BizNews Briefing: ArcelorMittal; Mozambique unrest; TikTok US sale; WEF preview

In today's BizNews Briefing, Rob Hersov and Gerhard Papenfus discuss the intricacies of the ArcelorMittal tragedy and what it means for South Africa with a focus on Newcastle (KZN); Tertius Jacobs offers insight into the economic impact of the political unrest in Mozambique; Beijing hopes to sell TikTok USA to Elon Musk; and a World Economic Forum preview reveals that Trump will not physically attend this year's event..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..The seventh BizNews Conference, BNC#7, is to be held in Hermanus from March 11 to 13, 2025. The 2025 BizNews Conference is designed to provide an excellent opportunity for members of the BizNews community to interact directly with the keynote speakers, old (and new) friends from previous BNC events – and to interact with members of the BizNews team. Register for BNC#7 here..If you prefer WhatsApp for updates, sign up to the BizNews channel here.Watch here.Listen here.BizNews Reporter ___STEADY_PAYWALL___.BizNews Briefing Highlights.1. Top Story – Steel Plant ClosuresAlec Hogg previewed an exclusive BizNews YouTube interview with Rob Hersov and Gerard Papenfus, head of the National Employers Association of South Africa. The discussion focused on ArcelorMittal's decision to close its Newcastle and Vereeniging steel plants, marking a major blow to South Africa's steel industry and local economies. The segment promises an in-depth look at the causes and implications of this industrial crisis..2. Mozambique UnrestChris Steyn interviewed Tertius Jacobs about escalating unrest in Mozambique following disputed elections. The instability threatens to derail progress in one of the world's poorest nations, creating concerns along South Africa's northeastern border..3. Preview of the World Economic Forum (WEF)Alec Hogg shared insights ahead of his 19th trip to Davos, Switzerland, for the WEF. This year's forum gathers 3,000 participants, including 350 government leaders and 1,600 business executives. Highlights include the South African delegation led by President Cyril Ramaphosa and the presence of figures from the Government of National Unity. Star attractions include David Beckham, receiving the Crystal Award, and a virtual appearance by Donald Trump..4. Spotlight on Elon Musk and TikTokBloomberg reported that Beijing is considering selling TikTok's U.S. operations to Elon Musk, underscoring Musk's growing influence in China, where many Tesla vehicles are manufactured..5. Market Update.JSE Performance: South African stocks were mixed, with resources down 0.5%, but the Top 40 Index slightly firmer. Bitcoin rebounded by 2.25% to $96,000.Standout Stocks: MTN surged 10%, Vodacom rose 4%, and Reinet Investments climbed 6% after announcing its sale of British American Tobacco (BAT) shares.Notable Declines: Baldwin Properties (-5%), ATTACQ (-3.3%), and Etiltile (-3%)..6. Reinet Investments Exits BATReinet Investments announced it will sell its 2% stake in BAT, marking the Rupert family's departure from tobacco investments. The sale, valued at R28 billion, provides funds for reinvestment in the South African economy..Read also:.BizNews Briefing: Steenhuisen v/s Trollip; Alcock on Spaza poisoned food; Bacher on 2025 outlook🔒 Chinese officials consider sale of TikTok US to Elon Musk as one possible option🔒 RW Johnson: America's Muskification of the State – Desperate remedy for a desperate problem

BizNews Briefing: ArcelorMittal; Mozambique unrest; TikTok US sale; WEF preview

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