Business & Tech News
Google Launches Experimental AI Search Engine
Google has launched an experimental version of its search engine that completely utilises an AI-generated summary of search results. The new feature, available to subscribers of Google One AI Premium, can be accessed via the results page for any search query by clicking on a tab labelled “AI Mode” to the side of existing options like Images and Maps. Google search, currently displays AI Overviews, summaries that appear above regular search results and the normal hyperlinks to relevant webpages in more than 100 countries. Google also started adding advertisements to AI Overviews in May 2024. The majority of Alphabet’s $350 billion in 2024 revenue was predominantly from search-related advertising. However, with OpenAI adding search to its functions late last year, Google is facing its biggest challenge in a decade to its core business.
Logitech to Accelerate Share Buyback:
International Computer parts manufacturer, Logitech has announced plans to initiate a massive share buy-back program, to the value of $2 billion (US dollars). The buyback will be conducted over the next three years, and will increase its current buyback program by $600 million. The Swiss- American corporation, provided an updated forecast for their fiscal year 2026 indicating an expected sales range from $4.53 billion to $4.71 billion. The company, had previously said it expected its 2025 sales to grow by 5.4% to 6.4% to reach $4.54 to $4.57 billion. Logitech announced the figures at its investor information day in San Jose, California, where it said that it aims for long-term annual sales growth of 7% to 10%, with a non-GAAP gross margin above 40% and operating margin of 15% to 18%.
Gold Keeps Climbing:
Gold briefly hit $2925 in trade this morning and is currently hovering above the $2,920 per ounce level. The higher prices seen this week, (up 1,48%) has been supported by a weaker US dollar and safe-haven investment demand amid US trade policy uncertainties. President Donald Trump has temporarily exempted automaker parts, imported from Canada and Mexico, from his 25% tariffs for one month, and has signalled openness to further adjustments. A US official also suggested Trump may remove the 10% tariff on Canadian energy imports that meet trade agreement rules. However, fresh US tariffs on Canada, Mexico, and China have triggered retaliatory measures, and China has filed a revised WTO consultation request over the levies. The yellow metal is up by over 11% in price since the beginning of January 2025.
Crypto Claws Back Losses:
Bitcoin and Ether are trading at higher prices in rigorous trade numbers today with Bitcoin up by over 2% this morning while Ether is up by over 3%. However, both crypto coins are still down year-to-date with Ether down a massive 30,58% so far this year. Bitcoin is up by 37% year-on Year, however Ether has lost over 40% of its value from a year ago. Trade in smaller coins such as Litecoin – up over 5% today, and Monero and Chainlink that are both up by over 4% today is indicating a general surge in coin trade.
Markets by Numbers
Currencies:
Currency markets are indicating a softer dollar, with the US Dollar currently at 1.08144 against the Euro, and at 1.29082 against the Pound, and at 148.85 Yen to the dollar currently. The rand has strengthened further against a weaker Dollar, and is trading at R18.28 against the dollar currently.
Commodities:
- Gold prices have seen safe haven investments driving prices moving above the $2920 mark again, and trading at $2,921 currently.
- Copper is trading fairly flat after yesterday’s surge, and at 4.7557 currently.
- Silver has traded flat this morning, after good gains yesterday, and at 32.600 currently.
- Platinum prices are at $969.30 currently, while Palladium prices are slightly down today, and currently trading at $940.50
- Brent Crude Oil prices have hit multi-year lows and is trading at $69, 55 currently, with WTI also trading lower at $66.52 currently.
- Cocoa futures have seen a -3% drop this morning, with prices currently at $7998 per ton.
- Coffee prices have remained buoyant, and trading upwards today at $413.34 currently.
Crypto Currencies:
- Bitcoin has gained further upward pressure gaining 2% today, with the coin currently trading at $92301.
- Ether prices have also moved upwards in trade today, and at $2300.70 currently.
- $Trumpcoin has seen an upward movement today, and currently trading at $12.79
(All prices quoted at approximately 08H20 – Central African Time)
Other News in Africa Today
ANC Party Fails to Pay Staff
According to a report by Sunday World, ANC staff were still not sure about when they would receive their salaries for February. This is not the first time that this has happened and the ANC would seem to have run out of money once more. The treasurer general of the ANC, Dr Gwen Ramokgopa, has not made any announcements yet about when the salaries might be paid, creating high levels of unhappiness at their head office, Luthuli House in Johannesburg.
Staff had previously gone on strike in 2022 when salaries had not been paid, and just months prior to the 2024 National elections there was talk of lack of funds and salaries been paid late. This was suddenly resolved after Naledi Pandor, the then minister of foreign affairs, visited Iran and there has been widespread speculation that Iran paid the ANC to bring the genocide charges against Israel at the ICC. There have also been reports of ANC suppliers and service providers not being paid, with the prospect of the ANC being declared bankrupt, according to a senior ANC official.
South Sudan Opposition Members Arrested:
Security forces in South Sudan have arrested the minister of oil, together with an army general, who are both senior members of Sudan’s main opposition party. The action has built concerns that the peace deal that ended the civil war may be under threat. Gen Gabriel Doup Lam and Puot Kang Chol, high-ranking figures of the Sudan People’s Liberation Movement in Opposition (SPLM-IO), are both allies of Vice-President Riek Machar, a rival of President Salva Kiir.
The military spokesperson Col Lam Gabriel Paul said that the government had given no reasons for the arrests. Machar’s spokesperson Pal Mai Deng told the AFP news agency Gen Lam’s arrest “violates” the peace act. “This act puts the entire agreement at risk,” he said. He called on the international community to intervene.
