Stripe just made a $53bn move on PayPal
Stripe and buyout firm Advent have offered $60.50 a share for PayPal — a 28% premium worth more than $53 billion — in a rare bid by one payments rival for another.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Buffett wants his fortune gone in eight years — and Gates is off the list
Warren Buffett says he'll give away his entire Berkshire Hathaway stake within about eight years — and has quietly left the Gates Foundation off the list for the first time in two decades.
The Creamery was closing — then the buyers showed up
Days after Food Lover's said it would shut ice-cream chain The Creamery, it says several parties have approached about buying the 15-year-old brand.
Big story
Inflation is about to cool. Bank of America still expects a hike next week
The US lender expects the Reserve Bank to lift the repo rate another 25 basis points on 23 July, arguing that rising inflation expectations — not the oil price — are now the real risk.
Big story
FlySafair found a buyer. The regulator found a catch
South Africa's competition watchdog has backed the sale of the country's biggest budget airline to infrastructure investor Harith, on condition it plays fair at the airport it part-owns.
EasyEquities is buying the AI it already runs on
Purple Group is paying up to US$10.75 million for Telescope AI, the Australian company whose technology already builds baskets for EasyEquities clients.
The fund that guards the nation's pensions just benched its boss
South Africa's biggest investor has suspended chief executive Patrick Dlamini while it examines whistleblower allegations, deepening a leadership crisis at the manager of more than R3-trillion in state money.
Nearly every paying Sixty60 shopper is letting an app fill the trolley
Shoprite says 98% of paying Sixty60 members have used Pixie, its swipe-to-shop assistant, three months after launch, though the eye-catching numbers are the retailer's own.
Transnet wants 1,000 guards and a drone fleet to stop the copper thieves
A new twelve-month tender would put more than a thousand guards, K9 dogs and water-resistant drones on Transnet's central rail corridor, where thieves and vandals strike about nine times a day.
Tharisa's output rebounds just as the prices it sells slip
The platinum and chrome miner lifted quarterly output of its precious metals by 15.5% after weather setbacks, keeping full-year targets in reach despite softer prices and heavy spending.
Big story
De Beers is switching off South Africa's biggest diamond mine for two years
De Beers will suspend production at Venetia, its flagship Limpopo mine, for two years — and on the same day, one of the leading bidders for the company walked away.
Big story
Woolworths brings an AI chef to your grocery run, but you'll have to wait for it
My Woolies Chef turns "what's for dinner?" into a ready-to-buy basket, arriving after Checkers and Pick n Pay have already switched their own assistants on.