Breaking News Today – Tuesday 10 February 2026

Business News Today 

AI Group Databricks Hits 65% Growth Rate

Databricks, the Data and AI company, announced yesterday that it had crossed a $5.4 billion revenue run-rate, delivering more than a 65% year-on-year growth during its fourth quarter. Building on this momentum, Databricks said it would be completing investments in the company in excess of $7 billion, including around $5B in equity financing at a $134 billion valuation and about $2B via additional debt capacity. With this new funding, the company is set to will accelerate Lakebase, its server-less Postgres database built for AI agents, and Genie, its conversational AI assistant that enables employees to chat with their data.

According to the company statement, the financing drew strong participation from both new and returning investors, with JPMorganChase expanding its investment in the company through its Security and Resiliency Initiative’s newly-formed Strategic Investment Group. Databricks business model is to build and scale data and AI apps, analytics and agents for global companies.

Yuan with Marked Dollar Exchange Increase

China’s offshore yuan strengthened to 6.9 per dollar on Tuesday, nearing its highest level in around thirty-four months, as momentum in the currency built after Chinese regulators urged local banks to curb excessive exposure to US Treasuries. Financial institutions were advised to reduce their Treasury holdings, and trim positions where exposure to the US dollar is high, citing concerns over concentration risks and to mitigate the impact of uncertain US economic policies. The shift underlines a broader global move away from dollar assets and fuelled expectations of a gradual structural shift in China’s currency strategy.

This follows President Xi Jinping statement that outlined ambitions for a “powerful currency” in state media earlier this month. Corporate demand for yuan also continued to surge ahead of the Lunar New Year holiday. Various African states such as Kenya have recently concluded loan conversions from dollar based to yuan based transactions giving further momentum to China’s currency ambitions.

Harmony Hits Hiccup on Copper Expansion

The Chief Executive of South African miner Harmony Gold, Beyers Nel, stated yesterday that the recently acquired CSA Copper Mine in Australia requires a capital injection and a strategic rethink which could take as long as two years to finalise. Harmony, who are the apex gold producer by volume in South Africa, has started to diversify into the copper mining sector with high demand for the metal forecast over the next 20 years, as a critical manufacturing component for electric vehicles and green power grid infrastructure.

While high current gold prices are driving good returns for gold mining in South Africa, it remains an expensive extraction process which becomes more costly and geologically challenging due to the depth of the country’s gold mines. Under the management of the previous owner – Mac Copper, the mine was producing around 40,000 metric tons of copper per annum. However, Harmony has yet to say whether it can maintain or increase that output yet with indications that there are production challenges affecting growth.

South African Agri-Exports Grow Despite Tariffs

South African agricultural exports grew last year by around 10% hitting a fresh annual record of $15.1 billion in 2025, despite reduced shipments to the US which reduced the second half year volumes in 2025. This was the seventh consecutive annual rise in Agri-export value, even with the effect of tariffs imposed on some goods which saw shipments to America fall by 11% in the third quarter and 39% in the final quarter, according to Wandile Sihlobo, chief economist of the Agricultural Business Chamber of South Africa. The rest of Africa accounted for 53% of South Africa’s agricultural exports in the fourth quarter, Asia and the Middle East exports equalled 17% and the European Union 16%. The Americas, including the US, represented only 4% of South Africa’s agricultural shipments.

Breaking News Shorts:  

• Japan’s Nikkei 225 Index rose 1.6% to above 57,200 while the broader Topix Index gained 1.4% to 3,836 today, with Japanese shares scaling fresh record highs following Prime Minister Sanae Takaichi’s decisive win in Sunday’s general election. The landslide victory gave her a solid mandate to push for increased spending and tax cuts
• Anthropic’s expansion into India has hit a snag with a local software company Anthropic Software who says it has used the name since 2017. The company has filled a court complaint saying it was already using the name “Anthropic,” in a classic example of how the rapid global push of AI firms collide with local entities. The company is seeking compensation of around $110 000
• Silver fell about -2% to below $82 per ounce today, breaking a two-day advance as traders locked in profits, while volatility in the precious metals market persisted following a historic rout in recent weeks. The white metal also remains down about 33% from its all-time high reached on Jan. 29 
• Copper futures fell to around $5.9 per pound this morning, pausing a two-day rebound amid signs of slowing demand in top consumer China ahead of the Lunar New Year holidays. Industrial activity in China slowed as manufacturers paused operations
• Palladium futures dropped to around $1,700 per ounce in early trade this morning, having fallen by over -10% in the last month, retreating from recent highs of over $2100 reached in early January this year, as investors took in profits following strong gains with the metal up over 75% in the last year.

Markets by Numbers 

Currency markets indicate the US dollar losing further momentum today, with the Greenback trading against the Euro at 1.19083 while trading against the Pound at 1.36809 to the US dollar. The Yen is currently trading at 155.10 to the dollar. The rand (ZAR) is currently trading at around R15.90 to the dollar holding steadily below the R16.00 level.

Commodities:  

• Gold futures have lost some ground but are holding above the $5000 per ounce level today after some profit taking, down by around -0.8% this morning, and currently trading at around $5015.00 per ounce.  
• Copper prices have slipped lower today, with prices currently around $58.891 per pound
• Silver futures have dropped by over -3% today, and currently trading around $80.683 per ounce.
• Platinum futures are down by around -1.2% this morning, and currently trading at $2082.00, While Palladium prices have fallen marginally this morning, and currently trading around $1732.50 per ounce.
• Brent crude oil prices are trending lower today, and currently at $68.88 with WTI trading lower at $64.14
• Cocoa futures are around -2.2% lower today, and currently trading around $4102 per ton. 
• Coffee futures are currently trending higher today, and trading at around $2.99 per pound

Crypto Currencies: 

• Bitcoin prices are trending lower today, and trading at around $69582 per coin currently 
• Ether prices are down over -1% today, and are currently trading around $2068.30
• $Trumpcoin are currently trading around $3.337

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

Africa News Briefs:

• Tanzanian Foreign Minister Mahmoud Thabit Kombo held talks with his Russian counterpart Sergey Lavrov in Moscow yesterday, in the latest sign of strengthening relations between the two countries. During the meeting, Kombo delivered a letter from Tanzanian President Samia Suluhu Hassan to Russian President Vladimir Putin, underscoring Dar es Salaam’s commitment to expanding bilateral cooperation. Russia and Tanzania have steadily expanded cooperation in recent years, particularly in defence, trade and energy.
• Tensions are rising in the Horn of Africa after Eritrea rejected Ethiopian claims that its troops are operating inside Ethiopian territory. Asmara called the accusations “false and fabricated,” after Ethiopia demanded Eritrean forces withdraw, accusing them of backing insurgents fighting federal troops, particularly in the Amhara region. Eritrea’s Information Minister says the allegations were part of a hostile campaign against his country and insisted Eritrea has no desire to escalate tensions.