Corruption hinders growth, results in fewer jobs – Patel

2018-02-19 19:35

Economic Development Minister Ebrahim Patel has spoken out against corruption in SOEs and in the private sector, calling players to combat the "cancer".

Wiese suffers billions in losses as he cuts stake in Steinhoff

2018-02-12 11:45

The SA billionaire and former Steinhoff chair has cut his stake in Steinhoff International Holdings to 6.2%.

Investec's Bernard Kantor caught in Steinhoff headlights

2018-02-09 16:58

Disgraced former Steinhoff boss Markus Jooste’s horse racing company, Mayfair Speculators, has refused to repay a R250m credit facility extended to the company by Investec.

CHART: Viceroy's targets no surefire downward bet

2018-02-07 15:41

It’s been a case of you win some, you lose some for Viceroy Research, the US-based short seller that has targeted SA bank Capitec and retailer Steinhoff.

Steinhoff seeks bond waivers, confirms summons

2018-02-06 14:33

The global retail conglomerate its seeking waivers from the holders of R40.2bn of its bonds over its delayed 2017 financial statements.

Steinhoff announces dividend freeze, creditor waiver proposals

2018-02-02 16:16

The retailer is set to recommend that certain of its financial creditors support it by providing waivers, as it seeks to hold onto its money.

Nomura joins list of banks burnt by Steinhoff meltdown

2018-02-02 07:50

In its third-quarter earnings report, Japan’s biggest brokerage said it booked an unrealised loss of about ¥14bn. The loss was tied to Steinhoff, say people with knowledge of the matter.

Steinhoff goes to Parliament: 5 key takeaways

2018-02-01 18:41

The top leadership of the embattled retailer, including its former chair Christo Wiese, answered questions about Markus Jooste, financial irregularities and its sharp share price decline.

As it happened - Parliament holds first hearing into Steinhoff

2018-01-31 09:31

A joint sitting of three Parliamentary committees heard from regulatory oversight bodies and Steinhoff's top leadership about the challenges facing embattled retailer, and how they are impacting on South Africans.

Viceroy highlights close ties between Capitec, PSG and Steinhoff bosses

2018-01-30 15:35

The potentially damning Viceroy research report into Capitec has pointed out the close ties between members of the bank’s executive board and those of Steinhoff.


Reduction in Steinhoff shareholding a forced sale, says Christo Wiese

2018-02-13 06:45

The former chairperson of Steinhoff International Holdings has had his stake in the global retailer cut to about 6% from 20.5%.

Wiese cuts stake in retailer Steinhoff to 6%

2018-02-11 12:54

Former Steinhoff chair Christo Wiese has slashed his stake in the retail holding company from 21% to 6%, Bloomberg reports.

Pep parent powers on, despite Steinhoff scandals

2018-02-09 15:01

Despite the struggles of its parent company, the quarterly revenue of Steinhoff Africa Retail (STAR) increased by 15.5% to R18.4bn on the back of a strong performance by its discount clothing stores.

Hawks meet with Steinhoff leadership, but no charges yet against Markus Jooste

2018-02-07 11:10

The Hawks have met with the chairperson of Steinhoff’s audit committee and director Steve Booysen over a document outlining the firm's suspicions that Markus Jooste had contravened the corruption act.

Court cases mounting against Steinhoff

2018-02-05 12:37

Steinhoff is now facing at least two class-action style lawsuits in Europe, as aggrieved investors try and recoup losses from its share price plunge.

Geraldine Fraser-Moleketi on Steinhoff: I reject corruption by anyone

2018-02-02 10:21

There is a special onus on the corporate sector to contribute to our sustainability, writes Geraldine J Fraser-Moleketi.

Steinhoff’s angry hometown erases traces of its fallen star

2018-02-02 07:22

As thousands gathered near Cape Town last weekend for South Africa’s oldest horse race, five-time owner-of-the-year Markus Jooste was nowhere to be seen. But he wasn’t forgotten.

JSE warns Steinhoff subsidiary over late financial reports

2018-02-01 14:14

The local stock exchange has warned a subsidiary of Steinhoff that it will suspend trade in its bonds if it does not submit its annual report by the end of February.

Steinhoff: Delay in results announcement won't affect share trade

2018-01-30 21:00

Global retail group Steinhoff has announced that its delayed year-end results for 2017 won't be ready for publication by the end of January.

Capitec is solvent - SA Reserve Bank

2018-01-30 12:56

The South African Reserve Bank has responded to a call from US-based research group Viceroy that it should put Capitec under curatorship.

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