Worldwide Financial Planning

Uber has raised $12bn in funding and is valued at $69bn despite having made substantial losses throughout its existence.

It is one of a number of tech-based companies which have been hugely popular with private capital searching for the next big thing in a period of sluggish GDP growth.

A passive fund operates where your pensions/ISAs etc are simply placed into a fund that effectively tracks an index such as the FTSE All-Share, NASDAQ etc.

As it rises, your money rises with it, and vice versa. Tracker funds and Exchange Traded Funds (ETF) are the two most popular passive funds.

A few months ago, we noted that there were signs the British economy was starting to weaken, and this week brought the most worrying data yet: retail spending, the engine of recent growth, is looking decidedly ropey.

Faced now with a coalition, minority government or a new election, markets will not be happy.

Naturally sterling will plummet immediately because of the uncertainty of the government and the FTSE100 will respond by increasing its value due to the weakened sterling as over 70% of its earnings come from abroad, so when its repatriated the earnings look greater.

UK polls are notoriously poor with an average miss of somewhere in the region of four percent therefore, a hung parliament, a large Tory majority or pretty much no change were all equally likely.

Without a majority Mrs May finds herself in a similar position to John Major with the only way to govern now through compromise.

There has never, in my opinion, been a bigger election than this.

Personally I see it as one of the first I can remember where we are looking at a stall or halt on neo liberalism, or at least the bad parts of it.

The impact on the economy could be considerable.