Dish of the Day: Salt Yard’s Ben Tish on the perfect strawberries and cream August 6, 2014 There’s nothing like the sight and scent of perfectly ripe, red strawberries to get summer spirits soaring. My take on the quintessentially English classic of strawberries and cream is quick and easy to prepare, making it a great choice of pudding for a spontaneous barbecue or al fresco lunch. Macerated simply means you’re throwing it [...]
CNBC Comment: Why markets are drowning in uncertainty August 4, 2014 It’s been a hot summer for some, with US stock markets breaking out to fresh highs in July, and European investors debating whether to dip a toe in the water on the back of more European Central Bank (ECB) action. But as thunder clouds roll in, and after Wall Street suffered its worst week since [...]
CNBC Comment: Why UK banks aren’t riding the recovery July 28, 2014 THE TIES between Britain’s banks and its economy have always been close. But they have seemed even closer in the post-banking bailout era. On Friday, when RBS rushed out its second quarter results a week early (which was rather odd in itself – don’t companies usually only rush out results if they’re either worse than [...]
The sanction spiral: Russia and Europe may fall into recession July 21, 2014 A trade “tit-for-tat” would hit both sides extremely hard EVEN before the tragic Malaysia Airlines plane crash in Ukraine last Thursday (allegedly the work of Moscow-backed separatists), Russia was already reeling from the US’s tightening of the screws. The country’s Micex stock index tumbled 2.3 per cent to 1,440.63 last week after news that financial [...]
CNBC Comment: Why instability isn’t spooking markets July 21, 2014 THE BIGGEST point markets are making at the moment is that they aren’t making a big point. Given increased tensions around Russia and Ukraine, we are closer to war in Europe than we have been for a long time. Simultaneously, the death toll in Gaza tragically keeps rising. Yet despite these dominating geopolitical events, involving [...]
Scottish independence: Why the referendum matters July 14, 2014 Even a “No” vote will mean radical shifts in political power. Warnings of market complacency have come thick and fast recently. Just yesterday, Bank for International Settlements chief Jaime Caruana said investors are ignoring the prospects of coming rate rises amid a giddy hunt for yield, while the geopolitical crises tearing through the [...]
CNBC Comment: Portugal’s banking crisis sends it back to cloud cuckoo land July 14, 2014 Can it be three years since I was last in Cloud Cuckoo Land – sorry, I mean Portugal – talking about the fundamentals in one of the former problem children of the European debt crisis? It seems to have flown by. It’s good to know, though, that last week’s risk hiccup over a medium-sized [...]
The volatility debate: Be wary of betting on a swift reversal July 7, 2014 Central bank policy has distorted many asset markets. Financial markets have been remarkably tranquil of late. Traders accustomed to the ructions of recent years are now starved of volatility, with the US equity “fear index” (the Vix) continually falling towards pre-crisis lows (see graph, bottom left). As Gemma Godfrey of Brooks Macdonald points [...]
CNBC Comment: Private equity M&A is still a risky game July 7, 2014 Deal after deal, the first six months of 2014 was a bumper period for mergers and acquisitions. But this deal fever, combined with private equity exits, has led bears to warn of a market top. Is it a matter of time before scalps are claimed, or are the players savvier this time round and [...]
In pictures: London’s new super-yacht hotel July 1, 2014 London is famous for its hotels; from the Ritz to the Dorchester the capital isn't lacking in swanky pillows to lay your head. On 4 August they are set to be joined by a new float. The Sunborn is a four-star super-yacht hotel with 136 rooms and suites, a cinema, restaurant, and spa treatment facilities; as well [...]