Tag Archives: invest

EU powergrab FAILS: US to massively invest in City – Brussels’ plan flops

A new survey of 68 large American companies that employ more than 275,000 people in the UK found businesses have a “very high” confidence in Britain as a place to do business. Around 60 percent said they would increase investment in the UK.

Anna Marrs, a group president at American Express, said the geographical position and UK timezones make it an “ideal jumping-off point” for their operations outside the US.

She said: “The combination of a strong and multilingual talent base, a supportive business environment, and geographical and timezone advantages continues to make the UK an ideal jumping-off point for our operations outside the US.”

Dan Glaser, president & chief executive of Marsh McLennan, added: “The UK is a large and dynamic economy with outstanding regulatory and educational systems.

“Top talent from around the world want to work and live in Britain.”

While Duncan Edwards, chief executive of BritishAmerican Business, said the UK is “very well-positioned” to attract companies from the US.

He told the Financial Times: “The UK is very well-positioned to continue to attract companies from the US and from around the globe.

“But this positive outlook will be enhanced by a comprehensive trade deal with the US, a more positive political and trading relationship with the EU, and more business-friendly domestic policies.”

Jonathan Frick, a partner at Bain in London, said US investors had maintained the majority of their workforce despite Britain’s departure from the European Union.

READ MORE: EU cracks showing as Brexit dubbed huge loss for Sweden

Nearly 40 percent of companies said the top priority should be to improve the political and economic relationship with the EU.

This would allow the UK to maintain its top ranking as a destination for US investment.

International Trade Secretary, Liz Truss, is expected to travel to the US this week to meet officials.

This financial boost comes just months after several banks – including Morgan Stanley, Barclays and Goldman Sachs, moved senior bankers out of London.

These firms looked to centres in Frankfurt, Paris and Milan due to the lack of provisions in the Trade and Cooperation Agreement.

Many companies called on Prime Minister Boris Johnson to agree a financial services deal with the EU although Brussels has stalled on doing so in order to pressure the UK over elements of the agreement.

The UK and EU agreed on a memorandum of understanding in March to continue the cooperation between financial regulators but Brussels did not grant equivalence.

The survey was carried out by US/UK trade association BritishAmerican Business and consultancy Bain.

It questioned businesses from sectors such as financial services and manufacturing to technology, media and telecommunications.

ISA savers invest in cash accounts despite low interest rates – how to boost your returns

ISA decisions appear to have been forced on savers recently as according to analysis of HMRC figures from Hargreaves Lansdown (HL), coronavirus has sparked a “last-minute” ISA dash. In examining the details, it was found that cash ISAs remain popular among savers, even in a low interest rate environment.

Sarah Coles, a personal finance analyst at HL, broke down these figures.

She said: “The coronavirus crash sparked a last-minute dash into ISAs in the 2019/20 tax year. Both cash and stocks and shares ISAs took more money than a year earlier, while the number of Lifetime ISAs more than doubled.

“Until the last few weeks of the tax year, stock markets had moved around a little but looked set to end the tax year roughly where they started. The pandemic changed all of that, sparking a massive sell-off that knocked a third off the value of the FTSE 100. Suddenly investors saw huge value in the market, and rushed to buy before the end of the tax year.

“We saw the impact of this rush at HL. In the last week of the tax year, there were 2.96 million visits to the HL website – up from 1.07 million a year earlier. In the final hour, a HL stocks and shares ISA was opened or topped up every seven seconds.

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“This was just the beginning too, as the pandemic gave people the time, money and enthusiasm for investment that saw an enormous boost in stocks and shares ISAs. Next year’s figures are going to show another big increase.

“2019/20 was a huge year for Lifetime ISAs, which more than doubled from a year earlier. Whenever a new ISA is launched we see the numbers climb as people get familiar with them, and in its second year, the LISA has boomed. Next year we expect these figures to have jumped again, as people who made lockdown savings ploughed their money into LISAs to help meet their property and retirement goals.”

Sarah went on to examine cash ISA which prove to be popular despite their limited benefits in the current market: “Despite a lacklustre cash ISA season, the number of cash ISAs was up from a year earlier too: almost £50billion was saved into cash ISAs. They’re by far the most common home for our money, and made up 75 percent of all ISAs we paid into during the year.

“Savers are realising that despite the tax-free savings allowance, there are still very good reasons to open a cash ISA. For a basic rate taxpayer with modest cash holdings, you won’t save any tax today: the key is what you could save further down the line as your savings build – especially if interest rates rise, you move tax brackets, or the savings allowance is cut.

“However, although cash continues to dominate, the rush into stocks and shares ISAs at the end of the year can be seen in the figures. For 14 of the past 15 years, cash ISAs have made up a larger proportion of new ISAs than we saw in 2019/20.”

While many experts welcomed the fact that savers are contributing to ISAs generally, some warned savers could lose out by not utilising stocks and shares accounts.

It should be remembered returns from investing in the markets are not guaranteed but over the longer term, sensible investments can generate profits well above what one could get from current interest rates.

Myron Jobson, a Personal Finance Campaigner at interactive investor, commented on this: “The figures show that cash ISAs remain a firm favourite among British savers.

“Despite the low rates on offer, four times as many people opened or contributed to a cash ISA in the 2019-20 tax year than to the stocks and shares equivalent on from the previous tax year (1.2 million versus 300,000).

“However, while the coronavirus crisis highlighted the importance of having cash savings for a rainy day, long term savers should take care to not to keep more than they need in low interest accounts because it can be eroded by inflation.

“Rock bottom savings rates also provide the impetus to invest.

“Investing can be volatile on a day-to-day basis and while the potential for greater returns from the stock market comes with inevitable risk, taking a long-term view means you can smooth out some of those highs and lows whilst benefiting from the long-term potential that comes with this approach.”

This post originally appeared on Daily Express :: Finance Feed

Dogecoin warning: Elon Musk rings alarm bells for crypto gamblers – ‘invest with caution’

The SpaceX CEO and multi-billionaire has taken a particular interest in Dogecoin – the digital currency which began as a joke in 2013 but now is worth almost $ 100 billion. Mr Musk has been a proponent of Dogecoin and other cryptocurrencies for years – but in one of his latest tweets he says that, while fun, there are risks involved.
On May 7, Mr Musk tweeted: “Cryptocurrency is promising, but please invest with caution!”

In the tweet, he included a video link to an interview he did with TMZ published back in April.

In the video, he warned: “People should not invest their life savings in cryptocurrency.

“I think that’s unwise.

“Don’t take too much risk on crypto.”

Dogecoin had a tremendous surge in price over the last week, hitting another peak of $ 0.73 after a brief dip on Friday.

At time of writing, the price of the meme currency has taken a slight drop, coming down almost ten cents in value in the last 12 hours.

Those considering buying Dogecoin should consider the risks of investing in cryptocurrencies, which are notoriously volatile. Here in the UK, the Financial Conduct Authority (FCA) warned: “If you invest in cryptoassets, you should be prepared to lose all your money.”

READ MORE: Jeff Bezos could ‘rocket’ price of Dogecoin tomorrow

“Then it’s like, which one is it going to be? Maybe there will be multiple. But, it’s all speculation at this point.”

This post originally appeared on Daily Express :: Finance Feed

Ark Invest CEO Wood says Hwang provided seed capital for first four ETFs

Ark Invest CEO Wood says Hwang provided seed capital for first four ETFs© Reuters.

(Reuters) – Celebrity stockpicker and Ark Invest Chief Executive Cathie Wood told CNBC on Friday that hedge fund veteran Bill Hwang had provided seed capital for Ark’s first four exchange-traded funds.

Wood said she had held discussions with Hwang about U.S. stocks and, in particular, the media sector back in 2013.

“He did provide the seed for our first four ETFs and we were very grateful to him. It was at a time where market makers were sick of seeding new strategies,” she said in the CNBC interview.

Archegos Capital Management, the New York investment fund run by former Tiger Asia manager Hwang, was preparing for insolvency as banks involved in financing its trades seek to recoup some of their losses, according to a Financial Times report earlier this week.

Archegos fell apart in March when its debt-laden bets on stocks of certain media companies unraveled.

Wood said she had not spoken to Hwang recently.

“I sent him a note after I heard about the unfortunate events that we’ve all witnessed and I’m wishing him well,” she told CNBC.

X: Therefore doesn`t .

Author: Reuters
This post originally appeared on Stock Market News

Exclusive-Baidu's Jidu Auto to invest $7.7 billion in 'robot' smart cars

Author Reuters
This post originally appeared on Stock Market News

3/3 Exclusive-Baidu's Jidu Auto to invest $  7.7 billion in 'robot' smart cars© Reuters. Auto Shanghai show in Shanghai 2/3

By Yingzhi Yang, Yilei Sun and Tony Munroe

BEIJING (Reuters) -Jidu Auto, an electric vehicle venture between China’s tech giant Baidu (NASDAQ:) and Chinese automaker Geely, aims to plough 50 billion yuan ($ 7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.

Xia Yiping said on Friday that the funding would come from Baidu and other investors and Jidu would aim to launch its first electric vehicle (EV) in three years, as is standard for the industry, but would make efforts to speed this up.

Its first EV would look like a “robot” and would target young customers, Xia said, adding that Jidu would analyse big market data before deciding on a final model.

“It will make you feel like it’s a robot that can communicate with you with emotions,” said Xia, who co-founded and served as chief technology officer at Chinese bike-sharing firm Mobike until it was acquired by Meituan in 2018.

Baidu’s Hong Kong-listed shares jumped as much as 1.34% after Reuters reported Jidu’s investment plan.

The launch of the new auto company in January comes as tech companies around the world are racing to develop smart cars after Tesla (NASDAQ:)’s success in commercializing EVs.

Jidu plans to release a new model every one or one-and-a-half years after its first launch, Xia said, without giving a sales target. It plans to hire 2,500 to 3,000 people over two to three years, including 400 to 500 software engineers.

Shanghai and Beijing based Jidu also plans to roll out its branding in the third quarter of 2021, Xia said.

Xia said Jidu, which will use Geely’s open-source electric vehicle platform, hopes to make cars in Hangzhou Bay in China’s eastern city of Ningbo, where Geely has several plants.

It plans to sell its car directly to customers to begin with, without using dealerships.

Chinese search engine company Baidu in January announced it would set up the company with Zhejiang Geely Holding Group to leverage its intelligent driving expertise and Geely’s car manufacturing capabilities. Baidu currently owns 55% of Jidu and Geely has a 45% stake.

Jidu is considering using chips designed by Baidu, which has over the years developed smart car technologies including autonomous driving, high-definition maps and cloud. Baidu first established its autonomous driving unit Apollo in 2017.

Smartphone maker Xiaomi (OTC:) Corp and telecom giant Huawei Technologies are among other Chinese tech giants harbouring auto ambitions.

($ 1 = 6.4939 renminbi)

X: Therefore doesn`t .

Russia to invest nearly $100 million to develop vessel for Arctic survey

Russian authorities will finance construction of a hydrographic vessel to conduct surveys along the Northern Sea Route in Russia’s Arctic, the press office for the Cabinet of Ministers announced on Friday.

“More than seven billion rubles [$ 92 million] will be invested in the construction of the lead hydrographic vessel aimed at operating in the waters of the Northern Sea Route (NSR),” the cabinet said in a statement.

The new ship, which is expected to come into operation in 2024, will be brought into service to meet demand for hydrographic support from the drillers and other companies that ply the icey Arctic seas.
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The survey vessel will join the fleet of Russian Arc7 ice-class ships that are designed to ensure year-round navigation along the Northern Sea Route, and are able sail in ice up to 1.7 meters thick.

The ship has a rated capacity of 8 MW and will be tooled up with technology that ensures safe navigation while it explores the ocean surfaces of the Arctic and the contours of the ocean floor below.

The plan comes as part of a broader push by the Russian government to develop the Arctic. President Vladimir Putin has made Russia’s Arctic region a strategic priority and ordered investments into infrastructure projects, drilling and a fleet of icebreakers and ice-class tankers.

For more stories on economy & finance visit RT’s business section


Just bought a PS5 or Xbox Series X? You'll probably want to invest in this new Samsung TV

If you’ve been one of the lucky few and have managed to get your hands on a PlayStation 5 or Xbox Series X you might now want to consider buying a new telly. Samsung’s latest Neo QLED TVs were unveiled earlier this year with them arriving in stores this month. Along with a new design and improved screen the Korean firm is boasting that its tellies are the perfect companion for anyone with a next-gen console.
That’s because they the first in the industry to gain a ‘Gaming TV Performance’ Certification from Verband Deutscher Elektrotechniker (VDE) in Germany.

Now, it’s likely that you won’t have heard of VDE but this German company is the only organisation in the world that combines science, standardisation, testing, certification, and application consulting under one umbrella.

This sought-after stamp of approval puts Samsung in pole position when it comes to playing games on the big screen with the Neo QLED televisions praised for their Low Input Lag which refers to the period of time from when an electrical signal is sent from the gamepad to when it is displayed on the screen

A TV with a lower input lag will provide gamers with a more immersive gaming experience.

The Neo QLED also scored well for their High Dynamic Range which has a brightness of higher than 1,000 nits.

This HDR technology is able to make bright scenes brighter and dark scenes darker to offer optimised contrast which is again better for playing those top-rated titles.

Along with these features, there are some other treats that might get gamers excited including Wide Game View and Game Bar, both industry firsts, which deliver a broader viewing experience with 21:9 and 32:9, and the ability to quickly check a variety of gaming information.

In addition, Samsung says its 3Neo QLED TVs deliver fast game motion at 120Hz with Motion Xcelerator Turbo+, even during gameplay with fixed UI. Sound has also been enhanced through AI-based surround-sound and object tracking sound (OTS+), delivering the ultimate immersive gaming experience.

Speaking about the new TVs Yonghoon Choi, Executive Vice President of the Visual Display Business at Samsung Electronics said, “An increasing number of gamers look for large screen displays with high-end picture quality when shopping for a TV, and Samsung continues to lead the TV-focused gaming experience.”

Russia pledges to invest $600mn in joint gold refinery in Kyrgyzstan

Russian President Vladimir Putin has taken part in the opening ceremony of a gold processing plant at the Jerooy mine in northwestern Kyrgyzstan. The project was developed by Russia’s Alliance Group in cooperation with VTB bank.

“The Talassky mining complex is one of the largest joint projects that has been successfully implemented,” Putin said via video link, describing the project as vital for relations between the neighboring states.

According to the president, the project in the Central Asian country will see “record volumes” of investment totaling $ 600 million.
Also on rt.com Central banks do not have the physical gold they pretend to have, fund manager tells Keiser Report
“The latest technologies and equipment deployed in the project comply with environmental regulation,” Putin said. “This will enable the enterprise to produce up to five tons of gold per year efficiently, without harm to the environment.”

The former Soviet republic has been trying to develop its second-largest gold deposit since the 1990s. Cooperation with American, Canadian, British and Austrian investors failed to materialize.

Russian companies won the contract back in 2015. By launching the construction of the refinery, Alliance Group accelerated the development of the Jerooy mining project, which reportedly holds around 90 tons of gold and 25 tons of silver.
Also on rt.com World may be running out of gold with mine production in decline
The refining plant was expected to start operating last year, but was attacked during unrest preceding the emergence of current president Sadyr Japarov. The attack reportedly caused  more than $ 10 million in losses for the Russian firms.

For more stories on economy & finance visit RT’s business section