BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Steinhoff hits 87c; Shoprite falls; Gwede on Eskom, Unions; IMF scare to spur action; Copyright Bill backlash
In today's business headlines: Steinhoff shares fall to an all time low of R0.87 a share on the JSE; Shoprite shares dropped by more than 9% after losses in the rest of Africa leads to a full year trading loss of R265m; Energy Minister Gwede Mantashe says he sees unions…
Rein in government spending and ship can be turned around - Rhandzo Mukansi
In the $100trn global bond market, it appears to be hard to find a good investment. With Germany announcing that it will sell an ultra-long bond at 0% for the first time this week, there is talk of Germany being in danger of Japanification. If investors put their money into…
Fidentia curators coin it, widows weep; EU braces for hard Brexit; Discovery, Blue Label, Resilient
It was another rough day on the JSE for medical scheme provider Discovery, which lost 8%, and Aspen, which shed more than 4%. Blue Label Telecoms also took a knock, losing more than 3% of its value after announcing a delay in the release of its financial results. It expects…
Personal finance: How NHI law will hit your tax, savings, medical cover
The National Health Insurance (NHI) bill sent shock waves across the Johannesburg stock exchange earlier this month, hammering darlings like Discovery and hospital companies. But the damage to your share portfolio was just the start of NHI-induced financial pain. Expect big taxes to cover a government department that will be…
Jooste won't repay R850m; 1.7m protest in HK; Capitec and Sasol shares slump.
Former Steinhoff CEO Markus Jooste, who has been accused of fraudulently inflating the company’s profit numbers over the past decade, is refusing to repay Steinhoff the R850m in salary and bonuses he received since 2009. Pro-democracy demonstrators in Hong Kong yesterday held one of their biggest rallies as activism stretched…
Emigration fuelling tax concerns but Azar Jammine sees a ray of light
The mood in South Africa is particularly gloomy at the moment as the New Dawn that President Cyril Ramaphosa promised, remains a tiny glimmer of light on the horizon. Ramaphosa is distracted by in-fighting in his own party, using the Public Protector to attack him and restricted by policies adopted…
Land expropriation debate is deterring investment - IRR's Terence Corrigan
The debate on land reform is heating up as a cross-party Parliamentary committee begins to look at how the Constitution can be changed to allow for the expropriation of land without compensation. This is after the Presidential Panel concluded its report and suggested a watered down version of the original…
IMF not needed; Lefties shackle Cyril; Goldfields, Implats back in black; Discovery recovery; Petrol price hike
In today's business headlines: The IMF says South Africa does not need a loan, but it needs structural reforms to boost growth; Bloomberg says President Cyril Ramaphosa's left wing allies is hampering economic reforms; Gold Fields has returned to a first-half profit of $70.5m in June but its headline earnings…
Journalist Malcom Rees: How Johann van Loggerenberg got falsely labelled a police spy
South Africans who lived through the apartheid era are keenly aware that there are few accusations worse than being called a policy spy. Back in the 1980s it was a moniker that could easily cost your life. The best known case is probably the murder of Stompie Moeketsi, accused of…
SA bond dump; Stocks bullied, gold glitters; Credit Suisse sees SA light; Former Eskom execs want top job; Facebook recorded you
In today’s business headlines: Investors have been dumping South African bonds at a rate of almost R2bn a day in August. South African stocks approached a six months low yesterday but gold shares are still shining. The JSE all-share index dropped by 2.11% while the benchmark Top-40 index was 2.37%…
David Shapiro on Discovery's 'blackhole', SA Inc sell off and the missing prosecution
This week on Rational Radio David Shapiro spends a lot of his time searching for answers to Discovery's massive sell off which has seen the stock fall to around R100 a share. There's talk of an analyst and a gaping R15bn hole, while National Health Insurance also finds itself amongst…
Wilhelm Hertzog: Steinhoff shares a "coin toss" - bonds, prefs much better bet
On this week's Rational Radio show, Wilhelm Hertzog gave us his impressions of the long awaited Steinhoff Investor Presentation which he attended yesterday. In this insightful contribution, the co-founder of money manager Rozendal Partners also explains why those paying anything for Steinhoff's JSE-listed shares - even at 124c - are…
Steinhoff execs answer investors: Q&A at the Investor Presentation
After an hour and a half of presentations by Steinhoff executives and directors, investors got the opportunity to pose their questions. The spontaneous nature of this part ensures that it is often the most interesting part of any presentation, especially for smaller Steinhoff shareholders hoping to pick up some guidance…
CEO Louis du Preez: Where we are - and the road ahead for Steinhoff
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff CFO Philip Dieperink: On legal claims, Jooste's financial shenanigans
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
UCT Accounting prof Alex Watson: Unravelling Steinhoff's Gordian Knot
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff CEO Louis du Preez answers: When is Markus Jooste going to jail?
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Chair Heather Sonn - Investor presentation conceived over 20 months
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff sell-off; Absa struggles; Amplats eco-battery plan; Argentina EM contagion fears
Steinhoff bosses say the only way the company can survive is if it sells assets and transforms into a holding company. It has a mountain of debt that is a worry. CEO Louis du Preez delivered a stark assessment of Steinhoff's options at the company's first public investor presentation since…
Personal finance: Tackling scary truths about your SA savings, investments - money expert
In this BizNews Personal Finance podcast, Johannesburg money expert Dawn Ridler chats to Jackie Cameron about how to start getting your personal finances in order. Ridler sets out some of the obstacles to growing wealth, including the huge returns you need to make to generate a decent return when investment…