Is technology a new asset class? February 23, 2021 | City Talk With Covid-19 accelerating digitalisation, the question facing many companies is no longer whether technology is important, but just how important? What percentage of their time should a bank or retailer’s top executives spend thinking about technology? How much investment should a company make in tech? What weighting should institutional and retail investors give the sector? [...]
IG Group suspends leveraged bets in 900 shares February 23, 2021 IG Group is withdrawing leveraged share bets on hundreds of firms as the London-based company reacts to the day-trading trend gripping financial markets.
FTSE 100 tumbles as inflation concerns mount February 22, 2021 London’s FTSE 100 tumbled 0.68 per cent today by midday, as higher commodity prices sparked fears of a spike in inflation. The fall was led by declines in consumer staples and industrials stocks, as investors awaited Boris Johnson’s plan for a phased easing of business restrictions. The prime minister will plot a path out of [...]
Bitcoin soars to new high as market cap edges closer to $1 trillion February 19, 2021 Bitcoin has jumped another 2.6 per cent today, to an all-time high of $52,932, putting it within touching distance of a market cap of £1 trillion. The world’s most popular cryptocurrency is on track for a weekly jump of more than eight per cent, having surged around 60 per cent so far this month. Bitcoin’s [...]
NBA star Chris Webber partners with asset manager to launch $100m cannabis impact fund February 17, 2021 NBA All-Star Chris Webber has partnered with JW Asset Management to launch a $100m private equity fund that will invest in companies led by entrepreneurs of colour working in the cannabis sector. The pair will collaborate to invest in underrepresented entrepreneurs in the cannabis industry and provide them with resources that will help them grow [...]
Maybe analyst recommendations DO add value February 16, 2021 | City Talk This is something all investors know for a fact: following analyst buy or sell recommendations isn’t going to lead to outperformance in the long run. Or is it? A new study may cast some doubt on the conventional wisdom. In “Analyst Recommendations and Anomalies Across the Globe,” Vitor Azevedo and Sebastian Müller, CFA, examine 3.8 million analyst forecasts in [...]
Japan overtakes UK as world’s second largest pension market February 16, 2021 The UK pensions market was overtaken in size by Japan in 2020, pushing the UK to third place. The United States retained its position as the largest pension market in the world, making up 62 per cent of worldwide pensions assets. Japan and the UK represented 6.9 per cent and 6.8 per cent respectively. The [...]
Ranked: Monzo tops list of best UK banks as digital services thrive February 15, 2021 Digital fintechs Monzo and First Direct provide better service to customers than traditional banks, according to a recent survey. Ipsos MORI conducted a review of around 1,000 customers from each of the 19 biggest personal current account providers in the UK to rank the best and worst banks. The findings are designed to compare the [...]
FTSE 100 gains despite record slump in UK GDP February 12, 2021 The FTSE 100 pared back its losses this afternoon despite data showing the UK economy shrank by a record 9.9 per cent last year. The figures reflect the damaging economic nature of national lockdowns imposed to curb the spread of coronavirus. Mining and financial stocks led the declines, as the FTSE 250 also dipped by [...]
UK financial services sector maintains stable tax contribution amid Brexit and COVID-19 uncertainty February 10, 2021 | City Talk A new report published by the City of London Corporation today (10 February), shows that the UK’s financial services sector contributed a record £75.6bn in tax in the year to March 2020 – a period covering significant uncertainty about the UK’s relationship with the European Union. This contribution remained stable compared to the previous year’s [...]