Old Mutual suffers major loss; Tesla to sell $5bn of shares; Ecsponent; Eskom
By Claire Badenhorst Cape Town-based insurance company Old Mutual reported a loss of R5.6bn for the past six months. It has also put its interim dividend on hold and warns of drop in full-year...
View ArticleFlash briefing – Government defends ‘New’ SAA bailout; Oil and Sasol plunge;...
By Linda van Tilburg The South African government says it was aiming for South African Airways to fly again in the first half of next year, after it gave the airline a new R10.5 billion bailout in...
View ArticleOld Mutual makeover after breakup with Moyo: More than cosmetic?
Clients and investors watched the tension build for weeks as Old Mutual engaged in a battle to break up with its ex CEO, Peter Moyo, last year. In a story that reads like a soapie script there was mud...
View ArticleFlash Briefing: Traders in emerging markets, currencies ride ebb, flow of US...
By Jackie Cameron Emerging-market stocks rallied and an index of currencies erased its biggest drop since March as traders rode the ebb and flow of a US presidential election that’s has been too close...
View ArticleOld Mutual uncovers hidden investment gems in SA Inc. stocks
Emerging markets have recently been cast in a bad light. Nervous investors are deterred by South Africa’s volatile currency ahead of US elections announcements. There are increasing concerns over the...
View ArticleSA consumers holding up despite Covid-19 cutbacks – Old Mutual
With SA unemployment numbers at a 17-year high, many have had to tighten their purse strings more than ever before. But, Ian Williamson, CEO of Old Mutual says that local consumers have surprising...
View ArticlePassive investing pioneer Steven Nathan resigns as CEO of 10X Investments
10X Investments media statement: After 15 years at the helm, 10X Investments’ founder and CEO Steven Nathan has resigned, effective 31 December 2020, in order to pursue other interests. In line with...
View ArticleAlec Hogg: Steven Nathan’s shock exit from 10X
BizNews founder Alec Hogg shares his rational perspective on top investment analyst Steven Nathan and his shock exit from 10X investments. This article is exclusive to Biznews Premium. Members please...
View ArticleSteven Nathan’s hasty 10x exit: Who believes the Old Mutual spin?
Last week index-tracking pioneer 10X Investments announced the sudden departure of its founder, Steven Nathan. Old Mutual-appointed chairman Henk Beets hastily moved into the CEO’s office with the...
View ArticleAlec Hogg: Magnus Heystek nails Old Mutual
'Having built Brenthurst Wealth into a multi-billion rand firm, nowadays Heystek literally answers to nobody', says Alec Hogg. This article is exclusive to Biznews Premium. Members please login here....
View ArticleAlec Hogg: Secret sauce which makes staff evil
'Their behaviour was shaped by profit-generating ideas. Such perverse incentives are the secret sauce that make employees evil', says Alec Hogg. This article is exclusive to Biznews Premium. Members...
View ArticleFlash Briefing: Summers warns against US inflation; mixed company results;...
Former US Treasury Secretary Lawrence Summers today sounded a warning against inflation. He was speaking to our partners at Bloomberg. AVI says Covid-19 had a mixed impact on its business in the six...
View ArticleOld Mutual plotting course to pay dividends, but keeping eye on Covid-19
By Roxanne Henderson (Bloomberg) – Old Mutual will keep a cautious eye on the path of the Covid-19 pandemic and the roll out of vaccines in its main market of South Africa as the insurer plots a course...
View ArticleFlash Briefing: Insurers pay up for Steinhoff directors; Old Mutual dividend;...
Steinhoff said on Tuesday it has reached an agreement with certain insurance companies underwriting the group’s directors and officers insurance policy to contribute up to €78.1m ($93m) to help settle...
View ArticleNatural gas needed as ‘transition fuel’, says Old Mutual fund
By Antony Sguazzin (Bloomberg) – A key funder of South Africa’s renewable energy drive is backing natural gas as the fuel needed to help the country bridge the transition from coal power generation to...
View Article‘Old Mutual took their eye off the ball’– Steven Nathan
BizNews community member Ingrid Luyt wrote to BizNews founder Alec Hogg this week seeking any information regarding the dismal performance of Old Mutual. Her question was posed to Steven Nathan,...
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Sasol sells 30% stake in Mozambique pipeline for R5.1bn
Sandton-based Sasol has agreed to sell a 30% stake in a pipeline running from Mozambique to South Africa. The pipeline, which carries natural gas, was sold to a group of buyers – including a unit of...
View Article“There’s a large subset of the JSE I’m quite optimistic about”– Piet Viljoen
Well-known as one of South Africa’s best fund managers, Piet Viljoen joined the BizNews Power Hour to discuss what’s caught his eye on the markets. From Sanlam to Old Mutual, editor-at-large Jackie...
View ArticleNedbank’s permanent shift to the work from home model – Kokkie Kooyman talks...
Expert banking analyst Kokkie Kooyman unpacks Nedbank’s decision to permanently employ a semi-flexible, work from home model. Nedbank is the first large South African corporate to come public about the...
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Discovery shares down, as insurer says it will “withhold dividends”
Johannesburg-based Discovery saw its shares fall as much as 9.1% after the insurer said it will “withhold dividends and contribute additional capital for its investment in China’s Ping An Health...
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