Blog Profile / Business Report


URL :http://www.iol.co.za/business
Filed Under:Business & Finance
Posts on Regator:28314
Posts / Week:93.4
Archived Since:June 8, 2011

Blog Post Archive

Hermès profits increase 10%

Paris – French luxury handbag-maker Hermès reported a 10 percent increase in full-year profit, helped by European tourism shifting towards the UK and Italy. Terrorist attacks in France and the decline of the pound are drawing tourists to London and Rome, chief executive Axel Dumas told reporters via a telephone call. Show More Summary

GE managers may face bonus cuts

New York – General Electric (GE) said it would cut management bonuses if it fails to meet financial targets adopted after talks with activist investor Nelson Peltz. Executive payouts will drop 20 percent if the company can’t generate...Show More Summary

China's shadow banks vie for funds

Beijing - This week's squeeze in Chinese money markets is proving especially painful for the country’s shadow banks. While interbank borrowing rates have climbed across the board, the surge has been unusually steep for non-bank institutions, including securities companies and investment firms. Show More Summary

Alibaba plans digital hub

Malaysia - Chinese e-commerce giant Alibaba on Wednesday announced a plan to set up an e-commerce hub in Malaysia. The hub will encompass logistics, cloud-computing and e-financial services. The hub will be part of the collaborationShow More Summary

South Korea complains to WTO over China

Seoul - South Korea has complained to he World Trade Organization about Chinese retaliation against South Korean companies over the deployment of a US anti-missile defence system in the South, the trade minister said on Monday. South...Show More Summary

World Bank lobbies for more money

Washington - World Bank President Jim Yong Kim said it’s important the US vote to replenish the development lender’s capital even after President Donald Trump proposed slashing foreign aid. “For us to not get a capital increase and step...Show More Summary

Wal-Mart creates Store No 8 outlets

San Francisco - Wal-Mart Stores is creating a technology-startup incubator in Silicon Valley to identify changes that will reshape the retail experience, including virtual reality, autonomous vehicle and drone delivery and personalised shopping. Show More Summary

Trump tumbles down Forbes rich list

London - While Donald Trump’s political fortunes were rising, his net worth was dropping to a mere $3.5 billion (R44 billion), or roughly one-third of what he claimed during his successful campaign for the United States presidency, according to the latest Forbes list of the world’s billionaires. Show More Summary

EU in no hurry to discuss #Brexit with UK

London - The EU has signalled its intention to keep British Prime Minister Theresa May waiting before engaging in negotiations over the UK’s exit from the bloc, in an early indication of how the British prime minister would see leverage slipping away as soon as she files for divorce. Show More Summary

Cautious China, Europe halt imports

Washington - A scandal over allegations of bribery in Brazil’s meat-packing industry to allow the sale of expired meat deepened as the European Union (EU), China and Chile decided to halt some meat imports from Latin America’s largest nation. Show More Summary

Does the Impossible Burger mean the end of meat?

Washington - Patrick Brown founded Impossible Foods with he goal of supplanting the meat industry. He believes the United States' 230 million omnivores can be made to trade their hamburgers and steaks for a plant-based equivalent, scienced into being. That vision may yet be a long way off - even Brown admits as much. Show More Summary

Home buyers still like real estate agents

Washington - Steve Murray sometimes gets together with other old-timers in the real estate industry, shares some wine and inevitably gets around to remarking, "I sure would've thought it would've changed more by now." Murray, president of consulting firm Real Trends, has been tracking for 40 years how US real estate agents do their jobs. Show More Summary

How Apple was topped in China

Beijing - Duan Yongping is convinced Tim Cook didn’t have a clue who he was when they first met a couple years ago. The Apple boss probably does now. Duan is the reclusive billionaire who founded Oppo and Vivo, the twin smartphone brands that dealt the world’s largest company a stinging defeat in China last year. Show More Summary

Smartwatches multiply as makers hunt young buyers

Zurich - Swiss watchmakers are diving further into the unproven smartwatch market, with Montblanc, TAG Heuer and Tissot seeking to attract younger shoppers with a technology the industry largely snubbed until consumers began turning away from traditional timepieces. Show More Summary

Uber head quits

San Francisco - Uber Technologies President Jeff Jones is quitting after less than a year, amid multiple controversies engulfing the ride-hailing company. The scandals range from allegations of sexual harassment and a toxic work culture...Show More Summary

Support for free trade takes a knock

Baden-Baden - The failure of the world’s financial leaders to agree on resisting protectionism and support free trade marks a setback in the G20 process and poses a risk for growth of export-driven economies such as host Germany, economists said. Show More Summary

Ratings agencies lift Russia outlook to positive

Moscow - The outlook on Russia’s junk credit ranking was raised by S&P Global Ratings as the economy shifts into higher gear and the government keeps the budget deficit in check. S&P lifted the outlook to positive from stable, leaving...Show More Summary

Brazil firms probed over bribery at meatpacking facilities

Sao Paulo - Police detained an executive of BRF on Saturday, as the meat company and rival JBS took out full-page adverts to burnish their image after raids to investigate alleged bribes paid to conceal unsanitary conditions in Brazil’s meatpacking facilities. Show More Summary

Diamond aims to build boutique bank in UK

London - Bob Diamond is returning to London’s financial centre with a takeover of brokerage Panmure Gordon & Co to build a boutique investment bank. The former Barclays chief executive’s Atlas Merchant Capital and Qatari investment bank...Show More Summary

Asset managers under fee pressure

London - Global asset managers could see revenues slump as much as 30 percent in just two years if pressure on fees and returns continues unabated, according to a report by Morgan Stanley and Oliver Wyman. If fees fall another 10 percent...Show More Summary

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