After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]
Oil gushes past $40 per barrel March 7, 2016 The price of oil has surged over $40 per barrel for the first time this year, as shifting sentiment raises hopes that a 20-month price rout is finally coming to an end. Crude has climbed by almost 50 per cent from lows of $27 a barrel after sliding US production and discussions between Saudi Arabia [...]
Federal Reserve vice chair Stanley Fischer says an increase in inflation is stirring March 7, 2016 Inflation in the US could be about to begin rising back up to its two per cent target, the vice chair of the Federal Reserve said today. Stanley Fischer said he disagreed with the idea that the link between unemployment and inflation had be severed. "Since the US economy is now below our two per cent inflation target, and [...]
Bailout mission chiefs to return to Athens as Eurogroup chief Jeroen Dijsselbloem says it time to talk about Greek debt relief March 7, 2016 Mission chiefs from Greece's creditors will return to Athens as soon as tomorrow to race to complete the current stage of the country's €86bn (£67bn) bailout programme. After crunch talks in Brussels, Jeroen Dijsselbloem, president of the group of Eurozone finance ministers, said: The mission chiefs will return to Athens. There is enough common ground for their mission to continue. [...]
Bank of England to offer extra lending to banks around the time of the EU referendum March 7, 2016 The Bank of England today announced it will offer extra lending to banks in the weeks around the EU referendum to stave off the impact of uncertainty on the financial system. Banks will be offered three additional so-called long-term repo operations. They involve swapping cash for eligible collateral, mostly government debt, which is swapped back at a later date. The [...]
Investor sentiment on Eurozone economy stoops to year low March 7, 2016 Investor sentiment on the Eurozone economy has fallen to its lowest level for a year, new survey data shows. The Sentix economic index for the currency-bloc dropped to a score of 5.5 for this month from February’s six. It is the lowest since April 2015. The score was compiled from a poll of 1,102 investors. “The [...]
Iron ore makes massive 19 per cent price jump – leads mining share prices Ferrexpo and Lonmin higher March 7, 2016 Iron ore has lead a fresh rally in commodity prices that has recorded gains over the past two weeks as traders bet that prices have finally bottomed out. The price of iron ore climbed by 19 per cent to $63.74 a dry metric ton according to industry data gatherer Metal Bulletin. The leap in the [...]
UK productivity puzzle: Here’s how much more the UK would make if we were as productive as the rest of the G7 March 7, 2016 Sluggish productivity could be costing the UK nearly £500bn, as the country continues to tail behind most of its G7 counterparts, figures out today have found. According to the study by Grant Thornton, UK GVA could be boosted by £479bn by 2025 if workers' productivity across the country matched the G7 average. According to figures released [...]
Fitch slashes global growth forecast on weaker emerging market outlook March 7, 2016 The world economy will be weighed down by further turmoil in key emerging markets this year, a major ratings agency said today. Fitch has slashed its global economic growth forecast with advanced economies expected to grow 1.7 per cent this year, down from the 2.1 per cent forecast in December. Emerging market economies are expected to [...]
German factory orders drop in January despite bump in demand from rest of the Eurozone March 7, 2016 German factory's received fewer orders in January compared with the month before, according to figures released this morning. New orders dropped 0.1 per cent with a 1.6 per cent drop in domestic orders offsetting a one per cent climb in foreign orders, German statistical office Destatis said. Orders from other Eurozone countries jumped 7.5 per cent [...]