Original Broadcast: The Bigger Picture
Political commentator Mike Indian says that Reeves had to satisfy both Labour MPs and the bond markets and, in doing so, has proven herself a better political operator than given credit for. But the tussle with the OBR is unfortunate. Mike feels its forecast horizon is too distant, though it must offer a robust challenge to government. "Calamity" Lammy's move to Justice has been nothing short of a disaster, topped by changing Levinson's recommendations on trial by jury. Mike doesn't think he will survive the year. And he finds the timing of the racist accusations against the schoolboy Farage suspect, smacking of cynical media opportunism.
Guests: Mike Indian
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Original Broadcast: The Financial Outlook for Personal Investors
Russ Mould of A J Bell says that Rachel Reeves' Budget was delivered with an eye on the bond markets. Fortunately for her, the 10-year gilt has been steady since, even if it is higher than when Labour took over and has moved in a different direction to BoE interest rates. All equity investors have an interest in gilt yields, whether they know it or not. Russ reckons this year could be the UK's best performance since 2009. Derided as being dull for being heavy with banks, miners and emerging markets, those have all been good performers, while the once-popular dividend compounders have seen only 1 in the top 20 risers. They got ahead of a sensible value.
Guests: Russ Mould
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Original Broadcast: The Financial Outlook for Personal Investors
Professor Tim Evans of Middlesex University thinks that Rachel Reeves' highly-political Budget could have bought her and the Prime Minister some time, calmed the markets and even reunited the Labour Party. But what will be the unintended consequences? There will be a lot of deferred pain through tax rises. It could create weaker productivity, risk a two-speed economy, dampen consumer spending and investment, persuade more wealthy and talented people to emigrate, depressing tax revenue and it may yet prove inflationary. It will take some time before we get a clearer idea what the consequences will be.
Guests: Professor Tim Evans
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Original Broadcast: The Business Of Film
James Cameron-Wilson says #1 Wicked: For Good's £18.9m take has boosted box office 123% but at the expense of all other movies. However, James enjoyed it muich more than the first half. It has gobsmacking costumes and sets, great songs and is surprisingly touching and funny. It is clearly set for Oscar attention. He thought Russell Crowe superb as the bombastic Gõring in #4 Nuremberg. With a great supporting cast, it is long but holds the attention throughout. And he admires Tom Hardy playing both Kray twins in the 10th anniversary 4K UHD release of the very violent Legend. It comes with lots of great extras.
Guests: James Cameron-Wilson
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Original Broadcast: Gadgets and Gizmos
Steve Caplin says the new location feature in X shows that thousands of pro-Trump accounts aren't US-based. The Grok chatbot has been bigging up Elon Musk. Avoid cheap Fire Sticks that offer free streaming services: they can steal your bank details and identity. Voyager 1 is now a light day from Earth. Plans are afoot to launch things into space with a 6-mile-long space gun. The 200-year-old Stirling engine might finally have a use – in the desert. There's progress in getting drinking water from the air. And it seems that the best soldiers for modern warfare are those who have spent many hours playing video games.
Guests: Steve Caplin
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Original Broadcast: The Financial Outlook for Personal Investors
Neil Shah of Edison Group says markets were relieved that the Budget did nothing to undermine confidence. Banks reacted positively, as did Rank, along with wealth managers and financial services, as it will be increasingly punitive to save or invest outside a tax wrapper. High end housebuilders suffered and the tax increases won't help the consumer sector. For somebody looking for exposure to precious and strategic metals, Neil highlights the closed-end Baker Steel Resources Trust. It has increased net asset value 40% in a year. It trades on a 35% discount, as do many in the sector, but Neil feels over the long term this should narrow. Info on Edison website.
Guests: Neil Shah
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Original Broadcast: The Business Of Film
James Cameron-Wilson likes #1 Now You See Me: Now You Don't as much as the first in the trilogy. Jesse Eisenberg and Woody Harrelson are joined by younger actors as magicians mounting a heist. He particularly cares for the details and the allusions. #2 is Edgar Wright's take on The Running Man with Glen Powell. But despite the big budget, the main character is unsympathetic, the plot makes little sense and the product placement is appallingly blatant. As a fan of French horror, he likes #27 Alpha from Julia Ducournau. It deserves two viewings before the pieces will fall into place.
Guests: James Cameron-Wilson
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Original Broadcast: Gadgets and Gizmos
Steve Caplin discusses the way the University of Vienna got details of 3.5 billion people from Whatsapp in the largest data leak in history. He was mystified by the in-built questions for Laura, Skoda's in-car AI. More worrying is the misleading financial advice AI has been giving about ISAs and travel insurance. Among gadgets Steve does not recommend are a tiny Kodak camera for a keychain, a Swiss Army knife for baristas and an acoustic camera that detects the source of a sound. And, disconcertingly, he reports that one in five teens apparently find it easier to talk to chatbots than they do to people.
Guests: James Cameron-Wilson
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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
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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
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