldwide Quarterly Tablet Tracker, tablet shipments are expected to grow 58.7% year over year in 2013 reaching 229.3 million units, up from 144.5 million units last year. IDC now predicts tablet shipments will exceed those of portable PCs in 2013, as the slumping PC [...]
Dell board backs CEO’s buyout offer
New York – The board at Dell said that a takeover bid led by the company’s founder and CEO is in the best interest of the slumping PC maker’s shareholders and asked them to approve the deal when it’s put to a vote in July. The Round Rock, Texas, company’s announcement on Friday amounts to [...]
Country Bird CEO resigns
Johannesburg – Jeff Wright has resigned as Country Bird Holdings [JSE:CBH] after five years at the helm, the poultry producer said on Friday. Wright will be replaced by Marthinus Stander as CEO with effect from July 1. Stander has held senior executive positions at Pioneer Food Group (PFG) and Rainbow Chicken (RBW), operated a KFC [...]
Apple customers pay for weak yen
Tokyo – Apple raised prices of iPads and iPods in Japan on Friday, becoming the highest-profile brand to join a growing list of foreign firms asking Japanese consumers to pay more as a weakening yen squeezes profit. Some US companies have inoculated themselves at least temporarily against the yen’s fall through financial hedging instruments, while [...]
Tiger Brands profits rises as bakeries, rice volumes recovered
Tiger Brands Ltd. (TBS), South Africa’s biggest food maker by market value, said the company regained volume in bakeries, rice and snacks and treats and maintained profit margins across many of its domestic businesses. Net income for the six months through March increased 2.6 percent to 1.32 billion rand ($135 million), compared with 1.25 billion [...]
Massmart to focus on store growth in Africa
VENTURES AFRICA. JSE-Listed general retailer, Massmart, on Wednesday said it will start paying more attention to store growth in South Africa and sub-Saharan Africa. In 2010, the world’s biggest retailer, Wal-Mart, acquired Massmart for $2.3 billion. This has given Wal-Mart a huge presence in South Africa and has prepared the company for the further expansion [...]
France’s Danone acquires 8.3% stake in Chinese dairy company
The world’s leading yogurt maker Danone announced that it has agreed to acquire a 8.3% stake in the Chinese diary company Mengniu, and it will establish a joint venture with Mengniu in China. Prominent Achiever Ltd, in which Danone owns a 51% stake, will buy these shares from Cofco Group, the major shareholder of Mengniu. [...]
Edcon continues online push. Red Square sets up ecommerce offering
Retail group Edcon has launched its Red Square brand online, the latest of its stores head into the realm of e-commerce. The move follows the launch of CNA’s move to online retail in June 2012, and according to Edcon’s head of e-commerce, David Gibbons, the group is actively looking at which brands to launch next. [...]
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