NatWest chief executive Paul Thwaite said some sectors showed signs of improving
There are signs of growing optimism in Scotland’s mid-market firms, according to the boss of the company that handles much of their money.
Royal Bank of Scotland, part of NatWest Group, says travel and tourism are showing notable signs of improvement in their outlook, despite the increased cost of payroll tax and the minimum wage.
Another shaft of brighter sunlight comes from technology and telecoms – but for manufacturing, June brought another month of negative figures.
Paul Thwaite, chief executive of the NatWest Group, is referring to the firm’s monthly business monitor, which draws on data from its customer base.
That includes more than 100,000 Scottish business accounts.
The chief executive is in Scotland for two weeks to hear from those customers and from some of his 11,500 staff north of the border, covering bigger cities and a visit to Orkney.
Paul Chappells/NatWest Group
Paul Thwaite (middle) visited Whitelee wind farm near Eaglesham as Scottish Power banks with NatWest
On Friday, he visited the windfarm near Eaglesham built by one of the bank’s bigger clients, Scottish Power.
At an accelerator unit for business start-ups, overlooking Glasgow’s iconic statue of Wellington with traffic cone, he heard from the companies using NatWest facilities and offered advice to take their ideas to the next stage and beyond.
In one such group, all of them agree that they have to go to London for finance.
Aditya Mahapatra, 21, is fresh out of St Andrews University with an economics degree.
For four years, he’s been running his company, Augmentum, that links health and wellness firms with influencers. Almost all of his staff have to be in London.
It’s a charge also levelled at NatWest. With its name change from Royal Bank of Scotland, only retaining that brand for Scottish customers, this felt like confirmation that executive power resided in London.
Thwaite, 53, is from Liverpool and a graduate of Manchester University.
He is married to a Fifer and worked in Edinburgh during his 30s. So he’s alert to the risks of seeming too London-centric, reeling off the stats that suggest otherwise.
“Two million retail customers or households, one in three businesses, almost a third of all of our UK staff,” he says.
“That gives you a sense of the importance of Scotland to the NatWest Group. We are very committed.”
That may become more apparent in 2027, when Royal Bank of Scotland marks its 300th anniversary.
There’s thought already going into telling that story of heritage, while trying to look to the future.
This marks two years since he was phoned in the middle of the night with the chairman’s invitation to take on the top job.
PA Media
Thwaite stepped up to the top job after Dame Alison Rose quit in 2023
Dame Alison Rose, had been forced to quit, after discussing the personal account of Nigel Farage with the BBC’s business editor.
That unhappy incident is not, says her successor, the reason why he’s kept a low public profile, saying little to the media beyond discussion of NatWest’s financial reports.
His people tell me this is his first broadcast interview other than those quarterly results days. It’s for radio and online but he’s not for talking on camera.
The most recent such results day, covering the first half of this year, had a strong set of figures.
Pre-tax operating profit was up 18% on last year, to £3.6bn. The bank’s share price is looking a lot perkier.
Having been paid nearly £5m last year, it could see the chief executive get closer to his bonus-laden potential of £7.8m this year.
With guidance to markets that the next set of figures will be better than expected, Thwaite argues that his strategy – disciplined growth, simplification and a focus on risk management – is proving right and paying off.
And while he would prefer to talk about the future, the memory of another of his predecessors, Fred Goodwin, is stalking the Edinburgh International Festival as a morality tale and tragedy, borrowing from ancient Greece, of greed, power, pride and nemesis.
The play examines the banking disaster that brought RBS to its knees
With screen star Brian Cox in a leading role on stage and in Festival publicity, it’s hard to avoid the reminders of the Fred Goodwin story, nearly 17 years on.
“It was relatively early in my career,” Thwaite recalls. He was working in Edinburgh, with UK business customers.
“I didn’t know Fred personally. The bank had expanded significantly during that time. And the UK bank was actually not dissimilar to what it is now – a very strong retail bank, a very strong business bank.”
And a very bloated and vulnerable international and investment bank.
“I was shocked and surprised,” he said.
“What it taught me was how important a role banks play in the economy and for customers, and when things go wrong how impactful that can be on communities, on society and on countries.
“Those who were young and in financial services at that time, and I include myself, have been shaped by the financial crisis.
“The way we think about banking now, how the regulators and government think about banking is very different.”
Thwaite added: “I feel a great sense of responsibility to ensure that the bank is run in a thoughtful, safe, informed way… to learn the lessons from the past and run the bank really well for our customers and also for our colleagues, because they have been incredibly loyal over the last 16 or 17 years, for which I’m very grateful.”
Paul Thwaite will meet with staff across Scotland over two weeks
Just over a fifth of staff have remained with RBS/NatWest since the crisis.
For them, he says, the sale in May of the final tranche of UK government shares, having once held 82% of them, was an important symbolic moment.
That doesn’t change the strategy, but it does give the bank more vulnerability to takeover bids and more freedom to take over others.
Recent acquisitions have included parts of Sainsbury’s Bank and Metro Bank.
With further mergers and acquisitions ‘probable’, Thwaite says NatWest’s market valuation is a deterrent against predators.
More opportunities to acquire would be approached carefully and in a disciplined way, and would have to beat the return on internal opportunities to invest, in technology for instance.
Branch closures
Artificial intelligence carries a threat to finance sector jobs, but the bank boss says it’s being used to do routine tasks that free up staff time for talking with customers, while helping to root out fraud and financial crime.
“For AI, it’s still relatively early days,” he says. “I see it as complementing our brilliant colleagues, but I think we’ll know more over the next five or six years.”
There’s a block on further branch closures, but only until next year. Now down to 68 Scottish branches plus bank vans, Thwaite sounds keen to retain that visibility.
“The successful banks of the future will combine very strong physical presence and service from bank colleagues at real moments of truth – whether that’s buying a home, buying a business, buying new premises, but combined with brilliant digital experience, because our customers want and expect that.
“I think it’s important we play a very active role in communities and I want our people to be visible and effective in them.”
With that, he’s off to Aberdeen and Orkney, to see the islands’ flying branch and to listen to the oil and gas sector.
Higher tax weighs heavily on his customers, he says, as does the threat of further increases at the next Westminster budget.
“That’s definitely in business owners’ minds and at board tables,” he says, with a message for Chancellor Rachel Reeves.
“The role of business, the role of financial services needs to be at the heart of that growth agenda.
“Our role is to ensure that we’re supporting businesses who have growth aspirations, and I think it’s very important that the policy agenda is supportive of that.”
China wants the United States to ease export controls on chips critical for artificial intelligence as part of a trade deal before a possible summit between presidents Donald Trump and Xi Jinping, the Financial Times reported on Sunday.
Chinese officials have told experts in Washington that Beijing wants the Trump administration to relax export restrictions on high-bandwidth memory (HBM) chips, the newspaper reported, citing unnamed people familiar with the matter.
The White House, State Department, and China’s foreign ministry did not immediately respond to requests for comment on the report.
HBM chips, which help perform data-intensive AI tasks quickly, are closely watched by investors due to their use alongside AI graphic processors, particularly Nvidia’s NVDA.O.
The FT said China is concerned because the US HBM controls hamper the ability of Chinese companies such as Huawei to develop their own AI chips.
Successive US administrations have curbed exports of advanced chips to China, looking to stymie Beijing’s AI and defence development.
While this has impacted US firms’ ability to fully address booming demand from China, one of the world’s largest semiconductor markets, it still remains an important revenue driver for American chipmakers.
Cycling is one of the most rewarding activities around. It’s good for your physical and mental health, offers a carbon-free way of getting from A to B, and can often be the quickest and most cost-effective form of transport – particularly if you live in a city.
Once you’re hooked, there are a few bits of kit that will improve your experience immeasurably, whether that’s comfortable clothing to curtail chaffing, or a water bottle to help you hydrate without stopping. In summer, the longer days and generally favourable conditions mean you can forgo additional accessories such as bike lights, mudguards and head-to-toe waterproofs – although they can’t be avoided forever if you become a year-round, all-weather rider.
Another bit of good news is that while cycling has a reputation for being an expensive pursuit, it doesn’t have to be, and many of my favourite bits of kit have more affordable price tags.
In the almost three decades since I set off stabiliser-free for the first time, I’ve dabbled in all types of cycling – from a teenage fling with BMXing to inner-city commuting and ultra-distance off-road escapades. In that time, I’ve tested all manner of clothing, tools and accessories, pushing them to the limit during races, events, training rides and the daily grind. Here’s my favourite gear that I reach for before setting off on a summer ride.
Summer cycling essentials
Jersey
Although it performs a similar function to a generic sports base layer, a jersey is the first “proper” bit of cycling gear worth investing in because of the additional comfort it offers. Made from a lightweight, breathable fabric, a jersey will wick away moisture from hotspots, while a full-length zip means you can “ventilate” on the go. Three rear pockets store essentials such as food, tools and a phone, and unlike a running or gym top, the cut is slightly longer at the back for extra coverage when riding leant forward.
My favourites, which perform well without breaking the bank, are Italian-designed Sportful SRK, which includes an extra zipped compartment for keys; the 100% recycled Rapha Core; the DHB Blok and its women-specific range, Moda; and the sub-£40 Madison Flux, which comes with a lifetime guarantee.
Rapha Core women’s jersey
From £55 at Rapha
Sportful men’s SRK jersey
£48.75 at Sportful
DHB Moda women’s short-sleeve jersey 2.0
£55 at Sports Direct
DHB Blok men’s classic short-sleeve jersey
£55 at Sports DirectFrom £109.99 at Amazon
Madison Flux men’s short-sleeve jersey
£33.99 at Fawkes Cycles£35.99 at Cycle Store
Shorts
Bib shorts might seem like an indulgent (and expensive) purchase, but you get what you pay for – and your nether regions will let it be known if you’ve skimped. Fitted with a saddle-shaped section of foam in the crotch (known as a chamois), the shorts add an extra layer of padding beneath your perineum that keeps the area dry and cushioned on long rides. Just don’t wear underwear, as this can negate the benefits. The straps may make the item resemble a wrestler’s singlet, but they keep the shorts in place more comfortably than a waistband, which can dig in over time. As the male and female anatomy are quite different down there, it’s worth opting for a gender-specific set.
Albion’s ABR1 are my go-to for ultra-distance exploits, arriving with handy pockets on each thigh and one at the rear for extra storage. The Gregarius Essential from Q36.5, meanwhile, are soft and supportive against the skin, and breathable too.
And for women, “Petrichor Projects’ PP002 offer unbeatable comfort, with a cargo pocket, easy-pee design and sleek aesthetics,” says Katherine Moore, author of Gravel Rides South West England, who also recommends Velocio’s Luxe line for all-day epics. “They’re made from a super-soft, compressive material with a built-in base layer front and lovely raw-finish leg hem. A thicker-style chamois pad is the go-to for longer rides.”
Albion ABR1 men’s pocket bib shorts
£185 at Condor Cycles
Q36.5 Gregarius Essential bib shorts
£140 at Q36.5
Petrichor Projects PP002 women’s bib shorts
£169 at Petrichor Projects
Velocio women’s Luxe bib shorts
£217 at Velocio
Undershorts
If you’d rather cover your modesty with a normal set of shorts, then opt for a pair of undershorts instead. Secured at the waist, rather than the shoulders, this padded set from Endura will soften the sting of any terrain (as I found out when mountain biking in Colorado), while the stretchy mesh fabric minimises the buildup of sweat, even when worn under non-technical clothing.
Endura men’s padded Clickfast liner shorts
£24.99 at Tredz£32.99 at Endura
Endura women’s padded Clickfast liner shorts
£21.99 at Merlin Cycles£29.99 at Endura
Cap
Cotton caps were originally designed to protect bare heads from the sun, although today’s peloton professionals will rarely wear one. Since you’re unlikely to be chasing every watt on your commute, though, a cycling cap under your helmet is a good way to shield from the sun or take off the chill on cooler mornings, all while adding a splash of colour to your riding wardrobe. Prendas specialises in vintage cotton caps, with the Mapei design of the 90s and early 00s team one of the loudest around. The Giro d’Italia-inspired cap from the General Classification is a bit more subtle but oozes style.
Mapei retro cotton cycling cap
£11.99 at Condor Cycles£18.55 at Amazon
Tour of Italy cotton cycling cap
£19.95 at the General Classification
Helmet
Helmets are a source of contentious debate, but if you want a model that goes above and beyond the EN1078 European standard (which every cycling helmet sold is required to pass by law), the ARO3 Endurance by Oakley is a good choice. It includes an internal Mips (multi-directional impact protection system) layer, which can move independently of the outer shell in the event of a crash, helping to protect the brain. Its 19 vents keep the air flowing even on the warmest days, and the antimicrobial liner minimises odour, ride after ride.
Oakley AR03 Endurance Mips helmet
From £78.99 at TredzFrom £73.99 at Amazon
Socks
Although your feet are fairly static when riding a bike, all of those revolutions will soon have you working up a sweat inside your shoes. Any sports sock will do the job, but a cycling-specific pair will be much more comfortable, providing ventilation on the tops of your feet and padded toes to support every pedal stroke. Like caps, socks can enable you to add a splash of personality, and the fluoro finish of Aussie brand Maap’s training sock is sure to get nods of approval at the traffic lights.
Maap training sock
£18 at Cycle Project Store£15 at All4cycling
Sunglasses
Oversized sports sunglasses are a must-have fashion accessory this summer, but if you’re more interested in conquering hills than the catwalk, you should prioritise a set that provides good coverage against sun, rain and unsuspecting insects – as well as ventilation to prevent you from fogging up.
Decathlon’s Van Rysel brand is renowned for its premium products, and its RoadR 900 shades can stand up to models from Oakley for a fraction of the cost. This pair comes with a photochromic, UV-filtering nylon lens that automatically adjusts depending on the sun’s intensity, meaning no need to swap between lenses and cover them in grubby fingerprints in the process. The lens has also undergone an oil-repelling treatment that helps rain and road spray run from its surface.
Decathlon Van Rysel RoadR 900 Perf sunglasses
£74.99 at Decathlon
Insulated water bottle
Most riders will need to drink at least 500ml of fluids an hour when cycling, and even more if it’s hot. You can use any water bottle, but a bidon comes with an easy-to-open valve that allows you to refresh as you ride, so you don’t need to stop to unscrew any lids. The Camelbak Podium is a time-honoured design that can carry up to 710ml, allowing you to ride for longer without running dry, and its insulated version keeps contents cold.
Camelbak Podium water bottle
£9.49 at Tredz£10.99 at Halfords
Sports-specific sunscreen
Road cyclists take pride in their tan lines, but protecting your skin is more important than chasing a golden glow. A sports-specific sunscreen will handle sweat better than an everyday cream, and Ultrasun’s Sports Gel does the job without leaving any greasy marks on your clothes. The fast-absorbing gel is easier to apply than a spray, and means you can quickly see whether you’ve covered all your exposed skin before setting off.
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Ultrasun sports gel SPF30
£22.40 for 200ml at Look Fantastic£22.40 for 200ml at Sephora
Phone mount
Instead of forking out for a dedicated cycling computer for navigation and tracking, your phone can perform a similar function if you arm it with the right apps (see below). To keep an eye on directions or distance covered, you’ll want to attach it to your bike front and centre with a mount on your stem (the part that joins your handlebars to your fork). Quad Lock’s offering might look simple, but its twist and dual-lock system means you can trust it will hold your phone in place, and the included cable ties will fix it firmly to your bike.
Quad Lock Bike Mount Pro stem mount
£19.99 at Tweeks Cycles£22.99 at Amazon
Quad Lock Mag case for iPhone
£31.99 at FreewheelFrom £31.99 at Amazon
Cycle enough and you’ll eventually come a cropper with a mid-ride mechanical. A puncture is the most common culprit, so it’s a good idea to arm yourself with the tools and knowhow to fix one. Tyre levers and a pump are a must, and carrying an inner tube or two that are the same size as those installed on your wheels will be the quickest fix. A puncture-repair kit is always a good backup too.
For other issues, such as loose fittings or a broken chain, Crankbrothers’ pocket-sized F16 multitool has the hex bolt bits to get you out of most scrapes. If you have any carbon fibre components, Topeak’s Ratchet Rocket Lite NTX+ includes a torque gauge to stop you overtightening (and damaging) your bike.
Crankbrothers F16 Multitool
£50.38 at Rare Waves£54.54 at Tweeks Cycles
Topeak Ratchet Rocket Lite NTX+
£60.65 at Halfords£59.99 at Amazon
Pedro’s tyre levers
£8.99 at Amazon
Decathlon inner tube repair patch replacement kit
£1.99 at Decathlon
Lezyne V2 ABS pressure-drive hand pump
£29.89 at Tweeks Cycles£29.99 at Halfords
Anti-chafe cream
A solid pair of shorts will go a long way to helping you avoid saddle sores, but applying a layer of chamois cream to the area pre-ride is a belt-and-braces approach. You need to apply only a small amount of this cooling, rehydrating formula from Assos to keep everything supple and chafe-free – even after 12 hours in the saddle.
Assos chamois creme
£22 at Condor Cycles£22 at Tiso
Bag
There’s a cycling bag for every type of ride – from panniers perfect for the daily grind to the office, to big bikepacking setups that could survive a round-the-world expedition. For everyday exploring, though, you can’t beat a handlebar bag.
The 3.4l Lil Presto Barrel Bag by Wizard Works can comfortably carry a waterproof layer, nutritional provisions and a multitool, and its hard-shell Cordura construction will keep contents protected from the elements (with the rigidity making it easy to unzip on the go).
Wizard Works Lil Presto barrel bag
£65 at Wizard Works
Sports gels
The cafe stop is a sacrosanct staple of any bike ride, and can sometimes be the sole motivation for saddling up. But cycling longer distances will require you to refuel well before you can tuck into your cappuccino and cake. Sports gels deliver a convenient, compact and easy-to-digest hit of carbohydrates, with a dose recommended every 20-30 minutes.
Veloforte’s energy gels are half the size of those from most other manufacturers, while the use of concentrated fruit juice rather than flavourings means you won’t suffer from the flavour fatigue of more synthetic-tasting alternatives. Clif Bloks are a good option for those who prefer a more solid sugar hit.
Veloforte Primo natural energy gel
From £6.87 for three at Veloforte
Clif Bloks Energy Chews
From £53 for 18 packs at Halfords£56.99 for 18 packs at Amazon
Navigation
Looking for some local ride inspiration, or planning something farther afield? There are a host of navigation apps that can suggest tailored tours based on duration, distance and difficulty, and their cycling-specific nature means you’re rarely led astray (or on to a dual carriageway).
Komoot is great for finding off-road-leaning trails and has its own easy-to-use route planner that includes user-recommended highlights. And if you already subscribe to Strava, in addition to tracking and displaying your speed and distance, the app has a route tool that can generate a loop based on the most popular roads and paths.
For those who prefer printed guides, Jack Thurston’s Lost Lanes books are a brilliant resource and offer well-researched routes with accompanying downloadable directions.
Komoot
Premium from £4.99 Photograph: Anthony Brown/Alamy
Strava
Premium from £8.99
Lost Lanes Southern England
£14.99 at Guardian Bookshop£12.39 at Amazon
Massage gun for recovery
Pounding the pedals can leave you with sore muscles, so ramp up your recovery with a massage gun. Theragun’s third-generation Mini packs an almighty punch considering its size, and is small enough to stow in a pannier if you’re out on a multi-day adventure. Its three-head attachments can delve deep into aches and pains in your quads, calves and lower back, and its guided routines are handy for those new to knot-busting.
Theragun mini third generation
£199 at Therabody£199 at Argos
For more, read our roundup of the best massage guns
Charlie Allenby is a health and fitness journalist who puts running and cycling gear through its paces on increasingly ridiculous endurance challenges
You have finally succumbed and decided to let a canine companion into your life – but your search for the perfect pet could put you in the hands of fraudsters.
Adverts for puppies pop up all the time on pet selling sites, online marketplaces and social media. They are not all fake, but in among the real Rovers are some faux furry friends.
The main scam involves advertising a pet that doesn’t exist. You pay the deposit – maybe after a conversation with the “seller” or even a video call – and then nothing. You may have been given details of a collection point, but if you turn up, you will be disappointed.
Kate Margolis, from the Cotswolds, England, was scammed when she was looking for a golden retriever puppy.
“I didn’t know much at the time, so I simply Googled ‘golden retriever breeder’ and found what looked like a really polished website, full of glowing testimonials, professional-looking photos, and even what seemed like credentials and assurances around licensing,” she says.
“I filled out a form on the site, and the breeder called me almost immediately. They sounded knowledgable and walked me through the whole process using all the right terminology, which I didn’t understand at the time, but it helped build trust. They told me the litter was due at Christmas and the puppies would be ready to collect in February, but I’d need to put down a deposit to reserve one.”
A reverse-search shows this photograph from a puppy sale site appears in various other places online. Photograph: Facebook
She paid £500 by bank transfer, then the seller went quiet. “When I eventually chased them, they told me the puppy I had reserved had ‘eaten plastic and died’. After that, they vanished. I was left with no puppy, no answers and no refund,” she says.
“Since then, I discovered my story’s not unusual … scammers create fake listings with stolen puppy photos, make up heart-tugging backstories, and use every trick in the book to get you to send money fast.”
Margolis has since set up an app called Petproov, which UK sellers and buyers can use to verify ID and paperwork.
What the scam looks like
The advert appears genuine – there’s a description of the animal and a photo. The seller may say that there is only one of a litter of pups left, to make you feel like you need to act urgently.
You may be supplied with all of the answers to your questions, and may even get to “meet” the animal online in a video call. When the time to pay comes, you will be asked to do so with a bank transfer.
What to do
Use reputable adoption/rehoming charities and breeders – in the UK the Kennel Club has ended its Approved Breeder programme, so you will need to do your own research.
Labrador retriever puppies are an adorable, and popular pet, hence the scams. Photograph: Juniors Bildarchiv GmbH/Alamy
Ask lots of questions. In the UK, the Kennel Club has lots of information about what to ask and what paperwork you should be able to see. So does the RSPCA – it says a good breeder should be happy to complete a Puppy Contract giving full details of the animal you are buying.
Check if the photo has been used before. Scammers often steal pictures from other websites to use in their adverts, and a reverse image search on Google will reveal if your prospective pooch’s portrait has been used elsewhere.
Arrange to visit the puppy in person and with its mother before you commit to anything. Do not be panicked into paying in order to secure a visit.
“Phrases like ‘Can you pay now to hold the puppy?’ are a common red flag,” says Margolis. “Trust your instincts. If something feels off, it probably is.”
Ask for ID and check it, says Margolis. “A legit breeder should be happy to show ID, vet records, and proof that the pup has been microchipped,” she says.
Billionaire investor Warren Buffett has shared a lot of wisdom throughout his successful career. However, one gem to come off his desk is the Buffett Indicator – a simple comparison of the US stock market’s total value divided by US GDP.
As Buffett puts it, the indicator is “probably the best single measure of where valuations stand at any given moment”. And for value investors, knowing when the stock market is overpriced is a powerful advantage, even when relying only on index funds.
However, looking at the Buffett Indicator today might cause some concern.
Historically, his Indicator has sat between 90% and 135%. This healthy range generally indicates that US stocks are fairly-to-slightly overvalued and presents an ideal window of opportunity to top up on investments. But following the tremendous artificial intelligence (AI)-driven returns of 2023 and 2024, the indicator’s been rising. So much so that it now sits at a whopping 207%!
That’s the highest it’s ever been since records began in the 1970s. And it’s even higher than the 194% peak seen in late 2021, right before US stocks experienced one of the most severe market corrections seen in over a decade.
That would certainly explain why Buffett and his team at investment vehicle Berkshire Hathaway have been busy selling stocks lately. In fact, the firm just marked its 11th consecutive quarter of being a net seller, with positions such as Bank of America, Citigroup, and Capital One all getting trimmed, or outright sold off.
So could another stock market downturn be just around the corner?
The stretched valuation of US stocks definitely creates cause for concern. However, there’s no guarantee a crash or correction will actually materialise. Therefore, panic selling everything today likely isn’t a sensible strategy, and it’s why Buffett, despite higher selling activity, still has plenty of capital invested in the US stock market. In fact, he recently added $549m of Domino’s Pizza (NASDAQ:DPZ) to its investment portfolio.
His investment thesis is relatively simple. As the world’s largest pizza delivery company, Domino’s runs a 99% franchised business model. Combining this with its recurring ingredient & supply chain revenue and its high-margin royalty income, the business is highly cash generative. And what’s more, the firm’s proven to be quite recession-resistant since people tend to eat pizza during both the good times and the bad.
Of course, Buffett still highlighted some notable risks. Rising labour and ingredient prices do put pressure on profit margins, and the general shift towards healthier dining could erode demand over time. Nevertheless, he sees ample long-term potential for steady gains here. And given his track record of success, investors may want to take a closer look.
There’s no way of knowing whether the stock market will take a nosedive later this year. Even with the Buffett Indicator at sky-high levels, Berkshire’s investment in Domino’s suggests there are still bargains to be found among US stocks.
Therefore, investors could be well served to follow in Buffett’s footsteps, not by panic-selling, but by trimming overvalued positions to maintain portfolio diversification and hunting for hidden bargains.
The post At 207%, the Warren Buffett indicator says the stock market could crash! appeared first on The Motley Fool UK.
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Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
Visitors visit the NVIDIA booth at the 3rd China International Supply Chain Expo in Beijing, China, on July 20, 2025.
Nurphoto | Nurphoto | Getty Images
Nvidia’s chips pose security concerns for China, a social media account affiliated with China’s state media said on Sunday, after Beijing raised concerns over backdoor access in those chips.
The H20 chips are also not technologically advanced or environmentally friendly, the account, Yuyuan Tantian, which is affiliated with state broadcaster CCTV, said in an article published on WeChat.
“When a type of chip is neither environmentally friendly, nor advanced, nor safe, as consumers, we certainly have the option not to buy it,” the article concluded.
Nvidia did not immediately respond to a request for comment.
H20 artificial intelligence chips were developed by Nvidia for the Chinese market after the U.S. imposed export restrictions on advanced AI chips in late 2023. The administration of U.S. President Donald Trump banned their sales in April amid escalating trade tensions with China, but reversed the ban in July.
China’s cyberspace watchdog said on July 31 that it had summoned Nvidia to a meeting, asking the U.S. chipmaker to explain whether its H20 chips had any backdoor security risks – a hidden method of bypassing normal authentication or security controls.
Nvidia later said its products had no “backdoors” that would allow remote access or control.
In its article, Yuyuan Tantian said Nvidia chips could achieve functions including “remote shutdown” through a hardware “backdoor.”
Yuyuan Tantian’s comment followed criticism against Nvidia by People’s Daily, another Chinese state media outlet.
In a commentary earlier this month, People’s Daily said Nvidia must produce “convincing security proofs” to eliminate Chinese users’ worries over security risks in its chips and regain market trust.
Suzuki Pakistan has announced a massive discount for a limited time on one of its popular models.
In a post on its social media handles, the company has announced a limited time offer of Rs. 450,000 cash bonus or discount on purchase of Suzuki Every.
The company has also outlined certain conditions for the offer that include:
Offer is valid for a limited time only
Applicable on Suzuki Every VX model only
Offer may vary by dealership or stock availability.
Suzuki Pakistan reserves the right to modify or cancel the offer at any time without prior notice.
For further details you can visit the Suzuki Pakistan website or your nearest dealership.
Paul Chappells/NatWest Group
Paul Chappells/NatWest Group
PA Media
