MoneyWeek 1055

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.

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United Kingdom
Dennis Publishing UK
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3 мин.
from the editor-in-chief...

“Employers are offering sign-on bonuses – soon they’ll have to offer proper wage rises” The UK appears to be booming. You can see it in the official data (see page 12), but it’s just as obvious in the anecdotal that there don’t appear to be enough staff to keep up with demand. This week alone The Observer wrote on arestaurant in St Albans short of 20 of its normal number of employees (55); The Sunday Times featured a brave entrepreneur setting up a new chain (Tapas Revolution) and struggling to find the 25 chefs and waiting staff he needs; The Times said that in Devon “millionaire hotelier” Giles Fuchs is washing his own dishes; and The Daily Telegraph noted that Le Gavroche in Mayfair is to suspend lunch service due to…

1 мин.
scam watch

“Scams are running rampant in the cryptocurrency markets as a huge rally in bitcoin, a lack of regulation and the anonymity of digital money have created a ripe environment for fraudsters,” warns Alexander Osipovich in The Wall Street Journal. US consumers lost almost $82m to related scams in the six months to the end of March. That’s more than ten times as much as in the same period last year, according to the Federal Trade Commission, and it relies on self-reported figures, so is almost certainly an underestimate. It’s not just the US – investors in Germany are estimated to have lost between €500,00 and €1.5m to a crypto venture called LUB. Its supposed new cryptocurrency promised daily returns of up to 10%, but its anonymous creators vanished in May.…

1 мин.
good week for

“Carpe diem” seems to be the post-Covid-19 motto of the world’s super rich, Sam Tucker, head of superyachts at VesselsValue, tells The Daily Telegraph. According to the consultancy’s data, sales of superyachts (those which are 24 metres and longer) are soaring. There are now 731 on order, compared with an average of around 250 a year for the past decade. Prices vary, but $1m per metre is the rule of thumb. Ruffer Investment Company, the first fund manager to buy bitcoin, revealed this week that it had made a “quick” $1.1bn in five months from the trade, says The Sunday Times. The trust invested around $600m in November last year as a way to hedge against inflation, but sold in April asit hit all-time highs, reported investment director Hamish Baillie.…

1 мин.
bad week for

Superhero series Jupiter’s Legacy (pictured), part of an effort by Netflix to create a Marvel-style cinematic universe based on comics created by Scottish writer Mark Millar, has been all but cancelled, despite the eight episodes costing a reported $200m to make, says Forbes. Having “earned lousy reviews and apparently poor enough post-debut viewership to not get a second season”, it is being rolled into a spin-off, Supercrooks. Asparagus lovers will have to pay up for their favourite dish – supplies of British asparagus are “desperately low”, Chris Chinn, chairman of the British Asparagus Association, tells The Grocer. An “absolutely shocking spring” of cold, dry weather has hit crop yields, putting retailers and wholesalers in the “extraordinary” position of having to rely on imports, mainly from Peru.…

4 мин.
the bulls return to emerging markets

The bulls are charging back into emerging markets. The MSCI Emerging Markets index has lagged so far this year, gaining 6.8% to the developed world’s 11.7%. Yet last month it outperformed developed markets for the first time since January, says Bloomberg. The commodity boom has powered the latest rise: materials and energy make up 14% of the MSCI EM index, compared with 8% for the developed market gauge. Global money managers pulled $44bn from emerging markets during the first half of 2020, says Jonathan Wheatley in the Financial Times. But they have since returned in force, pouring more than $100bn into emerging equities and bonds during the nine months to 31 March. Covid-19 blues An emerging-market economy is one that is moving “from low-to-middle income to high income”, explains Fidelity International on…

1 мин.
the oil rally may run out of puff

Brent crude was trading north of $71 a barrel this week, its highest level since May 2019. The latest leg of the rally was due to Opec+, a group of major producers led by Saudi Arabia and Russia. The group has been collectively withholding millions of barrels of daily production from world markets in order to prop up prices. Last week they agreed to maintain their existing plan to unwind those curbs slowly rather than upping production more quickly to take advantage of higher prices. The surge in crude has also been fuelled by optimism about economic reopening, says Patti Domm for CNBC. America has now entered its summer “driving season”. Reopening economies mean global demand should grow by seven million barrels per day (mbpd) between the first and third quarter,…