After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Bonus and pay cap drives Bank of Ireland executive to pastures new September 28, 2021 Restrictions on executives’ pay has driven a top dog at one of Europe’s largest retail banks to quit his job. Myles O’Grady has left his role as chief financial officer at the Bank of Ireland, citing limits on bankers’ pay and bonuses as the main reason for leaving. O’Grady quit to capitalise on a better-paid [...]
Bailey’s hawkish tilt drags FTSE 100 down September 28, 2021 London’s FTSE 100 dipped during the moring session today driven by investors sentiment souring on governor of the Bank of England Andrew Bailey signalling rate hikes will come sooner than expected. The capital’s premier index lost 0.40 per cent to fall to 7,035.23 points during the first hour of exchanges. In a speech last night, [...]
This A.M.: Tide is turning at the Bank of England while markets await Powell remarks September 28, 2021 Having started the day in positive fashion yesterday, European markets saw the majority of the early gains slowly disappear, and though most did finish higher, it was a somewhat half-hearted affair. The result of the German election went entirely as expected, with little prospect of a new government this side of Christmas. US markets were [...]
Andrew Bailey: Interest rate rise needed to slow inflation but economy not strong enough September 28, 2021 Andrew Bailey said in a speech last night to the Society of Professional Economists that rate of recovery from the pandemic had slowed over recent months, adding: “And that slowing is continuing.” The Bank of England governor jokingly asked “when is the plague of locusts due” as he warned the economy faces “hard yards” ahead. [...]
City of London Corporation calls on Labour to support growth of UK financial services September 28, 2021 The City of London’s local authority has called on Labour to give more vocal support to the financial services sectors post-Covid. The City of London Corporation urged Labour “to support and promote the growth of financial and professional services across the UK” to drive the economic recovery. Shadow chancellor Rachel Reeves did not mention financial [...]
Bailey: Worsening inflation makes rate rise more likely September 27, 2021 Bank of England Governor Andrew Bailey has said inflation has “strengthened (the) case” for a rate rise. The Bank’s Monetary Policy Committee (MPC) has repeatedly voted to keep the base rate at 0.25 per cent despite signs of growing inflation. But last Thursday the MPC raised inflation forecasts to north of 4 per cent by [...]
US markets slide on tech companies despite 3 year high for oil September 27, 2021 In the US both the S&P 500 and the Nasdaq indexes took a tumble from their previous close prices as technology companies spearheaded losses. The S&P 500 was down 0.28 per cent at the open despite a standout performance by energy stocks on the back of surging oil prices. Occidental Petroleum Corp jumped by 7.86 [...]
Brits’ energy bills to swell more than £300 with poorest hit hardest September 27, 2021 Brits’ household bills are set to swell over the next year, with the poorest households being hit hardest by the energy crisis, according to new research. Energy bills will rise by more than £300 over the next year, highlighting the scale of the impact the crisis will have on Brits’ finances, shows research by the [...]
Markets: FTSE 100 lifted by Rolls Royce and oil price surge – CityAM : CityAM September 27, 2021 The capital’s premiere FTSE index has been lifted by 0.3 per cent this morning, reaching a high of 7,122.09 points, after oil prices soared. Rolls Royce Holdings led gains climbing by 6.91 per cent after winning a contract from the US Air Force. Brent crude was trading at close to $79 a barrel, helping shares [...]
This A.M.: Evergrande concerns take a back seat while German election ends in gridlock September 27, 2021 Despite hitting two-month lows last week, markets in Europe eventually managed to finish higher, on the week, reversing a run of three successive weekly losses. Concerns about contagion effects from Evergrande haven’t gone away, but they appear to have taken a back seat to worries about supply chain blockages, surging energy prices and rising inflationary [...]