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MoneyWeek

MoneyWeek Issue 954

There's a reason MoneyWeek is Britain's best-selling financial magazine. We exist to help you ground your portfolio so that it keeps your money safe during rough patches and growing in the good times. We don't just look at how to maximise your returns and limit your losses, we also like to look at how you can keep more of the money you've made. 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.

País:
United Kingdom
Idioma:
English
Editor:
Dennis Publishing UK
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51 Números

en aquest número

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

“Builders should focus more on quality and less on selling rubbish to desperate buyers” One of the joys of reading all the papers every week is that you pick up the little stories created by the big stories. My favourite this week is that of Guy Warren of Evergreen Homes. He is irritated. Very. Why? The (biggish) story about the super-keen Remainers who apparently recorded a row between Boris Johnson and his girlfriend through the wall of her flat offends him. Not because he is anti-nosy parkering, or even because he disapproves of the making of the private public (the neighbours gave the recording to the papers). It is because he worked on the flat in question and knows “that the level of insulation and the quality of materials we use…

2 min.
a very expensive loan

Arthur Scargill, the former leader of the National Union of Mineworkers (NUM), could be facing a £300,000 legal bill after a 30-year battle over the repayment of a loan. The judge ordered the International Energy and Miners Organisation (IEMO) – which was set up by Scargill around the time of the 1984-1985 miners’ strike, when the NUM was subject to a sequestration order – to repay a £100,000 loan made by the NUM to cover the IEMO’s legal costs in action it took against Scargill’s former deputy. The IEMO – which, The Times says, “in effect consists of Mr Scargill and his French colleague, Alain Simon” – will also be liable for the NUM’s legal costs, which could amount to as much as £200,000. Good week for: More than three million citizens…

4 min.
invest in asia’s other communist dynamo

The Trump-Xi rapprochement may have grabbed the headlines (see page 5) but last weekend also brought good trade news for Asia’s other Communist dynamo. The European Union signed a trade deal with Hanoi on Sunday that looks set to eliminate 99% of tariffs on goods and services between the two sides. That means that Vietnam’s exporters are enjoying new opportunities in both America, the world’s largest economy, and the EU, the world’s largest single market. As for the dispute between the US and China, Vietnam “has emerged as the biggest winner”, say Gareth Leather and Alex Holmes for Capital Economics. Exports to the US have jumped by 50% since last summer as Trump’s tariffs on Beijing prompt American importers to look for other suppliers. Trans-Pacific trade tensions have boosted Vietnam’s GDP…

3 min.
trade-war ceasefire boosts stocks

“The great US-China trade war is all over,” says Howard Gold on MarketWatch. The G20 summit in Japan brought a handshake between Donald Trump and Xi Jinping, with the former offering to shelve new threatened tariffs on Chinese imports and to lift some restrictions on tech giant Huawei. With the 2020 election looming, the president has shown that he “won’t go to the wall” to win a fundamental change of American trade relations with Beijing. Equity markets sighed with relief, with America’s S&P 500 rising to a new record high just below 3,000 early this week. The index soared by more than 17% during the first six months of this year, its best first half since 1997. Yet the road to a deal remains far from clear, say Alan Rappeport and Keith…

1 min.
viewpoint

“You would have thought that, given they are embroiled in the biggest investment scandal in recent years, fund managers would be prepared for scrutiny. Their fees, their holdings, their unquoted assets, their governance — everything has been under the spotlight… But no. ‘Why do you want to know this?’ was the response when we asked for confirmation of the unquoted assets held in one fund… we’ve had to show investment companies where their own fund accounts are published on their websites — and even point out errors in one firm’s annual report… when we asked companies last week for the percentages of unquoted holdings in their funds, one told us that the numbers were difficult to get hold of because nobody ever asks about them... The Woodford scandal was all…

1 min.
the us tech-cash bonfire

Only in the dotcom frenzy did we see a greater percentage of initial public offerings (IPOs) from unprofitable technology firms, as Shawn Tully points out in Fortune (the chart was compiled with profit or loss figures of the 12 months before flotation). But there is a stark difference between the early 2000s and today. Then, burning cash was associated with “failures” such as Webvan or eToys.com. Today’s tech heroes Tesla, Uber, Lyft and Snap have jointly burnt $23.9bn, outspending Google, Amazon, Apple and Facebook’s collective spending total by a factor of 20. And in contrast to the more established “Fab Four”, today’s big recent IPOs do not appear to be anywhere close to making sustained profits.…