A day after falling 8% on the back of interim results published by Cell C, Blue Label Telecoms shares again took a battering on Wednesday after the group published full-year results.
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Bitcoin jumped more than 5% in the span of a few minutes on Wednesday, pacing a rally in cryptocurrencies as market watchers cited potential short covering for the move.
Shares in Blue Label Telecoms, which owns 45% of Cell C, fell by 8% on Tuesday after the mobile operator reported half-year results to 30 June 2018 that showed a net loss after tax of R645-million.
Cell C is planning a share sale in Johannesburg by the first quarter of 2020 as South Africa’s third largest wireless company seeks funds for acquisitions.
About 2.5 million people have browsed through the Black catalogue to date, Cell C said of its video entertainment platform on Tuesday alongside its half-year results to 30 June 2018.
Cell C has reduced its net loss after tax in the first half of the 2018 financial year by 33% to R645-million on the back of an 11% improvement in service revenue to R6.9-billion.
Naspers said on Monday that it has concluded the sale of its 11.2% stake in Indian e-commerce company Flipkart, realising $2.2-billion (about R32.2-billion) in proceeds.
Apple will release a new low-cost laptop and a professional-focused upgrade to the Mac mini desktop later this year, ending a drought of Mac computers that has limited sales of the company’s longest-running line of devices.
Nvidia has unveiled a new graphics-chip design for computer gamers, aiming to bolster demand amid concerns that growth may be slowing.
Uber has asked government to delay the implementation of a new licensing framework for drivers until “current challenges” experienced by public transport operators for operating licences are resolved.