Global stock markets rallied to an all-time high, bitcoin has been massively outperforming gold as a hedge and women across the UK could save £46m a year once tampon tax is scrapped
Weekly newsletter for women who want to be smart about money: financial news, personal finance and investing
Welcome to our #47 weekly newsletter in 2020.
Every week we curate key content and apply a female-lens so you can stay informed and inspired about money and investing.
Stay in the know.
Keep on top of global economic, financial and investing news and trends. And read about what this means for you and your money in 2020 during Covid-19 and beyond.
“For women who are taking control of their financial future”
-Jana Hlistova
From The Purse…
Editorial from the Founder
Global stock markets rallied to an all-time high this week, as investors anticipate a smooth presidential transition in the US and effective vaccine rollouts in the coming months.
Bitcoin plunged 19% this week, its biggest slump since mid-March (after reaching a high of $19,389- close to its all-time high since 2017). Investors were concerned over the prospect of tighter crypto rules in the U.S. and profit-taking after a big rally.
Bitcoin has been massively outperforming gold as a hedge against central banks’ ongoing ‘money printing’.
And according to crypto investor, Anthony Pompliano, bitcoin could surge to $100,000 by the end of 2021.
UK Chancellor, Rishi Sunak has said the government will borrow a peacetime record of almost £400bn in 2020.
It was announced Monday that the Oxford AstraZeneca’s Covid vaccine had up to 90% efficacy. However, questions regarding the trial results meant that AstraZeneca shares declined 8% this week.
Women across the UK could save £46m a year once tampon tax is scrapped.
94% of men and 93% of women working in financial services state their job can be done via flexible working.
And we are tracking US social network, TheLi.st which has been sold to New Power Media, headed by Ann Shoket, the author and one-time “Seventeen” magazine editor in chief.
Stay safe, look after yourselves and your loved ones.
I hope you enjoy this week’s newsletter. Until next week,
Jana
The Big Picture
Global markets and economy news, trends and indicators
Global stock markets have rallied to new all-time highs
Investors anticipate a smooth presidential transition in the US, and effective vaccine rollouts in the coming months.
Wall Street hit record highs, with the Dow Jones industrial average reaching the 30,000 peak for the first time ever.
Bitcoin plunged 19% ; its biggest slump since mid-March (after reaching $19,389 close to its ATH in 2017)
Investors were concerned over the prospect of tighter crypto rules in the U.S. and profit-taking after a big rally.
The chancellor said the UK faced an “economic emergency”.
UK GDP is expected to collapse by 11.3% this year, the worst since 1709.
Public sector net borrowing will be £394bn this year is forecast to remain about £100bn until 2026.
UK sliding into a double-dip recession but an early vaccine will fuel growth
Activity dropped by the most since May according to the closely-monitored IHS Markit/CIPs purchasing managers index (but remained higher than activity recorded in April).
However, news of an early vaccine could lead to a faster growth rate than previously expected next year.
Future Focus
Keeping an eye on key predictions, innovations and what’s going to impact the future
Bitcoin has been massively outperforming Gold as a hedge against central banks’ ongoing ‘money printing’
Gold/Bitcoin ratio has dropped to the lowest since Dec 2017.
Bitcoin could surge to $100,000 by the end of 2021
According to the crypto investor Anthony Pompliano, demand for the coin was rapidly outpacing supply which was driving up the bitcoin price.
Pompliano, also said that the macroeconomic environment right now was ‘rocket fuel’ for bitcoin.
Bitcoin has surged by roughly 160% this year as more major investors acknowledge the cryptocurrency's legitimacy as a store of value.
Companies: winners & losers
Companies to watch and share price movements
AstraZeneca’s vaccine looks like it is headed for an additional global trial
The pharmaceutical company is trying to clear up uncertainty and confusion surrounding favourable results in its current study.
It was announced Monday that the Oxford AstraZeneca’s Covid vaccine had up to 90% efficacy.
AstraZeneca shares declined 8% this week amid questions regarding trial results.
Your Money
Insights, trends and what this means for you and your purse
Women across the UK could save £46m a year once tampon tax is scrapped
The average woman in the UK spends £55.80 a year on menstrual products, with the current 5% tax equating to about £2.79.
Approximately 16m women in the UK fall within the menstruation age bracket and most of whom will be paying this £2.79 tax.
Have You Seen This?
Female-focused news, reports, research, campaigns
New research commissioned by Women in Banking & Finance (WIBF), shows that 90%+ of the workforce in financial services state their job can be done flexibly (in terms of location) without impacting their performance.
This compares to 54% and 75% in responses of past employees.
The survey also found that women are significantly more likely to see barriers in their careers than men (79% versus 58%) and that women and men in this study do not differ in ambition and are leaning in equally for opportunities.
Know this: according to Dr Grace Lordan, Associate Professor in Behavioural Science, LSE": “A silver lining of the pandemic is that it has directly caused a re-organisation of work which can benefit women. Right now, women who avail of flexible working often suffer the knock-on effects that they are considered less career focused. The idea that flexible working can be productivity enhancing for the firm is often lost. If we get the re-organisation of work right the new status quo might move us a way from a false narrative that presenteeism equals added value, to the benefit of women’s progression and retention.”
What We’re Tracking
Female-focused products or services, start-ups and businesses led by women, investment, crowdfunding campaigns and research.
TheLi.st: (US)-founded by lawyer and media blogger Rachel Sklar and Glynnis MacNicol, is 10-year-old social network that has been linking successful women with up and comers.
The social network has been sold to New Power Media, headed by Ann Shoket, the author and one-time “Seventeen” magazine editor in chief.
TheLi.st has an exclusive membership with only 500 names — but it is an impressive and diverse list.
Coffee Break? Read This
New equalities minister attacked ‘modern feminism’ and #MeToo
Ellen Pao explains why she never felt imposter syndrome as Reddit CEO
Dolly Parton helped to fund 95% effective Moderna Covid-19 vaccine that could end the pandemic
We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and @janicka.
The Purse Ltd. Copyright 2020 & All Rights Reserved.