Most of the world’s problems are rooted in debt. Take for example how the ballooning debt of a single proper developer roiled global markets last week. An agreement to settle some local note interest payments eased the anxiety but the problem is far from over as the bad news out of China continues to negatively impact markets and keep emerging market currencies on the backfoot.
On Friday, the rand was hammered as thin liquidity saw the local unit trade above the R15.00-level to the US dollar before closing 1.4% weaker at R14.94, writes TreasuryONE in its morning note to clients. The currency opened the new trading week this morning relatively flat at R14.92 as the dollar has retreated from Friday’s stronger levels.
Back to the debt problem, narrow it down to the power-hungry preying on the desperation of individuals and you have the perfect conditions to pit dog against dog in a show that would get addicted viewers thinking about the choices they make – or rather the illusion of choice in a money-driven world.
Netflix’s latest smash hit Squid Game, currently the second most-watched show after Blood & Water in South Africa, is a horrific game contextualised in this reality where the 456 competitors choose to be there, first not knowing that their lives are at stake in a series of deadly games for a grand prize of 46bn Korean won, but then they go in with their eyes wide open.
In the real world, investors are cashing in, snapping up shares of at least two companies related to the thriller series. And according to Bloomberg, the show is an example that Korean companies can pose a serious competitive threat to Hollywood’s powerhouses.
The show begs the question: Can justice exist in an unequal society?
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
Director-General Sandile Buthelezi suspended over his role in Digital Vibes scandal – Daily Maverick
South Africa miners back gradual move away from coal-fired power – Bloomberg
How much money Johann Rupert’s Remgro makes from each of the companies it owns – MyBroadband
Global Business
UK petrol stations run dry as trucker shortage sparks panic buying – SCMP
Elon Musk’s Tesla Bot raises serious concerns – but probably not the ones you think – Daily Maverick
A Bitcoin miner is buying power plants to mine crypto now – Mashable
Markets
Asian markets start week with gains but eyes on Evergrande – AFP
Oil up, remains above $75 mark, as market continues to tighten – Investing.com
Precious metals bull market not over yet, analyst says – Forbes
Opinion/In-depth
A granular look at UK’s COVID-19 ‘red list’ shows why it’s deeply flawed – The Conversation
Vumacam’s ‘hundreds of thousands of cameras’ will be watching you – Daily Maverick
Uranium: what the explosion in prices means for the nuclear industry – The Conversation
Video
Fuel fears spark panic buying at UK gas stations – Reuters
Apple against Brussels’ bid to have one charger for all smartphones – Euronews
Germans rush money to Swiss banks before election – Reuters
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