Morning Brief – Wednesday, 2 November 2022

Good morning. Here’s what you need to know today:

• Fuel prices to rise sharply at midnight.
• Twitter Blue users will have to pay $8 a month for the service.
• Amazon is no longer a $1 trillion company following a poor run for its share price.

Petrol price hike: Here’s what it’ll cost for a full tank

After a brief reprieve from rising fuel costs, the price of petrol and diesel is set to rise again at midnight. The petrol price will go up by 51 cents a litre for both grades to R22.22 for 95 octane and R21.92 for 93 while diesel is expected to climb by a whopping R1.43 a litre. If you’re wondering how much you’ll have to pay to fill your tank? This helpful guide looks at some of SA’s most popular cars to see how much more you’ll have to pay when you roll up at the garage. (The Citizen)

Twitter Blue will verify users for $8 a month, says Musk

Elon Musk will look to turn around Twitter’s finances by launching a new subscription model premium account for verified Twitter users that will cost around $8 a month. Dubbed Blue, the new offering will allow for priority replies, mentions and search functionality. Twitter Blue already exists for $4.99 a month but does not offer much in value proposition with few benefits other than the ability to edit tweets. (Daily Maverick)

Amazon market value plunges below $1 trillion for first time since 2020

E-commerce giant Amazon’s shares fell sharply on Tuesday, which saw the company dip below the $1 trillion market capitalisation for the first time since the beginning of the covid-19 pandemic. Shares fell for a fifth straight session on Tuesday with the company down some 20% over the period while Amazon’s shares are down 42% this year. The company’s poor share price performance has been spurred on by its recent earnings report where it predicted its slowest holiday season in history. (MyBroadband)