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Fin24.com | JSE subdued as global equities remain on edge

Johannesburg – The JSE recorded another session of losses as global equities continued to trade weaker in the light of the political crisis in Italy. The index opened weaker and continued to trade under pressure for the remainder of the day. The local bourse was dragged further down by index heavyweight, Naspers , which lost 2.19% to close at R3 […]

Fin24.com | African operations boost Nampak‘s first-half results

Nampak , Africa’s largest packaging company, on Wednesday posted a 2% revenue increase to R8.8bn in earnings for the six months to end-March 2018. The group – with interests in plastics, paper and can products – increased trading profit by 7% due to high demand in the performance of the metals and plastics division on the African continent, where it […]

Fin24.com | Unions pitted against each other on National Minimum Wage Bill

Cape Town – Not all unions are pleased with the passing of the National Minimum Wage Bill. While the Federation of Unions of South Africa (Fedusa) and the Congress of South African Trade Unions (Cosatu) have welcomed the passing of the bill, the South African Federation of Trade Unions (Saftu) has vowed to continue fighting what it calls “poverty” wages. […]

Fin24.com | What if you missed monthly bond repayments on your property?

For a homeowner there are few financial stresses as serious as struggling to make your monthly bond repayments. According to Leapfrog Property Group, if you cannot work out a financial plan to keep your home, it might be best to put it on the market as soon as possible to recover the costs and settle with the mortgagor (usually the bank) […]

Fin24.com | Top 5 on Fin24: Steinhoff now 98% down on all-time high, no guarantee municipalities will get VBS money back and commuters fume over Gautrain delays

Cape Town – A roundup of Wednesday‘s top economic and finance reads on Fin24. Steinhoff now 98% down on all-time high Shares in global furniture and retail conglomerate Steinhoff International reached a new low in early trade in Wednesday morning, losing another 5% of the value on the day to trade at just R1.18 a share.  The stock – which […]

Fin24.com | No guarantee municipalities will get VBS money back – SARB

Cape Town – The Reserve Bank has committed to recover the monies of retail depositors of VBS Mutual Bank; however, the same cannot be said for municipal deposits, a committee has heard. The Standing Committee on Finance on Wednesday held a briefing on progress made on VBS Mutual Bank, since it was placed under curatorship by the Reserve Bank in […]

Fin24.com | SARB wants probe on VBS bank to see if regulators were ‘asleep on the job‘

Cape Town – The South African Reserve Bank (SARB) governor intends to appoint a commission to determine what went wrong at VBS Mutual Bank, a committee heard on Wednesday. The standing committee on finance was briefed by regulators on the progress made since . SARB placed VBS in curatorship in March when it was found to be facing a liquidity […]