Following the high drama in Downing Street over the weekend, you could be forgiven for skipping the money sections of the Sunday papers – so here’s a quick summary of what was covered.
The Sunday Telegraph reports widespread problems with firms having their bank accounts shut down temporarily after applying for Bounce Back Loans. Natwest appears to be generating the most vocal response on social media.
Liz Rowlinson asks why the home of Alan Partridge, Norwich, has become such a property hotspot. Buyer demand in July was 56% higher than last year, largely down to ‘out of county’ buyers looking for large properties with gardens.
This is Money reveals Sir Philip Green’s Arcadia is seeking a £30 million cash injection to help it survive lockdown. Rumours of administration for Arcadia are mentioned though a spokesman denies it was happening immediately.
The first new nuclear powers station to be built in the UK in 25 years is under construction in Somerset, while the government is apparently close to giving the green light for another site in Suffolk. Ruth Sunderland says the approach may be expensive, but surely ‘preferable to relying on Chinese and French conventional facilities.’
The Sunday Times prepares for a Biden bounce for green energy. Ian Cowie details his exposure to UK green energy, making gains on Ecofin Global Utilities and Infrastructure, and ITM Power. Looking forward, Cowie suggests US Solar might attract more attention soon.
Elsewhere the Times outlines the low-cost way to cash in on global recovery, promoting passive funds from Hargreaves Lansdown, AJ Bell, and Interactive Investor.
Continuing the theme, Mark Atherton tells you everything you need to know about the £161 million unit trust SVM UK. The fund returned 8.2% over one year, with its two largest individual holdings in Ocado Group and JD Sports.
The Financial Times reported the FCA pressed for details of pension transfer probe after the watchdog opened less than 70 mis-selling inquiries since 2018. Around 170,000 transfers took place between April 2015 and September 2018 – the FCA’s own analysis suggested less than half of the transfers reviewed had been suitable for clients, making the low number of inquirers in recent years all the more concerning.
