Business News Leaders

Soft commodity returns hit biggest losing streak in 2-years

A gauge of soft commodity returns just capped its longest run of weekly losses in over two years, last week. That's as signs of ample supply of coffee and sugar collide with demand concerns. Joining Business Day TV on the line with his perspective is Senior commodity analyst at Rabobank,…

19 Aug 2019 2AM 4 min

Ramaphosa signs controversial debt-relief bill into law

President Cyril Ramaphosa has signed into law the controversial debt-relief bill. The legislation provides for the extinguishing of the debt of heavily indebted consumers who earn a gross monthly income of no more than R7500, have unsecured debt amounting to 50 thousand rand and who have been found to be…

16 Aug 2019 2AM 10 min

Acquisitions boost ARB Holdings' annual revenue

New acquisitions have helped ARB holdings boost its annual revenue by 4.5% to R2.7 billion. But headline earnings per share fell by 18.8% as the company beared the brunt of a slowing economy. ARB CEO, Billy Neasham talks to Business Day TV about their latest results.

15 Aug 2019 2AM 6 min

Gold Fields returns to profitability

Goldfields has bounced back in the first half of the year, the miner turned net cash flow positive earlier than expected as it swung from a loss of 367 million dollars to a profit of 71 million dollars and as a result, the interim dividend has tripled. The company expects…

15 Aug 2019 2AM 7 min

Truworths continues to battle against difficult trading conditions

Retailer Truworths, released its annual numbers on Thursday and while sales ticked up by nearly 4%, diluted headline earnings fell by 8.5% while trading profit took a knock of 80% as the company cut the value of its UK business, Office London by over a third. Company's CEO, Michael Mark…

15 Aug 2019 2AM 8 min

Metair delivers 21% rise in first-half HEPS

Real volume growth and higher value component opportunities has helped automotive parts maker, Metair shrug off tough economic challenges during the interim period - as a result, the company's reported a 19% rise in revenue, a 21% jump in earnings growth while the interim dividend grew by 25%. Metair CEO,…

14 Aug 2019 2AM 5 min

How Emira's turnaround strategy is paying off

Emira property fund's turnaround strategy has been paying off, that's as it managed to deliver distribution growth for a second consecutive year - coming in 3.1% higher. This is despite the tough trading conditions experienced in South Africa. Business Day TV sat down with the company's CEO, Geoff Jennet for…

14 Aug 2019 2AM 5 min

Curro's mid-year report card boasts double-digit growth

Independent education group, Curro's mid-year report card boasts a 19% increase in revenue and a 44% surge in headline earnings as learner numbers rose by 13%. Net finance costs however grew by 49% and the company expects its investment on expansion and replacement of assets to cost R1 billion this…

14 Aug 2019 2AM 8 min

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