Steinhoff extends deadline for debt standstill deal, and shares plunge

The deadline to secure 75% of the creditors to agree to a so-called lock-up agreement had initially been set for Monday

By the end of August, Star will know what BVI incentive plan will cost it

Star will find out to what extent it is liable for a deal that allowed 44 Pepkor managers to take out loans to invest in the business, which were guaranteed by ...

US tax credit for electric vehicles slowly slipping away for Tesla buyers

The $7,500 US federal tax credit for electric vehicles starts phasing out after December 31

Steinhoff’s share price climbs above R3 on debt restructuring news

The embattled retailer’s share price has cheered news it is seeking support from lenders for the next three years, but analysts warn that further details ...

Steinhoff rushes for room to breathe

Creditors get days to okay lock-up deal that would ease liquidation threat

UK pub operator JD Wetherspoon gets a welcome World Cup boost

Wetherspoon, like its rivals, is reeling under cost pressure from wage inflation, rising rentals and the weaker pound

Turnaround lifts sales at British luxury brand Burberry

Burberry declines to change its earnings guidance as its new designer helps energise the group

Steinhoff shares rise as much as 39% on debt restructure negotiations

The retailer has launched a consent process for a lock-up agreement relating to debt restructuring for Steinhoff Europe and Steinhoff Finance

Ailing Gold Brands to sell Black Steer asset

The move marks a significant departure from recent plans to expand the Black Steer brand globally, along with its flagship Chesanyama franchise

Woolworths recalls frozen rice as a precaution

Potentially tainted sweetcorn sourced from a factory in Hungary, which has been implicated in a listeria outbreak in Europe, results in the move by the retailer

Nigeria’s biggest group of unions pickets MTN Lagos office

Africa’s largest wireless carrier denies it reneged on a deal to allow a neutral group from the Nigeria Labour Congress to survey its staff

Woolworths to partner with Unicef to improve nutrition for 50,000 children

The initiative aims to improve the capacity of about 100 volunteer food handlers to prepare balanced school meals for children in safe and hygienic conditions

Steinhoff’s shady forestry deals come to light

A company linked to Steinhoff executives bought forestry plantations, and later sold them to Steinhoff at inflated prices

Edcon pursues higher-margin local products

The group has largely reversed an earlier decision to bring multinational brands to SA

Dutch shareholder group VEB wants heads to roll at Steinhoff

Dutch shareholder association wants answers on reduction in asset value and number of executive departures

Starbucks’ Howard Schultz hints a tie-up with Alibaba could sweeten prospects in China

China’s burgeoning cafe culture is driving rapid growth that will benefit the coffee chain

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Published by Tiso Blackstar and distributed with the Financial Mail on the last Thursday of every month except December and January.