FTSE 100 outperforms global peers as Wall Street opens lower May 12, 2021 London’s FTSE 100 rebounded today after stronger-than-expected GDP data bolstered optimism about a sharp economic recovery. The blue-chip index rose 0.9 per cent this afternoon, with drinks giant Diageo adding 4.1 per cent after forecasting profit growth and restarting its capital return programme. Elsewhere, Wall Street’s main indexes opened lower this afternoon after better-than-expected inflation [...]
5 jobs in London-based tech companies you need to check out May 12, 2021 There’s a real sense of positivity in the air this week, isn’t there? Probably to do with the slow (but steady) reopening of the country. Plus, the weather has been warm, which always tends to put a pep in our step. You know what else could put a pep in your step? A new, and [...]
Why you shouldn’t try to time the top of the market May 12, 2021 | City Talk At the end of March, the S&P 500 index of US large companies was valued at 34 times its earnings over the past 12 months. This is more expensive than at the peak of the dotcom bubble at the end of 1999, when the figure was 31 times. And it’s a long way above the [...]
Creating a new Corporate Auditor profession May 12, 2021 | City Talk ICAS has issued its Corporate Auditor report, setting out how Sir Donald Brydon’s recommendation to establish a Corporate Auditor profession could be implemented in practice. ICAS notes with interest the intention of BEIS, as proposed in its consultation paper ‘Restoring trust in audit and corporate governance’ (March 2021), to take forward the recommendation by Sir [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
More private sector DB pension schemes in surplus than deficit as UK moves toward economic recovery May 11, 2021 The funding of private sector defined benefit (DB) pension schemes in the last year has become healthier, with the number of schemes in surplus greater than those in deficit. Last month, of 5,318 private sector DB schemes, there were 2,622 schemes in deficit and 2,696 in surplus, according to figures from the Pension Protection Fund’s [...]
Curve follows Series C with crowdfunding round to pursue global expansion May 11, 2021 London fintech Curve has launched a new crowdfunding campaign five months after closing its £72.5m Series C round. Founded in 2015, the company allows users to consolidate all their credit and debit cards into one smart card and app and now boasts more than 2m customers. Its Crowdcube campaign is set to go live later [...]
Myth-Busting: Money printing must create inflation May 11, 2021 | City Talk London ranks ninth on the UBS Global Real Estate Bubble Index for residential properties. Like in many other countries, property prices in the United Kingdom reached an all-time high in 2020. A global pandemic with sudden mass unemployment should have forced UK citizens to sell their homes, but the furlough policies, stamp duty holidays, and record-low interest rates [...]
Impact investing becomes the hot topic but terminology confuses investors May 10, 2021 UK investors are prioritising responsible investment but remain confused when it comes to investment terminology, new research shows. Nearly two thirds of investors surveyed by Close Brothers Asset Management, who currently have an average of £320,000 invested, are prioritising responsible investment over ‘traditional’ returns. Interest in so-called impact investing has surged in recent years and [...]
Wall Street closes lower on inflation jitters May 10, 2021 Wall Street closed lower on today as inflation fears drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the Dow’s decline but the blue-chip average reversed course late in the session to snap a three-day streak of record closing [...]
