After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
How the US managed to avoid a Japanese style tapering crash December 19, 2013 Many thought that the Federal Reserve would never taper – or that when it did that markets would crash. But Federal Reserve chairman Ben Bernanke has managed to avoid a slump of the kind Japan witnessed in 2006. Then – as Bank of America Merrill Lynch's Michael Hartnett points out – stock values fell by [...]
Vince Cable is wrong – London’s growth is win-win December 19, 2013 Speaking to BBC Radio 4's Today programme, Vince Cable said that London "is becoming a giant suction machine draining the life out of the rest of the country." The business secretary was discussing the possible expansion of London's Heathrow airport. He added that the country needed to make more use of provincial airports to provide [...]
Suffering department stores temper retail sales growth in November December 19, 2013 Consumers' appetites for spending increased slightly in November as the UK high street saw growth again. Retail sales picked up 0.3 per cent in November, in line with expectations and following October's disappointing 0.9 per cent drop. Figures released by the Office for National Statistics showed that, year-on-year, sales were up two per cent from [...]
Here’s why gold has fallen below $1,200 for the first time since June December 19, 2013 Gold has fallen to its lowest price since June at $1,200/oz. Gold fell sharply in the wake of the Federal Reserve's announcement that it will begin the process of tapering its asset purchasing programme by $10bn (£6.1bn) in January. The decline in the price of the gold was hardly a surprise and continues the downward [...]
The taper that wasn’t a taper is seeing European stocks rally. Here’s why December 19, 2013 It's a taper, but not as we know it. Ishaq Siddiqi, market strategist at ETX Capital, says that the decision has removed much of the volatility that we've been seeing in the final quarter of this year, and gears us up "for a delayed but eagerly anticipated “Santa Rally” to finish this year in a [...]
Insurance broker JLT Specialty whacked with £1.8m fine from FCA December 19, 2013 City regulator the Financial Conduct Authority (FCA) has said this morning that it's fined JLT Specialty (JLTSL) over £1.8m for an "unacceptable" approach to bribery and corruption risks from overseas payments. The regulator said the insurance broker and risk management company failed "to have in place appropriate checks and controls to guard against the risk of [...]
AstraZeneca grows diabetes market share with Bristol-Myers acquisition December 19, 2013 Pharmaceutical giant AstraZeneca has announced it will acquire the entirety of Bristol-Myers Squibb's interests in the companies' diabetes alliance for an initial consideration of $2.7bn (£1.6bn) on completion and and up to $1.4bn (£850m) in regulatory, launch and sales related payments. The deal will see AstraZeneca take ownership of the intellectual property and global rights [...]
Investment star Neil Woodford decamps to Oakley December 19, 2013 Neil Woodford, the UK's most powerful fund manager, is heading for a new job at Oakley Capital, reports The Times. Woodford, who left Invesco Perpetual two months ago after a 25-year stint, said that he'd be starting a new fund management firm in the new year. Oakley, best known as part owner of Time [...]
Serco raises cost estimate of tagging probe December 19, 2013 Another blow for embattled outsourcing company Serco. The group is currently the subject of an investigation into whether it overcharged the government for its electronic tagging of prisoners, and it's now upped its estimate of how much the review will cost it – from £12m to £17m, with accounting and other one-off costs increasing from [...]