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Southeast Asia shows promise for Karooooo growth

29 Jul 2022 /  Nondumiso Lehutso
As firm reports 44% increase in profit and record earnings from operating activities in Q1 2023.

Meta falls as sales miss estimates in first-ever quarterly drop

28 Jul 2022 /  Alex Barinka, Bloomberg
Meta revenue slipped to $28.8 billion in the second quarter, missing the $28.9 billion average analyst estimate.

Alibaba’s gains from primary listing plan wiped out in two days

28 Jul 2022 /  Charlotte Yang, Bloomberg
The e-commerce giant’s stock fell as much as 1.5% in Hong Kong on Thursday after tumbling on Wednesday, dipping below the level before Alibaba said it would seek a primary listing in the city.

Elon Musk’s Starlink eyed for Philippine rollout before end-2022

28 Jul 2022 /  Andreo Calonzo, Bloomberg
Starlink will not compete with the existing telecommunications providers in the country.

Debris from a Chinese space rocket is crashing toward earth

27 Jul 2022 /  Bruce Einhorn and Shirley Zhao, Bloomberg
The possible debris field includes much of the US, as well as Africa, Australia, Brazil, India and Southeast Asia, according to Aerospace’s predictions.

Alibaba primary listing may lure billions of dollars from China

27 Jul 2022 /  Jeanny Yu, Bloomberg
The move paves the way for the e-commerce giant to be included in the city’s trading links with mainland bourses.

Alphabet, Microsoft spur hope big tech can handle slow economy

27 Jul 2022 /  Julia Love, Bloomberg
Shares in Alphabet and Microsoft rallied in late trading, spurring S&P 500 futures and giving a boost to tech peers.

Fibre optic rollout gets a R5bn leg-up from Standard Bank

26 Jul 2022 /  Nondumiso Lehutso
The funding will help expand MetroFibre’s connectivity in under-serviced communities.

Mark Zuckerberg sells San Francisco home for a record $31m

26 Jul 2022 /  Martine Paris, Bloomberg
Zuckerberg paid about $10 million for the house in November 2012.

Tesla boosts spending plans to as much as $8bn a year

25 Jul 2022 /  Craig Trudell, Bloomberg
Tesla also disclosed it recorded a $170 million impairment loss in the first half of the year related to the carrying value of its Bitcoin holdings.

Telkom auctions 50 more of its properties across SA

25 Jul 2022 /  Nondumiso Lehutso
Following increased digitisation of its services.

VW’s affordable brands will become more similar under the hood

23 Jul 2022 /  Monica Raymunt and Christoph Rauwald, Bloomberg
'In the past, we wasted too much time being preoccupied with each other,' Schaefer said. 'The competition is outside, it’s not within the company.'

Meta’s Facebook revamping main feed to attract younger users

22 Jul 2022 /  Akash Sriram and Katie Paul, Reuters
Facebook is investing in artificial intelligence to serve recommended content.

‘Awful’ snap sales wipe $47bn from social media stocks

22 Jul 2022 /  Ryan Vlastelica and Abhishek Vishnoi, Bloomberg
There are growing signs that tech companies are preparing for a recession with some pulling back on hiring.
UPDATE

Exclusive: Durban venture capitalists buy Gumtree SA from eBay-linked Adevinta

22 Jul 2022 /  Suren Naidoo
Deal puts the country’s biggest online classified platform back in the hands of South African owners.

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