Business & Tech News
Nintendo Switch2 Hits The Shelves
The Nintendo Switch 2 was released at midnight last night globally and has been eagerly awaited with many pre-ordering the popular gaming console. Reports indicate that UK retailer Currys, were calling it its “biggest gaming pre-order ever”, with over 30,000 units pre-sold. Nintendo had initially closed Switch 2 pre-orders in April due to supply chain concerns, before opening pre-orders in May. Selling at a price of around$100, the company is hoping that it will eclipse the 150 million units of the original Switch Console sold since its launch in 2017
AI Venture Capital Concentrated in US Investments:
With the global surge in AI developments, the US has become the key focus for Venture Capital (VC) investments in 2025. A Pitchbook report has revealed that between February and May of this year, VCs poured $69.7 billion into North America-based AI and machine learning startups covering 1,528 deals. In comparison, there was $6.4 billion that VC firms invested in European AI ventures spanning 742 deals for the same period. Startups in Asia have seen even less VC investment between February and May, with only just $3 billion in Asia-based AI startups across 515 deals. AI investments have been concentrated in the Fintech and Healthcare sectors with Robotics and healthcare seen as key growth areas going forward. Africa has been at the loosing end of VC funding in 2025 with only $3 billion expected to be invested for the full year.
Japan Hopeful For Moon Landing
A private lunar lander named the Resilience, from Japan is closing in on the moon, and will be aiming for a touchdown on the unexplored far northern area of the moon with a mini rover. The moon landing attempt is being conducted by Tokyo-based company ispace who expects a Friday landing time (Japan time). This is the latest entry in the rapidly expanding commercial lunar rush. The event comes two years after the company’s first moonshot ended in a crash landing, giving rise to the name Resilience for its successor lander.
Business, Tech & Market News Shorts:
- Reddit is suing Anthropic AI in a claim that Anthroopic had “scrapped” user comments from its platform to train its Claude Chatbot. Anthropic said in a statement that it disagreed with Reddit’s claims “and will defend ourselves vigorously.” Reddit filed the lawsuit Wednesday in California Superior Court in San Francisco, where both companies are based.
- Japan’s 10-year government bond yield fell to around 1.48% on Thursday, driven by concerns over the country’s economic outlook after April’s wage data indicated real decline for the fourth consecutive month. Persistently high inflation continues to outpace wage growth, lowering household purchasing power bringing the potential forJapan’s recovery prospects into question.
- The Caixin China General Composite PMI dropped to 49.6 in May 2025 from 51.1 in the previous month, signaling the first contraction in private sector activity since December 2022. A big decline in manufacturing dragged the overall index down. New orders contracted again, with foreign demand remaining weak.
Markets by Numbers
Currencies:
Currency markets indicate the US Dollar is currently trading against the Euro at 1.14150 and against the Pound at 1.35540. The Yen is currently at 143.09 to the dollar, with the rand currently at R17.83 to the US dollar.
Commodities:
- Gold futures prices are trending lower this morning, and are currently at $3367 per ounce.
- Copper prices are also trending slightly upwards this morning and are currently at $4.8756.
- Silver futures prices are trading lower this morning and are currently at $34.496
- Platinum futures are trading upwards this morning, and are currently trading at $1086.60, while Palladium prices are currently at $987
- Brent crude oil prices are currently at $64.87, with WTI trading at $62.73
- Cocoa futures are trading upwards this morning and are currently at $9804 per ton.
- Coffee futures prices are down almost –1% today, and are currently at $345.47
Crypto Currencies:
- Bitcoin prices are currently trading lower and currently at $104599
- Ether prices are up currently at $2610
- $Trumpcoin is trading at $11.21
(All prices quoted at approximately 08H20 – Central African Time)
Other Breaking News in Africa Today
Nigerian Army Wants Border Wall
Nigeria’s newly installed Chief of Defence, General Christopher Musa, yesterday called for the country’s borders with its four neighbours to be completely fenced off in order to curb the entrance of armed insurgent groups amid escalating attacks on its population, predominantly by Islamic groups. Nigeria’s military has been strained by widespread security issues, particularly in the northeast led by Islamist militant group Boko Haram and its offshoot Islamic State West Africa Province. Security forces and civilians have been attacked and killed and tens of thousands of people have been displaced.
Libyan Mass Graves Discovered
The United Nations rights office called on Wednesday for an independent investigation into the discovery of mass graves at detention centres in Libya’s capital Tripoli. The High Commissioner for Human Rights at the UN said it was “shocked” by gross human rights violations uncovered at official and unofficial detention facilities run by the Stability Support Apparatus, a security institution. The High Commissioner, said the discovery of dozens of bodies and suspected instruments of torture and abuse confirmed longstanding findings by the U.N. that human rights violations were committed at such sites.
