After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
How strong jobs numbers are putting Carney in a tight spot December 18, 2013 Some analysts think today's unemployment numbers will be giving Bank of England governor Mark Carney a headache. The surprise drop in the headline rate – from 7.6 per cent to 7.4 per cent in the three months to October – is a move towards the Bank's threshold level of seven per cent. When unemployment reaches [...]
Asos and M&S downgraded by UBS. Here’s why December 18, 2013 Some sobering news for UK clothes retailers this morning, as UBS cut its ratings for both Marks and Spencer and Asos from 'buy' to 'neutral'. M&S is trading in the red, having shed over four per cent to 434p, and is topping the FTSE 100's biggest fallers this morning. UBS said: We cut our forecasts [...]
Dutch sex workers lobby for pensions tax break December 18, 2013 Dutch prostitutes are lobbying for the same pension benefits enjoyed by professional footballers. The campaign is being led by Freya, a company hoping to run a number of brothels in the Dutch city of Utrecht. The company argued that the tax system should treat sex workers in the same way as it does other physically [...]
EU job seekers will have to wait three months to claim benefits from 2014 December 18, 2013 Prime Minister David Cameron has announced that from next year EU job seekers will have to wait three months to claim out-of-work benefits. Everyone coming to Britain should contribute. So from 1st Jan 2014, EU job-seekers will have to wait 3 months to claim out-of-work benefits. — David Cameron (@David_Cameron) December 18, 2013 Yet [...]
SABMiller chairman Graham Mackay dies December 18, 2013 Brewer SABMiller has announced that its chairman, 64 year-old Graham Mackay (pictured), died this morning following a long illness. He passed away peacefully this morning, with his family at his side, said the group. The board has appointed acting chairman John Manser as chairman, with immediate effect. It's also appointed Guy Elliot as senior independent director [...]
Mark Carney confirms Britain is to see plastic money by 2016 December 18, 2013 The Bank of England has confirmed it will be producing Britain's first plastic notes in 2016. The first note to printed on polymer will be a five pound note featuring Sir Winston Churchill. Britain's revered wartime prime minister will be followed by Jane Austen who will take pride of place on a ten pound plastic [...]
BP makes major oil discovery in Gulf of Mexico December 18, 2013 Oil giant BP has announced this morning that it's made a "significant discovery" in the deepwater Gulf of Mexico. This is the company's third discovery in recent years – it announced findings in 2006 and 2009 – but is its largest discovery in the region since the Deepwater Horizon spill in 2010. It may well reignite the heated [...]
Bank of England warns on sterling strength – as the pound jumps on unemployment data December 18, 2013 The Bank of England's Monetary Policy Committee (MPC) has warned that further substantial pound gains could weaken the UK's economic recovery. Here's the relevant portion from the minutes: In financial markets, there had been a slight tightening in monetary conditions, with UK longer-term market-implied interest rates rising by around 20 basis points and sterling appreciating [...]
Unemployment falls to April 2009 low December 18, 2013 Unemployment has fallen from 7.6 per cent to 7.4 per cent in the three months to October, according to the Office for National Statistics. Analysts had expected no change this month. Jeremy Cook, chief economist at World First, points out that "the strength in jobs numbers cannot and is not being replicated in wage negotiations." [...]
China: Why US tapering won’t affect it and 5 other things December 18, 2013 As we head towards the new year, JP Morgan analyst Haibin Zhu looks ahead to the Chinese economic outlook for 2014. Where is China’s growth heading in 2014? The investment bank expects the Chinese economy to decelerate from 7.6 per cent in 2013 to 7.4 per cent in 2014. It believes that a shift in government [...]