Rational Radio

Flash Briefing: Fossil jaw found in Tibet; Cyril's clean up claims 2 more; Tesla raise sparks shares

The best-read story on The Wall Street Journal sets out new clues on human evolution. A fossil jaw found in the Himalayan Highlands of Tibet has got scientists excited. South African President Cyril Ramaphosa’s anti-corruption drive has claimed another two scalps - National Laboratory Service Chief Executive Officer Joyce Mogale and…

2 May 2019 3 min

Flash Briefing: Caster loses legal battle; Malema wants your business; Apple drives Wall Street

South African Olympic champion Caster Semenya has lost a legal battle against rules to force her to take medicine to compete internationally. Julius Malema, leader of the Economic Freedom Fighters party has called for workers to be given shares in all strategic sectors within the economy, including the financial sector…

1 May 2019 2 min

Flash Briefing: JSE food producers perk up, mining stocks take a hit; Boeing drifts on safety deactivation

RCL and Pioneer Foods were among biggest gainers on the JSE on Monday. Mining stocks took a knock with Amplats dropping by nearly 6% with Implats not far behind. Mining analysts are concerned that a move by the government to deregister trade union AMCU could create chaos in the mining…

29 Apr 2019 2 min

Flash Briefing: SARS eyes Bosasa beneficiaries; AMCU fights back; Boeing turned safety features off; expats vote

ANC-leaders facing tax claims of income earned from Bosasa. This comes after the firing of two senior prosecutors implicated in bribes. AMCU is meeting the Labour Minister to discuss the government's threat to deregister the group. It has come to light that certain safety features on Boeing 737 Max jets…

28 Apr 2019 3 min

The Editor’s Desk: SA is finally cleaning up its NPA mess

After years of waiting, South Africa is finally seeing real action on the corruption clean-up front, starting with big news out of the NPA. Two top dogs at the National Prosecuting Authority have been given their walking papers after they were found unfit for office. Cleaning up the NPA is…

28 Apr 2019 16 min

Tshepo Mahloele: The great paradox of the PIC Commission

In June last year, feisty politician Bantu Holomisa launched a raft of sensational allegations against a trio of leading businessmen which were immediately lapped up by the media. As a result, Holomisa finds himself on the wrong end of a libel suit. But the UDM political party president’s colourful language…

27 Apr 2019 15 min

Flash Briefing: GEPF 'financially' sound; PP 'helping' Gordhan; AMCU on watch; Zuckerberg fortune rises

In today's business headlines:  The head of the Government Employees Pension Fund says the fund is financially sound and there is no need for an increase in contributions by employers. Public protector Busisiwe Mkhwebane says she is investigating Public Enterprises Minister Pravin Gordham to help him. The labour department is…

25 Apr 2019 3 min

Flash Briefing: Bidding war for Moz gas giant; PSG at 20% discount; Rand falls sharply; Life Healthcare slumps

Energy group Anadarko Petroleum, which owns huge tracts of gas reserves in Mozambique, has become the subject of a massive bidding war. The Jannie Mouton created investment company PSG announced solid financial results for the year to end February, disclosing recurring earnings per share up 9% and a 10% increase…

24 Apr 2019 4 min

Flash Briefing: US shares new high; Eskom OK - Gordhan; Son loses $130m on Bitcoin; Omnia rebounds

America’s S&P 500 and Nasdaq Composite indexes reached new all-time highs yesterday. South Africa’s state-owned power utility Eskom “isn’t on the brink of financial collapse” and the government has the problem “well under control,” according to Public Enterprises Minister Pravin Gordhan. The founder of Japan’s massive new-age focused venture capital…

23 Apr 2019 4 min

Flash Briefing: Tributes for Buzan; ZACP wants to gift SOEs; 3G ejects Kraft boss; US blocks Iranian oil

The United States yesterday ratcheted up its fight against Iran.  Tributes continue pouring in for the 76 year old inventor of mind mapping, Tony Buzan, who passed away earlier this month after heart attack. The Capitalist Party of South Africa, ZACP, last night tabled a plan to hand over direct…

22 Apr 2019 4 min

Flash Briefing: Eskom sheds growth forecast; Sibanye strike over; 5G Apple; Juventus, NPN, TKG, CPI

In today's business headlines: The South African Reserve Bank says the damage done by state capture is worse than previously understood. South Africa’s Association of Mineworkers and Construction Union has agreed to end a five-month strike at Sibanye's gold mines. Apple could have a 5G iPhone ready to bring to…

17 Apr 2019 3 min

Flash Briefing: SARB independence "insurance"; Markets will "melt-up"; EOH, MTN, TKG, DSY, INT

In Washington yesterday, South African Reserve Bank governor Lesetja Kganyago re-iterated the argument for an independent central bank, describing it as a shield against bad political leadership. The chief executive of the world’s biggest asset manager predicts global stock markets are poised for what he calls a “melt-up” as signs…

16 Apr 2019 4 min

Flash Briefing; Sudan, Algeria celebrate end of dictators; Aspen, Investec, Absa gain; SpaceX seeks $500m; Goldman profits reverse.

Last week’s ousting of Sudan’s supposed president for life, 75 year old Omar al-Bashir, is ushering in a raft of new democratic freedoms. Despite the controversy that surrounds his erratic actions at electric car maker Tesla, South African born and raised entrepreneur Elon Musk still possesses plenty of money pulling…

15 Apr 2019 4 min

The Joburg hedge fund manager behind English soccer's latest fairlytale

Retired hedge fund manager Clive Nates is not your average celebrity. But in the soccer-mad English city of Lincoln there's nobody more loved right now than the introverted hedge fund manager from Johannesburg. Nates, formerly of Peregrine Capital, became involved with the Lincoln City football club three years ago. That…

15 Apr 2019 31 min

Flash Briefing: Jet Airways faces bankruptcy; Mzi owes millions; EOH heps plunge; Shoprite shines

* Indian-owned Jet Airways, a discount airline which flies 600 domestic and 380 international routes, cancelled all flights over the weekend stranding thousands of passengers.  Controversial South African entrepreneur Mzi Khumalo’s gold mining company Metallon has halted production at three of its four Zimbabwean mines because of debt that exceeds…

14 Apr 2019 3 min

The Editor’s Desk: Chris Steyn, Brexit & the tale of Lincoln City

DUBLIN – Lost Boys of Bird Island co-author Chris Steyn has been under fire since publishing her explosive book. This week, Steyn was driven to take a polygraph test to defend herself from accusations that she fabricated the story. The furor is reminiscent of the anger surrounding Pieter-Louis Myburgh's Gangster State –…

14 Apr 2019 24 min

Flash Briefing: Public Protector goes after Gordhan; Americans want Assange; Britain in limbo; SA fintech gets thumbs-up; South Africans help film bla..

In today's business headlines:   Finance Minister Pravin Gordhan has been subpoenaed by the Public Protector to submit an affidavit related to the so-called SARS rogue unit. Wikileaks founder, Julian Assange is facing extradition to the United States after he was evicted from the Ecuadorian embassy in London. Global Economist…

11 Apr 2019 3 min

Flash Briefing: Sibanye shares tank; JSE wants Ayo audited; Bibi wins in Israel; Mr Price, Banks; Platinums.

South African gold and platinum producer Sibanye has announced that it had raised R1.8bn ($130m) in cash through selling the equivalent of 5% of its equity at R16.50 a share. The Johannesburg Stock Exchange has urgently requested that the external auditors of Ayo Technology Solutions investigate the company’s reported financials…

10 Apr 2019 4 min

Flash Briefing: IMF drops SA growth rate; Debenhams; S&P; Richemont; Brimstone; SA retailers

The International Monetary Fund yesterday cut its forecast for South Africa’s economic growth in 2019 to a pedestrian 1.2% and a modest 1.5% in 2020, both down 0.2% from projections made six months ago. Debenhams, the 241 year old British retailer whose initial boost came from dominating the sale of…

9 Apr 2019 4 min

Flash Briefing: CIO claims Ayo "manufactured" financials; Gold, Plat shares surge; Strong Pick n Pay results; Tuna Bond scandal.

The former Chief Investment Officer of JSE-listed Ayo Technology Solutions yesterday told the commission of inquiry into the PIC that the company manufactured financial statements to secure a R4.3bn investment from South Africa’s State pensioners. The $2bn Tuna Bond scandal which involves state officials and Credit Suisse bankers, took an…

8 Apr 2019 3 min