Steinhoff pays another R1.3bn in advisory fees

Once again the embattled global retailer has reminded shareholders of its precarious going-concern statusEmbattled global retailer Steinhoff International forked out another R1.

3bn in advisory fees as it continued to repair the damage caused by a massive accounting fraud that unfolded in December 2017.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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Embattled Steinhoff reports major lossesJOHANNESBURG — South African retailer Steinhoff reported a $401 million (R5.6-billion) half-year loss from continuing operations on Friday, as the damage from a massive accounting scandal drags on. Steinhoff first flagged holes in its accounts in December 2017 — the warning shot for an accounting fraud since put at over $7 billion — shocking investors that had backed its transformation from a small South African outfit to a discount furniture retailer spanning four continents. Meanwhile all the economic mafias on the Steinhoff board havent been arrested or charged.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Holding hands with whites, ANC during Fees Must Fall a mistake – MalemaEFF members should not have protested alongside 'children of the oppressors or 'people in ANC t-shirts', Malema said. Wena always doing things with someone when things are not going your way it's a mistake can you stop hating whites please Time to stop the racial division Julius. Black and white are ALL South Africans and the country belongs to ALL who live in it. Everyone is in it together, if the country does well then everyone does well, if the country falls then everyone falls. It’s time to work together
Source: TheCitizen_News - 🏆 6. / 75 Read more »

NHI: Doctors will treat everyone‚ regardless of their ability to payDoctors‚ nurses‚ dentists and hospitals will treat everyone when National Health Insurance (NHI) is rolled out‚ selecting them on the basis of how sick they are‚ rather than on their ability to pay‚ says health minister Dr Zweli Mkhize. This is good news our health is a priority. DrMkhize4 Tshi_Nakanyane DrXiga Tlouu_Kganyago CTshekela bandilemasuku DrMusaMthombeni aphilecomms magembi MJusteezy sindivanzyl 🧐your thoughts? Please give me a valid reason why, then, I still should pay for medical aid (R6000.00 per month, 2 people/pensioner household)
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Parliament to pay R76m to MPs who didn't make comebackActing chief financial officer Joe Nkuna, told a meeting that was discussing parliament’s finances that the legislature had so far forked out R76m of taxpayers' money to top up the retirement packages of exiting MPs. EFF throwing bottles at cars in Bloemfontein The case for a tax boycott just keeps looking better. Add PG on the list, his joining them
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