First Provident Financial – a lender to the unbanked or those needing a touch of financial assistance before pay day – came a cropper with a news update that included a profit warning, a financial regulator investigation, a CEO resignation and a suspension of the dividend (only!).
Ten years on from the financial crisis, analyst Chris Bailey believes the UK is in danger of repeating a number of its old mistakes.
The biggest reaction came from the value of the British Pound which fell over 1.5% since the close of the US markets on Thursday.
Overall, the reaction of the global markets tells us that the interpretation of the UK General Election exit poll is that the Pound is going lower, Brexit will be potentially tougher to negotiate, internationally-oriented UK shares are going to be stronger.
Macron’s success is a triumph for the European ideal, but his biggest challenge will be to shape a coalition of like-minded interests in the French Parliament to push through much-needed reforms.
So the pollsters were – for once in the last couple of years – absolutely spot-on. The two candidates for the second round of the French Presidential election in just under a couple of weeks’ time will be the centrist Emmanuel Macron and the populist Marine Le Pen.
My instinct is that if he was still alive Charles de Gaulle would not be impressed by the French Presidential race of 2017 and would probably think he could sweep the field if he ran himself.
Cocoa price-linked investments are almost as exotic as the history, intrigue and stories around the product itself, but having something at least chocolate facing in your portfolio makes some sense.
‘Everything can be fixed by either duct tape or WD40: If it doesn’t move and it should, use WD-40. With my finance geek hat back on again, the other aspect I really like about WD-40 as a company is that they report early in the global quarterly earnings cycle. As a company that sells its eponymous
There is only one thing to do if you are writing an investment column on 31 March…and that is to give out some awards for the winners, losers, geniuses and failures in the world’s financial markets during the first quarter of 2017 based on my completely subjective personal view. All lobbying, postal
Given the wondrous returns from most equity and bond markets since the 2007-2009 global financial crisis, we are overdue a correction, especially as recent history has seen such muted volatility in leading global bourses. A stock market cycle is always significantly more volatile than an economic cycle
‘My interest is in the future because I am going to spend the rest of my life there’ – Charles Kettering, American inventor, engineer and businessman. The better interpretation is that some of the aforementioned political factors, plus events in Europe like the election in the Netherlands, have failed
Do you know how to judge whether the history books will be kind on the Budget statement given on Wednesday by the Chancellor of the Exchequer? Back in November at the time of the Autumn Statement growth of 1.4% for the UK economy in 2017 was anticipated but in the Budget statement this had been hiked
Now from the outset I want to make this clear that this has nothing to do with gold which remains – in my view – a great mixer investment for your core holdings of a diversified range of equities in today’s world. No, the fool’s gold I am referring to is that old chestnut of initial public offerings
‘Accounting does not make corporate earnings or balance sheets more volatile. Anyone who fancies being the next Warren Buffett has had a busy week with a lot of corporate earnings disclosures. In the London market alone large cap mining names such as BHP Billiton, Anglo American and Glencore have shared
A man cleans the glasses of the vault of the Mexican stock exchange building on November 15, 2016, in Mexico City. You probably formally hear from your pension fund manager once or twice a year. Every month though they collectively tell the world what they are excited or worried about in an industry
Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on Nov. 9, 2016 in New York City. Global markets originally dropped after Trump began to pull ahead of his rival Hillary Clinton. Have I shared with you my theory
The governor of the Bank of England Mark Carney gives a press conference, his first since the leave result of the European Union referendum, at the Bank of England in the City of London, June 30, 2016. By my reckoning there were utterances or actions from three central banks around the world over the
Did you wear a “Dow 20k” hat on Wednesday when the venerable US index not only pushed above that big round number level but stayed above it? Now round numbers do matter a little but beyond a boost for hat makers and investment salespeople we should not get too excited. Share prices go up over time
In the pantheon of great Presidents over the last couple of centuries of so most commentators would include Theodore Roosevelt (US President 1901-1909). Above, I included one of his more famous comments which he uttered in a descriptive comment about the driving forces behind US foreign policy in the
If only losing the pounds was as easy as how the British Pound has shed its value so far this year against most currencies apart from the heavily pressured Turkish lira and Mexican peso! Every commentator has – of course – jumped on the U.K. Prime Minister’s interview on television last Sunday, when
Happy New Year…that is unless you are an investment or political risk strategist in which case the dawning of 2017 should be dubbed an ‘Unhappy New Year’. The average stock market investor is probably scratching their head about all of this with the FTSE 100 and various US indices kicking around all-time
To use a football expression it was a game of two halves for financial markets in 2016 with the key investment decision being at some point close to the Brexit referendum result to sell some bonds and buy some equities. Of course this was against almost all prevailing investment logic that Brexit presaged