Notícies i Política

MoneyWeek Issue 994

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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51 Números

en aquest número

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

“The US has lost ten million jobs in the last two weeks – a nightmarish statistic” Is that it? For weeks we have been told to watch the data around new infections from the coronavirus. The second they look to have peaked, said pretty much everyone, the market will turn. And so it was. Markets started to move back up ten days ago. At the weekend, we got some suggestion that locking down 35%-plus of the world’s population is sort-of working. Infections may be peaking and Pictet’s Luca Paolini notes that global Google searches for information on Covid-19 also look to have peaked, suggesting global panic might have too. Either way, markets soared. By Wednesday morning most had recovered 20% from their lows. But can the bear market really be over so…

1 min.
scam watch

Criminals exploiting fears about coronavirus have stolen nearly £1.5m since the outbreak started, says Kenza Bryan in the Times. Action Fraud, the national crime reporting centre, received over 500 reports mentioning the virus between 9 February and 2 April, with total losses to victims of £1.6m. The Pensions Regulator warns that fraudsters are targeting those who are worried about a drop in the value of their pension funds due to the recent stockmarket falls. Among other things, scammers promote bad trading advice or fake investment schemes with the promise of ridiculously high returns. Fraudsters have also impersonated the police and HMRC in text messages, issuing “fines” for breaking social-distancing rules or suckering people in with promises of non-existent grants. One message reported to UK Finance reads: “URGENT: UKGOV has issued…

1 min.
good week for

“When the coronavirus outbreak forced the cancellation of Wimbledon it looked like game, set and match against the All England Club,” says Stuart Fraser in The Times. But not all is lost; the club’s insurance policy, which covers infectious diseases, could see it reimbursed with over £100m. The club’s insurance policy is understood to cost about £1.5m a year. Artists affected by the Covid-19 crisis will be able to access $1.6m in relief grants from the Andy Warhol Foundation for the Visual Arts, says Artsy. The foundation is teaming up with partner organisations in its Regional Re-granting Program to distribute grants of $100,000 to artists in 16 US cities to help them cover anything from everyday expenses to medical costs to childcare.…

1 min.
bad week for

Mark Barnett has been sacked as manager of the Perpetual Income & Growth Investment Trust after a prolonged period of underperformance, says Holly Black in Morningstar. It’s the latest blow to Barnett, who was removed from the Edinburgh Investment Trust in December. He also saw his Invesco Income and Invesco High Income funds downgraded to “neutral” amid liquidity concerns. The makers of Who Wants To Be a Millionaire? have admitted they were scammed out of £5m in prize money by a “syndicate of quiz cheats”, says Chris Hastings in The Mail on Sunday. Producers believe the gang netted “at least” 10% of the £50m prize money paid out from 2002 to 2007 by charging applicants a £500 fee and then slipping them answers.…

2 min.
dividends are disappearing

Are dividends the new bankers’ bonuses? During the financial crisis lavish salaries in high finance became a “lightning rod for political anger”, says Attracta Mooney in the Financial Times. In 2020, as US and European politicians urge companies to scrap payouts in return for bailouts, it seems that dividends and buybacks have taken on that mantle. Major British banks ditched their dividends last week under pressure from the Bank of England. Global stockmarkets recently finished their worst quarter since 1987 but seem to have found their feet in recent days. Indices rallied at the start of this week, with Germany’s Dax rising nearly 6% and the S&P 500 7% on Monday to register its best day in a fortnight and its third-best in over ten years, notes John Authers on Bloomberg.…

1 min.
stocks plunge as latin america heads for lost decade

Latin America is facing a “lost decade”, say Eric Martin and Patrick Gillespie on Bloomberg. Incomes in the world’s “most unequal and violent region” had already fallen in recent years thanks to lower commodity prices. Now the coronavirus leaves Latin America bracing for “the deepest recession in its modern history”. Indebted governments have few fiscal tools to soften the blow. The result is that per capita GDP in 2025 may well prove to be the same as it was in 2015, says Alejandro Werner of the International Monetary Fund. Fragile democracies are being pushed “closer to their breaking points”. The MSCI EM Latin America index fell an astonishing 45% in the first quarter, despite the fact that the coronavirus has so far hit other parts of the world far harder. The…