Amazon UK launches Spotify Rival

Nicole Jeary
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Amazon UK launches Spotify Rival
Amazon is set to launch a music streaming service that will host around 40 million songs, rivalling competitors such as Spotify and Apply Music. The service which is called ‘Amazon Music Unlimited’ will be available to customers for the price of £9.99 a month, and will give subscribers access to an extensive library of music. The service is to be cheaper for existing Amazon Prime customers, with a price of £7.99 on a monthly basis and in addition, an annual payment plan is available for £79 annually, with an equivalent monthly fee of £6.58. The company CEO Jeff Bezos said: “Amazon Music Unlimited brings real value to the millions of people in the UK who are already Prime members, with a choice of subscribing for only £7.99 a month or £79 per year. “And if you want a sense of the future of voice-controlled music, go ahead and ask Alexa for a free Amazon Music Unlimited trial and play around on your Echo. If you don’t know the name of a song but know a few lyrics, if you want to hear songs from a specific decade, or even if you’re looking for music to match your mood, just ask.” In addition, owners of the Amazon Echo device can also receive a cheaper subscription to the new service for £3.99 on a monthly basis. The Echo speaker system was designed as a virtual digital assistant and wireless speaker. The device has the capability to facilitate voice interaction, initiating music playback as well as creating to-do lists, setting alarms and streaming podcasts or audiobooks among many other features. The service has been envisaged as a competitor for the streaming services provided by Spotify and Apple Music in the UK. However, the electronics website are attempted to give further incentives to customers with various supplementary offers and through introducing its own functioning hardware system.  

Morning Round-Up: Euro zone production down, Japan up, American Apparel bankrupt

Miranda Wadham
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Morning Round-Up: Euro zone production down, Japan up, American Apparel bankrupt

Euro zone production down in September

Euro zone industrial production fell in September, with a drop in durable goods output responsible for the fall. The figures, released by the European Union statistics office on Monday, shows production decreased by 0.8 percent in September. The number remains 1.2 percent higher year-on-year, and is above the 1 percent fall forecast by analysts. The number was in line with the Euro zone’s recent pattern of results, whereby industrial output increases one month but falls again the next.

Japanese economy shows strength, pushes shares up

Japan’s GDP expanded by an annualized 2.2 percent in the three months to September, beating anaylysts’ expectations and pushing the Nikkei 225 up. Analysts had expected a 0.9 percent rise, according to the Wall Street Journal. The figure was the third straight quarter of expansion for Japan, after three long years of investor concern over country’s economic performance. The Nikkei 225 closed up 1.71 percent at 17,672. European markets took their cue from strong Asian trading on Monday, with the FTSE 100 up 0.98 percent in mid-morning trading. Shares in housebuilder Taylor Wimpey boosted the index, rising 3.2 percent, with miners such as Randgold Resources tempering performance.

American Apparel files for bankruptcy again

Controversial US retailer American Apparel has filed for bankruptcy for the second time in just over a year, as years of heavy losses and scandal continue to affect performance.

The company have said they will continue to trade whilst negotiating a potential sale of assets to Canada’s Gildan Activewear, who have offered $66 million for the brand and its stock.    

“Artificial Intelligence will destroy jobs”, says poll

Nicole Jeary
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“Artificial Intelligence will destroy jobs”, says poll
Governments are not sufficiently prepared for the impact of artificial intelligence upon jobs, according to a Venture poll survey directed at investors Artificial Intelligence According to the research by Venture, an event that taking place at the Web Summit and has thousands of top technology investors in attendance, over half of those polled (53 percent) agreed it is “inevitable that Artificial Intelligence will destroy millions of jobs”. In addition, 93 percent of investors polled considered governments were not sufficiently prepared for the impact that artificial intelligence may have on jobs. On Brexit

Attitudes towards the UK’s decision to leave the UK were also recorded, with 82 percent agreeing that the event was damaging to the future of European economies. Similarly, around 77 percent of investors considered British startups to also be negatively impacted by Brexit and dependent upon future negotiations with Europe.

Technology

The poll also examined what various investors considered to be the biggest challenge for the tech industry. According to its findings, investors cited labour laws and regulation as key obstacles for growth. In addition, 39 percent of participants labelled tech giant Apple as the “least innovative” potentially due to its latest lacklustre Macbook and iPhone 7 releases.

The Presidential Election

Concerning the US election, the poll found that an overwhelming 94 percent of investors would have voted for Hillary Clinton, and a slightly smaller 89 percent majority had anticipated a win for the former Secretary of State. Mr Donald Trump shocked the world with a stunning electoral victory on Tuesday, despite the fact that Mrs Clinton won the popular vote by over 200,000.

Venture is a ‘Web Summit’s premier conference for VCs’ and the event was inaugurated by the Portuguese Prime Minister on Thursday. The one-day event, saw more than 500 attendees from a variety of different business sectors.

7 Deadly Sins of Trading Contracts For Difference

UK Investor Magazine
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7 Deadly Sins of Trading Contracts For Difference

We are presenting the biggest short-term trading mistakes made by investors and pairing them up with the 7 Deadly Sins.

The aim of this report is to enhance your understanding of the most common mistakes investors make when trading short-term strategies.
Reading this report may or may not instantly increase your investing profitability but it will put you on the path to a more efficient strategy.
Psychology is a big aspect of trading and many mistakes can be directly linked to emotions associated with the 7 Deadly Sins:
  • Envy
  • Wrath
  • Greed
  • Gluttony
  • Sloth
  • Pride
  • Lust
A solid understanding of the sins and their associated trading mistakes may be highly beneficial in perfecting your investing strategy.
This article is available for free for a limited time only.

Download ‘7 Deadly Sins of Trading Contracts For Difference’ for free now.
A copy will be emailed to you immediately.

By submitting my details I consent for information to be sent to me via the above contact details by Charles Hanover Investments Ltd. Contact may be made by email, post or telephone call. Any information provided is not an offer to enter into any transaction and Charles Hanover Investments Ltd will accept no responsibility for any loss incurred by acting on this information. By ticking the box below I confirm I have read and agree to the Research Terms,Terms of Business and have read and understood the Disclaimer, Privacy and Order Execution Policy.

Disclaimer: This report is for your information only. The information included is general in nature and is not in any form a recommendation to enter into any transaction nor does it constitute an offer. Depending on specific objectives and financial position the research may be unsuitable for certain investors. Charles Hanover Investments or Equitrade Markets will not accept any responsibility for any losses, including, without limitation, any consequential loss, which may be incurred by acting upon the contents of this report. Although the upmost care is taken to ensure the accuracy of this report information contained may not be entirely complete and accurate and Charles Hanover Investments or Equitrade Markets will not be held liable for any inaccuracies.

Risk Warning: Trading Contracts for Differences (CFDs), Futures and spread betting carries a high level of risk to your capital, and is not suitable for all investors. Only speculate with money you can afford to lose. Trading or placing any bets can result in consumers incurring liabilities in excess of their initial stake. Please ensure you fully understand the risks, and seek independent advice if necessary. Charles Hanover Investments is a trading name of Equitrade Markets Ltd, a company authorised and regulated by the Financial Conduct Authority for the conduct of investment business in Shares, Spread Betting, CFDs, Futures, Options and Rolling Spot Foreign Exchange.

Sainsbury’s report 9% fall in profits

Nicole Jeary
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Sainsbury’s report 9% fall in profits

Sainsbury’s reported a 9 percent fall in profits for the first-half of the year, sending shares down in mid-morning trading.

Profits fell to £277 million, with alongside a 1 percent fall in like-for-like sales in the 28 weeks leading to the end of September.

However, total group revenue rose by 1.8 percent to £12.6 billion over the same period, facilitated by strong online growth. Sainsbury’s also announced the opening of 16 new smaller convenience locations.

Sainsbury’s cited “price pressures” as a key driver of the downturn in profit, despite an overall strong market. As a result of the Brexit-related weakness in the pound, retailers across the UK anticipate a rise in costs.

In spite of disappointing numbers, chief executive Mike Coupe remained positive about the company’s prospects. He assured that the supermarket had been seeing “good progress” in regards to their UK retail strategy.

In a statement, Coupe commented:

“We have invested in the quality of our products while reducing prices on everyday items, delivering volume growth and outperforming the market in customer service and availability.”

Supermarkets have already begun raising the prices of certain products in response to sterling weakness, including Unilever items and Walkers crisps. According to research conducted by The Guardian and MySupermarket, Sainsbury’s have hiked prices for Unilever products by the biggest percentage so far.

Earlier in the year, Sainsbury’s acquired Argos-owned Home Retail Group in a bid to expand its non-food related produce in its stores. Mr Coupe continued:

“By Christmas we will open 30 Argos digital stores and create a further 30 Argos digital collection points in our supermarkets.”

Sainsbury’s has announced its intention to incorporate 250 Argos concessions in its supermarket branches across the next three years.
Shares in the supermarket dropped by over 5 percent in early morning trading, currently down 3.64 percent at 246.20 (1322GMT).

Market upset remains minor as Republicans win across the board in US elections

Katy Fleiner
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Market upset remains minor as Republicans win across the board in US elections
The Republican party has successfully secured a majority in the US Senate, the US House and saw their candidate Donald Trump being voted in as President Elect in the 2016 US Election. While European Stock markets fell in pre-trading hours, as Trumps likely victory slowly became clear, the new President Elect’s speech this morning installed new confidence, leading to an easing of the initial upset.
Donald Trump wins US Election
Donald Trump has officially secured a majority of votes in the 2016 US Presidential Election. Having won the swing state Florida, as well as the usual Democrats strong-hold Pennsylvania, Trump went ahead of Clinton in the early morning hours and became the next US President Elect with a total of 58,844,024 votes. The Republican Party also celebrated a victory in the US Senate as well as the US House, securing a majority of seats in both top US political institutions.
European Stock Market upset remains minor
European Stock Markets dropped initially during the early morning hours. FTSE100 futures fell as much as 4.5% in pre-market trading. However, Trump’s rather modest and ‘reasonable’ victory speech proved reassuring to investors. European Stock markets recovered a great part of their losses in the first hour after market open and have since only fallen modestly. The FTSE 100 is currently loosing 0.7% on the day. The CAC 40 index is down 1.68%. Germany’s DAX has lost 1.56% since market open.
Gold is the real winner
Gold and other precious metals rallied in the early morning hours as investors fled to save haven assets. Since then gold and silver prices have retracted only modestly. The gold price currently stands at US$ 1,302.50 per ounce, up 2.2%.
Market volatility remains short lived
While the early morning hours saw some upset in the stock and commodity markets, first evidence shows that market volatility due to Trump’s victory may only be short lived. His next moves, coming speeches and developments will still be watched closely.

Jaguar Land Rover sales up 11 percent in October

Nicole Jeary
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Jaguar Land Rover sales up 11 percent in October

Luxury car manufacturer Jaguar Land Rover saw sales rise 11 percent in October, 11 percent higher than the same period of the previous year.

The group sold a total of 46,325 vehicles last month, noting a 39 percent sales growth in China, 25 percent in Europe and a smaller eight percent individually in both the United Kingdom and Northern America. Despite strong sales in these markets, revenue in other overseas markets fell by 22 percent.

The promising revenue performance was particularly evident in sales of popular models such as the Land Rover Discovery Sport, Range Rover Evoque, Jaguar XF, which also coincided with the introduction of the Jaguar F-PACE onto the market.

Despite the strong figures, Jaguar announced it was withdrawing its interest from the purchasing or leasing deal of the Silverstone racing track. A spokesperson commented on the development:

“Jaguar Land Rover has ended discussions with the British Racing Drivers’ Club for the foreseeable future and is not proceeding with any plans to either lease or purchase Silverstone at this time”.

The negotiation talks had been underway since April of this year, with JLR envisaging the tracks becoming “a heritage site” to display the manufacturers premium luxury vehicles. It was initially thought that JLR were potentially securing a deal worth £33 million with the British motor racing institution, in return for a 249-year lease on the track.

Silverstone is owned by the British Racing Drivers Club (BRDC), a group consisting of 850 shareholders. In the five years to 2015, BRDC made reported losses of £55.9 million.

Circuit owner British Racing Drivers’ Club (BRDC) declined to comment on the latest development which will no doubt prove a concern for the struggling group.

Conversely, shares in the owner of JLR Tata Motors Limited (NYSE:TTM) were up 2.56 percent as of Monday morning.

Morning Round-Up: Tesco Bank hacked, house prices up, Ryanair confident

Miranda Wadham
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Morning Round-Up: Tesco Bank hacked, house prices up, Ryanair confident

20,000 Tesco Bank customers’ money at risk

Around 20,000 Tesco Bank accounts suffered “significant” fraudulent activity over the weekend, the bank’s CEO said on Monday. Tesco Bank are temporarily stopping online transactions after 40,000 accounts experienced suspicious transactions in the early hours of Sunday morning. Around 20,000 of those had money removed from their bank. However, CEO Benny Higgins moved to calm customer fears on Monday morning, saying that “any financial loss that results from this fraudulent activity will be borne by the bank”, adding that “customers are not at financial risk”.  

UK house prices up in October

House prices increased dramatically in October, going against the market’s general downward movement and surprising analysts. The figures, from mortgage lender Halifax, showed a 1.4 percent rise in October. This comes after a 0.3 percent rise in September. Analysts had expected a rise of around 0.2 percent.

Ryanair confident after strong figures

Ryanair reported a 7 percent increase in first-half profits on Monday, describing it as a “strong first half”. The budget airline disclosed a €1.168 billion profit between April and September and raised its long-term traffic forecast by 10 percent. Ryanair remained confident it could deliver good figures in the second half of the year, “despite the uncertainty of Brexit”. In an interview with the BBC, CEO Michael O’Leary said business was “booming”, but that the environment was “bearish” after the Brexit vote. Last month, Ryanair reduced full-year profits guidance to between €1.3 billion and €1.35 billion, 5 percent lower than originally expected. 
07/11/2016

What will yesterday’s ‘Super Thursday’ announcements mean for your business?

Miranda Wadham
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What will yesterday’s ‘Super Thursday’ announcements mean for your business?
Yesterday saw two major announcements: the government lost its case in the High Court and is now unable to trigger Article 50 without parliamentary approval, and the Bank of England will be keeping interest rates on hold at their record low of 0.25 percent. The High Court’s decision was met with mixed reactions – some saw it as a victory for parliamentary supremacy, with others seeing it as an unnecessary obstacle in the way of negotiating a Brexit – but both agreed it was historic. In the wake of that, the Bank of England’s monetary policy announcement seemed a little undramatic – but it still has important ramifications. According to Phil Foster, Managing Director of Love Energy Savings, the High Court decision will mean more uncertainty for the financial markets.
Phil Foster, Managing Director of Love Energy Savings
Phil Foster, Managing Director of Love Energy Savings
“The High Court ruling today will not have done much to remedy this uncertainty, throwing into question the ability of Theresa May to invoke Article 50 in March 2017 as previously speculated. “Despite the pound’s value experiencing an uplift, this is not indicative of an improvement in investor confidence long term. We can rest assured that the next few months will be ones of uncertainty, not just economically but also politically, as the democratic will of the people is challenged by, well… democracy.” The Bank of England highlighted growing inflation in the UK, usually a sign of a healthy economy. However, according to Foster, it may not be good news for businesses: “The issue that may now face businesses, as it continues to rise, is the impact it will have on real wages. As prices rise, employees will be calling for wage increases to match the rate of inflation, with some businesses already struggling to make ends meet in the current economic climate, this additional cost could be the final nail in their coffin. “It is a delicate balancing act between ensuring that price levels support growth, and compensate for the depreciation of sterling, without placing additional pressure on those who are already feeling the strain.” With drawn-out Brexit negotiations and the threat of higher prices, it may be a difficult environment for small and medium-sized businesses. “In the meantime, it is vital that SMEs save money where possible, to shield themselves from higher prices and the demands for wage increases. It has therefore never been more important for businesses to micro-manage their finances,” Foster added. 
04/11/2016

Sterling rises and FTSE falls on Super Thursday

Miranda Wadham
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Sterling rises and FTSE falls on Super Thursday
Sterling rose and the FTSE 100 fell after the UK government lost a landmark case in the High Court on Thursday. Judges in the High Court ruled that Prime Minister Theresa May could not trigger Article 50 without approval from parliament. Consequently, sterling gained significantly against other currencies, hitting a four week high later in the day as the Bank of England announced that interest rates would remain at 0.25 percent. The FTSE 100 fell on the news, currently down 0.8 percent on the day. Mid caps rose however, outstripping the FTSE 100 by the greatest margin since April 2009. The FTSE’s international exposure tends to mean that as sterling strengthens, shares fall. Mid caps focus largely on the UK, meaning they benefitted from a stronger pound. Kathleen Brooks, Head of Research at City Index, said in a note:
“This decision has increased the uncertainty around the UK’s decision to leave the EU… The FTSE 100 is lower, but this is largely a result of global equity weakness and the FTSE’s inverse correlation with the pound.” 
03/11/2016
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