Sharing some Investing and Economic insights:
THREE things you need to know this week;
1. Oil prices fell due to a record high COVID-19 cases in major cities in China, dashing hopes of the reopening of the economy of the world’s biggest oil importer.
2. US stocks had their biggest weekly rise in months after lower than expected inflation data (7.7% in October, compared to economist’s forecasts of 7.9%) fuelled speculation that the US Federal Reserve would slow down the pace of interest rate hike.
3. Lastly, a shock to the cryptocurrency world – one of the largest crypto trading platform, FTX, filed for bankruptcy after Binance, a rival platform, pulled out from a deal to rescue the company. FTX has just been valued at US$32 billion in January this year.
Raiz is about helping you save & invest more – being able to save 5% of your salary is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).
Do you know?
Red Bull (yes, the energy drink!) owns half of the world energy-drink market; and two Formula One racing teams.
49% of Red Bull shares is owned by Mark Mateschitz, a 30-year-old Austrian (not Australian), who inherited the shares following the death of his father last month.
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