Business News Leaders
Interviews with top CEOs and leaders shaping today's news stories alongside all the latest news that is impacting the markets, business and investments around the world.
15
AUG
4am
DMR unhappy about mines not following processes on job cuts
Following job cuts announcements by miners Impala Platinum and Gold Fields, the Department of Mineral Resources says that it has noticed a a worrying trend with mining companies ignoring due processes and only briefing the department as a mere formality which leaves no room for meaningful engagement. Director General of the Department, Thabo Mokoena joins Business Day TV on the line to detail their concerns.
15
AUG
4am
June retail sales raises red flag about recessionary risk
Retail sales rose a tepid 0.7% year-on-year in June after increasing by 1.9% in May, raising red flags about a technical recession in the second quarter. On a month-on-month basis, sales fell 1.2%. Economists largely expected retail sales to increase by 2.2% meanwhile, Reserve Bank Governor, Lesetja Kganyago has highlighted that lower consumer demand is hindering the country's economic health. Isaah Mhlanga, Chief Economist at Alexander Forbes joined Business Day TV to discuss what the latest print suggests about the trajectory of the economy.
15
AUG
4am
Emira's FY distributions were up 2.53%
Emira Property Fund's distributions for the year has increased by 2.53% year-on-year, despite persistently tough trading conditions. The company says the performance reaffirms the company's turnaround and return to positive dividend growth.... With its rebalancing and reinvestment strategies firmly in place CEO, Geoff Jennett joined Business Day TV in studio now with more of the detail.
13
AUG
2pm
VAT panel's recommendations to cost fiscus R4bn in tax revenue
The VAT panel which Treasury set up to look into ways of softening the impact of the first in VAT hike in 25-years has recommended that the following items should be in the zero-rated items basket namely, white bread, bread flour and cake flour, sanitary products, nappies for babies and adults as well as school uniforms. These recommendations, if approved will cost the fiscus about R4 billion in tax revenue but provide tax relief of R2.8 billion to 70% of the country's poorest households. Prenesh Ramphal sat on the panel, he is Senior Manager of Tax Research & Development at Sars and he joined Business Day TV to discuss the recommendations in greater detail.
13
AUG
2pm
Ramaphosa's stimulus plan to cost R43bn
Our economy is on the brink of a recession. President Ramaphosa hopes to stimulate the economy with a stimulus plan of about R43 billion which will come from existing budgetary resources and new investments. This plan is set to inform Finance Minister Nhlanhla Nene's mid-term budget policy statement in October. Dawie Roodt, Chief Economist at the Efficient Group joined Business Day TV on the line with his perspective on the potential stimulus plan.
10
AUG
8am
Shedding light on Pink Tax
Research shows that the pink tax is alive and well in New York and California. But the jury is still out on whether South African women pay more for their goods and services than their male counterparts. My guest will explore the pink tax - she is Happy Ngale, a financial planner at Alexander Forbes Retail.
02
AUG
12pm
Implats to cut over 13K jobs
Impala Platinum has announced major restructuring. The miner has slashed its future production and may consider selling some of the shafts - it plans to close - if buyers can be found. The move comes as the company grapples with rising costs and weak platinum prices and will result in over 13 thousand jobs losses over the next two years at a R2.7 billion price tag. Nico Muller, CEO of Impala Platinum joined Business Day TV on the line to discuss its restructuring plans in greater detail.
02
AUG
12pm
Liberty H1 profit up as turnaround strategy gains ground
Liberty's turnaround strategy seems to be gaining momentum. Over the half year period we've seen profit rise 6%… Operating earnings - grow 18%, so moving in the right direction but Diluted HEPS still down 1% . And with that, shareholders are in for a third year of no growth in interim dividends. As the company keeps the half-year payout at just over 2 rands. David Munro, Liberty's CEO joined Business Day TV on the line for detail behind the numbers
02
AUG
12pm
JSE H1 evenue up 7%
The JSE has released its interim numbers, increased activity in all markets led to an increase in operating revenue of 7%, headline earnings per share increased by just over 12%, earnings after tax is up 34% due to the company's focus on cost control measures. The JSE is largely a fixed-cost business and says that it is on track to deliver the committed R170 million cost savings by end 2019. Nicky Newton-King, CEO of the JSE joined Business Day TV for a closer look at the detail behind the numbers.
01
AUG
12pm
Ramaphosa's land shock unravels rand's recovery
President Ramaphosa's announcement on government's land reform plan has had local markets in a frenzy. The ANC has decided to amend the constitution which will allow for more clarity on land expropriation without compensation. And while this is Technically, nothing new - the rand took a knock. It has managed to recoup some of last night's lost ground but continues to show some volatility against the dollar. And Standard Chartered economist, Razia Khan joined Business Day TV on the line for her interpretations of the statement.
01
AUG
12pm
ANC seeks to amend section 25 of Constitution
On Tuesday night, President Cyril Ramaphosa announced that the ruling party will amend the Constitution to allow for land expropriation without compensation even though the public hearings on the matter only drew to a close today. The proposed amendment is aimed at more clearly laying out the conditions under which expropriation of land without compensation can be affected. Lawson Naidoo from the Council for the Advancement of the South African Constitution joined Business Day TV on the line with his perspective on the proposed amendment.
31
JUL
12pm
ConCourt ruling deals blow to labour brokers
Last week the Constitutional Court handed down a judgement that will have far-reaching effects on the country's labour industry regarding temporary employment services. Workers who have been placed by labour brokers will automatically become employees after three months in a sole employment relationship. Labour broking firm, Adcorp's share price fell nearly 10% on the news as investors wonder about the future of the business and its operating model. Innocent Dutiro, CEO of Adcorp is adamant that the judgement will not negate the role of labour brokers, he joined for more on his perspective.
