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  • PICS: Top-20 most exclusive residential property markets in the world

    16 December 2018 6:08 AM 87

    Monaco can be seen as the most exclusive prime residential property market in the world, according to new research by location analytics specialists Webster Pacific and market research firm New World Wealth. According to the report it residential real estate goes for about $49 000/m² (about R677 670/m²). For the purpose of the report figures were rounded

  • Moyane 'seized control of SARS as if it was his to have'

    15 December 2018 12:03 PM 76

    Governance at the South African Revenue Service (SARS) was “dismantled” under axed Commissioner Tom Moyane, the Nugent Commission of Inquiry has found. Senior managers were driven out or marginalised and those appointed by Moyane to replace them were compliant to his demands, according to the Commission's final report into SARS, which was handed over to President

  • Pilots: State can save SAA yet

    14 December 2018 5:55 PM 91

    reported that six senior pilots at SAA had tendered their resignations to the utility at around the same time. The carrier has also opted to rent out its pilots and crew staff to other carriers as a cost-cutting mechanism. were supportive of the efforts of the CEO, his new team and the competent and committed managers in various departments at SAA aiming

  • Sibanye offers cash advance to workers hit by 'no work, no pay'

    14 December 2018 4:59 PM 76

    Sibanye-Stillwater [JSE:SGL] will be extending a special cash advance of up to 50% of basic pay to employees in its bargaining unit that require it, the company said in a statement. The company said it was offering this to mitigate the negative financial impact of the strike on its employees ahead of the Christmas holidays and the beginning of the school

  • Future generations 'will have to work into their 80s to save for retirement'

    14 December 2018 10:47 AM 146

    A challenge for the financial planning industry is how to factor in ever-increasing life expectancies when it comes to retirement savings goals, according to Jacques Brown, a wealth manager at Private Client Holdings. "People will have to work for longer to save for a longer retirement. The 70s are the new 60s. I would imagine then that future generations

  • Eskom said to mull asset sales as billionaire Motsepe circles

    13 December 2018 3:28 PM 79

    Eskom is considering the sale of smaller assets as the state-owned power utility weighs solutions to a liquidity crisis that contributed to a wave of rolling blackouts, according to people familiar with the matter. The supplier of almost all South Africa’s power is in advanced talks to sell its home-loans business, with local billionaire Patrice Motsepe’s

  • UK parliament won't vote on Brexit deal until new year

    13 December 2018 2:36 PM 142

    Lawmakers in the UK Parliament aren’t scheduled to vote on Prime Minister Theresa May’s Brexit deal this year, Leader of the House of Commons Andrea Leadsom said on Thursday. Outlining business for the coming week, Leadsom didn’t include the so-called "meaningful vote" on the agreement, which May is seeking to augment at a summit of EU leaders in Brussels

  • The vote to oust May: A guide to how it works and what comes next

    12 December 2018 3:00 PM 144

    UK Prime Minister Theresa May faces a confidence vote in her leadership on Wednesday night amid growing opposition to her Brexit deal. Conservative members of Parliament will vote from 18:00 to 20:00 on whether they have confidence in her as leader. The outcome, followed by the breakdown of the numbers, will be announced by 21:00 London time. If May is defeated

  • October retail sales accelerate to 2.2%

    12 December 2018 11:35 AM 75

    Retail sales picked up in October, reflecting year-on-year growth of 2.2%, according to data from Statistics South Africa (Stats SA). Analysts had expected the uptick, with NKC Economics anticipating sales would come in at 2.5%. The figures were still higher than the annual 0.6% growth recorded in September. The main contributors to growth came from "other

  • Markets LIVE: Stocks rise on renewed trade hopes, pound climbs

    12 December 2018 10:24 AM 87

    OVERVIEW: Stocks rallied globally as the outlook for US-China trade took a positive turn. The pound strengthened as the British prime minister vowed to fight a challenge to her leadership. US equity futures and European shares climbed following big gains in Asia after Canada granted bail to the chief financial officer of China’s Huawei and President