The Sunday Times tells that plans to oust Neil Woodford and dissolve his fund may have been considered only a month after investors were banned from taking out their money — a move that ultimately cost them £1 billion.
The Woodford Equity Income fund — once Britain’s most tipped investment — suspended withdrawals in June 2019, locking in £3.7 billion of investor funds.
The phrase “I’ll Monzo you” has become popular among groups of younger people splitting a bill using the app-based bank. But the trendy start-up known for its spending alerts and coral debit card has admitted that it is struggling to survive.
The paper also reports that bank customers are struggling to get to branches as lenders have reduced their opening hours or shut altogether during the coronavirus pandemic, with hundreds due never to reopen. In one community, nearly 30,000 people have been left with one bank branch operating for just three days a week.
The Sunday Telegraph is understandably indignant that investors have been ripped off to the tune of hundreds of millions of pounds by fund managers who knowingly left their savings languishing in overpriced contracts for as long as seven years.
Intriguingly, they suggest that the healthcare sector is still good value – if you ignore companies working on Covid-19 solutions.
They also reckon Bitcoin could see a fivefold increase in value by 2023, with the digital currency overcoming its “credibility hump” as professional investors with trillions to spend prepare to pile in.
The Mail on Sunday asks “Can you REALLY get thousands to double-glaze your home in Rishi’s green giveaway?”
I’ll leave you find out the answer…
More positively, they talk about how in the past six months, while half of the FTSE 100 index of Britain’s biggest listed companies have cut their dividends on a whim, there are still plenty of high-yielding stocks in the FTSE 100.
Importantly, the paper warns that the jobless total is heading for 3m in the worst slump since the 1980s – and that’s before the furlough scheme is wound down.
Now here really is a thought – “More murders are committed at ninety-two degrees Fahrenheit than any other temperature. Over one hundred — it’s too hot to move. Under ninety, cool enough to survive. But right at ninety-two degrees lies the apex of irritability, everything is itches and hair and sweat and cooked pork. The brain becomes a rat rushing around a red-hot maze. The least thing — a word, a look, a sound, the drop of a hair and — irritable murder. Irritable murder, there’s a pretty and terrifying phrase for you.” (Ray Bradbury)
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But best of all, try not to kill anyone; at least, not if you’re not wearing a mask.