Pope Francis is the new leader of 1,2 billion Catholics. But he’s also the man in charge of the Vatican’s finances. Former pope, Benedict made progress in reforming the Vatican Bank by replacing the president and creating a financial-intelligence committee after allegeations of abuse and mismanagement spanning decades. Recent controversy Modern controversy surrounding the bank […]
Banking Giant, HSBC has a fresh set of allegations of illegal activity in Argentina to answer to. The Argentinian government alleges HSBC used “fake receipts” to facilitate money laundering and tax evasion to the tune of $77 million (R706 million) in that country. Argentina’s tax authority has filed criminal charges against HSBC. HSBC said they […]
The future is not looking that bright for Ju-Ju. Julius Malema has missed the deadline to file challenges to SARS’ application for the sequestration of his estate to cover the R16 million tax debt bill. Court documents dated 14 March 2013 said Malema “failed to file an answering affidavit and the application is therefore set […]
We spotted an article on BusinessInsider about a Reddit post which showed a search for high and low end retailers, as a way to define a city’s rich and poor areas. We did the same thing, pitting Woolworths against Shoprite. Here are the results:
Apparently Deputy President, Kgalema Motlanthe thinks it’s okay to use public money to foot the bill for transport and security costs of his Seychelles Christmas vacation. And according to Motlanthe, the use of public money was in line with government policy. Democratic Alliance MP, David Maynier posed a question to Motlanthe in the National Assembly, […]
What’s a few billion dollars between friends? A lot, according to Saudi Arabia’s Prince Alwaleed Bin Talal, who is challenging Forbes’ ranking of his wealth. Forbes reported the prince’s wealth to be a staggering $20 billion (R181 billion), ranking him at 26 on the Forbes Richest List. But Prince Alwaleed Bin Talal said he has a […]
We caught up with 2oceansvibe Media’s accountants, Galbraith Rushby, who gave us this thorough analysis on the 2013 Budget Speech and what it means for you and me. In English that you can understand! Click for more.
A man made island of sail-shaped skyscrapers surrounded by tropical seas was billed to be China’s Dubai. But unlike Dubai, Phoenix Island has not been able to rise from the ashes. Property on Phoenix Island is considered a bad investment in light of the recent economic downturn. With China’s unstable economy proving to be crippling for the […]
Banking giant and international doer of evil, J.P. Morgan Chase confirmed yesterday during an event for investors at its Midtown Manhattan headquarters that it plans to cut 17 000 jobs over the next two years while committing to a program of global expansion. With a current workforce of approximately 260 000, the bank plans to […]
Gasp, horror, shock. The poor government didn’t see that vast amounts of jobs would be lost as a result of their poor management of an on-going crisis in the mining sector in South Africa.
Shhhh! This video will self-destruct within zero-zero-seven seconds of viewing. One of our agents caught this top secret footage at this weekend’s South African release of Skyfall, the latest film in the Bond series.
Launching this morning, MTN and Pick n Pay have teamed up to give South Africa an all new mobile money banking system.
Have you ever watched that TV programme called Dragon’s Den? Well, Corculture is South Africa’s answer to this. If you’re an entreprenuer like me and you want to take your company to the next level – this is what you’re looking for. Trust me..
As one of the world’s biggest and most successful companies, it’s no surprise that Google is pretty much the first place people look when they’re considering online advertising. But, what exactly does that mean for the search giant? As it turns out, it means money, lots and lots of money.
This can’t be linked to the recent strike turmoil in the country, but it’s still a reflection of heightened global economic uncertainty. It should also serve as a wake up call to those involved in wasteful spending, but it probably won’t.
Over the past few weeks the government departments financial results have been doing the rounds in Parliament and, amongst other findings, it was revealed that local goverment has spent R4,67 billion on food, entertainment and travel and accommodation.
Well this is embarrassing, Robert Kiyosaki has filed for corporate bankruptcy after being ordered to pay out almost $24 million following a US court ruling.
Moody’s announced today that, following the revision of the country’s foreign currency desposit ceiling, it had downgraded South Africa’s five biggest banks. This comes only days after the ratings agency downgraded SA’s government bond rating.
Cheryl Carolus and six other SAA board members resigned yesterday, plunging the state-vested airline into yet more turmoil.
Somehow SAA has managed to fail to produce its annual report on time – six months after its year-end. Its claiming it needs to address its “immediate financial challenges” before auditors can complete the financial statements.
Well, this isn’t good news for Greece, especially as they have to reduce that budget deficit before they can get the next tranche of cash that has been promised to them.
The US government is on the verge of announcing its $16 trillion debt, a figure that is 104% of the nation’s gross domestic product. That’s right folks, the US’s debt has officially overtaken its economy.
As the petrol price is set to increase by 93 cents a litre on Wednesday, it’s been revealed that South Africa imported no crude oil from Iran last month, traditionally one of our biggest suppliers.
Earlier this year, it was reported that 1time Airline was in serious financial trouble, and some even wondered if they’d be around next year. 1time now requires a business rescue as they are “financially distressed”, and owe millions.
Africa’s largest social network already has MXit Moola as part of its mobile payment infrastructure, but they just got a little bit cleverer by partnering with Standard Bank and introducing MXit Money.
It’s a pity Lew Campbell wasn’t able to capitalise on this past week’s snow, but he definitely hopes we’ll see similar snow next year because he plans to have Tiffindell up and running by next winter. Lew is the proud new owner of SA’s only ski resort, and he has plans to turn Tiffindell into […]
It emerged overnight that three Independent Newspapers executives will sue Noseweek in the Western Cape High Court, claiming a collective R1 million for defamation.
The Sekunjalo Consortium has made a multi-billion rand bid to buy Independent Newspapers, but they might want to knock off R1 million from that bid for the “kickback” Independent took from Auction Alliance last year.
US regulators have accused British bank, Standard Chartered, of behaving like a “rogue institution” and of laundering $250 billion from Iran, hiding the transactions for over a decade, a violation of US sanctions.
This will be a decision that will please many: Cape Town’s city council has approved the proposal to rezone the Cape Town Stadium in Green Point for commercial activity.