Economic and finance news related to South African and global companies | Fin24

Huawei unit cuts more than 600 jobs following US sanctions

Jul 23 2019 15:00

Chinese telecom giant Huawei said on Tuesday that more than 600 jobs would be lost at a US unit as a result of "curtailment of business operations" caused by Washington's sanctions on the firm and 68 of its subsidiaries.


WATCH: Huawei laying off majority of US unit - source

Jul 23 2019 12:05

FutureWei Technologies, the US research arm of China’s Huawei, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company’s Silicon Valley campus.


Denel salaries on the line again

Jul 22 2019 18:14

Union Solidarity has threatened legal action against state-owned arms company Denel, after news that it would be unable to pay staff in July.


5G rollout poses no security threats - State Security Agency

Jul 23 2019 08:03

Minister of State Security Ayanda Dlodlo says information shared with 'strategic investment partners' in the rollout of 5G in South Africa would be governed by adequate existing laws and regulations.


WATCH: Tokyo unveils new robots for 2020 games

Jul 22 2019 20:36

The Organising Committee of the Tokyo 2020 Olympic and Paralympic Games unveiled Miraitowa and Someity - two robot mascots, that will represent the games next year.

Financial Services

Matjila: There will always be bad investments

Jul 22 2019 15:33

In his eighth appearance before the PIC commissioner of inquiry, former CEO of the continent's largest asset manager Dan Matjila unpacked details of some of its failed investments.


Amplats interim earnings soar despite power cuts, strikes

Jul 22 2019 13:08

Anglo American Platinum says Eskom power outages put a damper on production in the first quarter, with output of platinum group products declining 2% year-on-year to 2,146,900 ounces



WATCH: BMW picks insider Zipse as CEO to catch up with rivals

Jul 21 2019 21:00

BMW has named Oliver Zipse as its new CEO, continuing its tradition of promoting production chiefs to the top job even as the auto industry expands into new areas such as technology and services.

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