Financial Virgin - Issue 27
Grinch stealing Xmas, Tobacco under Threat and so much more this week.
Good morning, everyone. Another Thursday has passed us by and it’s officially Friday and one step close to the weekend!! 🍻
Every major index ended the day red. 💔 The S&P 500 slipped 1.2% which lead others to follow. Initial unemployment claims for the previous week totaled 362,000. According to Dow Jones, economists expected a total of 335,000. That sucks. 😬
🎁 A Supply-Strapped Holiday Season?
About a month ago, COVID lockdowns throughout Vietnam (a mega manufacturing hub for major US brands) posed serious issues for companies adapting to post-COVID demand. Believe it or not, its getting worse. Nike lost out on 100 million pairs of shoes due to Delta variant-related lockdowns in Vietnam. 👎 Read more here
🧠 YouTube bans anti-vaccine misinformation
Nine months since the vaccine rollout began, YouTube has decided to ban anti-vaxxers. (read more here WSJ)
⏳ Time Is Money
Treasury Secretary Janet Yellen has put lawmakers on notice: the U.S. is running out of money. That’s right, the money printer might not go brrrr anymore. 🥶 Unless, of course, Congress raises the debt ceiling. Yellen has said that if Congress fails to raise or abolish the debt ceiling by mid-October, the U.S. will default on its debt for the first time in history. Yeah that’s… not good. EEEEK! more here
🎶 TikTok gets into NFT’s
the video-sharing social networking site launched a non-fungible token (NFT) collection that will see its top content creators partner with top NFT creators. TikTok fans will be able to buy their favorite ‘moments,’ and the platform has even created its own digital auction for the sale. 🎨 ✨
🚬 They coming for Tobacco
Philip Morris International and Altria, two tobacco giants, have been been ordered to stop the sale of their heated tobacco device, IQOS. 🙅A rival in the tobacco space, R.J Reynolds says they have supposedly violated a patent of theirs. More here
💸 Panic buying is more rational than you think
Although it's obviously deeply unhelpful on a large scale, read more here
🚀Big Boost for Bitcoin
The fifth-largest cryptocurrency by market cap, soared nearly 10% today. The move came on the heels of Binance Coin’s quarterly burn event.Every quarter, Binance buys back a large amount of $BNB.X to burn (coin burning permanently removes coins from the network.) With a reduced supply, tokens that remain in circulation theoretically become more valuable due to scarcity. In turn, that pushes prices up. 🔥 Binance burned $390 million worth of $BNB.X in Q2 2021.
DID YOU KNOW
Microsoft has been keeping up with things, for a change. I introduce to you Microsoft mesh. If you are familiar with Star Trek, think of the Holodeck and you will get the gist of Microsoft Mesh 😊
Microsoft Mesh is a mixed reality platform combining virtual and augmented reality that connects the physical and digital worlds together, allowing users to transcend the time and space boundaries we know.
LINKS THAT DONT SUCK
This is the etiquette when it comes to cats and Zoom calls.
Some ammonites were seriously massive
A cheat sheet for all the antitrust cases against Big Tech.
📺 Netflix’s “Squid Game” On Track To Be Netflix’s Biggest Show Ever (watch it TRUST ME!)