Congrats to Saudi Arabia who wins bid for 2030 world fair, beating Italy, S. Korea.
The Saudi Arabian capital of Riyadh won the right to host the Expo 2030 world fair, vote results showed on Tuesday, in another diplomatic victory for a Gulf country after last year's soccer World Cup in Qatar. South Korea's port city of Busan and Rome in Italy were also in the running to host the five-yearly event that attracts millions of visitors and billions of dollars in investment. “Our goal in the Kingdom is to organize the first environmentally friendly exhibition that achieves a zero level of carbon emissions,” Expo blueprint team member Eng. Nouf Bint Majid al-Muneef said. “The Riyadh Expo 2030 site will be powered by clean resources that rely on solar energy, and we are developing high standards for resource efficiencies and detailed strategies to enhance biodiversity, eliminate food waste, and ensure green waste management and recycling.” Source: Reuters, Al Arabiyah
Food for Thought
The right mentality
US GDP update shows US economy grew at more robust annualized rate of 5.2% in Q3, revised from +4.9% and after +2.1% QoQ in Q2
The Q3 contribution from inventories was +1.4%, revised from +1.3%, after 0% in Q2. Contribution from consumers +2.4% revised down from prev 2.7%. Contribution from net exports was -0.04%, revised from -0.08%, after +0.04% in Q2. Source: HolgerZ, Bloomberg
7 Timeless Principles of Effective Money Management
Source: Investment Books (Dhaval)
Record holiday spending: good news, just one problem: consumers used buy-now-pay-later schemes to spend $7.3BN from Nov. 1 to Nov. 26, up 14% from a year ago, per Adobe
These are basically vendor/3rd party financing programs which don't show up on already maxed out credit cards... Source: Statista, www.zerohedge.com
The US National Debt has now increased by $2.36 trillion since the debt ceiling was suspended less than 6 months ago
Fast approaching $34 trillion. Source: Charlie Bilello
waouuu...
Are US homes sellers so desperate?
Fast-fashion giant Shein has filed confidential paperwork for a potential public listing in early 2024
seeking a valuation of up to $90 billion (per Bloomberg), which would make the 15-year-old company more valuable than Lululemon and H&M combined. Established in China in 2008 as ZZKKO, Shein puts the fast in fast fashion: dropping as many as 10,000 new items on its website every day, producing items in small batches (50-100), and only ramping supply reactively for any products getting a lot of demand. Its wallet-friendly offerings — like earrings for less than 50¢ — have won over young consumers across the world, with its US customer base helping to catapult the company’s sales up 45% year-over-year, to $23 billion in 2022. Source: Chartr
