☕️ British aeronautical engineer "very confident" to have identified MH370 plane location
Former PM Muhyiddin optimistic PN will be people's choice for GE15. Didi to delist in Nasdaq, relist in Hong Kong. Thai conglomerate Central Group to acquire Selfridges & Co for GBP4 bil.
1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
1.6 million sq kilometres — the size of the Great Pacific Garbage Patch, thought to hold the most floating plastic, 79,000 tonnes. Scientists have found plants and animals, including anemones, tiny marine bugs, molluscs and crabs on 90% of the debris.
Some USD2.5 billion worth of leveraged cryptocurrency positions were liquidated over the weekend as Bitcoin prices fell as low as USD41,967, losing 22% of its value. The cryptocurrency market has always been volatile, so enter the space with precaution. Do your own research (DYOR)!
USD50 for a whistle, and it’s sold out. Inspired by Cybertruck, the limited-edition Cyberwhistle is a premium collectable made from medical-grade stainless steel with a polished finish. Some resellers on eBay are selling it for USD399.99.
3. COVID-19 SUMMARY
Omicron has landed in Malaysia. The index case was a fully vaccinated 19-year-old girl from South Africa who arrived in Malaysia on Nov 19. All of her close contacts tested negative.
The United Kingdom tightens travel requirements as travellers into the country have to take a Covid test within 48 hours before their departure.
Early data suggest the Omicron variant is more contagious than the Delta variant. Scientists also say it is too soon to determine if Omicron can cause more severe disease.
4. IN MALAYSIA 🇲🇾
Richard Godfrey, a British aeronautical engineer, claimed that he had managed to find Malaysia Airlines MH370 plane’s final location that went missing seven years ago, according to BBC. He combined different data sets from separate domains and claimed that the plane crashed into the Indian Ocean 2,000km west of Perth.
In a separate interview, Godfrey said that he was “very confident” he had found the plane. Godfrey was a founding member of the MH370 Independent Group.
Perikatan Nasional chairman Muhyiddin Yassin is optimistic that the PN coalition will be the choice of the people in GE15 as the administration was caring and run with integrity.
It takes a lot of blind confidence to make such a statement, especially after losing badly in the Malacca state election.
Johor police have crippled a human trafficking ring with the arrest of 12 suspects, including one of the syndicate’s masterminds. Each foreigner is charged RM1.3k to get into Malaysia from Batam or Tanjung Pinang in Indonesia by sea and RM1.5k to bring them back to Indonesia from Malaysia.
Perodua targets to deliver 30,000 units by month-end with over 200,000 units sold for 2021 and aims to hit 240,000 sales in 2022.
Genting Cruise Lines, together with Penang Port Commission and Penang Port Sdn Bhd, announced that the government has granted approval for Star Cruises to restart operations in Malaysia on 22 Dec, with Star Pisces offering a safe cruise from Penang.
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5. AROUND THE WORLD 🌎
Chinese ride-hailing giant Didi Global will delist from the New York Stock Exchange (NYSE) and move its listing to Hong Kong. Shareholders of its US-listed shares — including Softbank, Alibaba, Tencent and Uber — will be able to convert their holdings to those on another stock exchange.
Within days of the initial public offering (IPO) back in June, Beijing announced a crackdown on technology companies listing overseas. Didi Global shares have lost more than 40% of their value since their US market debut.
Former President Donald Trump’s new social media venture, Trump Media & Technology Group, and Digital World Acquisition, said they have entered into subscription agreements to raise about USD1 billion from a group of investors. The new enterprise will be in operation by the first quarter of 2022 and plans to start a social media company called Truth Social after he was kicked off Twitter Inc. and Facebook Inc. platforms.
The Weston family, who owns Selfridges & Co, has agreed to sell the British department store operator to Thai conglomerate Central Group for an undisclosed amount, believed to be £4 billion. Selfridges and Central Group declined to comment. Trophy assets such as Selfridges’s giant store on Oxford in Britain have attracted interest even as the retail business on major shopping streets suffers.
The US government dodged the risk of shutting down after the Democratic-controlled U.S. Senate last Thursday passed a bill to fund the government through mid-February 2022 before the funding was set to run out at midnight last Friday. The US federal government is approaching its USD28.9 trillion borrowing limit and any failure to extend or lift the limit in time could trigger an economically catastrophic default.
Creditors can slide into DMs (direct message) of millions of Americans who have loans when they default. The new rules enacted by the Consumer Financial Protection Bureau (CFPB) was approved by Donald Trump’s administration last year. Consumers can opt-out of these messages, but creditors do not need permission to contact people. Only in America!
If you can’t follow the warp-speed of NFTs and blockchain companies, you may want to consider investing in NFTZ — an exchange-traded fund that will give investors exposure to the booming world of non-fungible tokens. Created by Defiance ETFs, the novel fund invests in companies with exposure to the NFT market and blockchain and cryptocurrency ecosystems.
Not financial advice (NFA!)
Cryptocurrency exchange Binance wants to become a registered crypto-asset firm in the UK in six to 18 months after its regulator told it to halt operations earlier this year. Binance could offer products such as futures and derivatives in the UK should the Financial Conduct Authority (FCA) approve Binance to operate.
On another note, Charlie Munger wishes cryptocurrencies were never invented and supports China’s move to ban them. He was quoted saying, “I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilisation.”
Mt Semeru on Java island erupted over the weekend, forcing thousands of villagers to flee. Thus far, the eruption has claimed fourteen lives. Rescuers in Indonesia are still searching for survivors in villages. Mt Semeru is among Indonesia’s almost 130 active volcanoes and is in a near-permanent state of eruption. NSFW footage of the eruption below.