When the Covid cloud moved in, the bright stars of private equity dimmed July 29, 2021 | Sponsored Investors were allocating to private equity and venture capital funds in record volumes, banking on their perceived stability and expected continuing high returns. But when the COVID cloud moved in, the bright stars of PE and VC dimmed. Will they go completely dark? Our new industry brief, Alternatives in the Age of COVID-19, produced in conjunction [...]
Rush to beat stamp duty deadline drives mortgage borrowing to record high July 29, 2021 A rush to complete house purchases before the tapering of the stamp duty holiday at the end of June drove mortgage borrowing to a record monthly high, reveal new figures published today. The Bank of England said mortgage borrowing hit £17.9bn in June, surging 163 per cent in just a month from £6.8bn in May. [...]
US stocks open flat as investors await outcome of Fed meeting July 28, 2021 US stocks were broadly flat on Wednesday morning as investors held off from making any sudden moves until the Fed announces the outcome of its latest round of talks. The blue-chip S&P 500 inched up 0.02 per cent to 4,404 during opening trading, while the Dow Jones lost 0.12 oer cent. The Nasdaq led the [...]
Weaker economic backdrop presents fresh headaches for Fed July 28, 2021 Today’s Federal Open Market Committee announcements come amid mounting concerns that the rapid rise in Covid cases could dampen the global economic recovery. This backdrop presents a different set of problems for Fed Chair Jerome Powell to when he last spoke in June. Recovery prospects are still good, but have tempered. Investors around the world [...]
Shop prices drop as retailers compete for consumers’ pounds July 28, 2021 Prices for products in shops dipped over the last year driven by strong competition between retailers to attract consumers, according to new figures released today. The British Retail Consortium and NielsenIQ’s latest shop price index shows prices in shops fell 1.2 per cent annually in July. Read more: UK inflation hits 2.5 per cent in [...]
Games Workshop shares slump despite sales surge over lockdown July 27, 2021 Games Workshop shares slipped today despite the gaming and miniature figures retailer recording a spike in sales as Brits got on its ware to relieve lockdown. The Nottingham-based firm’s pre-tax profits surged 69 per cent, hitting nearly £151m in the year to 30 May. Revenue rose 31 per cent to £353m due to a hike [...]
Covid recovery: IMF predicts UK economy to grow fastest of all G7 nations July 27, 2021 The UK economy is set to recover much faster than expected from the Covid crisis as a resurgence in consumer spending and the success of the vaccine rollout boosted official forecasts. According to the International Monetary Fund’s latest World Economic Outlook report, the UK economy will expand seven per cent this year, a sharp increase [...]
House prices to surge another £50,000 over next five years July 27, 2021 House prices are expected to surge another £50,000 over the next five years, further reducing affordability in the UK property market, according to new forecasts published today. Estate agent Savills predicts house prices will jump nine per cent this year, driven by the extended stamp duty holiday and prospective buyers rushing to purchase larger homes [...]
`Your network is your net worth´: seven tips to propel your career July 27, 2021 | City Talk My thought leadership speaking tours to the Middle East and Europe were postponed. To convince the organizers to host their events online, I went on a shopping spree and bought all kinds of audio and video equipment just before the first lockdown in Singapore. It wasn’t just me. Everyone, from students to senior professionals, needed [...]
China crackdown weighs heavily on global markets July 27, 2021 Global stock markets notched losses on Tuesday as investor sentiment soured on concerns that Chinese authorities may over-extend their regulatory crackdown. The US’ main benchmarks dropped during the opening session, with the tech-heavy Nasdaq registering the worst performance, down 1.76 per cent. The blue-chip S&P 500 fell 0.78 per cent, while the Dow Jones lost [...]