Major International Business Headlines Brief::: 25 February 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  25 February 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: FG Spends U.S. $8 Billion to Stabilise Naira

ü  Africa: Malawi, Africa Hit Hard - Three Years of Ukraine Invasion

ü  Liberia: Ethiopian Airlines Aborts Landing At Roberts International
Airport Due to Thick Smoke From Nearby Farm Fires

ü  Uganda: Shs1.82trillion Lost to Economic Crimes in 2024-Police

ü  Kenya: Court Dismisses Equity Bank's Appeal On Compensation of Three
Ex-Employees

ü  Liberia: Agriculture Minister Tours EU-Funded Cassava Breeder Seed Garden
At Cari

ü  Kenya: SMEs in Kenya Loss 60pc Revenue Due to Poor Branding

ü  Uganda Breweries Donates Investments Worth Shs30m to Empower Luzira Youth
and Women

ü  Major Asia bank to cut 4,000 roles as AI replaces humans

ü  Apple commits to $500bn US investment

ü  Starbucks cuts English breakfast latte in menu shake-up

ü  Federal workers left confused as Musk doubles down on threat

ü  Why is Ukraine negotiating a minerals deal with the US?

 


 <mailto:info at bulls.co.zw> 

 


 

Nigeria: FG Spends U.S. $8 Billion to Stabilise Naira

The federal government has spent about $8 billion to stabilise the exchange
rate of the Naira to the US dollar at its current levels.

 

Managing director/CEO of Lagos-based Financial Derivatives Company, Bismarck
Rewane, who revealed this, attributed the steady appreciation of the naira
was as to this intervention by the Central Bank Nigeria (CBN)

 

Rewane made this known during a presentation on Channels Television which
comes against the backdrop of the monetary policy committee meeting.

 

The economist warned that the quick appreciation of the naira is "temporary"
and should be treated with caution, advising Nigerian policymakers not to be
"carried away".

 

"We're seeing that the naira is strengthening but with caution. Let's not be
too hasty because it's going to correct itself," Rewane said.

 

"There are many things that are happening: reserves of over $40 billion are
coming down. We've also borrowed $4 billion in bond issues. When you look at
all of that, we've almost spent $8 billion to support the naira at the
current levels," he revealed.

 

 

But the naira maintained stability across foreign exchange (FX) markets
despite steady decline in external reserves.

 

Data from the Central Bank of Nigeria (CBN) showed that the naira
appreciated to N1,502.50 per dollar week-on-week, gaining 0.56 per cent or
N8.50 compared to N1,511/$ closed the previous week at the Nigerian Foreign
Exchange Market (NFEM).

 

Authorised currency dealers quoted the dollar at the highest rate of N1,509
on Friday, stronger than N1,520 last week Friday.

 

The market recorded the lowest rate of N1,491 per dollar on Friday as
against N1,500 last week at NFEM.

 

At the parallel market, popularly called black market, the naira appreciated
by N45, gaining 2.0 per cent as the dollar quoted at N1,510 on Thursday and
Friday from N1,555 quoted last week Friday.

 

Rewane noted that while the new found stability of the naira should be
treated with caution, the local currency has strengthened by nine per cent
so far in 2025, maintaining its rally up from December after the CBN
introduced some reforms to ensure efficiency in the market.

 

He highlighted that inflationary pressures are easing while signaling a
bright side for the country's gross domestic product (GDP) growth.

 

"On the bright side, the Nigerian naira has appreciated by nine per cent so
far in 2025, inflation pressures are easing and GDP growth is positive.
Petrol/diesel prices are cooling and the PMI is expanding," he said.

 

"On the dark side, money supply is at 17 per cent which is very high,
interest rates are elevated, borrowing costs are up, PoS and ATM fees are up
and telecom and electricity tariffs are up," Rewane stated.

 

On inflation, Rewane emphasised that there was no way prices could have
reduced by over 10 per cent within such a short period.

 

While the rebased figures stood at 24.48 per cent for January 2025 up from
34.8 per cent last December, the real method carried out by the FDC team
puts the inflation rate at 33.35 per cent.

 

"The man on the street does not believe that inflation has come down," he
declared.

 

Speaking at the 299th MPC meeting, Olayemi Cardoso, governor of the CBN said
that admitting that inflation has fallen by over 10 percent after the
rejigging of the consumer price index meant comparing "apple with oranges".

 

"But we can see that inflation is gradually trending down".

 

The MPC will be meeting on May 19 and 20 2025 after which three inflation
data must have been released. This will then shape their policy direction
whether to cut, hold or hike benchmark interest rates from its unchanged
27.5 per cent.

 

Recall that chief executive officer of Lagos-based research firm Economics
Associates, Ayo Teriba, earlier said the new found stability of the naira is
nothing to be overly excited about given that the local currency fell from
as high as N1,300/$ last April.

 

Teriba said the naira at 1,300/$ in April could have been said to be
"encouraging" compared to an average of N1,500/$ obtainable today.

 

"The exchange rate has weakened as far as N1,900 and it's improved to a best
record at the end of April last year when it was at N1,300. Now it's gone to
1,650 and now going back to 1,500. But compared to 1,300 in April last year,
there's nothing to celebrate," Teriba stated in an interview on BusinessDay
Television.

 

But for many other economists and analysts, the naira's outlook is bullish
as the local currency has been steadily strengthening since the CBN embarked
on some reforms last December to enhance transparency and efficiency of the
FX market.

 

"Don't be too quick to express optimism or commend efforts. Inflation is
still at record levels. Let's hope that the exchange rate weakens at a
sustainable level to bring inflation down," Teriba stressed.

 

For Africa's most populous nation, the problem is not only about swings in
exchange rates but also sky-high prices that's now fallen to 24.48 per cent
in January after the country revised its consumer price index.

 

Teriba said rather than commending the central bank, he would encourage the
monetary authorities to do more "until we get to some more meaningful
levels."

 

"I don't think 1,500 is something to celebrate given that we are coming from
about less than N500 to the US dollar. What the exchange rate is goes a long
way to determine where our dollar GDP value is and our per capita income."

 

The economist said while the naira is showing some improvements, efforts
must be made so that it's sustained so the dollar crashes to N1,000.

 

"The government should be pushing more aggressively to see the exchange rate
go back to below N1,000 to a USD and not congratulating ourselves for N1,500
per dollar," Teriba stated.-on Leadership.

 

 

 

 

Africa: Malawi, Africa Hit Hard - Three Years of Ukraine Invasion

Three years ago, on February 24, the world was shaken by Russia's full-scale
invasion of Ukraine. Despite widespread international condemnation and
ongoing efforts to end the war, countries like Malawi and many others across
Africa continue to grapple with its far-reaching consequences.

 

Economic Struggles and Rising Costs

 

Before the war, Malawi heavily relied on wheat imports from Ukraine, as it
lacked the capacity to produce its own. The conflict disrupted supply
chains, leading to skyrocketing prices that have severely impacted
businesses and households alike.

 

 

"The price of bread and other confectioneries is no longer stable--I can't
afford it anymore. It feels like manufacturers are passing the extra costs
onto us as consumers. We are told wheat is far more expensive now than it
was before the war," says Mercy Kapito, a widowed mother of five.

 

Human rights and governance expert Undule Mwakasungula echoes these
concerns, stating that the war has increased Malawi's economic burdens
through rising food and commodity prices. However, he notes that
international aid efforts have also opened opportunities for
resilience-building initiatives in Malawi and other African nations.

 

Similarly, Victor Nyirenda, a resident of Lilongwe City, highlights the
compounded effects of the war on Malawi, which has already been grappling
with extreme weather events, the aftermath of COVID-19, and a cost-of-living
crisis.

 

"In the past three years, Malawi has suffered from cyclones, droughts,
floods, and pest invasions. During the same period, the cost of energy,
fertilizers, and wheat--strategic imports--has skyrocketed," Nyirenda
explains.

 

Due to economic sanctions and trade restrictions imposed on Russia by the
U.S. and other Western nations, Malawi can no longer import energy and
fertilizers under preferential terms from Russia for fear of secondary
sanctions. Additionally, funding for development and governance projects has
been cut or reallocated to support Ukraine's war efforts, further straining
Malawi's economy.

 

Africa's Complex Position in the War

 

Reports of Malawian youths trapped in Russian war-related industries under
Alabuga scholarships have raised concerns, though authorities have remained
tight-lipped. The identities of these youths remain unclear, as do the
details surrounding their situation. Similar cases involving youths from
other African nations have also surfaced.

 

Despite repeated inquiries, Malawi's Ministry of Foreign Affairs has not
provided any official response. Last year, Benedicto Kondowe, chairperson of
the National Action Plan (NAP), urged authorities to engage in dialogue with
Russia for the safe repatriation of these individuals.

 

Malawi maintains diplomatic relations with both Russia and Ukraine. In 2023,
the country received Russian fertilizer for distribution through the
Agriculture Input Programme (AIP), with the shipment arriving via
Mozambique. Meanwhile, Ukrainian officials, including the Minister of
Foreign Affairs, visited Malawi in 2024 as part of an African diplomatic
tour that also included Zambia and Madagascar.

 

Despite Malawi's silence on the fate of the youths allegedly trapped in
Russian drone-making companies, the deaths of two African youths--Tanzania's
Nemes Tarimo and Zambia's Lemekani Nyirenda--while fighting for Russia in
Ukraine serve as stark reminders of the war's reach into Africa. Both men
had been serving prison sentences before being recruited by the Wagner Group
(now Africa Corps) under conditional release terms, only to lose their lives
in the conflict.

 

Political commentator Mavuto Kaipa warns that Africa is more entangled in
the war than it appears. "Many Africans are being drafted into the war
effort, whether through coercion or economic necessity," he says.

 

Pathways to Ending the War

 

Governance expert Mwakasungula insists that diplomatic negotiations remain
the best solution, urging global and regional bodies like the United Nations
(UN) to step up efforts to broker peace.

 

"Sanctions have not achieved their intended goals--they have only deepened
the economic strain and prolonged the conflict. It's time to prioritize
diplomacy over punitive measures. A neutral facilitator like the UN is
crucial to an inclusive peace process," he argues.

 

Nyirenda agrees, emphasizing that only a negotiated settlement involving key
global powers--Russia, the U.S., European nations, and China--can bring the
war to an end.

 

For international relations scholar Gray Kasunda, mutual concessions are
necessary. "If Putin and Zelenskyy can sit down and agree that Ukraine will
not join NATO, while Russia ceases its expansionism and returns occupied
territories, then peace is possible," he suggests.

 

Shifting Global Dynamics and Africa's Role

 

Former U.S. President Donald Trump, who took office on January 20, has
pledged to end the Ukraine war swiftly. His outreach to both Putin and
Zelenskyy has raised concerns among European allies, who fear being
sidelined in peace negotiations. These fears were reinforced when Trump's
Ukraine envoy confirmed that Europe would not have a seat at the negotiating
table, with Washington instead surveying European nations on their
contributions to Kyiv's security.

 

Regional African blocs like the Southern African Development Community
(SADC), Eastern African Community (EAC), and Economic Community of West
African States (ECOWAS) have acknowledged that the war has intensified
global political divisions. The African Union Commission (AUC) has warned
that the conflict is reigniting Cold War-era tensions, forcing African
nations to navigate a complex diplomatic landscape.

 

Retired diplomat Christopher Kamanga highlights the broader geopolitical
implications. "The war has destabilized the global security framework
established after World War II. Russia's invasion violates the UN Charter,
which prohibits the use of force against sovereign states," he explains.

 

With the U.S. reportedly shifting its focus toward containing China, the
outcome of the Ukraine war could shape future geopolitical alignments.
Nyirenda speculates that the resolution of the conflict will depend on
Trump's political calculations compared to those of former President Joe
Biden.

 

"The economic war of reciprocal trade tariffs and technology restrictions is
ongoing, and the battleground may soon shift. If the U.S. reduces its role
in Ukraine, it could signal a broader strategy shift," he concludes.

 

As Russia advances on the battlefield and the U.S. reconsiders its role,
analysts warn that now is the time to highlight the dangers of territorial
aggression and the immense civilian toll of prolonged conflict.- Nyasa
Times.

 

 

 

 

 

 

Liberia: Ethiopian Airlines Aborts Landing At Roberts International Airport
Due to Thick Smoke From Nearby Farm Fires

Monrovia — An unusual and potentially dangerous situation unfolded at
Roberts International Airport (RIA) last week when an Ethiopian Airlines
flight was forced to abort its landing due to thick smoke drifting over the
airport. The incident occurred in Unification Town, Margibi County, and has
raised fresh concerns over the safety of air traffic in the region.

 

Smoke from Farm Fires Disrupts Operations

 

According to an anonymous source at the airport, intense smoke was generated
by farm fires just outside RIA's perimeter fence. Local farmers in
surrounding villages, who commonly burn their fields to clear land,
inadvertently created hazardous conditions as the smoke drifted into the
airport's airspace. The heavy smoke severely reduced visibility, forcing the
Ethiopian Airlines flight to circle the airport for approximately 15 to 30
minutes as pilots struggled to navigate safely.

 

 

"The flame and thick smoke created hazardous flying conditions, leaving the
pilots no choice but to reverse course and await clearer skies," the source
explained.

 

Delayed Landing and Wider Safety Concerns

 

Originally scheduled to land early last week, the flight ultimately aborted
its landing and did not return until the following morning, when the smoke
had finally dispersed. FPA gathered that the flight went to the Ivory Coast
before returning. The disruption has not only interrupted normal airport
operations but also highlighted ongoing safety challenges related to
environmental management and local agricultural practices near the airport.

 

Calls for Urgent Action

 

The incident has prompted renewed calls for local authorities and airport
management to implement robust fire management protocols. Insiders have
expressed growing concerns that the recurring practice of burning farms
around the airport poses a significant risk to air traffic safety,
especially during the dry season when such fires are most common.

 

In addition to the environmental hazards, sources within the airport have
raised issues over operational challenges. Reports indicate problems such as
the continuous mishandling of passenger baggage and personal items, a
malfunctioning escalator, and internal wrangling among top managerial team
members. These lapses, according to industry insiders, contribute to a
broader atmosphere of institutional inefficiency and could undermine public
trust in the airport's ability to maintain a safe and secure environment.

 

"There is an urgent need for both environmental control and internal reform
at Roberts International Airport to prevent future disruptions and safeguard
passengers," one insider noted.

 

Airport management did not respond to media inquiry up to time of
publication.

 

A Call for Comprehensive Reforms

 

As investigations into the aborted landing continue, the incident is
increasingly being seen as a wake-up call for authorities. The combined
impact of uncontrolled farm fires and internal operational challenges at RIA
could have far-reaching implications for Liberia's primary international
gateway if not addressed promptly.

 

Local government representatives and airport management are under mounting
pressure to respond decisively. The incident has sparked discussions on the
need for enhanced safety protocols and stricter regulation of local
practices around the airport perimeter to ensure that such "precarious
situations" are not repeated.

 

As the investigation unfolds, both industry experts and the public are
watching closely, with many calling for immediate reforms that prioritize
the safety and security of Liberia's aviation sector.-FrontPageAfrica.

 

 

 

 

 

Uganda: Shs1.82trillion Lost to Economic Crimes in 2024-Police

The police annual crime report has indicated that shs1.82 trillion was lost
to economic crimes in the year 2024.

 

Speaking on Monday, CID deputy director, Beata Chelimo said the money was
lost through embezzlement, corruption, and bank-related crimes, among other
fraudulent activities.

 

She added that this amount was lost in 13,132 economic crime cases reported
in 2024, indicating a 1.6% increase from the 12,000 reported the previous
year in 2023.

 

Police also reported that a total of 218,715 criminal cases were reported in
2024, 14,425 of which were sexual offenses, 1,473 cases involving domestic
violence, 29,580 assault-related, and 61,529 were theft-related incidents.

 

The report paints a grim picture of the monies lost to economic crimes.-
Nile Post.

 

 

 

 

Kenya: Court Dismisses Equity Bank's Appeal On Compensation of Three
Ex-Employees

Nairobi — The Court of Appeal Kenya has dismissed Equity Bank's appeal,
which aimed at dismissing an appeal filed by three former employees of the
bank who were demanding compensation after their exit from the bank.

 

In a ruling delivered by a three-judge bench on 21st February, the court
determined that the respondents have causes of action that are worth
defending and equity's appeal lacks merit.

 

The case involves three employees who ceased to be equity employees between
2006 and 2009.

 

Equity Bank, through trustees, was required to pay them their full
redemption proceeds, which include special damages, dividends, and general
damages, within 30 days of ceasing to be employees, but they failed to do
so.

 

According to the court, the three individuals have the right to be heard.

 

"We observe that the appellant's submissions in this appeal are geared
towards defending their case against the plaint filed by the respondents.
We, therefore, have no hesitation in holding that the respondents have
causes of action worth defending," it stated.

 

"We agree with the learned Judge that the plaint raises causes of action
that deserve to be heard and determined by the court and thus, she was
correct in declining to strike out the suit," it added.- Capital FM.

 

 

 

 

 

Liberia: Agriculture Minister Tours EU-Funded Cassava Breeder Seed Garden At
Cari

The Minister of Agriculture, Dr. J. Alexander Nuetah, toured the European
Union-funded cassava breeder seed garden or multiplication site established
at the Central Agriculture Research Institute (CARI) recently.

 

The purpose of the visit was to assess the level of work being carried out
to multiply planting materials for distribution to smallholder cassava
farmers.

 

The seed garden covers 13.5 hectares of seven different varieties imported
from Nigeria by IITA.

 

With funding from the EU through the Seed 4 Liberia Project, IITA, in
collaboration with CARI, has established the garden to ensure the
availability of improved, high-yielding cassava planting materials.

 

 

Agriculture Minister, Dr. Nuetah, upon touring the site, told journalists
that the level of work done by IITA and CARI at the site was impressive.

 

"I am very much impressed about the first step taken to multiply the
planting materials. The variety has more starch content and the other with
Vitamin E that farmers can grow and sell to earn more money," he said.

 

He said that the Ministry expects to see the cassava cuttings being
distributed to farmers as soon as possible.

 

"We expect to get the cassava cuttings to the farmers very soon to get them
to plant," he said.

 

The minister said to ensure a stable cassava market and to generate
revenues, the government has brought into the country an investor who is
setting up an industrial cassava processing facility in Margibi County.

 

"The facility, when completed, will create market opportunities for our
smallholder cassava farmers," he stated.

 

Nuetah said his Ministry is working with farmers by establishing production
units in cassava-producing counties to supply the facility.

 

"We're ensuring the provision of mechanized equipment for these production
units to allow the farmers to expand production," he added.

 

With the establishment of the cassava breeder seed garden and the
government's plan to bring an investor to construct the industrial
processing center, cassava production is expected to increase in the country
and to develop the lives of more producers.- Liberian Observer.

 

 

 

Kenya: SMEs in Kenya Loss 60pc Revenue Due to Poor Branding

Nairobi — Inadequate branding is causing Kenyan SMEs a 60 percent revenue
loss, a new report shows, highlighting the importance of positive publicity
for firms.

 

This is contained in the latest Elite Mawu Agency 'Kenya Branding Report
Card 2025,' which was conducted online between October and December 2024 and
surveyed 1,000 respondents.

 

It included a blend of Kenyan consumers (30 percent) and representatives
from Kenya's SME sector (70 percent) in fast-moving consumer goods,
manufacturing, real estate, logistics, agriculture, and fintech in Nairobi,
Kisumu, and Mombasa.

 

 

According to the data, poor branding not only affects customer
identification and trust but also inhibits SMEs from distinguishing
themselves from competitors, diminishing customer attraction and retention
rates, and ultimately stifles sales and revenue growth.

 

Key elements highlighted include the importance of a distinct logo,
attractive color schemes, and other impactful visual elements that make
brands memorable and capable of generating leads.

 

"When a brand is not well-established, potential customers may remain
oblivious to its existence, resulting in significant missed sales
opportunities," noted Esther Murugi, Founder and CEO of Elite Mawu Agency.

 

"A poorly crafted logo, inconsistent messaging, or negative online reviews
can together create a detrimental image, deterring customers from engaging
with the business."

 

The findings further elucidate that without a clear and coherent brand
identity, SMEs find themselves unable to differentiate effectively in
saturated markets.

 

This lack of differentiation often pushes companies into price-driven
competition, where they may lack a competitive advantage.

 

Moreover, the report indicates a direct correlation between brand
recognition and customer loyalty. Brands that fail to establish trust and
recognition are more susceptible to higher customer churn rates.

 

"A weak brand severely limits the potential to develop impactful marketing
strategies that connect with target audiences," Murugi added as the firm
celebrates its 5th year anniversary.

 

"It is crucial for SMEs to clearly define their target market, unique
selling propositions, and brand values, thereby cultivating a consistent and
recognizable brand image."- Capital FM.

 

 

 

 

 

 

 

 

Uganda Breweries Donates Investments Worth Shs30m to Empower Luzira Youth
and Women

Port Bell — Uganda Breweries has today donated items worth UGX 30M to the
Luzira Youth and Women community. The donation includes 400 plastic chairs,
10 tables, 2 portable mini-sound systems, and 4-fifty-seater tents which
will serve as revenue-generating assets through hire towards community
development initiatives.

 

While handing over the items to the Youth and Women community in Luzira,
Uganda Breweries Corporate Relations Director, Sheila Sabune, emphasized
that this initiative represents a sustainable approach to corporate social
responsibility. She highlighted that, rather than relying solely on UBL for
support, the recipients will have the opportunity to use these assets as a
social enterprise--generating income and funding their other community
activities as well as use them for their own events.

 

 

"This initiative fits within this ongoing Spirit of Progress Environmental,
Societal and Governance (ESG) action plan; that envisions fostering positive
societal impact that includes championing inclusion and diversity across the
value-chain", she added.

 

Over the past year, the country's GDP indicates the economy grew by 6.1%
driven by the services sector according to the Uganda Bureau of Statistics
(UBOS).

 

By equipping the Luzira community with revenue-generating assets, Uganda
Breweries is directly addressing the socio-economic gaps that are faced by
youth and women while empowering them to compete in the service industry.
This is a more sustainable approach to corporate social responsibility where
the donation Additionally, the women and youth will use the assets for many
of their own activities, such as sports and women group engagements, instead
of hiring at a cost.

 

While receiving the donation, Luzira Woman Representative Luzira expressed
their gratitude towards Uganda Breweries and urged the community to support
one another.

 

'Thank you, Uganda Breweries, for demonstrating that you truly care about
the communities in Luzira. You are showing leadership in how companies can
partner with the communities in which they operate,' Said councillor Willy
Turinawe (LC3 Councillor Luzira 3) & Fatuma Naigaga (Woman Councillor
Luzira) in their joint statement.

 

Read the original article on Independent (Kampala).

 

 

 

 

 

 

Major Asia bank to cut 4,000 roles as AI replaces humans

Singapore's biggest bank says it expects to cut 4,000 roles over the next
three years as artificial intelligence (AI) takes on more work currently
done by humans.

 

"The reduction in workforce will come from natural attrition as temporary
and contract roles roll off over the next few years," a DBS spokesperson
told the BBC.

 

Permanent staff are not expected to be affected by the cuts. The bank's
outgoing chief executive Piyush Gupta also said it expects to create around
1,000 new AI-related jobs.

 

It makes DBS one of the first major banks to offer details on how AI will
affect its operations.

 

 

The company did not say how many jobs would be cut in Singapore or which
roles would be affected.

 

DBS currently has between 8,000 and 9,000 temporary and contract workers.
The bank employs a total of around 41,000 people.

 

Last year, Mr Gupta said DBS had been working on AI for over a decade.

 

"We today deploy over 800 AI models across 350 use cases, and expect the
measured economic impact of these to exceed S$1bn ($745m; £592m) in 2025,"
he added.

 

Mr Gupta is set to leave the firm at the end of March. Current deputy chief
executive Tan Su Shan will replace him.

 

The ongoing proliferation of AI technology has put its benefits and risks
under the spotlight, with the International Monetary Fund (IMF) saying in
2024 that it is set to affect nearly 40% of all jobs worldwide.

 

The IMF's managing director Kristalina Georgieva said that "in most
scenarios, AI will likely worsen overall inequality".

 

The governor of the Bank of England, Andrew Bailey, told the BBC last year
that AI will not be a "mass destroyer of jobs" and human workers will learn
to work with new technologies.

 

Mr Bailey said that while there are risks with AI, "there is great potential
with it".

-bbc

 

 

 

 

 

Apple commits to $500bn US investment

Apple plans to invest more than $500bn (£396bn) in the US over the next four
years, starting with a new advanced manufacturing factory in Texas.

 

The tech giant said it expected to create 20,000 new jobs over that time,
with the "vast majority" of roles in research and development, software and
artificial intelligence (AI).

 

It is not clear to what extent the spending is an acceleration of the
company's current activities. Apple said the sum included everything from
spending on suppliers to Apple TV+ productions.

 

The announcement comes days after Apple boss Tim Cook met with President
Donald Trump, who has made increased corporate investment in the US a
priority.

 

In its announcement, Apple said its investment was its "largest-ever spend
commitment" and would expand its support for American manufacturing.

 

"We are bullish on the future of American innovation," Cook said.

 

The new 250,000 square foot factory in Houston, Texas, is set to produce
servers that were "previously manufactured outside the US" to support Apple
Intelligence, the company's AI system, the company said.

 

The iPhone maker added it would open in 2026 and create "thousands" of jobs.

 

Apple is also expanding its data centre capacity in North Carolina, Iowa,
Oregon, Arizona, and Nevada, and doubling its support for a fund dedicated
to US manufacturing, which it created in Trump's first term, from $5bn to
$10bn.

 

Trump previewed the announcement last week, claiming it was partially a
response to his trade policies, including tariffs.

 

On Monday, the president took credit for the news on social media, saying
the reason for the investment was "faith in what we are doing, without
which, they wouldn't be investing ten cents".

 

Trump has said he wants to see more companies making their products in the
US, threatening to raise tariffs drastically in a bid to make domestic
manufacturing more attractive.

 

Last month, he imposed a new 10% border tax on all imports from China, where
Apple has a significant manufacturing presence.

 

He has also proposed tariffs on products made in many other countries,
including neighbouring nations Mexico and Canada.

 

Dan Ives, analyst at Wedbush Securities, said the announcement was a
"strategic move" to diversify the company's manufacturing operations "while
also playing well into Trump's US investment theme".

 

"Cook continues to prove that he is 10% politician and 90% CEO," he wrote in
a note.

 

Apple in 2021 said it was investing $430bn in the US and would add 20,000
new jobs across the country over five years.

 

Ives said the initiatives announced by Apple on Monday did not seem to
signal a big shift in the company's manufacturing plans for China, noting
that the areas in question were not a focus of its activities there.-bbc

 

 

 

 

 

 

Starbucks cuts English breakfast latte in menu shake-up

Starbucks is cutting 1,100 jobs and simplifying its menu in the US as it
tries to improve flagging business in its home market.

 

The first items to get the axe include the Royal English Breakfast Latte,
White Hot Chocolate and several kinds of blended frappuccinos.

 

But Starbucks said more offerings would be cut, as it aims to shrink its
menu by nearly a third over the next year, hoping to reduce wait times and
improve quality and consistency.

 

The company has been wrestling with a sustained fall in sales since last
year, which has been particularly pronounced in the US.

 

Chief executive Brian Niccol, who previously headed the Mexican food chain
Chipotle, was brought into Starbucks last year to help turn the business
around.

 

He has said he wants to see the company return to its roots as a coffee
house.

 

The drinks set for the chopping block "weren't commonly purchased, can be
complex to make, or are like other beverages on our menu", Starbucks said.
The changes are due to go into effect on 4 March.

 

"We're simplifying our menu to focus on fewer, more popular items, executed
with excellence," the company said on Monday.

 

"This will make way for innovation, help reduce wait times, improve quality
and consistency, and align with our core identity as a coffee company."

 

The job cuts announced on Monday are focused on corporate "support partner"
roles and will not affect jobs or investments at stores, the company said.

 

The company said it would inform staff affected by the decisions by mid-day
on Tuesday. It is also eliminating "several hundred" open and unfilled
positions.

 

"Our intent is to operate more efficiently, increase accountability, reduce
complexity and drive better integration," Mr Niccol wrote in the
announcement.

 

Starbucks employs more than 360,000 people and operates or licenses more
than 40,000 stores around the world.

 

The US is its biggest and most important market, but its brand there has
suffered in recent years as customers complained about long wait times and
high prices, and the company wrestled with baristas trying to unionise.

 

The company was also embroiled in debates over the Israel-Gaza war, facing
boycott calls from both pro-Israel and pro-Palestine camps, despite the
company's efforts to remain neutral.

 

The company last month said transactions at US stores open at least a year
were down 8% in the most recent quarter, compared with the same period a
year earlier.

 

The drive to simplify the menu marks a shift from previous strategies, which
emphasised personalised drinks.-bbc

 

 

 

 

 

 

Federal workers left confused as Musk doubles down on threat

US government workers faced widespread confusion on Monday following
conflicting advice over compliance with an Elon Musk-backed order to list
their last week's work in an email or face termination.

 

Just 48 hours after an email asking "what did you do last week?" was sent,
the office behind it clarified responses were voluntary, leaving agencies to
decide their approach.

 

But as this new guidance was shared with federal agencies, President Donald
Trump weighed in that workers who did not comply with Mr Musk's demand would
be fired or "sort of semi-fired".

 

And later on Monday evening, Mr Musk reinforced the ultimatum, granting
workers a final chance to respond.

 

 

The mail from the Office of Personnel Management (OPM) on Saturday,
instructed recipients to reply with five examples of what they did over the
past seven days, without revealing any classified information. The
recipients were asked to respond by end of Monday.

 

Mr Musk, who is leading the Department of Government Efficiency (Doge), said
that failure to respond would be taken as a resignation.

 

The comments fuelled backlash, with federal worker unions and activist
groups filing a lawsuit in California to halt the email mandate.

 

Key agencies, including the Departments of Defense, Health and Human
Services (HHS), Justice, and the FBI—now led by Trump appointees—instructed
employees to ignore the directive. This led to widespread uncertainty, with
some workers receiving contradictory messages over the weekend.

 

The result was widespread bafflement, as federal workers faced uncertainty
over their employment. Many also expressed confusion at the competing
guidance they had been given by their respective agencies.

 

"They're succeeding in driving us insane," one employee who works under HHS
told the BBC, and asked not to be named for fear of retaliation.

 

On Monday afternoon, OPM held a call with the heads of human resources at
federal agencies and said it was up to each entity to determine how they
want to handle the directive employees received Saturday, according to CBS
News, the BBC's US partner.

 

The same afternoon, President Trump told reporters at the White House that
Mr Musk's demand was a "genius" move.

 

"There was a lot of genius in sending it," he said. "We're trying to find
out if people are working and so we're sending a letter to people, please
tell us what you did last week. If people don't respond, it's very possible
that there is no such person or they're not working."

 

"And then if you don't answer like you're sort of semi-fired or you're fired
because a lot of people are not answering because they don't even exist,"
Trump said.

 

Mr Musk maintained he was acting on instructions from President Donald
Trump.

 

"Subject to the discretion of the President, they will be given another
chance," he wrote on X, apparently referring to workers who did not respond
to his demand by the end of Monday. "Failure to respond a second time will
result in termination."

 

"The email request was utterly trivial, as the standard for passing the test
was to type some words and press send!" he said in another post. "Yet so
many failed even that inane test, urged on in some cases by their managers.
Have you ever witnessed such INCOMPETENCE and CONTEMPT for how YOUR TAXES
are being spent?"

 

Getty Images Elon Musk in the Oval OfficeGetty Images

President Trump has tapped Elon Musk to find government waste and
inefficiencies. The tech billionaire has earned criticism and praise for
focusing much of his attention on US government workers.

 

Despite pushback from agencies led by Trump appointees, the White House
insisted, "Everyone is working together as one unified team at the direction
of President Trump". "Any notion to the contrary is completely false," White
House press secretary Karoline Leavitt said.

 

The statement did not explain why different government agencies were giving
different recommendations.-BBC

 

 

 

 

 

Why is Ukraine negotiating a minerals deal with the US?

Ukraine has substantial supplies of key minerals, but some are now in
Russian-occupied territory

Kyiv and Washington are close to signing a deal over US access to Ukraine's
mineral deposits, a Ukrainian minister says.

 

Olga Stefanishyna, deputy prime minister for European and Euro-Atlantic
integration, said on X that "negotiations have been very constructive, with
nearly all key details finalised".

 

She added that "we are committed to completing this swiftly to proceed with
its signature".

 

Ukraine has been facing growing pressure from the US administration to sign
the deal, which has ended up in the centre of the growing rift between the
US and Ukrainian presidents.

 

Zelensky first included the offer of an agreement on minerals in the
so-called "victory plan" that he presented to Trump last September.

 

Follow live updates

The idea was to offer the then presidential candidate a tangible reason for
the US to continue supporting Ukraine.

 

On Monday former UK prime minister Boris Johnson told the BBC in Kyiv that
such a deal was "the great prize" because it would secure "a United States
commitment under Donald Trump to a free, sovereign and secure Ukraine".

 

-BBC

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

Email:                <mailto:bulls at bullszimbabwe.com>
bulls at bullszimbabwe.com

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www.facebook.com/BullsBearsZimbabwe



 

 

 


 

INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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