The Notebook: Looking east for opportunity

Wall Street has been on a euphoric march upwards, as investors have taken a distinctly glass half-full attitude to Trump’s upcoming presidency. The focus has been on his promised tax cuts and de-regulation drive, while they’ve largely shrugged off the potential ramifications of his punishing tariff plans for the US and the global economy. There is speculation that the bruising duties he has outlined are just a gauntlet thrown down to spark the start of negotiations, rather than a considered policy map. There are hopes that his America First policy will lead to fresh pledges to buy USA. But in the longer-term America risks more isolation as trade maps are redrawn. Chairing the Global Freight Summit in Dubai as fresh trade threats landed was a highly interesting seat to be in. The talk on stage among business and political leaders from across the globe was about creating new allies, forging new partnerships, and mapping out new trade routes. They certainly won’t be standing still waiting to consider what defensive position to adopt, and many are increasingly looking East for opportunity.

Lessons from Widow Clicquot

Trade sands are clearly shifting and for some, the challenges look insurmountable. But we’ve been here before, so many times in history. War, fractious geopolitics and trade disputes are not new, and some leaders embrace change more than others. I highly recommend watching the film Widow Clicquot, with an obligatory glass of festive fizz in hand, to toast the vision, tenacity, and adventurous spirit of Barbe-Nicole Clicquot Ponsardin more than two centuries ago. She took over the champagne house aged just 27, during the Napoleonic wars, and saved it from ruin. She was forced to find new trade routes amid conflict and embargoes, had to deal with a finance drought, fragile supply chains and cold storage problems – all issues facing today’s firms. But she succeeded – and turned Veuve Clicquot into one of the most powerful champagne houses in the world.

Quote of the week:

It never occurred to them you would succeed. That you would fight so very hard for every bottle.

Widow Clicquot

Cheers to Financially Fearless

It was fitting that among the drinks being poured at our recent Financially Fearless event in London was Veuve Clicquot, a welcome but coincidental homage to Barbe-Nicole. The room was full of inspiring women and allies, keen to find out how we can bridge the gender pay, investment and pensions gap and boost resilience in later life. For far too many people, especially women, investing is still considered the great unknown. The campaign aims to empower people to start thinking about their financial futures, take bigger leaps on the career path and introduce them to financial markets.  It’s great to see it is already making such a difference, with the community growing day by day.

Glühwein shine for hotels

‘Tis the season for Glühwein and German Bratwurst. The Christmas market craze is coming to a town near you, and it seems tourists can’t get enough of them. On HL’s Switch Your Money On Podcast this week, Jane Pendlebury, CEO of HOSPA – the hospitality professionals association told us that Christmas markets are the bright spot amid quite a tough time for the sector. Hotels putting up visitors who flock to replica chalets for oversized sausages and a steaming mug of the sweet stuff are doing a brisk trade. Although plenty of locals appear less than enamoured with the proliferation of Bavarian traditions taking over their streets.

The alternative Christmas party

The drinks may not be flowing quite as freely at the company Christmas bash this year. Big December party bookings have dwindled for hotels, and it’s not just the cost which may be putting companies off. Last year’s Worker Protection Act came into force in October and places a legal duty on employers to take reasonable steps to prevent sexual harassment in “the workplace”, which legal insurance experts ARAG have pointed out, can include the company Christmas bash, wherever it’s being held.

Instead of trying to work out how staff might find an escape route from a pestering colleague, increasingly escape rooms are being booked as an alternative activity. Our festive get-together is being held in January, a refreshing and welcome change, given that most of my December evenings will be spent making sure Santa delivers all the right surprises.

Susannah Streeter is head of money and markets at Hargreaves Lansdown