Rational Perspective
1,628 episodes - English - Latest episode: over 4 years ago -Rational Perspective is Alec Hogg's regular podcast.
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
Surprise support for Freedom Front Plus
May 09, 2019 10:14 - 7 minutes - 7.3 MBPRETORIA — With a third of the results in South Africa's sixth general election now in, the Freedom Front Plus has a surprising strong showing. It is a party that openly says it represents white interest in the country, but it has seen growth among Afrikaans speaking members of the coloured community and more recently black people in the townships have started canvassing members for the Freedom Front Plus. Here's the chairperson Anton Alberts. - Linda van Tilburg See omnystudio.com/listener ...
Hats off to IEC - an example to Africa #Elections2019
May 08, 2019 19:29 - 4 minutes - 4.35 MBPretoria — South Africans turned out in their millions to vote in the first general election where social media played a major role. And although problems were reported with some voting stations in Kwazulu-Natal and the Eastern Cape not opening because of continued unrest, in general the election process could be regarded as a success. By midday 14 stations in these areas had not opened which the IEC managed to whittle down to a handful by early evening. Considering the fact that they had aro...
Flash Briefing: A nightmare trifecta for Steinhoff, Jooste; Massmart's price drop continues.
May 08, 2019 17:06 - 4 minutes - 4.59 MBLong delayed financial results for the year to end September 2017, released late on Tuesday, revealed that former Steinhoff CEO Markus Jooste voted himself R30m in bonuses which he banked just months before the group’s December 2017 meltdown. Steinhoff’s restated financial results were dire, with a R65bn net loss causing a stock which lost over 90% from its peak to decline even further in Frankfurt yesterday. Adding to Jooste’s woes was the release on Tuesday a dynamite report into horser...
It's all systems go for #Elections2019
May 07, 2019 21:11 - 9 minutes - 8.94 MBPRETORIA — South Africans will go to the polls for the country's sixth democratic election today. After a hotly contested election campaign, the politicians will fall silent while voters get the chance to give their say on who they want to rule the country. The first two days of special votes were marred by some incidence of violence and disruption by protestors about services delivery, but the IEC's Sy Mamabolo says the special voting has helped the IEC to fix glitches. 22,924 voting station...
Flash Briefing: Massmart CEO leaving; Naspers drags JSE lower; Trump hits shares; Group 5 asset sales
May 06, 2019 16:21 - 4 minutes - 4.19 MBShares worldwide took a hit yesterday after an unexpected intensification in trade tensions between the US and China. The global softening of share prices had an impact in South Africa where dominant stock Naspers lost 3.5%, mirroring a 3% drop in the price of its major asset, Hong Kong-listed Tencent Holdings. In the wake of a 45% slump in the Massmart share price over the past year, chief executive Guy Hayward yesterday announced he would be leaving the company before the end of 2019. Troub...
Struggle politics put ANC in driver's seat #Elections2019
May 06, 2019 10:07 - 1 minute - 1.07 MBLONDON — Most opinion polls on this week’s election give the ANC a majority, anything from the mid-50s to 60%. With the recent tsunami of corruption in the Zuma-era unearthed by the Zondo and Mpati commissions, it raises the question of why so many South Africans would still feel inclined to give their support to the ANC. It appears that the answer to that question is that although it is a quarter of a century since the country’s first election, the political struggle against the apartheid go...
The Editor’s Desk: A last look at what may happen this election
May 06, 2019 08:52 - 16 minutes - 15 MBAs Wednesday’s election draws near, everyone is talking about what the final tally will look like. In this week’s episode, Alec Hogg shares what he thinks the results may look like and what he’s been watching this election cycle. He shares his optimism about the DA’s on-the-ground campaign and the choices South Africans will make. Felicity Duncan talks EFF, looking at how the ANC has been losing vote share to the EFF and what that may mean for South Africa’s political future. They also discus...
Flash Briefing: Changes coming to Berkyville; New SAA flights to China; How word sees SA election; Majority support Trumponomics
May 05, 2019 16:30 - 3 minutes - 3.55 MBThere was another record turnout at Saturday’s Berkshire Hathaway AGM where chairman Warren Buffett (88) and his deputy Charlie Munger (95) answered five hours of questions from shareholders. Still in the US, president Donald Trump’s prospects for re-election in 2020 could be higher than most pundits are predicting. The South African election gets the full treatment in the Wall Street Journal this morning where our US partner reckons support for the ANC is the lowest since democracy began in ...
BRK 2019 AGM Highlight: Why retirement funds should stay away from private equity
May 05, 2019 10:14 - 8 minutes - 7.59 MBThe Berkshire duo warm into this question from this shareholder, who is a manager at a Canadian public sector pension fund. He asked for their view on private equity investments - particularly for retirement funds like the one where he works. The Buffett and Munger response won't thrill the army of consultants selling these products. *This is one of the highlights from the five hours of Q&A at the 2019 Berkshire Hathaway AGM in Omaha where chairman Warren Buffett and his deputy Charlie Munge...
BRK 2019 AGM Highlight: Munger on Amazon purchase - we're trying to atone
May 05, 2019 10:06 - 6 minutes - 6 MBWarren Buffett's favourite broadcaster, CNBC's Becky Quick, poses a question many shareholders are mulling - does Berkshire's purchase of Amazon.com shares signal a radical change in direction? Charlie Munger is at his caustic, self-deprecating best in his response. *This is one of the highlights from the five hours of Q&A at the 2019 Berkshire Hathaway AGM in Omaha where chairman Warren Buffett and his deputy Charlie Munger field queries from shareholders. See omnystudio.com/listener for p...
BRK 2019 AGM Highlight: Buffett addresses debate on Capitalism v Socialism
May 05, 2019 09:33 - 6 minutes - 6.15 MBWarren Buffett describes himself as "a card carrying capitalist" primarily because of a belief the system which underpins its economy is responsible for the abundance of his homeland, the United States. In this highlight, he is quizzed about his other very public loyalty, as a supporter of the Democratic Party, where a number of leading 2020 Presidential candidates are running on a socialist ticket. The Oracle of Omaha's comprehensively settles that argument. * This is one of the highl...
BRK 2019 AGM Highlight: Buffett's most fun investment
May 05, 2019 09:23 - 3 minutes - 2.85 MBSome of the most interesting questions at the Berkshire AGM come from unusual quarters like 10 year old Brook who asked what was the most interesting or fun investment Warren and Charlie ever made. The responses are fascinating - and guaranteed to ensure you never again look at a game farming syndicate the same way. * This is one of the highlights from the five hours of Q&A at the 2019 Berkshire Hathaway AGM in Omaha where chairman Warren Buffett and his deputy Charlie Munger field queries...
Flash Briefing: Fossil jaw found in Tibet; Cyril's clean up claims 2 more; Tesla raise sparks shares
May 02, 2019 19:43 - 3 minutes - 2.97 MBThe best-read story on The Wall Street Journal sets out new clues on human evolution. A fossil jaw found in the Himalayan Highlands of Tibet has got scientists excited. South African President Cyril Ramaphosa’s anti-corruption drive has claimed another two scalps - National Laboratory Service Chief Executive Officer Joyce Mogale and Chief Financial Officer Sikhumbuzo Zulu. Gold fell to its lowest in a week on Thursday, reports Reuters, as the US Federal Open Market Committee doused expectatio...
Flash Briefing: Caster loses legal battle; Malema wants your business; Apple drives Wall Street
May 01, 2019 19:50 - 2 minutes - 2.44 MBSouth African Olympic champion Caster Semenya has lost a legal battle against rules to force her to take medicine to compete internationally. Julius Malema, leader of the Economic Freedom Fighters party has called for workers to be given shares in all strategic sectors within the economy, including the financial sector. On the US stock markets, Apple was a winner, rising about 6% and pulling Wall Street indices up with it in early trade on 1 May. Most European markets were closed for the May ...
Flash Briefing: JSE food producers perk up, mining stocks take a hit; Boeing drifts on safety deactivation
April 29, 2019 19:36 - 2 minutes - 2.33 MBRCL and Pioneer Foods were among biggest gainers on the JSE on Monday. Mining stocks took a knock with Amplats dropping by nearly 6% with Implats not far behind. Mining analysts are concerned that a move by the government to deregister trade union AMCU could create chaos in the mining sector. President Ramaphosa’s anti-corruption strategy has claimed fresh scalps - this time by hitting graft-tainted politicians and officials where it hurts most - in the pocket. And in the US, the ongoing inve...
London votes overwhelmingly DA #Elections2019
April 29, 2019 09:41 - 11 minutes - 11 MBLONDON — The first votes of one of the most contentious elections in South Africa's history were cast by overseas voters this weekend. With just over a week to go, the expats in the United Kingdom have given some indication of what we can expect in the election on the 8th of May. Most of the voters we spoke to indicated that they will go for the bigger parties on the national list and it appears that it is unlikely that the long list of smaller parties on the ballot paper will be favoured by ...
Flash Briefing: SARS eyes Bosasa beneficiaries; AMCU fights back; Boeing turned safety features off; expats vote
April 28, 2019 20:01 - 3 minutes - 3.11 MBANC-leaders facing tax claims of income earned from Bosasa. This comes after the firing of two senior prosecutors implicated in bribes. AMCU is meeting the Labour Minister to discuss the government's threat to deregister the group. It has come to light that certain safety features on Boeing 737 Max jets were turned off. The UK's ‘fracking tsar’ Natascha Engel resigned after just six months. South African expats get to vote in the country's May elections. See omnystudio.com/listener for priva...
The Editor’s Desk: SA is finally cleaning up its NPA mess
April 28, 2019 10:26 - 16 minutes - 15.3 MBAfter years of waiting, South Africa is finally seeing real action on the corruption clean-up front, starting with big news out of the NPA. Two top dogs at the National Prosecuting Authority have been given their walking papers after they were found unfit for office. Cleaning up the NPA is the first step in turning around SA’s fight against corruption, because the NPA is the organisation tasked with putting away the bad guys. As more and more incriminating information emerges from the country...
Tshepo Mahloele: The great paradox of the PIC Commission
April 27, 2019 16:24 - 15 minutes - 14.4 MBIn June last year, feisty politician Bantu Holomisa launched a raft of sensational allegations against a trio of leading businessmen which were immediately lapped up by the media. As a result, Holomisa finds himself on the wrong end of a libel suit. But the UDM political party president’s colourful language and skilful media management has had an upside. Last October, a Commission of Inquiry was established to look into his allegations of impropriety at the R2 trillion Public Investment Cor...
Flash Briefing: GEPF 'financially' sound; PP 'helping' Gordhan; AMCU on watch; Zuckerberg fortune rises
April 25, 2019 19:34 - 3 minutes - 3.1 MBIn today's business headlines: The head of the Government Employees Pension Fund says the fund is financially sound and there is no need for an increase in contributions by employers. Public protector Busisiwe Mkhwebane says she is investigating Public Enterprises Minister Pravin Gordham to help him. The labour department is planning to deregister AMCU just weeks before crucial platinum-industry wage talks are expected to begin. Brent crude reached $75 a barrel which is not good news for mot...
Rabie goes to Lisbon - seeking fellow investors (Golden Visa a bonus)
April 25, 2019 11:49 - 21 minutes - 19.5 MBIn the Cape property development scene they don't come bigger than Jonny Rabie. From humble beginnings, his Rabie Property has become an institution in the Mother City. Among its achievements has been the mixed use development of a staggering one million square metres at Century City, which after a slow start has become one of the most successful property developments in South African history. Now Rabie is heading into a new geography, inviting fellow investors to join him in Lisbon. With Por...
Flash Briefing: Bidding war for Moz gas giant; PSG at 20% discount; Rand falls sharply; Life Healthcare slumps
April 24, 2019 18:58 - 4 minutes - 4.37 MBEnergy group Anadarko Petroleum, which owns huge tracts of gas reserves in Mozambique, has become the subject of a massive bidding war. The Jannie Mouton created investment company PSG announced solid financial results for the year to end February, disclosing recurring earnings per share up 9% and a 10% increase in the year’s dividend, to R4.56 per share. Life Healthcare shares were one of the biggest losers on the JSE yesterday after the group released a trading update for the half year to e...
Backtrack: Tito says he'll stay on as finance minister beyond May
April 24, 2019 14:11 - 36 seconds - 591 KBLONDON — Trade union movement, Cosatu has never been a fan of Finance Minister Tito Mboweni. When he set his sights on the position in 2014, powerful allies on the left flank of the ANC prevented him being considered. His name was withdrawn from the ANC ‘s 2014 Parliamentary list after it was made clear to Mboweni that he would not be considered for the position as Finance Minister. With a new President in Tuinhuys, Mboweni did become Finance Minister and the battle between him and Cosatu was...
Flash Briefing: US shares new high; Eskom OK - Gordhan; Son loses $130m on Bitcoin; Omnia rebounds
April 23, 2019 18:50 - 4 minutes - 4.52 MBAmerica’s S&P 500 and Nasdaq Composite indexes reached new all-time highs yesterday. South Africa’s state-owned power utility Eskom “isn’t on the brink of financial collapse” and the government has the problem “well under control,” according to Public Enterprises Minister Pravin Gordhan. The founder of Japan’s massive new-age focused venture capital fund Softbank lost more than $130m on a personal bitcoin bet he took when the cyber currency’s price peaked at $19 000 in December 2017. South Af...
Equipping SA kids with smart tech to help them learn better
April 23, 2019 03:00 - 10 minutes - 10 MBJOHANNESBURG — Over the last few decades, the world has changed dramatically with the advent of internet technologies together with handheld smart devices. Today, most of us walk around with devices in our pockets that can provide us with any information we desire almost instantly at the press of a button. While this has become normal for many of us, the reality is that the benefits of this tech are still difficult to attain for many a South African, especially in the country's poverty-strick...
Lekker! Veldskoens going global thanks to Ashton Kutcher, Mark Cuban
April 23, 2019 03:00 - 20 minutes - 18.4 MBJOHANNESBURG — When Nick Dreyer and two of his mates from school decided to start an online business selling veldskoens about two-and-a-half years ago, they were mainly looking for a clever way to enter the burgeoning e-commerce retail market. They launched their business, aptly named 'Veldskoen', as an e-commerce store first and focused on jazzing up the traditional South African attire with brightly coloured shoelaces and soles together with an appealing story. Since then, the business has ...
Flash Briefing: Tributes for Buzan; ZACP wants to gift SOEs; 3G ejects Kraft boss; US blocks Iranian oil
April 22, 2019 18:02 - 4 minutes - 4.13 MBThe United States yesterday ratcheted up its fight against Iran. Tributes continue pouring in for the 76 year old inventor of mind mapping, Tony Buzan, who passed away earlier this month after heart attack. The Capitalist Party of South Africa, ZACP, last night tabled a plan to hand over direct ownership of the country’s 715 state owned enterprises to citizens. Brazilian investment company 3G Capital, has moved one of its more favoured executives into the CEO post at food giant Kraft Heinz....
Does Tim Cook fill Steve Jobs' shoes?
April 18, 2019 13:51 - 5 minutes - 5.01 MBLONDON — When you think of the company Apple, the first person that most of us associate the brand with is Steve Jobs. Jobs was unparalleled at developing new technology that looked so sleek, minimalistic and beautiful, ok I am an Apple fan, compared to other clunky products that competitors turned out. Some commentators however believe that Jobs was not that great as CEO and that Tim Cook, who has turned Apple into the world’s first trillion-dollar company is shaping up to be the better CEO....
Flash Briefing: Eskom sheds growth forecast; Sibanye strike over; 5G Apple; Juventus, NPN, TKG, CPI
April 17, 2019 20:30 - 3 minutes - 3.37 MBIn today's business headlines: The South African Reserve Bank says the damage done by state capture is worse than previously understood. South Africa’s Association of Mineworkers and Construction Union has agreed to end a five-month strike at Sibanye's gold mines. Apple could have a 5G iPhone ready to bring to market as soon as this year. Shares in Juventus fell by 24% after the Italian Club lost the Champion’s League quarter-finals. President Cyril Ramaphosa’s name has appeared on the list o...
Africa's $1bn unicorn Jumia does an Amazon in New York
April 17, 2019 14:20 - 4 minutes - 3.98 MBLONDON — An e-commerce business has proven that Africa is not only the continent of the Big Five animals, elephants, lions, buffaloes, leopards and rhinos, it is also a continent that can grow unicorns, the $1bn kind. There are now three unicorns in Africa, South Africa’s Promasidor Holdings, Cell C and Jumia in Nigeria, which is regarded as the African Amazon. Jumia listed on the New York Stock exchange at an initial opening price of $18.90 on 12 April and has doubled in value in the first f...
Notre Dame donations biggest ever for a disaster
April 17, 2019 14:06 - 5 minutes - 4.96 MBLONDON — The devastating fire at the Notre Dame in Paris that has almost destroyed the 800 year old cathedral has attracted donations from all over the world and the total amount of money is expected to reach €1bn. This is more than any disaster in history which thousands and thousands of people have died in. The generosity of people, including many of the super rich of the world has raised the question whether it is appropriate to spend so much money on rebuilding a monument. Many architects...
Flash Briefing: SARB independence "insurance"; Markets will "melt-up"; EOH, MTN, TKG, DSY, INT
April 16, 2019 17:34 - 4 minutes - 3.99 MBIn Washington yesterday, South African Reserve Bank governor Lesetja Kganyago re-iterated the argument for an independent central bank, describing it as a shield against bad political leadership. The chief executive of the world’s biggest asset manager predicts global stock markets are poised for what he calls a “melt-up” as signs of economic health in the US and China encourage investors back into the markets. The share price of embattled tech business EOH yesterday surged on heavy trading v...
Flash Briefing; Sudan, Algeria celebrate end of dictators; Aspen, Investec, Absa gain; SpaceX seeks $500m; Goldman profits reverse.
April 15, 2019 18:16 - 4 minutes - 4.31 MBLast week’s ousting of Sudan’s supposed president for life, 75 year old Omar al-Bashir, is ushering in a raft of new democratic freedoms. Despite the controversy that surrounds his erratic actions at electric car maker Tesla, South African born and raised entrepreneur Elon Musk still possesses plenty of money pulling power. After reporting a 21% drop in its latest quarterly profit, the share price of Wall Street giant Goldman Sachs lost 3% yesterday, interrupting its gain of one fifth so far ...
The Joburg hedge fund manager behind English soccer's latest fairlytale
April 15, 2019 12:00 - 31 minutes - 28.6 MBRetired hedge fund manager Clive Nates is not your average celebrity. But in the soccer-mad English city of Lincoln there's nobody more loved right now than the introverted hedge fund manager from Johannesburg. Nates, formerly of Peregrine Capital, became involved with the Lincoln City football club three years ago. That was half a dozen years after its relegation from the bottom rank of English professional football and with creditor banks grumbling about their loans, like many other clubs t...
Major boost for SA grain storage with new Afgri investment unit
April 15, 2019 02:00 - 11 minutes - 10.9 MBJOHANNESBURG — Despite a tough economy and the political uncertainty of land reform hanging over South Africa's agricultural sector, Afgri South Africa, with the help of Rand Merchant Bank (RMB), has managed to get a group of investors together to create a new silo investment unit. In a bold new deal, the new strategic storage platform, dubbed 'Afgri Grain Silo Company', has been created to acquire 100% of Afgri’s South African portfolio of owned grain silo and bunker facilities, representing...
Flash Briefing: Jet Airways faces bankruptcy; Mzi owes millions; EOH heps plunge; Shoprite shines
April 14, 2019 18:53 - 3 minutes - 3.7 MB* Indian-owned Jet Airways, a discount airline which flies 600 domestic and 380 international routes, cancelled all flights over the weekend stranding thousands of passengers. Controversial South African entrepreneur Mzi Khumalo’s gold mining company Metallon has halted production at three of its four Zimbabwean mines because of debt that exceeds $200m. South Africa’s one-time go-go stock EOH, whose share price has lost almost two thirds of its value this year, confirmed the shareholders’ w...
The Editor’s Desk: Chris Steyn, Brexit & the tale of Lincoln City
April 14, 2019 09:22 - 24 minutes - 22.7 MBDUBLIN – Lost Boys of Bird Island co-author Chris Steyn has been under fire since publishing her explosive book. This week, Steyn was driven to take a polygraph test to defend herself from accusations that she fabricated the story. The furor is reminiscent of the anger surrounding Pieter-Louis Myburgh's Gangster State – those named in Myburgh’s book and their supporters have responded with similar anger. But the work of exposing wrongdoing needs to be done, no matter how many feathers are ruf...
Cryptocurrencies should be burnt down in a fire - critic Nicholas Weaver
April 12, 2019 14:01 - 14 minutes - 13.4 MBLONDON — Cryptocurrency and blockchain is a bit like marmite. People are either utter crypto believers advocating how it is free from government interference or are fiercely against it, calling it a glorified Ponzi scheme used by criminals. It was founded a decade ago by a mysterious Satoshi Nakamoto who published a white paper describing an electronic cash system, free from government interference and shared instantly online. That it has shaken up the banking system, was acknowledged by Inte...
Flash Briefing: Public Protector goes after Gordhan; Americans want Assange; Britain in limbo; SA fintech gets thumbs-up; South Africans help film black hole
April 11, 2019 22:40 - 3 minutes - 2.86 MBIn today's business headlines: Finance Minister Pravin Gordhan has been subpoenaed by the Public Protector to submit an affidavit related to the so-called SARS rogue unit. Wikileaks founder, Julian Assange is facing extradition to the United States after he was evicted from the Ecuadorian embassy in London. Global Economist at Schroders, Azad Zangana says the extension to the Brexit deadline reduces the incentives for the UK Parliament to compromise on a deal. Sudan’s military has seized po...
Can 'folk hero' Musk push Tesla to new heights? - Bloomberg debate
April 11, 2019 13:33 - 7 minutes - 7 MBLONDON — Tesla had a rocky start to the year with vehicle deliveries down by 31% from 2018’s fourth quarter. But there may be a lifeline for electric vehicle makers including Tesla from American lawmakers. A bi-partisan group plan to introduce a bill to expand federal tax credits for buyers of electric cars. This after an existing $7,500 tax credit which phases out over 15 months was halved for Tesla buyers in the beginning of the year. The bill dubbed the Driving America Forward Act would gr...
Soweto success: Vilakazi Street's famous Sakhumzi Restaurant turns 18
April 11, 2019 03:00 - 11 minutes - 11 MBJOHANNESBURG — Soweto's Vilakazi Street is a hive of activity these days, with the street dotted with several restaurants and hugely important historical sites that include the home of former President Nelson Mandela. However, it was only 18 years in 2001 that the first restaurant, Sakhumzi Restaurant, opened in the famous street. In this interview, the restaurant's owner, Sakhumzi Maqubela, gives us the backstory to how his establishment set a trend and now employs over 100 people. In total,...
Flash Briefing: Sibanye shares tank; JSE wants Ayo audited; Bibi wins in Israel; Mr Price, Banks; Platinums.
April 10, 2019 17:28 - 4 minutes - 4.07 MBSouth African gold and platinum producer Sibanye has announced that it had raised R1.8bn ($130m) in cash through selling the equivalent of 5% of its equity at R16.50 a share. The Johannesburg Stock Exchange has urgently requested that the external auditors of Ayo Technology Solutions investigate the company’s reported financials for the six months to end February 2018 and February 2019 . On the day when Israel is set to celebrate becoming only the fourth country to land a spacecraft on the mo...
Big guns are coming for Netflix
April 10, 2019 10:47 - 5 minutes - 5.13 MBLONDON — The online video-streaming service Netflix, which many or should I say most of us access for a binge watch of a favourite series or movie has had little competition over the last years. It has been the reigning media stock in the S&P 500 Index for six of the last eleven years and its gain so far in 2019 is 37%. But serious competition is coming with the announcement that Walt Disney, Apple and AT&T, which now owns WarnerMedia will begin to roll out their own Netflix-like products. An...
Flash Briefing: IMF drops SA growth rate; Debenhams; S&P; Richemont; Brimstone; SA retailers
April 09, 2019 18:29 - 4 minutes - 4.48 MBThe International Monetary Fund yesterday cut its forecast for South Africa’s economic growth in 2019 to a pedestrian 1.2% and a modest 1.5% in 2020, both down 0.2% from projections made six months ago. Debenhams, the 241 year old British retailer whose initial boost came from dominating the sale of family mourning clothes during the strict Victorian era, yesterday attended to its own funeral. One of the world’s big three rating agencies S&P yesterday left South Africa’s credit score unchange...
Flash Briefing: CIO claims Ayo "manufactured" financials; Gold, Plat shares surge; Strong Pick n Pay results; Tuna Bond scandal.
April 08, 2019 18:23 - 3 minutes - 3.12 MBThe former Chief Investment Officer of JSE-listed Ayo Technology Solutions yesterday told the commission of inquiry into the PIC that the company manufactured financial statements to secure a R4.3bn investment from South Africa’s State pensioners. The $2bn Tuna Bond scandal which involves state officials and Credit Suisse bankers, took an interesting turn yesterday when the Kempton Park magistrate’s court ruled against former Mozambiquan finance minister Manual Chang’s attempt to resist extra...
Flash Briefing: Added pressure on Magashule; Steinhoff results delayed; Brimstone lines fishing merger; Trade talks positive.
April 07, 2019 18:24 - 4 minutes - 3.77 MBPressure mounted over the weekend on the man who oversees day-to-day running of South Africa’s ruling political party. Another round of trade talks between the US and China wrapped up in Washington over the weekend with both sides happy with the progress. South Africa’s leading food group Tiger Brands is to unbundle to shareholders its remaining 49m shares in South Africa’s biggest fishing group, Oceana. Steinhoff announced late on Friday that its auditors Deloitte have pushed out the project...
From the Editor’s Desk: Brexit on the ground – an economic slow puncture
April 06, 2019 09:04 - 19 minutes - 17.6 MBAs the UK lurches ever-closer to a no-deal Brexit, the view from the ground in the UK is depressing. Business investment has slowed as companies consider their long-term future. Many are setting up shop offshore in Europe to avoid potential disruptions and maintain their European market share. Many others are simply adopting a wait-and-see policy, holding off on acquisitions, new hires, and investment. And many of the foreigners who live and work in the UK have decided to abandon ship. Many L...
Boeing CEO Dennis Muilenburg addresses Ethiopian Airlines flight 302 preliminary report
April 05, 2019 11:55 - 4 minutes - 4.59 MBCAPE TOWN — When vested-interests close ranks and reassure the public that all is well, that’s often exactly the signal for just how wrong things may have gone. A case in point is Boeing admitting that a software fault was responsible for both 737 Max crashes that took 346 lives - after the entire US aviation industry closed ranks to say it was safe to fly the plane. The US was the last nation to ground the 737 Max as most other countries opted for this guaranteed, no-risk approach - long bef...
Why business can be a force for good in SA - INSEAD's Ilian Mihov
April 05, 2019 02:00 - 15 minutes - 14.6 MBJOHANNESBURG - On a recent trip to South Africa, Professor Ilian Mihov, the Dean of renowned global business school INSEAD, took the time to chat to us at BizNews. In this wide-ranging interview, Mihov explains why business can be and, in many ways, already is a major force for good in the world. He also explains how he thinks South Africa has tremendous potential and why it too can benefit dramatically from just getting on the path of becoming a more business-friendly destination. He also ex...
Flash Briefing: BP's SA environmental crime, Tesla shares fall, Ethiopia backs pilots, Magashule hits back
April 04, 2019 19:19 - 3 minutes - 3.1 MBIn today's business headlines: BP has been found guilty in the Pretoria High Court of environmental crimes in a private prosecution. Ethiopia concluded that their pilots repeatedly followed procedures recommended by Boeing. Tesla Inc. shares fell by 11% as a record decline in deliveries during the first quarter stoked concern. United Kingdom has lost £6.6bn in economic activity every quarter since it voted to leave the European Union. Countries with the lowest levels of corruption collected ...