MoneyWeek 1078

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

in dieser ausgabe

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

“Rich people have complained for years about inflation. But this round isn’t about them” Interest rates are going to rise before Christmas – or at least they certainly should. This week’s inflation numbers (see page 16) are just too high for the Bank of England to think it can continue to sit on its hands. In October, the consumer price index in the UK rose by 4.2% on the year, the fastest 12-month rise in a decade, and well over double the Bank’s target of 2%. There are apologists aplenty for the number. Many note that if you take out food and energy prices the number falls to not much more than 3%, for example – and it is true that a good 50% of the rise is due to sharply…

1 Min
hapless insider trade of the week

Puneet Dikshit, a 40-year-old partner at global consultancy McKinsey, has been charged with insider trading related to the $2.2bn acquisition of fintech firm GreenSky by Goldman Sachs, says Hugh Son for CNBC. Dikshit advised on the deal, and allegedly used his privileged information to buy almost 2,500 call options (essentially, a leveraged bet on the share price going up) in the firm in the two days before the deal was announced. His investment soared by 1,800% on the news, a profit of $450,000. Yet given his position he appears to have had limited financial knowledge. He apparently went on Google, using his work computer, to search for “what happens to options when company is acquired” the day before the deal was done. He now faces two counts of securities fraud…

1 Min
good week for

Pop-singer Britney Spears (pictured), 39, has regained financial freedom 13 years after her father took over her affairs, says Sky News. In 2008 a “conservatorship” stripped her of control of her estate after she suffered a nervous breakdown. Earlier this year she described the arrangement as “abusive” and hired a new lawyer to help her end it. A US marshal has tracked down a bank robber who stole $1.2m from an Ohio bank in 1969 after inheriting the case from his father. John Elliott Sr. became obsessed with the chase but died last year before he managed to track Ted Conrad down. However, his son Peter, who adopted the same profession as his father, has now found the criminal, who died in Boston under a false name in May.…

1 Min
bad week for

Technology giant Google has lost an appeal over a €2.42bn fine imposed by the EU in 2017, says the Financial Times. Google incurred the penalty for breaching competition rules: it favoured its own comparison-shopping service over those of other companies on its results pages. Competition commissioner Margrethe Vestager had accused Google of conferring an “illegal advantage” on its own division. Salvator Mundi, which sold at auction to Saudi Prince Badr bin Abdullah in 2017 for $450m, has been downgraded by Madrid’s Prado Museum, says The Art Newspaper. It was sold as a Leonardo da Vinci, but experts listed it in a catalogue for a new exhibition as merely attributed to, rather than painted by the artist. Its provenance has always been controversial but this is the “most critical response from a…

5 Min
how to jump-start your car collection

Most new cars lose a third of their value as soon as you drive out of the dealership. But not all cars spend 10-15 years gradually depreciating before being scrapped. Some are even worth more than you paid for them before you take your first drive, and others return from an initial dip to become valued at many times their original sticker price. The right car can be a worthwhile investment, so here are some tips on what to look out for when creating your own vehicular nest egg. Two of the key factors in a collector’s car are brand and rarity. Premium brands like Ferrari, Rolls Royce, Aston Martin, Bentley and Porsche can often produce collector’s items, but it’s not guaranteed. Everyday Porsche 911s from the late 1990s onwards are…

2 Min
central banks’ credibility is at stake

The US Federal Reserve is “running out of excuses” for high inflation, says James Mackintosh in The Wall Street Journal. US consumer prices rose by 6.2% year-on-year in October, the fastest rate since 1990. Core inflation, which excludes volatile food and energy prices, hit an annual 4.6%, the highest since 1991. Bonds swoon “I expect lots of eyeballs were bulging out of their sockets when they saw the number come in,” Seema Shah of Principal Global Investors told the BBC. Higher interest rates were not expected “before late 2022”, but the Fed now faces pressure to act sooner. The inflation figure triggered a bond sell-off, with yields on two-year US Treasury bonds soaring “by the most since the market turbulence of March 2020”, say Kate Duguid and Naomi Rovnick in the Financial Times. Investors…