@peter_IFAMAG reads Twitter so you don’t have to.
Swedish bank and delay payment facilitator Klarna will start reporting missed and failed payments to credit reference agencies. Klarna’s USP at launch was that missed payments would not affect customers’ credit ratings. Elsewhere Goldman Sachs calls 2020 ‘the year of the SPAC’, or special purpose acquisition company.
First, Jason Bisnoff covers the growth in ESG investing for Forbes magazine. The detailed story expresses optimism in the sector following the election of President Joe Biden.
“ESG investing strategies increased 42 percent over the past two years, to $17 trillion in 2020 up from $12 trillion at the start of 2018. The figure represents 33% of all US AUMs“
Why Socially Responsible Investing Is Likely To Gain Momentum Under Biden https://t.co/YrydsXqyYG
— Harry W (@Hold_my_cider) December 15, 2020
Tony Wilson writes a detailed thread on today’s ONS employment figures, highlighting recovery during October.
So record redundancies will take headlines from today's jobs figs. Now well above last crisis (yellow line). This is all still fallout from summer redundancy notices (blue) and will start falling back.
On other indicators, today's figs show signs of recovery thru Oct. Thread… pic.twitter.com/S67DJVFS2c
— Tony Wilson (@tonywilsonIES) December 15, 2020
Robert Smith shares his article covering the knock-on effect high street insolvencies are having on private credit funds, or direct lenders.
ICYMI last week: @nikasgari and I went picking through the wreckage on the UK high street to see which private credit funds have taken a hit on loans to restaurants and retailers https://t.co/4kIwgyAa1K
— Robert Smith (@BondHack) December 15, 2020
Shaftesbury, Central London’s largest landlord, wrote down the value of its portfolio by 18.3%, after vacancies nearly tripled up to the end of September. This leads Shaftesbury to an annual loss of £699.5m.
London property owner Shaftesbury swings to £700m loss amid Covid crisis https://t.co/CbBP0hU0Gh
— Guardian Money (@guardianmoney) December 15, 2020
Throughout 2020 SPACs, or special purpose acquisition companies, have exploded in popularity and capital. Some investors have been wary of the development, read what Alasdair McKinnon Lead Fund Manager of The Scottish Investment Trust had to say on SPACs here.
Goldman Sachs declares 2020 the year of the SPAC.
"SPACs can be a cash substitute when fed funds are at the lower bound." pic.twitter.com/TFamIjsA6s
— Tracy Alloway (@tracyalloway) December 14, 2020
And finally, Charlotte Dukes shares dismay over reports Klarna will start to register failed payments with credit agencies.
Klarna’s literal USP at launch was that missed payments wouldn’t impact consumer credit scores. Such a mess of a business wading into BNPL in the year where many young consumers are MOST vulnerable to falling behind on payments https://t.co/pLe7kB4Oa2
— Charlotte (@charlvtte) December 15, 2020
What are your thoughts on these tweets?
Tweet your responses to @peter_IFAMAG