Spiro raised an additional $55 million from NewTrails Capital, bringing its latest funding round to $270 million as the electric motorcycle and battery-swapping company expands across Africa. The investment follows a $215 million equity raise announced earlier this month. Spiro’s total disclosed funding now stands at about $557 million, making it one of Africa’s most…
Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. Elke Scholiers | Getty Images Oil extended declines on Friday as investors monitored developments in the Middle East conflict while assessing whether recent diplomatic efforts would reduce the risk of supply chain disruptions. International benchmark Brent crude futures for August…
Consumer sentiment has tumbled to a fresh record low in May as fears of higher prices grow due to the U.S.-Iran war and elevated oil prices, the University of Michigan’s Surveys of Consumers said Friday. The index of consumer sentiment fell to 44.8 from a preliminary reading of 48.2. It’s also well below the 49.8…
U.S.-Israeli attacks launched previously during negotiations with Iran have led to a complete loss of trust in the United States, Iran’s president Masoud Pezeshkian said Thursday, according to Mizan News, the news agency of Iran’s powerful judiciary branch. In a phone call with Belarusian president Alexander Lukashenko, a close ally of Russia’s Vladimir Putin, Pezeshkian…
The inspiration section of Bizmag continues to spotlight entrepreneurs who are quietly transforming communities and driving economic growth across South Africa. Among them is Nokuthula Makhubedu, founder of NM Farm Fresh — a business that has grown from selling live chickens at a local market 9 years ago, into a fully operational factory and abattoir…
Adobe’s head office in San Jose, California The Competition and Markets Authority (CMA) — the UK equivalent of South Africa’s Competition Commission — has launched a formal investigation into Adobe over concerns that early cancellation fees on its subscription plans may breach consumer protection law. The investigation will examine whether terms attached to Adobe’s “annual…
Trowbridge in Somerset, England, on March 15, 2025. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday posted fourth-quarter profit in line with expectations, shortly after crude prices dipped below $60 a barrel for the first time in nearly five years. The London-listed energy firm reported underlying replacement cost…
JSE-listed IT services group iOCO has repurchased a further 2.18 million of its own shares, continuing a buyback programme launched last year. In a voluntary statement published on Friday, iOCO — previously EOH Holdings — said the shares were bought between 2 and 29 January 2026 at prices ranging from R4.31 to R4.65, for a…
Gold and silver have rallied this year — and prices keep climbing. Gold futures for February delivery rose settled 0.8% higher at $4,505.7, after hitting a record of $4,530.80 per ounce. Spot gold was up 1.03% to $4,491.23 per ounce. Meanwhile silver futures for March advanced 4.46% and was last seen at $71.62 per ounce, while spot silver was last trading…
The acquisition by Netflix of big chunks of Warner Bros Discovery in a US$72-billion megadeal could hardly have come at a worse time for MultiChoice Group. Reuters reported that Netflix has agreed to buy Warner Bros Discovery’s TV and film studios and streaming division for $83-billion (including debt), a deal that would hand control of one…
