MoneyWeek 1052

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.

United Kingdom
Dennis Publishing UK
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51 Ausgaben

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

“A country with fewer listed stocks may end up electing more anti-business governments” Ask any banker or lawyer who works in private equity how busy he or she is right now, and you’ll get the same answer, says Ben Martin in The Times. This is, one lawyer told him, “the busiest period we’ve seen in the last 20 years”. There have been three £1bn-plus bids for FTSE 250 stocks in the last week – and so far this year 38 UK stocks (including RSA Insurance, William Hill and Aggreko) have become merger or takeover targets to avalue of about £42bn. You can see this as good news. Until recently, much of the rest of the world (and much of the UK too) had fallen for the idea that post-Brexit Britain would be…

1 Min
scam of the week

Scammers pretending to be Elon Musk (pictured) have stolen millions of dollars through cryptocurrency frauds as more “financial cheats” look to cash in on the public interest surrounding “highly volatile cryptocurrencies” such as bitcoin, says the Financial Times. The US Federal Trade Commission (FTC) reported that consumers lost over $80m to crypto scams between October and March, with more than $2m of those losses involving people claiming to be Tesla co-founder and on-off crypto enthusiast Musk (see page 5). More than 7,000 scams were reported in six months, 12 times as many as the year before. Investors lost an average of $1,900 to the scams, which “purported to offer investors tips” to help them trade. Young consumers who began trading at the start of the pandemic had been particularly vulnerable,…

1 Min
good week for

Wild swimmers are set to benefit from a £78m investment into sewage-free water backed by the Rivers Trust that could see the Teme near Ludlow in Shropshire and the Leam near Leamington Spa become the first rivers to meet a “sufficient” standard for bathing, says The Times. Swimming in natural waters has soared in popularity in recent years, but the only river in the UK to have official bathing status is a stretch of the River Wharfe in West Yorkshire. Leonardo DiCaprio (pictured) announced plans to donate $43m to “rewild” the Galápagos Islands, says Indy100. The initiative is in partnership with conservation charity Re:wild, and it will include attempts to reintroduce locally extinct species into the remote Pacific archipelago, such as the Floreana mockingbird, the first mockingbird described by Charles Darwin,…

1 Min
bad week for

Ice-cream lovers may struggle to get their hands on a 99 Flake this summer, after snack firm Mondelez, which owns Flake-maker Cadbury, said it’s having difficulty meeting demand for the “crumbly chocolate topper”, says Metro. The combination of ice cream and a Flake is thought to have got its name in the 1920s, when “99” was Italian slang for something special, and in those days cost one pre-decimal penny (0.42p). The typical price now is £1.50. American retail giant Target is turning its back on trading-card aficionados and will stop selling Pokémon and sports trading cards to protect its staff and other shoppers after a dramatic increase in the re-sale value of the cards prompted “chaos and threats to staff”, says The Guardian. The decision follows a fight over cards in…

2 Min
markets rattled by us inflation surge

“There’s no inflation…nothing to see here…oh…,” says James Knightley of ING. The US Federal Reserve has spent the last few months insisting that talk of impending inflation is overblown. That argument looks harder to sustain after US inflation surged to 4.2% on an annual basis in April, its highest reading since September 2008. Core prices (which exclude volatile food and energy costs) jumped 0.9% in a single month, their biggest monthly rise since 1981. Inflationary pressure will only intensify from here due to a “vibrant, strengthening” recovery in an economy that has “supply constraints”. The inflation spike has rocked markets. Global stocks had their worst week since February, with the FTSE All-World index finishing last week down 1.5%. The selling continued into this week, with major US and European indices continuing…

1 Min
recovery powers a buyback boom

“We’re buying back stock because our cup runneth over,” JPMorgan Chase’s chief executive Jamie Dimon told investors last month, before announcing a “$30bn share-repurchase plan”, says Caitlin McCabe in The Wall Street Journal. The bank is not unusual. After slashing payouts to preserve cash last year, many blue-chips are swimming in greenbacks. The money is now heading for “shareholders’ pockets”. US firms have already announced $504bn of share buybacks so far this year. That is the fastest pace “in at least 22 years”. The first quarter also brought the fastest quarterly rise in dividend payouts since 2012. The buyback surge is being powered by “blowout first-quarter” results on both sides of the Atlantic, say Aziza Kasumov and Siddharth Venkataramakrishnan in the Financial Times. Firms in the Stoxx Europe 600 index are…