After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Today: UK unemployment set to fall as rate hike bets increase October 12, 2021 European markets got off to a mixed start yesterday, while US markets, after initially looking in good shape, rolled over into the close to finish on the lows of the day. While investors want to believe the narrative that stock markets can continue to move higher, this belief is bumping up against the reality of how [...]
Swelling NHS and social care costs will force Sunak to more than double new levy, warns IFS October 12, 2021 Chancellor Rishi Sunak will have to more than double a levy on employers and employees to meet the cost of an-ever demanding health and social care system. Ongoing cost pressures generated by the UK’s ageing society are likely to force Sunak to hike the newly created health and social care levy to 3.15 per cent [...]
Looming cost of living crisis pinches Brits’ confidence in finances October 12, 2021 The spectre of inflation is acutely impacing Brits’ confidence in the health of their finances. Nine in 10 households are worried about their finances, found research by Barclaycard. Brits across the country are facing a severe cost of living crisis caused by soaring energy prices, wider inflation and looming tax hikes, which is weighing down [...]
FCA in hot water over £230m London Capital & Finance scandal redress October 11, 2021 The UK’s financial watchdog has come under fire by an independent commissioner for its handling of the £237m London Capital & Finance (LCF) investment scandal. The Financial Conduct Authority (FCA) is reportedly at risk of censure from the financial regulator’s complaints commissioner, which investigates complaints against institutions like the FCA, the Bank of England’s Prudential [...]
Concerns grow over impact of energy prices and supply chain issues on profit margins October 11, 2021 Even though European markets closed lower on Friday, they still managed to finish the week higher, as did US markets, after what was a rather disappointing US jobs report, as martkets look forward to a week that sees US earnings season get underway in earnest, and where guidance is likely to be just as important [...]
UK’s big five banks set to pay out £7bn in dividends as their earnings soar October 10, 2021 The UK’s largest banks are preparing to hand out a collective £7bn in dividends this year, on the back of earnings hitting their highest level for the sector since 2008. The £7bn payout would be more than double the £3.3bn handed out in dividends by the UK’s big five in 2020. The UK’s five largest [...]
Bank of England rate-setter: Brace yourself for interest rate rises very soon October 10, 2021 One of the key rate-setters on the Bank of England’s Monetary Policy Committee has today said UK households should be primed for an interest rate rise “significantly sooner” than first thought. Michael Saunders, the former Citigroup economist turned Threadneedle St wonk, noted that financial markets had already priced in a pending rate rise as economies [...]
Raise interest rates now to stem inflation, warns John Major’s chancellor Lord Lamont October 9, 2021 A former Tory chancellor has called for an increase in interest rates as he wanred about the risks surrounding inflation. The Government’s policy of calling for wages to go up could further drive inflation if the boost is not accompanied by increased productivity, Lord Lamont said today. Amid soaring energy prices and shortages of workers [...]
Stablecoin Tether pressured to reveal the location of its reserve funds October 8, 2021 Tether, a stablecoin pegged to the price of the US dollar, is facing scrutiny once again over the location of its reserve funds. Tether Holdings Inc issues one token for each dollar it receives. This means that trades made using USDT are supposedly backed by the companies’ dollar reserves – a quality which has made [...]
Is bling out? What Chinese “common prosperity” means for luxury goods October 8, 2021 Evergrande Group will not have helped to calm the nerves of investors in European luxury goods companies. They’ve viewed recent developments in China with some trepidation. The difficulties facing the country’s second largest property developer (by sales) add to a checklist of concerns. These concerns include a slowdown in economic activity (for background, see: China: what [...]