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 / News & Politics


Issue 977

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.

United Kingdom
Dennis Publishing UK
Read More
R1 733,69
51 Issues


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

This has been a more than usually bad-tempered election campaign. We are going to press just as it ends, so as I write, I’m afraid I still don’t know what the outcome is. However, here’s what we do know: regardless of who has how many seats in Parliament this morning, they are starting in a pretty good place. Yes, we still have a budget deficit, and yes, all the party promises of more, more and then a little more spending during the campaign were uncomfortable. But nonetheless, the work done over the last decade has seen the budget deficit as a percentage of GDP fall to a mere 1.2% by last March. Practically balanced. The employment rate is 76%. The unemployment rate is 3.8%. Real (after-inflation) wages are rising. Our economy…

1 min.
bad investment of the week

Around 1,500 investors who bought £5.8m in mini-bonds from Mexican-food chain Chilango could be left with “virtually” nothing as the group tries to restructure its finances, reports Anna Menin in City AM. Chilango has filed proposals for a compulsory voluntary arrangement to stave off administration. Bondholders will be offered the choice of cashing out at 10p in the pound, or swapping their bonds (originally marketed with an 8% yield) for preference shares. While these would carry an 8% annual dividend, this would only be payable “dependent on the success of the company”. Given that Chilango is currently loss-making, it’s not much comfort. Creditors have until 3January to vote on the plan.…

1 min.
bad week for:

Staff at the BBC’s New Broadcasting House in London had their festive cheer quashed after bosses decided the corporation’s 16-foot Christmas tree posed a “security risk” and tore it down a week after installing it. The BBC refused to say how much it had paid for the tree, but similar examples cost around “£2,000 fully decorated”, says The Daily Telegraph. Vinegar producers in Modena have failed in a bid to stop others using the term “balsamic”. The phrase “Balsamic vinegar from Modena” has been protected as an EU “geographical indicator” since 2009, but the European Court of Justice said that protection did not extend to “non-geographical terms”.…

1 min.
yet another fiscal boost in japan

Japan’s latest stimulus is to heal a “self-inflicted wound”, says Megumi Fujikawa for The Wall Street Journal. Prime Minister Shinzo Abe has announced a ¥13.2trn (£97.9bn) fiscal package to finance the repair of damage caused by October’s Typhoon Hagibis, put new digital technology into schools and reward shoppers for spending money. The hope is that the package will deliver a 1.4% boost to GDP and offset the negative effect of October’s consumption tax hike. The rise from 8% to 10% saw retail sales plummet 7.1% on a year before. Large fiscal stimulus was a hallmark of Abe’s early period in power when he pulled all available levers in an effort to end Japan’s long period of stagnation. Yet with Japan running the highest government debt levels in the developed world, he…

1 min.

“The way that the modern economy works is to reward the rich for being, well, rich. Between 1965 and the late 1990s, household wealth was between three and four times GDP. In the last 20 years, though, it has jumped to just over seven times. In the past decade, a £350,000 investment would have earned as much as someone slogging their guts out on £26,000 a year. Wealth pays more than work does. The wealthy have the Bank of England to thank for driving up asset prices with quantitative easing and low interest rates... taxes on capital amounted to 1.5% of GDP in 2007... and were still 1.5% of GDP last year... Taxes on property in that time fell from 2.8% to 2.7% of GDP. Yet the richest 0.1% who…

1 min.
ipo watch

Denmark’s Astralis Group has become the first e-sports team to go public. It floated on Nasdaq’s Copenhagen exchange for small companies on Monday in a bid to raise up to $22m. E-sports, in which video-game players take each other on in front of spectators (who watch on streaming websites or in actual stadiums) has become a big business. The global market is worth $1.1bn and has doubled since 2016. The sector will be worth around $2bn in 2020, with an estimated 595 million people worldwide set to become spectators by then. Astralis is ranked the world’s number one in the popular shooting game Counter-Strike and has won millions of dollars in prize money.…