Three themes for 2019 – and some black swans February 8, 2019 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
Kamikaze Brexiteers may end up in a hell of their own making February 8, 2019 Hell hath no fury like a Brexiteer scorned. From the backlash this week, you would have thought that European Council president Donald Tusk had suggested that the EU get custody of the Queen in the Brexit divorce. “I’ve been wondering what that special place in hell looks like, for those who promoted Brexit, without even a [...]
Renault will alert prosecutors over costs for Carlos Ghosn’s Versailles wedding February 7, 2019 French car firm Renault will alert prosecutors over a sponsorship deal with the Palace of Versailles which included a €50,000 (£43,720) benefit to its ousted boss Carlos Ghosn. Renault’s internal probe, launched after Japanese authorities arrested Ghosn in November, has “identified that Mr Ghosn was accorded a personal benefit valued at €50,000 under the terms [...]
Putin suspends missile treaty and pledges to build more weapons February 2, 2019 Russian President Vladimir Putin said today that Russia has suspended a cold war era treaty to limit missile building after a similar move by the US. Putin told a meeting with foreign and defence ministers that Russia had suspended the Intermediate-Range Nuclear Forces Treaty which limits land-based missiles with ranges of 310–3,420 miles. Putin [...]
US to withdraw from Cold War nuclear missile treaty with Russia February 1, 2019 The US confirmed today that it will pull out of the Intermediate-Range Nuclear Forces (INF) treaty that came about in the wake of the Cold War, after repeatedly claiming that Russia has violated the agreement. The pact, signed between the US and Soviet Union in 1987, bans production, testing and deployment of land-based cruise and [...]
Problems mounting for stubborn Maurizio Sarri as his footballing philosophy shows its weaknesses at Chelsea January 31, 2019 On the face of things Chelsea are far from a club in crisis. They sit outside of the Premier League’s top four on goal difference and are still in all four competitions, having progressed to the final of the Carabao Cup and the fifth round of the FA Cup in the last eight days. The [...]
Facebook shares soar as it beats estimates on revenue and user numbers January 30, 2019 Shares in Facebook jumped more than eight per cent in after-hours trading tonight, boosted by a welcome set of positive fourth quarter results for the beleaguered social media firm. Revenue at Facebook rose to $16.9bn (£12.9bn) in the three months to 31 December, up 30 per cent compared to the same period last year and [...]
Bill Browder attacks British establishment for allegedly accepting Russian money laundering bribes January 30, 2019 Financier and prominent Putin critic Bill Browder has launched an incendiary attack on "members of the British establishment" for allegedly accepting bribes linked to Russian money laundering. Browder, the chief executive of Hermitage Capital Management, alleged that an investigation into money laundering had uncovered evidence that members of the House of Lords have received bribes [...]
Apple sales come to the fore as big tech firms brace for crunch results January 29, 2019 Silicon Valley will be preparing for market instability this week as several members of the so-called Faang grouping gear up to report quarterly results for the recent festive period. Three members of the big tech club – which includes Facebook, Apple, Amazon, Netflix and Google – will publish figures amid rising speculation that their time [...]
Margarita Louis-Dreyfus completes share buyout after family dispute January 28, 2019 Margarita Louis-Dreyfus has completed the buy out of the Louis Dreyfus Company marking the conclusion of a long-running family shareholder dispute. Louis-Dreyfus, the widow of Robert Louis-Dreyfus whose family founded the agricultural commodity traders in 1851, had aimed to increase her stake since the death of her husband a decade ago. Read more: Family shareholder dispute [...]