BN Briefing: Steenhuisen on Trump/ANC; DRC; Palantir; DeepSeek
In this episode, DA leader John Steenhuisen tells host Alec Hogg how SA's current crisis can become something positive; Donald Trump praises his South African wingman; The Economist explains why DeepSeek is a force for good; BizNews portfolio star Palantir jumps again making it a portfolio ten-bagger in two years; Rwanda says South African greed caused DRC war; Corion's Bacher cautions.
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BizNews Briefing Highlights ___STEADY_PAYWALL___
Trump targets South Africa
Donald Trump has recently turned his attention to South Africa, following similar criticisms of Colombia, Canada, and Mexico. This has raised concerns locally, especially given South Africa's differing stance from the U.S. and other major economies at the World Economic Forum. Democratic Alliance (DA) leader and Minister of Agriculture, John Steenhuisen, shared his perspective on how the DA can positively contribute amidst tensions between Trump and the ANC. His full interview is available on BizNewsTV.
Developments in the Democratic Republic of Congo
The M23 rebels, allegedly backed by Rwanda, have initiated a ceasefire. However, Rwandan President Paul Kagame has accused South Africans of exploiting the DRC's mineral resources, a long-standing rumor. The involvement of South African soldiers in the region remains a concern, with Bloomberg providing further insights into the situation.
China's AI disruptor DeepSeek
Chinese AI company DeepSeek has disrupted the market by offering capabilities similar to ChatGPT at a fraction of the cost. The Economist has analyzed the implications of this breakthrough, highlighting how AI is becoming more accessible globally, a promising development for South Africa's tech landscape.
Donald Trump praises Elon Musk
Trump recently commended Elon Musk's achievements, emphasizing the success of the South African-born entrepreneur in the U.S. Musk's influence on discussions about South Africa continues to grow.
Retail sector: Pick n Pay vs. Boxer
Pick n Pay continues to struggle, reporting like-for-like sales growth of only 1.6% for the ten months ending January 5. Meanwhile, Boxer, which was recently listed separately, saw stronger growth at 6.7%. Pick n Pay shares rose 4% on the news, with investors optimistic about CEO Sean Summers' turnaround strategy. Boxer shares also gained 1.5%.
ArcelorMittal faces steep losses
ArcelorMittal South Africa reported worsening losses, with headline earnings per share dropping from -R1.70 to -R4.00, a 140% decline. The company's stock has dropped 12% over the past five days, reflecting investor concerns.
Palantir's strong performance
In contrast, Palantir Technologies saw a 20% surge in after-hours trading following better-than-expected financial results. The company, chaired by Namibia-born Peter Thiel, remains a strong performer in the BizNews portfolios. Bloomberg provided an in-depth analysis of the earnings report.
Market outlook from David Bacher
Local fund manager David Bacher shared his insights on market trends for the upcoming month. As volatility continues, his analysis offers guidance for investors navigating uncertain economic conditions.
As Rudyard Kipling famously wrote, "If you can keep your head when all about you are losing theirs…"—words that remain relevant in today's global and economic landscape.
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