Business Weekly
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 13 February 2021
⏱️ 49 minutes
🧾️ Download transcript
Summary
On this episode of Business Weekly, we examine the world of amateur traders. One in five Americans now play the stock market, but there are warnings that inexperienced traders could be caught out. Also, we take a look at the new space race. Commercial enterprises are vying to see who can get the most satellites into orbit in order to provide internet connectivity to some of the world’s poorest and most rural regions. In the week when Bumble made its market debut, we hear how dating apps are faring during the pandemic. And we chat to the man who provides books for home offices so his clients can seem well-read on video conferencing calls. Business Weekly is presented by Lucy Burton and produced by Matthew Davies.
Transcript
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| 0:00.0 | Hello and welcome to Business Weekly with Lucy Burton, where today we'll be looking to the stars and boldly going where no radio program has gone before. |
| 0:14.4 | Okay, bit of an exaggeration. But we will be taking a closer look at the new space race. Unlike 60 years ago, it's not about which |
| 0:23.3 | country has the biggest rocket. Now it's all about which multi-billionaire has the deepest pocket. |
| 0:28.9 | And the 21st century mission isn't to put men on the moon, but satellites into orbit. We'll also be |
| 0:35.6 | talking love, as this week the dating app Bumble floated on the |
| 0:39.2 | NASDAQ. Just how have dating apps fared during lockdown? And we'll meet the man who's making money |
| 0:44.9 | creating bookish backgrounds for Zoom. First, though, it is a quintessence of academic learning |
| 0:50.2 | and a paragon of fraudulence. That description of the stock market was written in the 17th century, |
| 0:56.2 | but it could be applied to 2021. Last month, apparently amateur investors bought shares in the |
| 1:02.6 | ailing video and game store company GameStop, causing its shares to jump 700%. The rationale posted on |
| 1:09.9 | internet sites like Reddit was to thwart Wall Street shortsellers. |
| 1:13.9 | Global market watchdogs went on high alert and warned investors to take care in a volatile trading |
| 1:18.8 | environment. At the same time, the owners of the trading app Robin Hood are being sued by the family |
| 1:24.3 | of a young man who took his own life last year. The parents and sister of |
| 1:27.8 | Alex Kearns alleged the app uses aggressive tactics and strategy to lure inexperienced and |
| 1:33.5 | unsophisticated investors. Robin Hood says it was devastated by Alex's death and has introduced |
| 1:39.6 | more support for customers. But as figures suggest, one in five Americans are now playing the stock market, |
| 1:46.2 | just what is driving amateur traders and are the trading apps they use here to stay? |
| 1:51.2 | Sasha Twining's report begins with an amateur trader who are calling Andy. |
| 1:55.2 | For me, it started as, you know, just a cheeky punt. It seems like a socially distanced way of being an activist. |
| 2:05.6 | Have you done anything like this before? Have you ever done share trading before? Have you ever looked at the stock market before? |
| 2:12.5 | Not particularly. And the thing is, all the knowledge I have, it's regurgitated to me from Wall Street |
... |
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