💰 Big Oil's just bragging at this point

Big Oil's profit keeps getting bigger | Volkswagen's spluttering and stalling | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for October 31st in 3:11 minutes. 💸 Fancy a free £70? [Tap here]( to get [6 free months of Finimize Premium]( (£40) and [3 free months of Revolut Premium]( (£20) – you’ll even find £10 of cash in your Revolut account, on us.  [Claim it all here]( Today's big stories - Oil giants Exxon Mobil and Chevron reported hulking profit for the quarter - There might be a new worldwide hub for crypto, and it could surprise you – [Read Now]( - Volkswagen reported worse-than-expected results, and Porsche cruised ahead only a month after going public All Pumped Up [All Pumped Up] What’s Going On Here? Big Oil’s only getting bigger: Exxon Mobil and Chevron reported staggering results on Friday. What Does This Mean? Exxon and Chevron are the latest big energy firms to report piled-up profit this year. Exxon, for starters, boasted its strongest quarter in its 152-year history. The oil and gas behemoth’s earnings nearly [tripled]( from the same time last year to hit a more-than-expected $20 billion, pumped up by extra production and bumper natural gas prices. Chevron’s results weren’t too shabby either: it almost [doubled]( its profit to hit the $11-billion mark, just shy of the record earnings it made the quarter before. Investors celebrated by sending the two companies’ shares higher on Friday, meaning both stocks have now outperformed the wider market by over 70% this year. Why Should I Care? The bigger picture: Mo money, mo problems. Exxon’s shareholders will be seeing green, despite their tolerance for dirty fuel: the firm’s increasing its dividend by 3%, which – when layered on top of its $15 billion-a-year share buyback program – means shareholders should see an immense $30 billion cash back this year. But the US president might have something to say about that: he recently [accused]( Exxon of making “more money than God”, and wants the firm (and its heavy-hitting rivals) to invest more in production, which should lower prices at the pump. He might have a point: Exxon’s long-term spending is locked just short of $23 billion a year, 30% below its pre-Covid levels. For markets: Big Tech’s old news. Big Tech will be watching Big Oil with envy: tech giants have held the S&P 500’s top spots for the past decade, but their worse-than-impressive earnings have shaken up the seating chart. Exxon, for one, has overtaken Meta’s market value and is back in the index’s top ten stocks for the first time since 2019. After all, Exxon’s predicted to make over $50 billion in profit this year, more than Amazon and Meta combined ([tweet this](). You might also like: [How to analyze – and invest in – oil giants.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=All Pumped Up&utm_campaign=daily-global-31-10-2022&utm_source=email) Analyst Take Is the UK About To Become The World's No. 1 Crypto Hub? [Is the UK About To Become The World's No. 1 Crypto Hub?]( By Jonathan Hobbs, Analyst Rishi Sunak, the UK’s newly seated prime minister, has said he’d like to see the fifth-biggest economy become [the world’s crypto hub](. So it’s not surprising that there’s [a lot of speculation]( about whether that’s actually about to happen. The idea is that he might push to legitimately [regulate crypto assets]( – a move that would lend new credibility to the industry, and bring new investors into the fold. So that’s today’s Insight: [is Britain poised to become the world’s crypto hub?]( [Read or listen to the Insight here]( Finimize x Revolut Pretty good stuff, right? Our analysts write Insights like this every day, and you can read every single one of them with [Finimize Premium](. There’s no better time to get started: our new partnership means you can get [six free months of Finimize Premium]( and [three free months of Revolut Premium]( if you [sign up for Revolut today](. We’ll even send you £10 (or equivalent) to your Revolut account to get you started. Enter our monster giveaway We’re taking the “trick” out of “trick or treat”, and giving you the chance to [win $250](. Yup, no stale candy or monkey nuts: all you need to do is [be one of the first 500 to sign up for a free virtual ticket]( for the [Modern Investor Summit]( before midnight on Halloween, October 31st. There’s nothing scary about this summit. You’ll find out the [frameworks, predictions, and simple methods]( you need to build a portfolio brave enough to give frightening markets their revenge. You won’t be panic-stricken by the price either: you can [attend the summit online]( – and hear from investing legends like Ark Invest’s Cathie Wood – [for free](, wherever you are in the world. No jump scares here: [sign up for your free virtual summit ticket]( and you could [win a $250 gift card](. [Check Out The Summit]( Volkswagen’s Bugging [Volkswagen’s Bugging] What’s Going On Here? Volkswagen (VW) [reported]( worse-than-expected results on Friday, while newly public Porsche showed its former parent how it’s done. What Does This Mean? VW made €4.3 billion ($4.3 billion) in operating profit last quarter, 65% more than the same time last year – despite the carmaker allotting €1.6 billion to cover one-off charges after halting Russian activities and listing Porsche. But that comes with a few caveats: chip shortages stunted last year’s sales, making that impressive uptick a little less impressive. And even then, that lower-than-expected 65% growth still leaves the firm’s operating profit below pre-pandemic levels. That chip shortage has let up this year, but it’s far from over. Mix in ongoing supply chain delays that VW sees sticking around, and that toxic twosome pushed the firm to lower this year's delivery targets. The carmaker now expects 2022 deliveries to match last year’s, a disappointing downgrade from its previously forecast 5 to 10% rise. Investors paid attention to caveats, and sent VW’s shares down 2% after the news. Why Should I Care? Zooming in: The student becomes the teacher. Porsche also [reported]( results on Friday, after VW [listed]( it on the stock market just last month. The luxury carmaker made 41% more operating profit during the first nine months of this year versus the same time last year, and ballooned its operating [profit margin]( by over three percentage points too. Luxury brands find it easier to pass rising costs onto their generally affluent customers, after all, and that nifty trick might have played a part in helping Porsche steal the title of Europe's most valuable carmaker from VW earlier this month. The bigger picture: Future focused. The European Union (EU) reached a deal last week to effectively [ban]( sales of combustion-engine cars from 2035, which – given the EU’s reputation for setting standards globally – will impact carmakers around the world. But VW’s already on it, having previously said it’ll stop selling combustion-engine cars in Europe sometime between 2033 and 2035. You might also like: [How to invest in the EV ecosystem as traditional cars drop off.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Volkswagen’s Bugging&utm_campaign=daily-global-31-10-2022&utm_source=email) 💬 Quote of the day “Life is largely a matter of expectation.” – Horace (an ancient Roman poet) [Tweet this]( SPONSORED BY STRIKEPOINT Crypto’s next chapter Ah, the most-spoken words of the modern investor: “I wish I’d bought bitcoin early”. Well, you might’ve missed the boat on the OG, but there could be [another big opportunity]( brewing right now. After all, investment opportunities often massively evolve when markets go through tough times, and [the most resilient ones]( can really get their chance to shine. Now you can find out which crypto projects are showing the most promise for free: just reserve your [free ticket for the Digital Currency Summit](, running from the 1st to the 3rd of November. [Find out what’s coming in crypto](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. CHART OF THE WEEK You’re not seeing things: Qatar really did spend a gargantuan $220 billion to host this year’s World Cup. That’s about twenty times the nearly $12 billion Russia spent in 2018 – way to show up the competition. Created with [Genuine Impact](. 🌍 Finimize Live 🥳 Coming Up This Week… All events in UK time. 🇨🇳 [What You Need To Know About Investing In China:]( 5pm, October 31st 🎨 [How To Buy And Sell NFTs:](6pm November 1st 🤑 [Asset Allocation For Young Investors:]( 5pm, November 2nd 🙋‍♀️ [Ladies Investing Club Meet Up:]( 6.30pm, November 2nd (in person) 😎 [How To Build A Portfolio Ready For The Next Decade:]( 1pm, November 3rd 👀 And After That… 💰 [Strategies For Market Volatility:]( 1pm, November 8th 🔧 [Tools Value Investors Use For Turbulent Times:]( 6pm, November 10th 🌍 [How To Build An Eco-Friendly Crypto Portfolio:]( 1pm, November 14th 3️⃣ [Three Investment Themes You Need To Know Now:]( 5pm, November 16th 🚀 [Modern Investor Summit:]( 12pm, December 6th – 7th 🎯 On Our Radar - Silver-tongued. Political persuasion can be [more than smooth talking](. - C-ing is believing. The iPhone’s finally getting a [USB-C port](. - You’ll never be called fake again. This luxe resale platform can tell [the knock-offs from the real stuff](. - Influencers mean business. Go inside the weird world of [LinkedIn creators](. - There might be a Rolex in your future. Luxury watches are going (relatively) [cheap right now](. ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. Share your unique link: [ You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: Shutterstock - Ken Wolter, Tada Images | Shutterstock - Rob Wilson Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | Bow Bells House, Bread Street, London, EC4M 9HH All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. 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