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  • Bitcoin slide makes monthly loss the biggest in seven years

    01 December 2018 1:49 PM 51

    Bitcoin registered its biggest monthly decline in more than seven years as investors reevaluate the prospects of digital money following last year’s euphoria. The biggest cryptocurrency dropped 6.1% to $3 930 on Friday, bringing its monthly loss to 37%. That’s the steepest drop since August 2011, when the token tumbled 39% to $8.20. Bitcoin surged to a record

  • Cell C turns to Blue Label, banks to refinance onerous debt

    22 November 2018 10:19 AM 40

    Cell C said it’s refinanced R1.4bn of debt on better terms with loans from its biggest shareholder and a consortium of banks as the South African wireless carrier considers a listing in 2020. South Africa’s third-largest operator is also in talks with vendors including Huawei for an additional facility of R1.4bn to fund capital expenditure, a company

  • Airbnb to remove Israeli settlement listings

    20 November 2018 8:26 AM 48

    Airbnb has said it will stop renting out homes in Jewish settlements of the West Bank, a move that drew sharp rebukes from Israeli officials on Monday. The San Francisco-based company said it would remove about 200 home and room rentals in the disputed region. Airbnb said that although US law allows for it to continue operating there, it made the controversial

  • Sony boosts outlook as PlayStation heads for record year

    30 October 2018 7:51 AM 60

    Sony upgraded its earnings outlook for a second straight quarter, thanks to a plethora of hit video-game titles that are boosting the PlayStation business. Operating profit for the current fiscal year through March will be ¥870bn, up from the prior forecast of ¥670bn, the Tokyo-based company said in a statement on Tuesday. Revenue will be ¥8.7trn, compared

  • Amazon debuts no-fee AmEx card to lure small-business spending

    24 October 2018 7:43 AM 56

    Amazon.com and American Express are upping the ante in their bid for small-business spending. The two companies unveiled a new co-branded card for small businesses on Tuesday. Cardholders with an Amazon Prime membership will be able to choose between an interest-free loan for 90 days or 5% back on purchases made at Amazon.com, Amazon Business, Amazon

  • Tencent is no longer one of the world's 10 biggest companies

    10 October 2018 8:35 AM 54

    More bad news for Tencent: the Chinese internet giant has lost its spot as one of the world’s 10 biggest companies. After shedding over $200bn in market value this year, more than any other company worldwide, Tencent has been replaced by Exxon Mobil in the top of the rankings based on market capitalisation. When its share price hit a record high in January

  • Mokonyane hits out at SABC board over job losses

    17 September 2018 3:07 PM 16

    Communications Minister Nomvula Mokonyane has hit out at the SABC board over possible retrenchments at the public broadcaster, saying it ignored the department's advice despite several meetings. Mokonyane said while she was aware of the SABC's "precarious financial position" and the urgent need for it to contain costs, she was strongly opposed to retrenchments

  • Musk scores a much-needed win with successful SpaceX launch

    10 September 2018 9:18 PM 71

    Space Exploration Technologies launched a commercial satellite for Telesat from Florida, marking the rocket company’s 16th mission of 2018 - two years of uninterrupted achievements. The launch, the 16th successful mission of about 30 targeted this year, is a bright spot in an otherwise tumultuous few months for chief executive officer Elon Musk, who also heads

  • India calls for WhatsApp reforms after lynchings

    22 August 2018 10:00 AM 63

    India on Tuesday called on WhatsApp to clamp down on fake news spread on the messaging app that has been blamed for lynchings across the vast South Asian country. Mobs have killed more than 20 people in two months following unfounded allegations spread on the Facebook-owned platform, which has 200 million users in India. Information Technology Minister

  • Naspers concludes disposal of Flipkart stake for over R27bn

    20 August 2018 10:37 AM 67

    Naspers [JSE:NPN] has concluded the disposal of its 11.18% stake in Indian commerce company Flipkart, for $2.2bn (about R27.7bn), according to a notice issued to shareholders on Monday. The e-commerce giant in May announced it was selling its stake in Flipkart to US-based retailer Walmart. In the shareholder notice, the group said that the transaction