Tonight’s BizNews Briefing dives into global tensions as Biden greenlights Ukraine’s use of US missiles against Russia, raising concerns about World War III. Also featured: WeBuyCars’ strong results, Clem Sunter’s war scenarios, NASPERS’ trading update, and the impact of food safety regulations on township businesses. Plus, get insights on PPC’s progress and Neil de Beer’s take on ANC dynamics.
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Summarized transcript of the Briefing:
Bronwyn opens the BizNews briefing by outlining a packed agenda for the evening, including discussions on major geopolitical events, company financial results, and South African economic challenges.
Key Topics Covered:
- US-Ukraine Conflict & World War III Concerns
- President Biden has authorized the supply of long-range US missiles to Ukraine for potential strikes on Russian territory. This decision has raised questions about escalating global tensions.
- Clem Sunter, a renowned scenario planner, suggests a 10-20% probability of World War III due to this development.
- We Buy Cars – Full Year Results
- The company, which listed on the Johannesburg Stock Exchange on 15th April, reported robust full-year results. Despite a slight dip in stock prices today, We Buy Cars maintains a solid 10% market share in the second-hand vehicle market.
- CEO Faan van der Walt shared insights into the company’s performance, highlighting strong growth.
- Naspers & Prosus – Trading Update
- Naspers and its subsidiary Prosus released a trading update, showing continued growth, particularly in e-commerce. Naspers closed 0.75% higher, while Prosus was slightly down by 0.25%.
- Arthur Buchner from Courtney Capital provided analysis on the companies’ future outlook.
- PPC Interim Results
- Cement company PPC posted a minor gain of 0.25% following its interim results, signaling progress in its turnaround strategy. Full-year earnings are eagerly anticipated as the company continues to focus on restructuring.
- Food Safety & Township Economy Impact
- President Cyril Ramaphosa’s recent address on food-borne illnesses has led to stricter regulations for spaza shops and informal traders, who now have 21 days to register with municipalities. Increased inspections by the military and SAPS are expected.
- Gigi Alcock, author of KasiNomics, shared his views on the implications for the township economy, emphasizing the challenges faced by informal traders.
- ANC Insights – Matthews Phosa’s Book
- In a conversation with Neil de Beer, leader of the United Independent Movement, Bronwyn discussed Matthews Phosa’s new book and its critique of the ANC. Neil offered candid commentary on Phosa’s insights.
- Rumors on Elon Musk & US Politics
- A curious claim was explored regarding Elon Musk’s potential influence in US politics, suggesting he could be acting as a “co-president” alongside Donald Trump. This was discussed in an interview with retired intelligence officer Colonel Chris Wyatt.
Market Overview
- US Markets: The S&P 500 and Nasdaq showed positive movements, with Bitcoin holding above $90,000. The Dow Jones was slightly down.
- SA Markets: The JSE Top 40 rose by 0.66%, driven by gains in resources (+1.7%), industrials (+1.5%), and financials.
- The Rand was trading at 18.04 to the Dollar and 22.79 to the Pound.
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