Record sales for Alibaba & Steinhoff in "trouble"
The JSE hit an all-time high last week, but has subsequently retraced a bit. Macro: SACCI Business Confidence figures were released last week, and it’s just not getting better. Steinhoff is in “trouble” with the German authorities again - this time because they did not disclose a “material” transaction. Brait released a trading statement and Imperial - the car and logistics business - sold their chemicals business unit Schirm to AECI. Richemont reported results – profit up 45%, Tencent buys more of Snapchat, and Alibaba generated a record $25bn in sales on Singles day.