Apple has a new CEO for the first time in 15 years as Tim Cook steps aside
John Ternus took over on Tuesday, and a filing that landed the same day set out what Apple is paying both men and what it wants from each of them.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Motus bet on South Africa’s Chinese car boom and sales have grown more than 200%
South Africa's biggest dealership group sold barely more last year and made a fifth more profit, and the reasons are a repaid loan book and a changed brand mix.
Shoprite’s CEO explains why rivals would struggle to build their own Sixty60
Shoprite tried grocery delivery the way everyone else does it, gave up on that in 2019, and built a R25.5 billion business off the floors of its own supermarkets instead.
Nedbank has cleared its biggest hurdle to buying a Kenyan bank
The Central Bank of Kenya has approved the R13.9 billion NCBA deal, less than a year after Nedbank finished getting out of West Africa.
South Africa’s biggest retailer has just bought one of the country’s biggest coffee chains
Two South African grocers, one idea, a decade apart: buy the coffee expertise rather than spend years learning it.
Editor’s pick
The Iran war has helped fuel an 83% share price surge for one of South Africa’s biggest companies
Earnings up, debt down, share price up 83%, and no final dividend, because of a threshold Sasol set for itself and missed by $300 million.
South Africa’s R20 billion trade surplus is hiding a much bigger African success story
Exports barely moved. The R20.1 billion surplus came out of a lighter oil bill, and Wednesday's fuel increase is about to make that harder to repeat.
Shein has finally made it onto the stock market, and the shares fell as much as 10% on day one
Four years, three cities and a valuation a quarter of what it once was: Shein listed in Hong Kong on Tuesday and the market was unimpressed.
Eskom's chief financial officer is leaving after 24 years, with a successor wanted before December
Calib Cassim spent Monday morning explaining a 28% discount to ferrochrome smelters, and the same statement said he was retiring after 24 years.
Big story
South Africa’s new petrol prices are in, and it might be time to dust off that old bicycle
The rand had its strongest month in a while and it bought South African drivers almost nothing, because the price at the pump was set by what happened a month ago.
Editor’s pick
Fourteen towns had until today to hand Eskom control of their electricity meters
None of them has signed. The agreement on the table moves the billing relationship, and the money that comes with it, out of the municipality and into Eskom's account.
Big story
An entire African district is being given free money, and economists want to see what happens next
GiveDirectly is handing a one-off lump sum to everyone in a Malawian district, and the experiment is pointed at the shops rather than the households.