THE MOOD: ISOLATED AND FEARFUL

Stuck in a continuing impasse with French border controls and UK flight bans due to the new COVID-19 strain, we feel alone and afraid today. Britain is said to face a ‘human disaster’ unless there’s a full New Year lockdown. Although monkfish prices are tumbling, supermarkets predict lettuce and broccoli shortages. The pandemic has also now reached Antarctica, while Taiwan has its first local case since April.

We’re all too aware of the damage already wrought. UK borrowing hit record levels in November. More than 40,000 retailers were in dire straits even before the latest shopping restrictions, while 840,000 private tenants could be behind on their rent. Ministers fear Marcus Rashford will complete a hat trick of victories as he targets the removal of Universal Credit uplifts from six million poor families. Damage limitation is seeing Vodafone pay up to $2.6bn to end a German legal battle, but there’s seemingly little Airbus can do to save $5bn in aircraft orders.

Calmness and confidence can still be found, however. Britain’s third-quarter economic recovery was quicker than expected. There’s enough faith in petrol stations operator Applegreen to support a €718m takeover, Fiat Chrysler’s merger with Peugeot’s owner has got the EU go-ahead and Apple is building a self-driving car. ConocoPhillips has dug deep to find more oil. Edison’s latest ESG Edge analysis is timely as social impact and renewable infrastructure investment trusts float on the London Stock Exchange. In America, $600 stimulus cheques are about to be posted, while movie studio MGM is planning a sale.

Innovation is saving the day in New Zealand, with a village turning off street lights to stop bird crashes. French dressing is to be freed from rules governing its identity. And a new type of soy sauce is being made from crickets, with a tasty 480 bugs per bottle.