Old Mutual earnings fall as weak SA economy, sliding asset prices bite
By Vernon Wessels (Bloomberg) – Old Mutual Ltd. said full-year adjusted earnings fell as a weak South African economy and sliding asset prices weighed on business and caused the insurer to miss its...
View ArticleSA’s financial community mourns one of its all time greats
South Africa’s financial community is mourning one of their best known personalities in Jack Mitchell, former head of investments at Old Mutual and Allan Gray. He succumbed to leukaemia on Sunday...
View ArticleOld Mutual shares slide on news CEO Peter Moyo suspended
By Ana Monteiro (Bloomberg) – Old Mutual Ltd. shares fell the most on record after it suspended Chief Executive Officer Peter Moyo following a “material breakdown in trust and confidence” between him...
View ArticleNMT Capital ‘conflict of interest’ reason Peter Moyo suspended as Old Mutual CEO
By Roxanne Henderson and Loni Prinsloo (Bloomberg) – Old Mutual Ltd. suspended Chief Executive Officer Peter Moyo over a conflict of interest involving his investment firm NMT Capital. The insurer’s...
View ArticleFlash Briefing: CEO-firing stocks plunge; Boris in big lead; Carbon Tax now...
By Alec Hogg Here’s your Biznews Flash Briefing: Former UK foreign secretary and London mayor Boris Johnson has emerged as the strong frontrunner to succeed British Prime Minister Theresa May, who...
View ArticleFlash Briefing: Mabuza phobia knocks rand; Moyo fiasco shakes Old Mutual;...
By Jackie Cameron In today’s Biznews Flash Briefing: The rand fell on speculation that graft-tainted David Mabuza could be re-appointed as deputy president. Bloomberg reports that a spokesperson for...
View ArticleOld Mutual to fire CEO Peter Moyo for breaching dividend payment rules
By Vernon Wessels and Roxanne Henderson (Bloomberg) – Old Mutual Ltd. plans to fire Chief Executive Officer Peter Moyo after suspending him due to a conflict of interest. The board gave Moyo a “notice...
View ArticleFlash Briefing: Trillian’s R600m state capture hit; Ramaphosa to rescue...
By Jackie Cameron In today’s Biznews Flash Briefing: The Old Mutual share price jumped on news that its board has decided to fire its CEO Peter Moyo. The insurer suspended Moyo last month to...
View ArticleMoyo dishes dirt on Manuel; Trade war talk boosts rand; Eskom coal plants...
By Jackie Cameron The battle between Old Mutual’s sacked CEO Peter Moyo and the life assurer’s chairman, Trevor Manuel, has intensified, with Moyo claiming that he was fired in a tit-for-tat type move...
View ArticleReporting back for duty: Court orders Old Mutual to reinstate Peter Moyo as CEO
By Roxanne Henderson (Bloomberg) – A South African court ordered Old Mutual Ltd. to temporarily reinstate fired Chief Executive Officer Peter Moyo pending a hearing into whether the board allegedly...
View ArticleDavid Shapiro: Why I’m backing Old Mutual in its fight with CEO Moyo
David Shapiro unpacks the public ruckus between financial services giant Old Mutual and its former CEO Peter Moyo. This article is exclusive to Biznews Premium. Members please login here. Not yet...
View ArticleState court brawls go corporate – Old Mutual farce
This inter-personal boardroom battle being slugged out in the courts bears uncanny similarities to that of the Public Protector and Pravin Gordhan/Cyril Ramaphosa, and we see the same collateral damage...
View ArticleStrike two as Old Mutual fires CEO Peter Moyo again; braces for backlash
By Vernon Wessels (Bloomberg) – The door to Peter Moyo’s office at Old Mutual Ltd.’s headquarters in Johannesburg may as well be replaced with a revolving one as his feud with Chairman Trevor Manuel...
View ArticleMboweni master plan to save SA; Eskom R450bn plant sale; strikes hammer...
By Jackie Cameron Tito Mboweni has unveiled an economic rescue plan for South Africa. Late on Tuesday, the National Treasury released a massive policy document aimed at boosting economic growth by...
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Old Mutual, Manuel directors’ delinquency lawsuit: Has Peter Moyo gone too far?
Peter Moyo, 56, is embroiled in a legal battle with Old Mutual, his on again, off again employer. The former CEO of the life assurer was axed in a humiliating blow in connection with his private – and...
View ArticleSteinhoff dumps Deloitte; IDC wants R157m from Moyo; HK protests escalate;...
By Alec Hogg The business ethics of Old Mutual’s former CEO Peter Moyo are back in the spotlight after a dynamite disclosure in yesterday’s Sunday Times Business Times. The newspaper reports that...
View ArticleOld Mutual blocks CEO Peter Moyo from returning to work (again)
By Roxanne Henderson (Bloomberg) – As Peter Moyo hung around Old Mutual Ltd.’s headquarters in Johannesburg getting a coffee, a staffer came up to him, hugged the on-and-off again chief executive...
View ArticleXenophobia crackdown – 600 arrests; Moyo-Manuel battle continues; MTN R5m...
By Jackie Cameron South African authorities are cracking down on the perpetrators of a series of xenophobic attacks that left at least 12 people dead, Police Minister Bheki Cele said. The police have...
View ArticleDavid Shapiro: Praising Naspers, blasting Sasol, Old Mutual, Aspen
South Africa's favourite market commentator, Sasfin Securities deputy chairman David Shapiro, was at his best in this week's episode of Rational Radio. This article is exclusive to Biznews Premium....
View ArticleYou think Old Mutual boss Peter Moyo has had a raw deal? Try Nissan for size!
South Africa is not the only country with laws that discriminate against business players on the basis of race. Consider the chilling tale of how Japanese vehicle manufacturer Nissan pushed out its...
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