Scarborough, a once quiet conservation village in the Western Cape, has become a talking point online as foreign investors are apparently taking advantage.
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Starbucks points to weaker consumer as profit falls
Starbucks reported lower profits on falling sales on Tuesday as the coffee giant pointed to weakening consumer sentiment and lackluster conditions in China as factors behind an earnings miss. Starbucks has taken note of a large number of cases where consumers begin digital orders and do not follow through with a transaction.
US lawmakers accuses oil giants of climate 'doublespeak'
The oil industry's public relations strategy has evolved from climate science denial to "disinformation and doublespeak" to counter meaningful environmental policies, US congressional Democrats said in a report Tuesday.
Tesla to cut hundreds more jobs in Musk cost push: report
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report. Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
Gaza boycott continues to weigh on McDonald's sales
McDonald's reported a modest increase in quarterly profits Tuesday despite a boycott stemming from the Middle East conflict expected to drag on sales for the foreseeable future. "The continued impact of the war in the Middle East more than offset positive comparable sales in Japan, Latin America and Europe," McDonald's said of the division.
G7 to phase out coal-fired power plants by mid-2030s
G7 ministers agreed a timeframe Tuesday for phasing out coal-fired power plants, setting as a goal the mid-2030s, in a move hailed as significant by some environmentalists but slammed as "too late" by others. Some countries, and many environmentalists, had been pushing for a 2030 limit, but Japan -- which relies heavily on coal -- was reluctant to set a date.
European satellite giant SES to buy US rival Intelsat
European satellite group SES will acquire US rival Intelsat for $3.1 billion, the companies said Tuesday, seeking to compete in a race for space-based internet service led by Elon Musk's Starlink. The sector faces growing competition for space-based internet service, which satellite operator Eutelsat says could be worth $16 billion by 2030.
Record gold prices boost recycling: industry
Record gold prices have sent recycling of the precious metal to the highest level in more than three years, as consumers cash in on jewellery, an industry body revealed Tuesday.
Abu Dhabi-backed group ends Telegraph takeover bid
An Abu Dhabi-backed group planning to take over Britain's Telegraph Media Group (TMG) said Tuesday it will withdraw and sell on the business after the UK government moved to block the deal. However, last month the UK government said it would bring forward legislation to block such state-backed takeover deals in the industry, while Culture Secretary Lucy Frazer also mulled a full regulator probe.
French charity boycotts Olympic torch relay over Coca-Cola
A French environmental charity said it had turned down the chance to take part in the torch relay ahead of the Paris Olympics over the role of Coca-Cola as a major sponsor. But it announced on Monday that it would not take part in the torch relay which will begin in Marseille on May 8, thanks in part to financing from premium Olympics sponsor Coca-Cola.
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