Business 19.4.2018 03:19 pm

Absa denies role in Steinhoff shareholders’ losses

The bank says it has not received any notification from VEB regarding its liability for damages incurred by Steinhoff shareholders.

Absa Bank, a wholly-owned subsidiary of Barclays Africa Group Limited (BGL), has distanced itself from compiling or reviewing the financial statements of Steinhoff International, saying that it was only the retailers' Johannesburg Stock Exchange (JSE) transaction sponsor.

Absa denies role in Steinhoff shareholders’ losses
Absa denies role in Steinhoff shareholders’ losses

Absa denies role in Steinhoff shareholders’ losses

The bank says it has not received any notification from VEB regarding its liability for damages incurred by Steinhoff shareholders.

Youth chamber threatens govt entities with court over failure to comply with BEE
Business

Youth chamber threatens govt entities with court over failure to comply with BEE

The YCCSA says government entities in Mpumalanga are reluctant to implement the provisions of the PPPFA.
Whipped investment funds are sticking with Resilient
Business

Whipped investment funds are sticking with Resilient

Despite nervousness about whether market regulators will find the property group guilty of share price manipulation.
Investors still heading offshore – Glacier International
Business

Investors still heading offshore – Glacier International

Flows suggest breakdown in relationship between rand weakness and externalisation.
Imperial Holdings accepts CEO Lamberti’s resignation, appoints replacement
Business

Imperial Holdings accepts CEO Lamberti’s resignation, appoints replacement

Osman Arbee has been appointed group CEO with effect from May 1.
Anglo American Platinum invests in high-yield energy technologies
Business

Anglo American Platinum invests in high-yield energy technologies

Anglo American Platinum says the investment boosts demand for its metals.
Companies still fronting through trusts
Business

Companies still fronting through trusts

Ntuli says there are several companies that have been referred for criminal investigation.
Eskom board continues to clean house
Business

Eskom board continues to clean house

Twenty-four Eskom employees have been identified to be doing business with the power utility.
Mark Lamberti resigns as CEO of Imperial Holdings
Business

Mark Lamberti resigns as CEO of Imperial Holdings

This follows a high court judgment that found him guilty of discrimination after he referred to an employee as a ‘female employment equity candidate’.
Mediclinic says it expects to deliver results marginally ahead of expectations
Business

Mediclinic says it expects to deliver results marginally ahead of expectations

The private healthcare services group says its Middle East division is now entering an expansionary phase.
SA hosts on Airbnb platform received about 830 000 guests in 2017
Business

SA hosts on Airbnb platform received about 830 000 guests in 2017

Cape Town received about 350,000 Airbnb guests from over 150 countries.
German police raid Porsche execs in diesel probe
Business

German police raid Porsche execs in diesel probe

German police on Wednesday carried out raids on properties linked to two top Porsche executives and one ex-employee of the luxury carmaker as part of a fraud probe linked to the diesel emissions cheating scandal, prosecutors said.
Sassa top boss says sorry over grants fiasco, but…
Business

Sassa top boss says sorry over grants fiasco, but…

Paying legal costs out of her own pocket will have a negative impact on her family members, said Sassa’s acting CEO Pearl Bengu.
SAA awarded 4-Star Skytrax ranking for products, services
Business

SAA awarded 4-Star Skytrax ranking for products, services

Despite the challenges the airline is facing, it says awards demonstrate that SAA is standing its ground as one of the leading airlines in the world.
Sasfin says reaches deal to acquire SCMSA from Saxo Bank
Business

Sasfin says reaches deal to acquire SCMSA from Saxo Bank

The company says investment into SCMSA will lead to the facilitation of broader trade within SA financial markets.
Anglo American says rough diamond sales for De Beers’ third cycle of 2018 at $520m
Business

Anglo American says rough diamond sales for De Beers’ third cycle of 2018 at $520m

Mining conglomerate Anglo American said on Tuesday rough diamond sales for its subsidiary De Beers’ third sales cycle of 2018 amounted to $520m.
Independent Media says rivals attempt to scupper Sagarmatha listing
Business

Independent Media says rivals attempt to scupper Sagarmatha listing

The media conglomerate says the most malicious of these was the narrative that Independent Media was ‘technically insolvent’.
No wealth tax yet, but bigger administrative burden awaits taxpayers
Business

No wealth tax yet, but bigger administrative burden awaits taxpayers

The Davis Tax Committee has published its final report.
China to lift foreign ownership limits on automakers
Business

China to lift foreign ownership limits on automakers

China announced a timeline for lifting ownership limits on foreign automakers Tuesday, meeting a longtime demand of the United States and other countries seeking better access for their companies in the world’s biggest car market.
Ramaphosa appoints Trudi Makhaya as economic advisor
Business

Ramaphosa appoints Trudi Makhaya as economic advisor

Makhaya is a writer, economist and entrepreneur.
Cryptocurrencies’ tax scenarios still murky
Business

Cryptocurrencies’ tax scenarios still murky

One area of uncertainty relates to the VAT treatment of cryptocurrency transactions, and another to barter transaction scenarios.
Facebook confirms it collects data beyond users
Business

Facebook confirms it collects data beyond users

Facebook, embattled in a scandal over the mishandling of user data, confirmed Monday that it also collected information from people beyond their social network use.
Defaulting taxpayers to be prosecuted for outstanding returns – Sars
Business

Defaulting taxpayers to be prosecuted for outstanding returns – Sars

Failure to submit a tax or VAT return is a criminal offence in terms of the country’s tax legislation.
AngloGold Ashanti chief executive resigns
Business

AngloGold Ashanti chief executive resigns

Venkatakrishnan will remain in his current role until August 30, 2018.
Eskom eyeing 2% extra per year
Business

Eskom eyeing 2% extra per year

Dispels fears of 30% once-off increase.
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