Breaking News Today – Wednesday 26 November 2025

Business News Today

Space-Tech Boosting Mining Exploration Success

Australian space Startup Fleet Space made a break-through announced yesterday with its satellite exploration technology proving it can deliver vastly reduced mining exploration time. The Space-tech group used its satellite AI tech to expand Quebec’s Cisco lithium project beyond its current 329 million metric ton estimate. The startup’s orbital sensors cut drilling decision time from weeks to 48 hours using electromagnetic and gravity sensing. In context, around 3 in 1,000 mineral prospects become commercially viable, and it can take years to prove it by drilling core samples. Fleet Space aims to dramatically improve those odds for mining companies, improving cost saving and cutting exploration time. The discovery suggests the Quebec region has ‘district-scale potential’ for lithium reserve that it used its satellite-powered AI system to expand the scope of an already massive lithium deposit in Quebec.

HP Announces More Global Job Cuts

International IT tech Group HP, said on Tuesday it expects to cut between 4,000 and 6,000 jobs globally by its 2028 fiscal, as part of a plan to streamline operations and adopt artificial intelligence to speed up product development, improve customer satisfaction and boost productivity. This follows an additional 1,000 to 2,000 employees laid-off in February 2025, as part of a previously announced restructuring plan.Shares of the Palo Alto, California-based company fell by – 5.5% in extended trading. HP’s teams focused on product development, internal operations and customer support will be impacted by the job cuts, CEO Enrique Lores said during a media briefing. “We expect this initiative will create $1 billion in gross run rate savings over three years,” Lores added.

New Betting Tax Touted in South Africa

With growing concerns around the mushrooming betting industry in South Africa, The South African Treasury has proposed a new national tax of 20% on online betting, which will be added on top of the existing provincial gambling taxes. A draft discussion paper regarding the proposed online gambling tax was released for public comment late on Tuesday. This new tax is expected to generate R10 billion for the national treasury, as online betting in South Africa has surged to over R1.1 trillion annually. The announcement states that the growing gabling sector in the country, has been influenced by technological advancements and increased access to the internet and electronic communication tools. The ease of access has created a growing social challenge in a country where many rely on state grants for survival.

Breaking News Shorts: 

•  OpenAI and Perplexity both announced AI shopping features this week, which integrate into their existing chatbots to help users research potential purchases. Perplexity, is highlighting that its chatbot’s memory can augment shopping-related searches for its users, suggesting that someone could ask for recommendations tailored to what the chatbot already knows about them.
• Pony.ai, the Chinese autonomous vehicle company announced it plans to triple the size of its robo-taxi fleet by the end of 2026. The Guangzhou based company, has around 961 robo-taxis in its fleet today with the goal of 100 by the end of 2025 and now plans to hit 3000 by the end of next year. Pony AI plans to scale beyondChina into eight countries which include Qatar and Singapore.
• Nigeria’s central bank kept its Central repo rate unchanged at 27%, its governor Olayemi Cardoso said on yesterday, as double-digit inflation remained a concern.Economists had predicted a 1-percentage-point cut, following up on September’s 50-basis-point cut which was the first reduction since 2020.
• Gold futures rose to around $4,150 per ounce today, close to a two-week high level, following the release of delayed US economic data that raised expectations of a December Federal Reserve rate cut. Recent figures suggest a slowing of consumer momentum, with retail sales rising just 0.2% in September after a stronger gain in August

Markets by Numbers 

Currency markets indicate the US dollar marginally softer today, with the Euro trading against the US dollar at 1.15901 while the Pound is trading at 1.31912 to the US dollar. The Yen is currently trading at 156.16 to the dollar. The rand (ZAR) is currently at R17.17 to the US dollar.

Commodities:  

• Gold futures have gained around 0.48% today, and are currently trading around $4150.83 per ounce.  
• Copper prices are trending slightly higher today, with prices currently around $5.0290
• Silver futures prices are up by 0.85% this morning, and currently trading around $5.1904
• Platinum futures have gained over 0.3% this morning, and currently trading at $1554.10, While Palladium prices are 0.7% up this morning and are currently trading around $1404.00 per ounce.
• Brent crude oil prices are trending upwards today after a drop yesterday, and currently at $62.66 with WTI trading at $58.10
• Cocoa futures have fallen below $5000 and down -1.7% this morning, and currently trading around $4999.00 per ton. 
• Coffee futures have gained over 1.8% this morning, and are currently trading at around $4.1505 per pound

Crypto Currencies: 

• Bitcoin prices are clawing back losses and trading at around $87594 per coin currently 
• Ether prices are trending over -0.5% lower today, and are currently trading around $29419.19
• $Trumpcoin are trending lower today, and currently trading around $6.241

(All prices quoted at approximately 08H45 Central African Time) 

Africa News Briefs:

• Tanzania has officially cancelled next month’s independence day celebrations, with the funds to be reallocated to rebuilding infrastructure damaged in recent election unrest, according to a statement from Prime Minister Mwigulu Nchemba.The announcement comes as the opposition and others have been calling for people to gather on independence day – 9 December – to demonstrate about killings that took place following last month’s disputed poll.
• According to Bishop Bulus Dauwa Yohanna, the chief Catholic church’s cleric, Nigeria’s government is making “no meaningful effort” to rescue more than 250 children abducted from a Catholic boarding school in the central state of Niger last Friday. While the accusation was disputed by the state’s police chief, who have now accused the school of failing to co-operate with its search and rescue operations. How they are “interfering” has not been disclosed. US President Donald Trump has threatened to intervene militarily in Nigeria if the government fails to stop “the killing of Christians”.