Business News Leaders

Murray & Roberts plans Aveng take-over

Engineering and construction giant, Murray and Roberts is in talks with cash-strapped rival, Aveng about a possible take-over. No formal offer has been made but the deal would include M&R settling R2 billion worth of Aveng's debt which is due next year but M&R's majority shareholder, Aton says that it…

21 May 2018 12PM 7 min

JSE under fire over listings & investor protection

The JSE has been taken to task regarding questionable listings and its responsibility to protect retail investors. This following the listings of Gupta-linked Oakbay and Iqbal Surve's proposed listing of Sagarmatha as well as the collapse of Steinhoff calling into question whether the JSE has a bigger role to play…

21 May 2018 12PM 8 min

Another SAA raid on our wallets

The week's slipped by as sneakily as another SAA raid on our wallets and this is the week that was! Join Giulietta Talevi, her co-host Simon Brown and joining them as they wade through the fray, is Sasfin Securities' David Shapiro.

18 May 2018 12PM 24 min

Is Generation X growth outpacing Millennials?

Global research company Nielsen is expecting a big shift in South Africa's consumer landscape in the next few years. These include changes in what we buy and how we shop. Joining Leigh Roberts at the Business Day TV studio to discuss this in more detail is Ailsa Wingfield, Executive Director…

18 May 2018 12PM 7 min

Investec earnings steady as Koseff prepares exit as CEO

Investment bank and asset manager, Investec released its full-year results today revealing that funds managed by its asset management business has topped the 100 billion British pound mark for the first time. Operating profit is up 5.6% and the company's board has proposed a final dividend of 13.5 pence per…

17 May 2018 1PM 10 min

Ramaphosa supports the idea of a State Bank

The EFF has tabled a Banks Amendment Bill in the National Assembly to pave way for a state-owned bank. President Cyril Ramaphosa has indicated that it is actually a concept that originates from the ANC and that he is willing to throw his weight behind the idea as the banking…

16 May 2018 2PM 8 min

SA March retail sales up 4.8% y/y from 4.2% in Feb

South Africa's retail sales growth has outpaced analyst expectations by accelerating for the second consecutive month in March coming in at 4.8% year-on-year from a revised 4.2% in February. On a month-on-month basis however, sales were flat. The main contributors to the 4.8% increase were retailers in textiles, clothing, footwear…

16 May 2018 2PM 7 min

SA unemployment rate unchanged at 26.7%

South Africa's first quarter unemployment rate is unchanged at 26.7% while the working population increased by 153 000 over the period with discouraged job-seekers increasing by 249 000. The formal sector led job gains over the period while the agricultural sector recorded the biggest losses. Innocent Dutiro, CEO of global…

15 May 2018 2PM 7 min

Vedanta invests $800M to build zinc refinery in SA

Vedanta Zinc International plans to spend 800 million dollars to build a zinc refinery in the Northern Cape. Feasibility studies have been launched and it would be the country's first zinc smelter since Exxaro closed its unprofitable plant in 2011. With our Mining Charter still not finalised and disappointing mining…

15 May 2018 12PM 8 min

Vodacom grows customer base but misses earnings target

Mobile giant, Vodacom released its full-year results on Monday, posting a 6.3% rise in revenue, headline earnings per share is unchanged at 923 cents and the company declared a final dividend 425 cents which is 10 cents lower than the previous period. Business Day TV’s Giulietta Talevi caught up with…

14 May 2018 1PM 9 min

Astral H1 earnings soar on lower costs, higher sales

Poultry producer, Astral released its interim results today, revenue is up 15%, headline earnings per share has soared by 455% while operating profit jumped 393% driven by low input costs, higher sales volumes and higher poultry selling prices. The group has declared an interim dividend of R10 up from R1.80…

14 May 2018 12PM 6 min

Indluplace declares H1 dividend of 48.5C

Indluplace has declared an interim dividend of 48.5 cents, matching the payout from a year ago. The company's FD Terry Kaplan spoke with Business Day TV more insight…

9 May 2018 12PM 20 min

Long4Life maiden results boosted by acquisitions

Newly-listed investment firm, Long4Life reported results for its first eleven month period. Profit sits at R169 million largely driven by asset acquisitions, revenue is at R731 million and the company has declared a maiden dividend of 5.4 cents and says that is well equipped to pursue growth opportunities which includes…

9 May 2018 12PM 7 min

Trump’s decision on Iran could impact SA

Ross Harvey, Lead of Extractive Industries and Governance of Africa's Resources Programme at the South African Institute of International Affairs discusses the possible risks and impact on SA with Trump’s decision to pull his country out of the nuclear deal with Iran.

9 May 2018 12PM 9 min

RAC pitched a R13.50 per share takeover offer to Astoria

Piet Viljoen,the Chairman of RAC spoke to Giulietta Talevi to give clarity on RAC’s listing as well as provide details of the Astoria deal and why they cautioned investors.

8 May 2018 12PM 6 min

SA will struggle to stick to its promise to cut spending - Nene

Finance Minister Nhlanhla Nene has warned that the country will struggle to meet its promise to cut spending if government and unions fail to agree on inflation-linked wage increases. We avoided a Moody's credit rating downgrade earlier this year based on that promise to cut spending and with ratings agencies…

8 May 2018 12PM 6 min

IMF lifts SA’s GDP forecast

The international Monetary Fund is more upbeat about the country's growth potential - it has raised the growth forecast from 0.9% to 1.5% and 1.7% for 2018 and 2019 respectively. The decision was largely driven by political changes which could benefit economic policy but the IMF has expressed concern over…

8 May 2018 12PM 7 min

KPMG rethinks its future in SA

Scandal hit KPMG is reviewing its business model and has welcomed the Independent Regulatory Board for Auditors' plan to review its turnaround strategy. Bernard Agulhas, CEO of the IRBA gives us some insight on what could be on the cards for the audit firm.

7 May 2018 12PM 7 min

Redefine Properties posts 5.5% rise in first-half distribution.

Redefine Properties released their interim results showing total revenue up 9.6% and it's first-half distribution rising 5.5%. We Giulietta caught up CEO, Andrew König for a look at the groups performance over the period.

7 May 2018 12PM 8 min

Growing store base gives Dis-Chem's annual earnings a boost

Dis-Chem's store-rollout drive has paid off. The addition of 21 new stores during the year ended February helped the retail pharmacy group deliver annual turnover growth of just over 13%, and a 6.6% rise in earnings. Dis-Chem's CFO Rui Morais provided some insight into the performance

4 May 2018 12PM 6 min