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Gold Street is where South Africa’s mining history goes to die

Gold Street is where South Africa’s mining history goes to die

Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold. Local residents in Khutsong, Carletonville. (Bloomberg pic) JOHANNESBURG: The death rattle of the industry that once symbolized South Africa can be heard in the town of Carletonville—on Gold Street. That’s where Paseka Selemela has been guarding […]

June 20, 2018 | By | Reply More
Pershing Square analyst Brian Welch to leave company

Pershing Square analyst Brian Welch to leave company

Welch led research efforts on Automatic Data Processing Inc. William Ackman is the owner of Pershing Square. (Reuters pic) NEW YORK: Willliam Ackman’s hedge fund Pershing Square Capital Management LP said on Tuesday that Brian Welch, who led research efforts on Automatic Data Processing Inc (ADP), one of the firm’s recent investments, was leaving the […]

June 20, 2018 | By | Reply More
Volvo opens US plant in timely hedge against trade spat

Volvo opens US plant in timely hedge against trade spat

Now that the plant is about to begin production, it’s poised to serve as a small hedge against tariffs at a time when economic barriers are being erected almost daily. A male worker cleans a Volvo logo as it sits on a sign at the Volvo Cars display stand, ahead of the 85th Geneva International […]

June 20, 2018 | By | Reply More
Toyota captures data goldmine in $1 billion Grab bet

Toyota captures data goldmine in $1 billion Grab bet

The Japanese automaker said it aims to install its TransLog driving recorder devices into Grab’s fleet of lease cars to access the data on driving patterns that will be crucial to its push into the nascent mobility-as-a-service industry. The Toyota logo is shown at the Los Angeles Auto Show in Los Angeles, California, US, November […]

June 20, 2018 | By | Reply More
Chinese equity selloff abates as authorities call for calm

Chinese equity selloff abates as authorities call for calm

People’s Bank of China Governor Yi Gang urged investors to take a rational view, saying policy makers are prepared for outside shocks. Investors stand at trading terminals in front of an electronic stock board at a securities brokerage in Shanghai, China. (Bloomberg pic) SHANGHAI: Declines in Chinese stocks and the yuan came to a halt […]

June 20, 2018 | By | Reply More
VW, Ford mull teaming up on developing commercial vehicles

VW, Ford mull teaming up on developing commercial vehicles

The potential alliance on several projects, including vans and other commercial vehicles, won’t lead to an exchange of equity or cross-ownership stakes, the companies said in a joint statement Tuesday. Employees work as Ford Motor Co. Expedition sports utility vehicles (SUV) sit on an assembly line at the Ford Kentucky Truck Plant in Louisville, Kentucky, […]

June 20, 2018 | By | Reply More
Nikkei rises in volatile trade helped by China stock gains

Nikkei rises in volatile trade helped by China stock gains

Analysts said investors had been monitoring Chinese market moves, and were relieved that China stocks seemed to be taking global trade tensions in their stride, if only temporarily. A man walks past electronic boards showing Japan’s Nikkei average (L), the Dow Jones Industrial Average (2nd L) and foreign exchange rates outside a brokerage at a […]

June 20, 2018 | By | Reply More
Scientex profit slips 8.1% in Q3 on lower property contribution

Scientex profit slips 8.1% in Q3 on lower property contribution

PETALING JAYA: Scientex Bhd’s net profit declined 8.1% to RM61.14 million for the third quarter ended April 30, 2018 versus RM66.5 million in the previous corresponding period, due to lower contribution from the property division as the recently launched projects were still in the early stages of progress billings despite having registered commendable sales for […]

June 20, 2018 | By | Reply More
A Maxis-Astro merger makes sense, says analyst

A Maxis-Astro merger makes sense, says analyst

PETALING JAYA: A merger between Maxis Bhd and Astro Malaysia Holdings Bhd is a rational option in view of intense market competition, according to AmInvestment Bank. Should it materialise, it would create a merged entity with a market capitalisation of RM53 billion against RM44 billion for Maxis. The combined net profit meanwhile, stands at RM2.6 […]

June 20, 2018 | By | Reply More
Shares of Maxis fall, Astro rise on talk of corporate exercise by Ananda Krishnan

Shares of Maxis fall, Astro rise on talk of corporate exercise by Ananda Krishnan

PETALING JAYA: Shares of Maxis Bhd fell, while Astro Malaysia Holdings Bhd’s stock rose on news of a possible corporate exercise by major shareholder T Ananda Krishnan. Maxis Bhd’s share price closed eight sen lower to RM5.57 in morning trade, while Astro’s share price was up six sen to RM1.66, after a report in an […]

June 20, 2018 | By | Reply More