As the Liberal Democrats overturn an 18,000 Conservative majority next door to Boris’s constituency, we’re raising an eyebrow as other matters depart from recent norms. UK retail sales fell 1.4% in May as consumers switched from buying food to eating out again at restaurants, while Brexit may be to blame for British food and drink exports to the EU dropping by £2bn in the first quarter of this year. Tesco’s UK sales growth has slowed against a tough comparative period. There may be a shortage of pigs in blankets this Christmas. As Edison’s chief investment strategist Alastair George argues in his latest Global Perspectives note that sitting still can be hard to do, the FTSE All-Share is trading lower.
SPLASHING THE CASH
We’re taking the temperature of these changing times by watching flows of money, with TikTok’s owner’s gross profits jumping 93% to $19bn, JP Morgan spending £700m on British wealth management ‘robo-adviser’ Nutmeg and a nuclear fusion start-up backed by Jeff Bezos investing $400m in Oxfordshire. Someone has made ‘scary monster’ profits by buying a David Bowie painting for $4 and selling for $18,000. Car dealership group Inchcape is upping profit guidance. After Edison’s successful three-day Open House event on the future of transport, research and content director Neil Shah sums up with five key takeaways.
USING OUR INGENUITY
Ways around problems are being found. Britain’s COVID-19 rules may be relaxed to stop the Euro 2020 final being moved from Wembley to Budapest. The Netherlands is giving away soused herrings to encourage COVID-19 vaccine take-up. Victoria’s Secret is ditching its ‘angels’ for ‘accomplished women’ figureheads. ‘Snakebots’ can now burrow underground so that people never see them.
As campaigners lobby for the feelings of octopuses and lobsters to be recognised, we now know that coelacanth fish have five-year pregnancies and can live to be 100. This 80-year-old Frenchman won’t go anywhere without Blanchon, his white pigeon. And this YouTuber has bet a physicist $10,000 that he can travel faster than wind.