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This week Nick talks to Chris Gillespie.Chris's career in financial services spans over 40 years. He brings extensive experience from senior leadership roles within consumer finance businesses. Prior to joining H&T, Chris served as Managing Director of the consumer credit division at Provident Financial PLC. Chris maintains a strong interest in matters affecting the wider industry and is a Fellow of the Association of Chartered Certified Accountants. Nick and Chris discuss his extensive career in financial services, beginning at Barclays Bank and spanning several leadership roles including at Provident Financial. He shares insights into the unique hybrid model of H&T, which blends financial services and retail, operating across 285 stores nationwide. Chris highlights the evolving perception and customer base of pawnbroking in the UK, the simplicity and accessibility of its loan model, and its growing role in small business financing. He also discusses H&T's broader services—including foreign exchange, retail of pre-owned jewellery and watches, and cheque cashing—all aimed at increasing store footfall. Emphasising the business's community roots, counter-cyclical nature, and expansion potential, Chris notes the importance of trusted staff and store locations. The company remains focused on UK growth through store expansion and technology investment, with a strong commitment to customer service and transparency. Chris' book choice was:Lord of the Rings by J R R TolkienThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In the latest episode of the What the FinTech? podcast, we're joined by Clare Pearson, Head of Technology Operations & Delivery Management at Fnality, for a deep dive into digital payment trends. Clare and FinTech Futures reporter Cameron Emanuel-Burns explore the outlook for cross-border real-time payments, tokenisation, digital wallets, and the evolving role of cards in a shifting payments landscape. The discussion also delves into Clare's experience at the Payment Systems Regulator (PSR), her views on its integration into the Financial Conduct Authority (FCA), and her reflections on serving as a judge for this year's PayTech Awards. And finally, we find out which fintech buzzword Clare wants to throw into or rescue from our Fintech Jail!
This week Nick talks to Judith MacKenzie. Judith joined Downing in October 2009, bringing with her extensive experience in venture capital and fund management. Prior to this, she was a partner at Acuity Capital, where she managed AIM-listed VCT and IHT investments, as well as a small-cap activist fund. Before Acuity, Judith spent nine years as a senior investment manager at Aberdeen Asset Management Growth Capital, where she co-managed five Aberdeen VCTs, focusing on technology and media investments across both public and private companies. In 2010, she founded Downing Fund Managers, the boutique investment division of Downing LLP. Judith currently serves as Chair of the Quoted Companies Alliance and holds active board roles in both private and public sectors.Nick and Judith discuss her journey into finance, inspired by working in her parents' small businesses in the Scottish Highlands. Her early exposure to economics and investing sparked a lifelong interest in smaller companies. She discusses her career progression from stockbroking to fund management, emphasising her focus on UK micro-cap and smaller companies through Downing's IHT (Inheritance Tax) service. Judith explains the appeal of AIM-listed firms due to their tax benefits and potential for strong returns, highlighting a hands-on, diligent investment approach that mirrors private equity standards. She identifies three key types of companies she targets: value compounders, self-help businesses, and balance sheet leaders—mentioning Ramsdens, James Latham, and Flowtech as examples. Judith critiques the negative narrative around AIM, advocating for its role in supporting entrepreneurial growth and job creation. She expresses hope for a shift back to active investing and UK-focused capital deployment, especially in light of current global economic uncertainties and US-centric fund flows. Judith's book choice was:Vassal State: How America Runs Britain by Angus HantonJudith's music choice was:Human by The KillersThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In this the fourth episode of our Innovation in Infrastructure podcast mini-series we are delighted to welcome Hans Kreisel, the CEO of Igneo Swedish portfolio company Nordion Energi. Society is in the midst of a major climate transition where gas and electricity infrastructure will play a key role. There is no shortage of renewable energy. The challenge is to make it available – where it is needed, when it is needed and at a competitive price. To manage the transition, the energy systems for electricity, gas and heat need to be linked together. Nordion Energi believes that innovation, strategic partnerships and taking an active role in societal dialogue can contribute to this change. This episode explores a number of strategic projects the Company is working on across biogas, hydrogen and CCS.********************** Important information This material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation. We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change. To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors. About First Sentier Investors References to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group. We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1] Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. 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This week Nick talks to Parmy Olson. Parmy Olson is a prominent technology journalist and author, currently a columnist for Bloomberg Opinion. She previously covered tech and innovation for The Wall Street Journal and Forbes, with a focus on AI, robotics, and emerging technologies. In 2012, she published We Are Anonymous, an acclaimed deep dive into the hacker groups Anonymous and LulzSec. Her 2024 book, Supremacy: AI, ChatGPT, and the Race That Will Change the World, explores the rivalry between tech giants like OpenAI and DeepMind in the pursuit of artificial general intelligence, earning the Financial Times Business Book of the Year Award. Nick and Parmy discuss the intense race to develop artificial general intelligence (AGI) and the far-reaching implications of that pursuit. Their conversation highlights the contrast between the idealistic visions of DeepMind's Demis Hassabis and OpenAI's Sam Altman—who saw AGI as a force for solving global challenges—and the reality that both ultimately became deeply tied to tech giants like Google and Microsoft to fund their ambitions. Parmy explains how this reliance shifted the focus away from social good and towards corporate interests. Together, they explore the broader consequences of this power shift, including the lack of meaningful regulation, ongoing ethical concerns around bias and safety in AI models, and the growing dominance of a few large tech firms. They also reflect on the social risks—from job losses and the disruption of traditional career paths to the emotional dependency people are beginning to form with chatbots—raising important questions about the kind of future society is heading towards. Parmy's Book Choice was: Born to Run by Christopher McdougallParmy's Music Choice was:Rumours by Fleetwood MacThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
I was trying to Buy my house in the UK and I came across a lot of issues that make it very hard. I made a full podcast episode but you can see the overview here. Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
This week Nick talks to Duncan GarroodDuncan Garrood is CEO of Empiric Student Property, Originally trained as a scientist, he transitioned into the corporate world, spending 20 years at Unilever in various global roles across production, sales, and marketing. He played a key role in expanding business operations, including launching an ice cream division in China. Over the years, he took on leadership roles in hospitality, aviation, and leisure, overseeing transformations at companies like Punch Taverns and Ten Entertainment. His career has been defined by adaptability, embracing opportunities across different industries, and executing successful turnaround strategies and large-scale expansions. Nick and Duncan discuss strategic growth, transformation, and market positioning, particularly in the student property sector with Empiric Student Property. Duncan emphasised the importance of aligning business strategy with market demand, particularly in catering to international and postgraduate students seeking a premium, boutique accommodation experience. They explored the challenges of acquiring and optimizing property portfolios, adapting to economic shifts, and navigating investment landscapes. Duncan also highlighted the role of data-driven decision-making, customer-centric business models, and maintaining a strong brand identity, drawing parallels between his past experiences in multinational corporations and property investment. Duncan's Book Choice was:I, Robot - Isaac Asimovhttps://onlineshop.oxfam.org.uk/i-robot/product/HD_302753825?sku=HD_302753825Duncan's Music Choice was:Pink Floyd - Shine On You Crazy Diamondhttps://open.spotify.com/track/6pnwfWyaWjQiHCKTiZLItrThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In a major win for workplace free speech, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have abandoned plans to impose new diversity and inclusion rules on financial firms after strong pushback, including from the FSU. Had the proposals gone ahead, they would have placed sweeping new obligations on a significant portion of the UK's financial sector. In January 2024, we responded to two parallel consultations (here and here), warning that the proposals would create a climate where employees felt unable to challenge radical progressive orthodoxies on a cluster of issues without fear of professional consequences. Our response to the FCA consultation was submitted via its online portal, but you can read our letter to the PRA here. We move on to discuss the case of Ben Woods, a member of the Free Speech Union (FSU), who has worked at Waitrose's Henley branch in Oxfordshire for 25 years, having joined the supermarket as a teenager. However, after accusing its long-serving employee of misconduct over a dossier of more than 30 social media posts, the company has now swiftly suspended him. The case was reported in both The Telegraph and The Mail and you can support Ben's s fundraiser page here. Thames Valley Police have admitted acting unlawfully in arresting an adult-education teacher at a local proclamation of the accession of King Charles in September 2022. Symon Hill, 47, was going home from church in Oxford on the Sunday morning three days after the death of Queen Elizabeth II when he found his way blocked by the ceremony. Following the public declaration of Charles as king, he called out from the back of the crowd: “Who elected him?” He then pursued legal action for wrongful arrest and has finally won his case, together with £2,500 in compensation. Now a trainee Baptist minister, Mr Hill (somewhat understatedly) said that he'd been “surprised” by the entire affair and by the two-and-a-half years it had taken the police to admit their mistake. We end the episode with a discussion on a report in The Telegraph that Donald Trump issued a sweeping executive order last Friday gutting the US Agency for Global Media (USAGM) – Voice of America's parent agency – and several other government departments. ‘That's Debatable!' is edited by Jason Clift.
First hand experience based on my sale. Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
In this episode, our special guest is Miles Bake, the former Head of Enforcement at the Bank of England and the Director of Governance at the FCA. In a fascinating discussion, he offers a glimpse into the inner workings of the UK’s financial services regulators. Special guest Miles Bake shares his take on what makes financial services regulators tick. This is something he’s uniquely placed to do, having worked extensively in leadership roles at the Prudential Regulatory Authority (PRA) and at the Financial Conduct Authority (FCA). In this episode, host Nathan Willmott and his Ashurst colleague Adam Jamieson ask Miles the burning questions that financial services firms often ask, including: Why have the financial services regulators increasingly leaned harder into enforcement in recent years? How do regulators determine which firms do and don’t get referred for investigations? In the absence of targets or metrics, how do regulators decide the appropriate level of enforcement? Since the Parliamentary Commission on Banking Standards, how successful has the senior managers regime been? How aligned or divergent are the FCA and PRA’s enforcement policies and actions? During investigations, how do regulators balance the need for transparency with firms’ reputational risks? When enforcement heads consider policy decisions, how do they determine when government consultation is required? Considering the FCA’s aim to promote competitiveness, how might enforcement policy be shaped by the government’s growth agenda? To hear Miles tackle these questions (and to subscribe to future episodes in our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.See omnystudio.com/listener for privacy information.
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
Jes Staley, former CEO of Barclays, is contesting a £1.8 million fine and a lifetime ban imposed by the UK's Financial Conduct Authority (FCA) over allegations that he misled regulators about his relationship with convicted sex offender Jeffrey Epstein. The FCA asserts that Staley "recklessly misled" both the regulator and the Barclays board regarding the nature and extent of his association with Epstein, leading to his resignation from Barclays in 2021.In his defense, Staley contends that Barclays was fully aware of his longstanding professional relationship with Epstein, emphasizing that their interactions were primarily business-related. He argues that the FCA's decision was reached unfairly, without providing him or Barclays an adequate opportunity to respond. The ongoing tribunal will scrutinize over 1,200 emails exchanged between Staley and Epstein, with testimonies expected from prominent figures, including Bank of England Governor Andrew Bailey and Barclays Chairman Nigel Higginsto contact me:bobbycapucci@protonmail.comsource:Ex-Barclays boss Jes Staley says bank knew about his ties to paedophile Jeffrey Epstein - as he appeals a £1.8m fine and ban by the City watchdog | Daily Mail OnlineTo help support the podcast:https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support
“Analysis Paralysis: Did I Sell or Rent My House?”Ever find yourself stuck in a sea of research, overthinking every option? That's exactly where I was when faced with the ultimate decision—should I sell my house or rent it out? In this podcast, I take you through the rollercoaster journey of exploring both sides, weighing the pros and cons, and tackling the analysis paralysis that almost kept me from making a choice. Tune in for real talk on the emotional and financial factors that shaped my decision, along with tips and insights for anyone caught in the same dilemma. Does that feel like a good fit for your podcast tone? Or would you like it more casual or focused on a specific aspect? Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
This week Nick talks to George EnsorGeorge Ensor is the portfolio manager for the RGI UK Listed Smaller Companies Fund and the River UK Micro Cap Investment Trust. He joined River Global Investors in 2014 as a UK equity analyst, following his role as a private client investment manager at Smith & Williamson Investment Management. George holds a degree in Chemistry from the University of Bristol and is a CFA Charterholder. Nick and George discuss, his journey into investment management, starting with his chemistry degree and eventual move into equities, driven by the challenge of taking contrarian views in the market. He outlines his experience at Smith & Williamson, where he gained exposure to global multi-asset management, client service, and investment allocation. Transitioning to River Global (formerly River & Mercantile), he details the firm's evolution, including its listing and eventual return to a boutique-style setup. He explains the structural differences between open-ended small-cap funds and closed-ended micro-cap investment trusts, emphasising how micro-cap funds exploit liquidity premiums and offer high-conviction investments.George also discusses the challenges and opportunities within UK small-cap investing, noting cyclical market trends, liquidity constraints, and shifts in investor sentiment. He highlights how UK small caps have been underperforming large caps due to external factors like interest rates, economic cycles, and regulatory changes. He believes in the long-term growth potential of UK small caps, citing past market recoveries and potential reforms such as pension fund adjustments and British ISAs. The conversation further delves into investment strategies, including the balance between growth, quality, and recovery stocks, and explores specific holdings like Keystone Law, DF Capital, and Renold. He expresses concerns about undervaluation in the market, private equity takeovers, and the impact of passive investing on small-cap liquidity. Despite current challenges, he remains optimistic about the cyclical return of capital inflows into UK equities and the opportunities available for disciplined investors.George's book choices where: Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts - Annie Duke https://www.amazon.co.uk/Thinking-Bets-Annie-Duke/dp/0735216371/Quit: The Power of Knowing When to Walk Away - Annie Duke https://uk.bookshop.org/p/books/quit-the-power-of-knowing-when-to-walk-away-annie-duke/7098911George's music choice was: The Best by Tina Turnerhttps://open.spotify.com/track/4OeFQtRyT7vsLnRTv7t8YTThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophileBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Jes Staley, the former CEO of Barclays, is currently challenging a ban imposed by the UK's Financial Conduct Authority (FCA) that prohibits him from holding senior positions in the financial sector. The FCA alleges that Staley misled regulators about the nature and extent of his relationship with the late financier and convicted sex offender Jeffrey Epstein. Central to the FCA's case is a 2019 letter from Barclays to the FCA, which stated that Staley did not have a close relationship with Epstein and that their last contact occurred well before Staley joined Barclays in 2015. However, evidence presented by the FCA, including approximately 1,200 emails exchanged between Staley and Epstein from 2008 to 2012, suggests a closer relationship. In these emails, Staley referred to Epstein as "family" and "one of our deepest friends," contradicting the claims made in the 2019 letter.Staley's defense argues that Barclays was fully aware of his longstanding professional relationship with Epstein, asserting that the bank's board had been briefed on the matter. They contend that the 2019 letter to the FCA was intended solely to confirm that neither Staley nor Barclays had any knowledge of or involvement in Epstein's unlawful conduct, rather than to define the closeness of their relationship. The hearing, which commenced on March 3, 2025, at the Upper Tribunal in London, is expected to last two weeks. It will feature testimonies from prominent figures in the financial sector, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins. The outcome of this case could have significant implications for Staley's career and the broader financial industry, as it brings to light the responsibilities of senior executives in disclosing associations with controversial figures.to contact me:bobbycapucci@protonmail.comsource:Jeffrey Epstein: This ex-CEO is risking all to clear his name over the paedophile
In this episode, brought to you by Wesleyan Financial Services, Marie Williams-Cooke talks to Regional Manager Simon Cosgrove about how dentists keep hold of their hard-earned income in a tax efficient way. You can find out more about Wesleyan at www.wesleyan.co.uk and listen and subscribe to The Wesleyan Podcast at: Apple Spotify Amazon / Audible Podbean This podcast is for information only and doesn't constitute financial advice. Tax treatment depends on individual circumstances and may be subject to change in future. Inheritance Tax planning is not regulated by the Financial Conduct Authority (FCA). Bear in mind that the value of investments can go down as well as up and you may get back less than you invest. Wesleyan Financial Services is a broker and insurance products are provided by a number of selected insurers. Wesleyan Financial Services Ltd (Registered in England and Wales No. 1651212) is authorised and regulated by the Financial Conduct Authority. Registered Office: Colmore Circus, Birmingham B4 6AR. Telephone: 0345 351 2352. Calls may be recorded to help us provide, monitor and improve our services to you. Charges may apply. Learn more about our charges at wesleyan.co.uk/charges.
In this bonus episode Nick talks to Jeff Chatfield. Jeff serves as the Executive Chairman of Avation PLC and played a pivotal role in its founding and development. Throughout his career, he has held management and directorial positions in various companies across sectors such as the airline industry, data distribution, electronics, investment, broadcasting, and manufacturing. He holds both a Bachelor of Engineering and a Master of Engineering Science from the University of Western Australia. Additionally, he is a graduate member of the Australian Institute of Company Directors and a Fellow of the Singapore Institute of Directors. Nick and Jeff discus the company's recent half-year results and market position. Jeff highlights Avation's strong financial performance, including increased revenue and reduced net debt. He also discusses the company's aircraft leasing portfolio, noting a recent acquisition of an Etihad-operated Airbus A320. Despite these positive results, Avation's share price remains undervalued at 50% of net asset value (NAV), which Jeff attributes to investor unfamiliarity with the aircraft leasing sector and the company's London Stock Exchange listing. He suggests that moving to a higher-tier market segment could help attract more investors.The conversation also touches on Avation's debt structure and potential refinancing opportunities. Jeff explains that a $330 million bond maturing in 2026 could be refinanced as early as 2025, potentially lowering interest costs and improving cash flow. He emphasizes the importance of dividends to investors and notes strong shareholder support for past dividend payouts. Looking ahead, Avation aims to continue growing its fleet and improving shareholder value, with strategies such as increasing investor engagement and possibly integrating with a larger leasing business for better financing terms. Jeff's Book choice was:The Proof of My Innocence by Jonathan Coehttps://www.waterstones.com/book/9780241678411This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In a bid to root out harm before it occurs, the Financial Conduct Authority (FCA) is stepping up its use of intervention tools as an alternative to formal investigations. In this episode, we explain some quite draconian FCA powers – ‘voluntary requirements’ (VREQs) and ‘own initiative requirements’ (OIREQs) – and how these are impacting financial services firms. To tackle this thorny subject, we’ve gathered a crack team of specialists in financial services regulation. Host Nathan Willmott is joined by his Ashurst colleague Adam Jamieson and special guest Oliver Assersohn KC of XXIV Old Buildings. Together, they unpack how these intervention powers allow the FCA to impose restrictions on firms without formal investigations, often pressuring them into compliance within tight deadlines. The trio explain the legal thresholds for these requirements, the increasing willingness of the FCA to test these boundaries, and how firms are responding. As well as outlining the practicalities of negotiating with the FCA, our expert panel flags the risks for firms during interventions and the potential for challenging the requirements in the Upper Tribunal. To hear this (and to subscribe to future episodes in season two of our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.See omnystudio.com/listener for privacy information.
Should I sell or rent my house Resources: Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
If you missed last week's special report, I urge you to take a look. Some of these are already starting to move, and fast .And so to today's piece. Tesla .I am just back from a two-week trip to the States, and what a time I had.I felt so privileged to be there at what feels like the dawn of a new golden age for this most amazing of countries.The first week I spent in Palm Springs, California, visiting my mum, and the second in Naples, Florida. Quite the contrast. One was Meltdown Central, the other was in a state of jubilation. Everyone everywhere was talking about the USAID revelations.I did not know Naples. What a stunning place. Hot, sunny, green, humid, beautiful (the architecture is lovely, even the newbuilds—that's traditional measures for you), polite, safe, cultured, healthy, delicious food. Life seems to slow down as soon you arrive. What's happening elsewhere no longer seems to matter. Were I to go there and settle, I think I would lose all ambition.The problem with settling there, though, is price. It has the most expensive real estate in the US. One house was for sale for $295 million. Even Satoshi Nakamoto would wince at paying that.“I told my kids, when they were growing up,” said Mike, who I was having dinner with, “this is not the real world. Naples is not reality. It's something else. They needed to know that.”I turned to his son—Matty Ice—the man who had brought me to Naples to talk tax, bitcoin, and other such things on the Runway Pod, an entrepreneur and family man in his early 30s. “Well, I'm not leaving. Why would I?”It turns out lots of people come to Naples on a temporary basis, then decide to stay.It's not just Naples real estate that is expensive, by the way. The whole of the US has got super dear. I paid $18 for a pint of beer in Miami airport. I had dinner at a friend's—he paid $60 for three steaks for the barbeque. I thought steak was cheap in the US. In a Palm Springs supermarket, I paid $4.99 for three organic onions. They saw me coming.In general, I would say food is twice the price it is here in the UK. And that's with a strong dollar. The country has got very expensive. Inflation is a big, big issue.My eldest son works in recruitment—in the chemicals industry—and most of the time he is recruiting in the US. He says US workers get paid three times the money for doing the same job as a UK worker - in that industry at least,But, whether it's Naples, neighbouring Fort Myers, or Miami, Florida; or Los Angeles or Palm Springs, California, there is also a lot of money in America. You can see it everywhere. It is several standard deviations of wealth up from the UK. The wealth is visible in the houses—even the middle-class houses—in the cars, in the clothes, in the prices. We in the UK have been left behind. It was not always like this.That wealth gap is only going to get bigger, as the UK continues to pursue high taxes, big regulation, mass migration, and zero growth, while the US goes in the other direction. The place is full of opportunity.Go to the US. Move there if you can, especially if you are young. The US was already something special, but something really special is happening there: the Washington purges are cleaning the place up. You've read the news, you've been on X, you've seen what's going on. You really don't need me to tell you.But watch what you eat. I put on 5 pounds (2 kilos) in just two weeks. Mind you, I couldn't stop eating. The food is yum. (People in the gym kept asking me how I got to be so lean - “by not living in America, and not eating American food” I explained).I don't believe this level of political reform would have happened to anything like the same extent without the involvement of Elon Musk. He really is doing God's work rooting out all that corruption. What emerges will be so much cleaner, more efficient, more honest, and more united.But of all the things I actually witnessed in person, do you know what most blew my mind?I did not expect this.It wasn't $295 million dollar houses. It wasn't all the private aircraft in Naples airport next to where we were recording.It was driving in a Tesla on autopilot. I'd never done it before. I know I am late to this, but OMG.Matty typed our destination into his computer, put the car into self-driving mode. Off it went.The Tesla was a noticeably better driver than I am. It positioned itself on the road well, staying in the middle of the lane at all times. It cornered beautifully. It maintained the exact right distance to the car ahead. It knew the speed limits of all the roads we drove on. It knew when the lights were changing and set off straight away. It has a 360-degree awareness—a human can only look in one direction—and knew exactly what other cars nearby were doing. It didn't get impatient and start doing silly things like jumping lights.With machine learning, each Tesla is feeding info back to HQ, so that every car is learning from the others' experiences. Teslas know the roads - every inch of them - better than you, even the local roads. They are learning how to deal with every conceivable traffic incident. This data-driven driving constantly updates.I am a backseat driver. I often push my foot down on the imaginary brake. As I was getting over my control issues, I did this at a red light in the distance. Turns out it was miles away. The Tesla braked at exactly the right time.It got us to our destination and then reversed and parked with precision into a tight spot. I'm a good parker. The Tesla was better. Of course it was. It has 360-degree vision, and my neck is getting stiff.The driving conditions were good. But how much better would it be in rain, fog or ice, I wondered.Tesla, Matty pointed out, is as much a software company—a platform like Airbnb, Facebook or TripAdvisor—as it is a car company.The next day, I had an Uber drive me from Naples to Miami airport.The Uber driver was good, but sometimes he was doing things on his phone—changing the podcast he was listening to, updating the map. “Look at the road,” I found myself thinking. Sometimes overt the 2-hour journey he strayed from the centre of the lane. One time he braked sharply. No such imperfection in the Tesla.Transport as we know it is about to changeThe main barriers to Tesla's self-driving progress are regulatory, but a certain Elon Musk is now in a position of influence. One of the reasons he is doing what he is doing is to clear out the regulators and bureaucrats who were so biased against him and blocked his progress—whom he came to despise.I think the regulatory barriers to self-driving vehicles start to come down quickly. Self-driving vehicles will soon be a feature on US roads. Then what happens?“I will have my car drop me at the office,” said Matty, “instruct it to pick me up at five, and then in the meantime I'll put it to work”. In other words, his car will not be idly parked all day. It will spend the day ferrying other people about. It will earn him money.Other Tesla owners will do the same. Suddenly owning a Tesla will become potentially profitable. A car will not be quite such a depreciating asset. No doubt some will buy fleets of them. Like any platform, Tesla itself is going to take a cut of the profit.Just to get the self-driving capability added to the software of the vehicle, you must pay another ten grand. Then comes the rent.Leaving your car parked 95% of the time, as most of us do—my car in London can stay parked for weeks at a time—is so inefficient. Not for much longer. At least, in the US. It'll be years before we allow it here in the UK or Europe. Of course, it will.What happens to American roads in the meantime? Fewer people are going to own cars, especially in cities. They won't need to. They can just call a Tesla. What happens to the rest of the auto industry? Fewer car sales. The cost of taxis though comes down. Drivers lose their jobs to robots. I guess something similar happens to the trucking industry too.The roads themselves are used more efficiently, as robots drive demonstrably better, leading to better traffic flow and less congestion.Public transport will see fewer users. Why use such a smelly system when you can travel privately in a Tesla? Self-driving cars were a pipe dream. That is about to change. American roads are about to change.There are other self-driving operators - Waymo, Cruise, or Mobileye - which are already fully operational in limited areas (ie driverless). They have partnered with the likes of Jaguar, Mercedes, Volvo and Hyundai, but they do not have Tesla's end-to-end autonomy. Nor do they have Tesla's immense network effect.The network effect is an incredibly powerful force in the evolution of a business. It's often more important that the tech itself (why, for example, VHS beat Betamax or CDs obliterated minidisk). It's why I advocate bitcoin ahead of other sh*tcoins. Tesla's dominance of roads could be on a par with Apple's dominance of the smartphone market. It is ahead of the pack.So should we all be buying stock in Tesla Inc (NASDAQ:TSLA)?Let's take a financial overview.Phew! It's an expensive company. A lot of what I've already described must already be priced in.With a market cap now over $1 trillion, it is among the world's most valuable companies.Annual revenue in 2024 was $98 billion, with minimal growth on the previous year. The pro-electric narrative of a few years ago has dissipated over the last couple of years.EBITDA for the twelve months ending in December 2024 was $15 billion. The EV-to-EBITDA, which compares the company's enterprise value to its EBITDA, stands at around 72, indicating a “premium valuation” relative to its operational earnings.Its trailing P/E ratio is high, high, high at 177, as is its forward P/E of 124. A lot of earnings growth is expected. This could reflect anticipation of Tesla's expansion into new markets, battery technology, and/or the self-driving revolution I have described, but it also points to a richly priced stock, for which investors are paying a substantial premium. The Price/Earnings to Growth (PEG) ratio, at 8.5, also implies Tesla is overvalued.Any setback—some kind of bad accident, a large insurance claim, a rival technology becoming suddenly competitive—and this stock can take a big hit.Turning to the company's financial health and profitability, Tesla's Return on Equity (ROE) is 10.4%—I've seen worse—and its Return on Invested Capital (ROIC) is 6%, which denotes an efficient use of capital, something Musk is known for.Tesla maintains a relatively low Debt/Equity ratio of 0.18, suggesting a conservative approach to leverage, which should reduce volatility. The current ratio of 2.02 indicates good short-term liquidity, allowing Tesla to meet its short-term liabilities comfortably.But it is a volatile stock—so perhaps one to buy on weakness. The 52-week high is $488, the low $139. You can more than double your money if you buy this well. Currently at $350 we are in the middle of the range—well up from the lows, but also well off the highs—and in a downtrend.Analysts, meanwhile, are divided. Predictions range from $115.00 to $550.00. reflecting a wide range of expectations.Tesla is unique. It has the potential to transform transport as we currently know it. It could have enormous first-mover advantage and a near monopoly on roads, as more and more people “put their car to work,” and what is currently an expense becomes a secondary source of income. It is the market leader, it is the technological leader, it could enjoy something of a monopoly on roads as it drives ahead of its competitors.To maintain and grow this valuation, it needs to stay ahead of rivals, it needs to overcome the regulatory barriers it faces, and it needs to manage the many inherent risks of the automotive and tech industries.But one thing Elon Musk has is vision. He will have seen all of this and be working towards it.I can quite easily envisage a scenario where Tesla's dominance of roads is near monopolistic—like Apple's dominance of phones or something.In such a scenario, its valuation will be a lot higher.It'll make money on the car, on the software, then on the rental.It will also be the most common car on the roads. Transport is about to change.Disclaimer:I am not regulated by the Financial Conduct Authority (FCA) or any other regulatory body as a financial advisor. Therefore, any information provided in this newsletter does not constitute regulated financial advice. It is solely an expression of opinion. Stocks are inherently risky. Please conduct your own due diligence and consult with a financial advisor if you have any doubts. Remember, markets can both rise and fall. I am not aware of your individual financial circumstances, so only invest money that you can afford to lose. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe
Valuation: Get a professional valuation to determine a competitive asking price. Consider local property prices and market trends. Estate Agents: Decide whether to use an estate agent or sell privately. Research agents' fees, reputation, and the services they offer. Home Improvements: Consider making minor repairs or improvements to enhance appeal. Fresh paint or tidy gardens can make a big difference. Energy Performance Certificate (EPC): Obtain an EPC, which is required before you can market your home. It assesses the energy efficiency of your property. Legal Considerations: Hire a solicitor or conveyancer to handle the legal aspects of the sale, including the sale contract and transfers of ownership. Property Information Form: Complete the property information form accurately, providing details about the property, boundaries, and any issues. Viewings: Prepare for viewings by decluttering and cleaning. Consider timing and how to present your home. Negotiation: Be ready to negotiate with potential buyers. Understand your bottom line and be flexible where possible. Offers and Acceptance: Once you receive offers, assess them carefully. Remember, the highest offer isn't always the best if the buyer isn't financially secure. Chain Considerations: Be aware of any property chain involved. Delays can occur if you're dependent on someone else's sale. Tax Implications: Understand any potential capital gains tax liabilities, especially if the property isn't your primary residence. Moving Logistics: Plan your moving logistics in advance, including timelines and hiring removal services. Final Checks: Before completion, ensure all documentation is in order and that any agreed-upon repairs or conditions are met. Market Timing: Consider the best time to sell based on market conditions and seasonal trends. Personal Circumstances: Reflect on your personal situation and timing. Selling can be emotional and stressful, so ensure you're ready for the process. Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
If you missed last week's special report, I urge you to take a look. Some of these are already starting to move, and fast .And so to today's piece. Tesla .I am just back from a two-week trip to the States, and what a time I had.I felt so privileged to be there at what feels like the dawn of a new golden age for this most amazing of countries.The first week I spent in Palm Springs, California, visiting my mum, and the second in Naples, Florida. Quite the contrast. One was Meltdown Central, the other was in a state of jubilation. Everyone everywhere was talking about the USAID revelations.I did not know Naples. What a stunning place. Hot, sunny, green, humid, beautiful (the architecture is lovely, even the newbuilds—that's traditional measures for you), polite, safe, cultured, healthy, delicious food. Life seems to slow down as soon you arrive. What's happening elsewhere no longer seems to matter. Were I to go there and settle, I think I would lose all ambition.The problem with settling there, though, is price. It has the most expensive real estate in the US. One house was for sale for $295 million. Even Satoshi Nakamoto would wince at paying that.“I told my kids, when they were growing up,” said Mike, who I was having dinner with, “this is not the real world. Naples is not reality. It's something else. They needed to know that.”I turned to his son—Matty Ice—the man who had brought me to Naples to talk tax, bitcoin, and other such things on the Runway Pod, an entrepreneur and family man in his early 30s. “Well, I'm not leaving. Why would I?”It turns out lots of people come to Naples on a temporary basis, then decide to stay.It's not just Naples real estate that is expensive, by the way. The whole of the US has got super dear. I paid $18 for a pint of beer in Miami airport. I had dinner at a friend's—he paid $60 for three steaks for the barbeque. I thought steak was cheap in the US. In a Palm Springs supermarket, I paid $4.99 for three organic onions. They saw me coming.In general, I would say food is twice the price it is here in the UK. And that's with a strong dollar. The country has got very expensive. Inflation is a big, big issue.My eldest son works in recruitment—in the chemicals industry—and most of the time he is recruiting in the US. He says US workers get paid three times the money for doing the same job as a UK worker - in that industry at least,But, whether it's Naples, neighbouring Fort Myers, or Miami, Florida; or Los Angeles or Palm Springs, California, there is also a lot of money in America. You can see it everywhere. It is several standard deviations of wealth up from the UK. The wealth is visible in the houses—even the middle-class houses—in the cars, in the clothes, in the prices. We in the UK have been left behind. It was not always like this.That wealth gap is only going to get bigger, as the UK continues to pursue high taxes, big regulation, mass migration, and zero growth, while the US goes in the other direction. The place is full of opportunity.Go to the US. Move there if you can, especially if you are young. The US was already something special, but something really special is happening there: the Washington purges are cleaning the place up. You've read the news, you've been on X, you've seen what's going on. You really don't need me to tell you.But watch what you eat. I put on 5 pounds (2 kilos) in just two weeks. Mind you, I couldn't stop eating. The food is yum. (People in the gym kept asking me how I got to be so lean - “by not living in America, and not eating American food” I explained).I don't believe this level of political reform would have happened to anything like the same extent without the involvement of Elon Musk. He really is doing God's work rooting out all that corruption. What emerges will be so much cleaner, more efficient, more honest, and more united.But of all the things I actually witnessed in person, do you know what most blew my mind?I did not expect this.It wasn't $295 million dollar houses. It wasn't all the private aircraft in Naples airport next to where we were recording.It was driving in a Tesla on autopilot. I'd never done it before. I know I am late to this, but OMG.Matty typed our destination into his computer, put the car into self-driving mode. Off it went.The Tesla was a noticeably better driver than I am. It positioned itself on the road well, staying in the middle of the lane at all times. It cornered beautifully. It maintained the exact right distance to the car ahead. It knew the speed limits of all the roads we drove on. It knew when the lights were changing and set off straight away. It has a 360-degree awareness—a human can only look in one direction—and knew exactly what other cars nearby were doing. It didn't get impatient and start doing silly things like jumping lights.With machine learning, each Tesla is feeding info back to HQ, so that every car is learning from the others' experiences. Teslas know the roads - every inch of them - better than you, even the local roads. They are learning how to deal with every conceivable traffic incident. This data-driven driving constantly updates.I am a backseat driver. I often push my foot down on the imaginary brake. As I was getting over my control issues, I did this at a red light in the distance. Turns out it was miles away. The Tesla braked at exactly the right time.It got us to our destination and then reversed and parked with precision into a tight spot. I'm a good parker. The Tesla was better. Of course it was. It has 360-degree vision, and my neck is getting stiff.The driving conditions were good. But how much better would it be in rain, fog or ice, I wondered.Tesla, Matty pointed out, is as much a software company—a platform like Airbnb, Facebook or TripAdvisor—as it is a car company.The next day, I had an Uber drive me from Naples to Miami airport.The Uber driver was good, but sometimes he was doing things on his phone—changing the podcast he was listening to, updating the map. “Look at the road,” I found myself thinking. Sometimes overt the 2-hour journey he strayed from the centre of the lane. One time he braked sharply. No such imperfection in the Tesla.Transport as we know it is about to changeThe main barriers to Tesla's self-driving progress are regulatory, but a certain Elon Musk is now in a position of influence. One of the reasons he is doing what he is doing is to clear out the regulators and bureaucrats who were so biased against him and blocked his progress—whom he came to despise.I think the regulatory barriers to self-driving vehicles start to come down quickly. Self-driving vehicles will soon be a feature on US roads. Then what happens?“I will have my car drop me at the office,” said Matty, “instruct it to pick me up at five, and then in the meantime I'll put it to work”. In other words, his car will not be idly parked all day. It will spend the day ferrying other people about. It will earn him money.Other Tesla owners will do the same. Suddenly owning a Tesla will become potentially profitable. A car will not be quite such a depreciating asset. No doubt some will buy fleets of them. Like any platform, Tesla itself is going to take a cut of the profit.Just to get the self-driving capability added to the software of the vehicle, you must pay another ten grand. Then comes the rent.Leaving your car parked 95% of the time, as most of us do—my car in London can stay parked for weeks at a time—is so inefficient. Not for much longer. At least, in the US. It'll be years before we allow it here in the UK or Europe. Of course, it will.What happens to American roads in the meantime? Fewer people are going to own cars, especially in cities. They won't need to. They can just call a Tesla. What happens to the rest of the auto industry? Fewer car sales. The cost of taxis though comes down. Drivers lose their jobs to robots. I guess something similar happens to the trucking industry too.The roads themselves are used more efficiently, as robots drive demonstrably better, leading to better traffic flow and less congestion.Public transport will see fewer users. Why use such a smelly system when you can travel privately in a Tesla? Self-driving cars were a pipe dream. That is about to change. American roads are about to change.There are other self-driving operators - Waymo, Cruise, or Mobileye - which are already fully operational in limited areas (ie driverless). They have partnered with the likes of Jaguar, Mercedes, Volvo and Hyundai, but they do not have Tesla's end-to-end autonomy. Nor do they have Tesla's immense network effect.The network effect is an incredibly powerful force in the evolution of a business. It's often more important that the tech itself (why, for example, VHS beat Betamax or CDs obliterated minidisk). It's why I advocate bitcoin ahead of other sh*tcoins. Tesla's dominance of roads could be on a par with Apple's dominance of the smartphone market. It is ahead of the pack.So should we all be buying stock in Tesla Inc (NASDAQ:TSLA)?Let's take a financial overview.Phew! It's an expensive company. A lot of what I've already described must already be priced in.With a market cap now over $1 trillion, it is among the world's most valuable companies.Annual revenue in 2024 was $98 billion, with minimal growth on the previous year. The pro-electric narrative of a few years ago has dissipated over the last couple of years.EBITDA for the twelve months ending in December 2024 was $15 billion. The EV-to-EBITDA, which compares the company's enterprise value to its EBITDA, stands at around 72, indicating a “premium valuation” relative to its operational earnings.Its trailing P/E ratio is high, high, high at 177, as is its forward P/E of 124. A lot of earnings growth is expected. This could reflect anticipation of Tesla's expansion into new markets, battery technology, and/or the self-driving revolution I have described, but it also points to a richly priced stock, for which investors are paying a substantial premium. The Price/Earnings to Growth (PEG) ratio, at 8.5, also implies Tesla is overvalued.Any setback—some kind of bad accident, a large insurance claim, a rival technology becoming suddenly competitive—and this stock can take a big hit.Turning to the company's financial health and profitability, Tesla's Return on Equity (ROE) is 10.4%—I've seen worse—and its Return on Invested Capital (ROIC) is 6%, which denotes an efficient use of capital, something Musk is known for.Tesla maintains a relatively low Debt/Equity ratio of 0.18, suggesting a conservative approach to leverage, which should reduce volatility. The current ratio of 2.02 indicates good short-term liquidity, allowing Tesla to meet its short-term liabilities comfortably.But it is a volatile stock—so perhaps one to buy on weakness. The 52-week high is $488, the low $139. You can more than double your money if you buy this well. Currently at $350 we are in the middle of the range—well up from the lows, but also well off the highs—and in a downtrend.Analysts, meanwhile, are divided. Predictions range from $115.00 to $550.00. reflecting a wide range of expectations.Tesla is unique. It has the potential to transform transport as we currently know it. It could have enormous first-mover advantage and a near monopoly on roads, as more and more people “put their car to work,” and what is currently an expense becomes a secondary source of income. It is the market leader, it is the technological leader, it could enjoy something of a monopoly on roads as it drives ahead of its competitors.To maintain and grow this valuation, it needs to stay ahead of rivals, it needs to overcome the regulatory barriers it faces, and it needs to manage the many inherent risks of the automotive and tech industries.But one thing Elon Musk has is vision. He will have seen all of this and be working towards it.I can quite easily envisage a scenario where Tesla's dominance of roads is near monopolistic—like Apple's dominance of phones or something.In such a scenario, its valuation will be a lot higher.It'll make money on the car, on the software, then on the rental.It will also be the most common car on the roads. Transport is about to change.Disclaimer:I am not regulated by the Financial Conduct Authority (FCA) or any other regulatory body as a financial advisor. Therefore, any information provided in this newsletter does not constitute regulated financial advice. It is solely an expression of opinion. Stocks are inherently risky. Please conduct your own due diligence and consult with a financial advisor if you have any doubts. Remember, markets can both rise and fall. I am not aware of your individual financial circumstances, so only invest money that you can afford to lose. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe
Episode 3 of our mini-series which focuses on Innovation in Infrastructure is here! We are delighted that Simon Montague from the GIAA is hosting this series. In this episode Simon is joined by Oscar Mann, Airport Innovation Lead, Technology at Australia's Brisbane Airport. Brisbane Airport was privatised in 1997 and is today owned by a public-private consortium that includes Igneo Infrastructure Partners. Simon and Oscar explore the value-driving innovations being pursued that add to airport safety, efficiency and customer experience in this airport focused episode!**********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This week Nick talks to Andrew JonesAndrew led Metric Property Investments Plc as co-founder and CEO from its launch in March 2010 until its successful merger with London & Stamford in January 2013, when he took the helm as Chief Executive of the newly formed LondonMetric. His extensive real estate experience includes a pivotal role at British Land, where he served as Executive Director and Head of Retail after joining through the Pillar acquisition in 2005. As a Board member at British Land, he oversaw shopping centers and retail park portfolios. Currently, Andrew brings his expertise to InstaVolt, a leading electric vehicle charging network, as a Non-Executive Director. He previously served on the Board of Unite plc for six years as a Non-Executive Director.In this episode, Nick and Andrew explore his career journey and insights into the real estate industry. Andrew shares how his early interest in investing led him to a career in commercial real estate, starting in the late 1980s during a recession. He discusses his experience working with major firms like British Land before founding London Metric Property in 2010. The conversation covers the evolution of retail, from high streets to retail parks, the impact of online shopping, and the importance of understanding consumer behaviour. Andrew also explains LondonMetric's focus on resilient sectors like logistics, convenience retail, healthcare, entertainment and leisure, along with their asset management strategy, including “triple net” leases and tenant mix optimisation. Looking ahead, Andrew shares his perspective on growth opportunities through acquisitions and strategic mergers while maintaining a focus on the UK market. He highlights the challenges of high street retail compared to retail parks and discusses LondonMetric's approach to income generation and long-term investing. Andrew's book choices where:Barbarians at the Gate by Bryan Burroughhttps://www.worldofbooks.com/en-gb/products/barbarians-at-the-gate-book-bryan-burrough-9780099469155The Predators' Ball by Connie Bruckhttps://www.abebooks.co.uk/servlet/BookDetailsPL?bi=31852760243The Big Short by Michael Lewishttps://www.worldofbooks.com/en-gb/products/big-short-book-michael-lewis-9781846142574Adventures in Time: Nelson, Hero of the Seas by Dominic Sandbrookhttps://www.amazon.co.uk/Adventures-Time-Nelson-Hero-Seas/dp/0241552214/Andrew's podcast choices where:We Study Billionaires - The Investor's Podcast Networkhttps://podcasts.apple.com/us/podcast/we-study-billionaires-the-investors-podcast-network/id928933489Acquired with Ben Gilbert and David Rosenthalhttps://podcasts.apple.com/us/podcast/acquired/id1050462261This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Economic Recession Risks Rising inflation and interest rates can lead to a recession, decreasing demand for housing. Sources: The Guardian, BBC News. Increased Mortgage Rates Higher borrowing costs may deter potential buyers, leading to a drop in property values. Sources: Financial Times, The Telegraph. Cost of Living Crisis Struggling households might prioritize essential expenses over home purchases, reducing market activity. Sources: The Independent, Sky News. Oversupply of Properties A potential increase in new builds combined with reduced buyer demand could create an oversupply situation. Sources: Property Week, The Times. Changing Work Patterns The rise of remote working may reduce demand in traditionally desirable areas, leading to price declines in those regions. Sources: The Sun, Metro. Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
How effective have new Consumer Duty protections been since being introduced by the Financial Conduct Authority (FCA) in 2023? How have financial services firms responded? And what kind of enforcement risks should firms be concerned about? Now that the dust has somewhat settled, this podcast looks at the impact of new consumer protections introduced by the FCA in 2023. For many financial services firms this has been a huge shift; requiring a fresh approach to regulation, governance, management information, and more. In this episode, Ashurst colleagues Nathan Willmott, Jake Green and Adam Jamieson offer a balanced view of the relative highs and lows of the Consumer Duty so far. They discuss the FCA’s focus on vulnerable customers, analyse the regulator's communications explaining its expectations to firms, and reflect on the FCA’s broadly positive view of how firms have responded. While acknowledging the administrative burden on firms, Adam and Jake agree that the Duty has had a positive cultural impact. And Nathan points out that the Duty is one way in which the FCA is using a broader toolkit to get firms to do what it wants them to do. Our expert panel also point out some areas of concern (including hidden costs and the unpredictability of where enforcement may occur), and they highlight some of the FCA’s learning experiences to date. The trio discuss what “doing the right thing” means in practice and how much risk this carries for regulated firms. And finally, they suggest some modifications that the FCA could make to its approach, which would ensure the Consumer Duty has the most effective impact going forward. To hear this (and to subscribe to future episodes in season two of our enforcement mini-series) search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify, or your preferred podcast player. And to find out more about the full range of Ashurst podcasts, visit ashurst.com/podcasts. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.See omnystudio.com/listener for privacy information.
Is It the Right Time to Buy? In the second episode of Season 15, I tackle the pressing question on many prospective buyers' minds: Is it the right time to buy a house in the UK? With so much uncertainty in the housing market, making informed decisions is crucial. We delve into the latest market trends, discussing factors like house prices, interest rates, and the balance of supply and demand. Understanding these elements helps you assess whether now is the right time to buy. Public perception plays a significant role in the housing market. In this episode, we explore how buyer sentiment has shifted and address common misconceptions about timing the market. Assessing your personal readiness is key. We provide tips on evaluating your financial stability, job security, and long-term plans, emphasizing that personal circumstances should guide your decision. We interview a financial advisor who offers invaluable advice on navigating the complexities of home financing. Additionally, we discuss market predictions to give you a clearer picture of where things might be headed. In a competitive market, standing out as a buyer is essential. We share strategies like getting pre-approved for a mortgage and being flexible on terms. Remember, viewing home buying as a long-term investment is crucial, regardless of market conditions. In summary, the decision to buy a home involves careful consideration of both market conditions and your personal readiness. We encourage listeners to reflect on their circumstances and seek advice as needed. We hope you found these insights valuable! Stay tuned for more episodes, and don't forget to subscribe and leave your thoughts in the comments. Until next time, happy house hunting! Think of this podcast as if you are sitting and chatting with friends. A lot of business tips and advice on how I progressed from my 9-5 office role to a Director of my own company. There will be banter about success and financial freedom the odd motivational speech to also give you a boost. I will share thoughts on various subjects and use this to document my career journey occasionally joined by guests. be sure to reach out if you have any questions. I will only send you emails relating to the topics I talk about in my podcast/show My Business Working for Yourself podcast is powered by TrustedCreators.org. Clarity
InvestOrama - Separate Investment Facts from Financial Fiction
I will updat this laterExplore the evolving nature of the pension system, the impact of demographic changes, and the role of technology in making pension management more efficient. Discover how the pension landscape in the UK is adapting to new challenges and opportunities, and what the future might hold for workers and retirees alike. With Alyshia Harrington-Clark Head of DC, Master Trusts and Lifetime Savings, PLSA (Pension and Lifetime Savings Association) USEFUL LINKS About the PLSA : https://www.plsa.co.uk/ Check out the @PlsaUk on YouTube
This week Nick talks to Steve Ruffley Steve Ruffley is a professional trader of nearly 25 years. Steve offers personalised trading risk management and mentoring packages and is a published author with The Pro Retail Trader: How to Generate Professional-level Returns as a Retail Trader. The discussion explores Steve Ruffley's career in financial markets, detailing his journey from a university dropout to a professional trader. Initially working at PricewaterhouseCoopers, he later discovered his passion for trading in Gibraltar, where he joined a proprietary trading firm. Ruffley reflects on the challenges of professional trading, including high financial targets and the transition from floor trading to electronic platforms. After a stint in risk management, he returned to independent trading, focusing on indices and forex. He emphasises the importance of discipline, confidence, and quick decision-making in trading, distinguishing between retail and professional approaches. Steve also shares insights on market adaptability, critiques the growing influence of AI in trading, and discusses his latest book, The Pro Retail Trader, which aims to guide retail traders in advancing their skills. He expresses scepticism toward Bitcoin as a tradable asset and highlights the role of algorithmic trading. Steve's published books are:The Pro Retail Trader: How to Generate Professional-level Returns as a Retail Traderhttps://www.amazon.co.uk/Pro-Retail-Trader-Generate-Professional-level/dp/1804091375The Ruff Guide to Trading: Make Money in the Marketshttps://www.amazon.co.uk/Ruff-Guide-Trading-Money-Markets/dp/0857194003/ Steve's film choice was: Rocky IVhttps://www.amazon.co.uk/Rocky-IV-Vs-Drago/dp/B09MNTHVQZSteve's Music choices where:Battleship Chain by The Georgia Satelliteshttps://open.spotify.com/track/0dJEQ01IPN4ukqRsPrm4abThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
Send us a textWelcome back to the show! Today, we're diving into some major shifts in the UK property market, from potential mortgage rule changes to foreign investment trends and the rise of a new generation of wealthy buyers. Let's get started.Easing Mortgage Rules—Will It Really Help?The UK government is considering loosening mortgage regulations, particularly the loan-to-income flow limit, to boost home ownership and drive economic growth. But will it work?After the global financial crisis, the Financial Conduct Authority (FCA) tightened mortgage rules to prevent reckless lending. That's why mortgage arrears and repossessions have stayed much lower than they were during the crisis. Even though the FCA removed mandatory stress testing in 2022, lenders still apply their own risk assessments, meaning any regulatory changes might not have a huge impact.The Bank of England's data suggests that mortgage rules haven't been the main problem for first-time buyers—it's the massive deposits they need to put down. So, while relaxing regulations might increase borrowing capacity, it could also push house prices even higher if supply doesn't keep up with demand. That could make home ownership even tougher, rather than easier.The big question: Can the government encourage more home ownership without overheating the market?Foreign Investment—Why Prime London is Losing Its ShineFor years, London's prime property market was a magnet for global wealth. But in late 2024, things shifted. Buyer registrations were down 8%, and offers fell by 11%. Since its peak in 2015, prime central London property prices have dropped 18%.Why? A mix of political uncertainty, higher borrowing costs, and tax changes for foreign investors. The government's tweaks to the temporary repatriation facility offer a small tax break, but the real issue is inheritance tax on overseas trusts. Until that's resolved, wealthy investors will keep moving their money to places like Italy, Switzerland, and the Middle East.Surprisingly, prime outer London has held up better, with transactions rising 10% compared to just 3% in prime central areas. It seems London is no longer the automatic first choice for global investors.The Rise of Younger, Fast-Moving MillionairesAnother big shift? A new generation of wealthy buyers is transforming London's super-prime property scene.Traditionally, luxury homebuyers were in their 50s and 60s. But today, many are in their 30s and 40s, having made their fortunes in tech, finance, and digital industries. And with millennials set to inherit £5.5 trillion over the next 30 years, this trend is only just beginning.But sudden wealth isn't always easy to navigate. Some struggle with the costs of prime London property, while others feel pressure from family expectations or worry about standing out too much in their social circles. Plus, many underestimate how competitive the market can be—assuming money alone will guarantee the property they want. With rising stamp duty and other costs, making the wrong property decision can be expensive.So, some advisers suggest younger buyers should take their time, settle into their financial statPROPERTY WEALTH - Transforming challenges into opportunities with specialist knowledge and reach. Explore the complexities of the London property market with us—insights, advice, and connections at your fingertips.Join the conversation! Share your thoughts and questions in the comments below. Don't forget to follow us for the latest updates and expert advice! https://www.londonproperty.co.uk/en/link-in-bio/#PropertyWealth #LondonProperty #RealEstate #PropertyMarket #Investment #HomeBuying #HomeSelling #PropertyAdvice #RealEstateTips #PropertyInvestment #LuxuryLiving
Is It the Right Time to Buy a House in the UK? Resources: Access additional materials such as show notes, guides, and help sheets by clicking on "Show Resources" at www.ZulfTalks.com to receive downloads directly to your inbox. Rest assured, I will only send emails related to the topics discussed in this podcast/show. The Working for Yourself Podcast is proudly supported by TrustedCreators.org. Clarity: : The information talked about in this episode is not financial advice or recommendations. The information does not constitute financial advice or recommendation and should not be considered as such. I am not regulated by the Financial Conduct Authority (FCA), therefore not authorised to offer financial advice. Do your own research and seek independent advice when required. Views and opinions expressed in this episode by the guests and or speakers are those of their own and do not necessarily reflect the views of Zulftalks.com or TrustedCreators.org. Having guests on this podcast does not endorse them, their services or their products.
Season 4 kicks off with Nick talking to friend of the show, Dr Daniel Daniel who runs the The Crypto Investing Program. Since the U.S. election in November Bitcoin has experienced a significant bull run, with its price surging from approximately $69,000 on Election Day to over $100,000 by mid-January 2025. This upward trajectory is largely attributed to the election of President Donald Trump, who has expressed strong support for cryptocurrencies. His administration's pro-crypto stance, including plans to establish the U.S. as a "crypto capital" and the appointment of digital assets expert Paul Atkins as SEC Chair, has bolstered investor confidence. Nick and Daniel discuss the state of the cryptocurrency market in early 2025. Daniel attributes the current bull run to cyclical market patterns, the halving event, and President Trump's pro-crypto stance. He highlights Bitcoin's rise to over $100,000, predicts its peak around $150,000 during this cycle, and emphasizes its role as a store of generational wealth akin to gold. Daniel explains his preference for altcoins, which offer higher short-term returns, and shares insights into selecting promising projects using his "golden list." He also warns of the prevalence of scams in the crypto space and advises caution. The conversation touches on the potential impact of spot ETFs and the importance of timing in the volatile crypto market. Daniel's Music choices where:Music by Madonnahttps://open.spotify.com/track/2fzykVsO2Di5jnofUNX3YE Bryan Adams Summer of 69https://open.spotify.com/track/0GONea6G2XdnHWjNZd6zt3Good Feeling Song by Flo Ridahttps://open.spotify.com/track/2LEF1A8DOZ9wRYikWgVlZ8This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In December 2024 Igneo agreed the 100% acquisition of Madrid-based bioenergy company ENSO Group. In this NEWSFLASH episode Ignacio Perez provides an insight into this innovative company and its focus on facilitating the decarbonisation of Iberia's heat and electricity supply utilising electric, thermal and cogeneration biomass plants. **********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
Jes Staley, former CEO of Barclays and senior executive at JPMorgan Chase, is embroiled in multiple lawsuits due to his association with Jeffrey Epstein. JPMorgan Chase has sued Staley, alleging that he concealed Epstein's illicit activities to maintain him as a client, thereby exposing the bank to legal liabilities. The bank seeks to hold Staley personally accountable for any penalties arising from related lawsuits and to recover compensation paid during his tenure. These legal actions stem from claims that Staley was aware of, and possibly participated in, Epstein's sex trafficking operations, with evidence suggesting he exchanged approximately 1,200 emails with Epstein between 2008 and 2012, some containing unexplained terms like "Snow White."The Financial Conduct Authority (FCA) in the UK has accused Staley of providing misleading information about his relationship with Epstein during their investigation. The FCA intends to ban him from senior financial roles and impose a £1.8 million fine, citing inconsistencies in his statements regarding interactions with Epstein. Staley's close ties to Epstein, including visits to Epstein's private island and correspondence during Epstein's incarceration, have raised serious concerns about his judgment and integrity. These revelations suggest a profound lapse in ethical standards, as Staley's actions may have facilitated or overlooked egregious misconduct, undermining trust in the institutions he led. to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
⚠️ Disclaimer:This episode was entirely AI-generated using Google's Notebook LM. Please note that Google's Notebook LM has been criticized for being extremely left-leaning and displaying strong bias, which is inappropriate for AI-driven content creation. Listeners are encouraged to remain aware of potential biases and consume information critically. Welcome to The AI Takeover Series! Discussion of "whales" (large investors) potentially influencing the market ahead of major events like the FOMC meeting. Concept of "stop loss hunting," where prices are driven down to trigger automatic sell orders. Debate over whether such activities are intentional or just responses to market conditions. Key takeaway: Be prepared for volatility, especially around major events. Bitcoin-to-gold ratio hits a record high at 37.3: 1 Bitcoin now worth over 37 ounces of gold. Crypto enthusiasts view this as proof of Bitcoin's rise, while traditionalists like Peter Schiff criticize Bitcoin's speculative nature. Analysis of Bitcoin's growing correlation with gold during economic uncertainty. Takeaway: Investment strategies should align with individual goals and risk tolerance. Tether's investment in a compliant European stablecoin, EURR, raises questions about its motives. Concerns from regulators about Tether's transparency and reserve practices. Insight: Stay informed and cautious when dealing with stablecoins. The Financial Conduct Authority (FCA) proposes stricter rules for crypto firms, including transparency in reserves and enhanced due diligence. Balancing innovation with consumer protection remains a challenge. Key point: Regulations aim to bring order to the “wild west” of crypto. Partnership between Dubai and Infinite Reality to drive Web3 engagement. Challenges include early-stage VR technology and the need for unique content. Future focus: Creating compelling experiences beyond replicating the real world. Hypothetical exploration of dismantling the Federal Reserve led by a fictional "Doge Department" featuring Elon Musk and Vivek Ramaswamy. Discussion on cryptocurrencies as potential alternatives to centralized financial systems. Debate over economic freedom vs. risks of volatility and instability. Stay Informed: The crypto landscape is dynamic and unpredictable. Knowledge is your best ally. Be Critical: Don't blindly follow hype or fearmongering; do your own research. Engage Thoughtfully: Whether you're a seasoned investor or a curious beginner, explore at your own pace and understand the risks involved. Closing Remarks:This deep dive covered market manipulation, Bitcoin's rivalry with gold, Tether's compliance, regulatory changes, the metaverse, and even a radical vision of a world without the Federal Reserve. AI-driven insights bring a fresh perspective to these interconnected topics. Stay tuned for more episodes from The AI Takeover series by Blockchain DXB. Until next time, keep exploring, keep learning, and happy crypto adventures! To support this channel: https://www.patreon.com/BlockchainDXB ⚡ Buy me Coffee ☕ https://www.buymeacoffee.com/info36/w/6987 ⚡ Advanced Media https://www.amt.tv/ ⚡Spartan Race Trifecta in Dubai https://race.spartan.com/en/race/detail/8646/overview For 20% Discount use code: George20 ⚡ The Race Space Podcast
This week Nick talks to Matt Timmins Matt was appointed to the FINTEL Board in May 2010 after joining in 2002, bringing extensive expertise in sales, marketing, and mergers and acquisitions. He has cultivated strong relationships with key distribution partners and holds a Postgraduate Diploma in Marketing from the Chartered Institute of Marketing (CIM). With a background that includes various marketing roles at GE Capital, Misys, and DBS Financial Management, Matt combines deep industry knowledge with strategic leadership. Nick and Matt talk about Matt's career, how FINTEL grew out of SimpyBiz to becoming the UK's leading financial services platform.Matt's book choice where:Rich Dad Poor Dad: by Robert T. Kiyosaki https://www.amazon.co.uk/Rich-Dad-Poor-Teach-Middle/dp/1612680194Greenlights by Matthew McConaughey or the Audio Book ,Matt music choice's where:Urban Hymns - The Verve https://open.spotify.com/album/52AeC4gwbxDfFlLHgK1ByDOrinoco Flow (Sail Away) by Enyahttps://open.spotify.com/track/0Fyj9w0HVfjoxm9S8nGCltFix You by Coldplayhttps://open.spotify.com/track/7LVHVU3tWfcxj5aiPFEW4QThis content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
The Keeping it Real Assets podcast continues! Join us for our new mini-series as we explore the themes of Innovation in Infrastructure with real-life, implemented examples from across Igneo's Portfolio Companies. We are delighted that Simon Montague from the GIAA is hosting this series. In this the second episode in our Innovation in Infrastructure Series, Simon is joined by Mike Maudsley, CEO of enfinium. As one of the UK's leading energy from waste operators, enfinium is supporting the UK's journey to a Net Zero economy. enfinium is operating and developing six decarbonisation hubs around the UK and is using waste that would otherwise go to landfill to generate homegrown energy. Simon and Mike explore the highly innovative, highly debated and highly complex opportunity for the energy transition that could be made possible using Carbon Capture and Storage technology. If you truly want to understand this debate-this is the podcast episode to listen to!**********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This week Nick talks to Robbie BurnsRobbie has been a journalist and writer since earning his journalism degree from Harlow College in 1981. He began his career as a reporter and editor for various local newspapers before becoming editor of ITV and Channel 4's teletext services from 1988 to 1992. During this time, he also wrote ITV's daily teletext soap opera, Park Avenue, for five years.Afterward, Robbie transitioned to freelance journalism, contributing to newspapers such as The Independent and The Sun, and played a role in establishing CNN's financial news service. In 1997, he became editor of BSkyB's teletext services, where he launched their shares and finance section and developed entertainment phone lines, including a Buffy the Vampire Slayer hotline that earned him nearly £250,000.In 2001, Robbie left full-time employment to focus on share trading and running a London café, which he later sold for double his initial investment. While at BSkyB, he began broadcasting a diary of his share trades, which gained significant popularity and was later moved to his website, nakedtrader.co.uk. The site became one of the UK's most-read financial resources. Currently, Robbie writes a weekly column for ADVFN and conducts trading seminars featuring live market demonstrations. Since 2001, he has achieved tax-free trading gains exceeding £2.5 million, earning him a place among the UK's few ISA millionaires. His publicly shared trades alone have generated over £1.5 million in profits, showcasing his consistent success even during challenging market periods.Nick and Robbie talk about his career path to becoming the Naked Trader and his favoured stocks. The 6th edition of the Naked Trader is available here. Robbie's Book Choice:Rich Dad Poor Dad: by Robert T. KiyosakiRobbie's music choice's where:I'm Alive by Stretch & Vernhttps://open.spotify.com/track/5F9rZa65ePNd3HZFkavre7This content is issued by Zeus Capital Limited (“Zeus”) (Incorporated in England & Wales No. 4417845), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”) for designated investment business, (Reg No. 224621) and is a member firm of the London Stock Exchange. This content is for information purposes only and neither the information contained, nor the opinions expressed within, constitute or are to be construed as an offer or a solicitation of an offer to buy or sell the securities or other instruments mentioned in it. Zeus shall not be liable for any direct or indirect damages, including lost profits arising in any way from the information contained in this material. This material is for the use of intended recipients only.
In October 2024, Autovia Douro Litoral (AEDL) the Portuguese toll-road concession in Porto, Portugal was acquired by Igneo. In this episode Maria Luisa Castro provides an overview of the concession, the factors to consider in acquiring a toll-road and the macro factors impacting the operations of such a concession. **********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This episode of Oil Insights was recorded on 12th November, 2024 at 12pm GMT.Onyx Research Associates Mita Chaturvedi, Martha Dowding, and Vincent Wu join Group Head of Research Harry Tchilinguirian to discuss the direction of oil prices in the wake of President Donald Trump's election. The team reviews the potential outcomes of a second Trump presidency in relation to his policy proposals and aims to express their implications through trading ideas.A second Trump presidency can have strong demand or supply repercussions. Vincent will examine the potential for more US crude oil supply and exports and their incidence on the relative pricing of WTI, Brent, and Dubai. Martha will look at how the potential for lighter regulation, particularly regarding renewable fuel mandates, will impact the US gasoline market. Finally, Mita delves into how future US trade policy, with heavy tariffs to be applied to China, can affect naphtha in Asia.We'd love to hear from you! If you'd like to get involved with our podcast, please leave a comment on this video on our YouTube page. What is your favourite oil Trump trade. You can also listen to the podcast on Spotify, Apple Music, or Google Play.Disclaimer: Any recommendation, prediction, or suggestion as to an investment strategy has been prepared by Onyx Capital Advisory Limited (“Onyx”) in accordance with legal requirements designed to promote the independence of investment research (“Research”). This research is directed at, and therefore should only be relied upon by, clients who have professional experience in matters relating to investments. Onyx's Research is not directed at retail clients or those in a jurisdiction in which this distribution may be restricted by local regulation or law. Onyx's publications are prepared without taking into account your specific investment objectives and financial situation, therefore before acting on any information, you should consider its appropriateness. Onyx's Research should not be regarded as a substitute for obtaining independent professional advice, including investment, tax and legal advice. Onyx's policy is to only publish Research that is impartial, independent, clear, fair, and not misleading. Any views expressed are those of Onyx's at the time the Research was prepared. No assurances or guarantees are given as to the reliability, accuracy, or completeness of any such information or any matter contained in Onyx's Research and such Research may contain statements which are matters of judgement and which are subject to change at any time without notice. Onyx accepts no duty or liability, whatsoever, to any party in respect of its Research. Under no circumstances will Onyx be responsible for any losses incurred (whatever their nature) by its clients resulting directly or indirectly from the use or interpretation of any information contained in its Research. Such Research is solely produced and published by employees of Onyx and based on publicly available information. Past performance is not indicative of future performance.Analysts are required to ensure that they have a reasonable basis for their analysis, predictions, and recommendations. Onyx maintains strict regulatory controls to mitigate any conflicts of interest including information barriers and restrictions on the undertaking of personal transactions in financial instruments.Onyx is registered in England & Wales (company number 11472304) with its registered address at 95 Cromwell Road, Second Floor, London, United Kingdom, SW7 4DL. Onyx is authorised and regulated by the Financial Conduct Authority (FCA no. 822509).
In this conversation, Freddie New, general counsel at The Little Car and Head of Policy at Bitcoin Policy UK, discusses the evolution of Bitcoin regulation in the UK. He highlights the historical context of regulatory attitudes, the role of the Law Commission in recognizing Bitcoin as property, and the challenges posed by the Financial Conduct Authority (FCA). The conversation also touches on banking access issues, the impact of fraud concerns, and the future of Bitcoin custodianship. They also discuss the strategic reserve held by the UK government, regulatory challenges faced by Bitcoin exchanges, and the broader policy goals for Bitcoin advocacy. Freddie sheds light on the political landscape and the need for engagement with politicians to promote Bitcoin-friendly policies. Additionally, they address the ECB's recent criticisms of Bitcoin and contrast the regulatory approaches of the UK and EU. Takeaways Freddie New advocates for Bitcoin policy in the UK. The UK has a history of misunderstanding Bitcoin. The Law Commission has recognized Bitcoin as property. The FCA has restricted access to Bitcoin products. Fraud concerns impact banking access for Bitcoin users. Bitcoin is seen as a unique form of money. The government is becoming more positive about Bitcoin. Banks are primarily concerned with self-preservation. The FCA's stance is a significant barrier to adoption. Bitcoin is for both individuals and institutions. The UK holds 61,000 Bitcoin, making it the third largest holder. There is a need for the UK to capitalize on its Bitcoin holdings. Self-custody of Bitcoin must remain legal in the UK. Access to exchanges and banking services is crucial for Bitcoin adoption. The UK should explore the potential of Bitcoin mining using renewable energy. Political engagement is essential for Bitcoin advocacy in the UK. The ECB's criticisms of Bitcoin are fundamentally flawed. The UK and EU have different regulatory approaches to Bitcoin. Pension funds are beginning to allocate assets to Bitcoin. Support for Bitcoin Policy UK can help influence positive change. Timestamps: (00:00) - Intro (01:00) - Who is Freddie New? (03:26) - An overview of Bitcoin regulatory scenario in the UK (08:00) - The shift in perception: From criminality to legitimacy (17:23) - Are banking onramps/offramps to Bitcoin a hurdle in the UK? (21:13) - AML regulations & their Implications for Bitcoin (26:21) - Sponsors (32:08) - The FCA's resistance to Bitcoin adoption in the UK; Strategic Bitcoin Reserve (40:43) - Sponsors (44:02) - Answering a questionnaire to buy Bitcoin in the UK? (47:51) - What are the Policy Goals for Bitcoin in the UK?; Bitcoin Developer community (53:06) - Politicians & their stance on Bitcoin advocacy (1:06:27) - Contrasting UK & EU Regulatory approaches (1:12:00) - How to support Bitcoin Policy UK? Links: https://x.com/freddienew Bill on digital property that's currently going through Parliament: https://bills.parliament.uk/bills/3766 Exchange walkthroughs: https://x.com/freddienew/status/1743644557441470496 https://uk.bitcoinpolicy.net/ http://www.bitcoinpolicy.uk/ Steve Baker speaking on Bitcoin in Parliament in 2014: https://www.youtube.com/watch?v=RXQpXYvUB98 Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) mempool.space/accelerator Nomadcapitalist.com/apply Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack
Keeping it Real Assets is back! Join us for our new mini-series as we explore the themes of Innovation in Infrastructure with real-life, implemented examples from across Igneo's Portfolio Companies. We are delighted that Simon Montague from the GIAA is hosting this series. In this first episode Simon is joined by Jan Doude van Troostwijk, Group Technical Manager at Evos. Evos is a leading European bulk liquid storage terminals business challenging itself on a daily basis to improve operational efficiencies and to better facilitate the energy transition. Simon and Jan explore examples of technical applications, automation and cultural change, and the role these together play in driving innovation and creating long-term sustainable value across the business. **********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
This episode of Ecotextile Talks explores the legal challenge facing fast fashion company Shein as it considers listing on the London Stock Exchange (LSE). In the summer UK based charity, Stop Uyghur Genocide, asked the Financial Conduct Authority (FCA) to reject any potential request from Shein to list on the LSE. At the moment, we don't know for sure whether Shein has submitted a request to the FCA so as we all wait, we thought that it would helpful for a lawyer to take us inside the legal case against Shein's listing on the London Stock Exchange. Not just any lawyer, but the one representing Stop Uyghur Genocide, Ricardo Gama from the UK law firm Leigh Day. We discuss: The legal basis for opposing Shein's potential listing, focusing on the UK Modern Slavery Act and the Proceeds of Crime Act. How these laws could apply to Shein's operations, even though the company produces goods outside the UK. The alleged evidence presented to the Financial Conduct Authority (FCA) regarding forced labor in the Uyghur region and its alleged connection to Shein's supply chain. Shein's response to the allegations and correspondence from Leigh Day The potential next steps in the legal process, including the possibility of a judicial review if the Financial Conduct Authority approves any potential Shein's listing. In the interests of balance and journalistic integrity, we emailed Shein on 25th September to give it an opportunity to respond to the allegations being made in this podcast by Leigh Day, on behalf of Stop Uyghur Genocide, in particular that its supply chain allegedly features forced labour, and the consequential handling of criminal property in breach of the UK Proceeds of Crime Act. We asked Shein for either a recorded interview to include at the end of this podcast, or a written statement but as of September 30th no one from Shein had replied. In the podcast we also invited Shein to record a follow-up podcast with us, to respond to the content of this one. If you would like to read more about the, "NCA and its failure to investigate imports linked to forced labour - see this Guardian article If you're interested in this issue, then you might like to listen to another recent edition of Ecotextile Talks entitled: "Can we trust textile factory audits in China?" which has an interview with the Executive Director of the Worker Rights Consortium, Scott Nova.
The Inflation Reduction Act, permitting delays, uncertain tax credits, a macro-interconnected grid, battery storage, transmission limitations and increased grid load-the big story in the US is the growth of Renewables however what are the practical implications for efficient power distribution? Join the conversation with John DiMarco, Igneo Infrastructure Partners and Greg Whetstone as they work through the good news in US Renewables but also explore the challenges presented by this growth and the aspirations for an integrated US power system. **********************Important informationThis material is for general information purposes only. It does not constitute investment or financial advice and does not take into account any specific investment objectives, financial situation or needs. This is not an offer to provide asset management services, is not a recommendation or an offer or solicitation to buy, hold or sell any security or to execute any agreement for portfolio management or investment advisory services and this material has not been prepared in connection with any such offer. Before making any investment decision you should consider, with the assistance of a financial advisor, your individual investment needs, objectives and financial situation.We have taken reasonable care to ensure that this material is accurate, current, and complete and fit for its intended purpose and audience as at the date of publication. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this material and we do not undertake to update it in future if circumstances change.To the extent this material contains any expression of opinion or forward-looking statements, such opinions and statements are based on assumptions, matters and sources believed to be true and reliable at the time of publication only. This material reflects the views of the individual writers only. Those views may change, may not prove to be valid and may not reflect the views of everyone at Igneo Infrastructure Partners or First Sentier Investors.About First Sentier InvestorsReferences to ‘we', ‘us' or ‘our' are references to Igneo Infrastructure Partners or First Sentier Investors (as applicable). First Sentier Investors is a global asset management business which is ultimately owned by Mitsubishi UFJ Financial Group. Igneo Infrastructure Partners is an unlisted infrastructure asset management business and is part of the First Sentier Investors Group.We communicate and conduct business through different legal entities in different locations. This material is communicated in:[1]Australia and New Zealand by First Sentier Investors (Australia) RE Ltd, authorised and regulated in Australia by the Australian Securities and Investments Commission (AFSL 240550; ABN 13 006 464 428) European Economic Area by First Sentier Investors (Ireland) Limited, authorised and regulated in Ireland by the Central Bank of Ireland (CBI reg no. C182306; reg office 70 Sir John Rogerson's Quay, Dublin 2, Ireland; reg company no. 629188)Hong Kong by First Sentier Investors (Hong Kong) Limited and has not been reviewed by the Securities & Futures Commission in Hong Kong. First Sentier Investors and Igneo Infrastructure Partners are business names of First Sentier Investors (Hong Kong) Limited. Singapore by First Sentier Investors (Singapore) (reg company no. 196900420D) and this advertisement or material has not been reviewed by the Monetary Authority of Singapore. First Sentier Investors (registration number 53236800B) and Igneo Infrastructure Partners (registration number 53447928J) are business divisions of First Sentier Investors (Singapore).Japan by First Sentier Investors (Japan) Limited, authorised and regulated by the Financial Service Agency (Director of Kanto Local Finance Bureau (Registered Financial Institutions) No.2611)United Kingdom by First Sentier Investors International IM Limited, authorised and regulated by the Financial Conduct Authority (reg. no. SC079063, reg office 23 St Andrew Square, Edinburgh, Scotland, EH2 1BB)United States by First Sentier Investors (US) LLC, authorised and regulated by the Securities Exchange Commission (RIA 801-93167)other jurisdictions, where this document may lawfully be issued, by First Sentier Investors International IM Limited, authorised and regulated in the UK by the Financial Conduct Authority (FCA ref no. 122512; Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB; Company no. SC079063).To the extent permitted by law, MUFG and its subsidiaries are not liable for any loss or damage as a result of reliance on any statement or information contained in this document. Neither MUFG nor any of its subsidiaries guarantee the performance of any investment products referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk, including loss of income and capital invested.© Igneo Infrastructure Partners
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