Market Buzz
Sunday newspaper round-up: Investment trusts, LSE Group, Thames Water
Some of London's biggest investment trusts are looking at the possibility of moving to Switzerland in order to dodge rules that make them overstate how much they charge clients. Under leftover EU rules, UK-listed investment trusts disclose charges that are far higher than what investors pay in reality. The news follows enormous drops in value since 2022, when the rules came into effect, according to data from AJ Bell. - Financial Mail on Sunday.
Friday newspaper round-up: Energy bills, working from home, music industry
The number of households seeking help to deal with court action over their unpaid energy bills has doubled in the last year, according to Citizens Advice. The charity said suppliers were increasingly opting to take their customers to court to recover their energy debts, which could ruin household finances for years. It said the use of legal action to pursue unpaid bills appeared to have increased since the industry regulator, Ofgem, introduced strict restrictions on the forced installation of prepayment meters.
Thursday newspaper round-up: Elon Musk, Dr Martens, HSBC
Delivery app riders pedalling through cities and tailbacks at drive-throughs were familiar signs of Britain’s hunger for takeaway food at the peak of the Covid pandemic. Now a study suggests it became an enduring habit. After a boom in orders on Deliveroo, Just Eat and other platforms by locked-down consumers, research by the Institute for Fiscal Studies (IFS) suggests the popularity of takeaways, meal deliveries and food-on-the-go bought from retailer such as sandwiches and crisps has remained above pre-pandemic levels after the removal of Covid restrictions.
Wednesday newspaper round-up: Thames Water, Shell, Nationwide
A bond issued by Thames Water’s parent company has fallen to record lows as the embattled company scrambles to secure its future, and the government signalled it is “ready to step in if necessary”. The £400m bond, issued by the water supplier’s parent company, Kemble, has slumped to only 14. 4p after shareholders indicated that they were unwilling to inject further funds into the heavily indebted utility company. – Guardian.
Tuesday newspaper round-up: Truth Social, Thames Water, Presidio
The value of Donald Trump’s stake in Truth Social fell by more than $1bn on Monday after the social media company revealed it lost $58. 2m last year and an auditor disclosed “substantial doubt” over its ability to continue operating. Shares in Trump Media & Technology Group, the owner of Truth Social, dropped 21. 5% as investors scrutinized the fundamentals of its business. The former president’s vast stake in the firm was worth about $4. 88bn on paper after its extraordinary stock market debut last week .