1. Massive turmoil in the markets, as Wall Street continued to sink last night. The Dow Jones and S&P 500 both closed down more than 2%. Investors are worried about slower economic growth worldwide, while interest rates are rising. US president Donald Trump added fuel to the fire with a renewed attack on the Federal Reserve. The dollar took a dive in response – this morning, the rand was more than a percent stronger at R14.58/$.
The JSE lost ground yesterday, but the gold sector exploded: Harmony was up more than 18% as the gold price firmed.
2. The VBS fallout continues, with Daily Maverick reporting that EFF deputy leader Floyd Shivambu received R10m via his brother.
3. Meanwhile, it looks like we may break out of the recession after a second month of growth in manufacturing. Statistics SA yesterday reported that output rose by 1.3% in August – more than double what economists were expecting.
4. After investing R10 billion so far, government is abandoning its direct involvement with controversial set-top boxes - devices that let people with old analogue television sets pick up signals from new digital technology.
5. Sanlam has concluded its biggest takeover yet: a $1.1 billion deal to seal a full acquisition of the Moroccan insurance firm SAHAM.
Kanye West wants President Donald Trump to fly in a plane designed by Apple.
In a meeting Thursday with Donald Trump, West proposed the iPlane 1, a hydrogen-powered plane that would replace the existing Air Force One. West showed Trump the design on his iPhone X - which appeared to have a lock code of "000000" - and suggested that Apple be the one to build the plane.
"If he don't look good, we don't look good. This is our president," West told reporters Thursday in the Oval Office. "He has to be the freshest, the flyest."
Apple, which does not make planes, declined to comment to Business Insider.
Here's a close-up of the design that West showed the president.
Telegraph journalist James Ticomb reports that West's iPlane photo is actually an industrial designer's concept drawing of an iPlane, dating back to 2012.
West also treated the Oval Office to an "extended soliloquy" that covered the importance of American-manufactured goods, how wearing a MAGA hat makes him feel like "Superman," and his recent bipolar disorder diagnosis.
Reporting by Paige Leskin
Also from Business Insider South Africa: