Fin24 (168)

Fin24.com | Naspers considers 'structural options' to reduce Tencent value gap

Naspers CEO Bob Van Dijk says Africa's largest company by market value will consider structural options' if the value gap with its stake in Tencent Holdings persists.

Fin24.com | #GuptaLeaks: A tale of two captures: Alexkor, Gupta Inc and 'WMC'

The diamond-rich desert area of the Richtersveld, on South Africa's north-west coast, seems unable to escape the clutches of monopolisation.

Fin24.com | Steinhoff vs state capture: which is the lesser of two evils?

Any claim that the Steinhoff drama eclipses the economic and reputational effects of Zupta-led state capture on SA is political opportunism of the worst kind, says Solly Moeng.

Fin24.com | UK must prosecute social media for illegal content, ethics panel say

UK Prime Minister Theresa May should legislate to prosecute or fine social media companies if they fail to remove illegal content, according to an ethics panel.

Fin24.com | PICS: Jochen Zeitz's favourite places in Cape Town

If you're one of the millions of travellers visiting the Mother City in the coming year - here's the skinny on philanthropist and ex-Puma CEO Jochen Zeitz's favourite local experiences.

Fin24.com | Dlamini-Zuma win could mean little Christmas cheer for SA economy

Presidential hopeful Nkosazana Dlamini-Zuma, who is campaigning under the slogan Radical Economic Transformation, is no favourite of the market, which is likely to react negatively should she win.

Fin24.com | Wrong ANC leaders will see it lose power - Makhura

Gauteng Premier David Makhura has warned that the ANC will lose its majority and extend an economic slump if it elects the wrong leaders this weekend.

Fin24.com | Export diversification will boost Africa's GDP growth - Lagarde

IMF chief Christine Lagarde has extolled the benefits of diversified economies for African countries, saying even minor increases in export diversification could boost GDP growth rates. IMF's Lagarde extols benefits of export diversification for African economies

Fin24.com | Global investors launch climate plan to pressure gas emitters

A group of more than 200 global investors are following through on a promise to fight climate change by pressuring the biggest gas emitters on the issue.

Fin24.com | Apple beats Snap and Spotify in race to acquire Shazam

iPhone-maker Apple has beaten music service Spotify and Snapchat's parent company Snap to acquire music recognition app Shazam for $400m.

Fin24.com | UPDATED: A Steinhoff guide for dummies

Eight questions about Steinhoff you were too embarrassed to ask.

Fin24.com | Pregnant women want seats on Tokyo metro: there's an app for that

Pregnant women struggling to bag a seat on the famously packed Tokyo subway could find their salvation in a new app connecting them with nearby passengers willing to give up their coveted perch.

Fin24.com | Steinhoff said to win some bank support for credit extension

Steinhoff International has started to gain support from key lenders as it seeks extra time to repay more than €1bn owed on a revolving credit facility, sources say.

Fin24.com | Manufacturing up 2.2%, weak growth expected

The manufacturing sector's production reported growth of 2.2% in October, but an economist has warned that weak growth is expected going forward.

Fin24.com | Markus Jooste's racing interests in spotlight as regulator seeks answers

The National Horseracing Authority of Southern Africa has requested clarity from Mayfair Speculators, the company dealing with former Steinhoff CEO Markus Jooste's horseracing interests.

Fin24.com | Outlook bleak as SA sheds more jobs

Employment levels are expected to remain flat over the coming months, given low investment, confidence and economic growth, says an analyst.

Fin24.com | JSE weaker as blue chip stocks remain under pressure

The JSE has closed weaker as most of the blue chip stocks on the local bourse traded under pressure.

Fin24.com | Parliament's finance committee lashes out at Steinhoff

Parliament's oversight committee on finance says it is "outraged at what has happened at Steinhoff and utterly condemns the company's behaviour".

Fin24.com | Top reads on Fin24: Calls for Steinhoff to account to Parliament and shame for SA dirty power plant

ICYMI: A roundup of Tuesday's must-read financial and economic news.

Fin24.com | SA power plant listed 4th dirtiest in world's 'Dirty Dozen'

The Thabametsi project has been listed as one of the twelve dirtiest fossil fuel projects in the world, which environmental groups say still attract vast volumes of public finances.

Fin24.com | M&G gets new US owner as Trevor Ncube passes on baton

SA weekly publication the Mail & Guardian has been acquired by a New York-based non-profit organisation.

Fin24.com | Personal income tax revenue dwindles as SA economy slows

Returns from personal income tax have moderated over the years mainly due to the slowing economy, according to a report by SARS and National Treasury.

Fin24.com | Steinhoff shares stage partial comeback, still down 70% in a week

While Steinhoff's share price has staged a partial two-day comeback this week, its stock is still down some 70% from where it was a week ago before the abrupt resignation of its CEO Markus Jooste.

Fin24.com | Glencore's trading prowess sets unit up for second-best year

Glencore says its powerful trading business will be a star performer again this year.

Fin24.com | Meat taxes seen joining carbon to help curb emissions

Move over, taxes on carbon and sugar: the global levy that may be next is meat.

Fin24.com | Top 10 countdown to the best phones of 2017

This year was one of the most exciting for phones, with the launch of surprise devices building on the best features of previous smartphone models and a nostalgic nod to the past.

Fin24.com | Regulators gone mad: Ban Bitcoin before the bubble bursts

Regulators are allowing the Bitcoin bubble to grow so that many people will get hurt when they realise it must be banned simply to have space to manage their own monetary policy, says Edward Ingram.

Fin24.com | Teetering Steinhoff prepares to shop around its retail assets

Steinhoff International Holdings, which sells $89 mattresses to Americans and two-for-a-pound cans of tomato soup to the British, faces a potential fire sale of its global retail holdings as it battles for survival.

Fin24.com | Russia signs $30bn nuclear plant deal with Egypt

Egypt and Russia signed a $30bn deal to build North Africa's first nuclear power plant as the Kremlin moves to expand its influence in the region.

Fin24.com | Scopa wants Steinhoff execs to account to Parliament

Parliament's oversight committee on public accounts says it intends to call the executives of global retailer Steinhoff before Parliament "early in the new year".

Fin24.com | PC market hammered in Middle East and Africa

Personal computing devices have seen a massive shipment decrease to the Middle East and Africa year-on-year in the third quarter of 2017, according to the International Data Corporation .

Fin24.com | Disdain grows for Eskom's hardly new board

Business Unity South Africa and civil rights body OUTA have criticised Eskom's new board, which has retained most of its old members.

Fin24.com | GEPF protected, but JSE must take action against Steinhoff - Fedusa

Trade union federation Fedusa has met with the PIC to survey the damage of the Steinhoff fallout on government employee pensions.

Fin24.com | Rand strengthens as markets keep close eye on Steinhoff

The rand strengthened by 1.02% to trade at R13.58 to the dollar, with five days to go before the start of the ANC elective conference.

Fin24.com | UPDATED: A Steinhoff guide for dummies

Eight questions about Steinhoff you were too embarrassed to ask .

Fin24.com | Bitcoin tops $18 000 in debut on major bourse

Bitcoin surged past $18 000 after it began trading on its first major global exchange, the latest in a series of highs that have excited some investors while leaving others nervous of a bubble.

Fin24.com | Top5 on Fin24: Steinhoff latest and bitcoin futures debut with a bang

ICYMI: A roundup of Monday's must-read financial and economic news.

Fin24.com | Remaining SARB branches to close to public

The SA Reserve Bank says it will be closing its Durban, Cape Town and Johannesburg branches to the public.

Fin24.com | Irrational IRP madness grips SA's energy sector

The Integrated Resource Plan outlined by Energy Minister David Mahlobo shows a reckless populism in energy decision-making by government as the Zuma period draws to an end, says Chris Yelland.

Fin24.com | SA's rot starts at the top - The Economist

If the ANC is to survive, it should ditch President Jacob Zuma, because under his governance the state has been failing, reports The Economist.

Fin24.com | JSE investigating Steinhoff but won't halt trade

The JSE has reiterated that it won't halt trading in Steinhoff shares, but says it is investigating the firm to determine if it has breached its listing requirements.

Fin24.com | Wiese steps up efforts to save Steinhoff, seeks standstill on loan

Steinhoff International Chairperson Christo Wiese is said to be negotiating a standstill deal on a R24bn margin loan under which banks would suspend the sale of stock until next year.

Fin24.com | EOH blames 'forced sale' of shares for massive price plunge

ICT firm EOH says it has appointed lawyers Edward Nathan Sonnenbergs to conduct a fact-finding review of the commercial activities of three former subsidiaries.

Fin24.com | OUTA wants to see new welfare grants deal

It is official, the South African Post Office will now be in charge of distributing SASSA grants, but OUTA wants the details of the new deal to be made public.

Fin24.com | Uber stays on London streets until at least April on appeal

Uber Technologies Inc.'s London fate won't be decided until mid-way through 2018 after a judge said that she will schedule an appeal hearing in either April or June, meaning the company can operate in its busiest European market until then.

Fin24.com | Steinhoff fallout: Fedusa, PIC to discuss pension damage control

Union Fedusa is to meet the Public Investment Corporation over the Steinhoff meltdown to find ways of salvaging workers' pensions managed by the PIC.

Fin24.com | Steinhoff continues trade, appoints subcommittee

Disgraced retail international holding company Steinhoff has established a board subcommittee to bolster independent governance following the resignation of CEO Markus Jooste over accounting irregularities.

Fin24.com | Threat of split looms as ANC readies to pick new leader

As ANC delegates gather this week to pick a new leader to succeed President Jacob Zuma, they face a challenge that's threatening to overshadow the contest: to stop the party from splitting.

Fin24.com | Bitcoin futures start with a bang as gain trips circuit breakers

Bitcoin landed on Wall Street with a bang - four hours after the debut of Cboe Global Markets's bitcoin futures, the contracts climbed over 20% and triggered two trading halts designed to cool volatility.

Fin24.com | Bitcoin brings crypto to Wall Street

Bitcoin has landed on Wall Street and although the exchange operator warned volume might be low - new futures typically take time to build a following - almost 600 contracts traded in the first hour.