Seeing that it’s Friday, here’s some news for discussion over the weekend with family and friends.
When does Elon Musk not get in trouble for using his Twitter account to espouse his worldview? This time, the South African-born tech billionaire is in hot water for comparing Canadian Prime Minister Justin Trudeau to Adolf Hitler. Where do we even begin…
Musk tweeted out the meme comparing Trudeau to the Nazi leader on Wednesday evening before deleting it by midday on Thursday in an apparent attempt to show support for truckers who have been protesting vaccine mandates and causing blockades in the Canadian capital city of Ottawa.
The latest reports indicate that Canadian authorities had ordered banks to block cryptocurrency donations to anti-vaccine protesters.
In the picture, Hitler has “Stop comparing me to Justin Trudeau” written above his head and “I had a budget” below it.
The Auschwitz-Birkenau museum, which is the site of the Nazi concentration camp where 960,000 people were killed, condemned Musk’s use of the image and said it “disrespects the memory of all victims and hurts many people”. Hitler is responsible for the genocide of millions of Jewish people during World War II.
The American Jewish Committee said the tweet was unacceptable and demanded that Musk apologises for using the image.
“Musk may believe posting a meme comparing Justin Trudeau to a genocidal dictator who exterminated millions is an appropriate way to criticise policies he disagrees with. It is not. It never is. Musk must apologise and find other ways to voice his displeasure,” it said.
Will Elon Musk’s ego ever give way to some sense of compassion and normality? Doubtful.
Meanwhile, Twitter head Parag Agrawal is going to take some time off for the birth of his second child. Agrawal has received praise for breaking the stigma around taking time off as a father but it has also sparked a debate around paternity leave in the United States.
Some have said Agrawal isn’t taking enough time off while others have asked just how much time off is enough? Twitter offers a generous 20 weeks of paternity leave but Agrawal won’t be taking the full compliment.
Laws around paternity leave in the US differ from state to state with no federal law mandating how long paternity leave should be, while in California (where Twitter is based) the law mandates that up to 12 weeks of unpaid paternity leave be offered. Other provisions ensure up to six weeks of paid paternity leave is offered to new parents.
On the local front, South African fathers don’t get half as good a deal as Californian dads with SA legislation mandating two weeks paternity leave while maternity leave is up to 16 weeks.
And by taking women out of the workforce for extended periods, we are negatively affecting their future job prospects and opportunities for leadership positions.
In the markets, the rand is holding firm under the R15.00-level to the US dollar in subdued trading in the Far East market as news that the US Secretary of State and the Russian Foreign Minister will be meeting next week to hopefully come to a diplomatic answer to the Russian/Ukraine situation calmed markets.
“The rand tested the 200-day moving average at R14.90 yesterday afternoon before closing at R14.99 on a day when we saw a high volume of 2-way trade. Markets are likely to see some consolidation today as we head into the US holiday weekend,” comments TreasuryONE.
The rand was last quoted at R14.97/$.
“The move to safe-haven assets has slowed a touch, and we have the dollar slightly lower, with gold trading off yesterday’s best levels, and EM currencies holding on to yesterday’s gains.”
Gold broke above the $1,900-level an ounce yesterday and this morning but has retreated slightly on the US/Russia diplomatic moves to currently trade at $1,890. Platinum is steady at $1,091/oz and palladium is at $2,345/oz, while Brent crude slipped to $92.41/oz.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
‘We are working around the clock’ – Zondo, as he asks for another Inquiry extension – News24
High Court lays down the law on forced auctions after home sells for just R10 – GroundUp/Fin24
Blade Nzimande launches hydrogen roadmap to a greener future for South Africa – Daily Maverick
Global Business
Russia says it may be ‘forced’ to respond militarily if the US won’t agree to its Ukraine demands – Business Insider
Spotify is reportedly paying Joe Rogan $200 million, double what was previously known – Mashable
Apple investors are being asked to vote against giving CEO Tim Cook his $98.7 million pay package for 2021 – Business Insider
Markets
Asian markets drop as Ukraine fears return, oil extends losses – AFP
Gold price pushes above $1,900 as Ukraine crisis spurs haven demand – Bloomberg/DM
Berkshire Hathaway’s Charlie Munger says government should ban bitcoin — calls crypto ‘venereal disease’ – Bitcoin.com
Opinion/In-depth
Dear former comrades, how much power and money is enough? – Daily Maverick
Regulating for failure – a cautionary tale for SA – Biznews
The State Capture Commission laboured hard for years — now it’s time for the wheels of justice to turn – Daily Maverick
Video
What insects can learn from lobsters about rebranding – NYT Opinion
VIP Bodyguard Rory Steyn on Nelson Mandela, the man he protected for five years – Biznews
‘You’re a bad, weak lawyer’ – Malema to AfriForum’s attorney – EWN
Image: Daniel Oberhaus/Flickr
