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Kogan was a major beneficiary of the online shopping boom during COVID lockdowns, when Australians splashed their stimulus cash on upgrading household items and gadgets. A slew of supply chain problems and piles of excess stock have prompted online retail giant Kogan to axe its earnings predictions for the current financial year, stunning investors and sending its shares plummeting. Ruslan Kogan’s 14.9 per cent stake in the company was worth nearly $400 million in October 2020, but is now worth $160 million due to the declining share price. Several market commentators have also noted that gold seems to have weathered a challenge from cryptocurrencies such as Bitcoin as a preferred alternative store of value. She added that Crown failed to launch a review earlier despite there being “red flags” about money laundering in its accounts dating back to 2014. The commission has uncovered more examples of money laundering in Crown’s bank accounts.

Warren Buffett warns of inflation risks amid ‘red hot’ recovery from pandemic – The Guardian

Warren Buffett warns of inflation risks amid ‘red hot’ recovery from pandemic.

Posted: Sat, 01 May 2021 07:00:00 GMT [source]

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