Business & Tech News
Nanotube AI Diagnoses Ovarian Cancer:
Dr Daniel Heller and his team at Memorial Sloan Kettering Cancer Centre, have developed a novel ovarian cancer detection technology using carbon nanotubes. These nanotubes, when introduced to a blood sample, emit unique light patterns based on the molecules present. The resulting complex data, however, requires artificial intelligence (AI) to identify subtle patterns indicative of ovarian cancer. The AI is trained using blood samples from patients with and without ovarian cancer, as well as those with other conditions to improve diagnostic accuracy. This innovative approach offers a potential breakthrough in early ovarian cancer diagnosis.
Bitcoin “Fake Founder” Claim Crushed by Court:
Craig Wright, an Australian computer scientist residing in the UK, has been found in contempt of court for persistently and falsely claiming to be Satoshi Nakamoto, Bitcoin’s creator. He was ordered to cease these claims but continued to pursue costly legal actions asserting intellectual property rights and a massive financial stake in Bitcoin. A judge deemed his behaviour “legal terrorism” and sentenced him to a suspended prison sentence, however his claimed location in Asia complicates enforcement. Wright appeared in court via a video link. His unfounded assertions, which began in 2016, were ultimately refuted by the UK court, with the judge, Mr Justice Mellor, stating he “lied extensively”. The case highlighted Wright’s attempts to leverage his false claim for personal gain.
Power Outage Potential Returns to SA:
Warning signs of potential power outages in South Africa have been highlighted by energy specialist company Forest Energy. Speaking to ENCA this morning (20 Dec), Jason Delaney, an energy specialist at Forest Energy said that there had been changes in the data coming out of the national power facility Eskom, that indicate that South Africa may be heading into periods of power outages again in the new year. He said that the energy availability factor had dropped below 60% again and that there was a corresponding increase in diesel fuel consumption at the power utility, that would indicate that there are issues with consistent power generation. This he contends indicates that lower levels of regular power outages may be on the cards in early 2025.
Market News
Markets:
Indices in the US, mostly closed in negative territory for the second consecutive session yesterday with the NASDAQ closing down by –0,47%, the S&P 500 was down -0,09% and the Dow Jones closing slightly up by 0,04%. Asian markets this morning have seen Nikkei close down by -0,2% and is at 38736 currently, while the Hang Seng is down by -0,56% and is at 19752,51 currently.
Currencies:
The US Dollar has strengthened against major currencies and battering Emerging Market currencies currently. The Dollar is at 1.036 against the Euro, at 1,249 against the Pound, and at 156,88 against the Yen. The Rand value dropped further yesterday, with the currency currently trading at R18,37 to the US dollar.
Commodities:
- Gold has rebounded above the $2600 mark after dropping to $2580 last night, with the price currently at $2,601.53 per ounce
- Platinum prices have dropped again this morning due to ongoing concerns around China’s economy, and is currently trading at $916.90 down 5% for the month, while Palladium prices down further having dropped by 6% for the week and at $889.00 currently
- Brent crude continues on a downward trend and at $72.55 currently with WTI trading lower at $69.14 currently.
- Cocoa has seen some modulation of prices after massive gains in the past two weeks, and is currently selling at $11,779 per ton.
- Coffee prices have also cooled slightly and is at $3.23 per pound currently.
Crypto Currencies:
- Bitcoin dropped below $100,000 last night after news of no further Fed rate cuts hit the market and strengthened the US Dollar, and is currently trading at $97048
- Ether also saw prices drop overnight and is trading at $3379.02 currently
(All prices quoted at approximately 08H20 – Central African Time)
Other News in Africa Today
Guinean Court Jails ex-defence Minister:
A Guinean court has sentenced former Defence Minister, Mohamed Diané, to five-years imprisonment and a substantial fine for corruption-related offences, and have ordered seizing of his assets. This conviction stems from an anti-corruption campaign launched by the ruling military junta following a 2021 coup. While initially praised by the public, the junta’s actions are now being criticised for potentially targeting political opponents and hindering democratic progress. The promised elections and constitutional referendum remain delayed, raising concerns about the junta’s intentions. Diané’s case reflects the complexities experienced in post-coup regimes with ongoing struggle for accountability and the promised democratic reform in Guinea still not on the horizon. The scale of the anti-corruption effort, that spans over 180 individuals, is however also a reflection on the previous governments failure to rein in corruption.
UN Call for Sudanese Peace:
The UN Security Council convened yesterday (19 Dec) to address the escalating humanitarian crisis in Sudan, characterised by widespread violence, famine, and mass displacement resulting from a conflict between the Sudanese Armed Forces and the Rapid Support Forces. U.S. Secretary of State Antony Blinken on provided a terse message to countries providing military support to Sudan’s warring parties or profiting from the conflict: “Enough.” he stated and urged nations to cease military support for either side, while several countries denied providing such aid despite evidence to the contrary. The UN highlighted the horrific scale of atrocities, including widespread sexual violence, demanding urgent international intervention and aid. A $200 million additional humanitarian aid package was announced by Blinken, alongside calls for accountability for those responsible for the horrific crimes.
