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Dozens arrested as message network dismantled

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Dozens arrested as message network dismantled
An Garda Síochána Stacks of 50 and 100 euro notes sit in a row on a dark-coloured counter topAn Garda Síochána

A large amount of cash was seized

More than 50 people have been arrested as part of a major international investigation which dismantled an encrypted communication platform.

The platform, known as Ghost, was used to facilitate a wide range of criminal activities, including large-scale drug trafficking, money laundering, instances of extreme violence and other forms of serious and organised crime.

Europol and Eurojust, together with international law enforcement, worked together to carry out the operation.

Over the course of the investigation, 51 suspects were arrested, including 38 in Australia, 11 in Ireland, one in Canada and one in Italy belonging to the Italian Sacra Corona Unita mafia group.

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Europol also said a number of threats to life were prevented and a drug laboratory in Australia was dismantled.

Weapons, drugs and over €1m (£842,270) in cash were also seized globally so far, the body added.

Ireland’s day of action

In Ireland, Gardaí (Irish police) seized a total of €15.2m (£12.8m) worth of cocaine and 42 suspected encrypted devices.

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They had been investigating four identified organised crime groups and support networks based in the Dublin and eastern region.

On Monday, more than 300 gardaí searched 27 premises.

Representatives from Europol, Australian Federal Police and the US Federal Bureau of Investigation were also in Ireland in support of the ongoing operation.

During these searches, investigating gardaí seized:

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  • €300,000 (£252,795) in cash
  • Two cryptocurrency keys (contents under investigation)
  • 42 suspected Ghost ECC encrypted devices
  • 126 other mobile devices
  • 27 laptops
  • 200 plus SIM cards
  • Six Rolex watches
  • One 2021 Range Rover Jeep

They also intercepted an articulated truck in the south-east of the country on Monday.

Following a search of the truck, gardaí recovered 100kg of cocaine in a deep concealment.

This cocaine, subject to analysis by Forensic Science Ireland, is valued at €7m (£5.8m).

Five men, aged in their 30s, 40s and 50s, have been arrested in relation to this part of the operation.

Getty Images A close up of a person's hands holding a phone. Getty Images

Encrypted devices were among the items seized by police

What is the Ghost platform?

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In a statement on Wednesday, An Garda Síochána said the Ghost platform had gained traction among criminal organisations due to its advanced security features.

Users could purchase the solution without any personal information.

The solution used three encryption standards and offered the option to send a message followed by a specific code that results in self-destruction of all messages on the target phone.

This allowed criminal networks to communicate securely, evade detection, counter forensic measures, and coordinate their illegal operations across borders.

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Worldwide, several thousands of individuals used the tool, which has its own infrastructure and applications with a network of resellers based in several countries.

On a global scale, around a thousand messages are being exchanged each day via Ghost.

As servers were found in France and Iceland, the company owners were located in Australia, and financial assets were located in the United States, a global operation against the phone service started.

Further arrests to the 51 already made are anticipated in the global investigation.

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Europol Two phones in plastic bags on a table Europol

‘They know no boundaries’

Europol’s executive director Catherine De Bolle said that the organisation has “made it clear that no matter how hidden criminal networks think they are, they can’t evade our collective effort”.

“Law enforcement from nine countries, together with Europol, have dismantled a tool which was a lifeline for serious organised crime,” Ms De Bolle said.

Speaking at Europol Headquarters in The Hague, An Garda Síochána Assistant Commissioner Justin Kelly, said his officers’ involvement “demonstrates Ireland’s ongoing commitment and capacity to operate at an international level targeting transnational organised crime groups which cause so much harm and misery not just in Ireland but in countries across the world”.

“Transnational organised crime group networks know no boundaries and do not respect any international borders or rules of law,” he said.

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“It takes a network to defeat a network and today’s announcement is clear indication of the power of law enforcement networks in degrading and dismantling the activities of these criminal networks.”

When asked, on BBC Radio Ulster’s Evening Extra programme, about how Northern Ireland may be affected by this Justin Kelly said ”So far our investigations have only identified four criminal organisations all of which are based between Dublin and the east coast of Ireland and the network facilitators are all based in the Dublin area.”

“The fact such devices have not surfaced in the UK or NI is something to be thankful for, as there is no doubt they would have appeared very shortly,” he added.

In terms of these crimes extending into NI and the rest of the UK, he said the activity would “definitely” impact NI.

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”People involved in drug trafficking don’t recognise any borders…drug trafficking does occur on an all-island basis. Drugs will be imported through NI for the southern market just as much as they’re imported through Ireland for the NI market.”

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What to look for on US election night

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Election day is on Tuesday but Americans might have to wait longer to learn who their next president will be.

The timing of a Kamala Harris or Donald Trump victory depends on two factors: how fast states count their ballots and how close the results are. Each state has its own rules for processing and counting ballots.

As polls close across the country — first on the east coast — and results start to come in, news agencies and broadcasters will project the winner of each state and the District of Columbia at the presidential level, as well as races for the US Senate and House of Representatives. The Financial Times will report results based on calls from the Associated Press.

The most important number of election night is 270, the electoral college votes needed to clinch the presidency. Expect a long night on Tuesday.

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Will we know the winner on the night?

This is unlikely.

Polling suggests the results in battleground states will be close, meaning it could take days for a winner to be declared. Some states are also slower to count ballots than others.

An additional complication could be any legal challenges to a state’s results, which could drag out the declaration of a winner. The Trump campaign and its allies have already started to cast doubt on the integrity of the election.

The Harris campaign has predicted Trump will declare victory before the presidential race has been called.

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The first polls close on election day at 6pm eastern time in some counties in Indiana and Kentucky, with the last polls closing at midnight ET in Alaska.

If swing states move quickly to count and the vote is not as close as polls predict, the result could be clear on Tuesday night. However, electoral experts and state officials predicted it was more likely to come on Wednesday morning. In some cases it can take days or even weeks to finalise results as absentee and postal ballots are counted, and occasionally recounted.

It is also likely there will be a wait to know which party will control each of the two chambers of Congress, the Senate and the House of Representatives.

There are four extremely competitive Senate races and 22 toss-up House races, according to the non-partisan Cook Political Report. The Senate map “very likely portents a [Republican] majority” while the battle for the House “remains as close as it’s ever been” wrote CPR’s Erin Covey.

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Which states are key to victory?

The most important states to watch are the seven battlegrounds: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin, which have a combined 93 electoral college votes.

Not every swing state needs to be called for a president to be named. Should Harris or Trump win the so-called blue wall states — Michigan, Pennsylvania and Wisconsin — and North Carolina overnight, for example, that would form a relatively quick path to 270.

North Carolina could be the first battleground to be called since most people vote in person and postal ballots must arrive by election day. A wild card issue this year is the impact of Hurricane Helene, which hit the state hard.

Georgia also counts quickly, but its razor-thin margin of 11,779 in 2020 led to a hand tally and the state was not called for Biden until more than two weeks after the election.

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Strength in the blue wall could indicate a candidate is doing well among working-class voters, while a win in Georgia could bode well for having won over Black voters.

Pennsylvania is slow because it cannot start counting postal ballots until election day. Wisconsin also cannot start counting postal ballots until election day, but officials expect a result on Wednesday morning since the tally must continue through the night. Michigan could move more quickly than before since more postal ballots can be processed before election day.

Arizona and Nevada are likely to be the slowest with results. Arizona officials have said it could take 10-13 days to report full results. In Nevada, a lot of people vote by post.

What happened in 2020?

Joe Biden was not declared the victor until Saturday, November 7 2020, four days after election day. AP made the call at 11.26am ET.

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The AP began calling races from 7pm on election day starting with Kentucky. Races in battleground states took much longer — with the AP calling North Carolina 10 days after election day and Georgia 16 days later.

Pennsylvania was the state that put Biden over the top, while Georgia and North Carolina were too close to call at that stage. Overall, Biden won six of the states considered battlegrounds this year, with Trump taking only North Carolina.

While Congress was certifying the results of the election on January 6 2021, a mob of violent Trump supporters attacked the US Capitol in an effort to halt the proceedings and overturn Biden’s victory. Democrats cite the events as evidence that Trump threatens democracy if he is re-elected.

In 2016, the AP named Trump the winner over Democrat Hillary Clinton at 2.29am ET on Wednesday, November 9, the day after the election. Wisconsin was the state that put Trump over the top, while Arizona and Michigan were still too close to call.

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What is different this time?

The biggest difference is that there is no pandemic.

In 2020, there was a surge in early voting as people tried to avoid catching Covid-19 at the polls on election day.

This complicated the tallying effort for state election authorities because many were not used to handling large volumes of postal ballots, which take longer to tabulate because they need to be opened and verified by election workers. Some states also had social-distancing rules in place for election officials that also slowed counting.

So far, fewer people have voted early — both in person and by post — than in 2020, meaning state election officials could have a more manageable flow of early ballots to process, therefore speeding up results.

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Trade Body 2.0 – Does the platform sector need a new voice?

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Trade Body 2.0 - Does the platform sector need a new voice?
Shutterstock / Billion Photos

The platform sector is a diverse and fragmented industry in need of unification and greater collaboration.

In the past, many attempts have been made — unsuccessfully — to bring providers together under an umbrella group. The setbacks have always been attributed to the competing interests of platforms and, until now, there has been no formal trade group to represent the community.

The sector’s views have instead been represented by various organisations, including the Association of British Insurers (ABI), the UK Platform Group (UKPG) and The Investing and Saving Alliance (TISA).

However, all that is about to change with the formation of the Platforms Association.

People have been asking, ‘Why wasn’t this done five years ago?’

The association, which was launched in late September on the eve of the Schroders UK Platform Awards, wants to be the representative voice of the multibillion-pound platform sector.

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It claims the industry has “lacked specific sectoral representation and co-ordination” and “needs to take greater control over influencing regulatory issues and shaping growth”.

The trade body will act as a conduit for the sector to engage with regulators and policymakers, as well as co-ordinate and promote industry interests. Several leading platforms, including Abrdn, Aegon, Fidelity, Quilter, Seccl and SS&C, have already signed up.

The Platforms Association will be chaired by David Moffat, a senior director at SS&C who has decades of platform experience, and headed by industry veteran Keith Phillips, a former executive director at TheCityUK, the British Bankers’ Association and the Investment Association.

The pair will be supported by a board made up of leading industry experts.

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Organisational structure

Membership of the association is open to UK- and Europe-regulated platforms whose primary activities are the settlement, custody and safekeeping of retail investor assets, as well as sub-custodian firms and white-label technology providers.

There are also affiliate members drawn from platform consultancies, legal firms and software providers. In addition, related financial and professional services firms, including Alpha FMC, have been appointed as independent strategic partners.

The platforms obviously felt they didn’t have a trade body that properly represented their interests and needs

“Given a background of increased economic uncertainty and regulatory scrutiny, the UK platform industry now needs its own dedicated forum and representative voice,” says Moffat.

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“The Platforms Association will look to co-ordinate collective action and agree best practice to the benefit of platform operators, financial advisers and underlying investors.”

Phillips agrees.

“The investment and fund industry has been transformed and democratised over the past decade, with millions of customers now interacting directly with their financial futures through a platform.”

As a result, he adds, “sector-wide co-ordination should now be fully realised for the benefit of all”.

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The association has already developed a roadmap of priority issues to be tackled, including platform requirements, regulatory expectations, and operational efficiencies and improvements.

Having a body specifically for platforms will encourage a better understanding of the issues

These three broad areas will be overseen by a leadership council comprising representatives from across the industry. This will meet quarterly and set the strategic agenda for the association.

Membership of the council, chaired by platform veteran Peter Mann, will be by invitation only.

‘Hard prioritisation’

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Moffat says the association has already managed to collate a long list of 30 platform issues that the council needs to deliberate on.

The list was collated following consultations with the Financial Conduct Authority, the Investment Association, the Personal Investment Management and Financial Advice Association (Pimfa), TISA and other stakeholders.

“We have probably a capacity to cope with half a dozen [issues] at most and there’s some hard prioritisation going on,” says Moffat. “We need the leadership council to give us the steer as to what areas to focus on.

I’m not sure how dividing representation into two groups is helpful

“There’s a whole slew of other areas that potentially would justify, warrant and command our attention. But we’re going to have to cut our cloth accordingly,” he adds.

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The association will also have standing committees to cover legal, regulatory, operations and technology issues.

Moffat states that the association, which is a not-for-profit, is working closely with some of the leading financial services trade bodies, such as the ABI, Pimfa and TISA.

“We have talked a little about ‘Trade Body 2.0’ as a kind of model, rather than simply emulating some of the existing major players.”

He says the association is different from others because all its members, regardless of size and assets, will participate and contribute “on an equal footing”. The cost of membership is £10,000.

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Moffat continues: “I think that’s important, not so much for the amount but at the level that everybody is there equally.

“Part of the problem you tend to see with the pricing models that some of the other trade bodies adopt is that the biggest players contribute by far the largest amount of the money.

We hope this new forum can find common ground that enables progress

“The problem, of course, is that those very big players dominate and almost dictate the agenda that the trade body follows. And that’s what we’ve been keen to avoid.

“We want everybody sat around the table to contribute, and their value lies in the quality of their arguments and their analysis, rather than the amount of money they paid to be sat at that table.”

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Warm welcome

The sector has largely welcomed the newly formed platform trade body and the response from across the industry has been “genuinely quite flattering”, says Moffat.

“The one question that people have been asking is, ‘Why wasn’t this done five years ago?’

“There is no good answer to that right now other than the fact that it wasn’t. Let’s do it now, then, and get it right.”

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Platforum head Jeremy Fawcett thinks investment platforms should argue their corner with the regulator, the government and other parts of the industry.

In five years’ time, I’d like to see a platform community that is competitive and providing innovation and change at the individual platform level

It’s “surprising that it has taken so long to get here”, he says of the new trade body.

Fawcett adds: “Transact has been around for 25 years and collectively platforms hold a serious amount of the population’s wealth — about £800bn, according to our data.

“As a large and distinct part of the personal investing landscape, they find themselves in the regulator’s crosshairs and often need to respond in a co-ordinated way.

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“Asset managers and wealth managers have their own well-established associations to represent them and don’t just rely on the broader industry groups. Investment platforms are sensible to do the same.

“The platforms obviously felt that they didn’t have a trade body that properly represented their interests and needs, and spoke with a single, clear voice to the government, the regulator and the rest of the industry.

“TISA was never likely to do the job, given the wide range of members — from asset managers to large intermediaries — and the potential for conflict between them, although it remains a very useful forum.”

The challenge in platform trade bodies has been the fact there are some business models that significantly compete with each other

Söderberg & Partners Wealth Management UK CEO Nick Raine adds: “While not a silver bullet, we think having a trade body specifically for platforms will encourage a better understanding of the issues platforms face.

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“This will be a step forward from simply addressing the symptoms, which has often been the problem in the past.

“Platforms can improve transparency for end-clients and help advice firms fulfil their Consumer Duty obligations. With the additional support and advocacy of a trade body, we predict a bright future for platforms.”

Benchmark Capital chief executive Ed Dymott says: “We are always interested by improving industry collaboration, driving best practice and ensuring regulatory policy is appropriate.

“There is a lot of focus on platform business models, and we see benefits if there is more consensus in how the industry addresses key challenges.”

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Divided loyalties

However, not everyone agrees with the formation of a new platform industry body.

Parmenion chief executive Martin Jennings believes the UKPG represents the platform sector. He wants to see the group strengthen itself rather than have to compete with a rival trade body.

We’ve seen trade bodies that have tried to become quasi regulators; that doesn’t work out well for anybody

“We have currently decided not to join the Platforms Association and to continue to strengthen our representation through the UKPG,” he says.

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“I’d welcome anyone who wants to represent the industry or represent the interests of the industry and the clients within it. However, I’m not sure how dividing representation into two groups is helpful.

“I’ve a concern that we’ll end up diluting the voice because the UK platform people will represent themselves either through the Platforms Association or through the UKPG. And, when I look at
that, one group is surely better than two.”

Jennings hastens to add that his platform firm is not ruling out joining the Platforms Association in the future “if its voice becomes much stronger than the UKPG’s over time”.

The UKPG was set up in 2014 to represent retail platform operators. However, the group is limited to a small number of members in the UK. It does not have a formal legal structure or secretariat.

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They’re just drowning in stuff, trying to make some kind of coherence out of the whole thing

A UKPG spokesperson says the group remains active and continues “to deliver in line with the principles that govern it”, dismissing any suggestion of rivalry between the two trade bodies.

“The UK Platform Group is aware of the Platforms Association,” adds the spokesperson. “The UKPG, with Pimfa as secretariat, will continue to represent the views of its members and looks forward to working alongside the Platforms Association to improve the understanding of the industry and advocate for positive change.”

Definition debate

“‘Platform’ is a label in search of a definition,” the late Ian Taylor, a former CEO at Transact, once said. Decades after Taylor’s assertion, the platform sector still can’t agree on one definition.

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I put the question to the UKPG.

It replied: “It is not the role of the UKPG to define what is and what is not a platform. The UKPG has clear criteria for membership in its terms of reference, which are available on request to prospective firms who may wish to join.”

Meanwhile, the Platforms Association’s founders say they too struggled to come up with a definition.

“What is and what isn’t a platform has been a bedevilment all through the period. In the mid-2000s, this was a recurring theme on all the conference circuits,” says Moffat. “What we always agreed whenever we got bored was, ‘If it walks, swims and quacks like a duck, it’s probably a duck.’”

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We have currently decided not to join the Platforms Association and to continue to strengthen our representation through the UKPG

However, the association has opted for a broad definition of ‘platform’, he adds.

“The answer is: anybody who’s got a name above the door operating a kind of investment online solution. Most people know what a platform is when they look at it.”

The sector is beset with challenges, from regulation to tech integration. The association will face its stiffest task in getting a consensus on key industry issues.

Dymott says: “The challenge in platform trade bodies has been the fact there are some business models that significantly compete with each other.

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“This has always been a limiting factor for the sector in making progress. We hope this new forum can find common ground that enables progress to be made.”

Moffat agrees with Dymott’s assessment, adding that the new association is aware of the challenges ahead because of the “very disparate business models and players sat around the table”.

He continues: “You can’t really do anything in this space without potentially treading on toes.

This will be a step forward from simply addressing the symptoms, which has often been the problem in the past

“I would argue that a trade body, particularly one that’s trying to establish industry best practice and to provide thought leadership, should be treading on a few toes. Otherwise you’re probably not doing your job.

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“Ideally you want to do it in a way that doesn’t offend people. We’ve seen trade bodies that have tried to become quasi regulators; that doesn’t work out well for anybody.”

Regulatory scrutiny

Platforms have experienced a sharp rise in regulatory scrutiny since the introduction of the FCA’s Consumer Duty.

The duty, which came into force in July 2023, seeks to set higher standards for consumer protection across the financial services sector.

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In September the same year, the regulator sent a Dear CEO letter to platform bosses in which it outlined concerns that fees and charges might not represent fair value.

It said platform fees were “not properly disclosed” and consumers did not have a “clear understanding of what they are being charged”.

A similar letter was also sent last November on the practice of ‘double dipping’ by platforms. This led to issuance of several Section 166 reviews against platforms.

Moffat says: “Part of the challenge for the sector is a regulator that is not entirely comfortable with the behaviour of some of the platform operators. And that was evidenced.”

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TISA was never likely to do the job, given the wide range of members

He stresses that the Platforms Association is keen to engage with the FCA in addressing issues that affect the sector, saying that in the past the industry has struggled to get its message across.

“There is no steering group they can talk to,” says Moffat. “The challenge is, they’re having to have a multitude of bilateral discussions and they keep getting told different things and different approaches. And they’re just drowning in stuff, trying to make some kind of coherence out of the whole thing.

“While we probably wouldn’t have [the FCA] at the leadership council every time, there’s a standing invitation if they want to come along and discuss any of their concerns. They will get a very attentive audience.”

Moffat says the Platforms Association will focus on a comprehensive programme of activity to address high-priority industry issues.

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“In five years’ time, I’d like to see a platform community that is competitive and providing innovation and change at the individual platform level; which benefits from a coherent world view of what we’re doing and why we’re doing it; and which benefits from a number of common initiatives that strip away either costs or possible errors, or uncertainty as a whole.

Given a background of increased economic uncertainty and regulatory scrutiny, the UK platform industry now needs its own dedicated forum and representative voice

“I’d like us to be far more transparent with management information, and we’d like to have clearer best-practice guidance around what transfers look like.”

Watch this space

When it was launched in September, the Platforms Association was roundly welcomed by a sector yearning for representation.

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Those in favour say it was long overdue, while others prefer to wait and see.

Will it succeed where previous initiatives have failed?


This article featured in the November 2024 edition of Money Marketing

If you would like to subscribe to the monthly magazine, please click here.

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Warren Buffett’s Apple trade exposes Berkshire’s dilemma

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Line chart of Share price and index, rebased showing Apple has helped Berkshire outperform

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What is the next great investment idea? And what are the chances that Warren Buffett will be the person to identify it? Wall Street likes his odds. Shares in the class B of Berkshire Hathaway are up 25 per cent so far in 2024. And the rally comes as Buffett has been rapidly paring back his blockbuster win in Apple stock.

On Saturday, Berkshire Hathaway reported its third-quarter results, most notably that its cash and marketable securities balance had swelled to $325bn. A big chunk of that has come from share sales of Apple whose value for Berkshire now stands at $70bn, down from a peak of $178bn. Berkshire invested initially in Apple in 2016 when its share price was around $25 a share. Today Apple trades above $200.

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Berkshire’s total book value through the third quarter was $631bn, while its public equity market capitalisation is just shy of $1tn. That premium to net asset value reflects a vote of confidence from shareholders that Buffett, at 94, has another similar masterstroke in him.

Line chart of Share price and index, rebased showing Apple has helped Berkshire outperform

Buffett for now, however, is increasingly content to clip US Treasury coupons earning a few percentage points, risk free, with no dividends or real buybacks for Berkshire shareholders. 

It comes as other big pools of capital — alternative asset managers as well as BlackRock — are pouring funds into all types of plain and exotic private credit as well as long-tailed infrastructure and data centre deals. Blackstone, for example, has deployed $123bn in the past 12 months mostly away from either public or even private equity.

To be sure, Berkshire’s property and casualty insurance business carries out all sorts of sophisticated trading and hedging activities. But the investment group is best known for largely buying public, large-cap equities as well as mega operating business platforms such as power utilities and railroads. In the absence of a financial markets crisis where Buffett could play white knight to handsome reward, there is a question in calm markets if he needs to choose less vanilla securities.

The sheer size of Berkshire now makes it hard to find single investments that can move the needle. Its securities portfolio of more than $300bn has fewer than 30 stocks and the next Apple probably needs to be an up-and-coming Big Tech luminary. Buffett’s Apple bonanza helped obscure the dearth of juicy opportunities for Berkshire. That dilemma is now back on the table.

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Exact date Greggs festive bake is back in shops along with fan favourite item finally returning to menus

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Exact date Greggs festive bake is back in shops along with fan favourite item finally returning to menus

GREGGS has revealed the exact date it will bring back two of its festive favourite baked goods.

Customers will be able to get hold of the Festive Bake from Thursday, November 7.

The festive bake is returning to menus this week

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The festive bake is returning to menus this week
The Christmas Lunch Baguette will be returning

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The Christmas Lunch Baguette will be returning
The festive flatbread will be joining menus for the first time

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The festive flatbread will be joining menus for the first time

The Greggs Xmas staple is made up of a crumb-topped pastry filled with pieces of chicken, sage, onion stuffing, and sweetcure bacon, covered in a creamy sage and cranberry sauce.

The announcement came during the launch of Greggs’ first-ever Christmas advert featuring Nigella Lawson.

In a move that’s also expected to delight vegans and veggies across the UK, the Vegan Festive Bake is also set to return after a hiatus from the menu last year

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The Christmas Lunch Baguette will be returning to the menu alongside the much-loved Festive Bakes.

This is filled with chicken breast and sage and onion stuffing, with a dash of onion gravy, sweetcure bacon, and cheese, finished with a cranberry and onion relish.

The all-new Festive Flatbread will also be launching – a soft and warm flatbread stuffed with sage & onion style chicken mayo, sweetcure bacon and a tangy cranberry and red onion relish.

For customers looking for a Christmassy sweet treat, the brand-new Toffee Fudge Muffin and Chocolate and Hazelnut Flavour Doughnut will be making an appearance.

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The toffee flavour muffin contains toffee pieces and is topped with a swirl of toffee flavour frosting. 

The Chocolate and Hazelnut Flavour Doughnut is packed with a chocolate and hazelnut flavour filling, then topped with white chocolate flavour icing and pieces of honeycomb coated in milk chocolate.

Greggs isn’t just for savoury or sweet snacks.

I visited Greggs’ new champagne bar – one cocktail tastes just like an iconic childhood treat

The chain is also adding several hot drinks to its menu.

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Mint Hot Chocolate and Mint Mocha are making a comeback.

The hot chocolate is a festive twist with delicious mint-flavoured syrup, a cream topping and a sprinkle of chocolate to finish.

The Mint Mocha is made with freshly ground espresso, steamed milk, hot chocolate, and mint-flavoured syrup with sweetener, and it is finished with whipped cream and chocolate sprinkles.

GREGGS FESTIVE MENU

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GREGGS has unveiled its highly anticipated festive menu and the exact date it lands in shops.

Here’s the full list of menu items being added nationwide and the date they will be landing on menus.

  • Festive Bake – from £2.00 or as part of the savoury bake deal from £2.85 (458 Calories) – November 7
  • Vegan Festive Bake (New and improved Recipe) – £2.00 or as part of the savoury bake deal from £2.85 (412 calories) – November 8
  • Christmas Lunch Baguette – from £3.80 or as part of the hot sandwich deal with wedges and any drink, from £4.95 (544 calories) – available now
  • Festive Flatbread – from £3.50 or as part of the hot sandwich deal with wedges and any drink, from £4.95 (395 calories) – available now
  • Gingerbread Latte – from £2.50 (204 calories) – November 7
  • Iced Gingerbread Latte -from £3 (165 calories) – November 7
  • Gingerbread Flat White – from £2.50 (124 calories) – November 7
  • Mint Mocha – from £2.60 (293 calories) – November 7
  • Mint Hot Chocolate – from £2.60 (278 calories) – November 7
  • Toffee Fudge Muffin – from £1.50 or as part of the sweet deal with a regular hot drink from £2.85 (367 calories) – November 7
  • Chocolate and Hazelnut Flavour Doughnut – from £1.35 or as part of the sweet deal with a regular hot drink from £2.85 (331 calories) – November 7
  • Christmas Mini Caramel Shortbread – from £2.15 (95 Calories per shortbread) – available now

FIRST CHRISTMAS ADVERT

Greggs unveiled its first-ever Christmas advert last night, and it sees celebrity chef Nigella Lawson try the bakery’s festive menu.

Customers have taken to social media to share their views on the 60-second clip.

One person said on X: “Possibly the best advert ever created”.

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Another said: “Nigella elevates Greggs to ANOTHER level”.

“Fabulous! Nobody does Christmas as beautiful as you do, Nigella! You make the festive season feel warm, cozy and special,” said a third.

However, a fourth joked: “Somehow, I can’t see the goddess queuing for any of that.”

The advert is set to an instrumental version of Carol of the Bells – a well-known Christmas carol.

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It opens with Nigella returning home to a London townhouse decorated with a traditional Christmas tree decked in Greggs baubles.

In a scene lit by fairy lights, she notes that Christmas is her “favourite time of year” before tucking into a Greggs Festive Bake.

Describing the return of the eagerly anticipated festive favourite, Nigella describes it as a “rapturous riot of flavour” with a “succulent filling”.

The advert parodies Nigella’s famed use of superlatives, which viewers of her popular cooking shows will be familiar with.

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The camera then pans over a table filled with Greggs goodies as Nigella narrates the items being showcased.

She describes “sweet mince pies, aromatic gingerbread lattes and gorgeous Christmas baguettes”.

Eagle-eyed viewers will also spot a fan favourite item making an appearance on the festive spread – the Vegan Festive Bake.

The advert confirms that the savoury treat will be returning after customers were left fuming when it was removed from menus last year.

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The film ends with Nigella preparing to sip a gingerbread latte while telling viewers: “The Gregg’s Christmas menu is back. Bag some joy.”

OTHER FESTIVE MENUS

M&S revealed its new Christmas menu last week.

It features double-wrapped pigs in blankets with gravy and a s’mores milkshake.

The festive items, set to hit M&S from November 6, also include a range of sandwiches, snacks and sweat treats.

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The pigs in blankets, which come with a side of gravy for dipping, will set customers back a modest £2.50.

The s’mores milkshake, which is flavoured with “toasted marshmallow syrup” for a taste of the fireside, comes at a steeper £4.

The indulgent drink comes with whipped cream, biscuit crumbs, chocolate sauce and marshmallows – much like the £4.10 s’mores hot chocolate.

Meanwhile, a favourite from last year’s menu is set to return, the £7.50 Turkey and Ham Hock Toastie, which also comes in a gluten free version.

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The festive sarnie, which was a hit on social media, is getting an indulgent upgrade – with extra turkey and a cheesy bechamel sauce.

A brand-new cheeseboard toastie has been added to the mix for £6.50, with Barbers cheddar, Emmental, and Red Leicester, as well as a Christmas port and onion chutney and three cheese bechamel.

If sarnies aren’t your thing, you can also try the new Chicken Schnitzel with Roasties – served with cranberry sauce and mayonnaise for £9.95.

Starbucks also revealed its new Christmas menu last week.

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The chain has brought back fan favourites alongside new sweet treats.

Returning to the menu is the toffee nut latte, which starts from £4.35 for a tall size.

It’s made with toffee nut flavour syrup and steamed milk, and is finished with whipped cream and toffee nut flavour sprinkles.

The caramel waffle latte and gingerbread latte has also made a comeback and is priced at £4.35.

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All of these Christmas favourites are available hot, iced, or as a Frappuccino blended beverage.

Fans of the eggnog latte will be thrilled to learn that the drink has returned, with prices starting at £4.40.

It can be bought either hot or iced.

Hungry shoppers can pair their festive drink with the Polar Bear Cake Pop.

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It features a vanilla-flavoured sponge with digestive biscuit crumb, as well as chocolate icing and frosting to create the adorable face of a polar bear.

Meanwhile, rival coffee chain Costa has unveiled nine new items and a returning favourite that it will be adding to its Christmas menu.

How to save money on Christmas shopping

Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.

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Limit the amount of presents – buying presents for all your family and friends can cost a bomb.

Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.

Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.

Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.

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Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.

Delivery may cost you a bit more, but it can be worth it if the savings are decent.

Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.

They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.

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The investment is part of a multi-year retrofit programme to install its all-new long-haul cabin products across 41 Airbus A350-900 long-haul and ultra long range (ULR) aircraft

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