Absa profit slump; CR, Tito Twitter storm; De Beers slashes diamond prices; Edcon; Old Mutual

Loading player...
In today's news headlines:
- Absa profits plummet;
- President Cyril Ramaphosa has ‘strongly reprimanded’ his finance minister Tito Mboweni;
- Edcon is finalising selling off parts of Edgars;
- Old Mutual has warned of losses when it releases its results next month; and
- De Beers has cut diamond prices. Learn more about your ad choices. Visit megaphone.fm/adchoices
24 Aug 2020 3PM English South Africa Investing · Business News

Other recent episodes

The BizNews Edge: African Bank's Billion-Rand Acquisition Trap

African Bank swung to a loss of nearly a billion rand after a four-year spree of buying and bolting together three banks to build a full-service lender, and the bad debt charge is still climbing. The contrast is brutal: a focused platinum-and-chrome miner, Tharisa, is printing cash with profit up…
25 Jun 7AM 9 min

The BizNews Edge: Nedbank, Grindrod and the coal stock no one was watching

Nedbank confirmed its guidance this morning, and its East Africa deal is weeks from closing - a transformation most investors are still underpricing. Grindrod's Port of Maputo posted extraordinary volumes, but the share may already be priced for perfection. A small coal miner no one follows just disclosed an 1,800%…
24 Jun 8AM 26 min