Business News Today
Tesla To End Model S and Model X Production
Tesla is planning to end production of the Model S sedan and Model X SUV, CEO Elon Musk announced on Wednesday during the company’s quarterly earnings call. The global EV manufacturing giant will make the final versions of both electric vehicles next quarter, he said, adding that his company will offer support for existing Model S and Model X owners “for as long as people have the vehicles.” “It’s time to basically bring the Model S and X programs to an end with an honourable discharge, because we’re really moving into a future that is based on autonomy,” he said. “So if you’re interested in buying a Model S and X, now would be the time to order it.”
NERSA Approves Special Energy Tariff For Ferro-chrome Smelters
The National Energy Regulator of South Africa (NERSA) approved Eskom’s application to reduce electricity tariffs by approximately 35% (from R1.36 per kilowatt-hour to 87.74 cents per kWh) for two ferrochrome smelters, the Glencore-Merafe and Samancor smelters. This relief is temporary, lasting 12 months starting from January 2026, and is intended to prevent further closures and job losses in the sector. The approval is conditional on the South African government funding the revenue shortfall to Eskom, ensuring that standard tariff customers (like households and other businesses) do not bear the cost. This move follows Eskom’s December 2025 request and public hearings where industry stakeholders highlighted the risk of widespread shutdowns without intervention.
Bitcoin Exits From Major ETF’s Drive Prices Lower
Bitcoin fell over -2.5% to as low as $81,297 today 30 January, marking its lowest level since November 21, 2025, dragged down by a combination of sustained ETF outflows and subdued market sentiment. The Crypto currency is down by -7.5% in the last week and Year-on year is down more than -19%. Over five consecutive trading days, from January 20–26, Bitcoin spot ETFs recorded net outflows of $1.14 billion, the largest weekly exodus since early January. The outflows were heavily concentrated in Fidelity’s FBTC, Grayscale’s GBTC, BlackRock’s IBIT, and Ark 21Shares’ ARKB, which made up about 92% of total redemptions. Notably, BlackRock’s iShares Bitcoin Trust, the largest Bitcoin ETF and one of the most successful fund launches ever, has now fallen behind the firm’s Gold ETF in total assets. Moreover, market sentiment continues to remain subdued amid geopolitical uncertainties
Angola’s Planned $1.7 Billion Bond Issuance
Angola’s government has announced plans to raise approximately $1.7 billion through an international bond issuance in 2026, marking its return to global capital markets after a hiatus since 2021. This move is part of a broader annual debt plan to secure $16 billion in additional financing amid persistent fiscal pressures.The funds aim to stabilize public finances, meet debt-service obligations, and support economic development and social projects in Africa’s third-largest oil producer. Specifically, the issuance will help cover budget gaps exacerbated by sluggish growth, high borrowing costs, and oil revenue volatility. It complements other initiatives, including a $1.4 billion debt-for-health swap to reduce costs and fund healthcare, plus $500 million in World Bank budget support.
The decision to issue bonds now stems from mounting debt burdens—despite a projected drop in debt-to-GDP to 45% after economic rebasing, and the need to diversify funding sources beyond bilateral creditors and export agencies. Angola joins other African nations like Kenya in tapping markets as global conditions improve, though risks from currency fluctuations remain.
Breaking News Shorts:
- SpaceX, xAI, and Tesla, are reportedly in play for a potential merger. While the talks appear to be in the early stage, according to reports from Bloomberg and Reuters, it could eventually lead to at least one company folding into SpaceX. A merger between SpaceX and xAI could take place ahead of a planned SpaceX IPO this year.
- US Stocks slumped while the dollar and bond yields shot up this morning, after Donald Trump said he has firmed his choice for new Federal Reserve Bank Head, with reports identifying in Kevin Warsh, a former Fed Governor, as the likely pick. Warsh, is seen as an advocate of lower interest rates, and is also considered to be one of the less radical choices for the position.
- India’s BSE Sensex fell 403 points, or 0.5%, to 82,163 in morning trade today, erasing gains from the previous three sessions, as traders remained cautious ahead of this weekend’s Union Budget. Persistent foreign outflows further pressured market sentiment, along with higher oil prices, which fueled concerns over domestic inflation,
- Precious Metal prices dropped across the spectrum in trade today with Platinum, Gold and Silver futures dropping over -4%. After a record bull run on these metals it is mostly profit taking affecting the sell-off. Gold and Silver are still set for a weekly gain and all three metals are set for a monthly gain of over 20% in January.
- Copper futures fell by more than -3% to around $6 per pound today, reversing a sharp rally from the previous session amid a broad retreat across the metals complex. Investors locked in profits after copper, gold, silver, and other metals surged to record levels, while a nascent rebound in the dollar added further pressure.
Markets by Numbers
Currency markets indicate the US dollar strengthening today, with the Greenback trading against the Euro at 1.19278 while trading against the Pound at 1.37577 to the US dollar. The Yen is currently trading at 153.96 to the dollar. The rand (ZAR) is currently trading at around R15.81 to the dollar.
Commodities:
- Gold futures have fallen by -4.3% this morning, and currently trading at around $5208 per ounce.
- Copper prices have slid by over -2.5% today, with prices currently around $60.410 per pound
- Silver futures have dropped by around -4% today, and currently trading around $111.29 per ounce.
- Platinum futures are down by almost -5% this morning, currently trading at $2495.00, While Palladium prices have dipped by around -4.1% this morning, and currently trading around $1933.50 per ounce.
- Brent crude oil prices are trending lower today, and currently at $68.49 with WTI trading lower at $64.85
- Cocoa futures are marginally higher today, and currently trading around $4177 per ton.
- Coffee futures are currently trending fairly flat today, and trading at around $3.451 per pound
Crypto Currencies:
- Bitcoin prices are trending -2% lower this morning, and trading at around $82850 per coin currently
- Ether prices are trending over -2.6% lower, and are currently trading around $2743.54
- $Trumpcoin are trending lower today, and currently trading around $4.544
(All prices quoted at approximately 07H15 Central African Time)
Africa News Briefs:
- Ivory Coast’s Coffee and Cocoa council has launched its initiative to buy beans so producers can get paid. Cocoa stocks have been piling up in co operatives in the country, with several factors leading to a crisis in the sector. The situation has bee exacerbated by logistics challenges in the ports, with late cocoa cargo ship arrivals, and an associated liquidity problem. These two factors combined have led to a slowdown in commercialisation within the country.”
- Burkina Faso’s military-led government has dissolved all political parties and scrapped the legal framework governing their operations, according to a decree approved by the West African nation’s council of ministers on Thursday. The decision by the military rulers who seized power in September 2022 is the latest move to tighten control following the suspension of political activities after the coup. Burkina Faso’s Interior Minister Emile Zerbo said the decision was part of a broader effort to “rebuild the state” after what he said was widespread abuses and dysfunction in the country’s multiparty system. He said a government review found that the multiplication of political parties had fuelled divisions and weakened social cohesion
