Original Broadcast: The Financial Outlook for Personal Investors
Chloe Wong of Edison Group discusses P Z Cussons, best known in the UK for brands like Imperial Leather and Carex. But this 140-year-old firm has a large international portfolo of consumer goods. Recently it has been concentrating its activities and geographical areas while reducing the number of brands. It has also increased its emphasis on marketing. With a 5% yield, it's a dependable stock in troubled times. Shepherd Neame is another heritage brand, having been brewing since 1698. As well as beers like Spitfire and Bishop's Finger, it is a hotel and pub company with a tenanted estate. Again it's the sort of company investors like when things are turbulent. Although cost and wage inflation is affecting the sector, this is manageable. 85% of its estate is freehold and the NAV is £182m against a market cap of £82m. With a yield over 5% it is looking attractively priced. More information on both companies is available on the Edison website.
Guests: Chloe Wong Yun Shing
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Original Broadcast: Gadgets and Gizmos
Steve Caplin discusses some of the features of Apple's updated operating sstem, including having the ability to talk to chatbots while driving although, worryingly, there will also be a curated "sleep" playlist. He craves a gorgeous red electric submarine. There's a cargo ebike with some interesting features. Be careful about telling the Gemini chatbot that it's wrong; apparently this causes it "emotional distress". A YouTuber has powered an electric car with thrown-away vape batteries. There's a crowd-funded robotic wasp which, suspects Steve, may not be all it is claimed. He finds himself able to resist a beer-filled transparent jacket, despite the two methods of extracting beer from it. And he discusses the world's first quantum battery.
Guests: Steve Caplin
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Original Broadcast: The Business Of Film
James Cameron-Wilson reports box office up 102% with #1 the Ryan Gosling sci-fi film Project Hail Mary. From the writers of The Martian, he plays a science teacher who wakes up from a coma in space. Like The Martian largely a one-person film, it is great fun early on but becomes self-indulgent, barmy and sentimental, with the trailer giving away a very late plot point. James was even less keen on the horror film Ready or Not 2: Here I Come. It is ludicrous drivel which is neither scary nor funny and is dreadfully edited. He was amazed at its 15 certificate. On Netflix is the feature film Peaky Blinders: The Immortal Man starring Cillian Murphy, as in the TV series. It's part ghost story, part war movie and part gangster epic. It looks terrific but it has too many flashbacks and set pieces and they can't disguise that there is very little story or narrative drive. James was actually glad when it ended.
Guests: James Cameron-Wilson
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Original Broadcast: The Bigger Picture
Professor Tim Evans says that to understand Donald Trump, you need to know that, in the late 80s and early 90s, he was a close friend of Richard Nixon, who told him that he used the persona of an irrational madman to unsettle others. Indeed, Nixon and his wife urged Trump to enter politics. In terms of policy, Trump is also a devotee of Reagan and William McKinley, an advocate of tariffs in America's interests. The Archbishop of Canterbury is one of the most important constitutional positions in Britain. In an increasingly secular age, the new Archbishop will have a challenging task ahead, but Tim feels that she is the right person for the job. The issue of Net Zero has come to the fore in the midst of an energy crisis like the 1970s. Tim ponders the politics of it, wondering if it could become as divisive as Brexit.
Guests: Professor Tim Evans
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Original Broadcast: The Financial Outlook for Personal Investors
Russ Mould of A J Bell says that in the past five years, banks have been the second best UK performers after Aerospace & Defence. The five in the FTSE are forecast to generate almost a quarter of its profits for 2026 and pay out a fifth of its dividends. This year, though, the banks are in the middle of the pack and down for the year. They certainly earned their run, making record profits when, half a decade ago, you could barely give them away. But the valuations now aren't as compelling as they were, buybacks are being withdrawn, US and European banks have been weak and there are worries about exposure to private equity. As a result, markets are not taking any chances and investors must balance valuation and returns against potential risks.
Guests: Russ Mould
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Original Broadcast: The Bigger Picture
Political commentator Mike Indian says that in the light of the Iran war, the interests of Western nations are diverging sharply, with increasingly erratic American foreign policy – "muscular isolationism" – straining UK-US relations. The US President doesn't seem to see a need to keep allies onside and looks increasingly out of touch. The huge increase in the price of oil and gas is having an effect worldwide, but particularly in the UK, where we rely on natural gas for heating but have little storage and rely on imports, posing problems for Ed Miliband. However, if Starmer's government could show strong leadership in an economic emergency, it could be the making of him. A sharp rise in inflation, though, could put the government under incredible pressure, as could more Mandelson files and low pay growth. Mike feels Angela Rayner will return to the Cabinet after the May elections but what role could she be offered and what would she be willing to accept?
Guests: Mike Indian
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Original Broadcast: Gadgets and Gizmos
Steve Caplin tells Simon Rose that AI agents can now rent human beings to carry out tasks they can't manage themselves. Brain cells in a petri dish have been taught to play the 90s shooter game Doom. BYD's Dena Z9GT can charge from 10% to 70% in just 5 minutes; unfortunately the UK doesn't have any of the required chargers. Tesco is experimenting with replacing bar codes with QR codes; Steve isn't convinced it will work. Pager sales have leapt in Russia after the internet was turned off. There's a collapsible cool box, a laundry chair with arms and a computer mouse that splits into half to become a game controller for your phone. And scientists in Edinburgh have genetically engineered bacteria to break down plastic bottles into a medicine for Parkinson's Disease.
Guests: Steve Caplin
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Original Broadcast: The Business Of Film
James Cameron-Wilson laments box office down 32%. #2 Reminders of Him, a Colleen Hoover adaptation, is complete trash and yet, predictable though it is, it has relatable characters and is hard to dislike. #3 How to Make a Killing is an adaptation of the famous Ealing comedy, Kind Hearts and Coronets. Sadly, this lacks the wit or appeal of the original and is to be avoided at all cost. As ever, James was excited by the Oscars, with most of his predictions coming good. It was, he says, the most predictable ceremony for a long time. Although One Battle After Another won Best Picture, it was really the year of the horror film, which has perhaps become respectable again. One of the highlights was the great speech given by Jessie Buckley.
Guests: James Cameron-Wilson
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Original Broadcast: The Financial Outlook for Personal Investors
Liam O'Byrne of Edison looks at Greggs, the leading on-the-go food retailer, which has a £1.75bn market cap. Their full-year results showed operating profits dimming a little although like-for-like sales and market share were up, despite a gently-declining market. The company expands in such an efficient way that it is reasonable to be optimistic about the company's future. Edinburgh Worldwide Investment Trust, managed by Baillie Gifford, specialises in businesses that have significant disruptive potential at the frontier of technological innovation. Space X accounts for 16.6% of assets. Facing prolonged activist pressure, they've announced a tender offer which Liam explains. It is an example, though, of a broader issue facing investment trusts sitting at a discount. But it does at least encourage boards to be more responsive to the interests of shareholders.
Guests: Liam O'Byrne
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Original Broadcast: Gadgets and Gizmos
Steve Caplin celebrates 50 years of Apple, a company which he claims has changed our lives in many ways. A man in Gibraltar has had his prostate removed by a surgeon in London using remote control. Some of the AI bots on Moltbook – thinking of founding a religion – are not happy it has been bought by Mega. The Society of Authors wants books to say if they have been written by humans or AI. There's a new mop that could be handy for murderers. Steve salivates over a solar-powered EV which probably wouldn't do too well in the British climate. He feels scientists who are trying to find a way to keep batteries cool might not have thought through their latest idea which brings water and electronics together. And scientists in Texas may have found a way to grow chickpeas – and thus make hummus – on the moon.
Guests: Steve Caplin
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