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MoneyWeek 1053

MoneyWeek is a weekly magazine that enables you to become a better-informed, smarter investor and enjoy the rewards of managing your money with confidence. Week-in, week-out we'll guide you through the financial world as it changes, alerting you to all the opportunities to profit and dangers to avoid, as they appear. Income strategies, rising-star companies, the best funds and trusts, clever ways to preserve your wealth during market turmoil... you will get the best ideas from the sharpest financial minds and investing professionals in Britain.

Country:
United Kingdom
Language:
English
Publisher:
Dennis Publishing UK
Frequency:
Weekly
$8.22(Incl. tax)
$195.48(Incl. tax)
51 Issues

in this issue

3 min
from the editor-in-chief...

“Governments have a firm monopoly on coercion: crypto owners should remember this” The UK was not prepared for the Covid-19 pandemic. We aren’t prepared for much else in the way of crisis either: there are, for example, no plans in place should solar flares knock out our electricity supplies, or should terrorists attack us with anthrax. So said Dominic Cummings when he gave evidence to a Commons committee earlier this week (see page 8). Both of the latter events might seem unlikely – but a year ago so did being ordered to stay in your houses indefinitely while Cummings and Boris Johnson bickered about Matt Hancock’s integrity. There isn’t much we can do about how the government prepares for crisis. We can, however, think about how we prepare – how we protect…

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1 min
divorce case of the week

A multimillionaire human rights barrister, who counts matrimonial cases among her specialisms, is battling to reduce the £625,000 payout she was ordered to give to her own “mischievous househusband”, after the pair split up, reports Jonathan Ames in The Times. Sorour Bassiri-Dezfouli, 55, and ex-husband, Kianoosh Azarmi-Movafagh, 58, separated in 2017 after an 11-year relationship. In 2019, Bassiri-Dezfouli – whose property portfolio was worth £2.3m – argued that “she was the only contributor to the marriage”, and that her ex, who had been unemployed for the entire marriage, did not need funds to buy his own home. However, the judge ruled that her husband, who claimed to have been the main carer for their son, had a right to “have his needs considered” given the length of the relationship, adding that…

1 min
good week for

A woman was awarded a £3,320 payout after an employment tribunal found her colleagues had harassed her at work by branding her a “slut” over “revealing” pictures she had uploaded to Facebook, in which she wore “a black leather basque and fishnet stockings”, reports Alex Cutler in the Daily Mirror. Claire Wallace, a carer and a mother from Hexham, describes herself as an “alternative model”. St John’s College, one of the University of Cambridge’s 31 constituent colleges, is to offer the UK’s “most generous bursary scheme” for students from low-income backgrounds, giving 40 pupils the equivalent of £51,000 each, says Eleanor Harding in the Daily Mail. By giving students full tuition and living expenses for three years, the college hopes to “rival the lavish financial aid handed out to students by…

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1 min
bad week for

Students could face higher or extended loan repayments as the government looks to reduce its exposure to unpaid student debt, says Emma Yeomans in The Times. Lowering the income threshold at which graduates begin to repay their student debts (currently £27,295 a year) and extending the repayment period past the current 30 years are among the measures being considered. Up to 75% of student loans will never be repaid in full. Thieves broke into the home of Little Mix singer Leigh-Anne Pinnock (pictured) and stole her £40,000 engagement ring, reports Leah Sinclair in the Evening Standard. Pinnock, 29, is engaged to footballer Andre Gray. The ring, an emerald and diamond-encrusted gold band, is thought to have gone missing this month when the pair were moving house.…

2 min
the bitcoin market is refusing to mature

There comes a time “in the life of every cryptocurrency investor… when they watch a significant amount of their money disappear in the span of a few hours”, says Jen Wieczner in New York magazine. Bitcoin fell by 30% last week and is down by more than 40% from its mid-April highs. The past week has seen a stomach-churning series of rallies and reverses, including a 30% fall in a single day on 19 May. A poor store of value At the time of writing bitcoin was still well short of $40,000; it traded as low as $31,970 at the weekend. The price has been hit by news from China, where regulators last week banned banks and payment companies from accepting cryptocurrencies. Elon Musk’s Tesla also says it will no longer accept…

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1 min
look beyond japan’s olympic omnishambles

Welcoming “90,000 visitors from all over the world during a pandemic” to a “densely populated city where vaccinations trail Bangladesh… gee, what could go wrong?” asks William Pesek in Nikkei Asia. Japan insists that it can safely hold the Olympic games in July, but opinion polls show that more than 80% of the country’s citizens are opposed. Pressure is growing on the prime minister, Yoshihide Suga, who has backed the games. The head of e-commerce giant Rakuten, Hiroshi Mikitani, has dubbed the Olympics a “suicide mission”. Japan has so far done a relatively good job at containing the virus, but was forced to declare a state of emergency last month in response to a new wave of cases. Uncertainty about the Olympics has weighed on markets. The Topix index has gained…

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