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MoneyWeek

MoneyWeek Issue 1017

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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Country:
United Kingdom
Language:
English
Publisher:
Dennis Publishing UK
Frequency:
Weekly
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51 Issues

in this issue

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

“The response to Covid-19 is wrecking lives and economies” At the very start of the pandemic, on a plane from somewhere to somewhere, I pulled a furious article out of the China Daily. The author was maddened by criticism of Chinese handling of Covid. The New York Times had accused it of “Mao Style Socialist Control”; Foreign Policy had gone for plain old “Incompetent”; and China Uncensored for “Authoritarian Crackdown”. But as far as the paper was concerned, the criticism was all about the West running a xenophobic anti-China campaign “because they really want you to hate.” I kept it, then, as a reminder of just how Chinese and US relations were breaking down. But now it is also atrying reminder of how much less of the moral high ground the West…

1 min.
loser of the week

Gary Lineker (pictured) has taken a £400,000 paycut to remain the host of Match of the Day for the next five years, along with an agreement “to be more careful in his use of Twitter to push political causes”, says Jim Waterson in The Guardian. Lineker, who suggested earlier this year that it was time to make the BBC licence fee “voluntary”, took home £1.75m last year, “well ahead of any other BBC employee”. Given his links with the BBC, Lineker has also been criticised for regularly tweeting negative views on Brexit and the government. New BBC director general Tim Davie announced Lineker’s new salary of £1.3m and emphasised one key point: “And before you ask, Gary knows that he has responsibilities to the BBC in terms of his use…

1 min.
good week for

Spanish police seized four fake Modigliani paintings this week that an auction house was trying to sell for €8m. The fakes disappeared 52 years ago and came to the attention of police during a regular screening of works of art on sale. Modigliani is deemed by experts to be among the most forged artists. Naomi Osaka (pictured) won her third Grand Slam title this week, adding another £2.3m in prize money to her fortune, says Eleanor Crooks on PA Media. The 22-year-old is already the highest-paid tennis player in the world, and this week became the first Asian player to win three grand slam singles titles, surpassing Chinese trailblazer Li Na.…

1 min.
bad week for

The live action remake of Mulan opened to disappointing numbers in China, with the Disney remake pulling in just $23m in its first weekend, “far from the smash hit the House of Mouse hoped it would be”, says Chris Edwards on Digital Spy. The film, about a fearless young woman who disguises herself as a man to battle northern invaders in China to save her ailing father from serving in the Imperial Army, recorded a user score of just 4.9/10 after more than 150,000 votes on Chinese website Douban. A “reckless teenager” was fined £10,000 under Covid rules after police broke up a party of 50 people at his student home, says the Mail Online. Stuart Hawk, a19-year-old politics student at Nottingham University, slammed the fine as “ridiculous”, claiming he had…

2 min.
how options traders are driving markets

Have US equities pulled off a “healthy correction”? The Nasdaq index entered official correction territory last week after falling by more than 10% from a recent high. Yet US stocks started this week in better spirits. Optimists say that occasional pullbacks of this kind are needed to keep the market on its toes and get rid of “froth”. The idea is that occasional losses punish speculators who would otherwise leverage themselves up to the hilt betting on rising prices. That forces investors to remember the fundamentals and paves the way for a more durable rally. Too much froth The trouble is that there is still plenty of froth around, says Bloomberg. The recent mini-crash wiped $2trn off stock valuations, but trading data shows that bullish retail investors, who often buy in through…

1 min.
china’s bulls stampede as recovery gathers strength

China’s recovery is gathering strength, say Finbarr Bermingham and Amanda Lee in the South China Morning Post. Industrial production continues to lead the way, rising by 5.6% in August on a year before. There are also signs of a consumer rebound: retail sales advanced by 0.5% on the year in August, the first growth recorded this year. China is the only big economy the International Monetary Fund thinks will expand this year. The encouraging economic backdrop means the bulls are out in force. The benchmark CSI 300 stock market index has gained 12% so far this year and is up by 32% since 23 March. The rally has brought plenty of signs of excess. Shares on the Star market, atechnologyfocused equivalent to America’s Nasdaq, have been trading at “huge premiums” to “near-identical”…