After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Mark Carney tells MPs the Bank of England is not prepared to cut interest rates into negative territory…for now February 23, 2016 Bank of England governor Mark Carney has said the Bank does not yet consider negative interest rates to be an appropriate stimulus measure for the UK. He said the Bank would consider lowering rates below the current record low of 0.5 per cent if necessary, but they would be unlikely to go below zero. "One of the things [...]
Bank of England’s Minouche Shafik and Martin Weale expect interest rates to go up sooner than financial markets are expecting February 23, 2016 Interest rates are likely to go up sooner and faster than is currently implied by a gauge of financial market expectations, two Bank of England rate setters have said today. Monetary policy committee member Minouche Shafik said rates would increase faster than implied by the market yield curve. The market yield curve currently points to the first rate [...]
Government has poor grasp on fraud levels and the information it holds is incomplete, warns National Audit Office report February 23, 2016 Government lacks the right information to accurately detect and monitor levels of fraud, according to a report by the National Audit Office (NAO). The report, which was released today and focuses on fraud at central government expenditure level, warned that, with the exception of details on tax credit and benefit fraud, information collected by the [...]
Fears over German economic growth after sharp drop in business confidence February 23, 2016 German sentiment on the economy has taken a sharp tumble to its lowest value for over a year, data released this morning reveals. The IFO business climate index for German industry and trade dropped to a score of 105.7 in February from January's 107.3. It is the lowest score since December 2013. The index was dragged [...]
UK income inequality 2015: Here’s the average household income in the UK – take this test to find out how your wealth compares February 23, 2016 Feeling flush? Median household disposable income rose to £25,700 in the year to the end of 2015, up £1,500 from the year before, according to official figures released today – which also suggested the rich are getting poorer, while the poor are getting richer. Average income is now a hair above the at £25,400 people had just before the [...]
Over-40s are on a mortgage shopping spree – but age restrictions mean they’re struggling to borrow February 23, 2016 The over-40s are going berserk for mortgages – but banks and building societies are having trouble lending to them because of age restrictions, new research has found. The findings, by Nottingham Building Society, suggested two in five mortgage brokers have reported a rise in mortgage customers over the age of 40 – but 17 per cent [...]
New stamp duty land tax extra three per cent charge could hit parents who want to help their children get onto the property ladder, tax experts warn February 23, 2016 If you're currently saving to give your son or daughter a helping hand onto the property ladder, you might find you need to put aside a little bit more than you bargained for to cover tax charges. The Chartered Institute of Taxation (CIOT) yesterday cautioned that the additional three per cent charge on stamp duty [...]
North Sea oil on the “edge of a chasm” as plunging oil prices mean half will operate at loss this year, Oil & Gas UK warns February 23, 2016 North Sea oil firms are operating on the brink of collapse, with nearly half of all oil fields on the continental shelf likely to operate at a loss this year, a new report has warned. Oil & Gas UK's annual survey of the sector found that while operating costs have been driven down, it is [...]
Manufacturers call for the government to invest in the sector to escape the productivity puzzle February 23, 2016 Britain’s manufacturers are calling on the government to do more to balance the economy in order to solve the so-called productivity puzzle that has baffled economists since the financial crisis. According a survey from the manufacturers organisation EEF, UK manufacturers have managed to escape the productivity puzzle more quickly than the rest of the economy, [...]
UK house prices: the number of mortgage products soars to eight-year high in January February 23, 2016 Fierce competition between lenders has seen the number mortgage products available to homebuyers balloon to a near-eight-year high in January, new figures show. The Mortgage Advice Bureau (MAB) has counted 17,132 products on the market in January, which is 34 per cent ahead of the 12,771 products available in January last year and the highest [...]