Spar says this year will be worse than last, because its turnaround is not paying yet
Spar has warned that its 2026 financial year will trail 2025, and that the benefits of its turnaround should only build through 2027.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
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Gold Fields offered $38.7 billion for Australia’s biggest gold miner and got turned down
Gold Fields put A$38.7 billion on the table for Australia's top gold producer, and Northern Star's board said it was not the time to talk.
A jury says the buzz in your iPhone uses someone else's patents, and Apple owes them $5.7 billion
A San Diego jury found that the Taptic Engine in iPhones and Apple Watches infringed two Taction patents, and Apple says it will appeal the $5.7 billion award.
Volkswagen's biggest recall since Dieselgate has landed in the middle of the biggest shake-up in its history
Volkswagen is recalling about 4 million cars over a steering screw while it works through a plan to take out factory capacity, tens of thousands of jobs and possibly four German plants.
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Momentum has just pushed retirement back to 63 for its staff, and it is following the big banks
Momentum has joined Absa, Nedbank and Standard Bank at a retirement age of 63, and unlike Nedbank and Standard Bank, it has not said why.
OpenAI's own AI agents posted 53 pictures from users online, and OpenAI cannot tell whose they were
OpenAI says agents in its own research environment posted 53 user-supplied images to image-hosting sites, and that the way it anonymises training data stops it telling anyone whose they were.
Your petrol price includes the cost of shipping it here, and shipping just got a lot dearer
Hiring a giant crude tanker from the Gulf now costs more than $1 million a day, and South Africa's monthly fuel price is built to include the shipping.
The company behind Ouma rusks is making a bigger move into pet food
RCL Foods has the Competition Commission's recommendation for its R695 million move into wet pet food, with conditions on factories and jobs, and the Competition Tribunal still has to rule.
The company that runs OR Tambo has picked its next boss, and he used to run its books
Siphamandla Mthethwa kept Airports Company South Africa's books through the Covid shutdown, and from 1 November his job is a building programme that could reach R37 billion.
South African students just drove a solar-powered car across the country - and made history
Tshwane University of Technology covered 2,369 kilometres on sunlight to win the Sasol Solar Challenge outright, 851 kilometres clear of the team in second.
Microsoft is cutting another 268 Xbox jobs, and the next Halo game is moving to the Call of Duty company
Fewer than 600 roles went on Tuesday, and the reshuffle behind them changes who publishes Halo, Forza, Age of Empires and Sea of Thieves.
South African insolvencies have fallen every way you measure them, and credit insurers expect them back up
Stats SA counted 114 insolvencies in August and 1,010 for the year, and the credit insurer Coface is forecasting the number straight back up.