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Glencore shrinks job of billionaire copper head amid Congo probe
Published: 15 Jan 18
Glencore reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management. Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of CEO Ivan Glasenberg for more than a decade, will lose control of industrial copper operations including mines and focus on the trading side of the business, according to people familiar with the plans.
Autonomous driving in SA faces pedestrian, road sign challenges, finds Merc Has Video
Published: 15 Jan 18
It may surprise the taxi haters, but South Africa is not the most challenging country to sit behind the wheel of a vehicle in self-driving mode. The winner is China, with its sometimes erratic cyclists, lack of lane markings and confusing traffic signals. Mercedes-Benz at the end of last year visited Cape Town as the fourth stop in its five-continent Intelligent World Drive tour, aimed at gathering insight into real-life traffic conditions and road user practices in different countries.
China's State-owned coal firms target 12.65Mt of capacity cuts – Xinhua
Published: 15 Jan 18
China's central government-owned enterprises will target coal capacity cuts of 12.65-million tonnes in 2018, the official Xinhua news agency reported on Monday. The Xinhua report, which followed a meeting of the heads of companies controlled by China's State-owned Assets Supervision and Administration Commission (Sasac), said elimination of coal-fired power generation capacity would also be actively encouraged.
Greatland shares in free fall on Newmont's exit from Australia project
Published: 15 Jan 18
Shares in Aim-listed junior Greatland Gold fell sharply on Monday, as the precious and base metals firm announced that Newmont Mining had pulled out of the Ernest Giles project, in Western Australia. Greatland said in a market announcement that Newmont would not be proceeding with the Ernest Giles project at this time, as the NYSE-listed group’s “corporate priorities are largely focused in on other districts”.
 Public engagements on SA's national minimum wage set to resume Public engagements on SA's national minimum wage set to resume
Published: 15 Jan 18
The Department of Labour will this week resume its national series on worker engagement about the implementation of the national minimum wage and amendments to labour legislation. The national minimum wage of R3,500 a month, or R20 per hour for major sectors, is scheduled for implementation from 1 May 2018 as agreed at the National Economic Development and Labour Council (Nedlac), with the exception of sectors such as farm workers, and domestic workers.
Airbus reports that 2017 was another record year for airliner deliveries Airbus reports that 2017 was another record year for airliner deliveries
Published: 15 Jan 18
Airbus Commercial Aircraft, the airliner manufacturing arm of European aerospace giant Airbus Group, announced on Monday that last year it had set a new company record for annual deliveries of aircraft. These totalled 718 aeroplanes to 85 customers and amounted to a 4% increase over the 688 delivered in 2016, which was the previous record year. Moreover, the company secured 1 109 net orders from 44 customers during 2017. By the end of the year, its total order backlog stood at 7 265 aircraft, worth $1.059-trillion at list prices. As a result, Airbus has a book-to-bill ratio of 1.5 (that is, the ratio of orders received to units delivered and invoiced – “billed” – over a specific period; a ratio of more than 1 shows that demand is strong). “A new Airbus delivery record coupled with our fifth best order intake wraps up a remarkable year for us,” affirmed Airbus Group Chief Operating Officer and Airbus Commercial Aircraft President Fabrice Brégier. “This outstanding achievement is testimony to the dedication of all our teams, and makes the company fitter, stronger and ready for the opportunities ahead.”
 PPF warns CPS over its claims of over a R1bn from Sassa PPF warns CPS over its claims of over a R1bn from Sassa
Published: 15 Jan 18
The Progressive Professionals Forum (PPF) said on Monday it was alarmed about service provider Cash Paymaster Services’ (CPS's) claim of more than R1-billion from the South African Social Security Agency (Sassa). CPS is reportedly claiming R1.3-billion from Sassa over what it has called a breach of the terms of a contract to process social grant payments after Sassa said beneficiaries would now receive their grants through commercial banks.
South Africa white maize futures scale 11-month peak on hot, dry conditions South Africa white maize futures scale 11-month peak on hot, dry conditions
Published: 15 Jan 18
South African white maize futures prices hit 11-month highs on Monday as a spell of hot, dry weather raised concerns about plantings and yields over a swathe of the maize belt. Maize is South Africa's staple crop and policy makers such as the central bank, which will meet later this week on interest rates, monitor its price because of its implications for inflation, especially for lower-income households.
SA Reserve Bank likely to keep repurchase rate unchanged this week – economists
Published: 15 Jan 18
The South African Reserve Bank is likely to keep its repurchase rate at 6.75 percent this week, although it will probably lower its consumer inflation projections, financial group Investec said at the weekend. The Sarb is set to announce its decision on the repo rate on Thursday after a two-day meeting of its the Monetary Policy Committee (MPC), the first of six scheduled for 2018.
Aspen Pharmacare to start selling its infant formula milk Alula in China
Published: 15 Jan 18
South African multinational pharmaceutical drug maker, Aspen Pharmacare, said on Monday that it would start distributing its infant formula milk in China. This comes after the China Food and Drug Administration (CFDA) announced on Friday that it had approved the registration of Aspen's infant milk formula brand, Alula. In October, Aspen launched Alula in China through a joint venture.
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