COMPANY BRIEFS
Showmax prices hiked, months after relaunch
Showmax, the MultiChoice Group-owned streaming platform that was revamped and relaunched in January, will increase the prices of two of its five subscription packages, beginning in August.
According to Showmax, the price increase is a “normalisation” following a discounted pricing offer as part of the launch of Showmax 2.0.
“Showmax Entertainment will revert to its original R99/month, which was the launch price in 2015, while Showmax Entertainment Mobile will be priced at R45, at the low end of mobile streaming prices globally,” MultiChoice said in a statement on Wednesday.
Under the new pricing regime, the Showmax Entertainment package will increase by R10 from R89/month to R99/month. The Showmax Entertainment Mobile package, which was R39/month, will increase by R6 to R45/month.
Pricing for the Showmax Premier League plan, a mobile-only soccer streaming package featuring live English Premier League games and additional content, remains unchanged at R69/month.
The two bundle package options, Showmax Entertainment with Premier League and Showmax Entertainment Mobile with Premier League, also have no price changes at R140 and R99/month respectively.
-NEWSCENTRAL MEDIA-
Boeing warns customers of further delays on 737 Max, Bloomberg News says
Boeing has notified, opens new tab some 737 Max customers in recent weeks that aircraft due for delivery in 2025 and 2026 might face additional delays of three to six months, Bloomberg News reported on Thursday, citing people familiar with the matter.
Boeing did not immediately respond to a Reuters request for comment.
Reuters reported last month citing two industry sources that Boeing informed its suppliers it was delaying a key production milestone for its 737 jet family by three months as Boeing's jet production has slowed sharply in the face of increased scrutiny from regulators, airlines and lawmakers.
The planemaker in May had said that deliveries will not increase in the second quarter as originally expected.
-REUTERS-
PepsiCo quarterly revenue disappoints on slowing sales of snacks, beverages
PepsiCo missed expectations for second-quarter revenue on Thursday as a series of price hikes and competition from private-label brands slowed sales of its snacks and soda mainly in the United States, its largest market.
Analysts have said that product prices, which are starting to normalize after nearly two years of multiple hikes, are still higher than pre-pandemic levels, giving packaged-food companies such as PepsiCo little room to raise prices as volumes shrink.
PepsiCo raised average product prices by 5% for the quarter ended June 15, in line with the first quarter. However, overall organic volumes slipped 3% in the reported period.
Company executives said year-to-date performance across many food categories, including snacks, was subdued as consumers had become more value-conscious while spending.
"Throughout we are seeing much more price sensitivity and consumers looking for more value across all income groups. Now that is something that we have to take into consideration," Pepsico CEO Ramon Laguarta told Reuters.
-REUTERS-
Boeing nearing deal to sell 777X jets to Korean Air, sources say
Boeing is nearing a potential sale of some two dozen 777X jets to Korean Air in a roughly $4 billion to $6 billion deal that could be finalised as early as July's Farnborough Airshow, industry sources said.
South Korea's largest carrier has been in talks over a potential return to its traditional supplier of long-haul aircraft for months after placing a surprise order for 33 A350 jets from Boeing's European rival Airbus in March.
The sources said the potential new order could involve as many as 20 to 30 of the 777X aircraft, which are worth some $198 million each after typical market discounts, according to estimated delivery prices from Cirium Ascend.
"We are discussing with manufacturers but nothing has been confirmed yet," an airline spokesperson said.
Boeing said it does not comment on commercial discussions and referred any queries on Korean's intentions to the airline.
The 777X is the industry's largest twin-engined jet with around 400 seats but its entry into service has been delayed by five years due to problems including certification delays. An order for the delayed 777X would be a boost for Boeing though Farnborough is not expected to produce a major slew of orders for manufacturers this year, industry analysts said.
-REUTERS-
Sibanye's global IT systems hit by cyberattack
Diversified metals miner Sibanye Stillwater reported on Thursday that a cyberattack has hit its global systems, though this has led to limited disruptions to its operations.
The group said in a statement it had implemented containment measures to isolate IT systems and safeguard data, with an investigation into the incident still ongoing.
Valued at over R60 billion on the JSE, Sibanye is one of the world's largest producers of platinum group metals and gold, while it has recently been making a push into battery metals. It has operations on five continents.
The latest attack comes amid some high-profile incidents and breaches in 2024, including for packaging group Nampak, which was forced to delay its interim results release by a month. Standard Bank was also recently forced to deny it suffered a breach after numerous clients complained on social media that they had suffered fraud or attempted fraud.
Such attacks are hitting government as well, and on Wednesday, newly appointed Department of Public Works and Infrastructure minister Dean Macpherson revealed that the department had become a "soft target and playground for cybercriminals" after R300 million was stolen over a decade, possibly with the help of those inside the department.
READ | 'Soft target': 10 years of plunder at Public Works reveals SA's neglected cybersecurity
In the last calendar year, the Government Employee Pension Fund, National Health Laboratory Service (NHLS), the Department of Justice and Constitutional Development, Tshwane University of Technology, Bloemfontein Metro, and the Companies and Intellectual Property Commission are among the known state institutions that have been victims of cyberattacks.
Showmax, the MultiChoice Group-owned streaming platform that was revamped and relaunched in January, will increase the prices of two of its five subscription packages, beginning in August.
According to Showmax, the price increase is a “normalisation” following a discounted pricing offer as part of the launch of Showmax 2.0.
“Showmax Entertainment will revert to its original R99/month, which was the launch price in 2015, while Showmax Entertainment Mobile will be priced at R45, at the low end of mobile streaming prices globally,” MultiChoice said in a statement on Wednesday.
Under the new pricing regime, the Showmax Entertainment package will increase by R10 from R89/month to R99/month. The Showmax Entertainment Mobile package, which was R39/month, will increase by R6 to R45/month.
Pricing for the Showmax Premier League plan, a mobile-only soccer streaming package featuring live English Premier League games and additional content, remains unchanged at R69/month.
The two bundle package options, Showmax Entertainment with Premier League and Showmax Entertainment Mobile with Premier League, also have no price changes at R140 and R99/month respectively.
-NEWSCENTRAL MEDIA-
Boeing warns customers of further delays on 737 Max, Bloomberg News says
Boeing has notified, opens new tab some 737 Max customers in recent weeks that aircraft due for delivery in 2025 and 2026 might face additional delays of three to six months, Bloomberg News reported on Thursday, citing people familiar with the matter.
Boeing did not immediately respond to a Reuters request for comment.
Reuters reported last month citing two industry sources that Boeing informed its suppliers it was delaying a key production milestone for its 737 jet family by three months as Boeing's jet production has slowed sharply in the face of increased scrutiny from regulators, airlines and lawmakers.
The planemaker in May had said that deliveries will not increase in the second quarter as originally expected.
-REUTERS-
PepsiCo quarterly revenue disappoints on slowing sales of snacks, beverages
PepsiCo missed expectations for second-quarter revenue on Thursday as a series of price hikes and competition from private-label brands slowed sales of its snacks and soda mainly in the United States, its largest market.
Analysts have said that product prices, which are starting to normalize after nearly two years of multiple hikes, are still higher than pre-pandemic levels, giving packaged-food companies such as PepsiCo little room to raise prices as volumes shrink.
PepsiCo raised average product prices by 5% for the quarter ended June 15, in line with the first quarter. However, overall organic volumes slipped 3% in the reported period.
Company executives said year-to-date performance across many food categories, including snacks, was subdued as consumers had become more value-conscious while spending.
"Throughout we are seeing much more price sensitivity and consumers looking for more value across all income groups. Now that is something that we have to take into consideration," Pepsico CEO Ramon Laguarta told Reuters.
-REUTERS-
Boeing nearing deal to sell 777X jets to Korean Air, sources say
Boeing is nearing a potential sale of some two dozen 777X jets to Korean Air in a roughly $4 billion to $6 billion deal that could be finalised as early as July's Farnborough Airshow, industry sources said.
South Korea's largest carrier has been in talks over a potential return to its traditional supplier of long-haul aircraft for months after placing a surprise order for 33 A350 jets from Boeing's European rival Airbus in March.
The sources said the potential new order could involve as many as 20 to 30 of the 777X aircraft, which are worth some $198 million each after typical market discounts, according to estimated delivery prices from Cirium Ascend.
"We are discussing with manufacturers but nothing has been confirmed yet," an airline spokesperson said.
Boeing said it does not comment on commercial discussions and referred any queries on Korean's intentions to the airline.
The 777X is the industry's largest twin-engined jet with around 400 seats but its entry into service has been delayed by five years due to problems including certification delays. An order for the delayed 777X would be a boost for Boeing though Farnborough is not expected to produce a major slew of orders for manufacturers this year, industry analysts said.
-REUTERS-
Sibanye's global IT systems hit by cyberattack
Diversified metals miner Sibanye Stillwater reported on Thursday that a cyberattack has hit its global systems, though this has led to limited disruptions to its operations.
The group said in a statement it had implemented containment measures to isolate IT systems and safeguard data, with an investigation into the incident still ongoing.
Valued at over R60 billion on the JSE, Sibanye is one of the world's largest producers of platinum group metals and gold, while it has recently been making a push into battery metals. It has operations on five continents.
The latest attack comes amid some high-profile incidents and breaches in 2024, including for packaging group Nampak, which was forced to delay its interim results release by a month. Standard Bank was also recently forced to deny it suffered a breach after numerous clients complained on social media that they had suffered fraud or attempted fraud.
Such attacks are hitting government as well, and on Wednesday, newly appointed Department of Public Works and Infrastructure minister Dean Macpherson revealed that the department had become a "soft target and playground for cybercriminals" after R300 million was stolen over a decade, possibly with the help of those inside the department.
READ | 'Soft target': 10 years of plunder at Public Works reveals SA's neglected cybersecurity
In the last calendar year, the Government Employee Pension Fund, National Health Laboratory Service (NHLS), the Department of Justice and Constitutional Development, Tshwane University of Technology, Bloemfontein Metro, and the Companies and Intellectual Property Commission are among the known state institutions that have been victims of cyberattacks.
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