5 things you need to know in SA business today and Lamborghini's brand-new, most powerful car ever
1. A number of South African companies have seen their outlets looted across Africa in retaliation to the xenophobic attacks in Johannesburg. Shoprite stores in South Africa, Nigeria and Zambia remained closed, with stores in Lagos attacked. MTN and Multichoice also closed their branches after protests and in Lusaka, a crowd of students stormed a Pick n Pay.
2. The rand continued to rally after the surprisingly strong economic growth data for the second quarter. It strengthened by almost 2% and was last trading at R14.80/$. Bloomberg reported that foreign investors have piled into South African bonds, with net inflows in the past three trading days of R6.8 billion.
3. Discovery reported a 12% fall in its headline earnings per share for the year to end-June, as it was hit by an unexpected spike in death claims from Discovery Life and the cost of establishing its new Discovery Bank.
4. Thanks in part to steep cost cutting and new business growth, Momentum Metropolitan (previously known as MMI Holdings) has seen a sharp increase in its profitability. The insurer hiked its diluted normalised headline earnings by 53% to R3.1 billion for the year ended 30 June 2019 thanks to efficiency improvements and lower life insurance claims – but also because of the “operating basis changes and investment variances” in the previous year.
5. Members of Parliament have slammed Steinhoff for not releasing a 3 000-page forensic probe that was conducted by PwC to the Hawks. The Hawks still needed the full report from Steinhoff, as well as a statement of complaint, if it had any chance of taking its investigations further. While Steinhoff chair Heather Sonn maintained that a draft report was sent to the Hawks, the Hawks said this was not helpful.
Lamborghini's brand-new, most powerful car ever
Lamborghini has announced the Sián, newly crowned the most powerful car it has ever produced. It also doubles as its first hybrid.
The Sián has a combined horsepower rating of 819, 34 of which comes from its 48-volt electric motor. That beats the Lamborghini Aventador SVJ, which has the same V12 engine without the electric motor.
The new car can accelerate to 100km in under 2.8 seconds and has a top speed of 350 kph, Lamborghini says.
The car is Lamborghini's first step towards hybridization and electrification, according to the automaker. The electric motor helps drivers in situations where low speed is required, driving in reverse and parking.
The car's electric motor is part of the gearbox which is designed to provide a quicker response and better performance for the car. This is not typical for a low-voltage hybrid, and Lamborghini says it is the first time it has ever been done.
"Sián" is a word in the Bolognese dialect that means "flash" or "lightning," an obvious nod to the car's hybrid.
"Not only does the Sián deliver a formidable hyper-car design and engineering tour de force today, it augments the potential for Lamborghini as a super sports car brand for tomorrow and for decades to come, even as hybridization becomes more desirable and inevitably essential," Automobili Lamborghini Chairman and CEO Stefano Domenicali said in a prepared statement.
Only 63 units of the car will be created in honour of the year Automobili Lamborghini was founded, 1963. Each car will be individually customized and styled by its owners via the automaker's design studio and program, Lamborghini Centro Stile and Lamborghini Ad Personam. All examples are already spoken for.
Take a sneak peek at the car that will soon be officially unveiled at the Frankfurt Motor Show:
Lamborghini says it used technology from its previous model, the Aventador, and improved it to store 10 times the power.
The Sián has a combined horsepower rating of 819, making ti the most powerful Lamborghini ever produced.
The car uses the same naturally aspirated 6.5-liter V12 engine that Lamborghini put in the SVJ.
But it also equipped with a 48-volt electric motor that delivers 34 horsepower. This, combined with the 785 horsepower V12 engine, allows the car to reach the total of 819 horsepower.
The automaker claims the car has the lowest weight-to-power ratio of all V12 Lamborghinis.
The car can reach 100k ph in under 2.8 seconds and has a top speed of over 350 kph.
Only 63 units of the car will be created in honour of the year Automobili Lamborghini was founded, 1963.
Each car will be individually customized and styled by its owners via the automaker’s design studio and program, Lamborghini Centro Stile and Lamborghini Ad Personam.
“Sián” is the word in the Bolognese dialect that means “flash” or “lightning,” which is an obvious reference to the electric applications.
“Not only does the Sián deliver a formidable hyper-car design and engineering tour de force today, it augments the potential for Lamborghini as a super sports car brand for tomorrow and for decades to come, even as hybridization becomes more desirable and inevitably essential,” Automobili Lamborghini Chairman and Chief Executive Officer Stefano Domenicali said in a prepared statement.
The electric motor also helps low-speed maneuvers such as reversing and parking.
The car will be unveiled at the Frankfurt Motor Show 2019, which runs from Sept. 14 to 24.
All 63 of the models being produced have already been spoken for, and are already sold.
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