The price of bitcoin fell to less than $13,080 on Friday morning, according to CoinDesk.com. That makes an 18-percent drop since its previous slide, and more than 30 percent since it reached the historic $20,000 mark last week. The cryptocurrency has experienced its second major drop in just days. Rival bitcoin cash has also fallen, plunging to $2,536 per coin, following its rapid climb of more than 50 percent to almost $4,330 per token on December 20.
Shoprite Employees On Nationwide Strike
More than 30‚000 workers are expected to take part in the protected strike on Friday‚ according to the South African Commercial‚ Catering and Allied Workers’ Union (Saccawu) and union federation Cosatu. The workers are demanding a reversal of changes to working hours‚ the reinstatement of Sandton Checkers employees who were dismissed for protesting against the changes‚ safe transport for night-shift staff and a guaranteed number of minimum working hours for part-time workers.
Facebook Signs Landmark Deal With Universal Music
Facebook Inc. signed a multiyear licensing deal that lets the social network carry songs and artists from the world’s biggest record label, Universal Music Group, across its platforms. The deal announced Thursday solves a long-running dispute, with Facebook agreeing to compensate the company and artists including Taylor Swift when users post videos that include copyrighted material. The accord includes Facebook, Instagram and Oculus virtual-reality technology, with Universal saying the company would become a “significant contributor” to the industry.
British American Tobacco To Buy Twisp
British American Tobacco, the world’s second-largest traded cigarette maker, agreed to buy South African vaping company Twisp, expanding in a continent where it has grown in since buying Rothmans in 1999. The deal increases BAT’s offering of so-called next-generation products, or alternatives to smoking cigarettes, the London-based company said in a statement on Thursday. It didn’t disclose the price of the deal or how it’s being funded.
Canada Cancels Gupta Jet Loan
Canada’s trade financing agency Export Development Canada (EDC) said on Thursday it has scrapped a deal to help finance the sale of a Bombardier Inc jet to the wealthy Gupta family. The Guptas failed to meet loan repayment obligations in recent weeks and, with the EDC assessing a “political exposure” risk, it terminated the loan which allowed Canada’s Bombardier to sell a Global 6000 jet to them.
Currencies: Bitcoin R190,339. R9,645 . R/USD12.72 . R/GBP17.04 . R/EUR15.14