Brent crude futures fell 23c and West Texas Intermediate crude futures declined 28c as US crude stocks rose by 2.2-million barrels
Chris and Suzaan Alheit have been making some of the Cape’s finest whites for the past ten years, the latest vintage being no exception
MEC for economic development, tourism and environmental affairs Ravi Pillay resigned as a member of the KZN legislature and as a member of the executive committee
Group net inflows fell almost a third to £1.4bn to end-June, but assets under management fell 12%, hit by market volatility due to war in Europe
Pressure builds on government to step in after citrus and wool exports have been hit by phytosanitary restrictions
In the wake of SAA’s near-demise Comair’s market share crept up to 35%-40% by the time it too collapsed
The reshuffle comes weeks after premier Shinzo Abe was gunned down by a man angered over the Unification Church’s alleged financial exploitation of his mother
Failure to win on Saturday would put coach Ian Foster and captain under pressure in terms of their future with the team
Capitec Bank is the latest target of Viceroy Research – the team that produced an explosive report detailing how Steinhoff cooked its books to hide losses and inflate earnings.
In a report released on Tuesday morning, Viceroy describes Capitec as a “loan shark with massively understated defaults masquerading as a community finance provider”.
“We believe that the South African Reserve Bank and minister of finance should immediately place Capitec into curatorship,” it says.
However, the Reserve Bank said that, based on available information, Capitec was solvent, well capitalised and had adequate liquidity. “The bank meets all prudential requirements,” the central bank said in a statement on Tuesday.
Capitec CEO Gerrie Fourie said: “We have taken note of the Viceroy Report on Capitec Bank. We are currently in the process of investigating the report in detail and will respond appropriately.”
At 10.13am Capitec was off 4.5% to R901, rebounding from an earlier 20% fall.
The Capitec stock...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.