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Cape Town - In case you missed it, here is a roundup of Thursday's top 5 reads on Fin24.
Payouts for KPMG SA execs
KPMG paid severance packages to its top leadership who left the company in September, the auditing firm told Parliament's watchdog committee.
MPs heard during the briefing that KPMG has taken no action yet against possible transgressors relating to the work done in respect to Oakbay and the report on the “rogue unit”.
Tim Brauteseth from the DA said KPMG's response was not providing comfort to the millions of South Africans who want to see action.
"What gives comfort is when people are being taken away in handcuffs. But this doesn't happen in South Africa. Instead, executives receive golden handshakes."
The auditing firm new leadership, meanwhile, maintained there was no systemic risk in the organisation, despite ignoring red flags raised in the work it has done for Gupta-linked entities.
MTN loses battle against employees
Twenty radio mast engineers employed by MTN in Durban have won the right to keep their personal company cars and petrol cards, after the cellphone giant argued these should be taken away.
MTN had argued in an arbitration case that the company would save money by ditching personal cars and petrol cards and pooling cars for the employees instead. Nationally, about 520 employees were affected by the decision.
"It is a resounding victory for the employees and a modern day equivalent of David vs Goliath," said the employees' attorney Dean Caro.
iPhone 8 SA launch date revealed
The South African iStore has announced it will begin sales of the new iPhone 8 on Friday October 20
The Apple store has not yet announced the availability of the new iPhone X. Prices have not been revealed as yet.
The iPhone 8 and 8 Plus promise to have the highest video capability in a smartphone, according to Apple.
SAA said to hire British industry veteran to turn airline around
South African Airways has agreed to hire British industry veteran Peter Davies, a restructuring expert, to help turn around the state-owned airline and meet conditions laid down by lenders to roll over debt.
Incoming CEO Vuyani Jarana met with Davies last month and agreed to help try to return SAA to profit. Davies is a former CEO of European airlines including Air Malta and Brussels Airlines and currently runs London-based consultancy Airline Management.
"We are finalising steps that will lead to the appointment of a chief restructuring officer," SAA spokesperson Thali Thali said in emailed comments."
OUTA lays charges against suspended Eskom ex-boss Koko
The Organisation Undoing Tax Abuse said it has laid criminal charges against suspended Eskom boss Matshela Koko regarding a series of irregularities, corruption and fraud.
“We have built a solid case against Koko with evidence of misconduct in his role as an Eskom executive and his relationship with the Guptas,” said OUTA chief operating officer Ben Theron.
Koko is accused of using his position at Eskom to help the Guptas to buy Optimum Coal Holdings and its Optimum and Koornfontein coal mines from Glencore, by helping put those businesses under financial pressure to force the sale to the Guptas and helping fund the Guptas’ purchase.
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