South Africa cracks down on financial crimes, and Spotify founder’s hot new product

The rand was trading at R16.66 against the United States dollar on the morning of Sunday, 4 October.

According to FNB, the third-quarter 2026 US earnings season is gaining momentum, with more companies expected to report results over the coming week.

There are no major economic releases expected in South Africa or the broader Asia-Pacific region.

On the corporate actions front, several companies will trade ex-dividend on Wednesday, 7 October 2026.

These include Harmony Gold Mining Company, Rainbow Chicken, Sea Harvest Group, Aspen Pharmacare, African Rainbow Minerals, Hyprop Investments, FirstRand, Attacq and Momentum.

So far, 10 S&P 500 companies have reported their 3Q26 results. Of these, 70% have beaten earnings expectations, while 60% have exceeded consensus revenue estimates.

In the US, PepsiCo will be one of the companies in focus in the coming week. The company reported second-quarter revenue of $24.2 billion, up 6.4%, while organic revenue growth was 2.4%.

Core earnings per share rose 4% to $2.20, although the core operating margin narrowed by 40 basis points.

Management maintained its 2026 guidance for organic revenue growth of 2% to 4%, core constant-currency EPS growth of 4% to 6% and around $8.9 billion in cash returns. Third-quarter revenue is expected to reach $25 billion.

In Europe, investors will also focus on Shell’s 3Q26 results next week. Shell reported second-quarter revenue of $94.66 billion, up 36% quarter-on-quarter and 45% year-on-year, while adjusted EPS rose to $1.76.

The company benefited from strong Brazilian upstream production and 102% refinery utilisation, while also announcing a further $3 billion in share buybacks.

For 3Q26, Shell expects upstream production of 1.68 million to 1.88 million barrels of oil equivalent per day and Integrated Gas output of 570,000 to 630,000 barrels per day.

In South Africa, households entered the second half of 2026 with weak labour-income growth and little improvement in labour-market conditions.

However, lower household leverage, rising wealth and non-labour income sources have helped support household finances.

Consumer resilience is increasingly being supported by diversified income and stronger balance sheets rather than broad-based wage growth.

Important finance and investing news

South Africa cracks down on financial crimes: South Africa is intensifying its crackdown on financial crimes such as money laundering and terrorist financing, with confidence in passing its upcoming integrity assessment. [SABC]

Spotify founder’s hot new product: Neko Health is an emerging body scanning service co-founded by Spotify’s Daniel Ek and Hjalmar Nilsonne. Using advanced technology, it screens for issues related to blood, skin, and metabolism. Founded in Sweden, the company has raised nearly $1 billion and recently launched in New York, with a global waitlist of over 300,000 people. [Yahoo Finance]

G7 countries to release oil and diesel: Following pressure from US President Donald Trump, the Group of Seven nations pledged on Friday not to impose energy export limits and committed to releasing 100 million barrels of crude oil and diesel from emergency stockpiles. [Reuters] 

SASSA starts hiring: The South African Social Security Agency (SASSA) is currently hiring new employees to address staff shortages across the country. [EWN]

Trump’s new AI rules: On Tuesday, U.S. President Donald Trump introduced the government’s new AI chatbot, dined with major tech executives at the White House, and announced a voluntary agreement with companies like Nvidia, SpaceX, OpenAI, Anthropic, Meta, and Google to address safety concerns surrounding the technology. The agreement does not specify consequences for non-compliance, with Trump describing it as “morally binding.” [Reuters]