Breaking News Today – Thursday 22 May 2025

Business & Tech News

Lenovo Profit Lower than Expected:

Lenovo, the world’s largest personal computer manufacturer, on Thursday reported a worse-than-expected 64% fall in fourth-quarter profit, which it said was mostly due to a non-cash decline in the value of warrants. The Chinese group reported revenue of $16.98 billion for the quarter ended March 31, which exceeded analysts’ expectations of $15.6 billion. Net profit came in at $90 million, well short of the average analyst estimate of $225.8 million, according to LSEG data. Lenovo’s infrastructure solutions group, which includes servers, posted a 64% revenue increase in the March quarter compared with the previous year. The solutions and services group, which offers cloud-based software for enterprise clients, reported $2.2 billion in revenue, up 22% from a year earlier. Lenovo’s Hong Kong-listed shares dropped 2.08% after the earnings release. They have dipped 1.69% for the year to date.

Bitcoin Bounces to New High

Bitcoin rose to its highest level on record this morning, jumping beyond the previous record high set in January, as risk sentiment continues to improve after last month’s tariff-induced selloff. The world’s largest cryptocurrency by value, and traded at 111773 earlier today, increasing 2071 or 1.89% since the previous trading session. Looking back, over the last four weeks, Bitcoin gained 19.41 percent, while over the last 12 months, its price rose by 65.00 percent. Smaller cryptocurrencies are trending upward alongside Bitcoin’s rise, with Ether gaining over 3% this morning

Chinese Stocks Slide:

Chinese equities edged lower on Thursday, with the Shanghai Composite down 0.1% to 3,384 and the Shenzhen Component falling 0.2% to 10,270, with shares in Hong Kong falling 105 points or 0.4% to 23,717in this morning’s session as both markets broke a two-day gain in the indexes. The decline followed broader weakness in global markets. From a domestic perspective, the PBOC earlier this week cut key lending rates for the first time in seven months in a bid to support growth and mitigate risks stemming from global trade tensions. Major state-owned banks also reduced deposit rates to relieve pressure from narrowing interest margins. Losses were led by several high-profile names, including Contemporary Amperex (-1.5%), Hongbaoli Group (-4.8%), and Guizhou Zhongyida (-7.5%).

Business, Tech & Market News Shorts:

• Klarna, the buy-now-pay-later start-up, updated its financials using an AI-created version of its CEO, Sebastian Siemiatkowski, to deliver the results, indicating that AI is a driving factor for hitting 100 million users. It credited its use of AI for a fourth consecutive profitable quarter, explaining that it “streamlined its workforce by 40%,”.
• Xiaomi’s new electric SUV, the YU7, is expected to enter the market in July, founder and CEO Lei Jun said in a Weibo post on Thursday. The world’s third-largest smartphone maker will launch its second EV model later on Thursday.
• OpenAI CEO, Sam Altman told employees yesterday that the company’s next major product won’t be a wearable. Instead, it will be a compact, screenless device, fully aware of its user’s surroundings. Small enough to sit on a desk or fit in a pocket,

Markets by Numbers

Currencies:

Currency markets indicate the US Dollar has stabalised against major currencies, and is currently trading upwards against the Euro at 1.113292, and against the Pound at 1.34270 The Yen is currently at 143.37 to the dollar, with the rand currently trading at R17.97 to the dollar.

Commodities:

• Gold futures prices have surged by 0,45% this morning, and are currently at $3335 per ounce.
• Copper prices are trending higher this morning after gains yesterday, and are currently at $4.6854.
• Silver futures prices are trending higher this morning and are currently trading at $33.634
• Platinum futures are trading upwards this morning, and are currently trading at $1077.40, while Palladium prices are trending upwards today and are currently at $1034
• Brent crude oil prices are currently at $64.99, with WTI trading at $61.63.
• Cocoa futures are trending upwards, and are currently at $10691 per ton.
• Coffee futures prices are trending upwards this morning after falling yesterday are at $368.69 currently.

Crypto Currencies:

• Bitcoin prices continue to trade upwards this morning, hitting new high levels and are currently trading at $111437
• Ether prices have gained over 2,9% this morning, and are currently at $2627.84
• $Trumpcoin is trading slightly upwards today, and is currently trading at $14.48

(All prices quoted at approximately 07H50 – Central African Time)

Other Breaking News in Africa Today

Congolese Politician Convicted of Crime:

A Congolese former prime minister was convicted of embezzling millions from a huge failed agriculture venture, in one of the highest-profile corruption cases brought under President Felix Tshisekedi against the government of his predecessor. Matata Ponyo Mapon, who served as prime minister from 2012-2016 under then-President Joseph Kabila, was convicted on Tuesday in a case involving the embezzlement of $245 million. He was sentenced to 10-years’ forced labour, the Constitutional Court said.

Uganda Restores Military Trials of Civilians:

Uganda’s parliament on Tuesday passed an amended law that permits military tribunals to try civilians, prompting protests from the opposition who said the move violated a Supreme Court ruling in January that banned such trials. The practice, in use for the last two decades, has long been criticised by opposition politicians and rights campaigners who accuse the government of using courts martial to silence opponents, which it denies.