Business brief | Standard Bank in hefty solar project; TikTok owners deny sales talks
In another eventful day for corporate news, Anglo American rebuffed BHP's offer and jumped on reports it has a sizeable new investor. Renergen warned its loss has widened in 2024 and Standard Bank announced it is involved in another sizeable renewable energy project. In international news, Chinese tech giant ByteDance has pushed back on reports of talks to sell TikTok. in South Africa that aims to relieve pressure on the national power grid.
The bank has pledged to mobilise between R250 billion and R300 billion by 2026 for sustainable finance solutions, including lending, underwriting, and arrangement activities.informed shareholders that it expects its headline loss per share to widen to between 72.7c and 76.7c per share in its year to end February from 19.89c previously. The increase is primarily attributable to the prolonged downtime experienced during the maintenance cycle, it said in its brief trading update.
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