This compilation of financial-related insights includes videos from Lena Petrova, Tech Revolution, WTFinance, and The Rich Dad Channel.
Lena Petrova discusses Australia going cashless and what country could be next. Tech Revolution shares news of the real brutal truth that is crushing European companies. Bob Elliott joins WTFinance to talk about a potential 50% decline in the stock market. Robert Kiyosaki and Kim Kiyosaki are joined by Laine Schoneberger on The Rich Dad Channel to discuss student loan relief options.
Lena Petrova, CPA – Finance, Economics & Tax
Sep 6, 2023
Australia Is Going CASHLESS: What Country Is Next? | Cash Is No Longer King
Sep 6, 2023
As the sun sets over the majestic skylines of Moscow and Brussels, the fallout from a strategic exodus unfolds, and the balance sheets of once-confident firms are now marred by staggering losses.
The narrative is stitched together by threads of data and emotions, as we explore the complexities of this high-stakes game, where geopolitical forces clash with corporate aspirations.
Join us as we dissect the lessons learned, the unforeseen consequences, and the resilience of these businesses as they face a new reality, reminding us that in the world of commerce, every move carries a weight that extends far beyond spreadsheets and profit margins.
Now, what is happening in this part of the world? European companies have been hit with a hefty punch of about €100 billion in losses because of their ventures in Russia following the whole Ukraine situation.
The Financial Times spilled the beans on this one on August 7, after digging into info from about 600 European companies. What’s wild is that 176 of these companies had to deal with not just losing assets, but also expenses tied to changing foreign currency and other one-time costs due to selling off, shutting down, or scaling back their Russian operations, according to experts.
And guess what? These numbers don’t even factor in the bigger economic ripple, like those rising energy and commodity prices. Seems like things are getting pretty rocky for the business scene.
Moscow’s recent power moves, like snatching control of Fortum, Uniper, Danone, and Carlsberg, seem to be just the beginning.
There’s this data from the Kyiv School of Economics that says over half of the 1,871 European companies that used to do their thing in Russia before the war are still hanging in there, which is kinda brave if you ask me.
Oh, and we’re talking about some pretty big names here, UniCredit, Raiffeisen, Nestlé, and Unilever are in on this action. Turns out, even if a company took a hit by exiting Russia, those who stuck around are in for a rougher ride, according to Nabi Abdullayev from Control Risks. The quicker you made your exit, the smaller the losses.
Here’s a twist – in the oil and gas world, BP, Shell, and TotalEnergies faced a €40.6 billion loss in total. But, here’s where things get interesting, those higher oil and gas prices helped them make a jaw-dropping profit of around €95 billion combined in 2022.
Then there are the financial bigwigs, banks, insurance, and investment firms.They took a hit of €17.5 billion in write-offs and other costs. The utility companies didn’t have it easy either, clocking a direct loss of €14.7 billion. And the industrial folks, particularly the car makers, felt the pinch with a loss of €13.6 billion.
Now, who took the biggest punch? The financial fallout from the Russia-Ukraine conflict unveils a stark contrast between winners and losers. Among them, British companies bore the brunt, grappling with losses exceeding €30 billion, while Germany and France closely followed, each dealing with about €20 billion in losses.
But the impact wasn’t contained to a few nations. Finland, Italy, Austria, Ireland, Denmark, Belgium, and Switzerland all shared the bitter taste of financial setbacks. For those still holding their ground in Russia, it’s a risky game. Moscow’s tighter rules put their assets at risk of being seized, and dividends?
That’s a nearly impossible feat to achieve amid shifting regulations and dynamics. As these companies navigate this treacherous terrain, their resilience and strategic maneuvering come to the fore. Amid the uncertainty, they stand as a testament to adaptability in the face of evolving geopolitical and economic challenges.
For some reason, leaving Russia is no casual stroll in the park especially for corporations. Beyond the sanctions imposed by Western nations, the real shockwave emerged from private companies choosing to make their exit.
This strategic maneuver sent impacts through Russia’s economic landscape, exposing a significant reliance on external players’ actions for stability.
Curiously enough, when these Western enterprises initially set their sights on leaving, they embarked on a mission to find prospective buyers for their Russian assets, attempting to ensure a smooth transition. However, the plot thickens – the Russian government swiftly intervened, introducing barriers that made capital extraction a formidable challenge.
Sep 6, 2023
Interview recorded – 31st of August, 2023
On this episode of the WTFinance podcast I had the pleasure of welcoming back Bob Elliott – CEO & CIO of Unlimited Funds.
During our conversation we spoke about what Bob is currently seeing in the markets, whether this could lead to a 50% decrease in stock markets, whether this would also happen globally and more.
The Rich Dad Channel
Premiered Sep 6, 2023
Hosts Robert and Kim Kiyosaki and gust Laine Schoneberger discuss the student loan crisis and the role of entrepreneurs in finding solutions. They criticize the government’s involvement in the student loan industry and highlight the burden of student loan debt. Schoneberger introduces his company, Yrēfy, which focuses on helping borrowers with private student loans in distress. He and Robert discuss the lack of bankruptcy provisions for student loans and the rising costs of education. Laine explains how Yrēfy offers refinancing options to provide relief for borrowers. He emphasizes the need for better solutions and shares testimonials from borrowers who have benefited from Yrēfy’s services.
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