Vote on extra pay for Steinhoff directors scrapped
Steinhoff has scraped a vote on extra pay for directors at its AGM
Steinhoff
Parliament committee resolves to subpoena Markus Jooste
Parliament’s joint-committees have agreed to subpoena former Steinhoff CEO Markus Jooste, after he declined an invitation to appear before them
Jooste won’t appear before parly inquiry – report
Former Steinhoff CEO was invited to appear before a joint meeting on Wednesday of four committees, including those of finance and public accounts.
Steinhoff wants to pay board members up to R2.9m for handling fallout
PwC is currently conducting a forensic investigation into the Stellenbosch-headquartered firm’s books.
Full day of hearings into corporate scandals in Parliament
The standing committee on finance will roll up its sleeves for a full day of hearings into Steinhoff, KPMG, VBS Mutual Bank, and SARS
Steinhoff submitted ‘malicious’ report to Hawks
The Hawks have told the Standing Committee on Public Accounts that the report contains ‘nothing’
Steinhoff to sell part of stake in KAP to help settle debt
The conglomerate has been facing liquidity issues since early December, when the group’s auditors flagged financial irregularities in its financials.
Formal rules are needed for class action lawsuits
A number of cases brought before the courts have started to build a framework to guide class actions. But there is still a gap
Reports erode faith in Resilient
Its share price has plummeted and investors are waiting for the results of an investigation
Digging under way after Steinhoff collapse
After a long silence over the Steinhoff International saga, which cost investors R200-billion, investigators are now kicking up the dust.
Is Capitec Another Steinhoff? Not Quite.
Capitec stock fell by about 20% when Viceroy Research released a report claiming that Capitec bank “is a wolf in a sheep’s clothing and a loan shark”
Viceroy: Capitec is ‘a wolf in sheep’s clothing’
In a new 33-page report, published and uploaded to the Viceroy website, the short sellers said they did not buy Capitec’s ‘good news story’.
Holes in Steinhoff’s management led to its corporate scandal
The Steinhoff case highlights weaknesses in the governance structure the company had chosen to operate under.
Focus shifts to Steinhoff’s ex-chair Christo Wiese
It appears US banks lost $1-billion when they loaned to the tycoon who used his Steinhoff shares as collateral
Unshackling licensed professions would create jobs
‘Opening licensed markets to less regulation would yield a net good for South Africa,’ says the writer
Silence shrouds Steinhoff saga
Major investors are waiting anxiously, as the company needs to produce financials by the end of January if its shares are to continue trading
Troubled Steinhoff to restate results back to 2015
Last month, Steinhoff revealed it was under criminal and tax investigations, with a reported six-billion-euro ($7-billion) hole in its accounts.
South Africa’s race relations laid bare in Steinhoff scandal
The corporate scandal will do South Africa a huge service if it makes the point that corruption and mismanagement have nothing to do with race.
Steinhoff scandal points to major gaps in stopping unethical corporate behaviour
A suit of highly paid professional services seem to have failed investors in the unfolding Steinhoff corporate scandal
’Tis time for Steinhoff cutbacks
‘Just a heads-up that this year’s Secret Santa cap has been dropped to R500 000 post-tax, down 50% from last year’s record high of R1-million’
Snubbing Steinhoff has paid off
Futuregrowth dumped its shares in the company years ago because the warning signs were clear
Editorial: Complexity hides dirty business
‘The entire, vast, expensive edifice of surveillance and control failed’
Gigaba notes with “great concern” South Africans losses in Steinhoff
The JSE will be conducting an internal audit into the holdings company and is expected to report its findings to the minister of finance.
Steinhoff — The largest corporate failure on the JSE
Allegations of earnings manipulations, uncontrolled acquisition sprees and tax fraud are just the tip of the iceberg for the retail holding company
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Steinhoff shareholders approve Conforama deal
Household goods company Steinhoff announced on Fridayall the resolutions required to approve the Conforama transaction were passed without opposition.
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JSE drops Discovery from top-40, adds Steinhoff
South African furniture maker and retailer Steinhoff will replace insurer Discovery on the top-40 index, bourse exchange operator JSE said.
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JSE sharply higher on world markets
South African stocks were sharply higher at midday on Tuesday following in the footsteps of European markets, but a stronger rand restricted gains. Above-forecast economic growth data added to the positive sentiment. At 11.59am, the all-share index was up 1,22% at 30 176,680, thanks to a 3,08% gain in banks.
