Breaking News Today – Wednesday 17 December 2025

Business News Today

Platinum Hits 18-Year High on Lower Output Concerns

Platinum prices have surged over 3% today, to above $1,930 per ounce, reaching its highest levels since 2008 as rising economic and policy uncertainty in the US drove investors toward alternative assets offering higher returns and diversification. The delayed November US labor report showed the unemployment rate increased to 4.6%, the highest since 2021, even as payrolls rose more than expected. Markets are pricing in roughly a 75% probability that the Federal Reserve will keep interest rates unchanged at its January meeting, little changed from before the data release. Platinum prices have also been supported by supply-side concerns, with several mines in South Africa, the world’s largest producer, reporting weaker-than-expected output.

The World Platinum Investment Council forecasts a 2025 supply deficit of 69,200 ounces, marking a third consecutive annual shortfall, before the market is expected to move broadly into balance in 2026 with a modest surplus of around 20,000 ounces. Platinum prices have spiked by 111% this year.

Nigerian Gas Pipeline Leak Contained

Nigeria’s state oil firm NNPC Ltd announced it had successfully contained a gas leak on the critical Escravos-Lagos Pipeline System (ELPS) following an explosion on December 10 near Tebijor, Okpele, and Ikpopo communities in Delta State’s Warri South-West area. The company executed coordinated measures to isolate affected sections, ensuring no threat to host communities, personnel, or the environment. A joint preliminary inspection with regulators (NMDPRA) and contractors was conducted, and NNPC’s Gas Infrastructure Company activated its Business Continuity Plan to manage impacts on gas shippers and suppliers.The ELPS, with a 2.2 billion cubic feet per day capacity, is vital for supplying power plants and industries in southwest Nigeria. Initial reports noted a pressure drop from the blast, but containment stabilized operations.

X is all abuzz over Twitter Brand Claim

Elon Musk’s social platform X has updated its Terms of Service to indicate it still lays claim to the “Twitter” trademark. The move to add this detail to the company’s terms follows an announcement from a Virginia-based startup, which recently filed an application to trademark the term “Twitter.” The startup, Operation named Operation Bluebird, claims that X had abandoned the brand “Twitter” by renaming its social networking service “X.” In its petition to the U.S. Patent and Trademark Office filed on December 2, the startup pointed to a post from X owner Musk on July 23, 2023, which proclaimed that the social network would soon “bid adieu to the twitter brand.”

There were rumours of Jack Dorsey the founder of Twitter being involved however Dorsey, previously backed Bluesky (a separate decentralised platform that originated as a Twitter project in 2019), but he left its board in 2024 and has no reported role in Operation Bluebird. X Corp has responded by suing Operation Bluebird for trademark infringement and updating its terms to reaffirm ownership of the Twitter marks and blue bird logo.

Breaking News Shorts: 

• Meta are rolling out a software update for their AI glasses that will help people  you hear others  talking more easily within noisy environments such as restaurants.Their latest v21 software update also includes a new Spotify feature that lets users utilise Meta AI to play a song that matches what’s in their view. Meta has also introduced SAM Audio, a state-of-the-art AI model that enables editing and segmenting of sound from complex audio mixtures using text, visual, and time span prompts.
• Japan’s core machinery orders, which exclude volatile sectors such as ships and electric power, jumped 7% month-over-month to ¥992.9 billion in October 2025, accelerating from a 4.2% gain in September and defying market expectations for a 2.3% decline.
• Silver climbed above $66 per ounce today, reaching new all-time highs as a mixed US jobs report prompted investors to seek alternative assets offering higher returns to manage risk. The November US labor data showed the unemployment rate rose to 4.6%, the highest since 2021, although payrolls increased more than expected.
• Nigeria’s headline inflation rate eased for the eighth consecutive month in November, helped by slowing food inflation, official data showed, hitting a five year low. Consumer price inflation stood at 14.45% year on year last month, down from 16.05% in October. Food inflation, the largest component of the inflation basket, continued to decline, hitting 11.08%, down from October’s 13.12%, helped by the ongoing strong harvest.
• Gold climbed above $4,336 per ounce in early trade today, testing levels near all-time highs last seen in October this year, as investors continued to see scope for additional easing by the Federal Reserve next year. A softer dollar and safe-haven demand amid economic jitters amplified gains, extending the bullish trend from prior Fed easing

Markets by Numbers 

Currency markets indicate the US dollar marginally stronger today, with the Euro trading against the US dollar at 1.17233 while the Pound is trading at 1.33842 to the US dollar. The Yen is currently trading at 155.25 to the dollar. The rand (ZAR) is maintaining its strength below the key R17 mark, and is currently at R16.75.

Commodities:  

• Gold futures have seen upward momentum this morning, and up 0.6%, and are currently trading around $4331.00 per ounce.  
• Copper prices have gained over 0.6% today, with prices currently around $5.3304
• Silver futures prices are near record highs and up more than 128% year-to-date., and currently trading around $66.058
• Platinum futures have hit a new 18-year high – up over 2.8% this morning, and currently trading at $1925.00, While Palladium prices are over 0.8% higher this morning, and currently trading around $1643.00 per ounce.
• Brent crude oil prices are trending upwards today, and currently at $59.74 with WTI trading at $56.12
• Cocoa futures are flat today, and currently trading around $5998.38 per ton. 
• Coffee futures are trending flat this morning, and are currently trading at around $3.8256 per pound

Crypto Currencies: 

• Bitcoin prices are trending lower today, and trading at around $86878 per coin currently 
• Ether prices are up by almost 2% this morning, and are currently trading around $2941
• $Trumpcoin are trending lower today, and currently trading around $5.258

(All prices quoted at approximately 08H25 Central African Time) 

Africa News Briefs:

• India’s Prime Minister Narendra Modi arrived in Ethiopia yesterday for a two-day tour of the east-African country. After meeting his Ethiopian counterpart Abiy Ahmed the pair met with members of the Indian community in Addis Ababa. Ethiopia is a key economic and geostrategic partner in Africa, where India seeks to expand its influence amid competition with China.For India, Ethiopia offers a valuable strategic value, hosting the African Union headquarters, while also a co-member of the expanded BRICS group.Economically, Ethiopia is seen as a recovering market where India has a long-standing presence, with more than 175 Indian companies operating there, mainly in textiles. 
• A rebel leader in eastern Democratic Republic of Congo, Corneille Nangaa, has reportedly said his M23 rebel fighters will withdraw from the key city of Uvira at the request of the US. Corneille Nangaa’s statement came days after US Secretary of State Marco Rubio said the capture of the city by rebel forces violated the peace deal, that was signed only weeks ago with US President Donald Trump. Rubio stated that the US would “take action to ensure promises made to the President Trump are kept. Nangaa said that rebel forces would pull out of the city as a “trust-building measure”. This after hundreds of civilians have been killed and thousands left homeless after the meaningless attack.