Breaking News Today – Tuesday 10 June 2025

Business & Tech News 

Apple Software Redesign Flops

After a period of loosing its “design Shine” Apple yesterday released several incremental and system cosmetic changes to Apple’s tech platform during their annual developers conference. Apple highlighted plans for more AI tools designed to simplify people’s lives and make its products more intuitive while also providing an early glimpse at the biggest redesign of its iPhone software in a decade. However tech analysts seemed unimpressed with developments with some calling the event a flop, having had much greater expectations. Some highlighted the fact that last year Apple had promised a smarter and more versatile version of its virtual assistant, Siri — a goal that so far has not been achieved.

Hauwei Heading Chip Charge in China

Huawei Technologies, CEO Ren Zhengfei, has stated that Huawei’s processor chips are one generation behind those of U.S. However in an interview with Chinese state media, he said that the company was finding alternative ways to improve performance through methods such as cluster computing. The chipmaker invests around $25 US billion in research annually and has seen increases in performance via compound chips – chips made from multiple elements. The developments highlight the tense battle between the US and Chinese chip makers as well as the control of rare earth minerals often used in production.

Platinum Prices Spike to Four-Year High

Platinum prices have been spiking over the past week driven by a combination of factors, including increased demand, particularly from China, and a tightening supply situation.Investment demand has also played a role. in what must be great news for African mining groups, Over the past month, Platinum’s price has risen 24.82%, and is up 26.48% compared to the same time last year. while prices have flattened this morning by -1,8%, they are still up over 13% this week so far. Despite the depressed state of Auto manufacturing Globally, a major user of Platinum, growth in computer hard drives is strong, and with supply concerns has pushed prices to higher price ranges this month.

Business, Tech & Market News Shorts: 

• A new African based Credit ratings agency is set to be established this year. The African Credit Rating Agency, is a continental initiative aimed at providing alternative “non-biased” assessments of repayment risks, will in competition to S&P, Fitch and Moody’s, and plans to commence operations by the end of September.
• Cement Producer PPC saw revenue down by -2% however earnings before tax grew by 13.8% for the financial year ending 30 March 2025.
• US /China Trade talks are set to continue yesterday with little indication of any agreements been made yet. US President Trump however indicated that the talks were proceeding positively late yesterday
• The recent sale of two ports near the Panama Canal to a global consortium led by Mediterranean Shipping Company (MSC) threatens the canal’s principle of neutrality, the canal’s head Ricaurte Vasquez told the Financial Times. “There is a potential risk of capacity concentration if the deal comes the way it is structured as we understand right now,” he commented to the FT this morning.

Markets by Numbers 

Currencies: 

Currency markets indicate the US Dollar is currently trading stronger against the Euro at 1.14018 and against the Pound at 1.35237. The Yen is currently at 144.60 to the dollar, with the rand currently at R17.75 to the US dollar. 

Commodities:

• Gold futures prices are trending flat this morning, and are currently at $3318 per ounce.  

• Copper prices are trending lower this morning and are currently at $4.8505.  

• Silver futures prices are also trading lower this morning and are currently at $36.508 

• Platinum futures are trading softer this morning after spiking yesterday, and are currently trading at $1212, while Palladium prices are currently at $1072

• Brent crude oil prices are currently at $67.27, with WTI trading at $65.48

• Cocoa futures are trading upwards this morning and are currently at $10237 per ton. 

• Coffee futures prices are moving upwards today, and are currently at $361.87

Crypto Currencies:

• Bitcoin prices are currently at $109388 

• Ether prices are currently at $2667 

• $Trumpcoin is trading at $10.62

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

Other Breaking News in Africa Today 

Russia Targets Greater African Influence

The growing interest in Africa and its minerals, critical for modern technologies was highlighted again yesterday with Kremlin spokesman Dmitry Peskov stating that Russia’s presence in Africa is “growing”. The move is part of an ongoing bid by Moscow to step into a geopolitical vacuum in West Africa as Western powers such as France retreat amid a series of military coups and instability in the region. “We really intend to comprehensively develop our interaction with African countries, focusing primarily on economic and investment interaction,” Peskov told reporters. “This also corresponds to and extends to such sensitive areas as defence and security,” he added. Russia is also expanding its military footprint, delivering advanced military weapons to sub-Saharan conflict zones skirting sanctions imposed by Western nations.