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Finance
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Petrol Price Hike Explained – Oil Imports From Iran Drop To Zero
03 Sep 2012 by Jasmine Stone / 1 Comment
As the petrol price is set to increase by 93 cents a litre on Wednesday, it’s been revealed that South Africa imported no crude oil from Iran last month, traditionally one of our biggest suppliers.
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1Time Airline In Serious Financial Trouble, Files For Business Rescue
22 Aug 2012 by Jasmine Stone / 11 Comments
Earlier this year, it was reported that 1time Airline was in serious financial trouble, and some even wondered if they’d be around next year. 1time now requires a business rescue as they are “financially distressed”, and owe millions.
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MXit Money: MXit Teams Up With Standard Bank For New Mobile Money Service
16 Aug 2012 by Jasmine Stone / No Comments
Africa’s largest social network already has MXit Moola as part of its mobile payment infrastructure, but they just got a little bit cleverer by partnering with Standard Bank and introducing MXit Money.
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Tiffindell Ski Resort Will Be Running By Next Winter
10 Aug 2012 by Jasmine Stone / No Comments
It’s a pity Lew Campbell wasn’t able to capitalise on this past week’s snow, but he definitely hopes we’ll see similar snow next year because he plans to have Tiffindell up and running by next winter. Lew is the proud new owner of SA’s only ski resort, and he has plans to turn Tiffindell into […]
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Independent Newspapers Bosses Sue Noseweek
08 Aug 2012 by Jasmine Stone / 2 Comments
It emerged overnight that three Independent Newspapers executives will sue Noseweek in the Western Cape High Court, claiming a collective R1 million for defamation.
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Multi-Billion Rand Bid To Buy Independent Newspapers Is R1 Million Too Much
07 Aug 2012 by Jasmine Stone / No Comments
The Sekunjalo Consortium has made a multi-billion rand bid to buy Independent Newspapers, but they might want to knock off R1 million from that bid for the “kickback” Independent took from Auction Alliance last year.
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British Bank Accused Of Laundering $250 Billion For Iran Regime
07 Aug 2012 by Jasmine Stone / No Comments
US regulators have accused British bank, Standard Chartered, of behaving like a “rogue institution” and of laundering $250 billion from Iran, hiding the transactions for over a decade, a violation of US sanctions.
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Cape Town Rezones Green Point Stadium
26 Jul 2012 by Jasmine Stone / 2 Comments
This will be a decision that will please many: Cape Town’s city council has approved the proposal to rezone the Cape Town Stadium in Green Point for commercial activity.
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A Day In The Life Of Elon Musk, South Africa’s Greatest Entrepreneurial Export
25 Jul 2012 by Jasmine Stone / 1 Comment
Elon Musk has been called the “most inspiring entrepreneur in the world right now”, and it’s not hard to see why when one considers what he does. Click through for a look at what Elon’s average day is like.
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FNB Customers Can Now Draw Cash From Supermarket Tills
20 Jul 2012 by Jasmine Stone / 2 Comments
FNB, trying to get relief from foot traffic in its branches, is now offering cash back at Pick n Pay and Shoprite Checkers. This move comes as government is placing increased pressure on banks to reduce transaction and banking fees.
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Is Richard Branson Buying Back Virgin Records?
18 Jul 2012 by Jasmine Stone / No Comments
Billionaire Richard Branson, founder of the Virgin Group, has expressed his interest in buying back the business that started it all, Virgin Records.
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HSBC Handled Serious Drug Money For Quite A While
17 Jul 2012 by Jasmine Stone / No Comments
Big banks just continue to let us down. In the latest scandalous development in the world of banking, the global bank HSBC has been used by Mexican drug cartels looking to get cash back into the US, and by Saudi Arabian banks that needed access to dollars.
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Another Nail In The Coffin, RIM Forced To Pay $147 Million Over Patent Dispute
16 Jul 2012 by Jasmine Stone / No Comments
In another financial blow that the company can’t afford, RIM has been found guilty of patent infringement and has been forced to pay out $147,2 million in damages.
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RIM’s Terrible Past Quarter Was Terrible
13 Jul 2012 by Jasmine Stone / No Comments
BlackBerry maker, Research In Motion, has had a terrible past quarter. The smartphone manufacturer is now literally hemorrhaging money and sales figures.
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Tiffindell Ski Resort Sells For R5,5 Million
12 Jul 2012 by Jasmine Stone / 1 Comment
A Jozi-based businessman, Lew Campbell, has just landed himself a great deal. Today he bought the Tiffindell Ski Resort at an absolute auction, and he hopes to have it running again by 2013.
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Independent Newspapers Up For Sale?
12 Jul 2012 by Jasmine Stone / No Comments
Independent News and Media, the country’s largest newspaper group, may be up for sale. Of course, the first question that gets raised when these kind of things happen, which they don’t really, is are there politically connected buyers lining up to bid for the group?
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Coming Soon: Facebook Bank
12 Jul 2012 by Jasmine Stone / 2 Comments
Facebook may in the future be doing for your banking what it’s done for your online privacy in general. Who doesn’t want to be able to pay their bills while at the same time looking at photos of their friends at that braai that got a little out of hand?
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Could The LIBOR Scandal Be “The Biggest Consumer Fraud In History”?
12 Jul 2012 by Jasmine Stone / No Comments
Over the past few weeks we’ve brought you several reports regarding the increasingly worrisome LIBOR scandal. The investigation into interest rate-rigging debacle is quickly snowballing and analysts have now begun wondering if “16 of the world’s largest banks have perpetrated the biggest fraud in history.”
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Hundreds Of Millions Of Rand To Be Poured Into False Bay Coastline, Copacabana Style
11 Jul 2012 by Jasmine Stone / 4 Comments
A huge development is on the cards for the stretch of coastline from Cape Point to Gordon’s Bay. It would turn the area into the Copacabana of Cape Town, MEC Alan Winde has said.
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Eskom Defends R36 Million Staff Parties
09 Jul 2012 by Jasmine Stone / 1 Comment
On the back of numerous electricity price hikes comes the news that Eskom blew more than R36 million on staff parties and team building experiences last year. The parastatal has however come out and defended the expenditure saying fun days are used to commit workers to keeping the lights on.
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Incredible Images Of Massive Chinese-Built Ghost Town In Angola [GALLERY]
04 Jul 2012 by Jasmine Stone / 1 Comment
If you weren’t aware of just how prolific Chinese investment is in Africa, wait until you see these startling images of what’s going on in Angola.
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Confirmed: Barclays Not Alone, As Chairman Quits
02 Jul 2012 by Jasmine Stone / No Comments
The Financial Services Authority (FSA), the regulator of all providers of financial services in the UK, has today confirmed that Barclays was definitely not acting alone, nor was this an isolated case in the authorities’ probe of banks rigging a key interbank interest rate.
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Could The Barclays Scandal Prompt Investors To Run To SA For Cover?
29 Jun 2012 by Jasmine Stone / No Comments
On the back of news that Barclays bank was punished with a record fine of £290 million by UK authorities for interest rate manipulation, comes the speculation that the crisis, said to involve numerous banks around the world, could help push investors toward South African shores.
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Start Something That Matters Today
29 Jun 2012 by Seth Rotherham / 2 Comments
Sanlam’s National Start Something Day competition is in full swing, and with R200 000 at their disposal, they’ve been helping people to start the things they’ve always wanted to do but never done. What would you like to start? We’ve all got that thing in the back of our minds: that blank canvass stuffed in […]
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Barclays Fined £290 Million Over Libor Fixing
28 Jun 2012 by Jasmine Stone / 1 Comment
Well this is terribly worrying. Yesterday, Barclays bank – one of the biggest banks in the world – was fined a record £290 million for attempting to manipulate the world’s benchmark borrowing rate – the Libor. This is a huge blow to the bank’s reputation and raises questions over the future of chief executive Bob Diamond. Up to 40 other global banks face being named and shamed too.
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Frank.Net – Life Investment Made Simple, And Fun
27 Jun 2012 by Seth Rotherham / No Comments
Frank.net sell Life Cover, Disability Cover, Serious Illness Cover, and Salary Protection directly to people without using brokers. They’re backed by Munich Re – the world’s leading re-insurer – so you never have to worry if they actually have the money. They tell it like it is, and don’t hide behind big words or misleading […]
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SA Government Receives R25 Million Donation For Wildlife Crime Fighting
27 Jun 2012 by Jasmine Stone / No Comments
The Department of Environmental Affairs (read: the South African government) has welcomed (obviously?) the Council of the Global Environment Facility’s approval of R25 million worth of funding aimed at strengthening the current wildlife forensic capabilities in South Africa. The donation will help combat wildlife crimes like rhino poaching.
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Cyprus Becomes The Next Card In The Euro Zone Pack To Fall
26 Jun 2012 by Jasmine Stone / No Comments
Cyprus has become the fifth euro zone country to seek emergency funding from Brussels, and it may require a bailout amount worth up to half the size of its economy. We’re not talking the kind of numbers that Spain and Greece have been after, but when half of your economy is looking a bit worse for wear, it’s not ideal.
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Sanlam Helps Moses Start Saving For Lobola
26 Jun 2012 by Seth Rotherham / No Comments
Roses are red, violets are blue, but no matter the colour, Moses needs Lobola! That was the story that Moses Nefale shared with Sanlam as part of his entry to the Sanlam National Start Something Day competition. In a world of uncertainty and unrest, Moses looked back to his roots and decided that it was […]
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Tiffendell Ski Resort To Finally Be Sold In “No Reserve” Auction
25 Jun 2012 by Jasmine Stone / No Comments
More than a year after 2oceasnVibe first covered the story about South Africa’s only ski resort going under the hammer, the resort will finally be sold in a “no reserve” auction on July 12 this year. Now you can really own it. Auction Alliance didn’t crack the nod for this one, so expect everything to be above board.
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