Business

The competition commission says Foodcorp has been fined R88.5m for price fixing. The Commission said on Thursday that it had reached a settlement with the company which admitted to collusion in fixing the pricing of wheat flour and maize meal

Ford South Africa's Port Elizabeth engine plant has received another major boost. The company said it will be increasing production capacity of the Duratorq TDCi diesel engine to cater for new demand from the North American market. The locally

 The SA Chamber of Commerce and Industry says business confidence remained gloomy in November, taking its cue from an unfavourable domestic and world economic climate. Sacci says its Business Confidence Index declined marginally from 92

 The wool market rose sharply at the final sale before the Christmas recess. Cape Wools says its merino indicator reached an all-time high when it gained 7% on the previous week to close at R109.91 p/kg for clean wool. Spokesperson, Ona

 The final mohair sale of the 2012 winter season took place on Tuesday. Mohair South Africa says its market indicator closed 2.4% down at R90.65 p/kg. This was a result of large volumes which failed to attract good competition. A

 Listed gold miner Gold Fields has announced that it will unbundle a subsidiary to create a new South African gold mining company called Sibanye Gold. The company announced on Thursday that subject to approval by the JSE and the New York

 Wool prices rose sharply at this week's sale. Cape Wools says its merino indicator gained 4.3 to close on R102.99 p/kg for clean wool. Spokesperson, Ona Viljoen, says this was up by almost 18% on the opening sale and to an extent can be

 Consumer Price Inflation accelerated to 5.6% in October from 5.5% in September. Statistics South Africa said the increase was due to hikes in the prices of food, non-alcoholic beverages, and fuel. The latest data surprised investors

 The mohair market held firm at the 6th sale of the 2012 winter season on Tuesday. Mohair South Africa says the average market indicator gained 2% percent from the previous sale to close on R92.87. An overall sales clearance of 97.3% was