Markets have bigger things to worry about than a change in Number 10 July 12, 2022 Markets tend to be one step ahead of everyone else. Investors are always trying to identify new risks and limit their exposure to events that hurt stock markets. That forward-looking ethos probably explains why they ignored the upheaval in Number 10 last week. Boris Johnson’s position has looked wobbly for a while. Investors priced in [...]
London businesses crimped by cost of living spending slowdown July 12, 2022 London’s businesses are being crimped by Brits cutting spending in response to the cost of living squeeze, reveals a survey released today. Some one in four of the capital’s firms have suffered income hits over the last three months, up from a fifth in the first quarter of this year, according to the London Chamber [...]
UK windfall tax reprieve helps FTSE 100 pare back morning losses July 11, 2022 Recession fears initially gripped London markets today, but traders perked up during the afternoon session to leave the capital’s main index unchanged. The FTSE 100 was largely flat, closing at 7,196.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.4 per cent to [...]
Climate reporting a ‘burden’ for pension funds but the only way forward, says Opperman July 11, 2022 Newly reappointed pensions minister Guy Opperman said today that new climate reporting measures for pension funds were a “challenge” and “burden” for fund managers but it was clear it was now the only way to clean up investment. Opperman, who resigned and was reappointed to his role last week, said that becoming the first country [...]
Doceo watch list 11.07.22 July 11, 2022 Discount Watch: 10 The number of investment companies whose discounts hit 12-month highs over the last seven days increased by one this week to 10. Case of deja-vu in the private equity and infrastructure sectors after there were second consecutive appearances for LMS Capital (LMS); Schroder British Opportunities (SBO); and infrastructure’s Sequoia Economic Infrastructure (SEQI). [...]
Doceo Insight – The £81bn jackpot and the investment trusts with the biggest shares July 11, 2022 The number 81 will have different meanings for different people. It might be someone’s age or year of birth. Perhaps the last two digits of a credit card pin. For bus goers in the London area, the number 81 will get you from Slough to Hounslow and back again or, if in Merseyside, from Bootle [...]
Doceo’s Weekly 360 – the week’s news and views in the words of the companies and the professionals July 11, 2022 A unique mandate Fourth Annual Report from fintech investor Augmentum Fintech (AUGM). Chairman Neil England wrote: “The Company’s portfolio of investments has again performed very well with an increase in Net Asset Value (NAV) per share after performance fee of 19.0%. However, the share price and total shareholder return do not reflect the strong performance [...]
£134bn: Biggest rise in tax receipts since 2000 gives chancellor room to make cuts July 11, 2022 The new chancellor of the exchequer may have leeway for tax cuts, after a £134bn spike in so-called ‘stealth ‘ taxes. There was the biggest increase in receipts since the turn of the century over the last 12 months, up to £718bn, representing a 23 per cent increase on the previous year. The rise from [...]
UK economy headed for prolonged slump despite jobs market resilience July 11, 2022 The UK economy is headed for a protracted slump and possibly a recession caused by soaring inflation hitting households and businesses, revealed a survey published yesterday. Output has dipped to its lowest level since February last year, when the country was in the teeth of the most onerous Covid-19 prevention measures, according to consultancy BDO. [...]
Three Soft Skills You’ll Need To Succeed At A Tech Start-up July 11, 2022 If you’re working in the tech sector, hiring at a startup is something you’ve probably considered. Startups are booming in the UK: 38,240 tech firms were incorporated in 2021, up from 23,579 in 2020. According to data from Dealroom, in the first quarter of this year, tech firms raised a record £9bn, up from the [...]