Measures to suppress Covid-19 are causing untold damage to students and young people September 30, 2020 The motto of the Young Money Blog is “don’t get mad — get informed”. But in recent weeks and months, I’ve found it hard not to get mad. As we try to head into an uncertain and bleak winter, emergency laws designed to curb the spread of Covid-19 are fast becoming a moral and economic [...]
Could decarbonisation be the mega-trend of the next decade? September 28, 2020 US equities have led global stock markets higher over the past decade. In the last ten years, US equities have returned a stellar 292%, compared to just 73% for global equities (as measured by the MSCI USA Index and MSCI AC World ex US Index respectively, in US dollar terms, as at 31 August 2020). [...]
Thomas Cook relaunches as online-only firm September 16, 2020 Iconic holiday firm Thomas Cook will today relaunch as an online-only company, a year after going bust in dramatic circumstances. To start with, the new travel company will sell holidays to destinations that are on the government’s safe travel list. In November, Chinese firm Fosun, which also owns package holiday brand Club Med, acquired the [...]
The Crypto circus is back in town! This year’s star attraction? DeFi (Part 2) September 8, 2020 When the gas escaped from the ICO bubble market in early 2018, speculators and developers scrambled to find a new way to generate the huge funds and rampant growth previously offered by now collapsed initial coin offerings. DeFi is just the latest in the line of new, and ultimately self defeating attempts to bring back [...]
UK house prices hit record high as stamp duty cut powers market September 7, 2020 UK house prices hit a record high in August after pent-up demand and the stamp duty holiday combined to power the market upwards, according to lender Halifax. However, Halifax cautioned that prices were “unlikely” to continue on their current path, with rising unemployment set to catch up with the market. Prices rose 1.6 per cent [...]
First Group shares jump as buyers circle US bus operations September 7, 2020 Shares in transport operator First Group popped this morning after reports that a number of buyers were circling its US operations, which were put up for sale in March. By the mid morning, shares in First Group, which runs bus and rail businesses in the UK and US, were up over 15 per cent at [...]
New car sales fall in ‘disappointing’ August for market September 4, 2020 New car sales dropped again last month, reversing July’s increase, with just over 87,000 models sold in what is traditionally one of the quietest months for trading. According to new figures from the Society for Motor Manufacturers and Traders, new car sales fell 5.8 per cent in August. In July, the first full month of [...]
HSBC pulls low-deposit mortgages after surge in demand September 2, 2020 HSBC UK today said it was restricting its low-deposit mortgages to those switching rates after a surge in demand. The bank said it is “temporarily reserving its mortgages over 85 per cent Loan to Value (LTV) for those customers switching rates.” HSBC was the only High Street bank to continue to offer 90 per cent [...]
UK house prices recover from lockdown to hit all-time high in August September 2, 2020 UK house prices recovered from a lockdown-inspired dip to hit an all-time high last month. Annual UK house price growth picked up 3.7 per cent in August, according to Nationwide’s house price index. Prices rose two per cent month-on-month, after taking account of seasonal factors. The average UK house price rose to £224,123, up from [...]
Car production slump continues despite signs of improvement August 27, 2020 The slump in UK car manufacturing continued in July, with just 85,000 vehicles rolling off production lines last month, over 20 per cent lower than a year ago. However, the Society of Motor Manufacturers and Traders (SMMT) said the figure showed a “marked improvement” on previous months as factories continued to reopen after lockdown. With [...]