COMPANY NEWS IN BRIEF

Twitter reinstates blue ticks for some

Twitter's blue ticks were reinstated on some media, celebrity, and other high profile accounts Saturday - a move protested by many of the recipients.

Once a free sign of authenticity and fame, blue ticks must now be bought by subscribers for $8 a month, Twitter says.

Non-paying accounts that had a blue tick lost it on Thursday, as owner Elon Musk implemented a strategy, dubbed "Twitter Blue", to generate new revenue, announced last year.

Only a tiny fraction of blue-ticked users subscribed less than 5 percent of the 407,000 profiles affected, according to Travis Brown, a Berlin-based software developer who tracks social-media platforms.

But on Friday and Saturday, a number of celebrities regained their blue ticks, seemingly without action on their part, including author Stephen King, NBA champion LeBron James and former US president Donald Trump.

Musk tweeted Friday that he was "paying for a few (subscriptions) personally." American rapper Lil Nas X, whose profile displays the blue tick, tweeted: "on my soul i didn't pay for twitter blue, u will feel my wrath tesla man!"

The accounts of some dead celebrities, such as US chef Anthony Bourdain, also received a blue tick. Many official media accounts regained a tick, including AFP, which has not subscribed to Twitter Blue.

The New York Times got back its gold badge this month after Musk had bashed the news organization as "propaganda".

The Times is among the major media groups that have a gold tick reserved for an "official business account" paying at least US$1000 a month.-Fin24

Momentum sees more debit orders bouncing

When Covid-19 started, insurance group Momentum was concerned that job losses would cause a spike in policy lapses. In part due to insurers giving their clients premium breaks, many were able to hold on to their cover, and even two years later, Momentum is still surprised by a low lapse rate.

However, things might be starting to change, with head of Momentum Life Insurance, Stephen van Niekerk, saying that in the past few months, the insurer observed a concerning increase in bounced debit orders because of insufficient funds in people's bank accounts.

He added that Momentum, like other insurers, is aware of increasing financial pressure on its customers, and it's concerned about what South Africa's economic growth prospects may mean for their ability to hold onto their cover.

The launch of Momentum Life Returns, a rewards system that puts greater emphasis on health checks without forcing clients to pay to participate, is one way the insurer hopes to provide some relief.

Previously, clients had to be members of Momentum Multiply and pay a separate monthly premium to get premium discounts on their cover if they lived a healthy lifestyle. Van Niekerk said that while even some of Momentum's high-middle-income clients couldn't afford to pay this fee, the new Life Returns programme aims to "democratise" premium relief by making it more accessible.

"We had a trend showing that the take up of our wellness proposition was really concentrated on higher value contracts, clients who were able to afford it," he said.-Fin24

BMW's Mini apologises

Car brand Mini apologised over accusations of discrimination at the Shanghai Auto Show, after a video apparently showed staff at its booth handing free ice cream to a foreigner after refusing it to a Chinese visitor.

A video compilation posted on social media platform Weibo appears to show workers telling the Chinese visitor they were out of the dessert.

Mini posted an apology over the incident, saying "careless management and staff negligence caused unpleasantness for everyone", and pledged to improve training.

China is the world's largest car market and Mini's owner, German auto giant BMW, has been at pains to emphasise the importance of Chinese customers at the show.

The Shanghai event is the first time most international industry executives have been back in China since the Covid-19 pandemic.

With domestic brands streets ahead in the crucial electric vehicle sector, BMW has pushed the message that "China is the place to be".-Fin24

Five candidates shortlisted for Eskom CEO

Eskom has compiled a shortlist consisting of five candidates to take on the role as CEO of the embattled utility.

Delivering a keynote address at the National Demand Side Management Indaba in Johannesburg on Monday, Eskom board chairperson Mpho Makwana said the utility is progressing in its search for a new CEO.

"We've been quite advanced in the shortlisting process for the next new chief executive of Eskom, such that we now have a small shortlist of five candidates," Makwana said, noting that he would attend a meeting later on Monday related to the appointment.

Former Eskom CEO André de Ruyter departed from his post earlier than anticipated.

De Ruyter joined the utility in late 2019 and resigned in December last year, after he claimed to be poisoned in the Eskom office. De Ruyter was supposed to stay on until April, but left the utility abruptly in February. This followed an explosive interview, in which De Ruyter accused a "senior politician" of being involved in corruption at Eskom.

After 30 years of service at the utility, Eskom Chief Operating Officer Jan Oberholzer will also leave the company when he retires this month.-Fin24