This morning: Silver receives Gamestop treatment on Reddit February 1, 2021 Silver shines this morning as the metal is experiencing a rise in demand thanks to postings on Reddit, targeted in a similar fashion as Gamestop last week. What silver is going through this morning is the same rude awakening financial markets received last week when a swarm of retail investors, who were chatting with each [...]
The week ahead, 1-5 February: FTSE heavyweights front up to third lockdown January 31, 2021 After a turbulent opening to 2021, with new Covid-19 lockdowns around the world, spats over “vaccine nationalism”, and chaos on both Wall Street and Pennsylvania Avenue, a slew of FTSE heavyweights are set to update the market in what will be a crunch week for London’s indices. Despite a strong opening week, the FTSE 100 [...]
Cryptoshonk! What a time to be alive! January 29, 2021 What a time to be alive used to be a euphoric and jubilant phrase that celebrated life and the world we lived in. Under lockdown, the phrase is now used ironically as that celebrated world feels more like an Old and Lost World. Another Eden destroyed and lost. Covid is the New Flood. As usual, [...]
Shortlist announced for London’s top environmental awards January 29, 2021 The City of London Corporation has revealed the 10 Square Mile businesses shortlisted in the capital’s top environmental gongs – the Clean City Awards. The scheme, now in its 26th year, rewards businesses leading the way in improving their environmental performance – be it by reducing plastic use, taking action to cut carbon emissions or by boosting recycling. [...]
Doner kebab top of the list for convicted Libor-rigger Tom Hayes after he’s freed from jail January 29, 2021 Doner kebab top of the list for convicted Libor-rigger Tom Hayes after he's freed from jail
Government set to write off estimated £31bn of pandemic loans January 29, 2021 An estimate of £31bn of government loans handed out during the pandemic will have to be written off, according to the UK’s spending watchdog. In its latest Covid-19 Cost Tracker, the National Audit Office (NAO) forecast that the total cost of the pandemic for Britain will balloon to £271bn, of which £116bn has been spent [...]
City firms and entrepreneurs back Mail’s laptops for kids scheme January 28, 2021 A number of City of London firms have backed a Daily Mail campaign to provide laptops to underprivileged children during the Covid-19 lockdown. Leading entrepreneurs, including Sir Tom Hunter, have also donated significant amounts. The Mail’s campaign aims to put laptops in the hands of all children who would otherwise be without the technology needed [...]
Are any stock markets cheap going into 2021? January 27, 2021 Where is the value in stock markets today? This is a difficult question to wrestle with. At face value, the bad news is that everywhere looks to be at nosebleed-red levels of expensiveness. Of the 25 measures in our regular stock market valuation grid below (five markets and five measures for each), 16 are more [...]
Taper Tantrum 2: is there a sequel in the making? January 26, 2021 Sequels – occasionally they’re better (The Godfather Part II), but most of the time they’re worse. Often far worse (Jaws: The Revenge). As investors and economists look for the next market risks after the pandemic, some are now expecting a follow-up to 2013’s blockbusting Taper Tantrum. This sequel could even be coming to (trading) screens [...]
The City View: Steve Hawkes and Susannah Streeter January 24, 2021 City A.M. Acting Editor Andy Silvester speaks to two media heavyweights to look at the week to come on both sides of the Atlantic. Susannah Streeter looks at big updates from Apple and Tesla, whilst Steve Hawkes – formerly Sun City Editor and once upon a time 25/1 shot to become the next Bank of [...]