Transnet has defended its pick to run its Durban Pier 2 container terminal in the wake of a court challenge by snubbed bidder APM Terminals. During a media briefing on Transnet’s recovery plan on Friday, the parastatal’s board chair, Andile Sangqu, underlined that having a private sector partner manage the terminal “is a longstanding priority of national government”.  Last July, Transnet selected Philippines-based International Container Terminal Services Incorporated (ICTSI) as the preferred bidder to partner in a 25-year joint venture to develop and upgrade the terminal, marking the fir ..read more

Anglo American’s board has unanimously rejected a $38.8 billion takeover bid by Australian giant BHP after concluding that the proposal “significantly undervalues” the JSE-listed mining company. The company made the announcement on Friday morning.  According to a statement, the board also believes that the structure of the transaction — which would require the company to demerge its entire shareholdings in Anglo American Platinum and Kumba Iron Ore — “is highly unattractive for Anglo American’s shareholders, given the uncertainty and complexity inherent in the proposal and significant exe ..read more

The uncertainty created by the possibility of a coalition government is putting people off big-price buys This content is restricted to subscribers only. Join the M&G Community Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently. Subscribe Subscription enables: - M&G community membership - independent journalism - access to all premium articles & features - a digital version of the weekly newspaper - invites to subscriber-only events - the oppo ..read more

The proposal entails Anglo significantly lowering its exposure to South Africa by demerging its holdings in beleaguered Anglo American Platinum and Kumba Iron Ore This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: - M&G newsletters access - notifications - the best possible experience Already registered ..read more

The US Federal Reserve’s ‘higher for longer’ stance and local election jitters have weighed on the rand, adding to price pressures This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: - M&G newsletters access - notifications - the best possible experience Already registered? Login here Want to subscribe and ..read more

Africa’s Travel Indaba is expected to inject at least R1.2 billion into South Africa’s economy when it hosts the continent’s tourism offerings in Durban next month. The 13 to 16 May event is forecast to match or surpass last year’s forum which — according to a post event survey — generated R408.6 million in revenue directly to the local economy and a further R776.4 million in indirect or induced revenue, Deputy Tourism Minister Fish Mahlalela said. “Additionally, the event contributed R75 million to national government taxes and, despite the subdued economic environment, we are confident that ..read more

Among the companies that have announced staff cuts are Anglo American and Sibanye Stillwater This content is restricted to subscribers only. Join the M&G Community Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently. Subscribe Subscription enables: - M&G community membership - independent journalism - access to all premium articles & features - a digital version of the weekly newspaper - invites to subscriber-only events - the opportunity to te ..read more

Local clothing manufacturers have been dealt a number of blows in recent years, including the rise of international fast fashion retailers This content is restricted to subscribers only. Join the M&G Community Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently. Subscribe Subscription enables: - M&G community membership - independent journalism - access to all premium articles & features - a digital version of the weekly newspaper - invites to ..read more

The banking sector is hesitant to invest in cannabis because the current legislation inhibits financial institutions from putting money into the industry. Under the Drugs and Drug Trafficking Act cannabis is still outlawed but new legislation would decriminalise the stimulant, allowing for money to flow into the industry.  Major banks, including Nedbank, FirstRand and Absa, have said they have followed the sector with interest, but have not been proactive in financing it because of the restrictive legislative framework.  “The company is looking at this industry and assessing where it ..read more

Investors have raised concerns that the parameters of the inquiry appear vague This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: - M&G newsletters access - notifications - the best possible experience Already registered? Login here Want to subscribe and get even more benefits? Explore our subscription of ..read more