Takeoff and cruise: Toyota making ‘flying car,’ luxury boat

Toyota Motor Corp. is working on a “flying car.” Cartivator’s flying car model hovers on a former school ground in Toyota, central Japan, Saturday, June 3, 2017. Toyota Motor Corp. is working on a “flying car.” Cartivator Resource Management, in which Toyota invested 42.5 million yen ($386,000), showed to reporters Saturday a test flight of […]

Which companies have the highest revenue per employee?

For many companies, the biggest cost is talent. This is especially true of Silicon Valley, where companies sell clicks and digital goods that do not have any material cost. So which companies’ workforces are able to generate the most revenue? We decided to analyze every company in the Standard & Poor’s 500 Index to see […]

Reynolds’ chief exec to stay on after BAT takeover

US tobacco giant Reynolds American has said its chief executive will remain at the company after its planned $49.4bn merger with British American Tobacco goes ahead. The North Carolina-based company said Debra Crew would stay on as president and chief executive and report to BAT’s chief Nicandro Durante. However Andrew Gilchrist, chief financial officer at […]

South Africa’s Vodacom shareholder PIC to back Safaricom deal

South African telecoms operator Vodacom Group said on Friday its second biggest shareholder, the Public Investment Corporation (PIC), will vote in favour of its 34.6 billion rand ($2.67 billion) takeover of Kenya’s Safaricom, Reuters reports. The PIC, which includes the Government Employees Pension Fund, holds a 15.63 percent interest in Vodacom Group. UK-based group Vodafone […]

Daimler, Volkswagen eye China’s electric car market

German auto giants Daimler and Volkswagen announced plans Thursday to secure pole positions in China’s electric car market as the world’s second-biggest economy ramps up investment in cleaner energy. Coinciding with a visit to Berlin by Chinese premier Li Keqiang, Daimler and VW were among a string of top German companies to unveil major business […]

Transcorp Hilton Abuja completes upgrade of executive floors

Transcorp Hilton Abuja today announced the reopening of its executive floors and lounge, following the completion of the renovation of the floors. The reopening marks a milestone in the on-going $100 million renovation project of the 5-star hotel. Valentine Ozigbo, Managing Director/CEO, Transcorp Hotels Plc, while speaking on the reopening said, “Our guests have grown […]

Barclays to sell 22% Africa division stake worth $2 billion

Barclays Plc said it will sell a further 22 percent stake in its South African unit, a holding worth about $2 billion at current prices, as part of the U.K. bank’s plan to shrink its operations and bolster capital strength. The London-based lender is offering about 187 million shares of Barclays Africa Group Ltd. in an […]

Murdoch brothers hold talks with Ofcom over £11.7bn Sky takeover

The Murdoch brothers have held secret talks with Ofcom in a bid to persuade the regulator to wave through 21st Century Fox’s planned £11.7bn takeover of Sky. It is understood that Sharon White, chief executive of Ofcom, has met James and Lachlan Murdoch in London in the last week to discuss the proposed deal. Rupert […]

Spar CEO sees South African politics hurting consumer confidence

Spar Group Ltd. said the firing of South African Finance Minister Pravin Gordhan and subsequent credit rating downgrades had caused a “massive loss of confidence” among shoppers already battling weak economic growth. While there has yet to be a “huge impact” on trading at the Durban-based food and liquor retailer, the decision by President Jacob […]