Original Broadcast: The Bigger Picture
Political commentator Mike Indian says that Shabana Mahmood gave a very punchy performance announcing her asylum reforms, modelled on Denmark's policy. It's a bold attempt to win back votes from Reform: it will please some, yet alienate others. Mike is aghast at the degree of pitch-rolling ahead of the Budget, with a manifesto-busting increase in income tax floated, then abandoned. Reeves would have been better to have taken the unpopular decision, rather than proceed piecemeal, as seems likely. He considers if the pair will survive past the May local elections. They may be unpopular, but he doesn't feel there is a credible alternative.
Guests: Mike Indian
Published:
Original Broadcast: The Financial Outlook for Personal Investors
In the wake of Nvidia's 3rd quarter results, Russ Mould of A J Bell says that all capital expenditure booms come to an end because of over-investment. It is too soon to say how this one will turn out. He is intrigued, though, that AI tech needs energy and mined metals and yet capex in those sectors is very low. With AI, we need to see some return on the money invested. If it turns out to be the productivity boom we've been looking for, then people's perceptions towards mining and energy should change, although in both those fields it takes some time for capex to bear fruit.
Guests: Russ Mould
Published:
Original Broadcast: The Bigger Picture
Professor Tim Evans of Middlesex University says that Labour is now seeing as much rancour as the last Tory administration. The briefings against Wes Streeting appear to have increased the focus on the party's leadership. But could a more capable, charismatic leader fix the systemic crisis in a Britain where nothing seems to work when no politician is even discussing it? The crisis at the Office for National Statistics is crucial, as the Bank of England and OBR rely on it to base their decisions. Poor data undermines the fabric of our society. Tim notes that US financial services in several places are growing faster than New York, particularly in Dallas. Could New York be about to kill the golden goose?
Guests: Professor Tim Evans
Published:
Original Broadcast: The Business Of Film
James Cameron-Wilson's dislike of the Predator franchise isn't changed by the 9th in the series #1 Predator: Badlands which, with no human characters, bored him. He loved #2 The Choral, another film from the Nicholas Hytner/Alan Bennett partnership. Set in World War 1, Roger Allam and Ralph Fiennes star in a tale of a local choral society short of men. It's full of compassion, drama and humour and is timeless and uplifting. #24 Anemone is a first-time film from Ronan Day-Lewis who gets his father Daniel to return to the screen as a remote-living hermit. Also starring Sean Bean, it's self-indulgent and leaves the audience too often in the dark.
Guests: James Cameron-Wilson
Published:
Original Broadcast: Gadgets and Gizmos
Steve Caplin reports that Australian researchers have found that coffee sharply reduces heart problems. Nottingham scientists have produced a gel that can strengthen and rebuild tooth enamel. There's a voice-controlled electric blanket that kills dust mites – only on sale in China. Many UK buses made in China have a kill switch which can be operated remotely. There's advice on how to avoid scams on Black Friday, a new AI e-ink paper reader, an outdoor electric trolley, an expensive "sock" to carry your iphone and an explanation of how Anguilla is getting even richer from having the right domain name.
Guests: Steve Caplin
Published:
Original Broadcast: The Financial Outlook for Personal Investors
Neil Shah of Edison Group says that the heathcare sector has had a torrid time recently but that many of the risks that caused the rerating are vanishing. Positives include demographics, innovation and the patent cliff, which is increasing M&A activity. He mentions some good specialist investment trusts worth considering. He also feels that small caps might soon come into their own, with Budget changes possibly benefitting them. There is plenty of value there and Rockwood Strategic, with a concentrated portfolio of just 25 stocks, has a really good track record, aiming for a 15% annual RoR. It's worth looking at their well-designed website.
Guests: Neil Shah
Published:
Original Broadcast: The Business Of Film
James Cameron-Wilson laments that no film grossed more than £1m last weekend. He found #1 Bugonia, directed by The Favourite's Yorgos Lanthimos with Emma Stone to be beautiful cinema. The story, about conspiracy theorists convinced a CEO is an alien, is a tad pretentious but you have no idea where it's going. At #11 is Shelby Oaks, a low-budget horror film from film critic Chris Stuckmann. Sadly, this slim tale is full of the usual horror tropes: James couldn't remember when he'd last been so bored. No boredom in Netflix's A House of Dynamite, though. Kathryn Bigelow directs Idris Elba in a thriller about the US facing a defence emergency. If you're short of time, just watch the first 39 minutes.
Guests: James Cameron-Wilson
Published:
Original Broadcast: The Business Of Film
Steve Caplin is surprised that, despite AWS's massive internet failure, OpenAI will pay it $38bn for computing power. Robot dogs are to be used to deal with Sellafield's nuclear waste. A humanoid housekeeper apparently has to have a human operator. An Australian company has devised a way of skiing indoors in something resembling a giant hamster wheel. Tesla's Cybertrucks are losing their headlights, because mechanics used the wrong glue. China has built the world's first wind-powered underwater data centre. And a solar powered backpack has been devised for homeless people in California.
Guests: James Cameron-Wilson
Published:
Original Broadcast: The Bigger Picture
Political commentator Mike Indian says that the Chancellor's pre-Budget speech is clearly setting us up for tax rises. Labour's biggest mistake was promising not to increase income tax, VAT or National Insurance. With taxes at a high but the British state so sclerotic, people are entitled to ask, "Where is my money going?" Mike found it interesting that at the very moment when it looked as if the Chancellor might have to go over her rental income problems, that was when the Palace chose to strip Andrew Mountbatten Windsor of his titles. It was a miscalculation for it didn't bury the story. But is it appropriate for the Royals to sort this out on their own? Mike believes not.
Guests: Mike Indian
Published:
Original Broadcast: The Financial Outlook for Personal Investors
Russ Mould of A J Bell and author of the Telegraph's Questor column wonders why the Chancellor gave a speech about giving a speech, comparing it to Hugh Dalton having to resign in 1947 for letting slip something in the Budget. But the Budget will be important for affecting the 10-year gilt yield, seen as the risk-free rate. Any other investments should be priced to provide higher returns. As examples, utilities are seen as bond proxies as there's little expected capital growth, whereas discounted cash flow models are used to price tech stocks. If the 10-year yield rises, it decreases the value of equities and vice versa. Investors should always bear in mind its importance.
Guests: Russ Mould
Published:
