Breaking News Today – Monday 2nd February 2026

Business News Today 

UK Signs Ethiopian Energy Deal

During a visit to Ethiopia yesterday, Britain’s Foreign Minister Yvette Cooper signed agreements to advance two energy-transmission projects led by UK investment organisation Gridworks. The partnerships focus on improving trade, creating thousands of jobs, and addressing economic drivers of migration from the Horn of Africa. The initiatives aim to enhance Ethiopia’s energy infrastructure, support private-sector growth, and provide alternatives to irregular migration through employment opportunities. Cooperation also includes stronger law enforcement measures against smuggling networks. The deals form part of broader UK efforts to build economic resilience in Ethiopia while tackling migration challenges

African Union and US Launches Relationship Building Initiative

The United States and the African Union have officially launched the Strategic Investment Working Group to strengthen economic ties between Africa and the U.S. The initiative aims to drive investments in infrastructure, trade facilitation, and private-sector growth across the continent. It focuses on mobilizing capital for key sectors such as energy, digital connectivity, and sustainable development projects. The working group will serve as a platform for ongoing dialogue between U.S. officials, AU representatives, and African governments to identify priority investment opportunities and address barriers to cross-border business. This move comes amid efforts to deepen bilateral economic partnerships and counterbalance other global influences in Africa.

Nvidia – OpenAI Relationship Shift?

Nvidia CEO Jensen Huang said this past Saturday that a recent report of friction between his company and OpenAI was “nonsense.”Huang’s comments came after The Wall Street Journal published a story late Friday claiming that Nvidia was seeking to scale-back its investment commitment in OpenAI. The two companies announced a plan in September through which Nvidia was to invest a further $100 Billion in OpenAI and would additionally also build 10 gigawatts of computing infrastructure for the AI company.

The WSJ, in contradiction, said Huang has begun emphasising that the deal is non-binding, and that he has privately criticised OpenAI’s business strategy and expressed concerns about competitors like Anthropic and Google. The WSJ indicated that the two companies are rethinking their relationship, while this would not necessarily require a complete sepparation, with recent discussions reportedly focusing on a smaller equity investment in the tens of billions of dollar region from Nvidia.

Bitcoin Barrels Lower

Bitcoin fell below $76,000 in early February, hitting its lowest level since early April 2025, down -14% in the last week, amid weakening demand and thinning liquidity. The cryptocurrency has been under pressure lately, dropping about 40% below its October peak. In January, marking Bitcoin’s fourth consecutive monthly drop, the longest losing streak since 2018, during the crash that came after the 2017 initial coin offering boom. Selling pressure was further reinforced by significant outflows from US spot Bitcoin ETFs, which recorded $1.49 billion in net withdrawals during the final week of January.

Heavy liquidations (billions in forced sales of leveraged long positions), macro uncertainty (Fed-related news, dollar strength), and broader risk-off sentiment across markets have fuelled the selloff. Other major tokens also faced increased selling pressure, with Ether falling to an eight-month low, down -23% in the last week, with Solana down by -19% in the last week and dropping to its lowest level in two years.

Gold and Silver In a Price Dive – off Record Highs

Gold prices have slid more than 4.5% to below $4,670 per ounce on Monday, extending losses from the prior session when the precious metal suffered its steepest fall in more than a decade. Friday’s price rout was sparked by reports that US President Donald Trump plans to nominate Kevin Warsh, viewed as a more hawkish choice, to lead the Federal Reserve. Profit-taking also emerged after a relentless rally that had pushed gold to multiple record highs. Meanwhile Silver futures are dropping rapidly this morning, down further from Friday’s 26% plunge which was its biggest one-day decline ever. Silver tumbled nearly 10% to below $78 per ounce on Monday, remaining under pressure as the market continued to reel.

Breaking News Shorts:  

• BYD’s January vehicle sales plunged by -30.1%, compared to January 2025, marking the fifth consecutive month of decline in sales, as the Chinese electric vehicle maker navigates global market uncertainties and tough local competition in China. BYD’s production dipped -29.1%, inn January, hitting a consecutive seven month contraction period.The automaker sold 210,051 vehicles globally, with the export volume at 100,482 units for the month of January.
• The yield on the 10-year US Treasury note rose above 4.25% this morning, gradually moving higher as investors assessed the outlook for Federal Reserve policy under Kevin Warsh while awaiting a key jobs report. President Donald Trump nominated Warsh as the next Fed chairman on Friday,
• Japan’s 10-year government bond yield rose about 3 basis points to around 2.27% today as investors prepared for the Feb. 8 snap lower house election, where Prime Minister Sanae Takaichi’s ruling party is expected to gain seats and push for expansionary fiscal policies
• The South African Revenue Service (SARS) plans to introduce a VAT e-invoicing framework in 2026, advancing toward automated VAT reporting and compliance. The system will enable real-time digital invoicing and data submission to tax authorities, with a full rollout targeted by 2028.

Markets by Numbers 

Currency markets indicate the US dollar strengthening today, with the Greenback trading against the Euro at 1.18554 while trading against the Pound at 1.36713 to the US dollar. The Yen is currently trading at 154.92 to the dollar. The rand (ZAR) is currently trading at around R16.26 to the dollar.

Commodities:  

• Gold futures have fallen further by -4.8% this morning, and currently trading at around $4655.65 per ounce.  
• Copper prices have slid by over -3% today, with prices currently around $57.288 per pound
• Silver futures have plunged by around -10% today, and currently trading around $76.208 per ounce.
• Platinum futures are down by around -5% this morning, currently trading at $2007.00, While Palladium prices have dipped by around -5.9% this morning, and currently trading around $1605.50 per ounce.
• Brent crude oil prices are trending over -5% lower today, and currently at $65.60 with WTI trading lower at $61.61
• Cocoa futures are marginally higher today, and currently trading around $4200 per ton. 
• Coffee futures are currently trending upwards today, and trading at around $3.3341 per pound

Crypto Currencies: 

• Bitcoin prices are trending -2.4% lower this morning, and trading at around $75149 per coin currently 
• Ether prices are trending over -3% lower, and are currently trading around $2198.35
• $Trumpcoin are trending lower today, and currently trading around $4.073

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

Africa News Briefs:

• Tanzania has launched an ambitious program to develop its local pharmaceutical industry, with the goal of reducing dependence on imported medicines and positioning itself as a manufacturing hub for East Africa. Currently, more than 80 percent of medications and medical equipment used in the country are imported, costing Tanzania around one billion dollars every year.
• The Nigerian army said on Sunday it had killed a top Boko Haram commander and 10 other militants during a night operation in northeastern Borno state according to a Reuters report.The army identified the leader killed as Abu Khalid and said he was second-in-command of Boko Haram in the Sambisa Forest.”Abu Khalid was a key figure within the terrorist hierarchy, coordinating operations and logistics in the Sambisa axis,” said the army statement.
• The South African market were denied access to “Melania,” a documentary about First Lady Melania Trump, that was released this past weekend and has exceeded box office expectations globally, with Sunday estimates suggesting it will make $7.04 million in ticket sales on its opening weekend. Amazon paid $40 million to acquire “Melania” and is reportedly spending $35 million to promote it. So even though the documentary is outperforming pre-release estimates predicting a $3 to $5 million opening weekend. The distributer in South Africa, Filmfinity’s head of sales and marketing, Thobashan Govindarajulu, stated it was “based on recent developments” and “the current climate,” without elaborating further publicly.