One millionaire has left the UK every 45Â minutesÂ
25 January 2025 by Tony Redondo One millionaire has left the UK every 45 minutes, an increase of 157% since Sir Keir Starmer’s Labour Party won the general election. In 2024, the UK has lost 10,800 millionaires overseas, more than double the number in 2023 according to figures compiled by analytics firm New World Wealth […]
The return of TrumpÂ
18 January 2025 by Tony Redondo This Monday is a US national holiday (Martin Luther King Day) and the inauguration in Washington DC of Donald Trump as the 47th POTUS (President of the United States). Currency Exchange Rates Update The Pound Sterling was the best performing G10 currency in the first half of 2024 and […]
Back to 1976Â
11 January 2025 by Tony Redondo What a first full week of the new year. The speed and extent of the moves in the financial markets may have drawn comparisons with the fallout from Liz Truss’s mini-budget in October 2022 but according to former BoE (Bank of England) interest rate setter Martin Weale and others, […]
Welcome to Two Thousand and Twenty ThriveÂ
04 January 2025 by Tony Redondo Happy New Year everyone. As this is my first blog of the year, I am determined to start on a positive note so here are several reasons to be cheerful about 2025: – – The Pound Sterling was 2024’s Second-best Performing G10 Currency. – Bank of England Governor Andrew […]
Kakistocracy
21 December 2024 by Tony Redondo For this last Gravitational Pull blog of the year, I thank the Economist magazine for their word of the year for 2024, Kakistocracy. A kakistocracy is a government run by the worst, least qualified, or most unscrupulous citizens. The word was coined as early as the seventeenth century. Currency […]
UK on recession watch
14 December 2024 by Tony Redondo Britain has been placed “on recession watch” after the economy shrank for the second month in a row in October. In the month where Labour marked its first 100 days in office, Britain’s dominant services sector showed no growth, and both the production and construction industries contracted. UK GDP […]
French (r)evolutionÂ
7 December 2024 by Tony Redondo The French government led by chief Brexit negotiator Michel Barnier fell last week after losing a vote of no confidence in parliament. France’s oldest prime minister also became its shortest-lived. With the French parliament split three ways, the chances of any decisive changes to policy in any direction are […]
Recession risk as Britain reels from Reeves’s BudgetÂ
30 November 2024 by Tony Redondo Economists have sounded the alarm over the possibility of a UK recession in 2025 after data showed Britain’s economy was reeling from the effects of Rachel Reeves’s tax-raising Budget. A closely watched survey, the PMI (Purchasing Managers Index) showed activity among the UK’s private sector companies shrank for the […]
It’s a clear thumbs downÂ
23 November 2024 by Tony Redondo We have our first economic data indicators on how Rachel Reeves’ budget impacted on the UK economy and it’s not looking good. Growth in the private sector is falling, and the verdict is a clear thumbs down. Chris Williamson, chief business economist at S&P Global Market Intelligence said “The […]
We’re all doomed!Â
16 November 2024 by Tony Redondo Just over four months into the first Labour government for nearly 15 years, some would say the immortal words of Private James Frazer “We’re doomed, we’re al’ doomed” are apt. Starmer’s Labour inherited the fastest growing economy in the G7 in July. We now learn that the UK economy […]