After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
UK CPI: Inflation rate surges to 1.5 per cent in April May 19, 2021 UK inflation more than doubled to 1.5 per cent in April, up from 0.7 per cent in March, the Office for National Statistics (ONS) said this morning. Economists had forecast a rise of 1.4 per cent, as a jump in electricity and gas bills pushed inflation higher. Core inflation, which excludes energy prices and other [...]
Frost: City of London needs to ‘get on and do its own thing’ post-Brexit May 18, 2021 Lord David Frost has said City of London firms need to “get on and do its own thing” post-Brexit as he signals that equivalence is unlikely. Boris Johnson’s UK-EU relations minister also told a House of Lords committee today that Brussels will continue to take decisions on equivalence that are “in their interest”. UK financial [...]
Brexit post-mortem for the City: London’s ‘Golden Age’ is over, warns NatWest chair Howard Davies May 18, 2021 The City of London’s will remain a global financial centre but may not see the ‘golden age’ again, according to NatWest bank chairman Howard Davies. “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure,” the City [...]
Helicopter money: large-scale cash handouts are no panacea for economies May 18, 2021 As the Indian variant threatens a third wave of coronavirus and government deficits reach new heights, the notion of so-called helicopter money has been touted as a panacea for Central Banks. Economists on payroll are falling over themselves to claim it is the ultimate weapon to boost economist growth and avoid deflation. Trouble is, it [...]
City investors dump hospitality stocks despite pubs welcoming customers back indoors May 17, 2021 England’s pubs welcomed customers back inside for the first time in months today, but investors in the City of London were less taken by the sector’s future. Worries about a possible spread of the Indian variant of Covid-19 made shareholders sell their pub stocks. Wetherspoon, Marston’s, City Pub Group and Fuller, Smith & Turner were [...]
Wall Street slips as banking stocks and stronger pound weigh on FTSE 100 May 17, 2021 Wall Street opened lower this afternoon, reversing a strong recovery late last week as investors turned their attention back to inflation worries. The Dow Jones slipped 0.02 per cent and the S&P 500 opened lower by 0.09 per cent, while the tech-heavy Nasdaq dropped 0.46 per cent at the opening bell. It came after London’s [...]
Sterling holds ground as Britain navigates its way out of lockdown May 17, 2021 Sterling held on to recent gains against the dollar today as Britain lifted several lockdown restrictions and took a big step towards reopening its economy. The pound has gained against the dollar for two weeks straight and consolidated near the $1.41 mark this morning. Cafes, bars and restaurants will reopen for indoor service today and [...]
Sanjeev Gupta pulls funding for troubled Wyelands Bank May 14, 2021 Sanjeev Gupta’s Wyelands Bank is set to be sold or would-up after its accounts revealed that repayments on 80 per cent of its loan book were overdue. The move, reported by The Times, came after the Bank of England ordered Wyelands to repay £194m to its retail depositors in March. The bank said yesterday that [...]
Downing Street hits out at EU ‘threat’ to City over financial services deal May 14, 2021 Britain has criticised the European Union after reports that France may halt negotiations on financial services following a row about fishing rights. French President Emmanuel Macron has been looking to pressure Britain into granting European fisherman access to European waters. Tensions were high a few weeks ago after a dispute over licences led to more [...]
Too late for UK-EU ‘fish for finance deal, say City of London Corporation May 13, 2021 It is too late for the UK to strike a “fish for finance deal” with Brussels to ensure the City gets renewed access to the EU, according to a top City of London Corporation official. Nick Collier, managing director of the City of London Corporation in Brussels, said at a Best for Britain event today [...]