Legal Articles and Guides
SIU raids Gupta-linked diamond company
The SIU has seized hard drives and documents from the offices of the Alexander Bay Diamond Company as part of its probe into corruption at state-owned diamond firm Alexkor, reports Fin24.
Rupert won’t be ‘blackmailed’ by shareholder
Richemont chairman Johann Rupert won't give in to activist shareholder Bluebell Capital Partners' campaign to overhaul the boardroom structure at the world's second biggest luxury group, reports Fin24.
Amazon appeal set for January
The appeal against the ban on the R4.6bn Amazon office block and park development in Cape Town will be heard by a full Bench of the High Court in January 2023.
Mediclinic and Remgro agree on terms of buyout offer
SA’s most valuable hospital group, Mediclinic, has reached terms with its biggest shareholder, Remgro, on a buyout offer that values its shares at £3.7bn, reports BusinessLIVE.
Investec to pay security costs of SA directors
Investec will pay up to £100 000 (R2.02m) to cover the personal security costs of each of its executive directors in SA due to concerns about the country’s rising crime levels, says a Business Day report.
Transnet sacking Gupta-linked crooks, MPs told
Transnet says all employees involved in its four controversial contracts for the acquisition of more than 1 000 locomotives have resigned or have been dismissed as it battles to restore credibility.
Alarming drop in overall black ownership
Just 25% of state organs submitted broad-based black economic empowerment (B-BBEE) compliance reports in 2021, leading the B-BBEE Commission to conclude that government is failing to comply with its own empowerment policies.
Racketeering charges for former Tongaat Hulett executives
Former Tongaat Hulett executives are now facing charges of racketeering relating to the alleged R3.5bn scam, in which they are said to have misrepresented land sales on the sugar giant's annual financial statements, duping the market that the company was financially sound, reports Fin24.
Amazon issues warning over River Club delays
Global e-commerce giant Amazon will not tolerate more construction delays at its planned headquarters in Cape Town due to a court standoff, says a Sunday Times report.
JSE suspends Tongaat Hulett
The JSE is suspending sugar mill giant Tongaat Hulett from trading on the local bourse from today for failing to publish its provisional results on time, reports BusinessLIVE.
Reserve Bank to regulate crypto currencies
In the next 12 to 18 months, South Africans may be able to buy and sell listed crypto currencies on local exchanges, in a completely regulated environment, according to a Fin24 report.
Liesbeek project contempt hearing postponed
Civic groups opposed to a R4.6bn office development in Cape Town’s Observatory, with tenants including Amazon, said the developers’ presence on the site is in contempt of a court order and have approached the Western Cape High Court to stop maintenance work.
Data leak shows Uber risked lives of drivers
Uber very quickly started to make money in Johannesburg and Cape Town, a new leak of data from inside the company shows.
Lottery COO to be suspended again
The new board of the National Lotteries Commission (NLC) has served chief operating officer Phillemon Letwaba with notice of their intention to suspend him, reports GroundUp.
SA in danger of joining financial grey list
SA is in grave danger of being added to a grey list of countries deemed as having insufficient measures in place to combat money laundering and terrorist financing – but the National Treasury says it is confident the country can perform a ‘miracle’ and avoid being ranked alongside Syria and Myanmar.
