Actualité et politiques
MoneyWeek

MoneyWeek

Issue 1006

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.

Pays:
United Kingdom
Langue:
English
Éditeur:
Dennis Publishing UK
Fréquence:
Weekly
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3 min.
from the editor-in-chief...

“I am thrilled by the number of equity raises we have been seeing recently” There’s a lot of pessimism about at the moment. Unusually, not much of that pessimism is on show at MoneyWeek. I am still fairly convinced that the economic recovery from the Covid-19 virus will be V-shaped – a view now shared (somewhat surprisingly) by the Bank of England’s chief economist Andy Haldane (to read his views in full, find his “second quarter” speech at bankofengland.co.uk). The recovery, he says, has already been “materially faster” than expected. We have also been reasonably impressed by the government’s economic response to the crisis so far (the building of a financial bridge over the crisis via grants, loans and furloughing is the key to the “V”). Parts of Project Speed (see pages…

1 min.
scam watch: loans and holidays

Warnings over fake lenders have nearly doubled during lockdown as scammers try to exploit those struggling financially due to coronavirus, says Harry Brennan in The Telegraph. The number of warnings published by the Financial Conduct Authority related to subprime lending and debt management scams has jumped by 85% over the last three months, “as unscrupulous con artists attempted to capitalise on heightened financial anxiety”. Some scammers impersonate credit providers, targeting low-income borrowers and those with poor credit ratings; others pose as debt management firms. Consumers are also being warned about a sharp rise in holiday-related scams as travel restrictions are relaxed, says Rupert Jones in The Guardian. Consumers are being urged to watch out for fake offers of “cheap travel deals”, which collect fees and personal data, while criminals are advertising…

1 min.
good week for

Investment banking fees hit a record $57bn in the first six months of 2020 as companies issued large amounts of debt (encouraged by the support of the US central bank, the Federal Reserve), to raise cash to tide them through the coronavirus crisis, say Eric Platt and Richard Henderson in the Financial Times. Emergency financings by Ford, Carnival and Boeing were among those that provided multimillion-dollar paydays for Wall Street banks. Some UK and US hedge funds reaped a combined €1bn profit last week after their bets against German payment processor Wirecard (see pages 12 and 29) paid off with its “dramatic collapse”, says Laurence Fletcher in the Financial Times. Chris Hohn’s TCI Fund Management and David Greenspan’s New York-based Slate Path Capital are among the winners, making estimated gains of…

1 min.
bad week for

Kylie Jenner’s beauty company is being sued in a fresh blow for the reality show star (pictured), coming shortly after she was stripped of billionaire status by Forbes, says Vicki Newman in the Mirror (see page 28). The 22-year-old’s beauty brand, Kylie Cosmetics, is being sued by Seed Beauty, which formerly produced her products. They claim Jenner’s recent deal with make-up group Coty, to whom she sold a 51% stake inher company for $600m, will leak their “tricks of the trade” to a competitor. The slashing of interest rates to record lows of 0.1% has created the worst environment for savers since the financial crisis, says Harry Brennan in The Daily Telegraph. In January the average individual savings account (Isa) paid 0.81%, but now the average rate is just 0.37%. The…

2 min.
has the stockmarket bounce stalled?

Is the “bear market rally” over? America’s S&P 500 index finished last week 6.9% off its 8 June high, says Chuck Jones on Forbes. The problem is a surging coronavirus epidemic in the southern states, with new cases across Texas, Arizona and Florida more than quadrupling since the start of June. Add in “very high” equity valuations and it is difficult to see how this rally continues. The FTSE underperforms America’s Covid-19 failures are now difficult to ignore, says John Authers on Bloomberg. Mobility data in affected states is sagging again even as levels in much of Europe return to normal. Hotel, cruise and airline stocks have come under renewed pressure. Talk of a “trade-off” between fighting the coronavirus and saving the economy has proved a false choice. If Covid-19 is rampant then…

2 min.
the best bet in the base metals rally

The prices of key industrial metals have been enjoying a “spectacular rally”, says Buttonwood in The Economist. Copper has jumped by about 25% since the start of April, while iron ore has delivered 12% gains for the year to date. Commodity bulls have China to thank for this rapid recovery, says Buttonwood. Steel blast furnaces were running at 92% capacity in the first week of June, which is above normal levels. For all the talk of the Middle Kingdom’s shift to a consumer economy, the authorities seem happy to use the old method of stoking a construction boom when a round of stimulus is needed. Iron ore has emerged in recent years as the world’s “second most important commodity behind oil”, say Julien Hall And Fiona Boal in the Financial Times. The…