NewsWrap: Hersov slams SARU; Breytenbach: Simelane must go; Tesla results; and Putin’s message to the West

In today's BizNews NewsWrap, we cover the most talked-about stories. Rob Hersov shares his unfiltered views on the controversial Springbok private equity deal. Advocate Glynis Breytenbach calls for Justice Minister Tembi Simelane's resignation amid VBS Mutual Bank scrutiny. We dive into Tesla's impressive earnings report, with Bloomberg and Seth Goldstein of Morningstar. Finally, Russian historian Irina Filatova unpacks BRICS' geopolitical shift and its message to the West. Tune in for the latest updates and expert insights!

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Transcript of the video ___STEADY_PAYWALL___

Hello and welcome to the BizNews NewsWrap. It's Thursday, October 24th, and I'm Lucy Ferreira, bringing you today's top news highlights from BizNews. We've curated the most important clips for you, but if you want to dive deeper into any of these interviews, head over to BizNews.com, TV, and Radio. We've got an exciting lineup for you today.

First, we'll hear from famously outspoken global entrepreneur Rob Hersov, who holds nothing back when discussing the controversial Springbok private equity deal.
Next, advocate Glynis Breytenbach delivers a scathing indictment of Justice Minister Tembi Simelane, amid growing calls for her resignation. After that, Tesla's latest earnings take center stage, with insights from our partners at Bloomberg. And lastly, Russian historian Irina Filatova unpacks the message from the BRICS summit as Russia signals a bold stance to the West.

To start, Alec Hogg sat down with Rob Hersov to discuss the proposed private equity deal involving South Africa's beloved Springbok rugby team, a deal sparking widespread controversy.

SA Rugby's plan to sell a 20% stake to Ackerley Sports Group for $75 million aims to enhance financial stability and expand the team's global presence. However, critics are raising concerns about transparency and the potential for investors to disproportionately benefit, which could lead to a loss of local control over the iconic Springbok brand.

Rob Hersov, with his extensive background in sports, media, private equity, and finance, weighs in on the debate.

Next, we turn to the growing calls for Justice Minister Tembi Simelane's resignation after her controversial involvement with VBS Mutual Bank came under scrutiny. DA spokesperson on justice, Advocate Glynis Breytenbach, didn't mince her words as she highlighted Simelane's unethical behaviour during her tenure as mayor of Polokwane. Breytenbach argues that Simelane's current role in the justice system compromises the integrity of the investigation into her dealings.

In an interview with Alec Hogg this morning, Breytenbach details these conflicts of interest and makes a compelling case for why Simelane must step down while investigations proceed.

Now, over to our partners at Bloomberg, where Morningstar equity strategist Seth Goldstein reacts to Tesla's better-than-expected quarterly results.

Tesla posted adjusted earnings of 72 cents per share, exceeding analyst predictions, and reiterated plans to begin production of more affordable models in the first half of 2025. Following these announcements, Tesla's stock surged by 12% overnight.

Finally, the first meeting of the newly expanded BRICS group marked a turning point in global geopolitics, with countries like Iran joining the bloc. This shift signals BRICS moving further away from the West.

Russian historian Professor Irina Filatova joined Chris Steyn this morning to unpack the evolving role of BRICS. She explains how the group has shifted from a reform-oriented bloc to one increasingly challenging Western dominance in the global economic and political system.

That's it for today's NewsWrap. Don't forget, you can find all of these interviews and articles on BizNews.com, TV, and Radio. And make sure to join Alec Hogg's BizNews Briefing live tomorrow at 07h00—head to the BizNews homepage for the link. Thanks for tuning in, and we'll see you next time!