Investor exodus and Kent County Council force Woodford to block redemptions

Investor exodus including Kent County Council, a longstanding backer asking return of £250m has forced Neil Woodford blocking redemption from his £3.7bn equity income fund  after a catalogue of under performance, inflicting serious blow to the reputation of the UK’s highest profile fund manager. The freeze on redemption came exactly five years  after Mr Woodford…

Bitcoin billionaires

Bitcoin Billionaires is a tale of Winklevoss twins and their outrageous venture into the chaotic world of cryptocurrency bitcoin exploring the techno-ideological experiments and financial manias. Ben Mezrich, the New York Times bestselling author of the Accidental Billionaires and Bringing Down the House comes his latest Bitcoin Billionaires.  Harvard educated identical twins Cameron and Tyler…

Amazon better watch out

Alibaba, the Chinese ecommerce group, is overhauling its business model of a fast-growing subsidiary in an attempt to offer a complete international service which can challenge Amazon, the world’s largest online retailer. Trudy Dai, President of Alibaba’s wholesale marketplaces division AliExpress, which sells goods from Chinese retailers to customers in more than 150 countries –…

Capitalism is the best economic system

Torben Iversen, a Danish political science and professor and David Soskice, British economist and professor at the London School of Economics addresses does capitalism conflict with democracy with a resounding “no”, Not only capitalism work, it is also the only economic system that works and insists that democracy and the advanced market economy are symbiotic.…

How to navigate a debt crisis

The founder of the world’s largest Hedge fund Bridgewater Associates which is a global macro investment firm and Hedge fund guru Ray Dalio, simplifies the big debt meltdowns by analysing the issue into cause and effect.  Dealing with Debt Crises is about spreading out the pain, and spread out the cost of the debt widely…

5 boiler room  £2.8m scammers handed down sentences totalling 17.5 years

The Financial Conduct Authority who brought criminal prosecution, its second largest in terms of volume of evidence seized, after successfully investigating five different boiler room groups, one of which claimed to be “ one of the UK’s largest wealth advisory firms”,  a scam that resulted in £2.8m losses, got five people jailed for 18 years…

LSE agrees to merge with Deutsche Boerse

London Stock Exchange Group Plc and Deutsche Boerse AG  agreed to merge, a deal that would create world’s biggest trading organisation as long as rival suitors don’t upend the agreement and regulators give their blessing. The two companies valued at £21.3 billion ($30.5bilion), LSE’s equity holders will own 45.6 per cent while Deutsche Boerse’s stockholders…

Rouge trader jailed 14 years over Libor rate-rigging

A London Jury found former City trader 35-year old Tom Hayes guilty on all eight charges and sentenced to 14 years in prison for conspiracy to defraud at the London Court of rigging global Libor interest rates. He is the first individual to face a jury trial for manipulating the rate, which is used as…

Black Monday : Shanghai stock markets second biggest fall

Black Monday, the Shanghai stock market saw the second biggest fall in its history on Monday 27th July 201, despite the Chinese authorities unprecedented attempts to stop the rout in equities over past month. The Shanghai Composite dropped 8.5 per cent its sharpest slide since February 2007, Chinese startup dropped 7.4 per cent and Shenzhen…