Nasdaq Powers to Record High on Tech, Media Gains

Nasdaq Powers to Record High on Tech, Media Gains

Tech stocks and media companies powered the Nasdaq Composite to a record high on Wednesday, while the Dow Jones Industrial Average posted a seventh consecutive loss, the longest stretch in 15 months as tariff jitters continued to weigh. The Nasdaq climbed out of the gate, with gains driven by 21st Century Fox (FOX, FOXA) which rose 7.3% and 7.5% after Walt Disney (DIS) upped its bid for the company following […]

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Fin24.com | Heavyweight new director for Datatec

Fin24.com | Heavyweight new director for Datatec

Johannesburg – International ICT solutions and services group Datatec Limited has appointed a new director to join the company from June 01, 2018. Ekta Singh-Bushell will join Datatec as an independent non-executive director, the group announced on Thursday. She will also be a member of the Audit, Risk & Compliance Committee and Social and Ethics Committee.  She has served on public and private corporate boards, including as COO of the […]

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Fin24.com | WATCH: Cars that brake all the rules

Fin24.com | WATCH: Cars that brake all the rules

Driverless cars promise a safer ride, with fewer crashes – by removing human error from the equation. But it may be premature to expect complete safety, experts say. In South Africa, more than 25 road deaths per 100 000 people were reported in 2016. A total of 14 071 people died on South African roads from January to December 2016, a 9% increase on the previous year.  Claims that self-driving cars […]

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Fin24.com | Cambridge Analytica to face Facebook users in bankruptcy

Fin24.com | Cambridge Analytica to face Facebook users in bankruptcy

Cambridge Analytica, the UK political consulting firm that closed its doors after a scandal over how it harvested data to influence the last US presidential election, now faces a group of Facebook users in its bankruptcy. “Data Breach Plaintiffs” filed a notice on Tuesday to appear in the company’s New York bankruptcy. The group is involved in two lawsuits against both Facebook and Cambridge Analytica that seek class-action status on […]

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Fin24.com | Uber seeks 18-month permit to operate in London – reports

Fin24.com | Uber seeks 18-month permit to operate in London – reports

Uber is seeking an 18-month permit to operate in London as the company battles the city’s transport regulator to keep offering rides, according to a person familiar with the talks. The suggestion dates back to April, when Uber was giving evidence to London’s Westminster Magistrates’ court, and no formal application has been made, said the person, who asked not to be named because the discussions are private. The company posited […]

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Fin24.com | Gauteng firm probed in R1bn crypto scam threatens to sue Hawks

Fin24.com | Gauteng firm probed in R1bn crypto scam threatens to sue Hawks

Cape Town – A Bitcoin company fingered by the Hawks for being part of a major investment scam has threatened to sue, unless the priority crime investigating unit retracts its statement.  Lawyers representing BitCaw Trading stated on Monday that the company was not aligned to BTC Global, as the Hawks claimed in their media release on Friday.  The laywers said that BTC Global was a “completely separate entity”. This comes […]

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Fin24.com | MTN clinches deal to take Cell C roaming contract from Vodacom

Fin24.com | MTN clinches deal to take Cell C roaming contract from Vodacom

MTN [] will replace its cross-town rival Vodacom [] in a network-sharing deal with Cell C, South Africa’s third-largest mobile phone operator. Cell C, which has roamed on Johannesburg-based Vodacom’s network since 2001, will switch to MTN from next month, Cell C chief executive officer Jose dos Santos said in an email. The bulk of services will be transferred within two months and will allow the operator to offer 3G […]

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Fin24.com | PIC to probe Ayo purchase process

Fin24.com | PIC to probe Ayo purchase process

The Public Investment Corporation is looking into how Africa’s biggest money manager decided to spend R4.3bn to back last year’s initial public offering of IT company Ayo Technology Solutions. The PIC, which manages South African state-worker pensions, paid R43 a share for a 29% stake, valuing Ayo at R14.8bn even though its assets were estimated at R292m. That was at the top of an issue price range of R28 to […]

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Fin24.com | Global electric car sales up over 50% in 2017: IEA

Fin24.com | Global electric car sales up over 50% in 2017: IEA

Electric car sales around the world rose by 54% in 2017, taking global stock across the three-million threshold, the International Energy Agency (IEA) said in a report on Wednesday. In China, the world‘s biggest market for electric vehicles, sales also grew by about half – but their market share remained small at 2.2%. In Norway electric vehicles have by far the world‘s highest market share, but even there it is […]

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Fin24.com | Facebook said to be a lot more ‘pessimistic‘ since data scandal

Fin24.com | Facebook said to be a lot more ‘pessimistic‘ since data scandal

Facebook has developed a “much sharper and more pessimistic view” of all the bad things that can happen on the social network since the Cambridge Analytica data leak scandal, said its chief technology officer Mike Schroepfer. Facebook’s focused in the past on getting its product to as many people as possible, then fixing whatever issues come up. But it’s rethinking its approach amid a global backlash: critics accuse its news […]

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Fin24.com | Nintendo harnesses power of Pokemon, smartphones and switch

Fin24.com | Nintendo harnesses power of Pokemon, smartphones and switch

Nintendo is bringing together the magnetic appeal of Pokemon, smartphones and the Switch console into an interlinked gaming experience. Pokemon: Let’s Go Pikachu and Pokemon: Let’s Go Eevee were unveiled by the Kyoto-based video-game maker on Wednesday. They’re designed to capitalise on the blockbuster success of the Pokemon Go smartphone game and a solid year of sales for the Switch tablet-hybrid gaming machine. The two new games go on sale […]

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Fin24.com | Net 1 asks court to tell government to release funds

Fin24.com | Net 1 asks court to tell government to release funds

Net 1 UEPS Technologies , the company behind Cash Paymaster Services (CPS) which used to run the country‘s social grant payment system, has asked the chief justice to order the welfare agency to release money to CPS, under conditions it suggested be recommended by the government after CPS said it would struggle to keep operating amid a dispute over fees. CPS said in court papers dated May 11 that it needs […]

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Fin24.com | Google challenges South Africans to build a better society

Fin24.com | Google challenges South Africans to build a better society

Google is challenging South Africans to make the country better as it launches a programme to improve communities. The search and internet giant launched the in South Africa, aimed at non-profit and social organisations to create economic opportunities in their communities. Organisations have until July 4 to apply with their proposals. Winners get access to Google.org funding and mentorship. “The Challenge asks local innovators how they would make their community […]

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Fin24.com | Sygnia to start cryptocurrency exchange in SA

Fin24.com | Sygnia to start cryptocurrency exchange in SA

Money manager Sygnia said it intends to start a cryptocurrency exchange in the third quarter of this year to tap growing interest from investors in the country in digital currencies. To be known as SygniaCoin, the exchange will “offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody and integration with standard savings products,” the Cape Town-based company said. READ:  Sygnia, which has R181bn under […]

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Fin24.com | London introduces ‘world first‘ contactless payments for buskers

Fin24.com | London introduces ‘world first‘ contactless payments for buskers

Busker Charlotte Campbell in London trialling the less card reader in what organisers say is a world first. (iZettle/PA) London – London is introducing a less payment scheme for buskers in what organisers said would be a world first, Mayor Sadiq Khan said on Sunday as he unveiled a partnership with tech company iZettle. Under the “Busk in London” programme, street musicians in the British capital will be able to […]

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Fin24.com | Be vigilant, warns Goliath and Goliath CEO after losing R300k in email scam

Fin24.com | Be vigilant, warns Goliath and Goliath CEO after losing R300k in email scam

Cape Town – Goliath and Goliath CEO Kate Goliath is encouraging small businesses to ramp up security measures after her comedy and entertainment agency fell victim to invoice intercepting as a result of email hacking. Goliath and Goliath is out of pocket to the tune of more than R300 000, while its subsidiary The PR Bailiff has been scammed out of R20 000. The hackers gained access to the company‘s […]

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Fin24.com | Trump can‘t block his critics on Twitter, judge rules

Fin24.com | Trump can‘t block his critics on Twitter, judge rules

President Donald Trump violated the US constitution by blocking Twitter users who disagree with him, a federal judge ruled on Wednesday in a case closely watched for implications for online free speech. Judge Naomi Reice Buchwald said the blocking of Trump critics – which prevent them from seeing and interacting with the president‘s tweets – violated the free speech rights of those users guaranteed in the constitution‘s First Amendment. In […]

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Fin24.com | BuzzFeed opens new Hollywood  chapter With R Kelly documentary

Fin24.com | BuzzFeed opens new Hollywood chapter With R Kelly documentary

BuzzFeed is getting more serious about Hollywood. The digital media outlet, famous for its quizzes and listicles, is developing a documentary about the singer R. Kelly for the Hulu streaming service as part of a renewed push to reduce its dependence on ad sales by getting into television and movies. The program will explore Kelly’s alleged abuse and exploitation of young black women and will be based on BuzzFeed News’ […]

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Fin24.com | Cryptos are tokens, not currency, says SARB

Fin24.com | Cryptos are tokens, not currency, says SARB

The South African Reserve Bank chooses to call digital currencies such as Bitcoin “cyber-tokens” because they don’t meet the requirements to be classified as money. “We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value,” Reserve Bank Deputy Governor Francois Groepe told reporters in Pretoria on […]

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