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Nene: No (more) tax hikes - maybe

Finance Minister Nhlanhla Nene insists that further tax hikes are not inevitable in the next few years - despite a pressing need to raise extra revenue to finance new policy goals, and control budget deficits in the face of lacklustre economic growth.

BEE group in bid to scrap R664m Lonmin deal

Platinum miner Lonmin is bracing itself for a bitter fight as members of the Bapo ba Mogale community, who live on the land it mines, go to court this week in a bid to unravel its R664-million empowerment deal, pushed through three months ago.

Forget the myths about foreigners

As reports surfaced this week of a new wave of attacks on foreign migrants working in the informal economy, this time in Bellville and Philippi in Cape Town and near Secunda in Mpuma-langa, it is clear that the problems that bubbled over recently are far from resolved.

Tales of indebted misery clash with lenders' versions

A woman walked quietly out of the court while Judge Siraj Desai and advocate Piet Louw continued to debate the concept of "free choice" in the context of borrowing money.

Home prices tipped to go up 5.8%

Research company Lightstone expects house prices to rise 5.8% this year.

Give SARS a chance, says Nene, amid staff exodus

Finance Minister Nhlanhla Nene has set up an advisory panel to deal with the fallout of corruption claims and an exodus of top executives from the South African Revenue Service.
The Davos World Economic Forum 2015

Pay-hike battle a threat to SA finances

Public-sector wage talks pose the biggest immediate threat to government finances and could undermine South Africa's investment-grade credit rating, if civil servants wrestle a pay deal higher than the targets Finance Minister Nhlanhla Nene outlined in his 2015 budget.

JSE 'finds no evidence' for Zille's insider trading claim

DA leader Helen Zille's surprising allegation that insider trading at Telkom led to the company's shares touching R80 last week has attracted the attention of at least one regulatory body.

Move to strengthen court oversight of garnishee orders

Stellenbosch University's Legal Aid Clinic does not want to stop unsecured lending - it wants more effective oversight of the granting of emolument attachment orders (EAOs), which are often issued to allow lenders to recover their debt.

Accentuate's AGM floored again

It might be the largest flooring company in the country, but AltX-listed Accentuate will remain top-of-mind for the fact that it has been embroiled in one of the longest-running shareholder battles on the JSE.
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TopTV rescue may cost IDC millions

The state-owned Industrial Development Corporation is facing a R477-million court demand from one of the empowerment shareholders in the former TopTV.

Whitey on the budget, poor growth and Eskom

Shoprite enjoyed a steamy 42% share price rally from October to end-January, but the fun appears to be over. This week Shoprite announced half-year results to December which showed trading profit up 11.6% and a 9% rise in net income. The market's found the results as appetising as a tin of cold baked beans, selling the stock down 7% this week. CEO Whitey Basson discusses the numbers

Phuti Mahanyele is going places under her own steam

Phuti Mahanyele is confident about her future - and the outlook for SA - as she quits CEO post

Engaging manner is Mahanyele's style

Shanduka's outgoing CEO, Phuti Mahanyele, says the American Chamber of Commerce in South Africa was wrong to warn last week that new legislation was deterring foreign investment.

Stock Talk: Laughter, tears and questions as execs quit

The trickle of executives from the hallowed halls of corporate South Africa has gained momentum and now looks in danger of becoming a full-scale flood.

Little hope for Joffe's Adcock move

A proposal by Brian Joffe's Bidvest to buy out Adcock Ingram's BEE partners and list a special-purpose vehicle has triggered an automatic offer to all minority shareholders at R52 per share - but analysts say there's practically no chance of widespread shareholder support for the deal.

Share buybacks offer execs an easy way out

It's time the lawmakers, mainly the ones who make the tax laws, and the regulators in this country started taking share buybacks seriously.
Rob Rose

A sweet something for Steinhoff in JD deal

Markus Jooste, racehorse enthusiast and one of the savviest dealmakers in South Africa, doesn't do too many silly deals.
2014 BET Awards - Arrivals

Mafikizolo's Nhlanhla on her passion for fashion

Nhlanhla Nciza, lead singer of Afro-pop group Mafikizolo, talks to Thekiso Anthony Lefifi about debuting her NN Vintage collection at Mercedes-Benz Fashion Week Joburg 2015, how she spends her money and the challenges facing the fashion industry

At last, technology that specifically targets African needs

Many global manufacturers point to Africa as the next big growth market, with its own unique appeal - and then target the continent with the same cut-and-paste products that appear on shelves the world over.

Bail-outs and 'behavioural tax' to save Eskom

The government will give Eskom a R10-billion bail-out before June and hike electricity prices to curb demand as it tackles the power crisis hobbling mine and factory output.

Silence on Abil deafening

The lack of information about unsecured lender African Bank, which collapsed in August, is unsettling investors who stand to lose everything if it can't be rescued.
ArcelorMittal workers from Florange occupy a blast furnace at the company's Florange-Hayange site in Hayange

Mittal eyes BEE deal to mend bridges

ArcelorMittal South Africa has received a mandate from its largest shareholders in London, presumably steel magnate Lakshmi Mittal, to mend bridges with the government and rectify its almost non-existing black empowerment status.

Eternal sunshine of a rogue trader's mind

It is 20 years since the original rogue trader, Nick Leeson, was handcuffed at Frankfurt Airport in Germany after he gambled away £827-million belonging to Barings Bank and sank London's oldest bank.

Nedbank results leave market cold

Mike Brown, the CEO of Nedbank, had more bounce in his step as he took to the podium this week to deliver what he called his Sona - the state of Nedbank's accounts.

Activist questions openness in BNP deal

New questions have emerged over whether JD Group was fully transparent in its R4.6-billion deal to sell its financing arm to BNP Paribas.

Over to financial industry to bring tax-free savings to life

The National Treasury has issued its final regulations paving the way for a range of tax-free savings accounts from today - but the eleventh-hour notice has not given financial services companies much time to prepare products that fit the format.

Shareholders put brakes on Dawn buyback

What is going on at Distribution and Warehousing Network?

Gold giants want pay linked to productivity

The debate about wages for mineworker in the gold mining sector is about to take a long-overdue turn.

Dear Corruption Watch: Why we focus on public sector graft

Dear Corruption Watch, I've reported corruption on your website - things going on in the body corporate where I live, and evidence to show improper payments billed to me for construction work - but you've replied that your focus is on the misuse of public resources or power.

Here's a better plan for the broadband roll-out

The announcement by President Jacob Zuma in his state of the nation address that Telkom would be the "lead agency" for the roll-out of broadband in underserviced parts of South Africa ignited a political firestorm.

Converging pressures dictate austerity

Before Nhlanhla Nene presented his budget this week, many thought it would be the most daunting for any finance minister since 1994.

Simply solving complex problems

Sarah Dexter is the MD and founder of OIL, a consumer insight and communication strategy agency and part of Lowe and Partners SA. She tells Margaret Harris how her inherent love of biology, science and investigation fuelled her drive to run a research consultancy in the advertising industry

How to benefit from diversity in the workplace

Diversity in the workplace provides opportunities as it leads to broader perspectives on business models and solutions, although it can also present challenges for companies.
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When drones aren’t enough, Amazon envisions trucks with 3D printers

When 30-minute drone delivery isn’t fast enough, Amazon.com will send in its 3D-printing trucks.
Minister of Energy of Trinidad and Tobago Ramnarine, PM of Trinidad and Tobago Persad-Bissessar, Venezuela's President Maduro and Venezuela's Oil and Mining Minister Chavez applaud after signing bilateral agreements in Port-of-Spain

South American countries discuss oil-for-tissues deal

Venezuela, plagued by shortages of basic goods, has been offered a reprieve by the prime minister of Trinidad & Tobago: exchange oil for tissue paper.

Under Armour turns ambitions to electronic apparel, monitoring apps

Athletic-gear maker envisions clothes that can track movement and biorhythms