Business News Leaders

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

SA's youth unemployment rate at 56.4%

The second quarter unemployment rate has skyrocketed to levels last seen during the 2008/9 financial crisis. The unemployment rate sits at 29% while the expanded definition, that's inclusive of discouraged job seekers sits at an all-time high of 38.5% while the unemployment rate among the youth is even higher at…

30 Jul 2019 2AM 8 min

Nicky Newton-King to retire as JSE CEO

The JSE says its first half has been challenging but not a reflection of the fundamental strength of the business - the group's revenue fell by 8%, operating costs climbed by 11% while headline earnings per share took at 29% knock. Having announced her retirement, Nicky Newton-King, talks to Business…

30 Jul 2019 2AM 5 min

Advisory panel on land reform recommends expropriation without compensation in certain circumstances only

Land reform cannot be postponed any longer this according to President Ramaphosa's advisory panel on land reform and agriculture. The panel was appointed in September last year and has released its final report looking into who should benefit, what land can be expropriated and when expropriation with or without compensation…

29 Jul 2019 2AM 8 min

Momentum buys Alex Forbes' short-term insurance unit

Momentum Metropolitan is set to acquire Alexander Forbes' short-term insurance business. And that's for a price-tag around 1.94 billion rand. Risto Ketola, CFO of Momentum Metropolitan Holdings joins us now to discuss the transaction, and what it means for Momentum Metropolitan going forward…

26 Jul 2019 3AM 7 min

AB InBev beats expectations as beer sales growth hits five-year high

​The world's largest brewer, AB In bev has beat second quarter earnings expectations, delivering a near 10% rise in EBITDA. This was boosted by beer sales gowth - which grew at their fastest pace in over five years, helped by increases in Latin America, Europe and Africa. Liberum's Nico von…

25 Jul 2019 2AM 5 min

Eskom bailout credit negative for SA, says Moody's

A second multi-billion bailout in under half a year to keep Eskom afloat doesn't sit well in Moody's books. The ratings agency sees the planned R59 billion cash injection as an additional drain on the fiscus and as such, views it as credit negative. For now, Moody's has the country's…

25 Jul 2019 2AM 6 min

Ramaphosa signs long-delayed health blueprint

After a long delay, President Ramaphosa has finally signed the blue print for fixing the country's healthcare system via a Health Compact. The World Health Organisation has had a hand in developing the compact and is confident that its goals will be reached. Alex van den Heever from the Wits…

25 Jul 2019 2AM 7 min

Inflation steady at 4.5% in June, bolstering hopes for rate cuts

Inflation has remained unchanged at 4.5% in June. That's within the SARB's target range of 3-6%. And while some see this as a bolstering case for further rate cuts, Reserve Bank Governor, Lesetja Kganyago has reiterated that there are no quick fixes for this economy, adding that aggressive interest rate…

24 Jul 2019 6AM 6 min

What does Boris Johnson's appointment as the UK's new prime minister mean for SA?

A meeting at Buckingham Palace has sealed the deal - Boris Johnson is the UK's new Prime Minister. The freshly minted leader is said to take a unifying approach to government which looks beyond Brexit - by bringing a new "can do" spirit to the country. Former UK Member of…

24 Jul 2019 2AM 7 min

AECI posts lower profits despite higher revenue

Chemicals and explosives group, AECI realesed its interim results on Wednesday, delivering a 14% rise in revenue. This was underpinned by contributions for the full period from the acquisitions finalised in 2018. However costly restructuring projects in its mining and water divisions have weighed on its earnings, resulting in a…

24 Jul 2019 2AM 5 min

Kumba reports earnings surge on higher iron ore prices

Kumba Iron Ore has benefitted from favourable market conditions during the first half of the year - a 57% rise in iron ore prices and a weaker rand has seen the company's earnings more than triple during the period while the interim dividend has more than doubled. Business Day TV…

23 Jul 2019 2AM 8 min

Eskom to get extra R59bn from government

Finance Minister Tito Mboweni has confirmed an additional R59 billion lifeline for ailing power utility Eskom and that's on top of the R69 billion announced in February's budget. The money will come from the National Revenue Fund and is meant to assist Eskom in meeting its financial obligations during the…

23 Jul 2019 2AM 6 min