@peter_IFAMAG reads Twitter so you don’t have to.
The Financial Services Compensation Scheme investigates The German Payment Group. Formerly The Dolphin Trust the German operation borrowed up to £600m from the likes of pension investors. Meanwhile, the online gambling industry continues to grow in the UK.
Firstly, Rishi Sunak highlights the 900,000 jobs and tens of thousands of business the Chancellor of the Exchequer has protected during the COVID crisis.
I am proud that we have protected more than 900,000 jobs and tens of thousands of businesses in Scotland.
Year after year, Scotland also benefits from levels of public spending substantially above the United Kingdom average, with a Union dividend of £1,941 per person. https://t.co/jxqBIecXb1
— Rishi Sunak (@RishiSunak) August 27, 2020
Amazon acquires 1,800 electric vans from Mercedes, Jonathan Eley does a back-of-the-envelope calculation.
Amazon to acquire 1,800 electric vans from Mercedes for EU delivery fleet.
They're probably leased, but assume a cost of €50,000 each and the entire fleet costs comfortably less than a day of Amazon's operating cash flow
— Jonathan Eley (@JonathanEley) August 28, 2020
FT Adviser covers the FSCS investigation into German property developers, with as much as £600m of borrowed money from UK investors.
BBC investigation in 2019 estimating the property group borrowed up to £600m from the likes of pension investors.
— Mark Taber (@MarkTaber_FII) August 27, 2020
One Twitter user also does a back-of-the-envelope comparison of Amazon’s market cap.
Apple has the same market cap as all companies in the Russell 2000 Index combined.
Also by my calculation…
Apple has more earnings than all companies (that have earnings) in the Russell 2000 Index combined.
— Jake (@EconomPic) August 27, 2020
Bloomberg reports on the growing global strength of the Euro compared to the US Dollar.
— Bloomberg Markets (@markets) August 28, 2020
And Finally, Brits spending on online slots and casinos rose 24%. Together with Ireland, the UK’s spending on online gambling rose by £219m.
What are your thoughts on these tweets?
Tweet your responses to @peter_IFAMAG