Tesla finished the trading day Tuesday with a market cap greater than $500 billion for the first time after its stock price surpassed $527.48 per share. Tesla’s enterprise multiple, or its enterprise value relative to EBITDA, exceeded 130 based on the company’s last 12 months, according to Factset. With a forward enterprise multiple of 63, Tesla shares closed...
Year: <span>2020</span>
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Petrol Price is set to Drop this Festive Season – Good News for Motorist
South Africans can look forward to slightly cheaper petrol for the holiday season, according to unaudited month-end fuel price data from the Central Energy Fund, however diesel prices are set to go up slightly. According to the Automobile Association, the price of petrol is looking set to decrease by around 27 cents a litre from...
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South African Stores snub China and Source their Products Locally – Local is Lekker
South African retailers including The Foschini Group Ltd. and Woolworths Holdings Ltd. are increasing investment in local clothing manufacturers – both to reduce a dependency on Chinese imports and secure a supply chain thrown into disarray by Covid-19 restrictions. The companies have signed up to an industry plan that includes a target to source 65% of their...
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BuzzFeed Acquire HuffPost In Verizon Deal
Under the deal Verizon will acquire a minority equity stake in BuzzFeed, with the digital publisher and telecom giant partnering on advertising and content. Two titans of the digital publishing space will soon merge, as BuzzFeed is acquiring HuffPost as part of a larger deal with Verizon Media. The deal has multiple pieces, with Verizon...
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Openview to Broadcast Belgian League showcasing stars like Percy Tau
The free-to-air platform has secured a broadcast deal that makes it the exclusive home of Belgian football in South Africa. Renowned as the club ‘where stars are born’, the Jupiler Pro League is home to more than 100 African players, including well-known stars like Percy Tau and Club Brugge’s Nigerian striker Emmanuel Dennis. Tau’s three...
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TikTok UK and the Elton John AIDS Foundation Partner for World AIDS Day
TikTok is partnering with the Elton John AIDS Foundation to increase awareness about HIV/AIDS on the upcoming World AIDS Days on Dec. 1. The partnership’s campaign starts on Nov. 25, with TikTok users being offered access to a quiz on HIV/AIDS education and awareness. The legendary rocker will also take part in a special livestream on the app...
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Kevin Lin Departs Twitch After 13 Years with the Company to Focus on a New Venture
The co-founder and COO for the last 10 years shared the news in a Medium post addressed to the Twitch community on Thursday, writing that he’s leaving to pursue his “next adventure” in the technology space. “After many months of contemplation, I’ve decided it’s time to journey into my next adventure,” wrote Lin. “My life has been...
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Public Investment Corp (PIC) to Help Eskom with its Debt – Mboweni
The Public Investment Corp., Africa’s biggest fund manager, is willing to help South African power utility Eskom Holdings SOC Ltd. resolve its debt crisis, Finance Minister Tito Mboweni said at the Bloomberg Capital Markets Focus virtual event Tuesday. “Most of the bonds actually are held by the PIC and the banks and so on,” Mboweni...
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Discovery Bank Introduce New Features on Its Banking App
Discovery Bank has launched a number of new features in its banking app, while also including virtual cards. The bank said that clients now get up to 20% off when they spend their Discovery Miles online and in-store. Customers can also make payments to their contacts who are Discovery Vitality members through Discovery Pay by...
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SA Born Elon Musk has overtaken Bill Gates to become the world’s second richest person
Tesla co-founder Elon Musk is now the world’s second richest person after he leapfrogged Microsoft billionaire Bill Gates, according to the Bloomberg Billionaire Index, which tracks the wealth of the world’s 500 richest people. The 49-year-old entrepreneur, who is also the co-founder of space exploration firm SpaceX, saw his net worth rise by $7.2 billion to $128...