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08:46 #EntrepreneurCorner: Taking advantage of festive season buzz

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  • ALERT: Gauteng, Western Cape and KZN tops list for card fraud

    19 November 2017 5:30 PM 26

    Cape Town - Gauteng, the Western Cape and KwaZulu-Natal are the hot spots for card fraud in South Africa, according to a report on global fraud activity. It found that 33% of South Africans have been victims of card fraud, a 3% increase from 2014 to 2016. The bulk (85.9%) of South African card fraud takes place in the metropoles of Gauteng, the Western

  • #EntrepreneurCorner: Taking advantage of festive season buzz

    16 November 2017 8:46 AM 38

    Cape Town - Business coach Anton Ressel says it's important for small businesses to plan for the upcoming festive season which could either bring in an unexpected flood of cash or a downturn, depending on the type of business you run. "There's a great deal of opportunity for many well-positioned businesses to make a lot of money in a short space of time, with sectors

  • Retail sales robust, but credit downgrade could slow down momentum

    16 November 2017 6:23 AM 30

    Johannesburg - Retail sales growth remained robust in September, but an analyst has warned that a credit downgrade could “derail” the momentum of the sector. According to data released by Statistics South Africa (Stats SA) on Wednesday, the annual growth rate was 5.4% in September, but the month-on-month change from August was down 0.7%. He added that tax increases

  • Small independent watch shops are doomed – Richemont CFO

    12 November 2017 5:15 PM 36

    Johannesburg - The clock is ticking for small independent watch stores, according to Richemont [JSE: CFR], the Swiss maker of Cartier and Vacheron Constantin timepieces. “The traditional wholesale trade, especially in watches, will disappear,” Richemont Chief Financial Officer Burkhart Grund said Friday on a call with analysts. “It’s a tough place out there

  • Now Guptas accuse regulator of urging banks to shut their accounts

    09 November 2017 3:56 PM 39

    Johannesburg - A group of companies linked to the politically connected Gupta family have said the country’s banking regulator encouraged lenders to shut their accounts, broadening a battle to retain the last of their banking services. The 20 businesses, which are suing Bank of Baroda’s local unit to keep their accounts open, have now included Reserve

  • Ethics wane as audit executives feel loss of independence

    04 November 2017 5:00 AM 48

    This is one of the findings of the fifth annual 2017 corporate governance index by the Institute of Internal Auditors of South Africa (IIA SA) released on Wednesday. The survey reflects the views of 281 chief audit executives on the state of corporate governance in South Africa. Only 53% of chief audit executives in both public and private sectors said that ethics

  • Accounting body launches probe into KPMG employees

    03 November 2017 1:53 PM 45

    Johannesburg - An independent inquiry into employees of KPMG implicated in the #GuptaLeaks, has been commissioned by the South African Institute of Chartered Accountants (Saica). According to a statement issued by the accountancy body on Friday, the investigation comes after it received claims that some of its members employed by KPMG allegedly contravened

  • LIVE #StateCapture: 'Let me ask the boss'

    03 November 2017 8:13 AM 36

    Goodson said she was recruited to Trillian by Clive Angel, who was from Integrated Capital Management. Often Angel would allegedly tell Goodson when asked a question, “let me ask the boss”, which she said was a reference to Essa. Goodson alleges she was recruited by Angel, the executive director of Integrated Capital Management and a chartered accountant

  • Rand gains more than 1.5% against pound as BoE hikes rates

    02 November 2017 1:58 PM 20

    The BoE was in a tough situation, given that inflation was running above the 2% target and growth was likely to slow in the coming quarters, said FXTM analyst Hussein Sayed. He said it seemed as if expectations of the hike had been priced in by the market for some time. At 3pm, the rand was at R13.9711 to the dollar from R14.064, at R16.2764 to the euro from R16.339, and at R18.3163 to the pound

  • Truworths sales drop reflects tough market challenges

    02 November 2017 1:45 PM 25

    indicated a sales drop as a result of the challenging trading environment. Sales for the first 17 weeks of the 2018 financial period, between July 3 and October 29, fell by 3% to R5.5bn, compared to the same period last year when sales came to R5.7bn. Account and cash sales, which each constitute 50% of total sales, both decreased 3% compared to the previous