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.
Companies
The deals, results, leadership and strategy of the companies shaping South Africa.
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.
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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.
Old Mutual is back in Zimbabwe, and this time it's counting in dollars
Six years after its shares were frozen, the insurer is moving its Zimbabwe listing to a young, dollar-only exchange, betting the currency risk is finally worth shedding.
A tax court unpicked Stor-Age's clever 2017 deal, and dealmakers are paying attention
A judge found the structure Stor-Age used to buy a rival was really a share sale dressed up to cut tax, in a ruling lawyers say could reshape how mergers are taxed.
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Absa's big-bank dream meets a market that's selling
CEO Kenny Fihla wants to build "the J.P. Morgan of Africa," but investors have knocked about 10% off Absa this year.
Apple takes OpenAI to court over its unreleased hardware
The iPhone maker says former staff carried its secrets to OpenAI, and that the AI firm's new device is built on them.
Edgars is opening 50 stores by first getting smaller
Six years after its parent collapsed, the 97-year-old retailer is expanding again on a shrink-to-grow plan.