Business News Today
World’s Biggest Nuclear Plant to be Re-started
Japan has advanced the last protocol steps to begin bringing its Kashiwazaki-Kariwa nuclear plant back online this morning. The reactor, is the largest nuclear power plant globally, and is set to resume operations – a watershed moment in the country’s return to nuclear energy almost 15 years after the Fukushima nuclear disaster. Kashiwazaki-Kariwa, located about 220 km northwest of Tokyo, was among 54 reactors shut down by the Japanese government, after a 2011 earthquake and tsunami destroyed the Fukushima Daiichi plant in the worst nuclear disaster since Russia’s Chernobyl incident. On Monday, Niigata prefecture’s assembly passed a vote of confidence on Niigata Governor Hideyo Hanazumi, who had supported the restart last month, effectively allowing for the plant to begin operations again.
African Economies Under Strain
Recent reports of budget deficits and economic slow down on the African continent, may be worrying early signs of a continental economic growth slow-down. On Friday Nigeria announced it was anticipating a budget deficit of 4.28% on GDP (gross domestic product) for the 2026 year, while President Bola Tinubu said the government’s 58.18 trillion naira ($40 billion) spending plan was aimed at consolidating economic reforms and boosting economic growth. Botswana’s government has forecast an economic contraction of almost 1% for the full 2025 year as its key diamond sector continues to struggle. This was according to the finance minister in his budget review on Friday.
Other Major economies such as Egypt and South Africa, are battling to get their GDP growth above 1% for the current year and while overall projections for growth remain positive for 2026, the impact of US tariffs and growing conflicts as well as major domestic crests following several disputed elections across the continent paint a concerning landscape.
Gold, Silver and Platinum – Shining at New High Levels
Gold prices have climbed to an all-time high of $4,403 per ounce in trade this morning. The ever climbing price of the yellow metal is being driven by expectations of further US interest rate cuts and escalating geopolitical tensions. Silver climbed more than 3% to above $69 per ounce, reaching a new record high as well. Markets are currently pricing in two additional rate cuts by the Federal Reserve in 2026, following softer-than-expected US inflation data last week. On the geopolitical front, the US is reportedly monitoring another vessel near Venezuela after having seized two tankers this month, while Ukraine struck a Russian tanker in the Mediterranean Sea for the first time.
Gold Bullion has surged more than 67% so far this year, and is tracking its best year since 1979. The rally is also supported by ongoing central bank buying and sustained ETF inflows. In further good news for African Miners, Platinum has also spiked to above the $2080 level hitting a new all time high this morning.
Breaking News Shorts:
- The European Commission, has done an about-turn on their ambitious plan to ban the sale of gas-powered cars by 2035. The requirement to have 100% of new cars zero-emission vehicles will now, allow 10% of new car sales to be hybrids or other vehicles as long as manufacturers purchase carbon offsets to compensate.
- The Shanghai Composite rose 0.6% to around 3,915, while the Shenzhen Component climbed 1.1% to 13,288 today, with mainland stocks extending a four-session rally to reach a two-week high after the central bank left key lending rates unchanged. The People’s Bank of China kept its one-year Loan Prime Rate at 3.0% and the five-year LPR at 3.5%, holding both at record lows for the seventh consecutive month.
- Silver Futures surged by more than 3% to above $69 per ounce in early trade this morning, reaching a new record high. This was driven by expectations of further Federal Reserve rate cuts and escalating geopolitical tensions. Recent US data point to moderating inflation and a softer labor market, giving the Fed more scope to ease policy
- Japan’s Nikkei 225 Index climbed 1.92% to 50,453 today, comfortably surpassing the 50,000-point mark, tracking Friday’s strong performance on Wall Street. The rally on Wall Street was driven by robust technology earnings and easing concerns over a potential technology boom risk.
Markets by Numbers
Currency markets indicate the US dollar marginally weaker today, with the Euro trading against the US dollar at 1.17164 while the Pound is trading at 1.33977 to the US dollar. The Yen is currently trading at 157.32 to the dollar. The rand (ZAR) is currently trading against the dollar at around R16.72.
Commodities:
- Gold futures has surged today, up 1.4%, and are currently trading around $4403 per ounce.
- Copper prices are trending upwards today, with prices currently around $5.4317
- Silver futures have spiked upwards, by 2.8%, and currently trading around $69.005
- Platinum futures have jumped to new highs today, with prices up almost 4% this morning alone, and currently trading at $2085.70, While Palladium prices have surged by almost 4% this morning, , and currently trading around $1837.50 per ounce.
- Brent crude oil prices are trending upwards today on supply concerns, and currently at $61.06 with WTI trading at $57.09
- Cocoa futures are slightly higher today, and currently trading around $5850 per ton.
- Coffee futures are currently trading at around $3.4121 per pound
Crypto Currencies:
- Bitcoin prices are up by 0.2% this morning, and trading at around $88804 per coin currently
- Ether prices are surging this morning – up over 0.7%, and are currently trading around $3025.47
- $Trumpcoin are trending lower today, and currently trading around $5.030
(All prices quoted at approximately 08H25 Central African Time)
Africa News Briefs:
- A police manhunt is under way after a mass shooting at a tavern in South Africa in the early hours of Sunday morning, left nine people dead and another 10 injured. Police said seven men and two women were killed in Bekkersdal, near Johannesburg, after approximately 12 unidentified gunmen in two vehicles, arrived at the location and opened fire at patrons. According to statements, the perpetrators “continued to shoot randomly as [people] fled the scene”, police added. South Africa has one of the highest murder rates in the world. Sixty-three people were killed every day on average between April and September this year, according to police figures.
- According to a statement on X by Bayo Onanuga, special adviser to Nigerian President Tinubu, the remaining 130 schoolchildren abducted by terrorists at St Mary’s Catholic School in Papiri, Niger State, on November 21, have been released. They are expected to arrive in Minna today and rejoin their parents for the Christmas celebration. One hundred were released earlier by the terrorists, taking the total of freed students to 230. The freedom of the schoolchildren followed a military-intelligence driven operation according to Onanuga.
