After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Senior staff at financial services firms to have pay based on diversity performance July 7, 2021 Senior managers at financial services firms could have their renumeration based on their company’s diversity and inclusion performance under new rules announced today. The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England are seeking feedback on proposals put forward to improve diversity and inclusion in financial services. “Linking progress on diversity and [...]
Recruitment boss: Remote working set to hold back younger workers July 7, 2021 Extended periods of remote working are “not healthy” for younger staff as they cannot learn from peers, recruiting boss Robert Walters reckons. Speaking to City A.M., Walters said that “you cannot learn when you’re not next to someone, ideally your boss,” echoing concerns heard across the Square Mile about the dangers of long-term remote work. [...]
Levelling up will fail if Boris Johnson pushes for a nationwide approach July 7, 2021 The phrase “levelling up” has permeated the political lexicon over the past year or so, but few seem to know exactly what it means or how to do it. Andy Haldane, outgoing Chief Economist at the Bank of England, put some flesh on the bones at a timely Policy Exchange seminar last week. For Haldane, [...]
Oil prices reach seven-year high after Opec+ abandon supply talks July 6, 2021 Oil prices climbed to their highest level in nearly seven years today after Opec+ failed to end an impasse over proposed output increases. The price of a barrel of WTI neared $77 in morning trading, its highest since 2014, while Brent crude, the international benchmark, shot up for the sixth day in a row to [...]
Bank of England staff to come in one day a week July 6, 2021 Government guidelines regarding working from home is set to be scrapped on July 19th along with many other restrictions. Bank of England has asked all staff to come in to the office once a week, but this is not to be fully implemented until September, this year. The deputy governor and chief operating officer, Joanna [...]
Developing economies need more funds to tackle climate change – Carney July 6, 2021 The former governor of the Bank of England has warned that developing countries need more funds to tackle climate change. Speaking to MPs on the Treasury Select Committee, Mark Carney said although private financial markets could fund the investment needed to address climate change in rich countries, emerging markets do not have the same volume [...]
London businesses received £16bn through government support schemes July 6, 2021 London businesses took more than £16bn in taxpayer money through the government’s two largest Covid-19 support schemes, it was revealed today. The British Business Bank, which administers the scheme, said that the proportion of the lending to the capital’s business community was about 20 per cent of the national total. That’s broadly in line with [...]
UK construction output growth surges to two decade high July 6, 2021 UK construction output growth reached its highest level for over two decades, according to a closely watched business survey released today. The latest IHS Markit/CIPS UK construction PMI for June was 66.3, up from 64.2 in May, the strongest rate of output growth for exactly 24 years. Sharp rises in business activity across the three [...]
UK fiscal watchdog: Government finances “increasingly exposed” to global shocks July 6, 2021 The boss of the Government’s fiscal watchdog has warned the UK’s public finances are “increasingly exposed.” The Office for Budget Responsibility boss boss Richard Hughes said that two major crises – the global financial crisis in 2008 and the Covid-19 pandemic – had added 20 per cent each to the UK’s debt to GDP ratio. [...]
Bank of England deputy governor expects return to the office to be “bigger than we anticipate” July 5, 2021 The deputy governor and chief operating officer of the Bank of England told a conference today that she expects the return to the office “might be a bit bigger than we anticipate”. Joanna Place gave the remarks at an event hosted by the Investment Association in which she launched a pilot that will see all [...]