Blog Profile / Business Report


URL :http://www.iol.co.za/business
Filed Under:Business & Finance
Posts on Regator:24826
Posts / Week:112.3
Archived Since:June 8, 2011

Blog Post Archive

Wild week for markets ends quietly

A volatile ride for global markets this week ended calmly even as lingering worries over Chinese economic growth weighed on stocks. ||| New York - A volatile ride for global markets this week ended calmly on Friday even as lingeringShow More Summary

Recycling is becoming fashionable

Swedish fashion retailer H&M moves to reduce its environmental impact and boost its ethical credentials. ||| Stockholm - Hennes & Mauritz, the world's second-biggest fashion retailer, is launching a new effort to promote recycling as...Show More Summary

No joy for ‘flash crash’ trader

A trader accused by the US of market manipulation failed to persuade a court on Friday to postpone his extradition hearing. ||| London - A London-based day-trader accused by the United States of market manipulation that contributed to...Show More Summary

Atlas’ Bob Diamind gets a scolding

Robert Diamond is scolded by investors for failing to buy back shares that are trading at less than book value. ||| London - Robert Diamond, whose Atlas Mara has plunged 48 percent since going public in 2013, was scolded by investors for failing to buy back shares that are trading at less than book value. Show More Summary

Samsonite squeezes suppliers

Count Samsonite International among those seeking to take advantage of the weaker yuan. ||| Hong Kong - Count Samsonite International among those seeking to take advantage of the weaker yuan. The world’s largest luggage maker, whichShow More Summary

BHP could trim steel output, again

Before BHP Billiton cut its forecast for China’s peak steel output this week, CEO Andrew Mackenzie had people count air con units. ||| Sydney - Before BHP Billiton cut its forecast for China’s peak steel output this week, CEO AndrewShow More Summary

Air China reports huge leap in profits

China’s flagship airline benefits from lower fuel prices and higher passenger numbers. ||| Beijing - Air China, the country's flag carrier, said its net profit surged more than 720 percent year-on-year in the first half of 2015, supported by lower fuel prices. Show More Summary

Mugabe bans mass lay-offs

New law compels employers to give notice to workers’ representatives and a state board before any redundancies are processed. ||| Harare - Zimbabwean President Robert Mugabe has signed a new law banning mass lay-offs following a spate of redundancies that unions say put 30 000 people out of work, local media reported on Friday. Show More Summary

Will Bob Diamond regain his sparkle?

Atlas Mara’s maiden profit is another mile-marker on Bob Diamond’s journey to repair his corporate reputation. ||| London - Bob Diamond, the former boss of Barclays, took another step in repairing his damaged corporate reputation on Thursday as his African-focused bank Atlas Mara made a maiden profit. Show More Summary

‘Flash boys’ case against Barclays tossed

Barclays cleared of conspiring with the “flash boys” traders of Wall Street. ||| London - Barclays has been cleared of conspiring with the “flash boy” traders of Wall Street after a US judge dismissed a case brought against it by several American investors, who claimed they lost money through its so-called dark pool. Show More Summary

Mining rivals make unlikely bedfellows

Mining companies are developing unlikely relationships as they try to survive the commodity meltdown. ||| Vancouver - Mining companies have a new way of surviving the commodity meltdown: getting into bed with each other. Goldcorp and Teck Resources Ltd said on Thursday they are combining two copper-gold projects in Chile. Show More Summary

Apple’s Siri coy on next big event

Apple invites the media to a mysterious event on September 9 that even Siri speaks of in hushed tones. ||| San Francisco - Apple on Thursday invited journalists to a September 9 event, where it is expected to unveil new iPhones and potentially a new version of its Apple TV set-top box. Show More Summary

Australia’s Woolworths names new chairman

Australia’s largest supermarket chain chooses Gordon Cairns to take over from Ralph Waters as chairman. ||| Sydney - Woolworths Ltd, Australia’s largest supermarket chain, appointed a new chairman and posted annual results that matched analyst estimates as its key sales measure fell for the first time since at least 2005. Show More Summary

Zuckerberg hails Facebook milestone

A billion people used the social network in a single day, says chief executive Mark Zuckerberg. ||| San Francisco - Facebook boasted of a new benchmark on Thursday in its seemingly inexorable march to Internet ubiquity: a billion people used the social network in a single day. Show More Summary

US economy hits 3.7%

The US economy grew faster than initially thought in the second quarter on solid domestic demand. ||| Washington - The US economy grew faster than initially thought in the second quarter on solid domestic demand, showing fairly strong...Show More Summary

UK may end green support

The British government proposes ending feed-in tariffs for new small-scale renewables installations next year. ||| London - The British government on Thursday proposed ending feed-in tariffs for new small-scale renewables installations...Show More Summary

Tiffany misses expectations

Tiffany post second-quarter profit that missed analysts’ estimates after currency fluctuations took a bite out of international revenue. ||| New York - Tiffany & Co, the luxury jewelry chain, posted second-quarter profit that missedShow More Summary

Miners look to the sky to cut fuel costs

Miners are installing new solar plants from Chile to South Africa, betting they’ll deliver long-term savings. ||| Melbourne - The DeGrussa copper and gold mine in Australia’s sun-scorched outback is getting a solar farm, the latest example of the industry embracing clean energy. Show More Summary

Oil slump hits China’s energy firms

Sinopec and CNOOC see net profits slip as low oil prices and a weak global economy weigh on their bottom lines. ||| Beijing - Two of China's biggest energy companies - Sinopec and CNOOC - saw their first half net profits slump as low international oil prices and a weak global economy hit the bottom line, they said. Show More Summary

Abercrombie’s earnings top estimates

Abercrombie & Fitch’s shares jump the most in three months after clothing chain reports surprise profit. ||| New York - Abercrombie & Fitch shares jumped the most in three months after the teen-clothing chain posted a surprise profit, fuelling optimism that it can recover from years of slumping sales. Show More Summary

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