Wall Street ends week lower as tech shares retreat
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices....
Errol Musk, father of billionaire Elon Musk, facilitated a call between his son and South African President Cyril Ramaphosa on Monday after Trump accused South Africa of land seizures and threatened to cut $400 million in U.S. aid.
Elon Musk and South African President Cyril Ramaphosa spoke on Monday after Trump claimed South Africa was "confiscating land" and mistreating "certain classes of people," a statement that triggered market concerns and sent the South African rand into decline.
The conversation was facilitated by Musk’s father, Errol Musk, who revealed that he was contacted by a senior aide to Ramaphosa while dining at a restaurant. "I was asked if I could arrange a quick talk between Ramaphosa and Elon, so I did," Musk senior told Reuters, showing messages from the presidential aide as evidence.
Errol Musk speculated that his son likely urged Ramaphosa to reconsider land ownership laws, stating: "I can only imagine that Elon would have said, ‘We want to help you, but you have to quit this war on white people in South Africa.’"
The dispute stems from South Africa’s new land reform law, which allows the government to expropriate land "in the public interest," in some cases without compensation. Critics, including Musk, argue that the policy unfairly targets white landowners, though the South African government denies this, insisting it is part of a broader economic reform strategy.
Trump’s statement, made on his platform Truth Social, led to a 2% drop in the South African rand and fears over the potential loss of U.S. financial aid, much of which supports HIV/AIDS treatment programmes.
Ramaphosa later confirmed his discussion with Musk but did not comment on its details. Meanwhile, his office dismissed Errol Musk’s remarks as "personal opinions" that do not reflect government policy.
The situation remains tense as South Africa seeks to maintain international funding while addressing historic land inequalities.
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
Thailand’s caretaker Prime Minister Anutin Charnvirakul said on Saturday that Thai forces would continue military action along the Cambodia border until Bangkok believes there is no longer a threat to Thai territory or civilians.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
EU foreign policy chief Kaja Kallas has warned that without concrete concessions from Russia, such as limiting its military forces or curbing its defence budget, new conflicts could erupt elsewhere, even if Ukraine receives security guarantees.
Multiple people were shot on Saturday at Brown University in Providence, Rhode Island, prompting an active shooter alert and a campus lockdown, city officials said.
The latest round of clashes between Thailand and Cambodia has left 15 Thai soldiers dead and 270 others injured, Thailand’s Ministry of Defence spokesman Surasant Kongsiri said at a press conference on Saturday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment