Economy and Markets

Bobbob Bytes: 9 September

September 9, 2022
By
Bobbob Team

Happy Friday from the Bobbob Team!


Inside this week’s edition:

▪︎ Your Local, International and financial news

▪︎ Some money-saving tips for times of high inflation

▪︎ August Winner Announced and stand a chance to win A$500!

🚨 Big News:

🌎 International:

▪︎ Queen Elizabeth II passed away overnight in the UK - at 73 years old, King Charles III takes the reigns.

▪︎ Apple unveiled a new lineup of devices: A new Dynamic Island on the iPhone 14 Pro, with always-on display and camera upgrades. Apple also released 3 new Apple Watches.

▪︎ Volkswagen to list Porsche in One of its biggest IPOs in Years: It’s suggested Porsche will list for between EUR 85-124 billion. Goal = inject cash into VW’s coffers to help its transition to electric vehicles and self-driving cars 🚗

▪︎ Liz Truss is the next UK Prime Minister after winning the Tory party vote. Truss’s first order of business, it’s suggested, is to try cut energy bills.

▪︎ British pound falls to its lowest level against the USD since 1985: Falling to $1.1407— a level not seen in 37 years — due to the U.K.’s darkening economic landscape and a new prime minister at the helm.

▪︎ Russia to buy millions of rockets and artillery shells from North Korea: Relations between Moscow and Pyongyang go back to 1948 when Soviet officials installed young Kim Il Sung, the late grandfather of Kim Jong-un, as the country’s first ruler.


🦘Local:

▪︎ Millions of Australians on Centrelink are getting the biggest cash boost in 30 years to combat the soaring cost of living. Economically, more money spent by the government equals inflation increasing… So what actually happens next?

▪︎ Australian central bank hikes rates by 0.5%. The Reserve Bank of Australia raised rates by 0.5% to 2.35%, as expected by analysts polled by Reuters. The Australian dollar has weakened following this move. 🔻

▪︎ Australian Federal Police forms a cryptocurrency unit to catch criminals. This unit is created to target illicit money transfers via crypto.

Why?

▪︎ Stocks End Lower, Extending Losses: The Nasdaq dropped and notched its first seven-day losing streak since 2016, while the USD strengthened as the world flights to the Greenback in these times of uncertainty.

▪︎ Overall, BTC traded down, as did ETH, despite its upcoming Merge, the Ethereum blockchain's shift to a faster, more energy-efficient proof-of-stake protocol expected to be completed around Sept 13. Due to the merge which started successfuly yesterday, ETH, which is usually more volatile than Bitcoin, recovered nicely and is only down 1.41% over the past 2 weeks.

🏆A$500 Monthly Referral Competition

Congratulations to our August winner Justin (referral code: justinixh) for earning A$500! 🥳

Thank you to everyone who participated! 💚

To those who never won, you have another chance to win A$500 in our September competition. Go on, start referring!

The Rules:
Each month, the Bobber that refers the most amount of new customers will get A$500 paid directly into their Bobbob Account! Sound good? We think so too.

To count as a successful referral, all your friends need to do is deposit at least A$99 into their account!

T&Cs apply

🌳 Planet Earth

'Zombie ice' from Greenland will raise the sea level by 10 inches.

A new study finds that Greenland has more than 120 trillion tons of ice that can be thought of as zombie ice that is rapidly melting. This will raise the sea level globally by at least 27cm, more than twice as much as previously estimated.


These zombie ice, also known as doomed ice, are thicker areas of ice that is no longer getting replenished by parent glaciers.

📰 Hot off the Bobbob Press

Want to know some money-saving tips that will make saving money effortless? Read more on our blog here.

Yours truly,

The Bobbob Team

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