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Prasa acting CEO: We have a Montana problem

Aug 30 2016 13:46

Prasa, which has incurred irregular expenditure of R13.9bn, has a problem, but it isn't insurmountable, says acting CEO Collins Letsoalo.


VW CEO sees first fruits from turnaround effort

Aug 30 2016 10:48

Volkswagen boss has said it will take two to three years for his revamp to bear fruit as he faces internal opposition to his shift of the car maker toward new technologies.


Components cannibalisation, acting staff throw Prasa off track

Aug 30 2016 10:36

Passenger Rail Agency of South Africa has achieved only 45% of its target set out in the 2015-’16 annual performance plan.


BEE clause in SAA funding notice raises red flag

Aug 30 2016 06:29

Questions have been raised about the legality of part of SAA's funding request for R16bn in the open market.


SAA on why it went to market for R16bn

Aug 29 2016 18:03

SAA says it is testing the market's appetite with its request for R16bn in funding after it terminated BnP Capital's mandate to source funds and to consolidate debt.


Denel and Treasury still at war over VR Laser deal

Aug 30 2016 07:48

Reports indicate that Treasury will take legal action against Denel over a deal with VR Laser, despite Denel saying it has "closed its books" on the matter.


SAA's R16bn loan appeal more proof for business rescue - DA

Aug 29 2016 13:58

SAA's advert for a tender of R16bn indicates the desperate financial position the airline is in and it should therefore be placed under business rescue, says the DA.


Bidvest on the hunt for acquisitions - CEO

Aug 29 2016 12:38

Bidvest Group is seeking acquisitions both locally and internationally and has the ability to borrow funds to finance deals, says chief executive officer Lindsay Ralphs.


SAA asks lenders for R16bn

Aug 29 2016 11:39

Cash-strapped SAA has turned to financial institutions to raise R16bn to meet its working and capital expenditure requirement, and to consolidate its current debt portfolio.


ArcelorMittal drops 'quota system' for new jobs

Aug 28 2016 10:00

ArcelorMittal has withdrawn a policy giving 100% preference to certain designated groups when making external appointments, says Solidarity.



SAA rejects allegations of business rescue, liquidation

Aug 26 2016 18:29

SAA is not in a state where business rescue is needed and there is no rift between chair Dudu Myeni and Finance Minister Pravin Gordhan, says the airline.


Ab InBev plans to cut 5500 jobs after SABMiller takeover

Aug 26 2016 11:37

AB InBev is expecting to cut about 3% of its enlarged workforce in the three years after its takeover of SABMiller as it seeks to maximise savings from the merger.

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