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MoneyWeek

MoneyWeek Issue 977

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.

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

en aquest número

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

This has been a more than usually bad-tempered election campaign. We are going to press just as it ends, so as I write, I’m afraid I still don’t know what the outcome is. However, here’s what we do know: regardless of who has how many seats in Parliament this morning, they are starting in a pretty good place. Yes, we still have a budget deficit, and yes, all the party promises of more, more and then a little more spending during the campaign were uncomfortable. But nonetheless, the work done over the last decade has seen the budget deficit as a percentage of GDP fall to a mere 1.2% by last March. Practically balanced. The employment rate is 76%. The unemployment rate is 3.8%. Real (after-inflation) wages are rising. Our economy…

1 min.
bad investment of the week

Around 1,500 investors who bought £5.8m in mini-bonds from Mexican-food chain Chilango could be left with “virtually” nothing as the group tries to restructure its finances, reports Anna Menin in City AM. Chilango has filed proposals for a compulsory voluntary arrangement to stave off administration. Bondholders will be offered the choice of cashing out at 10p in the pound, or swapping their bonds (originally marketed with an 8% yield) for preference shares. While these would carry an 8% annual dividend, this would only be payable “dependent on the success of the company”. Given that Chilango is currently loss-making, it’s not much comfort. Creditors have until 3January to vote on the plan.…

1 min.
good week for:

Supporters of Newcastle United FC can take advantage of free tickets for the rest of the season as owner Mike Ashley attempts to break a boycott against his time in charge that has seen attendances fall to a ten-year low. Current season-ticket holders can claim a free-half-season ticket entitling holders to watch ten home games for nothing. Proving that “it’s an ill wind that blows nobody any good“, Storm Atiyah helped UK windfarms generate almost 45% of Britain’s electricity last Sunday. Customers on some “smart-energy tariffs” were even paid to use the excess, says The Guardian. Octopus Energy paid 2,000 customers 5.6p for every kilowatt-hour used in certain overnight periods.…

1 min.
bad week for:

Staff at the BBC’s New Broadcasting House in London had their festive cheer quashed after bosses decided the corporation’s 16-foot Christmas tree posed a “security risk” and tore it down a week after installing it. The BBC refused to say how much it had paid for the tree, but similar examples cost around “£2,000 fully decorated”, says The Daily Telegraph. Vinegar producers in Modena have failed in a bid to stop others using the term “balsamic”. The phrase “Balsamic vinegar from Modena” has been protected as an EU “geographical indicator” since 2009, but the European Court of Justice said that protection did not extend to “non-geographical terms”.…

2 min.
markets are in a festive mood

“Politics creates short-term volatility,” but “at the end of the day the business cycle matters above all”, Andrew Milligan of Aberdeen Standard Investments tells Michael Mackenzie in the Financial Times. “Political and protectionist noise” has repeatedly rattled markets this year, says Mackenzie, but with the MSCI World index up more than 21% and the FTSE All-World index loitering just shy of all-time highs, 2019 has been a reminder that deeper factors than yesterday’s headlines drive stockmarket returns. The global economy is on the mend Donald Trump provoked renewed alarm last week when he announced surprise tariffs against Brazil, Argentina and France. On Sunday Washington is due to impose new levies on $160bn of Chinese imports. One does wonder “whether investors are beginning to tire of the task of tracking the tantrums and…

1 min.
the bond bubble has yet again failed to burst

2019 looks set to go down as the year in which the bond bubble yet again failed to burst, says Sid Verma on Bloomberg. An almighty rally in debt markets this year saw as much as $17trn in government, and some corporate, debt trading at negative yields by late August. Bond yields rise as prices fall. By the end of November, the amount of negative yielding debt had fallen back to roughly $12trn as investors jumped back into stocks, but that is still a long way from a rout. In aworld short of the “safe” assets that investors crave, 2020 is likely to serve up more of the same. The bubble hasn’t burst, but the air might be seeping out, says Randall Forsyth in Barron’s. The yield on Austria’s 100-year bond, which…