Monthly Archives: October 2022

Mukesh Ambani, the second-richest person in Asia, joins the list of ultra-rich people opening a family office in Singapore

Mukesh Ambani, chairman of Reliance Industries, is setting up a family office in Singapore. Lewis Whyld/PA Images via Getty Images Mukesh Ambani, the second-wealthiest person in Asia, is setting up a family office in Singapore, per Bloomberg. Ambani is the chairman of Reliance Industries, a multinational conglomerate headquartered in Mumbai. Many ultra-rich people have established…

On his 70th birthday, Putin hoped to be leading a resurgent Russian empire. Instead his army is in retreat and his enemies are united against him like never before.

Russian President Vladimir Putin attends the Orthodox Easter service in the Christ the Savior Cathedral in Moscow, Russia, Sunday, April 24, 2022. AP Photo/Alexander Zemlianichenko, Pool, File Russian President Vladimir Putin turned 70 on Friday. When he invaded Ukraine, he hoped to have comfortably conquered the country by now. Instead he’s facing domestic unrest, military…

Today’s mortgage and refinance rates: October 7, 2022 | Rates inched down this week

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. Mortgage rates went down slightly this week. The average 30-year fixed mortgage…

Sanctioned Russian billionaire’s $500 million superyacht leaves Russia after 7 months to sail to Hong Kong

Nord, a luxury yacht believed to be owned by Russian billionaire Alexei Mordashov, has sailed from Russia to Hong Kong. Getty Images/PAVEL KOROLYOV/AFP via Getty Images A superyacht owned by a sanctioned Russian billionaire left Russia after seven months for Hong Kong. Alexei Mordashov, Russia’s third-richest person, is said to be the owner of $500…

Wharton professor Jeremy Siegel says the Fed is ‘slamming on the brakes way too hard’ – and the risk of a recession is very high

Wharton professor Jeremy Siegel. CNBC/Getty Images The Fed is “slamming on the brakes way too hard” with its rate hikes, Jeremy Siegel said on Friday. The Wharton professor warned the US economy is extremely likely to suffer a recession. Siegel noted that inflation data lags economic reality, and said the worst price increases are over….

The US dollar has surged this year. The world’s largest wealth manager explains why that dizzying rally isn’t done yet.

Happy Friday, readers. Hallam Bullock here, reporting from London.  There’s a key US jobs report dropping at 8:30 a.m. today. It may seem like nonfarm payrolls have been a B-list macro datapoint since the Consumer Price Index has taken the spotlight all year, but the September report is of particular importance.  The Fed will be…

Credit Suisse shares jump 7% after the embattled bank launches a $3 billion bond-buyback program

Credit Suisse shares rose on Friday after the Swiss bank said it would repurchase about $3 billion of bonds. REUTERS/Denis Balibouse Credit Suisse shares rallied 7% and the cost of its insuring its debt dropped Friday. Investors welcomed the Swiss bank’s plan to buy back about $3 billion worth of bonds. Credit Suisse was rocked…

Putin ally suggests Russia’s defense minister should kill himself over how badly the Ukraine invasion is going

Russian President Vladimir Putin, right, and Russian Defense Minister Sergei Shoigu outside Moscow, Russia, Aug. 23, 2021. Evgeniy Paulin, Sputnik, Kremlin Pool Photo via AP A pro-Russian politician in Ukraine lashed out at Russia’s Minister of Defense Sergai Shoigu.  Kirill Stremousov, installed as Putin’s puppet in Kherson, said Shoigu should shoot himself.  It comes amid…

‘A slap in the face’: Leaked documents show Amazon warehouse workers are upset over the company’s new raises

Welcome to the weekend (almost). Writing to you from New York, I’m Jordan Parker Erb.  It’s a jam-packed edition today: We’ve got an inside look at leaked messages from Amazon workers who aren’t pleased with the company’s new raises, and the latest details on the Elon Musk-Twitter showdown. Plus, a 34-year-old shares how he knew…