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Best Of HuffPost, December 7: 7 Stories You Shouldn't Miss

Steinhoff saga continues, Rhodes SRC decries finances trumping moral considerations, and Trevor Noah kisses Beyoncé.

07/12/2017 17:49 SAST | Updated 07/12/2017 17:50 SAST
Mike Hutchings / Reuters
Christo Wiese.

1. It took Steinhoff's board of blue-blood businesspeople four months to respond to a red flag. In August, reports in Germany surfaced that high-flying CEO Markus Jooste was being investigated by prosecutors for accounting fraud. Jooste quit Steinhoff, the world's second-biggest furniture retailer, on Tuesday night –– in a move that sent shockwaves through the market. The company has commissioned PwC to investigate "accounting irregularities", after Deloitte refused to sign off on its financial statements, prompting the first market jitters. Read more.

2. The Johannesburg Stock Exchange (JSE) has decided not to suspend furniture giant Steinhoff, despite almost R200-billion of the company's market value disappearing following allegations of financial irregularities. In a series of tweets, the JSE said it had come to the decision after considering "all the facts and information at [their] disposal". Read more.

3. Rhodes University's Student Representative Council (SRC) president Rolihlahla Mabaso on Thursday said it was unfortunate that the university council was using finances as their main argument for not changing the name of the university. It was revealed on Wednesday that the institution's council had voted on the matter, resulting in 15 out of 24 members voting against a motion to change the name. Read more.

4.Actress and TV presenter Jessica Nkosi spoke to HuffPost about her money habits. She reckons saving for things beats going into debt. As we enter the festive season, here are some money tips to consider:

5. It's no secret that South African comedian Trevor Noah is doing big things in the U.S. as the presenter of The Daily Show, but when pictures and videos of him "sharing a stage" with Beyoncé circulated on social media, people could barely cope with the realisation of how A-list he's become. Read more.

6. Johannesburg's 1921 Chamber of Mines (CoM) building has become more than just an iconic architectural monument -- its roof is now the first agricultural testing ground for a pilot project to assess the feasibility of growing herbs and vegetables on the rooftops of inner-city buildings. October 2017 saw the launch of the project, called The Urban Agriculture Initiative, which was hosted by the CoM and the Johannesburg Inner City Partnership, in which the CoM is a key stakeholder. Read more.

7. Cape Town has traditionally been a more attractive option for property investors, but not everyone is drawn to coastal living. The general perception is that properties in Johannesburg are cheaper than those in Cape Town and offer better value for money, since they attract good rental returns and growth on investment. Read more.

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