Business News
5.2.2019 09:49 am
Astral Foods says first quarter operating profit lower
The company said raw material prices were in an upward trend and consumer disposable income was under pressure.
Integrated poultry producer Astral Foods said on Tuesday its operating profit for the first quarter of its 2019 financial year was significantly lower than the corresponding period in the previous year and would have a negative impact on results for the six months ending March 30.
Astral Foods says first quarter operating profit lower
The company said raw material prices were in an upward trend and consumer disposable income was under pressure.
Business News
Anglo American Platinum earnings forecast higher
It said headline earnings in the period would include a post-tax attributable net gain of R0.5 billion.
Business News
Sea Harvest enters into deal to acquire balance of shares in Mareterram
The South African company said the acquisition price would be funded from its existing cash resources.
Business News
Russian economy outpaced expectations in 2018
Russia’s economy expanded 2.3 percent last year, growing more quickly than the government and the IMF had predicted, according to state statistics published Monday.
Business News
White House economist says economy strong despite shutdown
The US economy will post strong growth in the first quarter, despite negative effects from the extended government shutdown, top White House economist Kevin Hassett said Monday.
Business News
People must take pride of having mines in their communities: Mantashe
‘Mining development must be able to harmoniously co-exist with communities and related developmental activities,’ he says.
Business News
UK seeks to reassure foreign investors over Brexit
Britain on Monday will seek to reassure foreign investors worried about Britain leaving the EU after Japanese automaker Nissan said it was scrapping a major planned investment less than two months before Brexit.
Business News
Mantashe says dept is working to improve online application system for mining licenses
The minister adds that his department remains committed to addressing challenges in its internal processes.
Business News
African continent remains key destination for mining investment – Mantashe
The minister said the past decade had presented many challenges influencing mining both globally and locally.
Business News
AngloGold Ashanti expects higher earnings for coming year
It also cited a reduction of ore reserve development amortisation in Brazil which resulted in increased earnings.
Business News
Mantashe urges mining industry to operate responsibly
The Mining Leadership Compact commits the sector’s leadership to a common vision.
Business News
Impala Platinum expects half year output to rise 10%
Interim headline earnings are expected to increase due to an improved rand platinum group metals basket price.
Business News
SA Mineral Resources Minister Mantashe to open the African Mining Indaba
The event will see approximately 7,000 delegates from across the globe.
Business News
Glencore says copper output rises 11% in 2018
The group’s operations comprise around 150 mining and metallurgical sites, oil production assets, and agricultural facilities.
Business News
DRDGOLD says output down 5% in quarter ended December
The gold producer said the decrease in overall throughput resulted in an 8% increase in cash operating unit costs per ton.
Business News
Facebook is valued at $480 billion, but still pays Zuckerberg $1 a year
Don’t feel sorry for Facebook’s founder – he’s worth $62 billion despite his low symbolic salary.
Business News
Israel seeks to beat election cyber bots
Amy Spiro is one of many Israeli journalists who recently received a direct message on her Twitter account linking to a sensational news story.
Business News
Facebook at 15: a titan with grown-up woes
Fifteen years after its founding, Facebook has made strides toward Mark Zuckerberg’s goal of connecting the world. But it has also made some huge missteps that have turned some of its cheerleaders into vocal detractors.
Business News
US banks shifting some London staff ahead of Brexit deadline
With two months until Brexit takes effect, US banks have begun transferring some London staff to Continental Europe and drawing up contingency plans in case of a “hard” Brexit.
Business News
‘Please Call Me’ lawsuit funder calls Vodacom’s R49m offer ‘generous’
Chris Schoeman, who helped fund Nkosana Makate’s legal battle, feels the inventor should take the cellular giant’s offer.
Business News
Peregrine Securities acquisition, merger with Legae approved
The new acquisition is one of the largest stockbroking operations in South Africa.
Business News
Musk releases all Tesla patents to help save the Earth
Elon Musk announced Thursday he had released all of the electric carmaker Tesla’s patents, as part of an effort to fight climate change.
Business News
Boeing bullish on 2019 despite US-China tensions
Boeing reported a strong fourth quarter on Wednesday and offered a bullish 2019 outlook as executives expressed measured confidence in the prospects for a US-China trade agreement.
Business News
Trust the priority for Facebook with earnings due
Winning back trust is seen as the key priority for Facebook as the world’s biggest social network readies its financial update on the final months of 2018 Wednesday.
Business News
SA executives to address investment roundtable at the Africa Mining Indaba
The South African government has identified the event as a strategic forum to attract and promote foreign direct investments.
Business News
SA fruit and vegetable exports to be on display at German fair
This year’s showcase apparently comes on the heels of a successful showing in 2018, says trade and industry minister.
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