Fashion

South Africa clears 3 more accounts of Steinhoff insider trading

The accounts were among scores suspected of insider trading after Steinhoff’s stock turned volatile before the company disclosed massive accounting irregularities in December 2017.“We found no reason to believe that any of these shares were traded in contravention of the Financial Markets Act,” said Brandon Topham, divisional executive for investigation and enforcement at the Financial Sector Conduct Authority (FSCA).คำพูดจาก สล็อตเว็บตรง

In all, around 1.7 billion rand ($122 million) was traded ahead of Steinhoff’s announcement, the start of a downward spiral which has seen the firm lose 216 billion rand in market value.The FSCA has now investigated and cleared 56 accounts over suspected insider trading of Steinhoff sharesคำพูดจาก สล็อตออนไลน์. The latest three cleared traded over 418 million rand in shares, it said.Investigations into accounts where another 46 million rand worth of shares were traded are ongoing, the FSCA said, and updates on those would be issued at their conclusion.A summary of a PwC investigation into the scandal released by the company last month shows at least $7.4 bln in fraudulent transactions, and it has yet to release financial statements for 2018 or 2017.Separately, Steinhoff said its French unit Conforama has raised 316 million euros ($356 million) to shore up its finances after sales fell and costs rose.The company said in a presentation to lenders posted on its website that Conforama would get the money on Monday.In a separate statement, Steinhoff said Alexandre Nodale had stepped down as deputy chief executive of the group but would stay on as the CEO of Conforama until the company finalises its long-term financing.Steinhoff said it was unlikely to fill the deputy CEO position, which was created shortly after the company revealed the fraud in 2017.

Related Posts

April retail sales set for take off, but don’t expect fireworks – CBI

So let’s start with the positive. The latest monthly Distributive Trades Survey survey – which aggregates the views of 142 businesses, including 66 retailers – shows expectations that retail sales volumes…

BFC unveils Institute of Positive Fashion Forum schedule

Designed “to galvanise key players in the British fashion industry to collaborate to achieve a circular fashion ecosystem in the UK by 2030”, the event will focus on…

Some cosmetics could increase the risk of endometriosis

A chronic disease that can be disabling, endometriosis is characterized by “the presence outside the uterine cavity of tissue similar to the uterine lining which will be affected…

Wearable gadgets hobbled by -abandonment- problems

“Abandonment has been a big problem with wearable products,” said Mike Pedler, the leader of PwC’s product innovation and development practice. “It is something that everyone involved in designing…

U.S. trade panel says TPP would have small positive effect on growth

The influential trade panel said in a new analysis that gross domestic product would be $42.7 billion higher in 2032 with the 12-country Trans-Pacific Partnership in place than…

EU backs U.S. call for global minimum corporate tax, but rate to be decided

Yellen said on Monday she was working with G20 countries to agree on a global corporate minimum tax rate to end a “thirty-year race to the bottom on…