Markus Jooste: Court may need to rule on parly testimony, as MP's agree on subpoena

2018-05-22 14:20

A court may need to rule whether disgraced Steinhoff CEO Markus Jooste can testify before Parliament while he is the subject of a criminal investigation.

Five finance stories you need to know to start your day

2018-04-27 05:45

Christo Wiese sues Steinhoff, bus strike negotiations remain deadlocked, petrol price to increase, network operators must roll over data, and SARB warns debt at state-owned enterprises threatens financial stability.

Biggest Steinhoff shareholder is said to oppose two directors

2018-04-24 06:15

The Public Investment Corporation on Friday voted against the reappointment of Steve Booysen and Angela Kruger-Steinhoff to the global retailer's supervisory board, said a person familiar with the votes.

All eyes on Steinhoff's first AGM since accounting fiasco hit global retailer

2018-04-20 06:40

Steinhoff shareholders will get the opportunity to pose questions directly to the company’s leadership, when the global retailer holds its Annual General Meeting in the Netherlands.

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.

Tribunal approves merger of Steinhoff subsidiary

2018-01-29 19:23

The Competition Tribunal has conditionally approved a merger whereby Unitrans Automotive acquires Action Ford’s vehicle dealership business.

PSA wants to join class action case against Steinhoff

2018-01-25 16:48

The Public Servants Association says it wants to recoup money the Public Investment Corporation had invested in Steinhoff via state employee pension funds.

Our fight is not with Sun Met, but against Markus Jooste - union

2018-01-24 16:38

The Public Servants Association says that while a protest is set to take place at the race, it would be a broad “solidarity protest” against Markus Jooste, and not against the race itself.

Steinhoff wants to sell 29.5 million PSG shares to boost cash reserves

2018-01-22 11:45

The embattled Stellenbosch-headquartered global furniture group says the sale of 29.5 million shares in PSG Group Limited will only go ahead if it is offered an 'acceptable' price.

Jayendra Naidoo steps down from Steinhoff supervisory board

2018-01-18 09:51

Jayendra Naidoo has tendered his resignation from the Steinhoff International board to focus on his job as chairperson of Steinhoff’s subsidiary Steinhoff Africa Retail Limited.


Steinhoff restructure: No guarantee Christo Wiese will get Pepkor back

2018-04-27 15:42

The SA billionaire also said he could not speculate whether crisis-hit retailer Steinhoff would be able to pay him back the R59bn he is claiming in a lawsuit.

Investec money manager upbeat on growth in Ramaphosa's SA

2018-04-26 13:29

South Africa’s economy is under new management, and Investec’s Chris Freund is among equities investors who are expecting growth to surprise to the upside.

Steinhoff shares drop over 15%

2018-04-23 18:37

Steinhoff shares fell as markets reacted to the global conglomerate's annual general meeting which took place in the Netherlands on Friday.

Investors rush to get in on Steinhoff's KAP share sale

2018-03-14 11:52

Less than 24 hours after announcing that it had decided to sell part of its stake in KAP Industrial Holdings, Steinhoff announced it had raised R3.667bn.

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 files show Jooste 'repeatedly lied' to investors and regulators - PSA

2018-01-26 12:53

The Public Servants Association says a preliminary review of documents shows Steinhoff ex-CEO Markus Jooste repeatedly provided assurances in reports that the group's financial health was sound.

PSA won't disrupt Sun Met, but Cosatu may over Jooste

2018-01-25 14:20

While the Public Servants Association says it won't disrupt the upcoming Sun Met horse race, Cosatu in the Western Cape is set to picket at the gates of Kenilworth Racecourse.

Steinhoff raises R7.1bn from sale of PSG shares

2018-01-23 07:43

The sale is the latest in a line of disposals aimed at shoring up the retailer’s battered balance sheet.

Steinhoff cites lender support as retailer strives for recovery

2018-01-18 19:04

The Stellenbosch-headquartered retailer said it had won the support of South African lenders, as it attempts to survive an accounting scandal.

Goldman Sachs is said to join JPMorgan in taking Steinhoff loss

2018-01-13 11:55

The group is likely to disclose a loss linked to the embattled SA retailer, according to people briefed on the firm’s financial results.

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