Steinhoff gets a stay of execution. Market goes bats**t crazy

The market is crazy! It really is an insane place right now.

Bruce Whitfield

It’s looking increasingly unlikely that there’ll be any smarties left after this party.

Bruce Whitfield

Steinhoff International's share price soared by 50% when the company announced it has received a lifeline from creditors.

The breathing room expires at the end of June.

The Money Show’s Bruce Whitfield interviewed Warren Thompson, a financial journalist at Business Day.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Everyone wants to keep this alive so that they can get as much money out of the company in an orderly fashion…

Warren Thompson, Business Day

They want to realise as much value as they can from the assets they hold… they don’t want to get into a fire-sale…

Warren Thompson, Business Day

This is certainly going to be the Enron of South Africa, by some way.

Warren Thompson, Business Day

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Finding your way after 15 years with Google Maps

Finding your way after 15 years with Google Maps

Google has not only indexed the internet, but they have also mapped the world

Annual consumer price inflation shot up at a rate of 4.5%  - should we worry?

Annual consumer price inflation shot up at a rate of 4.5% - should we worry?

Annual consumer price inflation increased at a faster rate of 4.5% in January, compared to 4% in December.

Read your documents before you sign the deal on your car or house!

Read your documents before you sign the deal on your car or house!

Wendy Knowler, consumer journalist, on the importance of carefully reading your documents when you buy assets.

Meet the Black Management Forum's New President

Meet the Black Management Forum's New President

The newly elected president of the Black Management Forum (BMF) is Andile Nomlala.

Steinhoff Africa Retail on name change to Pepkor (and fight with Tekkie Town)

Steinhoff Africa Retail on name change to Pepkor (and fight with Tekkie Town)

The Money Show’s Bruce Whitfield interviews Jayendra Naidoo, Chairperson at Steinhoff Africa Retail.

Steinhoff paid us with Monopoly money, says ill-sounding Tekkie Town founder

Steinhoff paid us with Monopoly money, says ill-sounding Tekkie Town founder

Markus Jooste was his “friend” and business partner. The Money Show’s Bruce Whitfield interviews Van Huyssteen.

Popular articles
[LISTEN] Facebook group provides support for parents raising teens

[LISTEN] Facebook group provides support for parents raising teens

Azania Mosaka spoke to admin and media consultant of the page Vanessa Raphaely.

Time running out for Rampedi to retract 'paedophile' tweets about Jacques Pauw

Time running out for Rampedi to retract 'paedophile' tweets about Jacques Pauw

Journalist Piet Rampedi's lawyer Eric Mabuza says they will respond in due time but if the deadline lapses 'so be it'.

Cosatu members march to demand reliable, affordable rail transport

Cosatu members march to demand reliable, affordable rail transport

Federation's Western Cape leader Motlatsi Tsubane says they handed over a memorandum to Prasa, Metrorail and other stakeholders.

Dudu Myeni testifies in delinquency case, says her appointment was above board

Dudu Myeni testifies in delinquency case, says her appointment was above board

EWN reporter Edwin Ntshidi gives an update on the SAA board chairperson's case at the Pretoria High Court.

Cindy Poluta's emotional first drive to work without Alfred

Cindy Poluta's emotional first drive to work without Alfred

On her first morning drive to work after hearing the news of her friend Alfred's death, Cindy Poluta shared her memories.

Body of missing Tazne van Wyk has been found

Body of missing Tazne van Wyk has been found

Police said that the 8-year-old's body was found in a stormwater pipe outside Worcester on Wednesday night.

[WATCH] Woman stuns prankster by singing Lady Gaga's song perfectly

[WATCH] Woman stuns prankster by singing Lady Gaga's song perfectly

Khabazela shares some of the videos that went viral on Twitter and Facebook.

[VIDEO] Why is Jub Jub destroying so much alcohol?

[VIDEO] Why is Jub Jub destroying so much alcohol?

Khabazela shares some of the videos that went viral on Twitter and Facebook.

GPAA explains why it awarded fairly new Mpisane Properties a huge tender

GPAA explains why it awarded fairly new Mpisane Properties a huge tender

Acting chief financial officer Phinda Nondabula says the company met all the required specifications to get the project.

And it is back: Eskom has implements stage 2 load shedding from 9 am today

And it is back: Eskom has implements stage 2 load shedding from 9 am today

The power utility will implement power cuts from Thursday morning until 6 am on Saturday.