Global stocks bonanza: Dow Jones at 21,000 as FTSE 100 hits new record high March 1, 2017 Stock indices around the world have hit more record highs, with the Dow Jones Industrial Average and FTSE 100 both jumping past their previous best levels after US President Donald Trump struck a more emollient tone in a speech to the US Congress. London’s main index rose to close at 7,378.67 points, surpassing its previous peak [...]
President Trump promises “new chapter of American greatness” in first speech to Congress March 1, 2017 President Donald Trump promised a "new chapter of American greatness" in his first speech to Congress, though he's still yet to provide detail on his plans. The President said the US was witnessing a "renewal of the American spirit" and that "our allies will find that America is once again ready to lead". Read more: Migrants [...]
Bitcoin hit an all-time high this morning February 24, 2017 Bitcoin rose to an all-time high this morning according to a widely followed measure, breaking the $1,200 mark for the first time ever before dropping back steeply. The cryptocurrency rose to a peak of $1,206.60 (£960) early on Friday morning, according to Coindesk, which uses measures from multiple exchanges to determine a price. The price [...]
BHP Billiton swings back to profit on strong commodity prices and boosts its interim dividend February 21, 2017 Global mining giant BHP Billiton today revealed a boost to its interim dividend after posting a swing back to profit due to higher iron ore prices. The figures For the six months to 31 December 2016, BHP Billiton said it made an attributable profit of $3.2bn (£2.6bn), up from a loss of $5.7bn the previous year. Underlying earnings before interest, tax, depreciation and [...]
“Rise up”: The full text of Tony Blair’s Open Britain speech on Brexit February 17, 2017 Tony Blair has been absent from British politics for years, now – but today he returned in spectacular style, urging the UK's population to "rise up" against Brexit. Although some (including former deputy PM Nick Clegg) liked it, the majority of reaction has been that he missed the mark. Not sure what you think? Here's [...]
Millennials: The unlikely group supporting Britain’s SMEs February 16, 2017 The Enterprise Investment Scheme (EIS) is growing with spectacular speed. Since its inception, £14.2bn has been invested through the scheme according to HMRC statistics, providing much needed capital to Britain’s entrepreneurial businesses. As well as providing opportunities for companies to gain early stage funding, EIS also provides many benefits for investors, and our research shows that [...]
Want a more equal society? Be careful what you wish for February 14, 2017 Consider this thought experiment. You have been transported back to 1912 and have the power to change the course of history. You foresee a century ravaged by the effects of two catastrophic World Wars, with a resulting 100m casualties. You also know the effects of violent communist revolution and rule, with a death toll almost [...]
Henderson shares hit as fund manager reports £4bn outflows February 9, 2017 Henderson Group’s shares dropped three per cent on Thursday after the fund manager reported outflows of £4bn last year. The figures Assets under management (AUM) grew 10 per cent during the year, closing 31 December at £101bn, as market gains more than offset the net outflows. The company reported underlying pre-tax profits of £212.7m, down [...]
The new indifference: Why markets just don’t care about political risk February 9, 2017 The market reaction to excessive political turmoil has been extraordinary over the last year. Any investor with a crystal ball would have shunned risk assets, given the traditional relationship between political uncertainty and equity market volatility. But they would have been wrong. Incredibly, markets dismissed each event with increasing disdain. There is no sign of [...]
We’ll never solve the housing crisis if we continue to blame it on house-builders and migrants February 7, 2017 England's housing disaster is well-publicised. Construction has not kept pace with demographic change and successive governments have failed to address the consequences. The hotly-anticipated housing White Paper, out today, will sound an attempt to address this and some backlash against its proposals seems inevitable. It’s commonplace for us to blame greedy house-builders or uncontrolled immigration, [...]