BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Flash Briefing: Tongaat suspended on JSE, LSE - Deloitte in crosshairs; gold excites; Trump ignites
In today's Biznews Flash Briefing: Trading in Tongaat Hulett's securities on the Johannesburg Stock Exchange and London Stock Exchange has been been suspended. Questions are again being asked about the integrity of accountants at Deloitte, which were auditors to Tongaat and Steinhoff - another South African multinational involved in financial…
Flash Briefing: Gold still gaining; Big Tech backlash; Eskom needs more cash; Sasol, Naspers
The gold price is on its longest winning streak in almost a year and a half, rising for the eighth consecutive trading session on Friday. The global backlash against Big Tech intensified over the weekend when G20 Finance Ministers said they have agreed to new rules to tax companies like…
Flash Briefing: SA rates likely to drop - Moody's; Trade wars power up gold stocks; African swine fever to hit SA consumers
Ratings agency Moody’s Investors Service has said it expects South Africa's interest rates to fall. It’s not just South Africa that is struggling to turbo-charge its economy. Amid concerns that a global recession looms, the European Central Bank has kept low-rates unchanged, reports Bloomberg. The FTSE/ JSE Gold Mining Index has…
Exasperated Mboweni’s rebuke to reckless Reserve Bank underminers
There are few people that enjoy their tweets as much as Tito Mboweni, well maybe President Donald Trump. But Trump’s social post can cause jitters in markets. This week’s Mboweni’s posts were meant to calm a storm. When the ANC Lekgotla concluded that the Reserve Bank should consider “quantitative easing”,…
Koons' silver bunny has new owner - at "living artist" record of $91m
A three foot tall stainless steel bunny called "Rabbit", one of four cast in 1986 by Jeff Koons, last month became the highest price ever received by a living artist. The other three replicas are housed in art museums in Los Angeles, Chicago and Qatar. The piece, auctioned by Christies,…
Flash Briefing: Blame Eskom - SA just got poorer; Ramaphosa pays tribute to journalists, media freedom; investors queue for Khula Sizwe
In today's headlines: South Africans are reeling from the news that the economy shrunk in the first quarter of this year. Analysts have blamed Eskom power cuts for hammering manufacturing, mining and agricultural output. Eskom has more than $30bn in debt and is believed to be the biggest threat to…
Vox CEO Jacques du Toit opens up about his journey with RMB
JOHANNESBURG — Vox Telecom has become a major telecommunications player in South Africa's market, offering highly competitive fixed line internet and voice services. Over the years, the company has dramatically expanded its offerings and footprint thanks to acquisitions that include its deal with fibre infrastructure provider FrogFoot. Throughout this journey,…
Flash Briefing: SA economy stumbles; Rand falls; Mantashe on coal vs green; another Deloitte scandal; US carrot to UK
In today's business headlines: South Africa's economy shrinks by 3.2% in the first quarter; The rand falls by 2% but claws back some losses; Mantashe refuses to pick sides on green vs coal energy; Deloitte replaces auditors and a partner after Tongaat-Hulett scandal and; Britain is promised a phenomenal…
Flash Briefing: Robust action needed - IMF on SA; Vehicle sales, PMI disappoint; Rand's rosy outlook; PP YouTube's Pravin
In today's business headlines: The IMF says South Africa needs to take “robust actions” to reduce its fiscal deficit and reverse the increase in public debt; The Absa purchasing managers’ index (PMI) has dropped again in May after a slight rise in April; South African vehicle sales fall again; The…
Flash Briefing: PSA wants out of Eskom bonds; $4.5m for lunch with Buffett; SAA CEO quits; Boxing's mega-brand KO'd
The chief executive of South African Airways, Vuyani Jarana has quit, citing a critical dearth of funding and the government’s lack of support for the airline’s turnaround plan. The 240,000-strong Public Servants Association wants to get its members money out of Eskom bonds. An anonymous Warren Buffett fan will pay…
Flash Briefing: Markets 'confused' after cabinet; Omnia shares tumble; Ayo, PIC legal battle; Auntie Pat
In today's business headlines: Investors react favourably to Ramaphosa's cabinet but the US-China trade war dampens sentiment; Shares tumble in Chemical and fertiliser company Omnia Holdings after it announced a rights offer of R2bn to cut debt; Ayo Technology Solutions and the PIC are suing each other; Africa is working…
Ramaphosa foot on the pedal to clean up corruption - Melanie Verwoerd
The relief among investors was clear to see as they assessed President Cyril Ramaphosa’s South African cabinet line-up. The slimmed down executive were given the thumbs-up and the retention of the crucial Finance Ministry post to Tito Mboweni, while allowing Pravin Gordhan as Public Enterprises Minister to continue the clean-up…
Starting a company in the UK: Here's what you need to know
With the Brexit drama engulfing the UK and resulting in the scalp of yet another Prime Minister, it's tempting to overlook that country as a place to start a new business. However, the reality is that the UK's highly advanced first world market coupled with the fact that it remains…
Flash Briefing: Cyril’s pruned Executive excites Rand; Shell seeks SA oil; PIC gets Unioned; Naspers
In today's business headlines: Ramaphosa has announced a slimmed-down Cabinet, reflecting a clean-up but there are some political trade-offs; The Rand gains following the announcement of the Cabinet; Naspers says it is not abandoning South Africa as it plans to list in Amsterdam; Royal Dutch Shell takes a second stake…
Flash Briefing: Mabuza phobia knocks rand; Moyo fiasco shakes Old Mutual; Sibanye, Reunert
In today's headlines: The rand fell on speculation that graft-tainted David Mabuza could be re-appointed as deputy president. The Sibanye share price gained about 9% on the news that Lonmin and Sibanye shareholders have approved the takeover of struggling Lonmin. Reunert fell more than 5% as investors absorbed the details…
Flash Briefing: Telkom's shift in focus bears fruit; Ramaphosa goes slow; Naspers' Tencent; Aspen chill
In today's headlines: Telkom was a big mover on the JSE as its share price jumped nearly 14% to an all-time high of just over R98 per share after it released its Group Provisional Annual Results for the year ended 31 March 2019. Other JSE stocks that gained in value…
Innovative wood science: UP's Martin Wierzbicki recognised in global award
Martin Wierzbicki, an MSc graduate from the University of Pretoria, is making waves in the world of wood science. He was recently named among three winners of the global 2018-2019 Blue Sky Young Researchers and Innovation Award for his research on genome-based biotechnology for designer wood. Wierzbicki’s work has focused…
Salt River's Nadine Maselle gives back thanks to $50k Facebook grant
Electrical engineering student Nadine Maselle was a matric student at Salt River High last year and, while there, she realised that her old school's computer lab could do with a much-needed improvement. So, when she became a fellow of the Facebook Community Leadership programme, she had an opportunity to give…
Vumatel-CIVH merger: RMB's Jessica Spira on her bank's role in the deal
At the end of April this year, the Competition Tribunal approved, subject to conditions, a merger involving Community Investment Ventures Holdings (CIVH) and Vumatel, bumping up CIVH's shareholding in the fibre-broadband provider. The deal means that Johann Rupert-linked CIVH now has sole control of Vumatel in what is a major…
Flash Briefing: CEO-firing stocks plunge; Boris in big lead; Carbon Tax now law; S&P holds SA rating
Former UK foreign secretary and London mayor Boris Johnson has emerged as the strong frontrunner to succeed British Prime Minister Theresa May, who steps down on June 7. The South African Treasury last night released details of the long anticipated Carbon Tax proposals which have now been signed into law…