BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
The Journal: What happens when an economic superpower is locked down?
The coronavirus has forced China, the world's second -biggest economy, into lockdown. The Wall Street Journal's Yoko Kubota explains how that has disrupted business around the world, including companies like Disney and Apple.
US warning on EWC; Keen response on emergency power; Mining royalties; Burger King; Inflation
In today's business headlines: -- The US has weighed in on the land expropriation debate again with Secretary of State, Mike Pompeo saying that the South African government’s plans would be disastrous for the economy; - South Africa’s inflation rate rose to a seven-month high in January driven by higher…
P&L: Markets expect mid year coronavirus snapback plus the $1.5trn active-management investing giant
Phil Orlando, chief equity market strategist and head of client portfolio management at Federated Investors on why markets seem so complacent about the coronavirus. And Annie Massa, Bloomberg investigative reporter on Franklin Templeton buying Legg Mason to create a $1.5trn active-management investing giant. Hosted by Paul Sweeney and Lisa Abramowicz.
SAA and other SOEs putting the country on trial – Gidon Novick
Former co-Chief Executive Officer of Comair, Gidon Novick brought the low cost airline business to South Africa. But he grounded himself in 2011, headed Vitality for three years and became an entrepreneur in the tourism sector, that he believes still has immense untapped potential. In an interview with Alec Hogg,…
Disgruntled ex-Sanlammer’s claim of unfair treatment prompted extensive denial by financial services group
Biznews has covered the story of financial advisor David Melville who found himself on the wrong side of Sanlam bureaucracy. The life insurer was also in the spotlight for a practice of backdating new life policies - even though it wouldn’t pay out for a death if that occurred before the…
Meet John Dempster: The SA solo rower who crossed Atlantic Ocean in 63 days
It is the stuff of legends; those feats that separate some people from the rest of us. They are the humans who appear to be fearless and scale the highest mountains, cross oceans or tackle what seems to be the impossible. 26-year-old John Dempster, a student from the University of…
Rand hit by Moody's; SpaceX tourist ploy; Musk-Gates electric spat; Glencore; Ecsponent
In today's business headlines: * South Africa’s rising country risk is putting upward pressure on interest rates, even as inflation expectations decline, with credit-rating companies contributing to the negative sentiment, according to the central bank, says Bloomberg. The rand fell through R15 to the dollar as the news was absorbed;…
What's News: Apple's coronavirus warning and Boy Scouts of America file for bankruptcy
Apple warns it will miss quarterly revenue forecasts due to the coronavirus outbreak. The Wall Street Journal's Tripp Mickle. reports. Plus, facing hundreds of pending lawsuits alleging sexual misconduct, the Boy Scouts of America file for Chapter 11 bankruptcy. More from the WSJ's Andrew Scurria. Charlie Turner hosts.
Magnus Heystek, Alec Hogg unpick "too good to be true" Ecsponent pref shares
Ecsponent is a company that is listed on the Johannesburg stock exchange, which helped to give it the veneer of credibility. Ecsponent's board also included an impressive line-up of business movers-and-shakers, not least of all Richard Connellan whose experience includes serving as the Executive Director of the Takeover Regulations Panel…
Michael Faber: Welcome SONA for electricity suppliers - including Bright Light Solar
In this special podcast, Bright Light Solar director Michael Faber discusses the most important electricity-related aspects of last week's State of the Nation Address. With the 12J company's Prospectus closing next week (25th Feb) potential investors need clarity on whether the opening up of the market would help or hinder…
Pakistan in cross-hairs of Zuma state capture; Vodafone Africa money spinner; Discovery; Amplats; Zim
In today's business headlines: * Pakistan could be put on an international black list for moneylaundering, with evidence that one of its banks took on as a client Duduzane Zuma - the former president's son who worked for the Gupta brothers; * The UK's Vodafone has identified a $2 money…
Uncomplacent Corrigan: EWC could cost you your house - but not its mortgage bond
South Africa's Institute of Race Relations, the country's oldest think tank, will celebrate a century of existence in 2029. Based on classically liberal lines, speaking truth to power and challenging perceived wisdom comes with the territory - as does weathering populist storms initiated by political actors. But criticism has never…
David Shapiro: Ninety One's awful timing - asset management horse has bolted
In the latest episode of Rational Radio, SA's favourite market commentator David Shapiro wonders whether the horse has bolted from the Investec Asset Management stable - questioning the poor timing of the renamed Ninety One's split from its mother ship. He is also unconvinced that SA's listed property stocks offer…
Rational Radio 17 Feb: Shapiro on Ninety One; Novick on SAA; Corrigan on EWC and more
In this week's episode of Rational Radio: * David Shapiro on Ninety One, the asset management spinoff from Investec; SA's property sector, Cannabis stocks, and the Ecsponent disaster; * Gidon Novick, the former Comair CEO, provides a perspective on the chaos and uncertainty around SAA - and whether it can…
What's News: Amazon gets a win as judge blocks Pentagon cloud contract award to Microsoft; plus more on Tesla
In a win for Amazon, a federal judge issued a preliminary injunction blocking the Pentagon's cloud contract award to Microsoft. The Wall Street Journal's John McKinnon discusses. Plus the Wall Street Journal's Charley Grant talks about Tesla's planned $2bn stock sale. Charlie Turner hosts.
OM/Moyo feud re-ignites; SAA stop-sell lifted; Duduzane muddies Pakistan’s waters
In today's business headlines: - The Battle between Old Mutual and its sacked Chief Executive Officer Peter Moyo is not over yet after Moyo filed an urgent court application for an appeal which suspends the company's recruitment drive for a new CEO; - South African Airways received a boost as…
What other countries can teach SA about handling a debt crisis
It’s no secret that South Africa is facing a potential economic crisis. Debt has been rising unsustainably and economic growth is too low to keep up with our debt obligations. This means that the prospect of an IMF bailout is becoming ever-more likely. While South Africans are – rightly –…
P&L: Arming the rebels of Amazon: Shopify COO plus Tesla's $2bn stock offering
Harley Finkelstein, chief operating officer at Shopify, discusses the group's earnings and outlook. Listed on the New York Stock Exchange, the Shopify share price has jumped over 200% in the past year. Plus Kevin Tynan, senior autos analyst for Bloomberg Intelligence, on Tesla's latest $2bn stock offering with Paul Sweeney…
The Journal: Nike's Vaporfly shoe is 'magic.' But is it fair?
Runners wearing versions of Nike's Vaporfly show have smashed marathon records, leading to questions about whether the shoe offers an unfair advantage. The Wall Street Journal's Rachel Bachman explains the controversy.
SONA2020: CR 'fixing fundamentals'; Eskom golden handshakes; SAA, Gold, Tesla
In today's business headlines: - President Cyril Ramaphosa has acknowledged that the economy is in a crisis and says 2020 is the year to fix fundamentals; - South African gold output surged the most in four years in December, providing an unexpected boost for the country’s mining production; - Eskom…