After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
BoE new chief economist slams employer for dropping the ball on inflation October 7, 2021 The Bank of England’s newly crowned chief economist has slammed his new employer for dropping the ball on inflation. Huw Pill, Andy Haldane’s successor, characterised the Bank’s bet on the inflation upsurge being transitory as “proving greater than expected.” “Over recent months inflation has surprised to the upside, UK activity data have disappointed somewhat, while [...]
Britain’s economic adjustment only ends in one way October 7, 2021 The ails of the nation’s favourite sausage roll maker are a microcosm of the problems afflicting the UK economy. In a trading update yesterday, high street baker Greggs warned it is suffering from a “supply of ingredients.” A couple months back, it pulled its iconic chicken bite for similar reasons. Severe shortages plaguing the British [...]
Mark Carney slammed over fossil fuels ahead of COP26: ‘Watering down rules for finance’ October 7, 2021 Just weeks before the UK hosts the COP26 climate summit, around 90 climate groups have written to UN Special Envoy Mark Carney and place ads in the Financial Times and Toronto Star today, urging him “to stop greenwashing financial institutions that continue to invest in expanding fossil fuel infrastructure.” The groups said that, while his [...]
Showers, haircuts and GP appointments to be offered on revamped London buses October 7, 2021 Haircuts, doctors’ appointments, showers and financial advice will be offered on a number on revamped London buses. Two buses have been repurposed with the aim of providing direct support for more than 3,000 people a year sleeping rough in the capital. The project, by the not-for-profit company Change Please, will provide access to virtual GP [...]
City of London Corporation calls for extension to UK clearing house access to EU October 6, 2021 The Square Mile’s local authority has called on Brussels to extend the EU’s access to City clearing houses beyond next year to ensure financial stability. The City of London Corporation’s policy chair Catherine McGuinness said in Paris today that “the issue of clearing is a real worry for many of us in the City”. The UK’s [...]
IMF: Inflation to surge above central banking elites’ targets October 6, 2021 The International Monetary Fund (IMF) expects inflation across the world’s richest countries to surge above the central banking elites’ targets. In a pre-released chapter from its global economic outlook report, the IMF said inflation in rich countries will hit 3.6 per cent in the final months of this year. The organisation blamed elevated inflation on [...]
UK businesses jack up prices at record pace amid supply chain epidemic October 5, 2021 Businesses are jacking up prices at the fastest rate on record to cancel out soaring costs caused by endemic supply chain breakdowns. A closely watched index measuring UK services businesses’ activity hit 55.4 in September, up slightly from August’s six-month low 55. A reading above 50 indicates a majority of firms reported growth. Soaring oil [...]
Save Bevis Marks: Skyscraper plans are a menace to the City’s heritage October 5, 2021 The business of London is business. So it has always been. The earliest surviving piece of writing from the city, inscribed on a wooden tablet barely a decade after its foundation by the Romans in AD 43, is an IOU. For two millennia, people have been coming to London to make money. It is the [...]
Interview: IoD’s new chief economist delivers damning verdict on Tory tax hikes October 4, 2021 After just a month or so into the job, the freshly appointed chief economist of the organisation that represents British business leaders is wasting no time in weighing in on the ails of the UK economy, shooting down one area in particular – tax. Kitty Ussher of the Institute of Directors (IoD) has slammed the [...]
Sunak and Johnson strike deal to wean government off borrowing October 3, 2021 Prime minister Boris Johnson and chancellor Rishi Sunak have brokered a deal to wean the government off borrowing to finance spending. Any new spending announced at the upcoming budget and spending review must be financed by reductions in spending elsewhere or tax hikes, Johnson has reportedly agreed to. The news was first reported by The [...]