Other News

Rio Tinto settles USD2.5 billion bond notes
Global

Rio Tinto settles USD2.5 billion bond notes

Rio Tinto, the world’s largest producer of Iron Ore said it has cut down its debt by uSD2.5 billion by completing its bond tender and redemption exercises. The nominal value of its outstanding bonds from has been cut from approximately USD21 billion to about USD9.5 billion. The company disclosed that […]

What do you need to know about Bonds?
Titbit

What do you need to know about Bonds?

Bonds, stocks and cash equivalents are the three main genetic asset classes. Bonds are also known as fixed-income securities, a bond is a debt investment in which an investor loans money to an entity either corporate or governmental which borrows the funds for a definite period of time at a fixed interest […]

Danie Botes, CEO of MMI Holdings resigns
JSE SENS

Danie Botes, CEO of MMI Holdings resigns

A sudden wave of resignation has hit MMI Holdings as Chief Operating Officer Danie Botes and Chief Executive of Momentum Retail Etienne de Waal have resigned to pursue other interests. The company said Both Danie and Etienne were with the group for more than 20 years and leave a lasting […]

Millicom closes USD300 million loan in Colombia
Global

Millicom closes USD300 million loan in Colombia

Swedish telecom group, Millicom International Cellular S.A. said its subsidiary Colombia Movil has raised USD300 million syndicated loan. Millicom said the loan, denominated in US dollars, carries an interest rate of 250 basis points over LIBOR and has an average maturity of 4.5 years. The Colombian unit of the group […]

Canada’s Bombardier to cut 2,200 jobs
aviation

Canada’s Bombardier to cut 2,200 jobs

Canadian aircraft maker, Bombardier said it will cut around 2,200 jobs at its German operation which is about a quarter of its total workforce in the country. According to Reuters, Most of the jobs would be cut at the company’s plants in Henningsdorf near Berlin and Goerlitz on the German […]

Altaba buys back its shares at USD53.20
Tech

Altaba buys back its shares at USD53.20

Altaba, formerly known as Yahoo Inc., has announced the result of its share buyback programme of USD3 billion. The share buyback was done via a “Dutch auction” self-tender offer to purchase up to $3.0 billion of shares of its common stock, which expired at 11:59 p.m., New York City time, […]

Red Star donates relief materials to IDPs in Adamawa
Pursuits

Red Star donates relief materials to IDPs in Adamawa

Red Star Foundation has donated some relief materials and food to internally displaced persons (IDPs) living in Malkohi camp located about forty kilometers away from Yola the Adamawa State capital. In a release available to PageOne.ng, the Adamawa State Emergency Management Agency (ADSEMA) on receiving the materials on behalf of the state government, commended Red […]

Eskom appoints Johnny Dladla as acting Group CEO
JSE SENS

Eskom appoints Johnny Dladla as acting Group CEO

The Eskom Board wishes to announce the appointment of Mr Johnny Dladla as acting Group Chief Executive with immediate effect. This follows intense consultations between the Minister and Eskom Board to arrive at a prudent choice. Both parties are of firm belief that Dladla’s experience and expertise will stabilize Eskom […]