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Harry and Meghan become partners at ethical investment firm – BBC News

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The Duke and Duchess of Sussex have entered the world of finance, becoming partners at a sustainable investment firm in New York City.

Prince Harry and Meghan have joined Ethic, which advises wealthy clients on how to invest their money more sustainably, prioritising issues like climate change and human rights.

The couple had already invested in Ethic, which manages $1.3bn of assets.

The firm said the royals would help it “reach many millions around the globe”.

In an exclusive interview with the New York Times, former actor Meghan said: “From the world I come from, you don’t talk about investing, right? You don’t have the luxury to invest. That sounds so fancy.”

But she added: “My husband has been saying for years, ‘Gosh, don’t you wish there was a place where, if your values were aligned like this, you could put your money to that same sort of thing?'”

Harry told the newspaper he hoped the couple could encourage more – particularly young – people to invest their money sustainably.

Sustainable investment has grown in popularity in the last decade, thanks largely to millennials. In the US, new investments in ethical funds more than doubled to $51bn between 2019 and 2020.

“You already have the younger generation voting with their dollars and their pounds, you know, all over the world, when it comes to brands they select and choose from.”

It is the couple’s latest corporate partnership since stepping back as working royals and relocating to the US. As they try to become financially independent, they have signed production deals with Spotify and Netflix .

Harry also produced a documentary series on mental health for Apple TV+ and is writing a memoir.

“[Harry and Meghan] share a lot of values with us, and we suspect, with many of you as well. That’s why we’re so excited that they’re joining us as impact partners,” Ethic said in a statement.

“They’re deeply committed to helping address the defining issues of our time – such as climate, gender equity, health, racial justice, human rights, and strengthening democracy – and understand that these issues are inherently interconnected.”

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Stocks gain as earnings provide some optimism; 10-yr yield climbs

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Stock indexes around the world jumped on Tuesday as U.S. technology shares extended recent gains and earnings reports were upbeat, while the 10-year U.S. Treasury yield rose to its highest in more than four months.

The U.S. dollar was lower on the day as other currencies, including sterling, were supported by investor expectations that interest rates could be increased sooner than some had forecast.

On Wall Street, the technology sector boosted the S&P 500 the most, while recent stronger-than-expected results have bumped up the forecast for S&P 500 earnings for the third quarter.

Investors remain worried, however, about the impact that higher costs, supply disruptions and labor shortages are having on companies.

“The key for the market to going up from here will not be higher multiples, it will have to be higher earnings. That’s why it’s so important to pay attention to what those profit margins do going forward and what the trajectory of GDP looks like,” said Eric Marshall, portfolio manager at Hodges Funds.

Among U.S. companies reporting results on Tuesday, insurer Travelers Cos Inc beat estimates for third-quarter profit and its shares rose. Johnson & Johnson raised its 2021 adjusted profit forecast and its shares jumped 2.3%.

The Dow Jones Industrial Average rose 198.7 points, or 0.56%, to 35,457.31, the S&P 500 gained 33.17 points, or 0.74%, to 4,519.63 and the Nasdaq Composite added 107.28 points, or 0.71%, to 15,129.09.

The pan-European STOXX 600 index rose 0.33% and MSCI’s gauge of stocks across the globe < .MIWD00000PUS> gained 0.73%.

The MSCI index reached its highest in about a month.

 

MSCI World Index https://fingfx.thomsonreuters.com/gfx/mkt/zgvomrjmavd/world%20stocks%20oct%2019.PNG

 

The dollar index against a basket of other currencies was last down 0.22% on the day at 93.73, after earlier dropping to 93.50, the lowest since Sept. 28.

The euro gained 0.25% to $1.1640. Currencies, including sterling and the New Zealand dollar, are benefiting from rising interest rate increase expectations.

Bitcoin last rose 3.49% to $64,201.08.

In the U.S. Treasury market, the yield curve widened, reversing the recent trend.

In afternoon U.S. trading, U.S. 10-year yields were last up nearly six basis points at 1.6407%. The yield hit a 4-1/2-month peak of 1.6440%.

The U.S. 5-year yield, which has been on a tear the last two weeks, was last down at 1.1586%.

Oil prices climbed and were near multi-year highs as an energy supply crunch continued across the globe. Brent crude rose 75 cents to settle at $85.08 a barrel. U.S. West Texas Intermediate (WTI) futures rose 52 cents to settle at $82.96.

In other commodities, U.S. gold futures gained 0.15% to $1,769.70 an ounce.

 

(Additional reporting by Tommy Wilkes in London, Shreyashi Sanyal and Devik Jain in Bengaluru, Karen Brettell, Stephanie Kelly and Sinead Carew in New York, and Saikat Chatterjee; Editing by Jason Neely, John Stonestreet, Steve Orlofsky and Cynthia Osterman)

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In highly uneven recovery, global investment flows rebound – UN News

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That’s according to the latest Investment Trends Monitor, released this Tuesday by the United Nations Conference on Trade and Development (UNCTAD).  

It shows the increase in the first two quarters in FDI, recovered more than 70 per cent of the losses stemming from the COVID-19 crisis in 2020. 

For the UNCTAD‘s director of investment and enterprise, James Zhan, the good news “masks the growing divergence in FDI flows between developed and developing economies, as well as the lag in a broad-based recovery of the greenfield investment in productive capacity.” 

Mr. Zhan also warns that “uncertainties remain abundant”. 

Global outlook  

The duration of the health crisis, the pace of vaccinations, especially in developing countries, and the speed of implementation of infrastructure stimulus, remain important factors of uncertainty. 

Other important risk factors are labour and supply chain bottlenecks, rising energy prices and inflationary pressures.  

Despite these challenges, the global outlook for the full year has improved from earlier projections. 

The growth in the next few months should be more muted than the in the first half of the year, but it should still take FDI flows to beyond pre-pandemic levels. 

Uneven recovery 

Between January and June, developed economies saw the biggest rise, with FDI reaching an estimated $424 billion, more than three times the exceptionally low level in 2020. 

In Europe, several large economies saw sizeable increases, on average remaining only 5 per cent below pre-pandemic quarterly levels.  

Inflows in the United States were up by 90 per cent, driven by a surge in cross-border mergers and acquisitions. 

FDI flows in developing economies also increased significantly, totalling $427 billion in the first half of the year.  

There was a growth acceleration in east and southeast Asia (25 per cent), a recovery to near pre-pandemic levels in Central and South America, and upticks in several other regional economies across Africa and West and Central Asia. 

Of the total recovery increase, 75 per cent was recorded in developed economies. 

High-income countries more than doubled quarterly FDI inflows from rock bottom 2020 levels, middle-income economies saw a 30 per cent increase, and low-income economies a further nine per cent decline.  

Mixed picture for investors 

Growing investor confidence is most apparent in infrastructure, boosted by favourable long-term financing conditions, recovery stimulus packages and overseas investment programmes. 

International project finance deals were up 32 per cent in number, and 74 per cent in value terms. Sizeable increases happened in most high-income regions and in Asia and South America. 

In contrast, UNCTAD says investor confidence in industry and value chains remains shaky. Greenfield investment project announcements continued their downward path, decreasing 13 per cent in number and 11 per cent in value until the end of September.  

Agenda 2030 

After suffering double-digit declines across almost all sectors, the recovery in areas relevant to Sustainable Development Goals (SDGs) in developing countries remains fragile. 

The combined value of announced greenfield investments and project finance deals rose by 60 per cent, but mostly because of a small number of very large deals in the power sector.  

International project finance in renewable energy and utilities continues to be the strongest growth sector. 

The investment in projects relevant to the SDGs in least developed countries continued to decline precipitously. New greenfield project announcements fell by 51 per cent, and infrastructure project finance deals by 47 per cent. Both had already fallen 28 per cent last year.

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Simon Kronenfeld: Best Performing Stocks on TSX in 2021

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Simon Kronenfeld is well-experienced in analyzing stocks across North American markets. Recently he has turned his attention to the Toronto Stock Exchange in particular. Although less liquid than US exchanges, there remains strong potential for reliable returns if you know your way around the TSX. Spotting the stocks with the potential to survive and thrive in changing times will be a key skill in 2021.

Simon Kronenfeld dwells upon three companies that are performing well on the TSX in 2021.

  • Goeasy Ltd: Goeasy’s success is a reflection of the wider financial sector in general. The company primarily offers loans for home appliances and furniture through their easyHome and easyFinancial divisions.

The company has issued around $5 billion in loans to date, and they continue to help Canadian borrower’s build their credit scores, with 60% of customers increasing their credit scores within a year. Despite the pandemic, the company’s stocks have continued to deliver great returns over the last year. In fact, its share prices have risen 210% since August 2020. Considering the wider economy, Goeasy is looking like a sound investment for the future.

  • TFI International: TFI International had some negative news at the start of the year as its stock prices slipped, but they have bounced back to triple the value of that period. These temporary dips are not a major obstacle for smart companies with the right plan.

TFI International is a logistics company with over 500 access points across North America. This company covers all the major sectors of the industry, including Package and Courier, Truckload, and Logistics, and provides more than 31,000 jobs.

The company recently acquired UPS’s Less-Than-Truckload freight service, which has led to a major transformation in their revenue distribution. Now the company predicts 75% of their revenue to come from the US market, where there is more growth potential. Simon expects to see long-term growth and value from this one, despite the stock price boost it has already experienced.

The company has made major improvements to its efficiency following the acquisition, putting it on the right path to make further inroads into the US market.

  • Shopify: Shopify is the most widely-used e-commerce marketing platform, used by small businesses and major operations alike to create online stores and sell products, thanks to its streamlined design process and in-built payment platform.

Business was already booming for Shopify before the pandemic, and the shift towards online shopping in the last year has only served to compound its successes. As a result, it has experience growth of 32% in the last year, and Simon expects this trend to continue.

Simon Kronenfeld is not only a businessman, he is also a business expert in today’s world. He founded the company Electronic Liquidators Inc. in 1999 and paving the way for many opportunities as he sold it and made his way into real estate. Now after 2 decades, Simon Kronenfeld is a real estate mastermind who plans to build luxury housing by the beach. If we think about what the driving force behind Simon Kronenfeld’s success has been, we can say that it is his self-motivation to do better.

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