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News

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Fri, 20 Apr 2018
WATCH: What the Old Mutual split means for investors

Old Mutual released its full-year results on Thursday, boasting of a 22% increase in pre-tax profit as it prepares to split its business units.

Group CEO Bruce Hemphill said Old Mutual Wealth, along with Old Mutual Limited, would be listed in London and Johannesburg once the separation was complete. But Hemphill gave no indication of when the listings would take place, saying Old Mutual would play its cards close to its chest.

Hemphill spoke to Business Day TV about the group’s full-year results and gave some more detail on the numbers.

 

 

Source: https://www.businesslive.co.za/bd/companies/financial-services/2018-03-16-watch-what-the-old-mutual-split-means-for-investors/

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Tue, 10 Apr 2018
Rihanna’s response to Snapchat beating ad sends shares plummeting...

An ad on Snapchat asking users if they’d rather “Slap Rihanna” or “Punch Chris Brown” has spawned widespread outrage, including from the singer herself, and brought profuse apologies from the company behind the visual-messaging app.

Snapchat said it is investigating how the ad for a mobile video game called “Would You Rather” made it to the app.

Rihanna, who Brown was convicted of assaulting when she was his girlfriend in 2009, posted an angry statement on her Snapchat and Instagram accounts.

“I’m just trying to figure out what the point was with this mess!” Rihanna, 30, wrote. “I’d love to call it ignorance but I know you ain’t that dumb! You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it!!!”

“Shame on you” she goes on to say, “Throw the whole app-oligy away.”

“This advertisement is disgusting and never should have appeared on our service,” a Snap, Inc. spokesman said in a statement. “We are so sorry we made the terrible mistake of allowing it through our review process.”

READ THE FULL STATEMENT HERE:

Snapchat – which counts 187 million users – said most of its advertising is bought through a self-service platform but is subject to review that should have stopped the ad. “Would You Rather” is now blocked from advertising there.

A Snapchat spokesperson said that the advertisement featuring Rihanna had been “reviewed and approved in error, as it violates our advertising guidelines.”

“We immediately removed the ad last weekend, once we became aware. We are sorry that this happened,” the spokesperson added in a statement.

Brown pleaded guilty to felony assault for his attack on Rihanna in 2009 just hours before the Grammy Awards.

The ad and Rihanna’s response lit up Twitter, with many vowing to delete their Snapchat accounts.

Snapchat’s stocks were down 4 percent on Thursday. The company’s stock is always volatile, and investors worry that the fickle teens and young millennials who are its primary users will drop it.

Last month a tweet from Kylie Jenner saying she rarely uses Snapchat anymore sent the company’s stocks plunging even more than they did on Thursday.

(Screengrab: Instagram Stories/@badgalriri)

 

Source: https://www.channel24.co.za/Gossip/News/rihannas-response-to-snapchat-beating-ad-sends-shares-plummeting-20180316

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Mon, 09 Apr 2018
Police call for calm after farmhouse, sugarcane fields set alight...

National Police Commissioner General Khehla Sitole has called for calm and tolerance in Umlalazi, Eshowe, in KwaZulu-Natal following violent protests.

Hundreds of residents went on the rampage after a man was shot dead on the Gqobhokani farm.

According to police, on Wednesday two young men, one of them being 30-year-old Spamandla Xulu, were fishing at a dam on the Gqobhokani farm.

The men were confronted by a security guard who requested that they leave. An altercation ensued which led to the guard allegedly fatally shooting Xulu. The second man escaped uninjured.

The security guard has since been arrested on a charge of murder and is currently in police custody.

“The man suspected of killing Mr Xulu has been arrested and members of the community should allow the law to take its course,” General Sitole said.

Community members took to the streets initially setting tyres alight on the R66 road and later burning down the Gqobhokani farm house, his sugarcane plantation as well as at least two neighbouring plantations.

“Destroying property is no solution to any problem but rather it is a crime which is punishable by law. Furthermore, it serves to neither help nor corrects any situation,” said General Sitole.

He has tasked the Provincial Commissioner to mobilise an investigative task team to look into the burning of the farmhouse and farms and bring those responsible to book as “such behaviour is criminal and unacceptable”.

Members of the Public Order Police Unit, Tactical Response Team and members of the local police stations have been mobilised to stabilise the area.

 

Source: http://townpress.co.za/live/2018/03/police-call-calm-farmhouse-sugarcane-fields-set-alight/

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