Breaking News Today – Tuesday 18 November 2025

Business News Today

Google’s Boss Sounds AI Warning

Sundar Pichai, CEO of Google’s parent company Alphabet, in a BBC interview, has said that “People should not blindly trust” everything AI tools tell them. Pichai said that AI models are “prone to errors” and urged people to use them alongside other tools. Mr Pichai stressed that it was becoming more important to have a rich information ecosystem, rather than solely relying on AI technology. This is a remarkable statement considering the amount of investment and development as well as infrastructure that has been driving worrying AI company evaluations over the past two years.

Pichai said while the growth of artificial intelligence investment had been an “extraordinary moment”, there was some “irrationality” in the current AI boom. This statement comes amid fears in Silicon Valley and beyond of an AI bubble as the value of AI tech companies has soared in recent months with companies spend extraordinary amounts of capital on the ballooning industry.

Concerns Raised Over New Business Licensing Bill in South Africa

South Africa’s draft Business Licensing Bill has drawn sharp widespread concerns from business leaders, and business interest groups.The Bill, should it be passed, proposes the establishment of a national registry of business and requires all business owners or operators to obtain a five-year licence from their local municipality. This would appear to be an additional bit of red tape that would further complicate the operation of businesses in the country, and be an additional cost, with the likelihood of preventing investment and further straining an already fragile business confidence status. South African Municipal structures are by far the weakest government layer with endemic corruption and poor financial management with widespread systematic collapses of services, worsened by ineptitude of staff.

This bill, should it be passed, would place the control of business, the economic driver within the full control of the worst performing government structures, with the potential of creating a business nightmare of epic proportion. The Bill proposes that municipalities be given the powers to determine who may operate a business, when, and under what conditions, opening the door to delays, political interference, and bribe-taking and corruption.

Oil Prices Drop Further

Brent crude oil futures dropped to $63.70 per barrel this morning, extending the previous session’s losses as concerns about excess supply outweighed the upcoming sanctions on Russian oil. The market outlook remains bearish, with expectations of a supply glut later this year and into 2026 as both OPEC and non-OPEC producers boost output amid slowing demand growth. Prices also declined following reports that Russia’s Novorossiysk port resumed oil loadings on Sunday after a two-day shutdown caused by a Ukrainian attack.

Meanwhile, traders are closely watching US sanctions against Russian oil majors Rosneft and Lukoil, set to take effect on November 21, which have already prompted major buyers like China, India, and Turkey to halt purchases and seek alternative sources. Other geopolitical risks could also prop up prices, including export disruptions from recent attacks in Sudan, Iran’s seizure of an oil tanker in Gulf waters last week, and the possibility of US military action in Venezuela.

Breaking News Shorts: 

• Networking giant Cisco has acquired EzDubs, a Y Combinator-backed consumer startup that provides real-time translation services. Cisco announced the acquisition over the weekend, but the company didn’t disclose the size of the deal.EzDubs was founded by Padmanabhan Krishnamurthy, Amrutavarsh Kinagi, and Kareem Nassar in 2023. 
• Peec AI the German AI start-up that enables companies to monitor how their brands appear in AI-powered searches, has just raised a $21 million Series A funding, led by European VC firm Singular. CEO Marius Meiners declined to disclose the valuation, but said it had tripled and was now above $100 million. This only 4-months after its initial seed funding round that raised 7 million Euros
• Crypto currencies have hit a bear run with Bitcoin slipping below $90,000 for the first time in seven months today in the latest sign that investor appetite for risk-taking is drying up across financial markets.The cryptocurrency has erased 2025 gains and is now down nearly 30% from a peak above $126,000 in October.
• U.S. stock futures edged higher on this morning after Wall Street closed sharply lower yesterday, as sentiment toward the AI trade deteriorated ahead of Nvidia’s earnings due Wednesday. The report will be scrutinised amid anxiety over stretched AI valuations, even as many expect the chipmaker to beat forecasts once again.
• South Africa’s Telkom, saw revenue rise 3.4% to R22.1-billion in its financial results for the last year, with double-digit increases in mobile data and fibre-linked services. Data now accounts for close to 60% of Telkom’s revenue, a sign of the company’s long-term investment in a data-centric network is shaping its performance.

Markets by Numbers 

Currency markets indicate the US dollar strengthening today, with the Euro trading against the US dollar at 1.15790 while the Pound is trading at 1.31605 to the US dollar. The Yen is currently trading at 155.01 to the dollar. The rand (ZAR) is currently at R17.20 to the US dollar.

Commodities:  

• Gold futures have lost over -0.8% today, and are currently trading around $4014.27 per ounce.  
• Copper prices are trending lower today, with prices currently around $4.9565
• Silver futures prices are over -1% lower this morning, and currently trading around $49.695
• Platinum futures have shed -1.36% this morning, and currently trading at $1510.20, While Palladium prices are -1.1% lower this morning and are currently trading around $1382.50 per ounce.
• Brent crude oil prices have dropped today, and currently at $63.71 with WTI trading lower at $59.34
• Cocoa futures continue its lower trajectory, and currently trading around $5233.10 per ton. 
• Coffee futures have gained further momentum today, and are currently trading at around $4.0375 per pound

Crypto Currencies: 

• Bitcoin prices have seen steep losses of over -2% this morning, and trading at around $89652 per coin currently 
• Ether prices are trending over -1.4% lower today, and are currently trading around $2980.70
• $Trumpcoin are trending over -1% lower today, and currently trading around $6.995

(All prices quoted at approximately 08H35 Central African Time) 

Africa News Briefs:

• South Africa’s attempt to establish a wide-net national healthcare structure – the NHI, is reported to be heading for the policy scrap heap, according to a report by The Common sense. The NHI has been a controversial initiative by the ANC government, that was signed into legislation by president Ramaphosa, just prior to the 2024 national elections, in what was considered to be a ploy for the government to attract votes. It did not accomplish that goal for the political party who lost their majority and had to form a coalition government. The bill has been criticised as being structured poorly and likely to destroy the private healthcare system in the country while the public healthcare has been beset with widespread corruption and maladministration challenges
• A coalition of 13 countries has announced new taxes on luxury air travel, applying to private jets as well as business and first-class tickets. Kenya, Benin and Sierra Leone were part of the original eight nations who founded the bloc in June. Antigua and Barbuda, Barbados and France are also members. Brazil, Fiji and Vanuatu have joined as observer states. Djibouti, Nigeria and South Sudan are the newest members of the coalition, joining just last week.