A basic knowledge of finance could save SA from another Steinhoff

2018-04-13 06:00

If more people know how to recognise financial red flags in business, the damage caused by corporate fraud - or even honest mistakes - could be radically reduced, says Kumeshnee West.

Steinhoff’s a black box too big to ignore for vulture investors

2018-03-14 09:12

Steinhoff may look like a non-starter for most investors: its former CEO is under investigation and there’s the matter of the "missing" R60bn in cash. Yet buyers have piled in.

Steinhoff to sell part of stake in KAP to help settle debt

2018-03-13 11:08

Steinhoff International Holding has decided to launch an accelerated book-build of up to 450 million ordinary shares in KAP Industrial Holdings.

Shoprite profits ray of light to Wiese after $2bn Steinhoff loss

2018-02-28 08:43

Profits from his $1.9bn stake in Shoprite have helped compensate Christo Wiese for the more than R23.45bn he lost after Steinhoff shares plunged 85%.

Bank of America said to bring in law firm to examine Steinhoff charge

2018-02-08 09:39

Bank of America has hired Davis Polk & Wardwell to conduct an internal review of a R3.5bn charge-off tied to the SA retailer.

Steinhoff finds $1.1bn under the mattress. Is it enough?

2018-01-25 19:18

Steinhoff International's quest for cash has yielded about $1.1bn from asset sales as the embattled retailer struggles to stay afloat.

Hero to short sellers rose from social work to Steinhoff win

2018-01-19 18:19

A year before unleashing a damning report that has detailed accounting irregularities at Steinhoff International Holdings, one of its authors faced a reckoning of his own.

Viceroy short seller who flagged Steinhoff irregularities steps forward

2018-01-18 08:12

The mysterious short seller from Viceroy Research who co-wrote a report questioning Steinhoff's financials has turned out to be a former British social worker.

Overwhelming response to sale of Markus Jooste's exclusive Val de Vie plot

2018-01-16 20:00

A vacant plot owned by former Steinhoff CEO Markus Jooste at the luxury Val de Vie security estate near Paarl in the Cape Winelands, is up for sale for R15m.

SA Steinhoff unit mulls early redemption of bonds

2018-01-12 09:19

Steinhoff International Holdings has said its local units is considering an early redemption of all notes in issue as it struggles to stay afloat amid an accounting scandal.


Bank of America said to seek some margin loan sales after Steinhoff loss

2018-03-21 14:13

Bank of America is offloading some margin loans after losing $292m on soured credit to the former Steinhoff chair Christo Wiese, claim people in the know.

Why SA needs formal rules for class action lawsuits

2018-03-14 07:18

South Africa needs comprehensive legislation and court rules regulating class actions suits to better serve the principle of access to the justice system, says Theo Broodryk.

Markus Jooste conspired with other Steinhoff execs - report

2018-03-02 06:35

Steinhoff International's former CEO Markus Jooste conspired with fellow executives to move revenue figures around subsidiaries to boost their balance sheets, according to a German newspaper.

HSBC loan loss rise said to be tied to Steinhoff, Carillion

2018-02-20 22:00

HSBC is the latest global bank to take hits from the fallout of Steinhoff International and Carillion, says a source.

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 sells private jet to US broker as cash runs low

2018-01-20 07:00

Steinhoff International has sold its luxury Gulfstream 550 private jet to US aircraft broker Avpro as it seeks to boost liquidity.

Steinhoff hands over 15 years of financial records to unions

2018-01-19 12:49

Steinhoff has agreed to allow the Federation of Unions of South Africa and the Public Servants Association access to financials as far back as 2002.

Bank of America's $292m charge tied to Steinhoff turmoil

2018-01-17 16:46

Bank of America has just joined a roster of big US lenders suffering multimillion-dollar burns on their dealings linked to Steinhoff International.

SA investors want to join Dutch class action against Steinhoff - report

2018-01-12 11:57

The investor lawsuit is one of a number in the works by European law firms, after Steinhoff investors lost billions of euros as its share price plummeted.

Aspen moves to reassure investors after share price fall

2018-01-09 17:01

Aspen’s share price dropped by about 8% before recovering on the back of rumours that research group Viceroy was investigating the pharmaceutical company.

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.