MoneyWeek 1066

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 Issues

in this issue

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

“Children have a long investment horizon – they don’t have to spend it all in the pub at 18” How much will you leave your children? Our virtue-signalling celebrities say increasingly “not much”. Daniel Craig is the latest one to say that he finds the whole idea of inheritance “distasteful” and to suggest his children won’t be getting much of his (pretty large) fortune (see page 32). I get this. Too much money too early can prevent the young finding a purpose in life – and giving most of your money away to those in rather more need than your own children seems a perfectly reasonable idea. But there is a difference between the Craigs of the world and the rest of us – and much of that difference lies in…

1 min
a rotten result for johnny

Songs by 1970s punk band the Sex Pistols can be used in an upcoming TV series being made about the group’s rise to fame, despite the opposition of frontman John Lydon (pictured), a British judge has ruled, reports the Associated Press. The judge said that an agreement made with fellow pistols Steve Jones (the guitarist) and Paul Cook (the drummer) in 1998, allowed the decision to be made by a majority vote, meaning the pair could overrule Lydon’s objections to the licensing of the band’s hits. Pistol – which is based on guitarist Jones’ 2016 memoir of the band – is being made for Disney subsidiary FX and directed by Danny Boyle, the acclaimed director of Trainspotting. Lydon apparently has concerns that the new documentary drama will depict him in a…

1 min
good week for

Wine drinkers in the UK could benefit from government plans to cut red tape, shaving 10p off the cost of every bottle imported, says Joe Mayes for Bloomberg. The “VI-1” certificate – previously only required for imports from non-EU countries – was set to be extended to EU wine. However, it will now be scrapped altogether, which could save wine importers an estimated £100m a year, according to The Wine and Spirit Trade Association. Britain’s tourism industry is reaping the benefits of a boom in domestic holidays – the cost of holiday accommodation soared by an average of 41% this summer versus 2019, says Joshua Thurston in The Times. Consumer group Which found that a week’s stay in Italy’s Lake Garda this month would have cost a quarter of its equivalent…

1 min
bad week for

Property tycoon Shaun Collins has been ordered to pay ex-partner Nicola Oberman £1.4m, after he promised a share of his future earnings to her in 1997 via a love letter written from prison, where he was serving a six-month jail sentence for false accounting, says Jonathan Ames in The Times. Collins pledged to make her a partner in his planned property empire, and on release, went on to build a multi-million pound portfolio of more than 40 properties. The pairnever married, but had two children before splitting up in 2015. Commuters could be facing a near-5% rise in rail fares next year, says Philip Georgiadis in the Financial Times. Annual price rises for regulated fares are based on the retail price index (RPI) for July each year. Last year ministers used…

2 min
commodities can’t lift emerging markets

“When commodities prices go up, so do emerging market stocks,” says Jonathan Wheatley in the Financial Times. That has been the emerging-market investor’s playbook for decades. No longer. The MSCI Emerging Markets (EM) index has fallen about 2% so far this year, even as the prices of metals, grains and fuel have soared. That caps a decade of disappointment. The index has gained 25% since the start of 2010, while the developed market equivalent has more than doubled over the same period. Once the preserve of Latin American commodity producers, today three-quarters of the MSCI EM is made up of Asian countries that largely import raw materials. Chinese stocks alone account for more than one-third of the index. Hence developments in that country have been the “key driver” of this year’s…

2 min
oil goes off the boil

The oil-price rally has gone off the boil. Optimism at the re-opening of economies around the world saw Brent crude gain 50% between the start of the year and early July to trade at $77 a barrel. There was even talk of prices returning to $100 a barrel for the first time since 2014. Instead, the market has had anything but a hot summer. Last week oil prices suffered seven successive days of price falls, to a low of just above $65 a barrel. That was Brent crude’s worst losing streak since 2018. A recovery early this week saw Brent crude trade back up at around $70 a barrel, still down almost 8% since early July. A stronger US dollar has played a role in the decline, says Navneet Damani on…