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A hostile climate and burrito bonds: The Wells Street Journal

A weekly account of the curious goings-on in the world of financial services

A hostile climate
On the same day the Prudential Regulation Authority put out a policy statement on the financial risks of climate change and five London landmarks were ground to a halt by climate protesters, it was starting to feel like a bit much.

Wells Street has a secure bunker prepped for the societal collapse due to follow runaway climate and environmental breakdown, so we don’t need the environment shoved down our throats, thanks. To top it off, Legal & General Investment Management then announced ramping up investor pressure over climate change! WSJ is off to test the bunker’s Netflix and bar provisions…

Burrito bonds are hot stuff
WSJ thinks its teasing of Mexican restaurant Chilango’s burrito bonds a few months ago might have been a bit premature. While WSJ was quick to point out that they’d happily take the lifelong supply of free burritos that comes with being an investor, the primary point of the offering went over its head.

There was news this week that the bonds have smashed their initial £1m target since launching last October, with over £3.7m invested as the offer closed last Friday. The chain can now boast upwards of 800 investors in its burrito bond, including former Domino’s Pizza chief executive Chris Moore.

WSJ hears that 194 investors also reached the investment threshold of £10,000 necessary to receive a Chilango bank card. Sounds tasty. WSJ wants to know whether it can invest in bonds associated with a favourite – the McDonalds McChicken Burger.

Out of context

‘It’s called Kurl Up and Dye’

The Lang Cat’s Mike Barrett passes a Leeds hairdressers in a taxi

‘Think of it like slowly docking a giant container ship, with the sea floor as the perilous lifetime allowance’

Satis Asset Management’s David Hearne recounts recommending a client make an £8,000 net contribution to their pension

‘A fox in the chicken coop?’

Former IFA Harry Katz gives his two cents on the new Financial Services Compensation Scheme chief executive

Separated at birth

Irish actress Amanda Burton

Barclays International managing director Andrea Delay
Send your suggestions to @mm_wsj.



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