Fatimah Idera According to the Bank of America (BofA) Fund Manager Survey for March revealed that Fund managers had cut their US equities allocations by the largest amount ever recorded. The other side of this particular coin was the biggest jump in cash allocations the survey has ever found, as managers chose to de-risk rather than send the money into other risk assets. The bearish move appeared to be prompted by worries over the global economy, with BofA identifying the second biggest drop in global growth expectations among fund managers ever. The prospect of stagflation and a protracted trade war…
Author: Fatimah Idera
Tesla shares fell after Chinese electric vehicle (EV) manufacturer BYD reportedly unveiled a new ultra-fast charger capable of fully charging a car in just five minutes. BYD plans to launch vehicles equipped with this technology next month. The company claims that its Super e-Platform provides a range of nearly 250 miles in approximately the same time it takes to refuel a gas-powered car, according to Bloomberg. The company has yet to respond to requests for comment. BYD Shares Soar While Tesla Stock Declines Shares of BYD surged to an all-time high in Hong Kong following the announcement. Meanwhile, Tesla’s stock…
The U.K. government is set to introduce significant changes to the Personal Independence Payment (PIP) scheme, with some current recipients at risk of losing their benefits under a planned overhaul of the welfare system. The reforms aim to tighten eligibility criteria, with the goal of reducing the rising welfare bill while ensuring support remains available for the most vulnerable. On Tuesday afternoon, Work and Pensions Secretary Liz Kendall will outline the government’s proposed changes to the health benefits system, amid ongoing debate over their potential impact on claimants. According to official government sources, the reform package will include: Stricter eligibility…
Nearly nine in ten (88%) of the 153 upper-tier authorities in England are set to impose a 4.99% council tax increase this year, the highest amount allowed without triggering a local referendum. When councils increasing bills by 4.5% or more in April are included, the proportion rises to more than nine in ten (94%). According to an analysis, for just over two-thirds (68%) of top-tier authorities, this marks the third consecutive year that bills have increased by at least the maximum legal amount. By contrast, only nine councils have opted for a smaller increase below 4.5% this year are: Sunderland:…
North Macedonia is grappling with the tragic loss of dozens of young lives in a nightclub inferno while working to hold those responsible accountable and prevent another such catastrophe. A fire tore through the overcrowded Club Pulse early Sunday in the eastern town of Kocani, killing 59 people and injuring 155 from burns, smoke inhalation, and trampling as panicked attendees rushed toward the building’s single exit. Although the investigation into the cause of the fire is ongoing, video footage shows sparkling pyrotechnics on the stage hitting the club’s ceiling, igniting the blaze while a band played. Among the casualties were…
