MoneyMax101 | Intl News Review: UK Borrowing in September rises to £36bn

Hello, MoneyMax101 readers! Here’s your news review. A summary of some of the biggest global news stories this week.

UK borrowing in September rises to £36bn

BBC News – Business / UK – Wed Oct 21, 2020

Key Takeaway: Good read to learn more about the UK economy. What we found interesting was the interest rate at which the UK is able to borrow.

“The national debt is now 103.5% of the size of the UK’s economy, as measured in gross domestic product (GDP). The last time debt as a proportion of the economy was so large was 1960. Prior to that a peak of almost 250% was reached in the aftermath of World War Two. Under normal circumstances, such a high ratio may put off lenders to the UK. However, the government can currently borrow money for 10 years at 0.19%.”

Jamaica also did some borrowing recently, guess the rate?

Gilead’s Virus Drug Remdesivir Gains Approval From FDA

Bloomberg Markets and Finance / USA – Thu Oct 22, 2020

Key Takeaway: This allows them to use it more widely. Market it, charge more etc

Gilead’s Remdesivir Becomes First Covid-19 Drug to Win FDA Approval

QuickTake by Bloomberg / USA – Thu Oct 22, 2020

Key Takeaway: Gilead charges $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries, and $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors.

Jim Cramer on Tesla earnings: The doubters were wrong, the believers were right

CNBC Television / USA – Thu Oct 22, 2020

Key Takeaway: TSLA up a massive 400+% this year. One of the most anticipated results this week. Look at the 52 W range below. Massive

TSLA Close: 420.63 52w Range: 57.84 – 502.49 Mkt Cap: $392.67b

Quibi CEO: Shutting down operations was most honorable choice for shareholders

CNBC Television / USA – Thu Oct 22, 2020

Key Takeaway: Victim of the streaming wars. Who’s next?

Ant Gets Approval for Shanghai IPO

Bloomberg Markets and Finance / USA – Wed Oct 21, 2020

Key Takeaway: One of the biggest IPOs ever…. coming soon.

The mammoth dual listing for Chinese fintech giant Ant Group will be the world’s biggest, according to a pricing determined on Friday night, Alibaba founder Jack Ma said.

Sources have said the listing could be worth $35 billion, surpassing the record set by Saudi Aramco’s $29.4 billion float last December.

Ant has an extensive payment and micro-lending business. Source