Breaking News Today – Wednesday 3 September 2025

Business & Tech News 

Google Can Keep Chrome But not Data

District Federal Judge, Amit Mehta, has given a judgement in the US yesterday, indicating that Google will not have to sell its Chrome web browser but must share information with competitors. The remedies decided by Judge Mehta have emerged after a years-long court battle over Google’s dominance in online search, however it remains to be determined exactly how this would work. The anti-trust case was centred around Google’s position as the default search engine on a range of its own products such as Android and Chrome as well as others made by the likes of Apple. The US Department of Justice had determined that Google should sell its Chrome division. However yesterday’s decision means the tech giant can keep it but it will be barred from having exclusive contracts and must share search data with rivals.

Fraud and Credit growth in South Africa Continues

Transunion’s Q2 2025 Consumer Pulse Study reveals that there are strategic shifts in saving, borrowing, and fraud defence. according to the study, 58% of consumers were targeted by fraud in Q2, with many responding by strengthening their digital security. Ongoing financial pressure in the country is indicated by nearly 39% anticipating they will miss at least one bill or loan payment in the near term, while 45% of Gen Z and 39% of Millennials plan to apply for credit.

India Taking Proactive Growth Measures to Counter Tariffs

Indian state and federal ministers are set to meet for a two day meeting, starting today to consider the biggest overhaul of their Goods and Services Tax (GST) in eight years. The move is aimed at spurring domestic demand amid economic headwinds from US tariffs. A panel on GST, headed by Finance Minister Nirmala Sitharaman and including ministers from all Indian states, will decide on a proposal to reduce taxes on more than 400 items that range from hair oil to small cars. the GST reductions are anticipated to stimulate consumption in Asia’s third-largest economy, which grew at a stronger-than-expected 7.8% in the second quarter of 2025. The move is anticipated to boost sales for fast-moving consumer goods companies. India’s Commerce and Industry Minister Piyush Goyal, yesterday expressed optimism that India would conclude the proposed bilateral trade agreement with the US this fall, possibly by November. 

New OpenAI Acquisition – Statsig

OpenAI announced in a blog post on yesterdayday that it had agreed to acquire the product testing startup Statsig, and bring on its founder and CEO, Vijaye Raji, as the company’s CTO of Applications. OpenAI will be forking out $1.1 billion for the Statsig purchase, in an all-stock deal. This rates as one of the largest acquisitions ever for the ChatGPT maker, under the company’s current $300 billion valuation. “We’re acquiring Statsig, one of the most trusted experimentation platforms in the industry—powering A/B testing, feature flagging, and real-time decisioning for some of the world’s most innovative companies, including OpenAI” said the post. Vijaye Raji, who has a solid record of building new consumer and B2B products and systems at scale, will head product engineering for ChatGPT and Codex.

Breaking News Shorts: 

• Uganda is negotiating a new round of funding with the IMF after a previous one lapsed last year, a top Ugandan finance ministry official said yesterday. The East African country’s previous Extended Credit Facility, which was worth about $1 billion, expired last year with only around $870 million disbursed.
• The Shanghai Composite dropped 0.6% to below 3,840 while the Shenzhen Component slipped 0.2% to 12,530 this morning, a second straight session of losses as investors continued to take profits. Sentiment was further dampened by geopolitical risks after President Xi Jinping warned the world faced a choice of “peace or war” and “dialogue or confrontation” during a military parade.
• Toyota South Africa Motors, posted a robust sales performance for August, despite ever increasing competition from Chinese car imports. The auto manufacturer group achieving a year-to-date monthly sales record of 13 276 units. New vehicle sales jumped 18.7% year-on-year to 51 880 units in August.
• Gold has held above $3,530 per ounce this morning, hitting several new record highs, supported by expectations of US monetary easing and a flight to safety amid broader political and economic risks. Investors anticipate that the Federal Reserve may lower rates this month. The yellow metal is up over 4% this week and up over 34% since January this year.
• The S&P Global Egypt PMI slipped to 49.2 in August 2025 from 49.5 in July, signalling a deeper contraction in non-oil private sector activity in Egypt, and marking the sixth month of decline. The downturn was driven by quicker falls in output and new orders, as weak economic conditions and persistent inflation continued to weigh on demand.

Markets by Numbers 

Currency markets today indicate the US Dollar is currently trading stronger against the Euro at 1.16322 and against the Pound at 1.33705. The Yen is currently trading at 148.52 to the dollar. The rand (ZAR) is currently at R17.71 to the US dollar.

Commodities:

• Gold futures prices are trending upwards this morning, hitting new high records over the key $3500 level and are currently trading around $3533.35 per ounce.  
• Copper prices are trading softer today, with prices currently at $4.5573
• Silver futures prices have modulated this morning, and while still above the $40 mark, is currently at $40.709
• Platinum futures are trading around -0.35% lower this morning, and are currently trading at $1408.30 While Palladium prices are trading over 1.5% higher this morning and currently at $1154.50
• Brent crude oil prices are currently trading lower, and currently at $68.99, with WTI trading at $65.48 
• Cocoa futures are trending over -2.8% lower this morning, and are currently at $7420.00 per ton. 
• Coffee futures are marginally higher today, and currently at $386.13

Crypto Currencies:

• Bitcoin prices are currently trending lower today and currently at $110860 
• Ether prices are currently trending softer today and at $4323.54
• $Trumpcoin is currently trading around $8.42

(All prices quoted at approximately 07H35 Central African Time) 

Other Headline News in Africa Today

Homosexuality Ban in Burkina Faso

Burkina Faso’s parliament has passed a new law – The Persons and Family Code law, making Burkina Faso the latest in a series of African countries to criminalise lesbian, gay, bisexual and transgender relationships or conduct. It also tightens rules on nationality and stateless people. Offenders could face two to five years in prison, the state broadcaster reported late Monday.The amended family code was approved by the parliament on Monday in an unanimous vote that puts the code into effect more than a year after it was approved by the military government of Capt. Ibrahim Traore. The new law goes into effect immediately with individuals in same-sex relationships risking prison sentences as well as fines, Justice Minister Edasso Rodrigue Bayala said during a briefing broadcast by the state TV. He described homosexual acts as “bizarre behavior.”