Massmart sees pressure from rate hike - Business Day
Walmart-owned Massmart yesterday said the recent interest rate hike seemed certain to make things more difficult for middle-income customers who were in a weak financial position.
BAT revenue grows 4% as market share improves - Business Day
Cigarette brands conglomerate British American Tobacco (BAT) has shown its pricing power prowess, managing a 4% hike in revenue to £15.3bn in the year to end-December despite a decline in volumes.
Non-SA stores boost Shoprite's earnings - Business Report
South Africa’s biggest food retailer, Shoprite, has pinned its hopes on its operations outside the country, as local consumers struggle with spiralling costs and competition among retailers is expected to heat up.
JD Group's financial nirvana still far off - Moneyweb
Judging from the JD Group’s interim results, the group has a very long road ahead of it before it reaches any kind of financial nirvana.
Discovery Insure set for profitability - Business Day
Financial services group Discovery’s short-term insurance division is on track to be profitable within two years, in contrast with other South African short-term insurers, which are under strain. View article
Rand's recent rally unlikely to halt march of inflation - Business Day
THE rand’s rally against the dollar over the past few days is too small to halt soaring fuel prices or improve the inflation outlook, analysts told Business Day on Monday. View article
Woolies clients 'will feel rate hike most' - Business Report
Spending among resilient consumers in the higher income brackets could be hampered by possible further interest rate hikes, Woolworths chief executive Ian Moir said yesterday However, should this happen he said Woolworths, which has outperformed its competitors both in the clothing and food spaces, would be able to cope with the consequences.
Construction: slight signs of promise - Financial Mail
The JSE’s construction sector, which is trading at a large discount to in-favour industrial stocks, holds pockets of value and is expected to undergo a re-rating in the medium term. View article
Kumba negotiates for Sishen right - Business Day
Kumba Iron Ore is in talks with the Department of Minerals and Energy about conditions for securing a mining right over an unallocated stake in its flagship Sishen mine as it contemplates a future free of time-consuming legal battles.
Barclays 'on track after tough period' - Business Day
Barclays Africa Group’s share price surged more than 5% to an intraday high of R130.50 yesterday after the bank reported a 14% rise in earnings as it showed bad debt was under control and its retail division’s turnaround plan was gaining traction. CEO Maria Ramos said the group was on the right track after a “tough period”.
PPC to build cement plant in Algeria - Business Day
Cement firm PPC plans to enter the North African market for the first time by constructing a 2-million tonnes a year plant in Algeria, together with a local consortium. The company’s African expansion drive – through which it aims to nearly double its revenue contribution from north of SA’s borders in three years – has so far focused on sub-Saharan Africa.
Lower your return expectations for 2014 - Personal Finance
Long-term investors should not expect to enjoy this year the spectacular returns they earned last year, but they need not fear the end of the bull market, especially in global equities. This is the view of a number of asset managers, who maintain a tempered optimism in the face of the recent market sell-off and the interest rate hike last week.