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Money
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The Floating Tech Start Up Haven Is Becoming A Reality
10 May 2012 by Jasmine Stone / 2 Comments
Venture capitalist, Peter Theil’s dream of an artificial island utopia for tech start-ups is inching closer to reality off the coast of San Francisco. Riding a wave of investment capital from Thiel, the project has a name – “Blueseed” – and a website, as well as a lengthy lineup of tech companies that want to get on board.
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Apple’s Wealth Visualised, They Have A Lot [INFOGRAPHIC]
08 May 2012 by Jasmine Stone / No Comments
Earlier this month, Apple was briefly the most valuable company in the world, and their cash in hand value currently stands at $76,2 billion. You could literally buy anything with that and still have enough change to buy some more anything. Still struggling? Click through for a look at the National Post’s lovely, informative and aptly named More Money Than God infographic.
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Times Are Tough: Even One Cent Savings Are Celebrated At Pick n Pay
04 May 2012 by Jasmine Stone / 3 Comments
Well at least we know where we are doing our shopping this weekend.
Thanks Richard.
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It’s Probably Not A Bad Idea To Buy Capitec Shares
18 Apr 2012 by Jasmine Stone / 3 Comments
Capitec shares rose to close at a new high of R214,76 yesterday. The bank also recently announced a dividend of 300c per share, showing why it isn’t surprising that analysts have happily placed “buy” recommendations on the stock.
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Cosatu Vows “Mother Of All Protests”
18 Apr 2012 by Jasmine Stone / 4 Comments
“People power has brought down governments in North Africa; it can surely stop this assault on our living standards.” Cosatu has shown it doesn’t mess around when it comes to voicing its opinion. But will the “mother of all protests” against e-tolls actually make any difference?
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Wounded Auction Alliance Slowly Staggers On
26 Mar 2012 by Jasmine Stone / 2 Comments
Rael Levitt is apparently readying himself to expose widespread corruption across the auctioneering industry in an attempt to save himself, but there’s still little word on exactly where he is. All the while, other skeletons seem to be freely emerging from the cupboard too.
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Gauteng Motorists Face Possible 61 Cent Petrol Price Hike
19 Mar 2012 by Jasmine Stone / No Comments
Well, that isn’t good news. Especially with e-tolling getting closer. The projected hike next month would mean an increase of virtually 10 per cent on the current price, and would bring the cost of 95 octane in Gauteng to R11.84 a litre. Comparatively, the average price per litre in the UK is about R16.44.
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First Goldman Sachs, Now JPMorgan Chase; Second Honest Banker Shows Himself
16 Mar 2012 by Jasmine Stone / No Comments
This really is quite something. One might even say a “trend” is occurring. Following the publication of a whistleblowing letter by an ex-Goldman Sachs employee in the New York Times, a second honest banker has emerged. He works at JPMorgan Chase, and wrote his letter to the US Commodity Futures Trading Commission.
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South African Goldman Sachs Exec Exposes The Rot In His Firm
15 Mar 2012 by Jasmine Stone / 1 Comment
Goldman Sachs lost $2,2 billion of its market value yesterday after Greg Smith – a South African-born Goldman “big shot” in Europe – chose to resign and write an opinion piece letter about Goldman’s corporate culture to the New York Times.
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Mandela And Zuma To Face Aurora Music
06 Mar 2012 by Jasmine Stone / No Comments
The liquidators of Aurora Empowerment Systems, which is accused of asset-stripping bankrupt Pamodzi Gold, amongst other dubious activities, will lay charges of fraud this week against Nelson Mandela’s grandson, Zondwa. President Jacob Zuma’s nephew should probably also look forward to facing some music.
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Absa, Nedbank, FNB And Investec Stop Doing Business With Auction Alliance
01 Mar 2012 by Jasmine Stone / 4 Comments
Pending the outcome of investigations into claims of staff receiving kickbacks for preferential treatment, Absa, Nedbank, First National Bank and Investec have all stopped doing business with Auction Alliance. The latest development comes after news broke earlier in the week, that Auction Alliance CEO, Rael Levitt, had relinquished his post.
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D-Day For Greek Bailout
20 Feb 2012 by Jasmine Stone / No Comments
Today, Euro zone finance ministers will meet to decide whether Greece has done enough to warrant a huge bailout loan of €130 billion. Greece needs the loan in order to avoid bankruptcy midway through March, when a massive repayment on its governmental debt must be completed.
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Woolies Wants You To Put All Your Eggs In Their Basket
17 Feb 2012 by Jasmine Stone / No Comments
Woolies wants you to do all of your shopping in their stores, and soon. They don’t want you to pick up a few things and then mosey on down to Pick n Pay or Spar to buy the rest of what you’re after, because it’s cheaper. Woolies have a vision: they’ll make those things cheaper because they’re opening bigger supermarkets.
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Murray And Roberts Will Build Cape Town’s Tallest Building
16 Feb 2012 by Jasmine Stone / 2 Comments
Cape Town’s new tallest building is set to start taking shape as construction group Murray and Roberts have been awarded the R1,6 billion contract to build the Portside Project. It’s set to stand at 130 metres tall, comprising of 32 floors, and will house 52 000 square metres of office space for 3 000 people.
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SAA: Please May We Have R6 Billion?
15 Feb 2012 by Jasmine Stone / 1 Comment
South African Airways has asked the government, sorry, the taxpayer that doesn’t get a say, for a recapitalisation of about R6 billion to fund operational costs, growth strategy and a fleet renewal for the coming future. Why? Because it would post a loss this financial year if this doesn’t happen, and growth is important.
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Google’s Motorola Purchase Pretty Much Approved
14 Feb 2012 by Jasmine Stone / No Comments
American and European regulators have approved Google’s purchase of handset maker Motorola Mobility. The deal is worth a reported $12,5 billion and Google is said to be pleased at acquiring 17 000 new patents, and a further 7 500 patent applications as part of the deal.
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The iPad Outsold Desktop PC’s During The Last Quarter Of 2011
25 Jan 2012 by Jasmine Stone / No Comments
Apple announced some massive fourth quarter sales numbers yesterday. For instance, they sold virtually as many iPhones as there are people in South Africa during that period. Apple also doubled both revenue and profit year-on-year too.
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Greece Publishes Tax Dodger List
24 Jan 2012 by Jasmine Stone / 1 Comment
Greeks are amongst the most notorious tax dodgers in the world. Currently, Greece has about 60 billion Euros in unpaid taxes outstanding – a figure equivalent to about a quarter of its total economy. Athens decided to release a list on Sunday that published the names of some of the 4 000 known dodgers.
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Banking Mistake Leaves Indian Teacher With R78billion Balance
19 Jan 2012 by Jasmine Stone / 2 Comments
Why does this never happen to me? Why can’t my bank make these kinds of mistakes? A man in India was recently given the shock of his life when he checked his bank balance online and found out that he was the sudden recipient of 980 billion rupees – roughly R78 billion.
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Alan Knott-Craig Is The New CEO Of Cell C
19 Jan 2012 by Jasmine Stone / 1 Comment
We all know who Alan Knott-Craig Jnr is. He’s the guy who bought MXit, owns World of Avatar, and made it possible for you to buy Vida with your cell. His father, Alan Knott-Craig Snr, has just been appointed as the CEO of Cell C. This could mean some very interesting developments in the telecoms industry.
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Kodak Declares Bankruptcy
19 Jan 2012 by Jasmine Stone / No Comments
It’s official – after weeks of speculation on Wall Street, the once iconic and innovative film company has run out of money. Kodak filed for bankruptcy today, after failing to survive a liquidity crisis following a massive decline in the sales of the very thing it pioneered in the first place – film.
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Hackers Steal R42 Million From SA Post Office’s Postbank
16 Jan 2012 by Jasmine Stone / No Comments
While the rest of the country was enjoying their New Year celebrations, a group of cyber hackers was also enjoying theirs. The National Intelligence Agency has launched an investigation after a cybercrime syndicate managed to steal R42 million from SA Post Office financial institution, Postbank.
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The R12 000 Business Card – Laced With Diamonds
13 Jan 2012 by Jasmine Stone / 1 Comment
How do you know if you’ve succeeded in life or in business? It’s not the Ferrari, the house in Bishopscourt or the kids in private school. It’s being invited by Black Astrum to have them make business cards for you – for the cost of R12 000. Per card. No spice.
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British Banks Scrap Foreign Currency Debit Card Exchange Fees
20 Dec 2011 by Jasmine Stone / No Comments
Banks know they make too much money, and South African banks could learn a thing or two from this. Five of the UK’s biggest banks, including Lloyds, Barclays and RBS, as well as other credit card companies, have agreed to scrap the charges associated with buying currency with a card while abroad.
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Investec Establishing €100 Million Energy Fund
02 Dec 2011 by Jasmine Stone / No Comments
Investec has joined forces with the European Investment Bank to establish a funding facility that will promote energy efficiency and the generating of clean energy in South Africa. The venture will be rolled out to support various kinds of renewable energy projects across the country.
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Western Union Brings Back The Singing Telegram
01 Dec 2011 by Jasmine Stone / No Comments
Back in the day, people used to send each other messages using something they called the telegram. For the singing telegram, a real person actually used to call you up or come to your home and sing to you. Money transfer giant, Western Union, is bringing the singing telegram back and plans to get users involved: karaoke-style.
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Say Adios To The Five Cent Coin, Folks
24 Nov 2011 by Jasmine Stone / No Comments
From April next year, the SA Treasury will cease production of the current five cent coin and will issue a new look 10 cent coin that is more cost effective to produce.
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Lil Wayne’s SA Tour Will Be A Sober One
07 Nov 2011 by Jasmine Stone / No Comments
Looks like the only bottles in da club for Lil Weezy will be the ones filled with mineral water. Following his recent conviction for drug possession, the rapper isn’t allowed to consume alcohol or associate with anyone knowingly engaged in narcotics – good luck. Let’s see if he can last longer than (Camps Bay) “twenty minutes my broda”.
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India Launches World’s First Gold And Diamond Jewelery ATM
31 Oct 2011 by Jasmine Stone / No Comments
The machine, devised by a company called the Gitanjali Group, was launched at a central Mumbai shopping mall for the annual Hindu festival of lights, Diwali, on Wednesday. Prices range anywhere from R400 to R5 000, just in case you have that lying around for some last minute gifts.
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Greece Is Very, Very Lucky
28 Oct 2011 by Jasmine Stone / No Comments
European leaders are secretly all doing little victory dances. The Eurozone crisis has never looked better. Leaders have agreed new deals that slash Greek debt and increase the main bailout fund to around €1 trillion. They’re basically printing money. Athens will get a new €100 billion bailout early in the new year, and existing bond debt will be cut by 50%.
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