The past few years have been difficult trading periods for retailers and as Alan Swaby learns, even the most prestigious names in the business have had to learn new tricks.

“Anyone who doesn’t think that a business has to reinvent itself periodically,” says Hilton Mer, executive chairman of Stuttafords—South Africa’s most prestigious department store—“is deluding themselves and by so doing, will prejudice the sustainability of the business. One has to be proactive in keeping in touch with markets and consumers.”

When a product idea has been around for over 100 years it must be doing something right; but as Alan Swaby learns, even the best ideas often need a second chance.

How many ‘novelty’ products have you owned over the years that are still in daily use? The answer, almost certainly, is frighteningly few. Gadgets that seem to offer an attractive alternative to store-bought products all too often find their way into the garage rather than claiming a permanent place in the kitchen.

Pantaloon Retail is India’s most successful and fastest growing retail business; and the secret of its success lies in questioning every received management mantra.

Gary Whalley, chief operating officer of Babcock Ntuthuko Powerlines, says that the company’s long track record of engineering excellence means it is now ideally positioned to expand its footprint across Southern Africa. Jayne Alverca reports.

Mining giant Rio Tinto has announced its intention to sell its shareholding in South Africa’s Palabora Mining.

Rio Tinto currently holds a 57.7 per cent share in Palabora, whose primary asset is a copper mine in the Ba-Phalaborwa area of Limpopo, South Africa.

The mine has a current mine life until early 2016, and studies are underway for a potential extension to 2030.

Owens Corning and Solexel have been awarded $13 million in funding from the United States Department of Energy for projects that will help shape the next generation of solar energy technologies.

The funding is part of the DOE's SunShot Initiative which seeks to make solar energy systems more affordable and sustainable for homeowners.  

McPhy Energy, a provider of solid hydrogen storage technology, has announced a partnership with the UK’s Nottingham University on the mid-term storage of renewable energy in a residential micro-grid.

Construction and infrastructure specialist Ballast Nedam has signed a contract worth around €250 million with wpd for the engineering, supply and installation of 80 foundations at the Butendiek offshore wind farm in Germany.

The wind farm is located in the German Bight, 32 kilometres west of the island of Sylt, and consists of 80 turbines, each with a capacity of 3.6 MW—288 MW in total. The water depth at the wind farm is between 17 and 22 metres.

Flint Energy Services Ltd. has entered into a definitive agreement to Carson Energy Services Ltd, a privately held energy services company based in Saskatchewan, Canada. 

The purchase price to be paid at closing is comprised of $112 million in cash and 2,121,212 Flint common shares, plus up to an additional $30 million earn-out spread over the next three years, subject to closing adjustments. Payment of the earn-out portion of the purchase price is dependent upon Carson meeting EBITDA targets of $40 million per year.

The UK government has announced a £6.5 million investment in engineering skills for the renewable energy industry.

Business secretary Vince Cable said the scheme would provide training for up to 50 of the best engineering students as part of a new Industrial Doctorate Centre in Offshore Renewable Energy, delivered through leading universities and industry.

The students will be trained in technologies such as designing cost-efficient new windmill blades and testing the latest wave energy technology.