Anglo American CEO Duncan Wanblad speaks during the Investing in African Mining Indaba 2023 conference in Cape Town, South Africa, February 6, 2023.
Image: REUTERS/Shelley Christians
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Asia stocks sweep to new highs, but oil slips on Gaza ceasefire deal
Asian stock markets scored fresh highs on Thursday as investors doubled down on all things AI-related, while gold held atop $4,000 and the dollar retained its recent hefty gains. Oil prices dipped as geopolitical tensions eased a little on news that Israel and Hamas had agreed to the first phase of a ceasefire plan to end the two-year conflict. U.S. President Donald Trump said he might travel to Egypt this weekend to discuss further steps in the deal. In equity markets, a resumption of the bull run in AI-related tech saw the S&P 500 and Nasdaq reach record highs as funds were again rewarded for buying the dips.
Musk's X settles ex-Twitter executives' $128 million severance pay lawsuit
Elon Musk and X Corp have reached a settlement in a lawsuit by four former top executives at Twitter, including former CEO Parag Agrawal, who claim they were not paid $128 million in promised severance pay after Musk acquired the social media company and fired them. The terms of the settlement, which were first announced in a filing in San Francisco federal court last week, were not disclosed. A federal judge on October 1 pushed back filing deadlines and a hearing in the case so the settlement can be finalised.
AI fintech Optasia eyes South African listing
Optasia, a fintech company partly owned by Ethos Capital, said that it planned to list on South Africa's Johannesburg Stock Exchange (JSE) and raise up to R6.3 billion by selling a combination of new and existing shares. The company, which operates AI-powered financial services in 38 countries, will raise about R1.3 billion in an initial public offering and also hold a private placement of at least R5 billion for existing shareholders, it said in a statement.
Anglo American still sees opportunity in Africa despite retrenchments
Anglo American still considers Africa to be part of its future due to its critical mineral resources, despite the mining company's recent restructuring and disposal of assets there, CEO Duncan Wanblad said. Anglo American has exited its coal and platinum operations in South Africa, the country where it was founded over a century ago, and is selling diamond miner De Beers, as it shifts its focus to copper, a vital metal in the clean energy transition.