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FINANCE

Stay informed with the latest updates from South Africa and around the world. Our news section covers a wide range of topics including politics, social issues, crime, environment, global affairs, and human interest stories.

Rand weakens ahead of unemployment data

SA Rand weakened in early trade on Tuesday

Ireland opens probe into Musk’s Grok AI over sexualised images

Ireland’s Data Protection Commission (DPC) it had opened a formal investigation into X’s AI chatbot Grok over the processing of personal data and its potential to produce harmful sexualised images and video, including of children

SA power utility loses $440 million to electricity theft in as suspects appear in court

Hyatt Executive Chairperson steps down, cites ‘terrible judgment’ in Epstein ties

Thomas Pritzker said on Monday he stepped down as Executive Chairperson of Hyatt Hotels, acknowledging “terrible judgment” in maintaining contact with convicted sex offender Jeffrey Epstein and Ghislaine Maxwell

Luxury stocks’ volatility highlights AI jitters, hedge fund positioning

As luxury companies like LVMH and Gucci-owner Kering struggle to recover from a two-year slowdown, they are navigating increasingly sharp share price swings stoked by hedge fund bets and investor nerves over AI-rattled markets

AfDB approves S11.84 million trade finance guarantee to boost DRC’s import capacity

The African Development Bank Group (AfDB) has approved a $11.84 million trade finance guarantee aimed at expanding Ecobank Congo’s ability to support trade flows across key sectors of the Democratic Republic of Congo’s (DRC) economy.