Long story short: What investors can learn from Carl Icahn and Netflix July 1, 2019 Seven years ago, shareholders in Netflix – the S&P 500 listed provider of online movies and shows – suffered a crushing loss as it disastrously attempted to raise prices and restructure. Roughly one million customers cancelled their subscriptions. Netflix’s share price plummeted to less than $53 from $300 in a matter of weeks, a loss [...]
Bitcoin crashes from libra high after Coinbase outage June 27, 2019 Bitcoin sank almost $2,000 to give up gains last night as volatility returned after the cryptocurrency approached $14,000. Read more: Bitcoin surges towards $13,000 thanks to Facebook libra Facebook libra’s launch had buoyed bitcoin, pushing the price up until it was just shy of $14,000 last night, its highest level since January 2018. But over [...]
Bitcoin: Is it starting to feel like 2017 all over again? June 27, 2019 | City Talk By Gary McFarlane from interactive investor. Bitcoin’s decisive break above the psychologically important $10,000 mark – with $11,000 breached over the weekend and in sight again – is being driven by institutional investors and the afterglow from Facebook’s Libra news, despite the regulatory and political pushback against Mark Zuckerberg’s global money plans. Also, the recommendations, as expected, from [...]
Carney warns that Woodford-style funds are ‘built on a lie’ June 26, 2019 The governor of the Bank of England Mark Carney blasted funds like Neil Woodford’s today which he said were “built on a lie”. Woodford’s flagship £3.7bn Equity Income Fund was frozen earlier this month after it was hit by a wave of withdrawals it could not meet. Carney told MPs on the Treasury Committee that [...]
Oil price rises on lower US stockpiles June 26, 2019 Oil prices jumped today on the back of news that US crude inventories had fallen by more than expected. International benchmark Brent crude was up 1.2 per cent to $65.87 per barrel, after reaching highs of $66.24 earlier in the day. Read more: It’s no mystery who is behind the Gulf of Oman attack, or [...]
Bitcoin surges towards $13,000 as Facebook Libra boosts bullish market June 26, 2019 Bitcoin has surged to its highest level since January 2018 as its recent boom continues to gather pace. The cryptocurrency rose to just shy of $13,000 (£10,300) yesterday before dipping slightly to just over $12,500, according to data from Bitstamp. Read more: Bitcoin pulls back from 18-month high as cryptocurrency catches Libra fever Bitcoin is [...]
Is the financials sector priced for disruption? June 26, 2019 | City Talk We think all industries are likely to be vulnerable to disruption in the coming years. We’ve seen it already in retail and media, for example, and this is likely to be a growing theme in markets for the long term. Financials, and banks in particular, are currently facing disruption to their business models. We can [...]
FCA chief Andrew Bailey says Woodford debacle a failure of rules not regulation June 25, 2019 Andrew Bailey, the head of Britain’s Financial Conduct Authority (FCA), said the dramatic suspension of Neil Woodford’s flagship fund was due to a failure of rules rather than of regulation. Read more: Hargreaves Lansdpwm execs to defer bonuses amid Woodford fund troubles Speaking in front of the Treasury Committee, Bailey said that Woodford was “using [...]
Up in smoke: Is it time to stub out your exposure to tobacco stocks? June 25, 2019 “Blow in her face and she’ll follow you anywhere.” That was how one advert tried to sell cigarettes back in the 1960s. More than half a century later, the glamorous, seductive veneer of the cigarette industry has gone up in smoke. Gone is the attractive packaging, which has been replaced by ugly images of tarred [...]
Swiss to ban EU exchanges in row that could have implications for City post-Brexit June 24, 2019 The Swiss government said today it was ready to ban stock exchanges in the European Union from trading Swiss shares, in a row that could have repercussions for the City post-Brexit. The move follows the EU refusing to extend stock market equivalence for Switzerland after Brussels grew frustrated with a lack of movement on an [...]