New Woolworths boss orders an 'organisational reset'
Three weeks into the job, group chief executive Sam Ngumeni is reshaping Woolworths' structures and senior team to strip out duplication and revive growth.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
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FirstRand to take R18bn UK hit as it plots its exit from Britain
The banking group says full-year earnings will fall by up to 9% after lifting its UK motor-finance provision to around R18 billion, and will treat its British operations as a discontinued business.
Treasury's crypto crackdown draws fire as comment deadline nears
With public comment on the draft Capital Flow Management Regulations closing on 30 June, economists warn that pulling crypto into exchange controls could backfire.
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Standard Bank holds its nerve as Middle East jitters dent client confidence
Africa's biggest bank by assets says geopolitical tension has made clients more cautious, but it has kept its full-year guidance unchanged.
Sasol's 20% slide has analysts sniffing a bargain
The petrochemical group's shares have tumbled with the oil price after the US-Iran peace deal, but at least one analyst sees a buying opportunity.
Discovery bets its future on becoming a 'super bank'
Six years after launching its bank, Discovery says the platform has become the operating system for its entire business, and it wants to redefine what a bank is.
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Kganyago warns that inflation expectations are drifting from target
The Reserve Bank governor says price-setters across the economy now expect higher inflation, strengthening the case for another rate increase later this year.
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Business pushes back as Reserve Bank's rate hike comes under fire
Sacci says the Reserve Bank's surprise May rate hike to 7% can 'barely be justified' given a limping economy — but economists insist the bank was right to move.
New 'two-strike' pay rules put company boards on notice
Long-awaited remuneration provisions of the Companies Amendment Act are now in force, handing shareholders a binding vote on executive pay.
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South Africa's banks turn their firepower on the mid-market
With big-corporate and retail margins under pressure, Nedbank, Investec, FNB and Standard Bank are chasing medium-sized firms in a market worth an estimated R150 billion.
A cooler US inflation print throws SA bonds a lifeline
Softer-than-expected American core inflation has eased pressure on the rand and government bonds — but local oil and currency risks keep the relief firmly in check.
Reserve Bank rolls out new R2 and R5 coins for Youth Day
The SARB has gazetted commemorative R2 and R5 coins celebrating 1976, Charlotte Maxeke and 30 years of the Constitution, with legal-tender status from 16 June.