Singapore has over 200,000 millionaires, with over 1,000 of them considered to be ultra high networth individuals worth over $68.9 million. With films like Crazy Rich Asians giving us an idealised version of high-income spending, imagining the spending habits of the ultra-rich can make the mind wander. While there are plenty of articles about how the rich spend their money, we were interested in the hard figures of their expenditures. Using the most recent Household Expenditure Survey, we analysed the spending of upper-income households to see how they really spend their money. KEY FINDINGS: High-income households spend more money on cultural experiences and travel Households in the 91st-100th income decile spend the least on children's pocket allowances High-income households spend the least on tobacco products Despite differences on a granular level, there are many similarities between high-income and mid-income household expenses WHAT DO HIGH-INCOME SINGAPOREANS SPEND MONEY ON? … [Read more...] about What do Singapore’s rich spend their money on?
Estimating money worksheets
Business Amazon.com Inc fell short of second-quarter profit estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players globally and invested more in marketing and faster delivery. 26 Jul 2019 04:16AM (Updated: 26 Jul 2019 04:26AM) Bookmark REUTERS: Amazon.com Inc on Thursday reported second-quarter profit below analysts' estimates, as the world's biggest online retailer spent more money on faster delivery of packages to Prime members.Shares of the company were down nearly 2per cent at US$1939.05 in extended trading.Amazon's operating expenses surged about 21per cent in the quarter to US$60.32 billion as it invested US$800 million in the second quarter for its one-day delivery program.The company forecast net sales in the range of US$66 billion and US$70 billion for the third quarter. Analysts were expecting revenue of US$67.27 billion, according to IBES data from Refinitiv.Net sales in North America, its … [Read more...] about Amazon misses second-quarter profit estimates on higher costs
This is unsettling: all the talk of money being distributed to the nation’s legislators in exchange for their votes in the heated speakership race. A few weeks ago, people expressed disgust at the rampant vote buying that happened on the eve of elections. It was the only way electoral contestants could go around the instant counting enabled by the automated system. The speakership contest, it seems, opens an opportunity for the winning politicians to recover the money they had so freely distributed in the streets. This time, it is their votes as congressmen that are on the bidding block. Pantaleon Alvarez first broke the news about the money on offer in the mad contest for Speakership. He quoted estimates ranging from P500,000 to a million being distributed to win support from legislators. Alvarez, who is lamely posturing for the post, has the credentials to speak on the role of money in winning support in the House. During his shortened term as Speaker, public works projects … [Read more...] about Money
SAN FRANCISCO: The underwriters of Uber Technologies' initial public offering on Tuesday overwhelmingly recommended the company's shares, even as they estimated deeper losses than previously expected for the ride-hailing service this year.With the end of a quiet period related to Uber's disastrous IPO last month, at least 15 banks involved in the public listing initiated analyst coverage of the company, all of them positive except for Citi's "neutral" rating."Uber is a transformational company that should benefit from secular shifts to the sharing economy (Rides), time saving services (Eats), and more efficient marketplace evolution (Freight)," Bank of America analyst Justin Post wrote in his report, setting a US$53 price target.Uber's stock was up 2.4per cent at US$42.22. Still, shares have dropped 6per cent from the price set in the May 9 IPO amid investor worries over whether the company is able to make money.About US$5 billion of Uber’s stock market value has evaporated since … [Read more...] about Uber’s IPO underwriters recommend buying, estimate deep losses
caption “Avengers: Endgame.” source Disney Disney updated its box-office figures on Monday for “Avengers: Endgame.” It made $6 million more domestically on Sunday than originally projected. That brings its domestic total to $356 million. The movie’s international box office also increased. Now its global total is $1.222 billion. Visit Business Insider’s homepage for more stories. Throw more money into the Disney vault. “Avengers: Endgame” had a better Sunday than what was originally projected by the studio. On Monday, Disney updated the weekend box-office take for its record-breaking Marvel movie. The movie was originally projected to bring in $84.3 million on Sunday, but it actually took in $90.3 million. That brings its total domestic gross to $356 million. The movie also upped its international gross to $866 million. The up-to-date global gross for “Endgame” is $1.222 billion over five … [Read more...] about Disney was off with its box-office estimates — and it turns out ‘Avengers: Endgame’ made even more money