After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Lawyers challenge Andrea Leadsom’s decision to approve power plant January 30, 2020 An environmental law charity has launched a High Court challenge against business secretary Andrea Leadsom’s decision to approve a new gas power plant in North Yorkshire. Clientearth is challenging Leadsom’s decision on the grounds that construction of the plant, which would be the largest in Europe, goes against the Planning Inspectorate’s (PI) recommendation that it [...]
City economists urge Bank of England to avoid interest rate cut January 29, 2020 For the whole of 2019, the Bank of England’s monetary policy committee (MPC) held interest rates steady despite a slowing economy as parliament wrestled with Brexit. Yet with Britain now leaving the EU, there is a real possibility the MPC will cut rates for the first time in four years tomorrow, in what will be [...]
Fresnillo production falls as firm prepares for mine closure January 29, 2020 Full year gold and silver production at FTSE 250 miner Fresnillo fell in 2019 as the firm prepared for the closure of its Noche Buena mine in Mexico. Total silver production fell 11 per cent, from 61.8 million ounces in 2018 to 54.6 million ounces last year. However, the final quarter showed a 3.7 per [...]
Hong Kong stocks tumble three per cent on coronavirus fears January 29, 2020 The Hong Kong stock index slumped three per cent overnight in its first day of trading since the coronavirus outbreak intensified over the Chinese Lunar New Year. Coronavirus has now claimed 132 lives while the number of cases has hit 5,974. The jump in deaths has triggered an international response, with British Airways the latest [...]
Ovo Energy slapped with £8.9m fine for inaccurate billing January 29, 2020 Ovo Energy has been charged £8.9m by industry regulator Ofgem after inaccurate information on bills led to some customers being charged too much. The challenger firm, which recently became one of the UK’s largest energy suppliers, fell foul of the watchdog after incorrect annual statements were sent to more than 500,000 customers between July 2015 [...]
De Beers records highest diamond sales since April as 2020 looks brighter January 29, 2020 De Beers, the diamond mining arm of Anglo American, recorded its highest sales of the gems since April last year in signs that the global market is beginning to recover from a nightmare 2019. The firm, which was taken over by Anglo in 2011, sold $545m (£418.7m) in rough diamonds in its first cycle of [...]
DEBATE: Should the Bank of England cut interest rates this week? January 29, 2020 Should the Bank of England cut interest rates this week? Simon Ward, economic adviser at Janus Henderson Investors, says YES. The Monetary Policy Committee (MPC) keeps making mistakes because it ignores monetary trends. It hiked rates in August 2018 even though 12-month broad money growth (as measured by non-financial M4) had slumped from 6.5 per [...]
Want to level up the UK? Look at disparity within the regions, not just between them January 29, 2020 It is a truth which has rapidly become universally acknowledged (to borrow Jane Austen’s famous phrase) that the government must deliver for its new supporters in the regions. This is a massive challenge. The gap in income per head, for example, between London and other areas of the country is obviously large. But the firm [...]
UK hiring confidence climbs after election January 29, 2020 UK businesses’ confidence in their hiring decisions grew in December, according to new survey data, in another sign that firms have been buoyed by the General Election outcome. Confidence among employers in the economy rose to minus 31 on the Recruitment and Employment Confederation’s (REC) scale in the October to December period from minus 33 [...]
Oil majors investing only three per cent of capital into renewables January 29, 2020 Oil majors responsible for half of global output are investing a mere three per cent of their combined capital expenditure on renewable energy sources. According to a new report by law firm CMS, fifteen of the world’s largest oil companies, including Shell, BP, Exxon Mobil, and Saudi Aramco spent approximately $6.6bn of a combined $228bn [...]