Breaking News Today – Monday 14 July 2025

Business & Tech News 

Metal Prices Making Massive Moves:

While the world is spinning around tariffs and turmoil, the metal mining industry in Africa with the exception of steel and Iron, has hit a massive profit producing growth in prices that is unprecedented. Year-to-date (YTD), gold has seen a 28% growth in prices, Silver a 34,9% growth, copper is up +39%, palladium +45% and the big winner is platinum with a substantial 61% growth YTD as of this morning. Silver futures are up 1,6% this morning reaching their highest level in over 13 years driven demand for safe-haven assets and higher demand in the jewellery sector. Copper futures have also seen prices hit new high levels with the metal gaining over 11% in the past week alone.

Tech Group Pivots to New Deal After Buyout Fails.

Google DeepMind, is according to reports, acquiringing Windsurf CEO Varun Mohan, co-founder Douglas Chen, and some of the startup’s top researchers, after a deal for OpenAI to acquire the viral AI coding startup Windsurf for $3 billion fell through late last week. Google will not be taking a stake in Windsurf and will also not have any control over the company. However, as part of the deal, Google will have a nonexclusive license to certain Windsurf technology, meaning the AI coding startup remains free to license its technology to others. The licence fee Google will pay Windsurf for its tech is apparently in the region of $2,4 billion, and they will be able to sell the licence to various other tech groups, far outweighing the $3 billion offer from OpenAI

South African Road Traffic Management Corporation (RTMC) Head Suspended

A whistleblower has brought to light a range of allegations against the CEO of the South African RTMC, Advocate Makhosini Msibi. He has been placed on precautionary suspension effective from 1 July 2025, so that internal investigations can be completed. The whistleblower made a formal request for an investigation into financial misconduct, irregular expenditure and governance failures” at the RTMC. This included allegations of financial misconduct, irregular procurement, abuse of authority and governance failures under the leadership of Msibi. The Road Traffic Management Corporation (RTMC) in South Africa is the lead agency responsible for road safety and traffic management. Its main functions include coordination of traffic law enforcement, the regulation of traffic operations and strategic planning of road matters.

Business, Tech & Market News Shorts: 

• Firefly Aerospace, the space-tech group that achieved an historic commercial moon landing, has submitted its formal declaration to regulators this past Friday, detailing its plans to seek a public listing or IPO in 2025.
• South Africa’s media landscape just became more complex after the third version of the white paper on audio and audio-visual media services was published on Friday. It has been described as one of the most complex legislative documents ever tabled in South Africa’s ICT sector. It is intended to act as a framework for governing the entire broadcasting and media sector, including digital, and broadcast media.
• The Bank of England plan make larger interest rate cuts, at the Bank’s next meeting on 7 August. This will depend on the job market showing it is slowing down, according to its governor Andrew Bailey. In an interview with the Times, Andrew Bailey said “I really do believe the path is downward” on interest rates.
• European Commission President Ursula von der Leyen told a press conference yesterday, that the EU will delay retaliatory tariffs on US imports that were due to take effect as of August. They plan to use the time to negotiate further with the US. EU trade ministers are to meet in Brussels today to discuss the EU’s actions and response.
  

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is stronger against the Euro at 1.16729 and against the Pound at 1.34740. The Yen is currently at 147.45 to the dollar. The rand is falling this morning and currently at R17.94 to the US dollar and could breach the R18.00 mark. 

Commodities:

• Gold futures prices are trending flat this morning, and are currently at $3355 per ounce.  

• Copper prices are trending fairly flat today, with prices currently at $5.5316 

• Silver futures prices are trading 0,8% higher this morning, and are currently at $38.927

• Platinum futures are around 0,8% lower this morning, after breaking the $1400 level on Friday. They and are currently trading at $1443 . Palladium prices are trading higher this morning and currently at $1292

• Brent crude oil prices are currently at $70.48, with WTI trading at $68.57. 

• Cocoa futures have jumped by 1,1% this morning, and currently at $8840 per ton. 

• Coffee futures are trending lower today, and currently at $288.60

Crypto Currencies:

• Bitcoin prices are surging once again this morning and up by 2,7% hitting a new high and currently at $122345

• Ether prices are currently up more than 2% at $3046.10

• $Trumpcoin is currently trading at $9.89

(All prices quoted at approximately 07H35 Central African Time) 

Other Breaking News in Africa Today 

South African Police Minister Suspended:

Cyril Ramaphosa has announced the formal suspension of Police Minister, Senzo Mchunu and the establishment of another commission of enquiry into police and political misconduct. This follows remarkable revelations by KwaZulu-Natal Police Commissioner Lieutenant General Nhlanhla Mkhwanazi who publicly accused Mchunu, of obstructing probes into political assassinations, colluding with syndicates, and sabotaging a task team that investigated hundreds of politically motivated killings. Chief Justice Mbuyiseli Madlanga has been appointed to lead the commission as announced by Ramaphosa during a television broadcast last night. President Cyril Ramaphosa, has been under extreme pressure to act against officials accused of wrongdoing. He also set up a commission to investigate graft in the police that will be headed up by acting Chief Justice Mbuyiseli Madlanga. Professor Firoz Cachalia has been appointed as the acting Minister of Police.