Microsoft just lost more than half a trillion dollars in a month
The software giant is headed for its worst month since 2008 as investors fret about its massive AI spending, and whether AI will eat its own products.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
From world-beater to worst quarter: the JSE's mining slump
South Africa's gold and platinum miners have tumbled since the Iran war, dragging the JSE to its worst quarter in more than two years, even as the economy holds up.
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South Africa's only aluminium smelter is being sold to an American giant
South32 is offloading almost its entire aluminium business, including the Hillside smelter in Richards Bay, to US producer Alcoa in a deal worth up to R92 billion.
An Abu Dhabi oil giant is closing in on Shell's South African petrol stations
Shell is reportedly near a $1bn (±R16bn) deal to sell its entire South African forecourt network — about 600 stations — to Abu Dhabi's Adnoc. What it means for the petrol market, and for the brand on your corner.
Group Five just came back from the dead, and paid everyone back
After one of the longest business rescues in SA history, Group Five's practitioners have closed the book — with every creditor paid in full. How a construction-bust cautionary tale became the rescue that actually worked.
Why FNB is selling you a loaf of bread for 99 cents
FNB's 99c loaf isn't a supermarket special — it's a banking strategy. From 1 July the bread reward extends beyond Pick n Pay to Boxer. Here's what the bank gets out of your weekly shop.
New vehicle sales roar to a 19-year June high
South Africans bought 54,482 new vehicles in June, the strongest showing for the month since 2007, even as consumer confidence slipped.
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Reserve Bank hints at another rate hike as inflation fears build
Governor Lesetja Kganyago says inflation expectations have crept above the Bank's 3% target, keeping the door open to a further increase on 23 July.
Tax season opens today: what to know about auto-assessments
SARS begins issuing around 6 million automatic assessments from today, with refunds promised within 72 hours where everything is in order.
Vodacom seizes control of Safaricom in R35 billion deal
The Johannesburg-listed group has lifted its effective Safaricom stake to about 55%, taking majority control of the M-Pesa owner in a deal worth roughly R35 billion.
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Fuel prices fall from today, but the levy relief is now gone
Petrol drops around R2 a litre and diesel more than R3 from today, though the full return of the fuel levy takes some of the shine off the relief.
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Takealot turns a profit for the first time in its history
Naspers' full-year results show the Takealot Group swung to a maiden adjusted operating profit, even as Amazon pushes into the South African market.