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Bad bet – Drake’s first F1 bet comes at a $300,000 loss

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The interest in Formula One in the U.S. has taken off since the Netflix Series ‘Drive to Survive’ and that means more betting on the sport

Canadian rapper Drake put huge money down on Ferrari’s Charles Leclerc to win the Spanish Grand Prix.

300,000 Canadian dollars was the bet and if the Frenchman won the race, Drake was taking home $750,000 thousand.

Leclerc

Leclerc started from pole and led the race for the first 27 laps before disaster struck, power unit issues saw the 24-year old fail to finish.

Red Bull’s was handed the victory and championship lead to Max Verstappen.

Drake is no stranger to publicising his big bets although this was the first time he put money down on an F1 Grand Prix.

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Markets watch RBA, tax talks, and Nvidia surge

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Investors are eyeing a possible rate cut from the Reserve Bank of Australia as inflation cools. In the US, Trump’s sweeping tax bill is dividing Congress ahead of the 2026 race. Nvidia gears up to report earnings next week, with markets hopeful the AI boom continues. Meanwhile, Bitcoin has hit fresh record highs, driven by ETF momentum and global demand.

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Trump’s “big beautiful bill” takes centre stage

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Donald Trump is back in Washington, rallying Republicans around his sweeping new budget plan—nicknamed the “One Big Beautiful Bill.” It promises to tackle inflation, border security, and government waste, while proposing a bold new Department of Government Efficiency—possibly led by Elon Musk. With U.S. debt over $36 trillion, Trump’s push comes at a tense economic moment. Supporters say it’s about fiscal discipline; critics say it’s far-fetched. As 2026 looms, the question remains—can Trump deliver real reform, or is this more political theatre?

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Tech, trade & tariffs reshape global economic landscape

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The global economy is undergoing rapid change — with breakthroughs in technology, shifts in trade policy, and renewed inflationary pressures all colliding.

In the U.S., the autonomous vehicle sector is accelerating after Waymo received key regulatory approval to expand its driverless services. The move could give Alphabet a competitive edge over rivals like GM’s Cruise, with the prospect of robotaxis generating real revenue on the horizon.

At the same time, fresh tariff threats are sparking alarm in the retail sector. Walmart has warned that new duties could trigger double-digit price hikes, putting pressure on consumers and potentially reshaping spending patterns, especially in electronics and apparel.

Meanwhile, the UK and EU have struck new trade agreements aimed at reducing red tape around food and emissions. The deals mark a step toward improved cooperation and could provide a modest economic boost for exporters.

With uncertainty still hanging over global markets, investors are once again turning to precious metals. Gold and silver are gaining attention as safe havens, with silver’s industrial use giving it added appeal in an uncertain climate.

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