Old Mutual North American Equity added to the Foundation Fundlist Ian Heslop outperform S&P 500 US stock market quantitative FANG Amazon Facebook July 10, 2018 | City Talk Finding funds that consistently outperform the American market is, it is often said, notoriously difficult. This has certainly been the experience over the past decade, accentuated in the past few years by the dominance of larger companies in dictating market returns, notably the so-called ‘FAANG’ stocks: the quintet of Facebook, Apple, Amazon, Netflix, and Google, [...]
UK GDP growth recovers in May boost to Bank of England hawks July 10, 2018 The British economy did not accelerate in the three months to May compared to the first quarter, according to monthly data released for the first time by the Office for National Statistics (ONS) – although a bounceback during the month of May itself will relieve Bank of England hawks hoping to raise interest rates. UK [...]
World Cup delivers consumer spending boost as pubs rake in 10 per cent more cash July 10, 2018 The World Cup prompted the biggest spike in non-essential consumer spending in June since October 2016, as Britons spent 33 per cent more in pubs during England’s first match. Non-essential spending jumped by 5.5 per cent in June compared to the previous year, the strongest year-on-year growth since October 2016, according to data to be [...]
DEBATE: Do the resignations of David Davis and Boris Johnson make a no-deal Brexit more likely? July 10, 2018 Do the resignations of David Davis and Boris Johnson make a no-deal Brexit more likely? Diane James, an independent MEP, says YES. So, David Davis, Boris Johnson, and Steve Baker have resigned. Their principled stand should be applauded. They see and welcome the opportunity to simply walk away from the clutches of Brussels. Finally, we [...]
London business confidence rises to highest since Brexit referendum July 10, 2018 London’s businesses are more confident than at any time since the 2016 Brexit vote, according to new figures to be published today. The balance of firms in the capital reporting they are optimistic about the prospects for their firm rose to zero per cent in the second quarter – a 10-point quarterly increase – the [...]
Twitter shares close five per cent down after site suspends 70m suspicious accounts July 9, 2018 Twitter shares closed up over five per cent down today after it revealed it had deleted millions of suspicious accounts. After confirming it had closed around 70m accounts in May and June, shares dropped as much as 10 per cent, before recovering later on in the day. The large number of suspensions could hit the [...]
Theresa May vows to fight on as Boris Johnson warns “the Brexit dream is dying” July 9, 2018 Embattled Theresa May has vowed to fight off any challenge to her leadership as outgoing foreign secretary Boris Johnson accused her of raising “the white flag” in the UK’s Brexit negotiations. On a day of high drama in Westminster the Prime Minister, already reeling from the resignation of her Brexit secretary David Davis and his [...]
Tesla hikes its car prices in China in the face of the US-Sino trade war’s rising tariffs July 9, 2018 Electric car manufacturer Tesla has hiked the price tags of its cars in China, becoming one of the first carmakers from the US to react over rising trade tensions between the two countries. The company raised the prices of its Model X and S cars in China by up to $37,600 (£28,226), according to local [...]
Asian buyers dominate City of London property market July 9, 2018 More than half of all commercial property purchases in the City of London come from Asian investment, new figures reveal. While 57 per cent of commercial properties in the Square Mile are bought by Asians, the second-highest investors by continent are the Europeans, buying 14 per cent over the same period of the most recent [...]
Brexit: Foreign secretary Boris Johnson has resigned over Theresa May’s Chequers plan July 9, 2018 Foreign secretary Boris Johnson has resigned, just hours after his Cabinet colleague David Davis walked. The former Vote Leave campaigner has quit following last week’s Chequers meeting, in which the Prime Minister pushed a plan that he reportedly described as “a turd”. City A.M. reported last week that Johnson has been outraged by Theresa May’s [...]