After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
This is one oil and gas market that’s booming despite the low brent crude price February 16, 2016 23 oil and gas projects are set to go offline in the Norwegian North Sea between now and 2024, creating NOK 160bn (£12.5bn) of opportunities, according to research from Oil & Gas UK. Decommissioning represents “a significant emerging business in the sector,” the industry body's study said, at a time when the oil and gas industry [...]
US growth and the risk of recession has replaced the China slowdown as biggest investor fear February 16, 2016 Fear over the US economy and risk of a recession has topped the deceleration of China’s economy as the biggest risk for investors, according to the latest Bank of America Merrill Lynch Fund Manager Survey. Global fund managers’ growth and profit expectations are both negative for the first time since July 2012. The survey also [...]
Gold price rally returns as it snaps two-day losing streak February 16, 2016 The gold price rally returned today, ending a two-day losing streak, as ongoing concerns over the global economy returned a sparkle to its safe-haven status. Spot gold rose 0.38 per cent to $1,213.95 an ounce in mid-afternoon trade. Earlier, it had fallen as low as $1,190.40, having shed 2.3 per cent yesterday, its biggest one-day loss [...]
Saudi-Russian pledge to freeze oil production may be smoke and mirrors February 16, 2016 Stop press!! Saudi Arabia and Russia have agreed to freeze oil output!! At first glance, the remarks at today's meeting in Doha were hugely significant, coming both from the notoriously stubborn leader of the Opec cartel and one of the largest non-Opec producers in the world. Opec members Qatar and Venezeula, who were also at [...]
Bank of Japan starts paying negative interest rate deposits February 16, 2016 The Bank of Japan introduced its radical policy of charging negative interest rates today. The move, first announced last week, will mean banks have to pay the Bank of Japan (BoJ) to keep reserves there. However, the negative interest rate of 0.1 per cent will only apply to new reserves created as part of the BoJ's asset purchase [...]
Buy-to-let mortgage boom runs out of steam as lending falls in December February 16, 2016 The buy-to-let mortgage boom receded toward the end of last year, new figures show today. The amount of cash loaned to buy-to-let investors dropped by three per cent in December compared with November, the Council of Mortgage Lenders said. It was also down one per cent in the three months from the three months to September. Over [...]
London house prices have another year of rapid growth as they climb 9.4 per cent in 2015 February 16, 2016 London house prices climbed 9.4 per cent last year, figure released by the Office for National Statistics this morning show. While it is some way below 2014's growth of 13.3 per cent, it is still rapidly outpacing earnings. The strong growth in London and the South helped drive nation-wide house price growth of 6.7 per cent. Prices [...]
ONS consumer price index: Motor fuel helps send UK inflation up by 0.3 per cent in January February 16, 2016 Petrol prices helped Britain's annual inflation rate inch up to a 12-month high in January, figures released by the Office for National Statistics (ONS) today showed. The consumer price index (CPI) rose 0.3 per cent in the year to January, up from 0.2 per cent in December, and in line with economists' expectations. This means prices rose 7.9 per cent [...]
Finally: UK living standards are now as high as they were before the recession February 16, 2016 Time to pop open that prosecco: We're finally living as well as we were before the financial crisis hit. After nearly a decade, the standard of living across the UK has finally returned to the levels found before the recession, however, that recovery could slow over the coming years. The average household income now stands at £24,300, surpassing its [...]
One third of oil firms at risk of bankruptcy due to plummeting prices February 16, 2016 A third of oil producers are at risk of going bankrupt this year due to low commodity prices, according to a report by Deloitte. Around 175 companies may become insolvent as they collectively have more than $150bn in debt and are struggling to obtain financing, according to the study. "These companies have kicked the can down [...]