Tesco CEO knew things were bad, they were about to get worse

2018-10-11 17:13

Tesco Chief Executive Officer Dave Lewis got 1 300 emails from staff calling for change in his first days in the role. The troubled supermarket’s situation was about to get much worse.

Lenders give Steinhoff's Jooste more time to pay up

2018-09-25 17:55

Banks granted Steinhoff's former CEO, Markus Jooste, another extension to pay back his debt, as the global retailer that he headed struggles to survive an major accounting scandal.

La Grange's input 'insightful', say MPs

2018-08-29 20:45

Members of Parliament have found the evidence presented by former Steinhoff CFO Ben la Grange to be "insightful", providing more clarity on what went wrong at the retailer.

We're not friends - Steinhoff ex-CFO blames Jooste, auditors for accounting scandal

2018-08-29 18:16

Steinhoff's Ben La Grange has blamed departed leader Markus Jooste and auditors for the retailer’s accounting scandal, saying he became aware of any wrongdoing only days before the crisis erupted.

VBS CEO probe one of 265 others as Saica seeks to restore faith in accounting field

2018-07-26 14:34

Saica says it is determined to restore faith in the accounting profession - and the investigation into VBS CEO Andile Ramavhunga is one of 265 underway.

UK authorities are investigating whether KPMG’s SA woes could sink the global firm, reports FT

2018-07-20 09:59

The Bank of England is concerned that KPMG's South African activities could jeopardise the rest of its international network.

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.

 

Shareholders win right to sue Steinhoff in Netherlands

2018-09-26 18:27

A shareholder group got a green light to sue Steinhoff International in the Netherlands, kicking off a legal fight to recover some of the billions of dollars investors lost.

Video
 WATCH: Markus Jooste's top quotes to Parliament

Markus Jooste, the former head of the embattled retailer Steinhoff, fielded questions from MPs in Parliament on the conglomerate's governance and share price collapse. These are News24's top picks. Watch.

0 comments11464 Views

9 things you should know about Steinhoff’s appearance in Parliament – and why its shares surged 25%

2018-08-29 19:57

Steinhoff share price rose from R2.22 to R3.00 during the course of a hearing on Wednesday, before closing at R2.75, as investors liked what they heard.

Saica's hearing against accountant Khaya Sithole to continue

2018-08-29 09:39

The South African Institute of Chartered Accountants (Saica) inquiry into chartered accountant, commentator and former Wits lecturer Khaya Sithole is set to resume on Wednesday.

Steinhoff may be the tip of the iceberg - author

2018-07-24 12:52

Steinhoff raises the question of 'how much of our financial system is a deck of cards that can come tumbling down at any minute', says James-Brent Styan, author of a new book on the retailer's collapse.

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.

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