Domino’s pizza deal leaves a bad taste – BDlive

FOR 18 months, Domino’s Pizza negotiated with a local consortium to open the world’s biggest pizza-delivery chain in South Africa, but then made a sudden about turn and announced a deal with Taste Holdings instead, court documents show. The local consortium, now a Mauritian-registered company called International Foodservice Concepts (IFC), has now lodged court papers revealing e-mails between it and senior Domino’s executives to show that the deal was all but complete, except for the final signature. IFC is made up of three prominent businessmen — RJ van Spaandonk, Rodney Ichikowitz and Keith Warren. Warren was the general manager for Africa of KFC-parent Yum! Restaurants International, responsible for building the chicken franchise on the African…

Clicks forecasts higher earnings with growth strategy – Mail & Guardian Online

Despite weak consumer spending, Clicks Group has forecast higher earnings per share as it plans to open 25 new stores. Clicks Group plans to tap into a growing trend of self-medication and generics. (Reuters) Beauty and pharmaceutical retailer Clicks Group forecast higher earnings this year as the opening of 25 stores will help offset weak consumer spending. Diluted earnings per share excluding one-time items will rise 8% to 12% in the year through August, the Cape Town-based company said in a statement on Thursday. EPS on that basis gained 10% to 157.4 cents in the six months through February as first-half sales rose 9.6% to R9.3-billion ($ 878-million), Clicks said. The South African “consumer condition…

Adcock Names Bidvest Travel and Aviation Head Wakeford as CEO – Businessweek

Adcock Ingram Holdings Ltd. (AIP), South Africa’s biggest maker of hospital products, appointed Bidvest Group Ltd. (BVT)’s Kevin Wakeford as chief executive officer after naming the same company’s CEO as its chairman. The appointments follow a 10-month fight for control of Adcock between Johannesburg-based Bidvest and Chilean drugmaker CFR Pharmaceuticals SA. (CFR) CFR called off its 12.8 billion rand ($ 1.2 billion) cash and stock offer on Feb. 7 after Bidvest built a 34.5 percent stake that enabled it to block the bid. Bidvest CEO Brian Joffe was named Adcock chairman on Feb. 26. Wakeford, whose appointment is effective immediately following the resignation of former CEO Jonathan Louw earlier this week, has headed Bidvest’s travel…

S.Africa platinum strike causing ‘irreparable’ harm – AFP

S.Africa platinum strike causing ‘irreparable’ harm (AFP) – 23 minutes ago  Johannesburg — South Africa’s platinum producers Monday said a two-month strike was causing “irreparable” damage to the sector, which has to date lost nearly a billion dollars in revenue. The strike over wages which started over eight weeks ago has halted production at the world’s top three producers, Anglo American Platinum, Impala Platinum and Lonmin. “The extended strike in the platinum belt is unprecedented, and at a stage where some of its impacts are becoming irreparable,” the chief executives of the three companies said in a joint statement. They said the strike has so far resulted in “close to 10 billion rand ($ 920…

Princess Vlei U-turn – Independent Online

INLSA The vlei has long been used for ceremonies and recreation. Photo: David Ritchie Related Stories   Cape Town – The City of Cape Town has done an about-turn on its decision to sell part of Princess Vlei to mall developers, putting an end to a contentious issue that has dragged on for more than 15 years. The city told Weekend Argus exclusively that it would on Saturday announce its decision to shelve the proposed mall, adjacent car park and taxi rank. The plans were strongly opposed by environmental lobby groups and residents of neighbouring working-class suburbs who use the green area for ceremonies and recreation. The development of the land, which is of historical…

BUSINESS DAY TV: No instant solution in platinum sector – BDlive

JOHAN Theron is group executive of corporate relations at Impala Platinum. BUSINESS DAY TV: With the Amcu (Association of Mineworkers and Construction Union)-led strike set to kick off on Thursday … some of the world’s largest platinum companies don’t seem to be leaving anything to chance. Earlier Lonmin told Business Day TV that they’d beefed up security at their operations for the safety of their employees. We’ve heard that Impala Platinum has decided to suspend all operations. Joining us on the line with more on this is Johan Theron, group executive of corporate relations at Impala Platinum. We’ve had some mixed reports today, whether you are going to be closing all of your operations or…

Zimbabwe mining royalties, dividends to fund new SWF – Reuters

Mon Jan 13, 2014 10:22am EST * Up to 25 pct of royalties, dividends to fund SWF * Mugabe will be trustee, patron of wealth fund HARARE Jan 13 (Reuters) – A proposed sovereign wealth fund in Zimbabwe will be bankrolled by as much as a quarter of royalties and special dividends earned on minerals such as diamonds, gold and platinum, according to a draft bill seen on Monday. Finance Minister Patrick Chinamasa said in October Harare planned a sovereign wealth fund law by February but hinted at the time the government might not have any money at first due to the need to overhaul crumbling infrastructure. But a Sovereign Wealth Fund of Zimbabwe Bill…

E-toll word war mounts – ITWeb

Redirect Notice  The previous page is sending you to http://www.itweb.co.za/index.php?option=com_content .  If you do not want to visit that page, you can return to the previous page. Business – Google News

Graham Mackay, SABMiller CEO Who Built Global Brewer, Dies at 64 – Businessweek

Graham Mackay, the executive who built SABMiller Plc into the world’s second-biggest beermaker, has died. He was 64. Mackay passed away this morning with his family at his side, the London-based company said today in a statement. The native South African stepped down as chief executive officer following surgery for a brain tumor on April 22. He resumed his role as non-executive chairman on Sept. 5, before again stepping back last month. “Graham was a titan in the brewing industry,” Trevor Stirling, an analyst at Sanford C. Bernstein in London, said by phone. “He was at the helm in the formative years when the company transformed from being leader in one emerging market to become…