Mood – Getting over the hump, with escaped camels on the loose in Madrid (4/10)

Published on 09-11-2021 00:00:00

November 091121


We’re ready for a tumble, as America’s Federal Reserve warns that a surge in risky asset prices has made them increasingly susceptible. With the S&P 500 on its longest winning streak since 1997 and bitcoin hitting a new high, Morgan Stanley says there’s increased peril from a stock market bubble. Some other dangers are already grave, with COVID-19 calculated to have stolen 28 million years of life from 31 countries last year and the pandemic seeing 26,000 tonnes of PPE pollute our oceans. This rubbish bin from Myrtle Beach has come all the way across the Atlantic to wash ashore in Ireland.



Some are taking profits, with Inmarsat attracting a £5.4bn takeover and Succession Wealth put up for sale for £400m. Elon Musk’s brother Kimbal has sold $110m of Tesla shares. Others are finding ways around situations, with China’s livestream shopping soaring to $171bn of annual sales from just $3bn in 2017, Primark plotting major expansion and Rolls-Royce securing £450m to fund mini nuclear reactors. JP Morgan believes there are Brexit bargains to be had in Britain. The FTSE All-Share is not panicking.



As Cadillac drops hundreds of dealers who aren’t ready for electric cars, a massive carbon-collecting machine has been built in Switzerland. Watch EdisonTV’s interview with the CFO of waste-to-products group Renewi, whose record performance is being driven by recyclates. This Scottish inventor is ‘drilling the sky’ for energy, while nightclubs in his homeland are sidestepping vaccine passport rules by putting furniture on dance floors. A chronic shortage of Walkers has provided an opportunity for crisps arbitrage, with packets selling for £8 on eBay. As at least one-quarter of British Conservative MPS are found to have second jobs, Malawi has elected its first person with albinism to parliament.


Until things do go south, we can celebrate what we have. Bionic gloves have given this piano maestro his hands back. We now know why gifted dogs tilt their heads. And life was less of a hump for these camels while they wandered around Madrid after escaping from a circus.




Kelly Perry, Edison director and head of ESG

The main attraction kick-starting week two of COP26 was Barack Obama’s address. His remarks chimed with the general sentiment of the conference – urgency. Commitments to reducing emissions can no longer have long lead times as there are nations globally feeling the effects of climate change today.

This was reinforced by a panel this morning in which a number of leaders from low-lying island nations spoke about the imminent threat to life they are experiencing and how wealthier nations need to play their part to correct what is largely ‘their mess’.

As the second week continues, we can expect individual nations to begin to explain how they intend to achieve climate targets, for example the UK’s proposed carbon border tax, which looks set to be debated in Parliament but is far from being implemented. What is apparent is that we need to hear more concrete proposals and solutions if the pledges of last week are going to be kept.


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