Breaking News Today – Monday 8 September 2025

Business & Tech News 

EU Fines Google for Anti-Competitive Actions

The European Commission has fined Google €2.95 billion for breaching EU antitrust rules by distorting competition in the advertising technology industry (‘adtech’). It did so by favouring its own online display advertising technology services to the detriment of competing providers of advertising technology services, advertisers and online publishers. The Commission has ordered Google to bring these self-preferencing practices to an end, and to implement measures to cease its inherent conflicts of interest along the adtech supply chain. Google has now 60 days to inform the Commission about how it intends to comply. US President Donald Trump In a post on Truth Social, described the penalty as “very unfair” and “discriminatory,” arguing that it diverts funds from “American Investments and Jobs” and unfairly targets U.S. tech companies. He threatened to launch a Section 301 trade investigation against the EU, which could result in new tariffs or other penalties on European goods.

Hyundai eVTOL Air Service Hits Turbulence

Hyundai’s electric air taxi startup Supernal has paused work on its eVTOL aircraft program after a turbulent time at the start-up that saw dozens of staff cuts and the departure of its CEO and CTO after delays in promised test flights The company was still working toward its first untethered test flight before the pause. Supernal had planned to launch a commercial service in 2028. Supernal announced the departure of CEO Jaiwon Shin late last week. David McBride, the CTO, has also left according to various reports.This is the second futuristic startup under the Hyundai umbrella to run into trouble in recent years. In 2024, the Korean conglomerate had to double down on its autonomous vehicle startup Motional after backing partner Aptiv decided to exit the partnership and cut off funding to what had been a joint venture.

Mozambique Power Development Funding Announced

Mozambique has won World Bank backing for the $6 billion Mphanda Nkuwa hydroelectric plant, southern Africa’s biggest such project in 50 years. Located 60 kilometres downstream from the large hydro-electric generating Cahora Bassa dam along the Zambezi river, the Mphanda Nkuwa plant is anticipated to generate 1,500 megawatts when it commences commercial electricity generation in 2031. The project will provide economic impetus will for a region facing a 10,000-megawatt deficit that is preventing industry and economic growth potential at bay, for millions in the accessing power.

Domestically, the access gap is significant, with around 60% of the population (20 million people) lacking electricity, with rural areas hardest hit. Frequent power cuts and reliance on expensive emergency solutions persist. Mozambique also has one of Africa’s worst poverty ratings with 62-65% of the population – around 21 million people are living below the national poverty line in recent years, up from 46% in 2014/15 due to economic shocks, cyclones, and conflict.

Breaking News Shorts: 

• Exports from China grew by low 4.4% year-on-year (yoy) to USD 321.8 billion in August 2025, falling short of expectations for a 5% increase and slowing from a 7.2% gain in July. This marked the softest pace of outbound shipments since February. For the first eight months of 2025, China’s exports climbed by 5.9% yoy.
• South Africa’s African Rainbow Minerals has suspended operations at its loss-making Bokoni platinum mine while it works on a revised mining plan for the asset, it said on Friday as it reported a sharp fall in basic annual earnings.
• More than 300 South Korean workers who were detained is an immigration raid at a Hyundai plant in Georgia USA, will be released and brought home, the South Korean government announced Sunday. According to a Hyundai spokesperson, the U.S. had finalised negotiations on the workers’ release. He said South Korea plans to send a charter plane to bring the workers home as soon as possible.
• The South African rand rallied toward 17.5 per USD, earlier today, reaching a two-week high, aided by a weaker dollar and rising gold prices. Foreign exchange reserves climbing to historic highs also supported the rand with declining bond yields, reflecting relative economic stability and capacity to manage external debt obligations.
• Microsoft said Saturday that clients of its Azure cloud platform might experience increased latency after multiple undersea cables were cut in the Red Sea. In a status update, the company said traffic going through the Middle East or ending in Asia or Europe had been affected. It did not say who had cut the cables or why.

Markets by Numbers 

Currency markets today indicate the US Dollar is currently trading flat against the Euro at 1.17167 and against the Pound at 1.34992. The Yen is currently trading at 148.10 to the dollar. The rand (ZAR) is currently at R17.60 to the US dollar.

Commodities:  

• Gold futures prices are trending -0,2% lower this morning, after hitting new highs last week, and are currently trading around $3583.04 per ounce.  
• Copper prices are trading upwards today, with prices currently at $4.4891
• Silver futures prices are -0,67% lower today, and is currently trading at $40.690
• Platinum futures are trading marginally higher this morning, and are currently trading at $1377.10 While Palladium prices are trading lower this morning and currently at $1104.00
• Brent crude oil prices are currently trading around 1,2% higher, and currently at $66.28, with WTI trading at $62.65 
• Cocoa futures have recovered some of the losses last week, and up over 2% today, and are currently at $7382.00 per ton. 
• Coffee futures are marginally lower today, and currently at $385.60

Crypto Currencies: 

• Bitcoin prices are currently slightly softer today, and trading at $110935 
• Ether prices are currently trending lower today and at $4297.90
• $Trumpcoin is currently trading upwards today and currently around $8.54

(All prices quoted at approximately 07H25 Central African Time) 

Other Headline News in Africa Today

Nigerian Boko Haram Attack Leaves Dozens Dead

In a shocking new assault on civilian freedoms, Boko Haram militants killed dozens of people in a nighttime assault on a village in northeastern Nigeria that is home to residents who had recently returned from a camp for internally displaced persons, authorities said. The attack on Darul Jamal in the Bama local government area saw around 60 people murdered by the terrorists.

Borno state Gov. Babagana Zulum, visited the area and said, “We sympathise with the people and have pleaded with them not to abandon their homes as we have made arrangements to improve the security and provide food and other lifesaving items that they have lost”. These efforts though well intended will come too late for those who have been killed and those who have had their houses destroyed. .The chairman of Bama’s local government, Modu Gujja, said over a dozen houses were burnt and more than 100 people were forced to flee.

UN Report Accuses Forces of Atrocities in Eastern DRC

A United Nations fact-finding mission has accused M23 rebels, the Democratic Republic of Congo’s army, and allied militias of committing war crimes and crimes against humanity in eastern DRC, including summary executions, torture, enforced disappearances, and widespread sexual violence against civilians. The report highlights M23’s seizure of Goma earlier this year, allegedly with Rwanda’s military support—a claim Kigali denies. Signatories to a U.S.-brokered peace deal have reaffirmed commitment, but surging violence threatens stability in the mineral-rich region, displacing millions.