After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
OECD: US to avoid double dip September 20, 2010 A generation of young Americans face a bleak future of unemployment but the US economy will avoid a double-dip recession, according to the Organisation for Economic Cooperation and Development (OECD). The Paris-based organisation yesterday said it could be 2013 before employment returns to pre-recession levels after peaking at 10 per cent of the labour force [...]
Britain’s private sector jobs miracle September 20, 2010 WITH the money supply dipping in August, and a flurry of other downbeat indicators, it is clear that the economy won’t grow especially quickly in the next few months. But this doesn’t necessarily bode ill for jobs. One of the great surprises of the past two years has been the performance of the labour market, [...]
Economic freedom in freefall September 20, 2010 The UK ranks 10th in a new poll measuring how much economic freedom countries have, according to the Fraser Institute and the Institute of Economic Affairs. The survey says economic freedom in the UK has been on retreat since 2000 and Britain’s score fell again in this year. This follows a general downward trend, with [...]
Cotton prices surge to new high September 20, 2010 Cotton prices surged more than three per cent yesterday, jumping past the $1 a pound level for the first time since 1995. Buying by speculators, mills and trade accounts stoked the rally. Clothing makers and other commercial users were forced to buy at the inflated prices. Investment funds sitting on money-making long positions were also [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 20, 2010 FINANCIAL TIMES BLACKSTONE QUITS LIVERPOOL TALKS The credit unit of Blackstone, which had been mooted as a possible leader of a £280m ($436m) refinancing of Liverpool Football Club, has pulled out of talks with its owners in a potential setback in their attempt to keep control of the company. People close to the situation said [...]
Blow for King after money supply falls September 20, 2010 THE amount of money in circulation in the UK decreased by £4.1bn, or 0.2 per cent, in August compared with an average monthly increase for the previous six months of £2.2bn, the Bank of England (BoE) revealed yesterday. The Bank’s latest figures also showed the 12-month money supply growth rate fell to 1.8 per cent [...]
UniCredit boss Profumo set to resign today September 20, 2010 UniCredit chief executive Alessandro Profumo is expected to hand in his resignation today after tensions over stake-building by Libyan groups in the bank boiled over. Profumo has been accused by some Italian shareholders and politicians of letting Libya increase its stake in the bank without informing other top managers. It was not immediately clear, however, [...]
Record yields to hit Ireland bond auction September 20, 2010 STRICKEN Ireland is poised to re-enter the debt markets today but record yields on its government bonds mean it will have to pay a steep price for failing to convince investors that it can meet the escalating cost of bailing out its banks. The extra yield premium demanded by investors to hold Irish 10-year bonds [...]
UK triple-A credit rating maintained September 20, 2010 CREDIT ratings agency Moody’s has maintained Britain’s triple-A status, citing the coalition government’s commitment to fiscal discipline and the flexibility of the UK economy. In a major coup for the coalition government, Moody’s said its deficit-cutting plans, the long maturity profile of UK government debt and the likelihood that growth will continue even in the [...]
Borrowing at a 10-year low September 20, 2010 MORTGAGE lending in the UK hit a 10-year low in August falling to £11.4bn, down 14 per cent from £13.3bn in July, the Council of Mortgage Lenders (CML) said yesterday. The figure was also down six per cent from £12.1bn in August 2009 with the CML warning lending levels were likely to remain subdued until [...]