Fin24 (144)

Fin24.com | BREAKING: Guptas sell Tegeta to Swiss owner

Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97bn, it has announced.

Fin24.com | #GuptaLeaks: Questions surround Guptas' minimal tax returns

Evidence from the #GuptaLeaks shows that SARS accepted declarations from the three Gupta brothers to the effect that they earned R1m or less each per year - and paid personal income tax accordingly.

Fin24.com | The poor spend most of their income on food

Data from Statistics South Africa revealed that poor households spend most of their income on food, compared to richer households.

Fin24.com | Manyi's risky ANN7 move

Unless Mzwanele Manyi has been promised government favours for many years to come, his business strategy for ANN7 and The New Age is flawed indeed, says Solly Moeng.

Fin24.com | Businesswomen raring to go but not much room in the c-suite

Women are willing and able to take up more senior roles at work, but are businesses as open as they claim to be when it comes to promoting them to senior management, asks Kumeshnee West.

Fin24.com | PICS: Inside Shoprite's giant new distribution centre

The Shoprite Group's new Cilmor distribution centre in Brackenfell, Cape Town, is described as one of the most technologically advanced in Africa.

Fin24.com | South Africans work harder for cheaper meat - study

South Africa's meat is 20% cheaper than the world average, but South Africans have to work more hours than their counterparts in other countries to afford it, a study shows.

Fin24.com | How Vodacom's data blunder happened

Vodacom said the technically glitch that drained data bundles from a significant number of its customers on Monday, was sparked by a configuration change to the network's billing system.

Fin24.com | Steinhoff won't hamper Shoprite success - CEO

No fears should exist that Steinhoff could interfere with management at the Shoprite Group, Shoprite CEO Pieter Engelbrecht told Fin24 on Tuesday.

Fin24.com | TOP 7 on Fin24: Eskom, nuclear, poverty in South Africa and Vodacom's disappearing data

In case you missed it #ICYMI, here is a roundup of today's top 7 reads on Fin24.

Fin24.com | Eskom can now pursue R60bn in tariff hikes

Eskom has been given the green light to pursue up to R60bn in clawback tariffs, after a Constitutional Court ruling.

Fin24.com | Shoprite-led retail rally fuels JSE

The JSE has pushed higher for a second consecutive session as positive financial results provided a boost to the equity market.

Fin24.com | Leaked AG report points to irregular nuclear tenders

The Auditor-General has allegedly found gross irregularities in a nuclear tender awarded to the son of President Jacob Zuma's benefactor, Vivian Reddy.

Fin24.com | Even in the best democracies statisticians are not safe - Pali Lehohla

Statistics create a platform for policymakers to engage and prescribe solutions to the country's challenges, says Statistician General Pali Lehohla.

Fin24.com | Fin24 readers enraged after Vodacom 'data theft'

An overwhelming majority of customers say it is not the first time mobile operator Vodacom has "robbed" them of data.

Fin24.com | Energy minister on clean-up mission at department

Energy Minister Mmamoloko Kubayi is on a clean-up mission at the Department of Energy, amid a period of high vacancies and allegations of irregularities.

Fin24.com | Eskom IPP signing date to be revealed this month - minister

Energy Minister Mmamoloko Kubayi says the date for the signing of Eskom's power purchase agreements relating to the renewable energy IPPs will be announced by the end of August.

Fin24.com | More than 50% of SA's population is living in poverty

More than half of the South African population is living in poverty, data from Statistics South Africa shows.

Fin24.com | Shoprite resilient despite rand, recession woes

Despite a constrained trading environment, Shoprite Holdings is healthy and doing well across multiple brands and regions, according to CEO Pieter Engelbrecht.

Fin24.com | Zim investors use Old Mutual to repatriate funds outside country

Investors are using Old Mutual as a way of repatriating their investments outside the country, buying stocks and then moving them to either London or the JSE, say analysts.

Fin24.com | Zuma should face ANC inquiry - Sisulu

The ANC should initiate disciplinary action over allegations that President Jacob Zuma and members of the Gupta family have looted state coffers, says Lindiwe Sisulu.

Fin24.com | KPMG's questionable behaviour goes beyond Gupta companies

Yet another scandal means it's time for some changes in the auditing industry.

Fin24.com | Asian stocks rise in thin trading, yen declines

Asian stocks have risen in thin trading as the yen snapped four days of gains and investors reassessed positions ahead of a meeting of central bankers.

Fin24.com | Vodacom to reimburse customers struck by data glitch

Vodacom will reimburse customers affected by Monday night's billing issue, after scores of customers took to social media sites to complain when a network glitch stole data from users.

Fin24.com | Zuma should face ANC inquiry - Sisulu

The ANC should initiate disciplinary action over allegations that President Jacob Zuma and members of a family in business with his son have looted state coffers, says Lindiwe Sisulu.

Fin24.com | Bitcoin analysts compete for highest forecast as profile grows

Bitcoin has been on a tear this year, more than tripling in value as it crossed the $4 000 mark and touched a record $4 477.

Fin24.com | Cope urges Icasa to close down ANN7

Opposition party Cope has urged the Independent Communications Authority of South Africa to revoke the broadcasting licence of former Gupta-owned TV channel ANN7.

Fin24.com | Sasol prepares for tax battle

Sasol could potentially end up with a R12.8bn tax bill. But the petrochemicals group believes that it has an excellent chance of having the bill set aside.

Fin24.com | Zuma signs Twin Peaks Bill into law

The Financial Sector Regulation Act - also known as Twin Peaks - has now been signed into law.

Fin24.com | Retailers, financials push JSE higher

The JSE, buoyed by retailers and financials which bounced on the back of the firmer rand, has closed in the green.

Fin24.com | PPF cheers Manyi's Gupta media purchase

The Progressive Professionals Forum says the sale of Gupta-owned ANN7 and The New Age newspaper to its president will bring a patriotic and progressive voice to South Africa.

Fin24.com | Only 4 in 10 people of working age have a job – report

Only 43.3% of South Africans of working age are employed, says Gabriela Mackay, employment analyst at the Institute for Race Relations .

Fin24.com | Sorry Twitter, Hlaudi is not moving to Manyi-owned ANN7

Former SABC chief operating officer Hlaudi Motsoeneng has congratulated Mzwanele Manyi on his acquisition of broadcaster ANN7 and The New Age newspaper from the Guptas.

Fin24.com | Britain and EU clash over Brexit timetable for trade deal

Britain and the European Union are at odds over how soon the Brexit talks can pivot towards a trade deal just a week before negotiations are set to resume.

Fin24.com | JSE makes modest gains as stability returns to global markets

Although some global markets have still been fragile in response to political uncertainty, financial shares on the JSE have traded higher, supporting the major indices.

Fin24.com | Vodacom's Fatima Hassim proves women can reach tech leadership heights

Vodacom's Fatima Hassim aims to drive digital transformation in the ever-evolving ICT space, and sees the industry as a game-changer in improving the lives of ordinary South Africans.

Fin24.com | How siblings are impacted by collation in a will

There is a legal principle which, if not specifically excluded from a parent's will, can lead to a laborious squaring of the books'.

Fin24.com | Save SA and DA lash out at Gupta sale of media firms to Manyi

Save SA and the DA have expressed concern regarding the Guptas' sale of broadcaster ANN7 and The New Age newspaper to Mzwanele Manyi.

Fin24.com | Boost for commercial property management

The SA Institute of Black Property Practitioners has launched a property manager certification by the acclaimed US-based Institute of Real Estate Management.

Fin24.com | Immigration, tight economy impact solid ADvTECH performance

Although ADvTECH reported a strong performance in its interim financial results, its schools division was impacted by the underperforming economy.

Fin24.com | Price properties correctly to mitigate rental lag

A balance must be struck between high returns from rental property and a reliable tenant who pays the rent on time and looks after the property.

Fin24.com | Love to text and walk cluelessly? Prepare to pay a fine for that

This really shouldn't be a surprise to anyone who's done it: You are just no good at texting and walking.

Fin24.com | New Cape Town hotel to welcome pets

More travelling pet owners are demanding pet-friendly accommodation in the hospitality industry, says the curator of the new Radisson RED Hotel V&A Waterfront.

Fin24.com | Cell C appoints new chair and deputy

Former Primedia CEO Kuben Pillay is the new chairperson of the Cell C board and Blue Label Telecoms chairperson Larry Nestadt is his deputy, Cell C has announced.

Fin24.com | Gupta exit may save ANN7 and The New Age from banking crisis

The sale by the Guptas of The New Age and ANN7 to Mzwanele Manyi may allow the firms to keep operating after the decision by banks to stop dealing with companies linked to the Guptas.

Fin24.com | Google, like Facebook, unfurls subscription tool for publishers

Alphabet's Google is developing new tools designed to boost subscriptions for news publishers.

Fin24.com | Rhino-horn auction by world's biggest breeder to go ahead

An auction of rhino horns from the stockpiles of the world's biggest private breeder will go ahead after the Constitutional Court in South Africa ordered that the government release permits for them.

Fin24.com | Sasol says $11bn Louisiana project three-quarters complete

Sasol says its Lake Charles chemical project in the US is 74% complete and in line with the revised estimate.

Fin24.com | Guptas sell ANN7 and The New Age to Mzwanele Manyi

A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it has been announced.

Fin24.com | Rental boost for Gauteng's rising middle class with R6.4bn deal

A strategic alliance between a JSE-listed firm and a real estate investment trust will bring about 8 900 new affordable rental apartments to Gauteng in a deal worth about R6.4bn.