2022-02-28 09:42:20
Monday, 28 February 2022 - 60 Second Finance
1. The tensions between Russia and Ukraine have everyone either up in arms or buying arms. Germany’s chancellor has announced a €100bn fund to modernise the German military. Russia provides Germany with 55% of its imported gas and the European bloc is dependant on Russia for 40% of its gas needs. 'Messy' is an understatement
2. The Russian ruble is down by 35% against the US Dollar. Due to the sanctions against Russia (freezing some assets of the Russian central bank) it is now prevented from using its $630bn international reserves. Imagine having a rainy day stash that you can’t use when it starts raining.
3. Remember our open question on whether Tim Cook, CEO of Apple, should be getting all the stacks from Apple? Looks like sone of the big boys disagree, and want the smoke instead. The world’s largest sovereign wealth fund, Norway’s oil fund, will vote against Apple’s pay policies, including $99mn in salary and bonuses for Tim Cook. They own 1% of Apple, so don’t expect this to go anywhere.
4. Busy week lies ahead for the local markets. Headline economic data, like SA’s January trade balance results and the Absa manufacturing purchasing managers’ index (PMI) for February is out this week. These are some of the best indicators on how the SA economy is looking.
5. Today in 'How does living in SA get more expensive,' On the 2nd March 2021, Monday, 28 February 2022 - 60 Second Finance
1. The tensions between Russia and Ukraine have everyone up in arms. Germany’s chancellor has announced a €100bn fund to modernise the German military. Russia provides Germany with 55% of its imported gas and the European bloc is dependant on Russia for 40% of its gas needs. 'Messy' is an understatement
2. The Russian ruble is down by 35% against the US Dollar. Due to the sanctions against Russia (freezing some assets of the Russian central bank) it is now prevented from using its $630bn international reserves. Imagine having a rainy day stash that you can’t use when it starts raining.
3. Remember our chat on whether Tim Cook, CEO of Apple, should get most apples from Apple? Looks like other people are having the same chat, the ownership kind of people. The world’s largest sovereign wealth fund, Government Pension Fund Global (GPFG) or also known as Norway’s oil fund will vote against Apple’s pay policies, including $99mn in salary and bonuses for Tim Cook. GPFG owns 1% of Apple.
4. Busy week lies ahead. We are expecting SA’s January trade balance results and the Absa manufacturing purchasing managers’ index (PMI) for February which is based on a survey from respondents in the manufacturing sector conducted by the Bureau for Economic Research, which covers activities such as new sales orders, business activity, and employment.
5. Today’s headline in 'How does living in SA get more expensive’, both grades of petrol will rise by R1.46 on Wednesday. All the other relevant flammable fuels are naturally also getting more expensive. This is a great example of how we’re all directly and materially impacted by global affairs
1.6K viewsShawn Michaels, 06:42
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