@peter_IFAMAG reads Twitter so you don’t have to.
In what’s seen as the fallout from Bounce Back Loans, Metro Bank suspends new business accounts. Meanwhile ASOS see a stunning rise in profits, the company is now three times the size of Marks and Spencers. Will Robbins comments on Nigel Farage’s new investment product, ‘Freedom & Fortune.’
Firstly, The Guardian reports that the ‘air of crisis’ around Rolls-Royce seems to have dissipated.
Air of crisis around Rolls-Royce appears to be fading https://t.co/2YfxkkOA5b
— Guardian Money (@guardianmoney) October 13, 2020
Will Robbins comments on ‘Freedom & Fortune’ Nigel Farage’s new investment product.
Nice disclaimer by Fortune & Freedom. BUT. I notice Farage's video targets 'legalistic' language in the letters people get from their financial adviser 'tied up with terms to meet compliance'. Failure to communicate delivers customers into the hands of things like this. pic.twitter.com/LkCLvfJdSr
— Will Robins (@Will_Robins) October 14, 2020
Italian debt yields are at a historic low.
— Mohamed A. El-Erian (@elerianm) October 13, 2020
Neal Hudson shares the FCA’s fascinating breakdown of the UK housing market.
Just spotted this fascinating paper from @TheFCA
There's lots of interesting analysis from @PhilippeBracke & colleagues on what's happened to the mortgage market this year compared to previous periodshttps://t.co/ZaK9njyGr1 (PDF). pic.twitter.com/2bI3dQrlgC
— Neal Hudson (@resi_analyst) October 14, 2020
One time world’s richest man pursued through UK courts by Chinese banks.
Once one of the world’s richest men, Anil Ambani is being pursued through UK courts by a trio of Chinese banks. It could prove a test case for Indian magnates https://t.co/cYeE8IqO2r
— Financial Times (@FinancialTimes) October 14, 2020
Ashley Armstrong breaks down ASOS stunning rise in profits.
Asos profits have quadrupled to £142m after the lockdown winner attracted 3.1 million more young customer this year as online shopping accelerated while stores were shut. Asos now valued at £5.3 billion – three times as much as M&S pic.twitter.com/llwoqROmjv
— Ashley Armstrong (@AArmstrong_says) October 14, 2020
And finally, Metro Bank follows larger highstreet bank trend and suspends business accounts.
Metro Bank suspends new business accounts, making it almost impossible to get new account from mainstream bank. Unintended consequence of Bounce Back loans and only way banks have of limiting fraud. With @Benjaminwmartinhttps://t.co/3dX8exonxw
— Katherine Griffiths (@GriffithsKath_) October 14, 2020
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