Business News Today
Chat GPT Announces Surprise New Browser Launch Challenging Google
OpenAI launched its new AI driven Atlas web browser named “Atlas” in a surprise livestream. The Announcement kicked-off with CEO Sam Altman himself, speaking directly to the audience. “We think AI represents a rare, once-a-decade opportunity to rethink what a browser can be about,” Altman said. According to Altman the browser has been developed with the idea of how people can use the web in the most productive and pleasant way.
The browser incorporates a chat type functionality where a user will browse the web based on a “discussion or chat with chat GPT. The browser allows users to decide what Chat GPT remembers of their browsing history, allowing you to decide if it can pickup where you previously left off as well as being able to summarise content or make comparisons of products or content and includes the ability for the browser to take actions for a user such as plan trips. Market commentators see the move as a direct challenge to Google’s dominance in the Browser Market that it dominates.
South African Inflation Target of 3% now Certain
Confirmation of South Africa’s maddening approach to lowering inflation targets was confirmed yesterday. Global ratings agency Fitch indicated that it expects South Africa to announce a revised 3% inflation target during November’s medium-term budget policy statement (MTBPS), a senior analyst said on yesterday. Central bank Governor Lesetja Kganyago indicated earlier in October that the central bank and National Treasury had agreed the inflation target should be lowered but they were still discussing when to make the change. “It doesn’t mean that it will strictly be implemented immediately,” Thomas Garreau, Director for Middle East and Africa Sovereign Ratings at Fitch, said during a media briefing. The approach by the SA central bank has been to drive the bond yields lower rather than to lower interest that could help stimulate a moribund economy that has struggled to show any growth at all over the last two years.
Japan Trade Deficit Surprises Markets
In a surprising data reveal, Japan recorded an unexpected trade deficit of JPY 234.6 billion in September 2025, narrowing from JPY 306.1 billion a year earlier but missing market expectations for a surplus of JPY 22 billion. Exports rose 4.2% year-on-year to JPY 9,413.7 billion, the first increase since April and the fastest growth since February, supported by a weaker yen and a new U.S. trade deal easing tariffs on Japanese goods. Meanwhile, imports increased 3.3% to an eight-month high of JPY 9,648.3 billion, the first gain in three months and well above the expected 0.6% rise. This represented the strongest pace of purchases since January, driven by Tokyo’s measures to stimulate consumption, including fuel subsidies and utility rebates.
The Japanese yen traded around 151.7 per dollar this morning after a sharp fall in the previous session following the election of Sanae Takaichi as prime minister. Markets expect the new leader to pursue an expansionary fiscal policy including higher government spending and possible consumption tax cuts. The Bank of Japan is also seen taking a cautious approach to further rate hikes,
Breaking News Shorts:
- Google announced on yesterday that Google its telecommunications service FI, is being upgraded with several new updates, including AI noise filters and RCS web messaging.The tech giant says calls will now use AI-enhanced audio to reduce background noise and improve voice clarity.
- Chinese Indexes have seen a drop today with the Shanghai Composite slipped 0.2% to around 3,910 while the Shenzhen Component fell 0.2% to 13,050, ending a two-day gain as persistent trade uncertainty weighed on sentiment. US President Trump said he expects to reach a favourable trade deal with China but warned that his planned meeting with President Xi Jinping may not take place.
- China’s urban youth unemployment rate for 16- to 24-year-olds, declined to 17.7% in September, down from August’s 18.9%, which was the highest level since December 2023. This marked the lowest level since June, when industrial production expanded by 6.5% year-on-year in September
- India and the U.S. are close to finalizing a long-stalled trade deal that would cut U.S. tariffs on Indian imports from 50% to 15–16%, India’s Mint reported. The agreement, centered on energy and agriculture, may see India gradually lower Russian crude oil imports.
- Gold prices have stabilised at around $4,120 per ounce today, after a sharp drop of over 5% in yesterday’s trading session, the steepest since 2021. The metal came under pressure as traders locked in gains from recent record-breaking rallies, while seeing improving risk appetite in the market.
- Platinum fell below $1,520 an ounce, as investors paused to consolidate gains after the metal surged to a 14-year high of $1,744 on October 16. Platinum prices have surged nearly 70% in this year, driven by persistent US-China trade tensions,
Markets by Numbers
Currency markets indicate the US dollar flat, with the Euro trading against the US dollar at 1.16133 while the Pound is trading at 1.33840 to the US dollar. The Yen is currently trading at 151.73 to the dollar. The rand (ZAR) is currently at R17.37 to the US dollar.
Commodities:
- Gold futures prices are slightly stronger this morning, after a big drop in prices yesterday, and are currently trading around $4141.54 per ounce.
- Copper prices have gained traction earlier today, with prices currently around $4.9252
- Silver futures prices are trading upwards after a dip yesterday, and currently trading around $48.980
- Platinum futures are gaining traction this morning after a steep drop yesterday, and currently trading at $1519.60, While Palladium prices have gained over 2% this morning also after a steep drop yesterday, and are currently trading around $1423.00 per ounce.
- Brent crude oil prices have seen a 1.7% spike today, and currently at $62.39 with WTI trading lower at $58.29
- Cocoa futures are gaining traction today, and currently trading around $544 per ton.
- Coffee futures have made further gains today, and are currently trading at around $4.1494 per pound
Crypto Currencies:
- Bitcoin prices have dropped further today, and currently trading at around $108221 per coin
- Ether prices have seen a drop of over -0,5% today, and are currently trading around the $3856.01 mark
- $Trumpcoin is trending upwards today, after a big drop yesterday, and currently trading around $5.807
(All prices quoted at approximately 07H25 Central African Time)
Africa News Briefs:
- Train Disaster In Ethiopia: Passengers jumped from carriages in a train crash that killed 15 people with dozens more injured in eastern Ethiopia according to reports.The train derailed on Monday night in the town of Shinile, before colliding with a separate, stationary train, local broadcaster Dire TV reported.
- Madagascar’s New Leader Under Pressure: The leaders of Madagascar’s Gen Z movement, whose protests helped topple President Andry Rajoelina, say they disapprove of businessman Herintsalama Rajaonarivelo appointment as his prime minister as this was done in a non transparent manner without consultation from newly appointed Leader Col Michael Randrianirina.
- A fuel tanker overturned and exploded in Nigeria’s northern Niger state on Tuesday, killing at least 35 people, the Federal Road Safety Corps said.The vehicle skidded off the road and spilled petrol, which ignited shortly after the crash,
- South Africa’s Democratic Alliance has taken aim at the country’s Black economic empowerment laws, The DA, said it will introduce an Economic Inclusion for All Bill to replace BEE legislation, as it had become a vehicle for state-sponsored corruption, theft and fraud.
