Porsche is expanding its iconic 911 lineup with the introduction of a hybrid 911 Turbo set to debut in 2025. This new model will utilize battery cells sourced from Varta, alongside the upcoming electrified GTS, which is expected to hit the market by the end of this year. While Porsche has no plans for a fully electric 911 this decade, the hybrid variant will enhance the 911’s performance. The announcement was confirmed by Porsche’s CFO during a recent conference call discussing Q3 2024 sales, indicating a strengthened partnership with Varta, including Porsche’s acquisition of a majority stake in V4Drive Battery…
Author: Staff Writer
Altron has nearly doubled its market value in 2024, with its share price rising over 80% since January. Currently trading at R18.15, the stock has rebounded significantly following the unbundling of its former subsidiary, Bytes Technology, which previously peaked at R34.60. The successful separation of Bytes created R13 billion in value for shareholders, but uncertainty about Altron’s future without the UK unit lingered. However, under the leadership of CEO Werner Kapp, the company has adopted a strategy that has positively influenced market sentiment. Over the past year, Altron’s shares have surged by 126.03%, resulting in a market capitalization of R7.41…
Adidas is set to gain a €100 million (about R1.8 billion) boost following the settlement with Kanye West, now known as Ye, after a series of lawsuits stemming from their partnership’s abrupt end. The conflict arose after controversial comments made by West led Adidas to terminate their collaboration under the Yeezy brand. During a press call, Adidas CEO Bjørn Gulden announced that both parties agreed to drop all claims, stating no payments were owed between them. This settlement allows Adidas to unwind previous legal provisions, enhancing its operating profit. Last year, the loss of the Yeezy line significantly impacted Adidas,…
According to the newly released GIBS October Health Workplace Well-being Report 2024 mental health challenges, including stress, anxiety, and burnout, are common across South African workplaces. It also notes that the stigma attached to experiencing mental health challenges still prevents many employees from disclosing and addressing their well-being issues. Employees may also struggle with issues related to work-life balance, chronic fatigue, and feelings of isolation or loneliness, especially in remote or hybrid work settings. In some cases, employees are suffering in silence because there is a significant lack of supportive workplace policies. The report is a collaboration between October Health and Gordon Institute of…
Alphabet, the parent company of Google, reported a remarkable 34% increase in net income for the third quarter, reaching $26.3 billion. This surge was driven by significant growth in cloud computing, with Google Cloud’s revenue climbing 35% to $11.4 billion. Overall revenue rose 15% to $88.3 billion, surpassing analysts’ expectations. The company’s advertising segments also performed well, with search and YouTube revenues increasing by 10% and 12%, respectively. Alphabet’s shares rose over 5% in after-hours trading, reflecting investor optimism after the company achieved a market capitalization of approximately R40 trillion ($2.1 trillion), making it the fourth most valuable publicly traded…
McDonald’s has reported a larger-than-expected drop in sales, reflecting a continuing decline in demand despite efforts to attract customers with value meals. Consumer spending has slowed in the U.S., Europe, and China, as individuals seek cheaper meal options or prefer dining at home due to ongoing food inflation. In the third quarter, global sales at locations open for at least a year fell by 1.5%, marking the largest decline in four years and exceeding analyst forecasts. This follows a 1% drop in the previous quarter, resulting in two consecutive periods of contraction for the first time since the height of…
Kia has officially unveiled the 2025 Tasman, its first-ever pickup truck, designed to compete with the Ford Ranger and Toyota Hilux. The Tasman will launch in markets like South Korea, Australia, the Middle East, and Africa. This midsize truck will offer both single- and double-cab configurations, along with a customizable chassis cab for business owners. The Tasman features a distinctive design, highlighted by vertical headlights and a bold front fascia. It employs a body-on-frame construction, setting it apart from unibody competitors like the Maverick. Inside, the cabin combines ruggedness with a modern feel, featuring a triple-screen setup that includes a…
“There is a problem with ESD programmes in South Africa. We are finding out the nature of the problem and what can do about it,” noted Professor Kerrin Myres. South Africa has developed a substantial framework for supporting small, medium, and micro enterprises (SMMEs) over the past two decades, with various enterprise and supplier development (ESD) initiatives aimed at aiding historically disadvantaged individuals. Despite these efforts, which are valued at R20 billion to R30 billion annually, there has been insufficient evaluation of their long-term effectiveness for SMME sustainability. To address this, Edge Growth partnered with the Responsible Finance Initiative and…
De Beers, South Africa’s oldest mining company, is championing inclusivity in the diamond industry through a new business development program. This three-year initiative invites entrepreneurs to receive training and mentorship in diamond beneficiation, jewellery design, manufacturing, and retailing, aiming to elevate local talent. Successful participants may even become De Beers sightholders, purchasing rough diamonds at auctions. In partnership with Raizcorp, this program is part of De Beers’ broader strategy to transform the local diamond sector while contributing to the South African economy. The initiative aims to empower entrepreneurs with essential skills for building sustainable businesses. Despite these positive developments, De…
President Bola Tinubu is currently in discussions with key stakeholders in the oil industry, including business magnate Aliko Dangote, regarding the sale of crude oil and refined products in naira. The meeting, which also includes Finance Minister Wale Edun, aims to assess the implementation of a new policy that began on October 1. As Minister of Petroleum Resources, President Tinubu oversees the country’s petroleum sector. Since the policy’s launch, the Nigerian National Petroleum Corporation (NNPC) is expected to supply approximately 385,000 barrels per day of crude oil to the Dangote Refinery, with payments made in naira. In exchange, the refinery…