March 2017, what a month it has been. Long and eventful. March 2017 was the month the United Kingdom triggered Article 50 and decided to leave the 44-year old partnership with the rest of the European Union and go it on its own. It has also been the month that led to major car manufacturers to go forward together, Peugeot acquired Opel from General Motors, while the London Stock Exchange and Deutsche Börse were not allow to merge. Bad timing, as there are an estimated £ 721 billion ready to be invested, even though the Fed now makes it easier for savers to earn some money in savings accounts by raising the interest rates again. If you are wondering how many people are actually choosing investing over saving, the figure is very low with only a mere 12% of trades on the London Stock Exchange being submitted by individual investors.
On an entrepreneurial note, apparently it's inspiring to live in a remote area with cows. Two guys from Limerick, Ireland, managed to score big time by learning to code, because cows were one of the main attractions where they lived. Similarly successful: women. Especially those who run their own businesses. An ever increasing number is becoming billionaires. One female entrepreneur is on her way by selling handbags inspired by teddy bears.
Finally, Bitcoin is becoming an ever more influential and important alternative to existing currencies and investments. Now the value of a Bitcoin has even overtaken gold.
31 days, 10 interesting stories. Enjoy this month's summary of the most interesting events of March 2017:
1. Let's start with the most impactful and historic event of March 2017: Theresa May, the Prime Minister of the United Kingdom triggered Article 50 to set in motion the departure from the European Union. The letter was delivered just shortly before 1.30pm Brussels time to EU Council President Donald Tusk. Here the actual letter sent to the European Union.
2. The merger between the London Stock Exchange and Deutsche Börse was blocked and the decision by the EU commission announced the same day Article 50 was triggered.
3. On a financial note, yet still UK related: a mindblowing £ 721 billion are tucked away in low interest savings accounts or under the mattress. Money that isn't working.
4. While some split, others decide to go forward into the future together. Peugeot acquired Opel and Vauxhall from General Motors for € 2.2 billion.
5. The Federal Reserve announced it and delivered on their promise. US rates were again raised in March 2017.
6. In the words of Coach Carter: these are some interesting stats for your ***: Apparently more than half of the shares traded on the London Stock Exchange in the Sixties were handled by individual investors. Today this number is down to 12% with most trades being conducted by institutional investors.
7. Maybe if I had lived in a more remote area, I also would have learned to code. Check out these two guys in their late twenties who have joined the ranks of tech billionaires, because they were bored and only had cows to entertain them when they were young.
8. You don't have to be young to score big financially. Women are catching up with men in all areas of life and now more and more women are joining the ranks of the rich and financially successful, particularly if you are a self-employed woman.
9. Maybe this is one way of joining the billionaires of this world. This female entrepreneur has taken inspiration from teddy bears to build a successful handbag business.
10. Some news on the ever more powerful and influential Bitcoin. For the first time the value of a Bitcoin has overtaken the price of gold.