Podcast: The plastic problem facing investors August 11, 2021 | City Talk Read the full transcript Part one: The weight of plastic worth all the fish in the sea Ashleigh Cowie (AC): In doing research for this podcast I came across this astonishing fact. Are you ready for it? David Brett (DB): Go on then. Hit me with it. AC: Right now, there are more than 5 trillion pieces of [...]
Exclusive: Unpaid stamp duty clawed back by the tax man soars to five-year high August 11, 2021 Tax clawed back from probes into suspected unpaid stamp duty reached a five-year high this year, reveal exclusive figures obtained by Morning Wire The tax man recouped an average of £113,400 from each investigation it launched into unpaid stamp duty in 2020/21, shows data secured through a Freedom of Information request submitted to HMRC. The data [...]
US stocks lifted by infrastructure bill’s safe passage August 10, 2021 Wall Street opened higher this morning as investors were boosted by news that President Joe Biden’s $1 trillion infrastructure bill had safely passed through the Senate. The blue-chip S&P 500 edged up 0.17 per cent to 4,439 points, while the Dow Jones climbed 0.5 per cent to 35,278 points. Tech shares lost ground as investors [...]
Fresh UK SPAC regime comes into force today August 10, 2021 The City watchdog’s new regime overseeing special purpose acquisition companies, or SPACs, in the UK comes into force today. Under the new rules implemented by the Financial Conduct Authority, investors will be able to dispose of holdings in a SPAC before an acquisition is completed. Previously, trading in SPACs was suspended as soon as the [...]
Strategic asset allocation or how I learned to stop worrying and love dispersion August 10, 2021 | City Talk For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90 per cent of performance is rapidly becoming outdated. During 2020 and 2021, we have seen how the world of investing is shifting from one in which declining interest rates drive beta performance [...]
Oil prices rebound after nursing heavy losses August 10, 2021 Oil prices recovered ground this morning after suffering sharp losses yesterday amid concerns surging Covid cases in China will hit global oil demand. Global benchmarks WTI and Brent Crude added 1.31 per cent and 1.04 per cent to reach $67.35 and £69.76 respectively. Yesterday, oil prices shed over four per cent at the height of [...]
Londoners pay highest average inheritance tax bill in UK at over £270k August 10, 2021 Londoners pay on average the highest inheritance tax bill in the UK, according to latest official government figures. Data from HMRC shows residents in the capital paid an average of £271,820 in inheritance tax on their estates in 2018/19 upon death. Meanwhile, UK residents paid an average of £209,502 in inheritance tax in the same [...]
Euro 2020 and ‘Freedom Day’ lift consumer spending above pre-Covid levels August 10, 2021 Euro 2020, the Tokyo 2020 Olympics and “Freedom Day” provided the perfect storm to lift consumer spending above pre-Covid levels, new figures released today reveal. Data from Barclaycard shows consumer spending was 11.6 per cent higher than in the same period in 2019, before the onset of the Covid crisis. Consumers rushed to pubs to [...]
Consumer fatigue slows retail sales growth August 10, 2021 Signs of fatigue among consumers after the initial burst in spending triggered by the gradual easing of Covid restrictions are starting to emerge, according to new figures released today. Research from the British Retail Consortium and KPMG show retail sales jumped 9.8 per cent in July compared to the same period in 2019, before the [...]
Brits still using pennies and pounds to buy goods August 10, 2021 Cash is continuing to play a significant role in facilitating transactions as Brits flock to high streets after “Freedom Day”, new figures released today reveal. A record £665m was withdrawn from Post Office counters in July, the highest monthly total excluding the historically busy Christmas period ever. Personal cash withdrawals in July were up 4.6 [...]