Here’s something you don’t hear everyday.
Billionaire ex-Walmart exec is building a $400B futuristic city called Telosa based on the concept “equitism,” a mash-up of equality and capitalism.
There will be an application for the first 50,000 Telosa “settlers,” who could move in by 2030.
Wonder if the city will have a Walmart…
If you’d like to know more about the egalitarian utopia, click here.
The ASX200 closed 0.1% lower on Tuesday at 7374.9 points, dragged down by falls in large mining companies. However, the volume of companies on the All Ords, the top 500 companies, saw it closing 0.5 points, or 0.01 per cent, higher today
Wall Street futures are slightly negative in late afternoon trade. The Dow Jones mini isdown 0.1%, the S&P500 mini is down 0.02% and the Nasdaq mini is down 0.05%
Iron ore slipped by 0.7% to $US124.32 a tonne.
Oil prices also softened after hitting new multi-year highs on Monday with WTI crude down -0.3% to $US82.02 a barrel and Brent crude down 0.8% to $US84.21 a barrel.
Major miners are down heavily today with BHP falling 1.8% after revealing a 5% decline in iron ore shipments, and Rio Tinto is down 3.1% after last week reporting a similar decline.