BN Daybreak Thurs 19 Mar: More market mayhem; Cy Jacobs, Rob Hersov; Prince Mashele; Saudi fretting

The Middle East is a powder keg. Following Israel’s latest airstrikes on Iranian targets, global stability appears to hang by a thread. Does this spell World War III? Or an opportunity for massive gains in commodities? In this episode of BizNews Daybreak, hedge fund heavyweight Cy Jacobs shares his contrarian strategy for profiting amid global chaos. We also hear from entrepreneur Rob Hersov on the “multi-polar” myth, Ahmed Al Omran on Saudi Arabia’s vulnerable oil wealth, and Prince Mashele with a blistering political plan to save South Africa from its own political demise. From global conflict to domestic turbulence, we break down what it all means for your money..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..Watch here.Listen here.BizNews Reporter.Geopolitical escalation and energy turmoilThe morning’s primary focus was the direct military confrontation between Israel, the US, and Iran. For the first time since the war began, the Israeli Air Force targeted northern Iran. This followed a joint US-Israeli strike on the South Pars LNG field, a massive facility shared by Iran and Qatar. The retaliation was swift:Qatar and Abu Dhabi: Iranian missiles targeted gas facilities in the Gulf, causing extensive damage to the world's largest LNG export plant in Qatar and halting operations in Abu Dhabi. Saudi Arabia: Major refineries and the Shebaa oil fields have come under sustained attack, threatening Crown Prince Mohammed bin Salman’s "Vision 2030" economic reforms which rely on regional stability. Oil Prices: Brent crude surged 3.8% to $107.38 a barrel, while West Texas Intermediate (WTI) climbed back above $100 following news of the Qatari strikes..President Trump, posting on Truth Social, claimed the US was unaware of the South Pars strike but warned Iran of direct US retaliation should Qatari LNG infrastructure be targeted again. Economic indicators and corporate shiftsThe Federal Reserve maintained interest rates, citing "increased uncertainty" due to the Middle Eastern conflict. Fed Chair Jerome Powell noted that American consumers are already feeling the pinch, with gas prices rising nearly a dollar per gallon. In the corporate sector, HSBC is reportedly considering cutting 20,000 jobs—roughly 10% of its workforce—as it pivots toward AI to manage middle and back-office functions. Meanwhile, Micron Technology highlighted a massive supply-demand gap for memory chips driven by the AI boom, suggesting supply might not catch up until 2028. The South African perspectiveLocal markets felt the global heat, with the rand weakening toward 16.94 to the US dollar. Investment heavyweight Prosus saw a 7.3% drop on the JSE, a delayed reaction to fears that high oil prices will cripple food delivery margins. Despite the gloom, Cy Jacobs of 36ONE Asset Management offered a contrarian view, predicting the US will emerge stronger and that the "multipolar fantasy" of BRICS is dying. Jacobs noted that while the US market has been "weaker" recently, its energy self-sufficiency provides a strategic edge over China. On the political front, analyst Prince Mashele delivered a scathing critique of the ANC's foreign policy, accusing the party of "geopolitical idiocy" by alienating Western allies. He proposed a "ten-point plan" to save the country, starting with the assembly of an ethical, highly educated, multiracial team of experts to "elbow out the scoundrels" currently in government.

BN Daybreak Thurs 19 Mar: More market mayhem; Cy Jacobs, Rob Hersov; Prince Mashele; Saudi fretting

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