Business News Leaders

SA Retail and Business Banking boosts Absa

Absa Groups reported a 3% rise in earnings for the first half of this year while income and costs both grew by 6% - its largest business unit, Retail and Business Banking SA has done the heavy lifting showing faster than market growth in key product areas. Business Day TV…

13 Aug 2019 2AM 8 min

Steinhoff considers divestments in turnaround bid

Embattled retailer, Steinhoff, whose market cap plunged by over R200 billion due to accounting irregularities flagged nearly two years ago says that it has ruled out any additional effect on its finances from round two of PWC's forensic investigation into accounting fraud in its books. Steinhoff's survival however is now…

13 Aug 2019 2AM 9 min

Naamsa wants 23% import fee on electric cars dropped

Despite concerns around Eskom and its electricity supply challenges, carmakers, Nissan, BMW and Volkswagen want South Africa to join the electric-car revolution. While the National Association of Automobile Manufacturers will only have a unified stance on electrification by end of year, the auto industry hopes that the prospect of increased…

12 Aug 2019 2AM 9 min

Adapt or die for Medical aid schemes

Despite concerns around Eskom and its electricity supply challenges, carmakers, Nissan, BMW and Volkswagen want South Africa to join the electric-car revolution. While the National Association of Automobile Manufacturers will only have a unified stance on electrification by end of year, the auto industry hopes that the prospect of increased…

12 Aug 2019 2AM 5 min

IEA trims global oil outlook for 2019

According to the IEA, mounting signs of an economic slowdown and an escalating trade war between the US and China have caused global oil demand to grow at its slowest pace since the financial crisis of 2008. Joining Business Day TV on the line to discuss the report in detail…

12 Aug 2019 2AM 6 min

MTN's domestic business hurt by Cell C write-off of R211M

Despite MTN facing headwinds in Nigeria, continued growth in the region has helped cushion the company from slowing growth in its domestic market where earnings were hit by a Cell-C write down and the loss of close to 2 million subscribers. Overall, adjusted headline earnings grew 12% and a dividend…

8 Aug 2019 2AM 8 min

AngloGold prepared to keep for-sale mines if bids are not adequate

Anglogold Ashanti has delivered double digit growth in the first half, that's as its reported a 21% rise in headline earnings per share. Factors that contributed to the improved performance include lower costs and a solid performance from the group's Kibali joint venture. Joining Business Day TV on the line…

8 Aug 2019 2AM 6 min

Standard Bank's focus on the rest of Africa pays off in first-half

Standard Banks Africa focus is paying off with earnings outside SA buffering against slowing economic growth in its home market . The groups reported first half profit up 4% and CEO Sim Tshabalala chatted to Business Day TV about just how much of a buffer its rest of Africa business…

8 Aug 2019 2AM 10 min

Mpact lifts interim dividend by 20%

Packaging manufacturer, Mpact released its interim results today, reporting a near 28% jump in headline earnings per share to 39 cents. This comes as the company benefited from recent capital investments which more than offset the effects of a challenging trading environment and unfavourable market conditions. Joining us in studio…

7 Aug 2019 2AM 6 min

Business confidence resumes downward spiral in July

The South African Chamber of Commerce and Industry has added its voice to the call on government to get a handle on SOEs urgently, arguing that appointments are key in this regard. This commentary comes on the back of the Business Confidence Index resuming its downward spiral in July, falling…

7 Aug 2019 2AM 8 min

SA is running out of time and money, says Nedbank's Mike Brown

Lender, Nedbank has called on government to have more urgency in implementing structural reforms to address the country's deteriorating economic and fiscal position - these factors have weighed on the company's interim numbers and negatively impacts the outlook for the full-year period. During the half year, headline earnings was lifted…

6 Aug 2019 2AM 8 min

Bank union plans 'total shutdown' of the sector over job losses

Banking union, Sasbo is planning the largest strike since 1920, this in protest against retrenchments in the industry. The union plans for its 73-thousand members to stage a two-day walkout at Absa, Standard Bank and Nedbank next month if all avenues to avert job losses aren't explored. General Secretary of…

6 Aug 2019 2AM 7 min

Ellies slips into the red

Leadership instability, global political and economic volatility, these factors have resulted in electrical product maker, Ellies slipping back into the red during its full year with a headline loss of 3.2 cents during its full-year period. Business Day TV sat down with the Company's CEO, Shaun Prithivirajh for more details…

5 Aug 2019 2AM 8 min

Bitcoin surges past $11k mark, eyes new high

Bitcoin climbed past the $11 000 level for the first time since mid-July to lead gains among the biggest cryptocurrencies, this as global markets tumbled on escalating trade war tensions. Joining Business Day TV in studio to interrogate the recent surge and what it suggests is Co-founder and CEO of…

5 Aug 2019 2AM 5 min

SAPO's strategy in focus after CEO resignation

After more than three years as 'Postman Pat', Mark Barnes tendered his resignation as CEO yesterday. Barnes cited differences on forward strategy in relation to the structure of the group, in particular the location of Postbank. Joining Business Day TV on the line to talk through the group's strategy is…

2 Aug 2019 2AM 8 min

Absa PMI climbs to 3-year high

The July Absa PMI figure is above the 50-point neutral mark for the first time in 7-months and at 52.1 index points, it's at its best level in three years with four of the five major sub-components breaching that neutral point mark BUT concerns around the global health of the…

1 Aug 2019 2AM 6 min

Mondi hikes interim dividend by 27%

Packaging and paper group, Mondi has received a boost from higher selling prices and volume increases during the interim period. While revenue is up a tepid 1%, profit before tax surged by 29%, and basic underlying earnings grew 8%. That seeing a dividend of over 27 euro cents being declared…

1 Aug 2019 2AM 7 min

Liberty keeps interim dividend unchanged despite profit surge

A sharp rise from earnings in Liberty's shareholder investment portfolio has party boosted the group's interim profit. The company has delivered a 51% surge in normalised headline earnings per share. Despite the rise in earnings the company has decided to keep its interim dividend unchanged at just over R2. Liberty…

1 Aug 2019 2AM 7 min

Is Eskom locked in a death spiral?

Today is Phakamani Hadebe's last day in office as Eskom CEO. The ailing power utility reported the biggest loss in the country's corporate history yesterday with Hadebe adding that the company is essentially on a death spiral. Ferial Haffajee, Associate Editor at Fin24 is of the view that the death…

31 Jul 2019 2AM 6 min

Brexit deadline looms

With just three months until the Brexit deadline we've had the EU immediately reject newly elected British Prime Minister, Boris Johnson's demands for a better Brexit deal. This after he had promised to take the UK out of the EU by the end of October. With that being said how…

31 Jul 2019 2AM 5 min