Is a rise in this niche borrowing a red-flag indicator for the stock market? September 6, 2018 “There can be few fields of human endeavour in which history counts for so little as in the world of finance.” John Kenneth Galbraith On The Value Perspective blog, we have a folder of what we call ‘red-flag market indicators’. It has started to bulge as investor confidence, a decade into an equity bull market, continues [...]
DEBATE: Is Entrepreneurs’ Relief worth the cost to the government? August 31, 2018 Is Entrepreneurs’ Relief worth the cost to the government? Chris Chapple, tax partner at BDO, says YES. Entrepreneurs’ Relief (ER) is a generous tax relief for business owners – but let’s remember why it was created. Tax law has long offered reliefs to entrepreneurs who sell all or part of their business, of which ER [...]
Stamp duty keeps pensioners sitting tight as housebuilding giant calls for tax exemption August 28, 2018 More than a fifth of pensioners would consider moving house if stamp duty was abolished, according to new research which suggests the property tax is hampering housing market activity. In a YouGov poll out today, 22 per cent of adults over 65 said they would be more likely to move if there was a stamp [...]
Why Elon Musk is far from alone with his stock market dilemma August 23, 2018 Elon Musk, the divisive entrepreneur, has recently made headlines with the following tweet. In a subsequent blog post, Musk made clear his reasons for wanting to take his electric vehicle company, Tesla, away from the stock market. He expressed his frustration at the distraction caused by wild swings in the Tesla share price and perceives [...]
Former Arsenal shareholder settles lawsuit with Deloitte and Linklaters August 22, 2018 Former major Arsenal Football Club shareholder Lady Nina Bracewell-Smith, has settled a lawsuit with her advisers over the sale of her shares in the club in 2011 to US businessman Stan Kroenke. Bracewell-Smith accused magic circle law firm Linklaters and Big Four accountant Deloitte of negligence in relation to the sale of her 15.9 per cent stake [...]
Medium-sized businesses lead UK revenue growth overseas August 20, 2018 Mid-sized businesses are driving the UK's overseas revenue growth and have increased international turnover by 43 per cent over five years, new data has revealed. The increase, from £105bn to £151bn, exceeds that of FTSE 350 companies that have seen a four per cent decline in overseas turnover from £418bn to £402bn over the same period. London's mid-sized firms, [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
Shadow chancellor John McDonnell warns City: ‘People want change… get used to it’ July 30, 2018 It’s fair to say that John McDonnell does not see the world in quite the same light as most City workers. During the first Budget after he became shadow chancellor, McDonnell quoted from Chairman Mao’s Little Red Book, before flinging it at his then-counterpart George Osborne. Years earlier, he was caught on camera saying he [...]
Surprise! Deutsche Bank shares rise as it announces profits beat early | City A.M. July 16, 2018 Shares in Deutsche Bank jumped this morning as the German lender surprised markets by announcing that profits will be significantly above analyst expectations for the second quarter. Deutsche expects to report income before tax of €700m (£618m) for the April to June period, giving net income of €400m, it announced this morning. The ad hoc [...]
Opinion: Look behind the headlines to the data and London house price falls are nothing to worry about July 10, 2018 “Facts are stubborn things, but statistics are pliable.” This refrain from Mark Twain is as true now as it ever was, especially when it comes to assessing what’s going on in the London housing market. Headlines such as “London Falling: House prices in the capital experience lowest growth since financial crisis” might have sent shivers [...]