Breaking News Today – Thursday 19 June 2025

Business & Tech News 

Silver Gaining Ground:

Silver prices have remained above $36.50 per ounce this morning, closing on a near 13-year high as escalating Middle East tensions fuelled safe-haven demand. Investor market concerns intensified after reports indicated US officials are preparing for a potential strike on Iran, amplifying concerns of broader regional instability. Silver surged to its highest level since 2012 earlier this week, hitting over $37 per ounce, supported by a combination of safe-haven inflows, and growing industrial demand, supported by deepening supply deficits. The metal’s expanding role in solar energy, electronics, and electrification now accounts for more than half of global demand, increasing its structural importance in global manufacturing. On the supply side, the market remains tight, with the precious metal seeing its fifth consecutive annual deficit and increasing price surges

Solo Built Tech Company Sells for $80 Million:

Israeli developer Maor Shlomo is $80 million in the black after concluding the sale of his solo built Base44 to Wix yesterday. Shlomo sold his 6-month-old, bootstrapped AI based Web App building startup Base44, in a cash deal that proves that a multi-million dollar, solo bootstrapped tech entity is possible to build.  Base44 had a total of eight employees, who combined will have a share of $25 million out of the $80 million, that will be paid to them as a “retention” bonus. Wix declined to give details of how long they are contracted to remain employed to see the full payout share. In its six months of trading, Base44 grew to 250,000 users, hitting 10,000 users within its first three weeks. The venture was started by Shlomo as a side hustle.

Amazon Grows its Robo-Taxi Investment

Amazon has announced a massive 220,000 square foot factory investment that will look to gear the group up to make as many as 10,000 robo-taxis annually. Located at a plant near Silicon Valley it will be the launchpad for Amazon to enter the market to challenge self-driving cab leader Waymo. Tesla is also actively developing its robot-taxi tech in what is anticipated to be a massive market opportunity. The investment by Amazon is a new phase in the tech group’s push into the autonomous vehicle sector technological that began taking shape in 2009, when Waymo was launched as a secret project within Google. Amazon entered the market five years ago when they bought Zoox for $1.2 billion. Zoox has been testing its fleet in the Las Vegas area and plans to expand into San Francisco next year.

Business, Tech & Market News Shorts: 

• Multiplier, the AI accounting firm has announced that it has raised a total of $27.5 million in seed and Series A financing. Lightspeed Venture Partners led the Series A funding round for the startup. Multiplier is part of a growing trend of startups acquiring existing service businesses and scaling them with AI.
• The SHANGHAI 50 dropped to a 6-week low of 2662.00 Index Points today, with the index continuing to slide over the past month, when the Shanghai 50 has lost -1.96%, while over the last 12 months, it gained 10.59%.
• The US Federal Reserve left its key interest rate unchanged, despite expectations of the economy weakening.The decision was the fourth consecutive unchanged position (since December 2024), keeping the bank’s lending rate at 4.3% with two rate cuts still possible this year.
• Texas Instruments has announced that they will invest more than $60bn in chip manufacturing in the US. The company said it plans to build or expand seven chip-making facilities at three sites in Texas and Utah, that will create 60,000 additional jobs. They described the move as the “largest investment in foundational semiconductor manufacturing in US history.”
  

Markets by Numbers 

Currencies: 

Currency markets indicate the US Dollar is currently trading stronger against the Euro at 1.14514 and against the Pound at 1.33887. The Yen is currently at 145.20 to the dollar, with the rand currently losing over 0,5% against a stronger dollar today and at R18.09 to the US dollar. 

Commodities:

• Gold futures prices have dropped by almost -0,5% this morning, and are currently at $3352 per ounce.  

• Copper prices are trending almost 1% lower this morning and are currently at $4.8057 

• Silver futures prices are trading lower after spiking yesterday, and are currently at $36.43 

• Platinum futures are trending lower this morning, and are currently trading at $1316, while Palladium prices are currently at $1051

• Brent crude oil prices are currently at $76.82, with WTI trading at $75.42

• Cocoa futures are currently trending upwards and at $9618 per ton. 

• Coffee futures prices are currently at $317

Crypto Currencies:

• Bitcoin prices are currently at $104783

• Ether prices are currently at $2520.50

• $Trumpcoin is trading at $9.38

(All prices quoted at approximately 08H15 – Central African Time) 

Other Breaking News in Africa Today 

DRC Rwanda Peace Accord Agreement

Rwanda and Democratic Republic of Congo (DRC) negotiation teams have reportedly initialed a draft peace agreement that is expected to be signed next week. The announcement was made jointly by the two countries and the United States on Wednesday. The Agreement is the first step in normalising the situation in Eastern DRC that has been torn by military conflict that has resulted in thousands of deaths and hundreds of thousands being displaced. The provisional agreement, announced in a joint statement, is hoped to be a breakthrough in talks held by the US that will see the end of fighting in eastern Congo and bring billions of dollars of Western investment to the region, which is rich in minerals including tantalum, gold, cobalt, copper and lithium.