MEDIA: National Business News Summary
Recent Gauteng Business News
The Johannesburg Stock Exchange is already down more than 7% in 2010
after it closed on Friday on 25 793 points. There is no need for to much
concern though, as the analyst have been predicting the drop as a
"welcome" correction in response to the market rising to quickly after
the worst of the recession was over.
After a couple of very negative months Vodacom's leadership finally got some news that may alleviate some stress. The trading figures from December 2009 show the company is still strong, highlighted by the 35% increase in data turnover.
The industrial Development Corporation are being sued by Johannesburg businessman Joe Modibane for close to R7.5 billion. He is suing the IDC for allegedly reneging on a deal to sell him more than 35 million shares.
A Bank of America research report has predicted which companies shares will benefit the most from the World Cup this year. They are Bidvest, City Lodge Hotels, Foschini, Imperial, Naspers*, SABMiller, Sun International, Vodacom for reasons that can be found here.
Since the Regulation of Interception of Communications and Provision of Communication Related Information Act (Rica) came into effect Vodacom and MTN have lost as much as R360 million in revenue.
Business News Sector Tags: Media|