Elon is the headline, yet again
Elon Musk, the CEO of Tesla has been finding himself in the midst of extensive media coverage yet again. This time, he has been accused of alleged sexual misconduct by a SpaceX flight attendant. It was told that she received $250,000 for her silence, of which Elon had outright stated that is is "utterly untrue"
Not only that, Elon came out that he was going to be voting Republican in the next election, in contrast to what he said that he has voted Democratic his whole life. He then warned of "dirty tricks" that will be used against him
Worse before better?
Petrol prices at pumps hit new highs in Singapore, blowing past the previous peak in March. a litre of diesel is up almost 15% higher while petrol is up nearly 0.5% higher.
This is similar to the US, where prices are averaging at $4.58 per gallon. This is despite the fact that crude oil remains nearly 15% down from its peak in March.
This is happening as inflation is ripping throughout the world, putting a pressure on the cost of living.
UK suffers
This week, the United Kingdom reported their CPI. The inflation rate jumped to 9%, which is the highest in 40 years as energy bills hit millions of households.
It has gotten so bad that a quarter of British citizens have resorted to skipping meals to cut down on expenditure as inflationary pressures and a food crisis elevate the cost of living in the UK.
This is despite the fact that the bank of England hiking interest rates at four consecutive meetings, starting even before the US Federal Reserve started increasing rates.
NIO in singapore?
Nio has completed its listing in the Singapore stock market, being the first Chinese EV maker to be triple-listed, on the HK, US, and SG markets.
Nio has stated that they listed in Singapore in the hopes to further strengthen their footing in global capital markets and improving their global business development. They also hope to reduce the impact of a potential delisting in the US markets.
Singapore's growing inflation rate?
Singapore’s core inflation accelerated to 3.3% year-on-year in April. This is the highest since January 2012, when core inflation came in at 3.5%.
The increase was driven by higher inflation for food, retail and other goods as well as electricity and gas, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said in a joint release.
The headline consumer price index, or overall inflation, came in at 5.4 per cent year-on-year in April, the same as in March, as private transport inflation moderated.
Upcoming events
Monday, 23 May
Singapore - CPI (April)
Tuesday, 24 May
Euro Zone - Manufacturing PMI (May)
United Kingdom - Services / Composite / Manufacturing PMI (May)
United States - New Home Sales (April)
Singapore - GDP (Q1)
Wednesday, 25 May
United States - Core Durable Goods Orders (April)
United States - Crude Oil Inventories
United States - FOMC Meeting Minutes
Thursday, 26 May
Singapore - Industrial Production (April)
United States - GDP (Q1)
United States - Initial Jobless Claims
United States - Pending Home Sales (April)
Friday, 27 May
United States - Goods Trade Balance (April)
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