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Providing you unbiased latest updates on finance, technology, business and politics from every corner of the world.
Fresh financial headlines to keep you up-to-date
- The ECB hikes interest rates by 0.75% and they indicated more to come: this is a clear attempt to tame hot inflation in the Eurozone, before entering into a recession.
- Elon Musk has officially acquired Twitter: was the deal overrated?
- Amazon is literally diving and the other tech giants, Alphabet and Microsoft, announced slower revenue growth as customers cut spending. Meta-verse is still too slow in the mass adoption run.
- Rishi Sunak, Britain’s third prime minister in two months, promises stability. But this is not enough for the U.K. (From CBC: https://www.cbc. ca/player/play/2089491523580)
- Native-born women in U.S. and Latin America had more babies during the pandemic (Sources: “The covid-19 baby bump: the unexpected increase in US fertility rates in response to the pandemic”, by M.J. Bailey, J. Currie and H. Schwandt, National Bureau of Economic Research, 2022, working paper; National Centre for Health Statistics; kidscount .org)
- Rapidly falling launch costs and fleets of new satellites are opening up big opportunities for business. Should we increase the space stocks’ percentage? (From Harvard Business Review, November–December 2022)
- Uncertainty and investment themes: looking back seven decades we see performance leadership has never repeated, a different asset class has emerged every time. Check this interesting chart from Alpine Macro:
- ExxonMobil stock (NYSE: XOM) rose 2.2% after the energy giant reported record profits, boosted by higher natural gas prices and strong cost controls. XOM made about +75% YTD. Check the Muphasa’s post (@simbastrial):
- Credit Suisse storm: the treatment is in place. They raised $4 Billion to fund sweeping overhaul (From Bloomberg: https://www.bloomberg .com/news/articles/2022-10-27/credit-suisse-to-raise-4-billion-to-fund-a-sweeping-overhaul)
- Twitter is working on a “wallet prototype” that supports “crypto deposit and withdrawal”. We don’t know if and how blockchain will be integrated in Twitter but we currently know that Binance (CZ), wired $500M to back Musk’s Twitter takeover.
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