African Bank's buying spree has caught up with it as job cuts announced
The lender wants to cut up to 1,200 jobs and close 90 branches after acquisitions left its costs running ahead of its income.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Coronation is walking away from the world's hottest trade
The R773 billion manager has cut its bet on AI chipmakers and moved the money to India, warning the price of hope has climbed too high.
More South Africans are planning for retirement, but far fewer are ready for it
FNB's latest survey finds a jump in retirement planning — and a warning from those already retired that it costs far more than they budgeted.
Big story
Cartrack’s subscriber growth sped up when many expected it to slow down
A record 142,472 new subscribers in three months pushed owner Karooooo to record profit — even as a stronger rand worked against it.
South Africa's tech jobs are going unfilled — and it isn't only about degrees
Recruiters say most IT applicants don't meet the bar for the roles on offer, but others argue the real gap is experience, not qualifications.
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Absa is bankrolling electric cars, and quietly staging a comeback
A BYD finance deal and a set of much-improved results are two halves of the same turnaround story.
Big story
One entrepreneur's plan to let firms buy their way to a BEE score
Alan Knott-Craig wants companies to pay 3% of revenue for automatic empowerment credentials. Not everyone calls it a levy.
Netflix just put a $587m price tag on Hollywood's AI anxiety
A regulatory filing reveals what Netflix paid for Ben Affleck's AI startup, and what the tools actually do.
Sasol is riding the oil spike, and the Reserve Bank is watching
A collapsed Middle East ceasefire has lit a fire under oil, Sasol shares and the odds of another rate hike.
Why the mood in commercial property just soured overnight
FNB's brokers went from upbeat to gloomy in a single quarter as war-driven costs and rate fears bit.
The foreigners quietly buying up Cape Town's priciest streets
Overseas buyers have poured R153bn into Cape Town homes in a decade, and they are clustered right at the top of the market.
Uber wants to own takeaways almost everywhere, and it's buying Delivery Hero to do it
Uber's ~$14.8bn cash offer for Delivery Hero would fold Glovo, foodpanda and talabat into its empire, with a Glovo-shaped thread running through Africa.