Company News in Brief
Microsoft to pull plug on Skype as it prioritises Teams and its 320 million monthly users
Skype will ring for the last time on 5 May as owner Microsoft retires the two-decade-old internet calling service that redefined how people connect across borders.
Shutting down Skype will help Microsoft focus on its homegrown Teams service by simplifying its communication offerings, the software giant said on Friday.
Founded in 2003, Skype's audio and video calls quickly disrupted the landline industry in the early 2000s and made the company a household name boasting hundreds of millions of users at its peak. But the platform has struggled to keep up with easier-to-use and more reliable rivals such as Zoom and Salesforce's Slack in recent years.
The decline was partly because Skype's underlying technology was not suited for the smartphone era.
When the pandemic and work-from-home fueled the need for online business calls, Microsoft batted for Teams by aggressively integrating it with other Office apps to tap corporate users — once a major base for Skype.
To ease the transition from the platform, its users will be able to log into Teams for free on any supported device using their existing credentials, with chats and contacts migrating automatically.
With that, Skype will become the latest in a series of high-flying bets that Microsoft has mishandled, such as the Internet Explorer web browser and its Windows Phone. Other big tech firms have also struggled with online communication tools, with Google making several attempts through apps including Hangouts and Duo.
Microsoft declined to share the latest user figures for Skype and said there would be no job cuts due to the move. It added that Teams has about 320 million monthly active users.-REUTERS
Volkswagen reveals third new vehicle to be built in South Africa
Volkswagen lifted the covers off their latest compact SUV, the Tera, at the Rio Carnival over the weekend.
This model is set to be built in South Africa, where it will become the third model, alongside the Polo and Polo Vivo, to be manufactured in Volkswagen Group Africa's Kariega plant following a R4 billion investment. Production is planned to commence in 2026, ahead of the yet-to-be-unnamed model going on sale in SA in 2027.
While the model is named Tera in Brazil, the model built here will carry a different name, which is yet to be decided, along with a high degree of localisation to ensure it is fit for the African continent.
Volkswagen Group Africa will launch a campaign next month where locals can choose from four name options to help add a suitably local nomenclature to the newcomer.
This new A0 SUV will be built on the same MQB-AO platform as the Polo and T-Cross. While technical details are yet to be revealed, this does give an idea of the size, drivetrain layout, and potential engines that could be fitted, including the 1.0-litre three-cylinder turbocharged petrol engine or even the well-loved MPI range of engines.
The design aligns with Volkswagen's latest SUV family, particularly the Tiguan. The interior is similar in layout and design to the recently launched T-Cross, with a floating infotainment screen positioned centrally above the air vents and climate control instruments.-FIN24
Santam headline earnings record 51% jump
Short-term insurance giant Santam said on Monday that headline earnings per share (HEPS) jumped 51% to R34.77 in the year to end-December, which allowed for an 8.8% increase in the final dividend to R9.85 per share, which, along with the interim dividend of R5.35 a share, took total ordinary dividend distributions to R15.20 for the year. Claims from weather-related catastrophes, such as floods and hail, amounted to R748 million in 2024, more or less in line with the R744 million from the prior year, but Santam achieved a 7.6% underwriting margin - a measure of profitability - was well within its 5% to 10% target range.-FIN24
Tesla struggles to sell in Scandinavia
Tesla's Scandinavian sales fell sharply in February from a year ago, eroding its market share as the electric vehicle maker faces a test of brand loyalty amid CEO Elon Musk's role in US President Donald Trump's administration. Tesla, whose cars topped sales charts in Norway, Sweden and Denmark in 2023 and 2024, has slipped this year behind rivals with newer model lineups such as Volkswagen and Toyota, registration data showed on Monday. A total of 613 new Teslas were registered in Sweden last month, down 42% year-on-year, while registrations in Norway and Denmark each fell by 48% to 917 and 509 cars respectively, despite rising overall auto demand in the three countries, including for EVs. Musk's entry into politics, leading sweeping cuts to the U.S. federal workforce and endorsing far-right political views in Europe, has triggered "Tesla Takedown" demonstrations in the United States and calls for boycotts elsewhere. - Reuters
Bitcoin surges past 20%
Bitcoin surged more than 20% from last week's lows on Monday and several other cryptocurrencies also rallied sharply after US President Donald Trump raised the possibility of a new U.S. strategic reserve that would include a range of tokens. Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies, including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced. Bitcoin and ether will be at the heart of this reserve, he posted on Sunday. The post sent the world's largest cryptocurrency up by a fifth from the November lows it was trading at on Friday, helping flip sentiment on a token that has been sliding since mid-January on disappointment Trump had not followed through on pledges to loosen regulation. - Reuters
Skype will ring for the last time on 5 May as owner Microsoft retires the two-decade-old internet calling service that redefined how people connect across borders.
Shutting down Skype will help Microsoft focus on its homegrown Teams service by simplifying its communication offerings, the software giant said on Friday.
Founded in 2003, Skype's audio and video calls quickly disrupted the landline industry in the early 2000s and made the company a household name boasting hundreds of millions of users at its peak. But the platform has struggled to keep up with easier-to-use and more reliable rivals such as Zoom and Salesforce's Slack in recent years.
The decline was partly because Skype's underlying technology was not suited for the smartphone era.
When the pandemic and work-from-home fueled the need for online business calls, Microsoft batted for Teams by aggressively integrating it with other Office apps to tap corporate users — once a major base for Skype.
To ease the transition from the platform, its users will be able to log into Teams for free on any supported device using their existing credentials, with chats and contacts migrating automatically.
With that, Skype will become the latest in a series of high-flying bets that Microsoft has mishandled, such as the Internet Explorer web browser and its Windows Phone. Other big tech firms have also struggled with online communication tools, with Google making several attempts through apps including Hangouts and Duo.
Microsoft declined to share the latest user figures for Skype and said there would be no job cuts due to the move. It added that Teams has about 320 million monthly active users.-REUTERS
Volkswagen reveals third new vehicle to be built in South Africa
Volkswagen lifted the covers off their latest compact SUV, the Tera, at the Rio Carnival over the weekend.
This model is set to be built in South Africa, where it will become the third model, alongside the Polo and Polo Vivo, to be manufactured in Volkswagen Group Africa's Kariega plant following a R4 billion investment. Production is planned to commence in 2026, ahead of the yet-to-be-unnamed model going on sale in SA in 2027.
While the model is named Tera in Brazil, the model built here will carry a different name, which is yet to be decided, along with a high degree of localisation to ensure it is fit for the African continent.
Volkswagen Group Africa will launch a campaign next month where locals can choose from four name options to help add a suitably local nomenclature to the newcomer.
This new A0 SUV will be built on the same MQB-AO platform as the Polo and T-Cross. While technical details are yet to be revealed, this does give an idea of the size, drivetrain layout, and potential engines that could be fitted, including the 1.0-litre three-cylinder turbocharged petrol engine or even the well-loved MPI range of engines.
The design aligns with Volkswagen's latest SUV family, particularly the Tiguan. The interior is similar in layout and design to the recently launched T-Cross, with a floating infotainment screen positioned centrally above the air vents and climate control instruments.-FIN24
Santam headline earnings record 51% jump
Short-term insurance giant Santam said on Monday that headline earnings per share (HEPS) jumped 51% to R34.77 in the year to end-December, which allowed for an 8.8% increase in the final dividend to R9.85 per share, which, along with the interim dividend of R5.35 a share, took total ordinary dividend distributions to R15.20 for the year. Claims from weather-related catastrophes, such as floods and hail, amounted to R748 million in 2024, more or less in line with the R744 million from the prior year, but Santam achieved a 7.6% underwriting margin - a measure of profitability - was well within its 5% to 10% target range.-FIN24
Tesla struggles to sell in Scandinavia
Tesla's Scandinavian sales fell sharply in February from a year ago, eroding its market share as the electric vehicle maker faces a test of brand loyalty amid CEO Elon Musk's role in US President Donald Trump's administration. Tesla, whose cars topped sales charts in Norway, Sweden and Denmark in 2023 and 2024, has slipped this year behind rivals with newer model lineups such as Volkswagen and Toyota, registration data showed on Monday. A total of 613 new Teslas were registered in Sweden last month, down 42% year-on-year, while registrations in Norway and Denmark each fell by 48% to 917 and 509 cars respectively, despite rising overall auto demand in the three countries, including for EVs. Musk's entry into politics, leading sweeping cuts to the U.S. federal workforce and endorsing far-right political views in Europe, has triggered "Tesla Takedown" demonstrations in the United States and calls for boycotts elsewhere. - Reuters
Bitcoin surges past 20%
Bitcoin surged more than 20% from last week's lows on Monday and several other cryptocurrencies also rallied sharply after US President Donald Trump raised the possibility of a new U.S. strategic reserve that would include a range of tokens. Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies, including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced. Bitcoin and ether will be at the heart of this reserve, he posted on Sunday. The post sent the world's largest cryptocurrency up by a fifth from the November lows it was trading at on Friday, helping flip sentiment on a token that has been sliding since mid-January on disappointment Trump had not followed through on pledges to loosen regulation. - Reuters
