Wall Street flat and FTSE 100 slips into the red as Archego default hits banks March 29, 2021 Wall Street closed flat and the FTSE 100 slipped into the red today as fears of potential losses from a major US hedge fund defaulting on margin calls held back stocks. While the Dow Jones gained 0.3 per cent, the S&P 500 was 0.09 per cent lower and the tech-heavy Nasdaq closed down 0.6 per [...]
Banks warn of ‘significant’ losses after huge fire sale linked to Archegos March 29, 2021 A huge fire sale of individual stocks last week has seen Credit Suisse and Nomura shares plummet after warning of “significant” losses. On Friday shares in ViacomCBS and Discovery plunged 27 per cent alongside leading Chinese stocks, including Tencent and Alibaba. Over the weekend it was revealed there was a massive margin call on family [...]
Tencent-backed mutual aid site to be axed under China’s fintech crackdown March 26, 2021 Tencent-backed Waterdrop has become the latest subject of China’s fintech crackdown today as it confirmed its online mutual aid platform will shut down at the end of the month. The crowdfunding company provides customers with a basic health plan covering critical illnesses, where its 80m users share the risk of becoming ill and covering the [...]
Uncovering Japan’s hidden gems March 25, 2021 Chern-Yeh Kwok, manager of the Aberdeen Japan Investment Trust, says there is real value in Japanese markets, but it is often overlooked by investors. Japanese companies are used to dealing with a tough backdrop and their natural caution served them well in 2020 The Japanese market thrived amid widespread volatility last year, rising 16% Japanese [...]
Income investors need to broaden their horizons March 25, 2021 Investors with sufficient geographic and sector diversity have managed to side-step the worst falls in dividend payments Asia and emerging markets promise to be rewarding places for income again in 2021 Income stocks may be in prime position for economic recovery 2020 may have been a fallow year for income investors overall, but much depended [...]
Can China really become carbon net zero by 2060? March 24, 2021 At the UN General Assembly in September 2020 China’s President Xi Jinping pledged that the country would become net zero by 2060. This was a surprise move that has been hailed as a significant step forward in the global effort to address the Climate Crisis, given that China is responsible for around 30% of global [...]
FTSE 100 slips as fears of third Covid wave spark recovery concerns March 24, 2021 London’s FTSE 100 dipped by 0.2 per cent on Wednesday as a jump in Covid cases across Europe sparked concerns about its near-term economic impact. The blue-chip index was edged down by bank stocks including HSBC, Barclays and Lloyds falling between one per cent and 1.5 per cent. British consumer price inflation fell to 0.4 [...]
Cineworld confirms May reopening plans as it lines up film deal March 23, 2021 Cineworld today confirmed plans to reopen its 127 venues in the UK in May in line with the government’s roadmap for easing lockdown restrictions. Under current guidelines, indoor socialising and hospitality will resume from 17 May, while the government aims to lift all limits on social contact in June. Cineworld today also said it will [...]
Boris Johnson may face defeat as MPs try to stop trade deals with genocidal regimes March 21, 2021 More Tory MPs have come out to support an amendment to a trade bill that would make it harder for the government to sign trade deals with countries that have committed genocide. Former foreign secretary Jeremy Hunt has now backed the amendment, which would force ministers to justify any trade deal that is signed with [...]
All bets car off: Lamborghini enjoys most profitable year ever despite Covid-19 March 19, 2021 Lamborghini enjoyed its most profitable year ever in 2020, despite coronavirus restrictions and a two-month shutdown of its Italian factory during the pandemic. The luxury car retailer delivered 7,430 vehicles in 2020, generating a record turnover of €1.61bn. Although sales were slightly lower than in 2019, Lamborghini sold more expensive, customised supercars, sending profits soaring. The [...]