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October Market Commentary

Introduction You will no doubt be aware that September was a month when shortages dominated the headlines. As we will see below, it was by no means a problem confined to the UK: sadly it does not look like a problem that will quickly disappear. We have, for example, written previously about the shortage of […]

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A confused German election: What does it mean for the German Economy?

On Sunday September 26th Germany went to the polls in the first election of the post-Angela Merkel era. ‘Mutti,’ as she is widely known, has been German Chancellor – and, by definition, Europe’s premier politician – since 2005. But she stepped down as leader of the Christian Democrats (CDU) in 2018 and made it known […]

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What is ESG? Will it matter more than the bottom line?

There have been a thousand-and-one articles written since the pandemic on people’s changing attitude to work. Millennials and the generations that follow them – so we are told – want different things from work. Flexibility, the option of working from home and, above all, to work for a company that shares their values: that values […]

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September Market Commentary

Introduction The defining image of August 2021 had little to do with the stock market on the surface, it was, of course, the withdrawal of British and American troops from Afghanistan. As some readers will know, Afghanistan has significant mineral reserves, which some estimates put at $1tn (£730bn). These reserves include lithium, so it will […]

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Is Facebook really worth a Trillion Dollars?

You may have seen the film The Social Network. In the film, Jesse Eisenberg, playing Facebook founder Mark Zuckerberg, is musing on wealth. “A million dollars?” he says, and shrugs. “But a billion dollars… that would be cool.” The film was released in 2010. Eleven years on the scriptwriters may need to add three more […]

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Is there any reason to worry about Inflation?

If you’re the sort of person who likes their glass half-empty then there will be plenty of opportunities to find something to worry about at the moment. The recovery from the pandemic, global tensions and all the staff shortages in the news can turn anyone into a pessimist. On top of that, some are suggesting […]

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Will the Four Day Week become the New Normal?

The effect the pandemic has had on people’s mental health has been well documented. Many people have been juggling work, a home, a family, a relationship, as well as elderly relatives they haven’t been able to see, or daren’t take the risk of seeing. Unsurprisingly, the pandemic has changed attitudes to work and life, with […]

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Is the North East the new London?

When Chancellor of the Exchequer Rishi Sunak delivered his Budget speech in March much of the focus – inevitably – was on the economy’s recovery from the pandemic, and the cost of all the support measures. But Sunak also announced a host of new initiatives including freeports and a new campus for the Treasury. One […]

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August Market Commentary

Introduction  As everyone expected, July saw the G20 endorse the plan from the G7 meeting in Cornwall to set a minimum global rate of corporation tax.  A headline in City AM proclaimed that US tech giants could face a $28bn (£20bn) tax bill, with suggestions that the tax could raise as much as $87bn (£63bn). […]

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Is the Political Map of Europe going to be Redrawn?

  In the first week of May an open letter was published in France. Signed by 130,000 members of the public and published in a right wing magazine, it accused the French government of granting “concessions” to Islam. “It is about the survival of our country” said the text, believed to have originated in the […]

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