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Image: Reuters
Wake up to the shifts shaping the future.
From boardroom shakeups and billion-dollar bets to the latest tech breakthroughs rewriting the rules, The Company Brief is your front-row seat to the stories moving markets and mindsets.
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Gold crosses R69,000 for the first time, building on historic rally
Gold pushed through $4,000 (R69,004) an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federal Reserve. Spot gold was up 0.9% at $4,017.16 per ounce by 04:42 GMT. U.S. gold futures for December delivery gained 0.9% to $4,040 per ounce. Traditionally, gold is seen as a store of value during times of instability. As one of the best-performing assets of 2025, spot gold is up 53% year-to-date after rising 27% in 2024.
South Africa’s growth is expected to improve slightly - World Bank
South Africa’s economy is projected to grow modestly in 2025, supported by easing inflation and improving investor confidence, but structural weaknesses and persistent joblessness continue to weigh on the country’s recovery. This is according to the World Bank’s latest Africa’s Pulse report released on Tuesday, which provides economic analysis for Sub-Saharan Africa. The World Bank said gross domestic product (GDP) growth in South Africa was projected to accelerate from 0.5% in 2024 to 0.9% in 2025 and further speed up to an annual average rate of 1.2% in 2026–27.
Eskom employees look for a 15% wage increase
South Africa’s largest union at state-owned power utility Eskom is pushing for a wage hike of up to 15% as labour negotiations get underway, Bloomberg reports. The National Union of Mineworkers (NUM), which represents roughly 15,000 Eskom employees, has submitted its demands to the utility’s central bargaining forum, according to Khangela Baloyi, the union’s energy sector coordinator. The proposed increase is more than four times the country’s inflation rate, which stood at 3.3% in August. The push comes on the heels of Eskom’s first profit in eight years and improved grid stability following years of crippling blackouts. The utility, which has relied on billions in government bailouts, is also preparing to raise new debt as part of its financial turnaround strategy.