The truthiness of ESG criticism February 2, 2021 | City Talk There are two often-repeated critiques of Environmental, Social, and Governance (ESG) investing that I really can’t stand. They have the quality of truthiness about them and are what academics sometimes call “as if” arguments. For my younger readers, the term truthiness is defined by Wikipedia as follows: “Truthiness is the belief or assertion that a particular statement [...]
First-time investors push profits higher at Hargreaves Lansdown February 1, 2021 A surge in younger investors investing for the first time have helped push up profits at the UK’s largest investment platform Hargreaves Lansdown. Hargreaves Lansdown reported a 10 per cent increase in pre-tax profit in the six months to December, to £188.4m, compared with the same period a year earlier. Net new business was up [...]
Hedge fund Melvin Capital bags billions from investors following GameStop debacle February 1, 2021 After losing more than 53 per cent in January, Melvin Capital, the hedge fund at the centre of the GameStop drama, enjoyed a cash injection from investors in the last days of the month. The firm started the year with roughly $12.5bn, according to reports, but that dramatically dipped after it was at the centre [...]
The changing face of markets February 1, 2021 | Sponsored I see myself as a ‘global’ citizen that, through my work over the last 20+ years, has developed a deep experience of capital markets and exchanges. At the beginning of this century I was part of the creation of Euronext that resulted a few years later in leading its European cash market from Paris before [...]
City watchdog to crack down on ‘buy now pay later’ firms February 1, 2021 The City watchdog is preparing to move in on so-called buy now pay later firms such as Klarna following a review of the unsecured credit market. The Financial Conduct Authority (FCA) will this morning publish a report by interim chief executive Chris Woolard recommending that the sector be brought under the regulator’s remit, Sky News [...]
What next for Biden’s climate and social agenda? January 29, 2021 | City Talk Joe Biden ran on one of the most progressive platforms the US has ever seen, with climate ambition at its heart. His victory will result in a sea-change in US climate ambition. That said, the narrow margin of victory will pose challenges for the more ambitious elements of his agenda. Below we assess the policy [...]
EU securities watchdog calls for stricter regulation on greenwashing January 29, 2021 The European Securities and Markets Authority (ESMA) said today EU rules are needed to regulate ratings on the environmental, social and governance (ESG) aspects of companies to avoid investors being deceived by “greenwashing”. Asset managers use ESG ratings to make “green” environmentally conscious investment decisions. Greenwashing refers to inaccurate claims that investments are sustainable and [...]
Pension funds will reap rewards from playing a part in the UK’s green drive January 28, 2021 In November, heads of state, climate experts and campaigners will come together in Glasgow for the United Nations Climate Change Conference, the biggest summit ever hosted by the UK, to discuss, and commit to, ambitious climate targets and concrete steps to protect our planet. International collaboration is essential, but the success of global action will comprise the [...]
Exclusive: Friendship app Yubo to expand workforce 10-fold this year, says CEO January 28, 2021 In a year that saw UK schools close their doors and social gatherings move to video platforms, Gen Z ‘friendship’ platform Yubo saw live streams increase by 550 per cent, with streamers spending an average of two hours per day on the app. Since its launch in 2015, the platform that connects people based on shared interests has [...]
Are any stock markets cheap going into 2021? January 27, 2021 | City Talk Where is the value in stock markets today? This is a difficult question to wrestle with. At face value, the bad news is that everywhere looks to be at nosebleed-red levels of expensiveness. Of the 25 measures in our regular stock market valuation grid below (five markets and five measures for each), 16 are more [...]
