Starbucks CEO orders 'unconscious bias' training after arrest of 2 black men
The chief executive officer of Starbucks says he will order managers of the coffee giant's stores to undergo training on how to spot "unconscious bias" after witnesses said two black men were arrested at a Philadelphia shop for doing nothing but sitting at a table.
"I'll say the circumstances surrounding the incident and the outcome at our store on Thursday were reprehensible," Starbucks' CEO Kevin Johnson said in an exclusive interview with ABC News’ "Good Morning America" today. "They were wrong, and for that, I personally apologize to the gentlemen that visited our store."
Johnson was in Philadelphia this morning, a day after protesters rallied Sunday at the downtown Philadelphia Starbucks, where the two black men, who have yet to be identified, were led out in handcuffs by police and accused of trespassing.
The demonstrators demanded Starbucks fire the manager of the store for calling the police.
"We don't want this Starbucks to make any money today. That's our goal," Abdul-Aliy Muhammad, one of the protest's organizers and co-founder of the Black and Brown Workers Collective, told The Associated Press.
In response, the company’s CEO said this morning, Starbucks will conduct a thorough investigation of the incident and hopes to ask the two men who were arrested to "join me in finding a constructive way to solve this issue."
"Clearly, there's an opportunity for us to provide clarity and in addition to that I'd say there's training, more training that we're going to do with our store managers, not only around the guidelines but training around unconscious bias," Johnson said.
The 28,000 Starbucks store across the nation may have slightly different regional guidelines on how to handle situations that warrant police intervention, he added.
"Now, there are some scenarios where the police should be called. If there's threats or disturbance, those may be appropriate times," Johnson said. "In this case, none of that occurred. It was completely inappropriate to engage the police."
The arrests of the men were captured on video and tweeted by Melissa DePino, a 50-year-old mother of two who told ABC News she's vowed not to patronize Starbucks again. The video has since been viewed more than 9 million times.
"It was humiliating for those guys," DePino said. "They were completely minding their own business."
Both men were later released and the charges they were facing -- trespassing and disturbance -- were dropped Thursday night.
Philadelphia District Attorney Larry Krasner also refused to prosecute after Starbucks asked to not press charges.
Philadelphia Police Commissioner Richard Ross Jr. said in a video testimonial released by the police department Saturday that his officers "did absolutely nothing wrong."
"I can tell you candidly these officers did a service they were called to do," he said.
Philadelphia Mayor Jim Kenney slammed Starbucks for the incident, saying it "appears to exemplify what racial discrimination looks like in 2018."
Johnson, the CEO, said Starbucks accepts full responsibility for what occurred.
"Starbucks was built as a company that creates a warm, welcoming environment for all customers," he told “GMA.”
"That didn't happen in this case. That, I know. And so it's my responsibility to ensure that we review everything. We review the actions of the store manager, we review the guidelines that were provided and we review and invest in the training necessary to ensure that doesn't happen again."
April 16, 2018
Sources: ABC News
<p>For not only was the heir to the throne confirmed as the Queen's successor as head of the Commonwealth, he was also flying the flag for Britain's drive towards greener electric cars.</p><p>The Prince has been using the new all-electric Jaguar I-Pace for official duties at Commonwealth Heads of Government (CHOGM) meetings – the first VIP to do so – having keenly followed its hi-tech and environmentally-friendly development for more than a year.</p><p>Easy rider: Prince Charles gets ready to step aboard his Jaguar I-Pace</p><p>The I-Pace combines the Prince's love of cars with his passion for the environment.</p><p>Jaguar Land Rover executives said Prince Charles has taken a close interest in Jaguar's electrification plans and more than a year ago had an exclusive private viewing – before anyone else - of the I-Pace. </p><p>Dr Ralf Speth, CEO of Jaguar Land Rover welcomed both Prince Charles's first ride in the electric I-Pace and his wider interest in JLR's 'green' technology.</p><p>He said:'It was a great honour to see His Royal Highness travel to the Illuminating India event in the Jaguar I-Pace, to demonstrate links between British and Indian Science and Engineering.</p><p>'His Royal Highness has shown unwavering vision and leadership in encouraging a movement towards alternative sources of power.</p><p>'As one of the first to experience our all-electric Jaguar I-PACE, His Royal Highness has further demonstrated his own personal commitment to sustainable green living.</p><p>'At Jaguar Land Rover we are committed to create a sustainable future for our brands, our business and our society.' </p><p>The I-Pace combines the Prince's love of cars with his passion for the environment - Land Rovers and Range Rovers, such as those pictured driving past Buckingham Palace (right) are a favourite of the Royals.</p><p>The I-Pace was unveiled at the Geneva Motor Show and first customer deliveries begin in June.</p><p>The British firm's Tesla rival is a zero-emissions sleek SUV that accelerates from rest to 60mph in just 4.5 seconds, with enough battery charge to drive 300 miles from London to Newcastle.</p><p>The I-Pace also spearheaded a cavalcade of more than 50 JLR vehicles, which transported heads of state and leaders of 53 Commonwealth countries from Buckingham Palace to St James's Palace, for a meeting with UK Prime Minister Theresa May yesterday.</p><p>They also took them up to Windsor Palace for today's historic announcement. </p><p>And they're off: The procession starts off from Buckingham Palace</p><p>Standing guard: The cavalcade makes its way past the Queen's Guard</p><p>Trooping past: The 50-plus strong contingent of JLR vehicles drives out of the Palace gates</p><p>Jaguar Land Rover his the only car maker to hold three royal warrants: from the Queen, the Duke of Edinburgh and Prince Charles.</p><p>A JLR source said: 'His Royal Highness had a private viewing of the initial design, and some future electric vehicle concepts, just over a year ago. </p><p>'He expressed considerable interest in the transition to electric vehicles, the development of vehicle battery technology and battery life cycles.' </p><p>Meanwhile, JLR's German-born chief executive Dr Ralf Speth has an honorary knighthood, which can be granted to foreign nationals, but recently took up UK citizenship.</p><p>Officials said the Prince of Wales has been discussing electric vehicles for at least a decade and is considered a royal 'standard bearer' for the strategy being following at Jaguar Land Rover.</p><p>At attention: The procession get in gear for the start</p><p>Cutting edge technology: LR's German-born chief executive Dr Ralf Speth presents the I-Pace</p><p>Dual citizenship: Dr Speth has an honorary knighthood, which can be granted to foreign nationals, but recently took up UK citizenship</p><p>Prince Charles travelled to a number of meetings and events in the I-Pace during the Commonwealth Summit.</p><p>The heir to the throne is renowned for his interest in 'green' environmental matters, and became the first dignitary to be seen publicly in an I-Pace when he used the vehicle to attend an engagement with Indian Prime Minister Narendra Modi, at London's Science Museum.</p><p>The Prince has championed sustainable 'green' living issues for many years. Sources said: 'So it was only a matter of time before he stepped into a greener, electric vehicle.'</p><p>Clarence House tweeted a video of the cavalcade which was seen by up to 745,000 of the Royal Household's followers social media follows on Twitter.</p><p>A JLR source said: 'His Royal Highness had a private viewing of the initial design, and some future electric vehicle concepts, just over a year ago. </p><p>Sneak peek: The Prince had an exclusive private viewing of the I-Pace more than a year ago</p><p>State procession: The I-Pace was in a cavalcade of vehicles which transported Commonwealth heads of state from Buckingham Palace to St James's Palace for a meeting with the PM</p><p>'He expressed considerable interest in the transition to electric vehicles, the development of vehicle battery technology and battery life cycles.'</p><p>The car-loving prince famously converted the classic Aston Martin 1969 DB6, given to him by the Queen for his 21st birthday, to run on 100 per cent bio-ethanol fuel distilled from surplus English wine.</p><p>Jaguar Land Rover is owned by Indian industrial giant Tata and employs 42,000 people with factories in Birmingham and Merseyside and engineering centres in Coventry and Warwickshire, though earlier this month announced it was not renewing the contracts of 1,000 contract workers because of 'headwinds' in the UK car market.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. 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t take no for an answer.</p><p>Having had three bids for the Irish drug maker Shire turned down, it returned with an improved fourth yesterday.</p><p>The new offer values Shire at £47 a share, or £42.8billion, a near-£500million improvement on its last bid.</p><p>Having had three bids for the Irish drug maker Shire turned down, Takeda returned with an improved fourth yesterday. The new offer values Shire at £47 a share</p><p>Botox maker Allergan was also in the running to buy the FTSE 100 firm before pulling out of the race on Thursday in a takeover pursuit that is beginning to rival a soap opera for drama.</p><p>If Takeda succeeds with its latest bid, it will go down as one of the pharmaceutical sector's largest-ever deals.</p><p>Before Takeda's latest approach, analysts claimed a deal for Shire was all but dead in the water.</p><p>But it raises hopes that a deal can be thrashed out before the 5pm deadline on April 25.</p><p>Takeda said: 'Takeda believes the improved proposal represents a highly compelling opportunity for Shire shareholders.' </p><p>Despite the new bid, Shire's shares fell 3.9 per cent ,or 153.5p, to 3821.5p, wiping £1.4billion off its value.</p><p>The FTSE 100 posted its third consecutive day of gains, rising 0.54 per cent, or 39.25 points, to 7368.17, while the FTSE 250 was up 0.37 per cent, or 73.61 points, at 20,220.77.</p><p>The threat of a widespread attack by Russian hackers has sent shares in cyber security experts Defenx soaring.</p><p>The UK and US governments warned last week that Russian hackers were about to hack millions of smartphones and computers as tensions between the countries hit boiling point.</p><p>Since then, Defenx, which develops anti-virus software for smartphones and computers, has gone up 66.7 per cent. Yesterday, shares rose an incredible 57.1 per cent, or 10p, to 27.5p.</p><p>Analysts tipped Virgin Money as a likely takeover target for Spain's Sabadell, the banking group that owns TSB. </p><p>Alicante-based Sabadell, one of Spain's biggest banks, is reportedly 'open to further acquisitions in the UK' after swooping on TSB in 2015.</p><p>Ian Gordon, an analyst at Investec, believes 'growth stock' Virgin would be a perfect acquisition amid 'emerging predatory interest'. </p><p>Shares in FTSE 250-listed Virgin Money notched up 1.5 per cent, or 4p, to 278.3p.</p><p>There was plenty of action elsewhere. Drug maker Hikma revealed its US subsidiary, West-Ward Pharmaceuticals, had launched an injection to combat chronic heart disease cardiomyopathy in certain women with breast cancer. Its shares ticked up nearly 2 per cent, or 23.5p, to 1208p.</p><p>Energy firm Drax said it would buy back £50m of shares from investors before January 21 and that nudged shares up 1.2pc, or 3.6p, to 301.8p.</p><p>Insurer esure won the backing of Peel Hunt, which upgraded it from 'add' to 'buy'. The shares are more than 25 per cent off their June 2017 peak, but that now means that they look 'undervalued'.</p><p>Mark Williamson, one of the broker's analysts, said: 'The shares have weakened to an extent that the valuation has now become attractive.' Esure's shares went up 1.9 per cent, or 4.2p, to 225.4p.</p><p>Engineer Meggitt has signed a five-year deal to supply electric valves and actuators to Solar Turbines, a supplier of turbines to the oil and gas industry and a subsidiary of US construction equipment giant Caterpillar.</p><p>Meggitt has supplied Solar with gas and liquid valves for more than 20 years. Shares rose 1.7 per cent, or 7.7p, to 462.1p.</p><p>Bonmarche marched higher despite the women's over-50s fashion outfit reporting falling sales. </p><p>A poor fourth quarter led to a 0.5 per cent sales dip in the year to March 31, although it said profit would still be in line with expectations. That reassurance calmed investor nerves and shares hopped 4.4 per cent, or 4p, to 94.5p.</p><p>On Aim, Omega, which makes allergy tests, tied up a global distribution deal with Immunodiagnostic Systems to sell its Allersys testing range and saw its shares rocket 36.6 per cent, or 3.2p, to 11.95p.</p><p>Fundraising dented Mobile Streams, a smartphone app and game distributor. It raised £105,329 through the issue of nearly 9.2m shares at 0.002p each but its price slipped 5.4 per cent, or 0.08p, to 1.32p.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
atching the latest blockbuster movie, you first had to trudge down to your local video rental store.</p><p>But then along came Netflix. Now, for a small monthly fee, you can stream the latest hit movie from the internet to watch on your TV, laptop or smartphone when it suits you.</p><p>So-called streaming sites are getting so popular they are beginning to steal customers from satellite and cable companies such as Sky and Virgin.</p><p>With a market value of £103bn, Netflix is only slightly smaller than Disney, worth £108bn, on paper. But it has become a victim of its own success</p><p>This week Netflix revealed it had hit 125m subscribers. In just five years, the California tech giant has signed up nearly 96m people, adding 7.4m in the past three months alone.</p><p>This has not escaped the attention of investors, who have piled in and pushed its shares up an astonishing 1,223 per cent since 2013.</p><p>With a market value of £103billion, Netflix is only slightly smaller than Disney, worth £108billion, on paper. But it has become a victim of its own success.</p><p>Despite its obvious accomplishments, the harsh truth is it makes very little money.</p><p>In the 21 years since it launched, it has banked just £2.1billion in profit from £37.7billion of sales, according to figures by broker AJ Bell.</p><p>Detractors say this makes it hard for Netflix to justify its lofty share price, which at $330 a share means it is trading at more than ten times sales.</p><p>It also burns through cash. This year it plans to spend £5.7billion producing its own shows and movies, roughly four times the BBC’s production budget.</p><p>US vulture funds believe this is enough evidence to make big bets on its shares falling. So the question for investors is: have they missed the Netflix boat?</p><p>Since it launched, Netflix has banked just £2.1billion in profit from £37.7billion of sales</p><p>Russ Mould, of broker AJ Bell, said: ‘Netflix is undoubtedly a success but portfolio builders still have to ask whether that makes it a good investment.</p><p>‘Good companies can still provide poor share price returns if you overpay for them, so the long-term call is really one that hinges on valuation.’ The key to Netflix’s future profitability is signing up new members.</p><p>On that front, Netflix and the analysts that cover it are bullish. The streaming firm has forecasted another 6.2m new sign-ups in the next three months while Baird, the US investment bank, is predicting 300m global subscribers by 2025.</p><p>But even if that comes to pass, Netflix faces headwinds.</p><p>Firstly, it can’t keep growing at the rate it has forever. The US market of 325m people only offers so much potential. And in poorer countries, it is hindered by poor broadband availability.</p><p>On top of that, there is no guarantee of its continued popularity. Netflix has built its success on original shows such as The Crown – starring Claire Foy and Matt Smith (pictured above), Stranger Things and Orange Is the New Black, which have become global hits.</p><p>But for that to continue, it needs to keep producing the goods. And making shows and movies is expensive and could easily spiral, which concerns some experts.</p><p>William Power, of Baird, said: ‘The push toward increased original programming and content costs generally could pressure profitability and cash flow more than expected.’</p><p>Netflix also faces stiff competition from the likes of Amazon, which has roughly 100m subscribers to its own streaming service. But at the moment, that is all theoretical.</p><p>The fact is, Netflix is undoubtedly the leader in streaming and, if you believe the forecasts, it will be for some time.</p><p>That makes it a target for the likes of Apple, according to some analysts, which would provide a bumper payday to existing investors.</p><p>Neil Goddin, manager of the Kames Global Equity Fund, said: ‘We should have held Netflix and that debate gets harder every quarter as it outperforms more. We are looking at it again now and we will think about it again.</p><p>‘They have done a really good job and they continue to surprise the market. While they are doing that, I wouldn’t put anyone off owning it – even now.</p><p>‘However, you have got to keep in mind that it is expensive. Although, we have seen plenty of expensive stocks go up lots – it is not “out there” to suggest it can continue to carry on as it is.’</p><p>But, in reality, those who haven’t already bought into Netflix are likely to have missed out on its most rapid period of growth.</p><p>However, if it can turn a decent profit, keep signing up members at the rate it has and continue to pump out shows people want to see, the Netflix story might still have some way to go.</p><p>But investing now is only a good idea for those willing to accept the risks, experts say.</p><p>Mould of AJ Bell said: ‘Netflix remains a high-risk, potentially high-return stock.</p><p>‘It is only best suited to risk tolerant, patient investors who may need to be prepared for volatility.</p><p>‘Value seekers are likely to look elsewhere and just admit they have missed this one.’</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Find out how much a regular monthly savings scheme could make me.</p><p>Calculate how much a lump sum investment could be worth.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
0-year retirement, new research has revealed.</p><p>The Which? study of almost 12.9million people receiving the state pension found that the average man receives £153.86 per week compared to their female counterpart who pockets only £125.98.</p><p>Out of the total pensioners looked at, 546,000 get state pension under the new system launched in April 2016, while the other 12.3million get payouts that started under the previous regime, based on Department for Work and Pensions figures.</p><p>Wide gulf: Men get almost £29,000 more than women during a typical 20-year retirement, new research has revealed</p><p>The new state pension was launched in April 2016, to overcome the complexities in the old state pension system, and applies to people retiring since then.</p><p>Among those who are better off are the self-employed and people who have taken time out of work to care for family members.</p><p>To receive the new state pension most people need at least 10 years of qualifying national insurance contributions - and 35 years of contributions to get the full amount. </p><p>But 'contracting out' of the second state pension for periods in the past means you might get less than the current £164.35 a week even if you paid in for the maximum number of years - see the box below.</p><p>Qualifying years could come from paying contributions or getting credits, for instance for caring for a family.</p><p>Which? also revealed that a person getting their pension under the old system may find themselves worse off compared with new recipients.</p><p>It found that people who had qualified for their pension since the new system was introduced typically received £12.54 more per week than those under the old system - adding up to a difference of £13,041 over a 20-year retirement period.</p><p>In the past, women have often found themselves getting a smaller state pension than men due to taking time out of work to care for family members.</p><p>But the research also suggested that the state pension gap between men and women is getting smaller.</p><p>Which? said that, in August 2017, the average payment received by women equated to 81.9 per cent of that received by men, up from 77.7 per cent in August 2013.</p><p>The DWP told Which? the new state pension is already reducing the gap between men and women.</p><p>It said in a statement: ‘Around 650,000 women reaching state pension age in the first 10 years will receive an average of £8 per week (in 2015/16 earnings terms) more, due to the new state pension valuation of their National Insurance record.’</p><p>Pension gap: Sir Steve Webb, director of policy at Royal London, said the short-term difference in pension outcomes was accounted for by transitional rules honouring the typically larger pensions that men had already built up by 2016 before moving to the new system</p><p>In response to the research, the DWP also told Which?: ‘The statistics currently available on the new state pension are not yet sufficiently representative to draw robust comparisons between the old system and the new one.</p><p>‘This is because they only cover the period April 2016 to August 2017: in that period only a few hundred thousand people have made new claims, whereas the statistics for the previous system are based on 12million people.’</p><p>A DWP spokesman added: ‘This analysis does not include the benefits from previous contracted-out pensions that were integral to the state pension system up to April 2016.</p><p>‘This means that it under-reports the incomes of millions of people.</p><p>‘By focusing on one element of the state pension, it only provides part of the picture and risks undervaluing the combined impact of all parts of the pension system.</p><p>‘The new state pension is simpler than the previous system, with millions of people set to benefit and, by 2030, over three million women are likely to be on average £550 a year better off thanks to these changes.’</p><p>The full analysis appears in the May issue of Which? Money magazine.</p><p>New benefits: People who had qualified for their pension since the new system was introduced typically received £12.54 more per week than those under the old system</p><p>Harry Rose, Which? Money editor, said: ‘Our evidence shows how variable people's state pension payments still are.</p><p>‘Many pensioners will be shocked by the differences in average payouts to men and women and those qualifying under the old and new systems.</p><p>‘Some pay gaps will close eventually, but not soon enough for some.’</p><p>Sir Steve Webb, a former pensions minister who is now director of policy at Royal London, said: ‘The new state pension has been designed to treat men and women equally.</p><p>‘Someone with 35 full years in the new system will get exactly the same pension, whether they are male or female.</p><p>‘But, in moving to the new system, it was necessary for transitional rules to honour the typically larger pensions that men had already built up by 2016, which explains the short-term differences in outcomes.</p><p>‘This should not detract from the radical change which the new system brings, which will stop women being second-class citizens when it comes to state pensions.’</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. 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d's Knightsbridge' thanks to the deep pockets needed to buy one of the luxury apartments.</p><p>The homes in the Ballsbridge area of the historic city have been painstakingly constructed, as reflected in the careful preservation of 150-year-old trees on the site.</p><p>The trees have been preserved due to the site's history - it is where the Trinity College Botanical Gardens sat between 1806 and 1968. </p><p>The Lansdowne Place development, which has one-bedroom flats starting from £695,000, is close to the Aviva Stadium, home of Irish rugby. </p><p>Steeped in history: Lansdowne Place is being constructed on the former site of the Trinity College Botanical Gardens</p><p>Some of the 150-year-old trees can be seen around the development's showroom</p><p>Among the dozens of preserved trees is the star of the show - a strawberry tree. </p><p>It is so called not because it produces any strawberries but due to the striking red colour of its bark.</p><p>It takes pride of place, and is even reflected in the logo in the scheme's marketing material and a specially commission statue that is being commission for the front of the development. </p><p>The site's landscaper Andrew Ballsbridge explained how the old trees create a less manicured look to the new development, saying: 'Residents are seeking proximity to nature... in a digital world, people appreciate these things.'</p><p>The old trees can be seen out of the windows in the living area of the show apartment</p><p>Red bark: This strawberry tree on the site is being preserved as a key feature</p><p>There are more than 500 apartments being built on the Lansdowne Road development</p><p>The first block of the development is sold out and will be ready to move into in November. </p><p>The scheme launches to international buyers this week, with all 60 flats sold so far having been bought by Dubliners.</p><p>Six more blocks are available with each one being named after a well-known figure within the botanical industry.</p><p>They include one called Templeton, named after John Templeton - the man regarded as the father of Irish botany.</p><p>Another of the blocks is called Hutchins, after Ellen Hutchins, who was Ireland's first female botanist and identified several important specimens.</p><p>The site's history is not the only unique feature of the development.</p><p>It is an aspirational development that breaks the record for the highest price per square foot for a new-build apartment in Dublin.</p><p>The development is in the prime Dublin location of Ballsbridge, with the highest price achieved so far in the block being €1,725 - the equivalent of £1,500 - per square foot.</p><p>This is believed to be among the highest price ever paid in Dublin for a new-build apartment and it was for a three-bedroom penthouse on the development.</p><p>The apartments are next door to the Aviva Stadium - home of Irish rugby</p><p>The apartments have a sun room rather than a terrace to shield buyers from the Dublin climate</p><p>The interior designers Goddard Littlefair are behind the luxury apartment decor </p><p>It achieved the price due to a number of factors. Lansdowne Place includes stunning interiors with handcrafted kitchens by O'Connors, a sun room and an en-suite with every bedroom.</p><p>It is also the first block of new-build flats in Dublin with extensive facilities such as a library, well-being treatment rooms and a cinema room. </p><p>While these may be more commonplace elements of new luxury apartment buildings in other cities in England, this is the first time they have appeared in Dublin.</p><p>The Irish capital is seeing huge growth in the property market to cater for employees from companies such as Facebook, Google and Airbnb, which all have bases in Dublin.</p><p>This companies are part of a city that has been named as having the fastest growing economy, according to Eurostat.</p><p>Wooden floors and digital lighting feature throughout the living areas</p><p>The custom-designed kitchens have been handcrafted in Ireland by O'Connors</p><p>Prices for one-bedroom flats covering 782 sq ft start from £695,000 </p><p>Outside, the development has several dozen trees aged around 150-years-old. These have been kept despite the vigorous excavation work carried out around them.</p><p>Two new large trees costing £13,000 each are also being added to the courtyards.</p><p>In total, £90,000 has been spent on new trees on the site, with millions more on the landscaping. </p><p>The first phase of the development includes 215 apartments, with prices for one-bedroom flats covering 782 sq ft costing £695,000 and increasing to £6.3million for a three-bedroom penthouse covering 4,200 sq ft.</p><p>The second phase of the development includes a further 300 apartments along with space for shops and a hotel. The entire development will be completed by 2023.</p><p>The spacious bedrooms each have a terrace and en suite bathroom</p><p>The aim is for the area of Ballbridge to become the equivalent of London's Knightsbridge - albeit at a much lower price per square foot.</p><p>The area already attracts plenty of money, but celebrities tend to congregate instead in the neighbouring area of Sandymount.</p><p>That area includes Dublin Bay, which can be seen from some of the higher apartments in the 12 storey Lansdowne Place development.</p><p>Ballbridge includes several embassies, including the American Embassy, along with the most expensive street in road in Dublin - Shrewsbury Road where prices paid have previously reached £50million for the larger properties.</p><p>There's easy access to Dublin's city centre, with its shopping centre and top restaurants such as Peploes.</p><p>And no visit to Dublin is complete without a visit to the city's lively Templebar area for a pint or two of Guinness in one of the city's many Irish pubs.</p><p>The flats have a 999 lease, an underground parking space and service charges of five euros per sq ft</p><p> Each of the seven blocks have been named after a well-known figure in the botanical industry</p><p>The apartments are also close to the Lansdowne Road railway station.</p><p>Andrew Gunne, chief executive of the site's developer Chartered Land, said: 'Lansdowne Road is a name that's not recognised worldwide, but the area it is situation in - Ballsbridge - is the most exclusive residential address in Dublin. </p><p>'The area is in the middle of a rejuvenation, which is seeing the creation of a new village quarter, benefiting from high-end retail boutiques, restaurants, bars and modern office developments.' </p><p>Estate agent Savills, which is handling the sale of the apartments, said the targeted buyer is 55-year-old business owners who are downsizing. </p><p>The flats have a 999 year lease, an underground parking space and service charges of five euros per square ft.</p><p>There are agency fees of 1.5 per cent and stamp duty as well as the usual legal fees.</p><p>Stamp duty in Dublin is 1 per cent up to one million euros and 2 per cent on the balance. There is no tax on second homes.</p><p>Buyers also need to be aware of Ireland's property tax, which is 0.18 per cent of the price paid every year and 0.25 per cent on the balance. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Find out monthly payments and compare the cost of mortgages over the initial deal period including arrangement fees.</p><p>Use this 2nd calculator to do a comparison with the mortgage above.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
ify a whistleblower at the bank in 2016, allegedly breaching conduct rules in the process.</p><p>Both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) claim Staley's actions violated rules that require him to 'act with due skill, care and diligence'.</p><p>He used Barclay's internal security to try and track down the author of two anonymous letters sent to the board and a senior executive in June 2016. On the second occasion, the security team received assistance from a US law enforcement agency, but still failed to identify the whistleblower, the Guardian reported.</p><p>Barclays has stood by its boss Jes Staley (pictured), and stressed that he has not been accused of acting with a lack of integrity, or that he was not fit to continue in his role as chief executive</p><p>Following the warnings over Staley's conduct, the bank stressed that its boss has not been accused of acting with a lack of integrity, or that he was not fit to continue in his role as chief executive.</p><p>The size of the proposed penalty has not been disclosed. Staley has 28 days to respond to the warning notices issued by the two regulators.</p><p>Barclays Bank, which also faced a probe following Staley's attempts to identify the author of the anonymous letter, is not facing any enforcement action by the FCA or PRA.</p><p>However it may have to report on its whistleblowing procedures to the regulators.</p><p>Staley (pictured) used Barclay's internal security to try and track down the author of two anonymous letters sent to the board and a senior executive in June 2016</p><p>The board said it 'continues to have unanimous confidence in Mr Staley' and is still recommending that shareholders back his re-election at the annual general meeting (AGM) on May 1.</p><p>Staley's misconduct was the focus of last year's AGM when shareholders fired a warning shot at the banking chief, with more than 16 per cent of votes cast failing to back his re-election.</p><p>Nearly 14 per cent abstained and 2.4 per cent voted against him - even after he issued an apology to shareholders at the meeting.</p><p>But an influential advisory group - Institutional Shareholder Services (ISS) - earlier this week called for a vote in favour of Mr Staley 'even though it is not without concern for shareholders'.</p><p>Its support was based on views that the company and chief executive were co-operating with authorities and that the bank had strengthened its whistleblowing programme.</p><p>The board said it 'continues to have unanimous confidence in Mr Staley' and is still recommending that shareholders back his re-election at the annual general meeting on May 1</p><p>Commenting on the regulators' notices on Friday, Barclays highlighted that, in May 2017, 'the Barclays board voluntarily commissioned independent reviews of Barclays' whistleblowing policies, processes and controls, in line with which certain enhancements have subsequently been made'.</p><p>However, the shareholder group did note a 'lack of any action on the CEO's pay' after the 61-year-old boss received a formal reprimand from the board, but said it was still recommending that investors vote in favour of Barclays' remuneration report.</p><p>ISS's recommendations were outlined in a report published before the FCA and PRA probes were known to have been completed.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
Government's aim of limiting small-scale amateur landlords appears to be closer to fruition.</p><p>Research conducted by Simple Landlords Insurance has found that a third of landlords with just one buy-to-let property are planning to sell and give up on buy-to-let. </p><p>Meanwhile, 38 per cent of landlords who own two or more properties say they are planning to buy at least one more in the coming year. </p><p>Landlords with larger portfolios are planning further investment this year but those with one investment property are considering selling</p><p>Tom Cooper, of Simple Landlords Insurance, said: 'The research reveals it is the landlords positioned at the larger end of the market – or aspiring to get there – who are least fazed by tax changes.</p><p>'They are also the best poised to take advantage of increasing tenant demand and bargain housing stock being sold off.'</p><p>It follows two years of change for buy-to-let landlords. </p><p>Former Chancellor George Osborne first announced a tax raid on landlords in 2015, stating the move was designed to support home ownership amid claims that landlords were scooping up properties and making it harder for hopeful first-time buyers to compete.</p><p>Intending to put a stop to this, the Government slapped a 3 per cent surcharge on stamp duty payable on new buy-to-let purchases from April 2016. This trebled the tax bill compared to residential property in some cases.</p><p>A further change arrived in April last year, as landlords began to lose their tax relief under a rule known as Section 24, which also forces them to pay tax on their rental income rather than just on their profit after mortgage costs.</p><p>Furthermore, the Bank of England also clamped down on mortgage lenders, forcing them to require landlords to earn a much higher ratio of rental income compared to their mortgage payments.</p><p>In October last year, further rules were brought in for landlords with four or more mortgaged properties to ensure their debt levels are not too high. </p><p>This chart shows how house prices have risen across the UK over the past decade-and-a-half, according to the ONS</p><p>High house prices have also squeezed those looking to get into buy-to-let, while encouraging some smaller landlords fearing the headache of higher taxes to take profits and sell up. </p><p>House prices rose across the country, except in London, in the year to February, ONS figures showed this week.</p><p>Cooper added: 'From Section 24 to Right to Rent, increased stamp duty, capital gains tax, regulation and licensing, you’d be forgiven for thinking it was all doom and gloom in the private rented sector. </p><p>'But our evidence shows there are landlords adapting to the changes and emerging like phoenixes from the ashes.'</p><p>Some 38 per cent of the landlords with two or more properties said they plan to buy at least one more in the next year – dwarfing the 11 per cent of landlords with single properties who are planning to expand.</p><p>Meanwhile, 30 per cent of single property landlords plan to sell, compared with just 8 per cent of landlords with more than two properties.</p><p>The number of accidental landlords is also on the decline, falling from 18 per cent in 2016 to 15 per cent in 2017, widening the gulf between them and more professional investors. </p><p>Carl Agar, managing director of estate agent Big Red House, said: 'Times change. Markets change. But property can still be a way to make money if you change too. </p><p>'There’s a clear difference between the big players and the dabblers, the old school landlords and the new kids on the block.' </p><p>The average gross rental yield on buy-to-let hit 5.2 per cent in the second half of 2017 according to BM Solutions - which is part of Lloyds Banking Group and one of the two biggest buy-to-let lenders in the country.</p><p>Landlords in the North of England are reaping the best rewards with yields touching 6.9 per cent at the end of last year. </p><p>Northern Ireland offers an average rental yield of 6.2 per cent, followed by the North West, Yorkshire and the Humber and Wales, all of which offer 6 per cent yields on average.</p><p>Agar said: 'Your traditional landlord is seeing all of these new rules imposed and their returns drop. Meanwhile those new to the market are comparing those returns to what they’d get putting their money into a savings account – and it actually looks pretty good. They’re seeing opportunity, and building the rules, regulations and changes into their business model.</p><p>'Personally, I’m looking forward to a more professional and more prosperous private rental sector, driven by a new breed of landlord investor.'</p><p>As well as being bigger and more professional, the emerging landlord is also investing differently, and diversifying their portfolio, according to Simple Landlord Insurance's report.</p><p>The classic two up, two down home for families of working tenants is no longer where landlords poised for growth are investing.</p><p>Instead, higher yielding properties including holiday lets and flats are becoming more popular. </p><p>Landlords renting out houses in multiple occupation - properties let to more than one tenant on separate tenancy agreements - are also feeling optimistic, with 43 per cent in buying mode and just 4 per cent planning to shrink their portfolios, according to the research.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
s pension before she died so where do we stand now? (Stock image)</p><p>Lawyer Katie Spooner looks at your legal situation, while This is Money columnist Steve Webb explains what happens to pensions in a divorce.</p><p>What will be important to establish, however, is whether 50 per cent of your husband’s private pension has already passed to his first wife’s estate - meaning whether it forms part of her assets, legal rights, or interests and entitlement to assets or property that she has left behind following her death.</p><p>At the point your husband and his first wife separated, they would have each been entitled to claim over the other’s capital, including pensions.</p><p>They would have established what assets they had between them (the matrimonial pot) and how these were to be divided. The division of assets would have been dependent on their particular circumstances, but the starting point following a marriage remains 50:50.</p><p>Ask an Expert: Lawyer Katie Spooner and This is Money columnist Steve Webb tackle question involving divorce, pensions and inheritance</p><p>If it was agreed between your husband and his first wife, or indeed ordered by the court, that she was to have 50 per cent of your husband’s pension, this would have been confirmed in a Consent Order or Order of the Court.</p><p>If your husband has a copy of this order this should confirm his ex-wife’s entitlement.</p><p>Once the court order was made, and if a pension share was ordered, this would then have to be implemented by your husband and his first wife instructing your husband’s pension provider to transfer half his pension into a separate policy for his ex-wife.</p><p>If the court order was not implemented, then your husband’s son would be able to issue enforcement proceedings on behalf of his mother - assuming he is an executor of her estate, but if not whoever is the executor could to do this - to enforce the Consent Order or Order of the Court.</p><p>The general rule is that a course of action, such as enforcing an order that exists at the date of an individual’s death, will survive for the benefit of the deceased's estate.</p><p>This means that if the order that finalised financial matters between your husband and his first wife was still to be implemented at the time of his first wife’s death, her estate could make a claim on her behalf.</p><p>If there is no court order in existence setting out his ex-wife’s 50 per cent entitlement to your husband’s private pension, then there does not appear to be an existing claim.</p><p>Simply because his ex-wife has died without such a settlement does not automatically give their son a right to seek such an entitlement for his deceased mother.</p><p>However, in these circumstances, your husband may want to check his pension policy and the pension rules, and seek specialist advice as to whether his ex-wife still has any entitlement under the policy.</p><p>If his son is under 18 and was still financially dependent on his mother, this would still not give him a right to your husband’s pension but rather he would have a claim under the Inheritance (Provision for Family and Dependants) Act 1975 for provisions out of his mother’s estate if she had not left adequately for him in a will.</p><p>In addition, your husband would need to consider his obligations to his son, and in this regard, his son could apply to the Child Maintenance Service for child support if it is not being paid, and apply under Schedule 1 of the Children Act 1989 for financial support over and above this.</p><p>In these circumstances, and depending on your husband’s relationship with his son, I would strongly recommend he seeks independent legal advice regarding his son’s ongoing care and financial support.</p><p>The steps I would therefore take at this stage are:</p><p>1) Check the existence and wording of any court order finalising financial matters between your husband and his first wife to see whether she was awarded any of his pension;</p><p>2) Check whether any such order was ever implemented, or whether it remains outstanding;</p><p>3) Check the wording of your husband’s private pension policy and the pension rules in respect of his ex-wife’s entitlement to any share; and</p><p>4) Take expert legal and pension advice on the documents listed above.</p><p>I will run through the three main ways that people carve up pensions after a divorce because each one produces a different outcome if someone then dies.</p><p>In some divorces, what happens is that the lawyers will look at all of the couple’s assets – the value of the family home, the value of pensions and so on, and will try to agree on a fair share.</p><p>Rather than cut everything straight down the middle so that each partner ends up owning half a house, half a pension pot and so on, a deal will sometimes be done so that one party gets more of one asset and the other gets more of another asset.</p><p>In such a case it would not matter financially whether either party subsequently died because everything would have been sorted out once and for all at divorce.</p><p>If one party died then they could simply leave their housing wealth, pension pot and so on to anyone they wished. This is called offsetting.</p><p>A second possibility is known as ‘pension sharing’ and is increasingly common. The way this works is that as part of the divorce settlement it is agreed that your husband’s final salary pension will be shared.</p><p>An amount (known as a ‘pension debit’) is taken off the pension he will get and the same amount (known as a ‘pension credit’) is available to the ex-wife.</p><p>One thing which follows from all of this is that whether your ex-husband’s first wife is alive or not has no impact on the amount of pension he gets.</p><p>The pension debit will apply to his pension when he draws it because this has funded the ‘pension credit’ transferred to his ex-wife.</p><p>The ex-wife’s pension pot generates potential payments to her heirs but that is a matter for the trustees of the scheme, who will look at things like a ‘nomination of wishes’ form which she may have filled in indicating who she would like to receive any benefit from the scheme after her death.</p><p>A final option, which was frequently selected in the 1990s but is less common these days is known as a ‘Pensions attachment order’ (or in Scotland as an earmarking order).</p><p>The basic idea is that at the point when the scheme member’s pension comes into payment, a proportion of it is ‘earmarked’ to be paid to the ex-spouse.</p><p>These arrangements are not popular because they do not amount to a ‘clean break’ between the divorcing parties. For example, the ex-wife would have to wait until the husband drew his pension before she started to get anything, and if the husband himself were to die before reaching pension age then the ex-wife would not get paid.</p><p>From your question, it is unclear whether your husband’s ex-wife didn’t get half his pension because she died straight after the settlement, or failed in her claim, or nothing was settled before her death.</p><p>But if your husband’s pension was subject to an earmarking order then I would expect that this would lapse on the death of his ex-wife and he would then get his pension paid in full thereafter.</p><p>However, you should check the specific wording of the order in the divorce papers and take legal advice on this point before making any decisions on the basis of my explanation of how the rules would normally apply.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
and forget about for easy long-term investing.</p><p>But it would be a mistake to lump all exchange traded funds into that bracket, as some of these may track an index but are designed as trading tools - with unusual approaches to drive up returns that mean they shouldn't be held for the medium or long term.</p><p>These esoteric ETFs might seem great when everything is going swimmingly, but can bite investors hard when things turn against them - as illustrated by those invested in funds based on the VIX index, commonly known as a fear gauge, when markets suddenly turned more volatile.</p><p>Margot Robbie's cameo appearance in the film the Big Short was used to explain complicated financial products - but ordinary investors should be wary of them</p><p>The recent plight of the esoteric BetaPro S&P 500 VIX Short-Term Futures 2x Daily Bull ETF, which aimed to double the daily performance of the S&P 500 VIX Short-Term Futures index, was a timely reminder of the dangers of treating all ETFs in the same way.</p><p>The ETF ceased trading on two occasions last month after a series of sharp falls in global markets triggered by the biggest ever points decline in the Dow Jones on 5 February. It is now tinkering with its investment objectives to reduce leverage.</p><p>This will be of little comfort to investors in the fund however. It had returned minus 86.42 per cent over the five years to 28 February 2018 (the latest available data).</p><p>In other words, a £1,000 investment would be worth a derisory £135.80.</p><p>To the unwary the name of the fund might suggests it tracked the mainstream US S&P 500 stock market index, but in fact, its strategy is far more offbeat than that. It follows the S&P 500 VIX Short-Term Futures index - which uses derivatives to reflect market volatility - and magnifies moves twofold.</p><p>Such an ETF is meant to be a trading tool, held by experienced traders for short periods of time. Yet, there were some investors who ended up buying and holding it and suffered big losses when a spike in volatility went against them. </p><p>This ETF is just one of the ETFs that are likely to bamboozle the average investor.</p><p>While a bog-standard ETF is seen by many as a relatively low-risk way to gain exposure to shares, bonds or mainstream commodities, these unusual ETFs offer exposure to more esoteric elements, from volatility to magnified oil or grain futures.</p><p>They can contain a range of risks that aren't immediately obvious. Meanwhile, the acronym and jargon-heavy world of ETF naming and lack of a warning label means they can be easily available to retail investors on many of the big platforms, who might find things can quickly go very wrong.</p><p>In truth, most esoteric ETFs are really not suitable for anyone other than professional traders or big institutional investors.</p><p>This is largely because their value is short-term. Investing with a buy and hold strategy isn't going to work for these funds. In extreme cases their structure means that the market could even move in the direction you want it to, but you still lose out. </p><p>The golden rule when it comes to investments is if you don't easily understand a financial product avoid it. If need be, seek advice before you buy.</p><p>Oliver Smith: It pays not to confuse trading products with investment products</p><p>Not all ETFs are intended to be held for the long-term and many are specifically designed for short-term trading.</p><p>A host of acronyms - ETC (exchange traded commodities), ETP (exchange traded products) and ETN (exchanged traded notes) among them - have sprung up to badge listed products that track an index. </p><p>More esoterically, derivative-based products offer exposure to volatility, and there are leveraged vehicles that aim to enhance returns by using borrowing to go long or short, with up to three times exposure to equity indices. </p><p>With complexity comes hidden risks - how many investors understand the impact of contango before making investments in commodity ETFs, or the erosive powers of daily resetting leverage when looking at a 3x long FTSE 100 ETF, or even how to calculate volatility?</p><p>As you’ll see, it pays not to confuse trading products with investment products. </p><p>Investors need to be wary of some of the more esoteric products and ensure they understand how to use them.</p><p>Definition: A contango occurs when the market thinks the cost of owning a commodity like oil or gold will increase in the future. </p><p>For example, if an airline thinks the price of oil will increase to a point where it may have a serious dent to its bottom line, it might opt to buy oil at an agreed price - that is greater than its current market value - but delivered and paid for later. </p><p>Locking-in the price of oil at an expected future price means that the airlines shield themselves from market volatility.</p><p>Any fund with a number followed by 'x' in its name or the terms 'VIX', 'Inverse'. 'ultra', 'pro', 'short', 'long', 'bull' and 'bear' is likely to be an esoteric proposition and should be approached with utmost caution.</p><p>Where these terms appear, have a closer look at the small print for a better understanding of what the fund sets out to do. </p><p>Remember, if you don't understand a financial product, seek professional advice before you buy. </p><p>While you can physically hold gold and silver bullion, ETFs that invest in most of the other commodities, such as natural gas or oil do not hold the underlying commodity as it is too costly to store. </p><p>Instead they usually own a one month commodity futures contract and steadily roll the contract into the two month future as it comes up for expiry.</p><p>If the price of the two month future trades above the one month future’s price, you suffer a ‘negative roll yield’ from selling low and buying high. </p><p>Someone owning the ETFS Brent Crude ETC (BRNT) over three years (to 19 March, 2018) has lost 15.2 per cent of their investment, while the Brent Crude spot price has risen by 21.4 per cent.</p><p>Many esoteric ETFs should only be held for the short term - or you risk losses ramping up</p><p>An S&P 500 3x leverage daily fund aims to triple the performance of the S&P 500 index on a daily basis.</p><p>Leverage is another tricky area. Surely by owning a 3x long ETF, you could make 3x the return of the market? The good news is you can, but the bad news is that this is only the case over a one-day time period. </p><p>Because the product resets on a daily basis, maths dictates that each time there is a directional change in the market, you will lose some value. </p><p>On day one if the index rose 10 per cent, the 3x leveraged fund would gain 30 per cent. </p><p>However on day two, if the index fell back to 100 (a loss of 9.09 per cent), the 3x leveraged fund would fall from 130 to 94.5, a loss over the two days of 5.5 per cent. </p><p>Over the past year to 19 March, the Boost FTSE 3x Leverage Daily ETP (3UKL) has lost 10 per cent against a decline of 1.4 per cent for the FTSE 100, with 3x the risk.</p><p>With nearly $2billion (£1.42million) of assets, the VelocityShares Daily Inverse VIX Short-Term ETN (XIV) was a money-making machine, going from $6 to $145 over the space of seven years. </p><p>However the product’s holders were effectively wiped out in February when the VIX doubled almost overnight, losing 95 per cent of their investment.</p><p>Compounding the pain, a rule in the small print of the prospectus saw the product delisted shortly afterwards.</p><p>The Big Short brought short-selling to the mainstream, but investors have been shorting companies for decades.</p><p>Going short, to back a belief that a market, company or asset will fall in value, has traditionally been the preserve of sophisticated and professional investors, but nowadays those with modest sums can do it with low-cost passive instruments called inverse ETFs.</p><p>Like the strategies mentioned above, inverse ETFs are are designed only for the short-term, as a market timing or hedging strategy, because history shows us that markets have a knack for growing over the long-term and the way they are structured means costs build up over time.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
c outlook for the United States in 2018 and foresees a strong year for the global economy as well. But its chief economist warns that the prospect of an escalating trade conflict "threatens to undermine confidence and derail global growth prematurely."</p><p> The IMF predicted Tuesday that the U.S. economy will grow 2.9 percent this year, up from the 2.7 percent it had forecast in January and from the 2.3 percent growth the economy achieved last year. The U.S. economy will enjoy a boost through 2020 from tax cuts President Donald Trump signed into law in December, the IMF predicts.</p><p> The lending agency kept its forecast for worldwide growth this year at 3.9 percent, which would be its fastest pace since 2011. The world's major regions are expanding in unison for the first time in a decade, aided by low interest rates and a revival in global trade. The IMF expects trade to grow 5.1 percent this year, which would be the fastest pace since 2011.</p><p> Maurice Obstfeld, the IMF's chief economist, warned in prepared remarks that the economic gains the agency foresees face a rising risk from "escalating tensions over trade." Trump, who campaigned on a pledge to protect U.S. industries from what he argues is unfair foreign competition, has slapped tariffs on steel and aluminum imports. He has also proposed imposing tariffs on $50 billion in Chinese imports to punish Beijing for its aggressive attempts to obtain foreign technology.</p><p> China has countered by proposing tariffs on $50 billion in U.S. products, including soybeans — a highly valuable export for America's farm belt — and small aircraft. Trump has, in turn, ordered the U.S. trade representative to consider targeting up to an additional $100 billion in Chinese imports.</p><p> The prospect of a trade war between the world's two biggest economies has rattled financial markets for weeks. For now, though, the global outlook remains sunny, thanks to low borrowing rates and increasing trade and investment.</p><p> The IMF upgraded its forecast for the 19-country eurozone to 2.4 percent — which would be its best showing since 2007 — and up from the 2.2 percent it predicted three months ago. The eurozone, which emerged only slowly from its 2011-2012 debt crisis, is expected to benefit from continued low rates.</p><p> China is projected to grow 6.6 percent this year, decelerating from 6.9 percent growth in 2017. The world's second-biggest economy is attempting a transition from super-fast growth based on often-wasteful investment to slower but steadier growth built increasingly on consumer spending.</p>