25 October 2018

Tito searches for the best of times in the worst of times

The finance minister said the economy was at a crossroads as he cut this year’s growth forecast and raised the projected budget deficit.

Famous Brands’ UK burger chain enters CVA

The Company Voluntary Arrangement will give Gourmet Burger Kitchen space to restructure to help ensure its financial viability into the future.

Howden offers minorities big delisting premium

The gas handling equipment supplier said the R44 per share gives minorities a unique opportunity to exit their holdings of the illiquid stock.

Long4Life beds down acquisitions

The investment group says its operating businesses have delivered according to expectations despite the challenging economic climate.

Winter sales and weak rand benefit Truworths

The retailer’s end-of-winter sale commenced at the start of its new financial year, while the weaker rand boosted revenue from the UK

Just Share's response to the JSE Consultation Paper

On 19 September, the JSE published for public comment a “Consultation Paper on possible regulatory responses to recent events surrounding listed issuers and trading in their...

Fintech launches fun savings app for SA millennials

An AI-powered financial literacy platform aimed at millennials, building trust and security for personal finance...

Recession Proof US Shares worth researching

As the US market approaches a plateau it is probably a good time to look for recession-proof investments.

24 October 2018

intu’s value falls ahead of takeover bid

The shopping centre owner has lowered the value of its properties due to negative sentiment towards retail property in the UK.

Anglo revises platinum production higher after strong quarter

The diversified miner produced 1% more metal and diamonds across its operations in the three months to September.

Astoria maintains equity position despite volatility

The investment group says it continues to engage with major shareholders on ways to unlock value due to its discount to NAV.

Parliamentary Monitoring Group: The Week: Mini-budget, Debates and Hearings top the agenda

An eclectic week of parliamentary action beckons in the main chambers and Committee corridor, with all eyes on the new Minister of Finance, Tito Mboweni, when...

Notes from the House: Is the award-winning Competition Commission starting to smell bad?

Democratic Alliance fears that if the Competition Amendment Bill becomes law the Competitions Commission would gain considerable scope to intervene in market structures.

ANALYSIS: Ace Magashule's unstoppable oncoming train, now a few metres closer

After all of the fire and fury around the Economic Freedom Fighters and the VBS Bank scandal, which should in all honesty be called the VBS/ANC/EFF...

Climate Change: The lack of political will: The biggest hurdle to averting climate disaster

Scientists released a report on global climate change this October that comes with the starkest warning yet: We have just 12 years to make radical changes...

23 October 2018

Lonmin strikes new loan deal before takeover

The $200 million raised from China’s state-backed Pangaea Investments will be used to settle current restrictive loans and provide more liquidity.

Verimark proposes delisting after volatile first half

The retailer and direct marketing company has received notice from the Van Straaten Family Trust of its plans to buy out minority shareholders.

Howden flags weaker earnings ahead of possible delisting

Howden Africa released a trading update ahead of a possible offer to minority shareholders and take the company private.

Calgro M3 conserves cash after tough first half

The affordable housing developer has had to adjust to new accounting rules, while extra costs piled up due to illegal land occupations.

Octodec maintains distribution in challenging economy

The REIT says it plans to consolidate its portfolio this year as it positions itself for sustainable growth.

The Week Ahead of 23 October 2018

Caution remains the watchword on global equity markets...

Scorpio: The great R497m Telkom/SAPS switcheroo

The opaque and apparently convoluted nature of a R497-million renewable contract between Telkom/BCX, 41% owned by government, and SAPS for a centralised ICT smart operating centre...

22 October 2018

Clover rallies on acquisition talks

The dairy and drinks group says a third party is interested in buying its entire share capital.

intu mulls 215p per share takeout offer

An investment consortium has revised an earlier indicative offer higher to an effective 210.4p per share after allowing for intu’s interim 4.6p dividend.

Steinhoff wins another reprieve

More than 85% of the retailer's creditors have agreed to give in an extra month to set its restructuring in motion.

Santova taps into India trade route

The group has bought SAI Logistics to benefit from trade between the world’s second most populous nation and the UK.

THE KHASHOGGI AFFAIR: A murder in the Orient that could throw Saudi international standing into the dustbin of history

Jamal Khashoggi's killing in Istanbul, almost certainly carried out by operatives from Saudi Arabia, inside the Saudi consulate, has naturally roiled Saudi-Turkish relations. But it has...

MOTORING: Volkswagen Polo GTI: The real McCoy

The GTI designation is one of the motoring world's most iconic badges. It promises spirited, engaging driving from an otherwise unassuming hatchback. But does the current...

19 October 2018

Resilient releases Fakie report as it engages with investors

The report compiled by former auditor general Shauket Fakie clears the REIT of wrongdoing but investors want more answers.

Datatec recovery set to continue

The ICT group says an improved performance across its divisions should carry on for the rest of the year

Calgro’s earnings decimated after tough 6 months

The developer says headline earnings per share will be virtually wiped out after one of the most difficult periods ever.

PSG Interim Results

Against an especially difficult background, PSG Konsult presented a very strong set of results for the six months to end August 2018.

Who’s doing what in the South African & African M&A space?

Weekly summary of M&A activity by South African companies as well as activity from across the rest of Africa...

Corporate finance activity of the week

Weekly summary of corporate finance activity by South African exchange listed companies...

Uber and Lyft Race Toward IPOs Next Year as Banks Line Up

Uber Technologies Inc. and Lyft Inc. are solidifying plans for initial public offerings next year, when a wide pool of investors will decide what the money-losing...

REPORTER'S NOTEBOOK: Tito Mboweni comes to Parliament to talk VBS scandal and multiple failures that made it possible

Finance Minister Tito Mboweni said on Tuesday that it was 'a huge concern' that South Africa was failed by VBS Mutual Bank external auditors - a...

Thorts – SA’s SOEs – prime candidates for business rescue?

State Owned Enterprises in South Africa continue to struggle under severe financial pressure...

Bonang Mohale: Stimulus commitments are welcome, but delivery must be pulled forward

The October 2018 MTBPS is an opportune time for a concerted effort to overcome obstacles to a more inclusive growth path.

Zapiro: Saudi Diplomacy

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