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In a recent turn of events, Argentina’s prospective move towards dollarization has garnered support from none other than the seasoned emerging-market investor, Mark Mobius. The president-elect, Javier Milei’s ambitious plan to adopt the US dollar as the official currency has received an enthusiastic endorsement from Mobius, who believes that such a shift could be an … Read more
In response to the surging demand for weight-loss drugs, pharmaceutical giant Eli Lilly (LLY) has unveiled plans to invest a substantial $2.5 billion in constructing its inaugural manufacturing facility in Germany. The high-tech plant, situated in Alzey, Germany, is anticipated to fortify Lilly’s injectable product and device manufacturing network. This strategic move comes as the … Read more
In a strategic move, Warren Buffett’s Berkshire Hathaway has recently made notable shifts in its investment portfolio. The conglomerate exited its positions in General Motors and Activision Blizzard, with the sale of the 22 million shares in General Motors being particularly noteworthy, valued at approximately $850 million. The sale of over 14.6 million shares of … Read more
As the holiday season approaches, the U.S. economy is showing signs of a slowdown, with retail sales experiencing their first decline since March. According to the Commerce Department, U.S. retail sales fell by 0.1% in October, reflecting a pullback in consumer spending at stores, dealerships, and gas stations. This downturn is attributed to various factors, … Read more
In recent weeks, two key recession indicators have stirred some concerns, causing investors to keep a watchful eye on the economic landscape. The first, known as the Sahm Rule, gauges a potential recession when the three-month average of the unemployment rate rises 50 basis points above its 12-month low. The second indicator involves an uninverting … Read more
In recent quarters, Saudi Arabia’s economy has faced a significant jolt, as the world’s largest crude oil exporter deliberately slashed its oil output to support global prices. The impact has been felt, with the country’s gross domestic product (GDP) shrinking by a notable 4.5% year-on-year in the third quarter of 2023. This contraction is the … Read more
After 34 years in Seattle, Jeff Bezos, the founder of Amazon, is embarking on a significant life change by relocating to Miami. The billionaire shared this personal transition in a heartfelt Instagram post, reminiscing about the early days when Amazon was just a small startup operating from his garage in Bellevue, Seattle. Bezos cited a … Read more
In a high-profile trial that has captured the attention of the financial world, Sam Bankman-Fried, the 31-year-old founder of FTX, has been found guilty on all charges in his federal fraud and conspiracy case. The verdict came after a little over four hours of jury deliberation and carries significant consequences. Bankman-Fried was charged with seven … Read more
Patrick Mahomes, the two-time Super Bowl MVP and star quarterback of the Kansas City Chiefs, is making waves both on and off the field. His recent foray into the world of Formula 1, with an investment in the Alpine F1 team, is just one example of his diversified portfolio. Mahomes’ net worth, estimated at $70 … Read more
Nvidia’s entry into the realm of Arm-based chips for Windows PCs signifies a significant shift in the semiconductor industry. By potentially challenging Intel’s dominance in the PC processor market, Nvidia aims to offer consumers a new choice in terms of hardware for their Windows machines. Microsoft’s pursuit of Arm-based processors for Windows PCs is part … Read more
