Steinhoff shares have nearly doubled in 5 days - and one investor expects a violent move

2018-07-12 15:07

Steinhoff is the third most shorted stock on the market.

Markus Jooste profited big time from Steinhoff land deal, filings show

2018-06-22 13:37

In a set of property deals reviewed by Bloomberg, companies linked to former CEO Markus Jooste and Steinhoff associates profited by hundreds of millions of rand between 2002 and 2007.

How saving Steinhoff became Heather Sonn's 14-hour-a-day mission

2018-05-18 06:20

When things are broken, I want to fix them, says current Steinhoff chairperson Heather Sonn, who, until December, was running a small investment firm in Cape Town.

SA labour group calls on Steinhoff acting CEO to quit over loan

2018-05-06 20:00

Steinhoff acting CEO Danie van der Merwe should resign after it emerged he borrowed R26.4m backed by company shares a week before the stock collapsed, says the Federation of Unions of South Africa.

Markus Jooste set to cash in after striking deal with banks

2018-04-25 10:19

Steinhoff International former CEO Markus Jooste has been thrown a lifeline by banks as the global retailer he oversaw for 18 years struggles to survive an accounting scandal that happened under his watch.

STEINHOFF AGM WRAP: PwC probe confirms retailer overstated income and assets

2018-04-20 12:51

Four months after its share price plunged and its CEO Markus Jooste resigned, Steinhoff faced shareholders at its AGM on Friday. And in the end all its proposed motions were adopted.

Steinhoff's Christo Wiese defends company payments as legitimate

2018-04-11 06:50

Steinhoff earlier said two deals with entities related to its former chair and biggest shareholder didn’t follow proper disclosure processes.

Steinhoff submitted 'malicious' report to Hawks

2018-03-13 15:17

The report Steinhoff provided to the Hawks was "malicious" as it contained no information, the head of the Hawks' commercial crime unit has told Parliament.

Steinhoff accounting scandal may date back to at least 2014 - reports

2018-03-01 15:59

Leaked emails appear to show evidence that former Steinhoff CEO Markus Jooste was in contact with German Steinhoff managers in 2014 about allegedly manipulating data.

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.


Steinhoff's $13bn triumph for bean-counters

2018-07-03 06:01

Steinhoff’s liabilities due within 12 months vastly exceed its current assets. And what's a formality for most companies - confidence that it can keep the lights - is far from self-evident, argues Chris Bryant.

THE STEINHOFF SAGA: Part one - The making of a corporate giant

2018-06-19 20:07

In a series of in-depth features, the University of Stellenbosch Business School sheds light on Steinhoff's remarkable growth – and spectacular collapse. This is Part One: from humble beginnings in Germany to a massive global holding company.

Steinhoff says hole in accounts is deeper than first thought

2018-05-10 16:41

Steinhoff International says an investigation into the overstatement of profit and treatment of off-balance-sheet entities will result in further material impairments beyond the $7.2bn previously announced.

Steinhoff acting CEO repays share-backed loan taken days before plunge

2018-05-04 09:59

Steinhoff International acting CEO Danie van der Merwe has repaid a R26.4m loan backed by company shares that he took out a week before the retailer’s stock collapsed.

Translating masses of Steinhoff docs from English slows German criminal probe

2018-04-21 16:45

German authorities are struggling to analyse a wealth of financial documents seized from a Steinhoff subsidiary in late 2015 as the documents are written in English.

Steinhoff under fire as Germans extend criminal probe, unions picket AGM

2018-04-20 11:59

With Steinhoff facing pickets at the livestream of its AGM in Cape Town, German media reports that a criminal probe into the company has been expanded.

Steinhoff says payments to ex-chair Christo Wiese broke company rules

2018-04-10 14:01

Steinhoff says two deals with entities related to its former chair and biggest shareholder Christo Wiese didn’t follow proper disclosure processes, dragging the billionaire deeper into an accounting crisis.

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.

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.

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