Business Overview | Google's Gemini gets even more angry as Thungela slips up

Miners or former miners in SA continued to give mixed news on Friday, with Sibanye-Stillwater announcing job cuts, but the situation could have been worse. Meanwhile, coal miner Tungela fell after reporting a fall in profits to shareholders for 2023, while AngloGold Ashanti rose. In international news, Google's Gemini AI continues to stir controversy.

coal miner tungela warned shareholders on Friday that its overall profit could fall by around three-quarters, saying in a short statement that its overall profit for the year to the end of December could fall by R17.5 billion to R4.3 billion to R4.9 billion. He said he expected it to decline to Rand. . Due to the price increase due to the Ukraine war in 2022, companies in the energy business had to deal with a significant price drop in 2023. Tengera's share price has fallen by 3%, having halved in the past year.

Dis-Chem, SA's largest pharmacy group by store area announced on Friday that sales rose 12% for the period from September 1 to January 28, supported by strong performance in its wholesale business. Retail revenue for the same period increased by 11.2% compared to the same period, the real growth rate of retail revenue was 8.2%, and the selling price inflation rate averaged 6.8%. “In line with the guidance we provided when announcing our interim results, the group continued to see strong second-half retail sales over the Christmas period and into the fourth quarter,” Chief Executive Louis Marais said in a statement. . He added: “The wholesale business delivered strong revenue growth in the period, with significant 20% growth in revenue to external customers driven by our differentiated service offering and new customers.” Yquem rose 3.5% and is up about 12% in the past year.