Breaking News Today – Friday 5 December 2025

Business News Today

Glencore’s Announcement on Collahuasi Copper JV with Anglo American

During its annual Capital Markets Day investor presentation in Baar, Switzerland this week, Glencore Plc announced its intention to maintain an equal ownership stake in the Collahuasi copper joint venture (JV) with Anglo American Plc in northern Chile, should the operation merge with Teck Resources Ltd.’s adjacent Quebrada Blanca mine following Anglo’s proposed acquisition of Teck. Glencore CEO Gary Nagle emphasised: “We won’t be a junior partner,” signalling the company’s willingness to inject additional cash to preserve equity parity.

Collahuasi, one of the world’s largest copper mines (producing ~500,000-600,000 tonnes annually), is equally owned by Glencore and Anglo American (44% each), with Japan Collahuasi Resources (a Mitsui & Co. unit) holding 10%. Located in the Tarapacá Region, it focuses on open-pit mining and leaching for copper cathodes. Anglo American’s $9.6 billion all-share bid for Teck (announced September 2025) aims to create a copper powerhouse, combining Quebrada Blanca (Phase 2 ramping to 250,000 tonnes/year) with Collahuasi for synergies like shared infrastructure.

EU Investigates Meta in New Anti-Trust WhatsApp Case

The European Commission launched a formal antitrust investigation into Meta Platforms yesterday, over its October 2025 WhatsApp policy, which restricts third-party AI providers from using the WhatsApp Business Solution for customer communications if AI is their primary service. The probe examines whether this favours Meta’s own AI chatbot, which was rolled out in the EU in March 2025, by limiting rivals’ access, potentially breaching competition rules under traditional antitrust laws, not the Digital Markets Act. New AI firms face the ban since October 15; existing ones from January 15, 2026. Violations could yield fines up to 10% of Meta’s €164.5 billion 2024 revenue (€16.5 billion), plus mandated changes. This escalates EU scrutiny of Big Tech dominance in AI integration.

G20 Snub for South Africa for 2026 US Gathering

The United States announced yesterday it will exclude South Africa from the 2026 G20 Leaders’ Summit in Miami—hosted under its presidency, while inviting Poland to join as a new member, rebranding the forum as a “New G20.” This marks a historic diplomatic snub, as SA has been a permanent G20 member since 1999, and follows the US boycott of SA’s 2025 Johannesburg summit over alleged “mistreatment” of a US representative. US Secretary of State Marco Rubio cited SA’s “stagnant” economy, burdensome regulations, “racial quotas,” and “redistributionist policies” that discourage investment, pushing SA out of the top 20 global economies (Poland has surpassed it at a $1.1 trillion GDP vs. SA’s $380 billion).

Rubio accused SA’s 2025 G20 presidency of prioritizing “spite, division, and radical agendas” over growth, tarnishing the forum. President Trump echoed this, vowing to halt all US payments and subsidies to SA “effective immediately.” SA’s Presidential spokesperson Vincent Magwenya confirmed no formal invitation was received but stated Pretoria would “take a break” from 2026 events, resuming under the UK’s 2027 presidency without expecting allies to lobby for inclusion.

Breaking News Shorts: 

• Apple’s Leadership is being reset with Kate Adams, who has served as Apple’s general counsel since 2017, retiring late next year, while Lisa Jackson, Apple’s vice president for Environment, Policy, and Social Initiatives, will retire in late January 2026. The company also announced the hiring of Jennifer Newstead, who will become its general counsel on March 1, 2026. This follows several senior management departures such as Apple’s AI chief John Giannandrea who has stepped down.
• Japan’s Nikkei 225 Index dropped 1.2% to below 50,500, while the Topix Index fell 1% to 3,365 this morning, trimming gains from the previous session as investors grew cautious ahead of a key US inflation report that could influence Federal Reserve policy. US stocks stalled overnight after jobs data showed resilience in the US labor market with unemployment numbers hitting a three year low, slightly reducing expectations for a Fed rate cut next week.
• Zambia has secured its first credit rating upgrade from S&P Global Ratings since August 2019.S&P has raised Zambia’s sovereign rating to CCC+, citing progress in debt restructuring and improved macroeconomic management. The move marks a cautious but meaningful return of investor confidence and could help unlock new financing opportunities for the country.
• Japan’s 10-year government bond yield climbed to around 1.94% on Friday, reaching its highest levels since 2007 amid speculation that the Bank of Japan will raise interest rates later this month. Key members of Prime Minister Sanae Takaichi’s government reportedly would not oppose the central bank if it decides to hike rates in December.
• China’s Shanghai Composite fell 0.1% to around 3,870, while the Shenzhen Component dropped 0.15% to 12,985 on Friday, with mainland stocks set to end the week lower as investors awaited policy signals from high-level meetings this month. Markets are focused on the annual Central Economic Work Conference and the December Politburo meeting for guidance on Beijing’s policy direction and growth targets for next year. 

Markets by Numbers 

Currency markets indicate the US dollar fairly flat today, with the Euro trading against the US dollar at 1.16579 while the Pound is trading at 1.33445 to the US dollar. The Yen is currently trading at 154.58 to the dollar. The rand (ZAR) has strengthened to below the key R17 mark to the dollar and is currently at R16.96 to the US dollar.

Commodities:  

• Gold futures are trending upwards this morning, and are currently trading around $4219.89 per ounce.  
• Copper prices have surged by 2.2% today, with prices currently around $5.3898
• Silver futures prices have gained 0.88% this morning, and currently trading around $5.8190
• Platinum futures are trending upwards this morning, and currently trading at $1660.20, While Palladium prices are up 1.49% lower this morning, and currently trading around $1467.50 per ounce.
• Brent crude oil prices are marginally higher today, and currently at $63.20 with WTI trading at $59.53
• Cocoa futures are trending lower today, and currently trading around $5434.00 per ton. 
• Coffee futures are 1.71% up this morning, and are currently trading at around $4.1065 per pound

Crypto Currencies: 

• Bitcoin prices are marginally lower today, and trading at around $92016 per coin currently 
• Ether prices are -0.4% lower this morning, and are currently trading around $3166.91
• $Trumpcoin are trending over -2% lower today, and currently trading around $5.956

(All prices quoted at approximately 08H00 Central African Time) 

Africa News Briefs:

• The leaders of the Democratic Republic of Congo and Rwanda have signed a peace deal aimed at ending the long-running conflict in the region at a summit hosted by US President Donald Trump in Washington yesterday. The event took place at the newly-renamed Donald J Trump Institute of Peace, where Trump said the peace ceremony was a “great day” for Africa and the world. Trump commented, “We’ll keep these commitments. I know they’re going to keep them and follow through on the agreement and create a much brighter future for the people of their countries.” Both DRC’s President Felix Tshisekedi and his Rwandan counterpart Paul Kagame signed the agreement
• The U.S. International Development Finance Corporation (DFC) has agreed to proceed with a $1 billion debt-for-food security swap with Kenya to replace costly debt with lower-cost financing, Kenyan President William Ruto said. Ruto, said the DFC will increase its engagement with Nairobi, including sending a representative to be based in the country from next year.
• At a major Central bank summit held in Yaoundé Cameroon, 41 African central bank governors met to discuss the strengthening of intra-African monetary cooperation. The meeting also re-energised plans for deeper integration under the African Monetary Institute (AMI), which is expected to pave the way for the establishment of a single African Central Bank by 2026.