Business News Leaders

Retail sales growth beats estimates in May

South Africa's spenders seem to be loosening their purse strings. Retail-sales growth has beaten expectations for a second straight month in May - with sales up 2.2% from a year earlier compared with a revised increase of 2.7% in April. Alec Abrahams of Sasfin Securities joined Business Day TV to…

17 Jul 2019 2AM 6 min

Weaving through the intricacies of the retail sector

Retail sales growth outpaced analyst expectations in May coming in at 2.2% year-on-year versus 1.7%. On a month-on-month basis sales are up a tepid 0.1% while quarter-on-quarter sales grew 1.7% where general dealers and retailers in textiles led the gains. Subsidiary of JSE listed Brimstone, House of Monatic, the company…

17 Jul 2019 2AM 7 min

EOH probe finds suspicious transactions worth R1.2bn

R1.2 billion in suspicious transactions and evidence of governance failings, these are the findings that has been unearthed in ENS Africa's interim update on the forensic investigation into EOH's historical licensing contracts with the state. Without mentioning names, company's CEO, Stephen van Coller says eight perpetrators are largely responsible for…

16 Jul 2019 2AM 16 min

China's economy grows at slowest rate in 27 years

China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure. While more upbeat June factory output and retail sales offered signs of improvement, some analysts cautioned the…

15 Jul 2019 2AM 5 min

Jacob Zuma testifies at state capture inquiry

In his opening remarks before the Zondo Commission, former president Jacob Zuma stated that he's been vilified, alleged to be king of corrupt people and the most corrupt. This comes after Zuma was implicated by various witnesses as being a key player in state capture. Out of the ten people…

15 Jul 2019 2AM 8 min

Jerome Powell notes concern about Facebook's Libra

Major cryptocurrencies have come under pressure after US Federal Reserve chair Jerome Powell called for a halt to Facebook’s Libra cryptocurrency project until concerns ranging from privacy to money-laundering were addressed. Business Day TV spoke to the CEO of Ovex Jonathan Ovadia for more detail.

12 Jul 2019 2AM 5 min

Africa's free-trade pact will boost manufacturing, says AfDB

The African Development Bank is hopeful that the continent's free-trade pact will boost manufacturing in Africa and shift the region away from its over-reliance on volatile commodity exports. African leaders are hopeful that the deal will create the world's largest free-trade area when the zone comes into operation in July…

11 Jul 2019 3AM 8 min

Rebosis plans to sell most of its retail portfolio

Rebosis property fund saw its share price plunge by close to 67% in the first half of the year. Thats as its had to deal with high debt levels, a poor performance by UK mall owner New Frontier Properties and difficulties in renewing government leases. And as a result the…

11 Jul 2019 3AM 6 min

A review of Matjila's testimony at the PIC inquiry

Former Public Investment Corporation (PIC) CEO Dan Matjila took to the stand for a fourth consecutive day on Thursday to present testimony to the commission of inquiry into the PIC. Its been a week of denials, further accusations levelled against Matjila and allegations of political interference. Business Day reporter Warren…

11 Jul 2019 3AM 8 min

Emerging markets in focus as Fed signals rate cut

Per Hammarlund from SEB sheds light on what the Fed's rate cut signal means for emerging markets.

10 Jul 2019 12PM 7 min

Outa willing to help government find solutions to the e-tolls impasse

Minister of Transport Fikile Mbalula has made it clear that scrapping etolls will not be economically viable. This comes after he was tasked with calming the feud between Finance Minister Tito Mboweni and Gauteng Premier David Makhura who are at loggerheads on the issue. President Ramaphosa wants a resolution on…

9 Jul 2019 12PM 7 min

Escponent shows resilience in a weakening economy

Small-cap financial services group Ecsponent, has shown resilience in a weakening economy. The group says although its not entirely immune to the greater economic and political environments, Its business model remains unchanged... Business Day TV sat down with Company CEO, Terence Gregory for more detail on the company's business update…

5 Jul 2019 2AM 7 min

Rand breaks through R14/$ for the first time since April

The rand strengthened on Thursday morning to reach its best level since mid-April, with the local currency breaking through the R14/$ mark as markets continue to bet on the likelihood that the US Federal Reserve will cut interest rates soon. Alfonso Esparza from Oanda spoke to Business Day TV for…

4 Jul 2019 2AM 5 min

SA's place in the fourth industrial revolution

A task team has been established to advise the minister of higher education, science and technology on how to manage the threats and opportunities posed by the fourth industrial revolution. The appointment of the task team was one of former higher education and training minister Naledi Pandor’s last official acts…

4 Jul 2019 2AM 8 min

Is Legarde what the ECB needs right now?

European Union leaders have named France’s Christine Lagarde as the new head of the European Central Bank. Financial advisory firm deVere Group says that Lagarde is a known quantity and she represents certainty even though she is not know as a leading economist. Business Day TV spoke to international investment…

3 Jul 2019 2AM 6 min

Is passive investing gaining traction in SA?

Passive investing continues to be a popular strategy for investors across the globe. In the US, ETFs for example have made massive inroads with this investment tool accounting for as much as 13% of all fund assets in America. For closer look at the popularity of passive investing in South…

3 Jul 2019 2AM 6 min

Why the appointment process at SOEs matters

Chief Justice Mogoeng Mogoeng, during his address at The Directors Event in Sandton, highlighted the issue of board and other leadership appointments in the public sector. I think we should begin to think about tests that people must be subjected to before they can be elevated to positions of high…

3 Jul 2019 2AM 7 min

The potential consequences of prescribed assets

The ANC’s election manifesto says it intends to investigate prescribed assets to fund social and economic development.This has prompted criticism with the Helen Suzman Foundation saying that the move would have a "very real negative impact" on South Africa's economy. Alexander Forbes agrees saying the company "is opposed to any…

2 Jul 2019 2AM 7 min

Bezuidenhout steps down from Fastjet to rejoin Mango

SAA has confirmed that Nico Bezuidenhout will return as CEO of its low-cost carrier, Mango Airlines. Bezuidenhout, who resigned as head of Mango in 2016 to join pan-African airline Fastjet, will again take over the helm at Mango in October, said SAA. Business Day TV caught up with Bezhuidenhout to…

2 Jul 2019 2AM 6 min

Opec extends oil cuts for eight more months to support prices

Opec has agreed to extend oil supply cuts until March 2020 according to three Opec sources. This will allow the oil cartel to prop up the price of crude amid a weakening global economy and rising US production. Opec and its allies led by Russia have been reducing oil output…

1 Jul 2019 2AM 5 min