October retail slows ahead of festive season sales

Dec 13 2017 19:05

Retail sales increased 3.2% for October, compared to the 5.7% increase reported in September as consumers held back on spending ahead of Black Friday, says an analyst.


Markus Jooste's racing interests in spotlight as regulator seeks answers

Dec 12 2017 17:17

The National Horseracing Authority of Southern Africa has requested clarity from Mayfair Speculators, the company dealing with former Steinhoff CEO Markus Jooste's horseracing interests.


Steinhoff shares stage partial comeback, still down 70% in a week

Dec 12 2017 12:35

While Steinhoff's share price has staged a partial two-day comeback this week, its stock is still down some 70% from where it was a week ago before the abrupt resignation of its CEO Markus Jooste.


Teetering Steinhoff prepares to shop around its retail assets

Dec 12 2017 06:01

Steinhoff International Holdings, which sells $89 mattresses to Americans and two-for-a-pound cans of tomato soup to the British, faces a potential fire sale of its global retail holdings as it battles for survival.


JSE investigating Steinhoff but won't halt trade

Dec 11 2017 15:58

The JSE has reiterated that it won't halt trading in Steinhoff shares, but says it is investigating the firm to determine if it has breached its listing requirements.


Wiese steps up efforts to save Steinhoff, seeks standstill on loan

Dec 11 2017 11:44

Steinhoff International Chairperson Christo Wiese is said to be negotiating a standstill deal on a R24bn margin loan under which banks would suspend the sale of stock until next year.


Steinhoff fallout: Fedusa, PIC to discuss pension damage control

Dec 11 2017 12:22

Union Fedusa is to meet the Public Investment Corporation over the Steinhoff meltdown to find ways of salvaging workers' pensions managed by the PIC.


Investec says exposure to Steinhoff negligible

Dec 11 2017 11:01

Investec says losses from the Steinhoff saga could come to a maximum of 3% of post-tax operating profit as the exposure represents a small portion of the group's balance sheet.


Steinhoff continues trade, appoints subcommittee

Dec 11 2017 09:45

Disgraced retail international holding company Steinhoff has established a board subcommittee to bolster independent governance following the resignation of CEO Markus Jooste over accounting irregularities.

Inside Fin24.com


Markus Jooste: High life, big fall

Dec 10 2017 05:53

How the man behind SA’s largest corporate scandal is less than beloved by his neighbours after refusing to let them pass by his seaside plot.


Steinhoff calls in heavyweights to help defuse accounts crisis

Dec 09 2017 19:22

Steinhoff International's response to an accounting scandal that wiped €11bn from the value of the global retailer, has been to assign three board members to keep a closer eye on corporate governance.

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