Investors' Chronicle

This week’s show dives straight into Elon Musk’s SpaceX as it gears up for the biggest IPO in market history. We consider what newly released financial details reveal about the company, and whether a mooted $1.75tn valuation is a sign of market madness. Alex Hamer has the detailsComing back down to earth, we take a look at Pets at Home. The FTSE 250 retailer has struggled with a mixed outlook and regulatory scrutiny for several years now. But with a former Waitrose boss now in charge, and underlying markets starting to improve, things could be looking up. Valeria Martinez tell us what’s going onLastly, with the publication of the UK’s 10-year defence spending plan imminent, Michael Fahy examines recent numbers from UK manufacturers Qinetiq and Cohort, and delves into what the future holds for the companies and the wider sector.Read more:SpaceX’s blast-off could burn investorsPets at Home profits hit by retail price cutsTimestamps00:00 Intro01:03 SpaceX19:14 Pets at Home28:00 DefenceListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

Leaving the stability of a full-time job to become self-employed is a truly daunting decision. Gone is the safety net of a monthly pay cheque, and if you want to start your own company, the pressure can feel monumental. In this episode of Women and Wealth, funds editor Val Cipriani sits down with Felicia Hjertman, head of investments at Monument Bank and former founder of an investment platform, to dive into entrepreneurship and investing.Felicia walks through everything from starting a business, the challenges of raising money as a woman, and the emotional and financial realities of managing, and then eventually closing, a company. The pair also discuss why many women can feel excluded from the world of investing, and offer solutions on how to navigate any apprehensions.If you have any questions you’d like Val to answer, email womenandwealth@ft.comTimestamps00:00 Introduction00:57 Starting a business16:24 Fundraising27:00 The gender investment gapWomen and Wealth is the monthly podcast series from Investors’ Chronicle. You can listen and watch the episodes, alongside our other podcasts, Acast, Apple, Spotify or YouTube

With food prices in the spotlight as Rachel Reeves pushes supermarkets to cap costs for consumers, this week’s show starts further up the supply chain with pork and poultry producer Cranswick. The company reported another strong set of results, and Mark Robinson talks through the details.Discussion then turns to this week’s Big Read on picking the perfect pension provider. In a week when the Pensions Commission outlined big gaps in the nation’s savings, it’s poignant to discuss what investors should consider when choosing a savings account. From charges to investment options, selecting the right home for your savings is vital. Helen Kirrane explains what to do.Finally, we cast our ears to palm oil producers in Indonesia, a country already feeling the impact of higher prices and where mooted export controls hit the industry this week. Julian Hofmann gives us the details on MP Evans and AEP Plantations.Timestamps00:00 Intro01:07 Cranswick13:07 How to pick a perfect pension pot23:13 Palm oil plantations Listen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

This week’s show kicks off with a look at FTSE 100 Reit Land Securities, which reported full-year figures. It is still shifting away from offices in favour of shopping centres and residential developments, but with gilt yields spiking again this week, will it remain a victim of circumstances beyond its control? Hugh Moorhead dives into the details. More updates on that hereDiscussion then turns to Vodafone – its annual results were met with a mixed reaction, but its turnaround plan has found favour over the past year and continues at pace. Alex Newman and Dan Jones discuss whether doubling down on the UK and Africa makes sense. More on Vodafone hereTo conclude, we delve into our Big Read , which, in the face of current geopolitical uncertainty, outlines five portfolios for five possible futures. Julian Hofmann explains why investors should consider scenario planning rather than predictions, and outlines what some of these different eventualities will mean for a range of investments.Read more here: Landsec struggles to convince on new strategyVodafone moves forward with greater clarityFive ways to invest during turbulent timesTime stamps00:00 Intro01:08 Land Securities09:41 Vodafone21:29 How to shield your portfolioListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

PZ Cussons, known for brands such as Imperial Leather, Carex and Original Source, has been around for more than a century, but its shape and focus today are very different from its origins.The FTSE 250 consumer goods giant is focusing on core brands and expanding overseas, and owns market-leading products in a host of countries around the world.But M&A deals, both good and bad, have meant there are questions to be asked around the company’s strategy, balance sheet and future priorities, all of which Alex Newman and Lord John Lee put to CEO Jonathan Myers.The trio discuss PZ Cussons’ expansion overseas, its share price valuation, where it can save costs, the stake owned by one of the founders’ families and much more.Let us know your thoughts, or if you have any questions or any suggestions for future guests, by emailing alex.newman@ft.comListen to more podcasts from Investors’ Chronicle by clicking here or heading to Apple, Spotify and YouTubeTimestamps00:00 Intro00:49 What is PZ Cussons?02:56 Lord Lee's involvement06:33 Strategic review10:31 Offers for African business13:39 Value of the brands16:02 Is the valuation low?19:34 Innovation and building new brands24:32 Manufacturing efficiencies27:02 Impact of Iran War29:48 Shareholder register31:15 Involvement of family owners40:08 Confidence in future outlook

As potential jet fuel shortages unnerve summer holidaymakers, airlines have been reporting shaky demand as people hold off from booking trips. But what of the hoteliers? In this week’s episode, we discuss the quarterly update from InterContinental Hotels (IHG), owner of Holiday Inn, as well as recent figures from Premier Inn owner Whitbread (WTB). Mark Robinson explains why the picture is brighter than many fear, and how long he expects that to continue.We then talk through the latest figures from drinks giant Diageo (DGE), which has found life very hard for some time now. But with a dividend cut out the way, its CEO, former Tesco boss Sir Dave Lewis, is due to outline his new strategy this summer. Are things looking up? Or is it too soon to say for the Guinness maker – Mark has the answers. More on Diageo hereFinally, we tackle this week’s Big Read, asking the fundamental question for any investor – how to pick a fund. Val Cipriani explains our five-step guide, giving you a checklist of things to look for, mistakes to avoid, and more.Read more here:Our five-step guide to picking the best fundsShares soar on (another) Taco feastInterContinental reports rising revenues, but travel concerns lingerTimestamps00:00 Intro01:13 Hotels14:09 Diageo22:24 Fund selectionListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

The F&C Investment Trust (FCIT) is as close to a household name as a fund can be. Founded in the 19th century, its global stocks “one-stop shop” nature has made it a favourite for investors for decades, and despite changing managers and fund houses, it’s remained true to its aim.Val Cipriani sits down with current manager Paul Niven, who discusses the trust’s approach to using other fund managers, where he sees value in stock markets, the pros and cons of a concentrated portfolio and why, despite cutting back on US companies, he believes there’s still value to be found.Timestamps00:00 Intro00:21 What is F&C01:45 How the trust is structured05:01 Use of 3rd party managers7:31 Trying to beat the benchmark10:02 Why F&C is so diversified14:21 Reacting to the war in Iran20:32 Is the market too optimistic?22:46 Emerging markets25:17 Trends away from the US28:05 Magnificent seven32:05 Nvidia35:11 Private equity42:15 Software exposure and AI disruption

It’s the end of April, and a reopening of the Strait of Hormuz is looking further away than ever. Its closure looms large over everything else at the moment, and risk asset investors are starting to worry for the first time in several weeks. However, there are still signs of life across the market. In this week’s episode, we look at some of those rebound stories and discuss whether recoveries can persist in the face of ongoing stress. Michael Fahy discusses the electronics sector – companies such as Renishaw, Oxford Instruments and XP Power, which are belatedly starting to benefit from supplying the semiconductor industry.We then move to this week’s Big Read on electricity and electrification. Could the defining, if sometimes forgotten, story of the past century be the characterising feature of this century, too? Alex Newman has the answers.Finally, Julian Hofmann talks about chemicals supplier Synthomer, whose refinancing and improved full-year figures provide the first signs of recovery. It also had some interesting comments to make about the Iran War.Timestamps00:00 Intro01:13 Electronics companies12:06 Electrification32:37 SynthomerListen to more podcasts from Investors’ Chronicle on Apple, Spotify and YouTube

Choosing your first stocks and shares Isa can be overwhelming. There are apps, brokerages and dozens of providers, all claiming to be the best. In this episode of Women and Wealth, funds editor Val Cipriani and personal finance editor Holly McKechnie walk you through how to choose the right one for you, whether you're investing for the first time or moving beyond cash savings.They explain everything from what beginners should look for, which fees really matter, the differences between providers and the common mistakes to avoid. This episode will get you started on the path of investing, with Investors' Chronicle your handy guide as you grow your portfolio.*At the time of recording, AJ Bell charged a trading fee for regular investing. The provider has since announced that this will be scrapped from May.Women and Wealth is the monthly podcast series from Investors’ Chronicle. You can listen to and watch the episodes, alongside our other podcasts, on Apple, Spotify and YouTube.