Business In The News

Barclays agrees to pay R15bn to separate from African arm

CAPE TOWN – Barclays Africa on Thursday said the terms for its operational separation from UK-based Barclays PLC had been agreed, including separation contributions from Barclays PLC of around R14.9 billion, which includes provision for a broad-based black economic empowerment scheme. The separation contribution is expected to “neutralise the capital and cash flow impact of […]

Business In The News

Kumba Iron Ore earnings soar

JOHANNESBURG – Kumba Iron Ore pointed to a set of key interventions that reset the cost base and preserved cash as headline earnings per share (HEPS) increased by 131 percent to R27.30 for the year ended in December 2016, compared to R11.82 the previous year. Kumba, a subsidiary of Anglo American, said controllable costs were […]