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Huawei CFO witness testimony to resume in Canada in U.S. extradition case
Witness cross-examination in the U.S. extradition case of Huawei Chief Financial Officer Meng Wanzhou will resume in a Canadian court on Monday where Meng’s lawyers are trying to establish that her rights were violated during the events leading up to her arrest. Meng, 48, was arrested in December 2018 at Vancouver International Airport by Canadian
Tsogo Sun forecasts a slow recovery
The hotel operator, which is buying out Hospitality Property Fund, says uncertainty and the weak economy will continue to weigh on the sector. Tsogo Sun Hotels says its interim results clearly reflect the devastating impact that Covid-19 and the accompanying lockdown regulations have had on the hospitality industry in general and it in particular. Despite
Struggling consumers need better information about their options
Debt counselling is an effective way of helping South Africans who are struggling with debt, but a lack of understanding about the process, misinformation, and concerns about being stigmatised mean some consumers don’t seek help or leave it too late. To address the problem the National Debt Counsellors’ Association (NDCA), which counts among its members
Anchor to be cast off from JSE
The stockbroker, fund management and private client business says delisting will level the playing field with competitors. Anchor Group plans to buy out minority shareholders and delist from the JSE and A2X Markets in a move it says will level the playing field with its unlisted competitors. If its proposed scheme of arrangement is successful,
Zoom to lift 40-minute meeting limit on Thanksgiving for longer family hangouts
Zoom said earlier this week it would lift its standard 40-minute limit on free video chats for Thanksgiving Day to make it easier to spend time with friends and family virtually on the US holiday. Given spikes in COVID-19 cases nationwide and various new and existing restrictions on interstate travel, this year’s Thanksgiving will be
MultiChoice tops 20 million households
Growth in subscribers and a lid on costs helped the video entertainment group grow first-half earnings as advertising came under pressure. MultiChoice has reported a strong rise in first-half earnings after rising subscriber numbers and lower forex losses helped compensate for a decline in advertising during the Covid-19 lockdown. Its results coincided with the launch
Nintendo switch remains the bestselling console
The Nintendo switch remains the bestselling console, beating the PS5 and Xbox Series X. Their different approach to the gaming landscape has set them apart and the sales of the Nintendo Switch bear witness to that. In its lifetime, the Nintendo has now surpassed 68.3 million units sold. This already puts it past the total
Standard Bank introduces contactless payments across Africa
Africa’s largest financial services organisation by assets, Standard Bank Group, is driving the contactless payments across Africa, as consumers look for safer ways to pay in the wake of COVID-19. “The pandemic has created heightened concern among consumers on cash usage, with many increasingly recognising contactless as a safer, cleaner and faster way to pay,
Kulula is set to resume flights on the 1st of December 2020
Kulula is set to join Safair in offering domestic flights during the festive period, but SAA is yet to decide when its flights will resume. This comes right after SAA and the owner of Kulula, Comair secured funding in their respective business rescue progressions. Comair has reopened bookings for all flights ahead of 1 December
Afrox prepares for Linde buyout vote
Afrox shareholders will be asked next month to vote on the proposed buyout by parent company Linde, which is likely to result in it being delisted from the JSE. The gases and equipment group sent the offer circular to shareholders yesterday following last month's proposal by Linde. It is offering Afrox shareholders R21.18 per share,
Growthpoint sells shares to trim debt
Growthpoint Properties plans to raise about R4 billion through the issue of new shares so it can pay down debt. Due to the ongoing impact of Covid-19 it wants to reduce its leverage and maintain a strong balance sheet and also have the flexibility to have cash for development and investment activities. The real estate
Gold Fields settles into new normal
The two mines most affected by Covid-19, South Deep and Cerro Corona,Gold Fields settles into new normal have shown a strong recovery. Gold Fields says its mines in SA and Peru bounced back in the three months ended September after they were severely disrupted by lockdowns during the previous quarter. The gold mining company says
Panasonic appoints Kusumi new CEO, replacing Tesla supporter Tsuga
Japan’s Panasonic Corp said on Friday it has appointed Yuki Kusumi, the head of its automotive business, as its next chief executive officer, replacing Kazuhiro Tsuga, a supporter of Tesla Inc Chief Executive Officer Elon Musk. The change, effective April 1, comes as strong sales of Tesla electric vehicles have allowed Panasonic’s battery business to
Asian stocks soars higher as Biden cements presidential win
Asian shares eked out gains on Friday and U.S. stock futures turned higher after U.S. president-elect Joe Biden was projected to win the battleground state of Arizona, cementing his win for the office. The projection by Edison Research dealt another blow to President Donald Trump’s struggling effort to overturn the results of the Nov. 3
Google ending free unlimited storage for photos
Google has revealed that it is putting an end to free storage for photos and it will begin charging users to store their photos on the cloud if these photos exceed 15GB. The changes are said to begin on the 1st of June 2021, and all photos uploaded to the Google Photos cloud storage service
SABC cutting up to 400 jobs and freezing salary increases
The South African Broadcasting Corporation (SABC) revealed that it will cut up to 400 jobs, which is way less than the originally projected figure of 600 people that were going to be retrenched. The broadcaster said that comes after it has exhausted all other options, and it is now at a place where it has
Deutsche Telekom raises guidance as U.S. unit outperforms
Deutsche Telekom DTEGn.DE raised its earnings guidance on Thursday as its reported forecast-beating third-quarter results, lifted by outperformance at its recently-merged U.S. unit T-Mobile TMUS.O. The transatlantic telecoms group upped guidance for core profit to 35 billion euros ($41.2 billion) this year, saying T-Mobile was ahead of plan on network integration while it added the
New lockdown rules under alert level 1
The Cooperative Governance and Corporate Affairs Minister Nkosazana Dlamini-Zuma has published the updated alert level 1 lockdown regulations for South Africa. This comes right after President Cyril Ramaphosa addressed the nation on 11 November, where he said that certain level 1 lockdown regulations would be eased. Changes include the removal of restricted trading hours for
BMW’s new electric scooter concept aims to be your perfect cyberpunk mount
BMW is trying to reclaim its mantle as a leader in electric mobility. As part of a suite of announcements outlining the German automaker’s latest products, BMW revealed a bold new electric scooter concept: the Motorrad Definition CE 04. In true concept form, the company hasn’t released any specs, and it hasn’t said if or
Hyundai reportedly in talks to buy robot-maker Boston Dynamics
It has been reported that Hyundai Motor Co. is in talks to buy the robotics company that is responsible for several interesting robots, Boston Dynamics Inc., and their robots include Spot and Atlas –two of the interesting bots to walk the Earth. A sale of Boston Dynamics would mark another twist in the trajectory of