JD Group to sell off finance unit in R4.6bn deal
19/12/2014 - 09:20
JD Group will sell its loss-making consumer-finance business to a BNP Paribas unit for R4.6 billion in cash, allowing it to focus on furniture sales. Steinhoff International Holdings, which owns 86 percent of JD Group, had “irrevocably undertaken” to vote in favour of the deal, the Johannesburg-based company said in a statement.
SA escapes credit rating downgrade
19/12/2014 - 09:09
Ratings agency Fitch on Friday affirmed SA’s long-term foreign and local currency ratings at BBB and BBB+ respectively, and kept the outlook negative.
Big petrol price drop expected
18/12/2014 - 10:03
International oil prices have dropped steeply and motorists are set for a fuel bonanza in the new year, the Automobile Association said on Wednesday.
Financial sector ‘sound but vulnerable’
18/12/2014 - 09:53
SA needs a more competitive financial sector with a number of new, smaller banks entering the market to help lower costs, particularly for small businesses and poorer households, according to the International Monetary Fund (IMF).
Another Eskom load shedding warning
17/12/2014 - 11:25
Power utility, Eskom has warned of further load shedding after it lost four power-generating units on Tuesday (16 December).