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19:02 Guptas' Tegeta, tax shenanigans dominate headlines

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22:01 PHOTO ESSAY: No more TRAs in City's new temporary housing plan

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15:51 Salary payments for Gupta-owned company employees delayed

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19:56 Gordhan seeks legal recourse on KPMG issue

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09:21 [WATCH] Sars threatens legal action against KPMG

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Business

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  • Ghanaian subsidiaries of Tigo, Bharti Airtel cleared for potential merger

    23 September 2017 6:15 PM 15

    ACCRA, Sept 23 (Reuters) - Ghana’s National Communications Authority (NCA) regulator granted conditional approval for a merger between the local operations of Millicom’s Tigo and Bharti Airtel, a notice to employees of the subsidiaries said. The two networks agreed in March to combine their operations based on equal ownership and governance rights. It is the first

  • Salary payments for Gupta-owned company employees delayed

    22 September 2017 3:51 PM 14

    In an email to Optimal Coal workers the mine's general manager Howard Pyoos says salaries will only be paid on Wednesday instead of today.(SABC) Employees working for Gupta-owned companies will receive their salaries late this month after the High Court in Pretoria dismissed the family's urgent court bid to prevent the Bank of Baroda from closing its accounts

  • Starting date for new SAA CEO finally set

    22 September 2017 12:55 PM 16

    Cape Town - Vuyani Jarana will start as new CEO of South African Airways (SAA) on 1 November 2017, the airline announced on Friday afternoon. "The decision follows the conclusion of negotiations with his current employer on his release date,” said SAA Spokesperson Tlali Tlali. It will also enable acting CEO Musa Zwane to return to the maintenance subsidiary

  • Homes less affordable despite slow house price growth

    22 September 2017 8:13 AM 21

    Cape Town - There has been a slight deterioration in residential affordability in the first two quarters of 2017, despite relatively slow average house price growth, the quarterly FNB Housing affordability ratios show. Household sector disposable incomes are battling to outpace even modest house price growth, according to John Loos, household and property

  • Steinhoff confident of victory in Dutch court case over accounting fraud claims

    22 September 2017 7:14 AM 19

    Steinhoff International said on Friday it had presented its argument to the Dutch court and was confident of a victory in a dispute with its former joint venture partner regarding accounting fraud allegations. The retail group said the verdict of the petition, brought by OM Handels and MW Handels, was expected in the next two months. Steinhoff’s shares

  • Eskom should take legal action against McKinsey & Trillian

    22 September 2017 7:13 AM 19

    CAPE TOWN - New reports are coming in that Public Enterprises Minister, Lynne Brown has ordered Eskom to begin legal action against companies over their involvement in disputed contracts at the country’s state-owned electricity company. This follows global consultancy firm, McKinsey and Trillian's alleged underhanded dealings with the Gupta's, according

  • Lamprell's revenue falls 65 pct, cuts FY forecast

    22 September 2017 6:57 AM 18

    Sept 22 (Reuters) - Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year and cut its full-year forecast, hurt by lower activity levels across the industry. The company said it expected revenue for 2017 to be in the range of $370 million to $390 million, as it saw continuing low levels of walk-in work. Lamprell

  • Trustees of Gupta mines’ rehabilitation funds accused of letting the family use the money

    22 September 2017 5:54 AM 16

    The trustees of a Gupta-linked mining rehabilitation fund have been accused of deliberately and unlawfully allowing the controversial family to use the trust to pay back loans. That is the argument of the Organisation Undoing Tax Abuse (Outa)‚ which on Thursday filed an affidavit in an urgent court application to have the accounts‚ in which the funds

  • Guptas will still be able to pay staff and suppliers if Baroda closes its accounts

    21 September 2017 2:08 PM 15

    The Gupta family will still be able to pay its workers and suppliers even if the Bank of Baroda closes its accounts at the end of September. Twenty companies owned by, or linked to, the Gupta family brought an urgent application in July to halt the Bank of Baroda‚ the last remaining bank open to the Guptas‚ from closing all their accounts on September

  • Court delivers major blow to Gupta companies

    21 September 2017 8:34 AM 22

    JOHANNESBURG - The fate of the more than 15 Gupta owned companies is in the balance after the companies lost their interdict application to stop the Bank of Baroda from closing their accounts at the end of the month. The North Gauteng High Court ruling served as a blow to the embattled Oakbay and its group of companies as the Bank of Baroda was the last bank to accommodate