After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
David Cameron denies speaking to Lex Greensill about future job while Prime Minister May 13, 2021 David Cameron has denied he spoke with Lex Greensill about one day working for his supply chain finance firm while he was Prime Minister. Greensill, an Australian former investment banker, worked as an adviser in the Cabinet Office from 2011 while Cameron was Prime Minister. Cameron went on to work for now failed Greensill Capital [...]
BoE’s Bailey: Inflation pressure will not last May 13, 2021 Bank of England governor Andrew Bailey reckons factors pushing up inflation in the coming months will not persist, but nevertheless the Bank will keep a watchful eye on the situation. “So the really big question is: ‘Is [higher inflation] going to persist or not?’ Bailey said at an event with members of the public organised [...]
David Cameron says he was paid ‘generous amounts’ by failed Greensill Capital May 13, 2021 David Cameron has told MPs today that he was paid a “generous amount” by failed Greensill Capital and that he did not think the firm was in trouble when he lobbied a slew of ministers and officials on behalf of the firm. Cameron told Westminster’s Treasury Select Committee that his almost 60 emails, texts and [...]
BoE’s Cunliffe sees strong case for UK digital currency May 13, 2021 Bank of England Deputy Governor Jon Cunliffe today said he could see good reasons for the central bank to launch its own digital currency. Cunliffe said the Covid crisis had accelerated the shift away from ‘public’ cash issued by the BoE and in favour of ‘private’ money used for online payments. “We may not be [...]
France wants to delay UK-EU Brexit financial services pact over fishing row May 12, 2021 France is aiming to block a post-Brexit financial services pact between the UK and the EU over a row about fishing rights. The UK and EU announced in March that it had drafted a regulatory co-operation agreement, known as a Memorandum of Understanding, on financial services, however it is yet to be signed or made [...]
UK GDP falls in Q1 but Sunak confident in recovery after March rebound May 12, 2021 Britain’s economy grew by a stronger-than-expected 2.1 per cent in March, picking up speed in what Chancellor Rishi Sunak expects to be a sharp economic comeback. The monthly growth beat economists’ predictions of a 1.3 per cent leap, the Office for National Statistics said this morning. “Despite a difficult start to this year, economic growth [...]
Brexit hit: City of London suffers £2.3 trillion derivatives loss in a single month May 11, 2021 The City of London suffered a loss of £2.3 trillion in a single month in its lucrative derivatives trading market, with Wall Street trading platforms the ones that benefitted. U.S. swap-execution facilities pulled in more trades across euros, pounds and dollars in March while London experienced an exodus compared to last July, while venues in [...]
Lex Greensill apologises for Greensill Capital collapse as he faces ‘fraudster’ allegations May 11, 2021 Lex Greensill has apologised for the collapse of Greensill Capital and has blamed it on the firm’s insurance provider Tokio Marine pulling its coverage in March this year. Speaking to a Westminster committee today, Greensill said that “I bear complete responsibility for the collapse of Greensill Capital”, while also apologising to its clients and the [...]
FCA launches formal probe into Greensill’s UK operations May 11, 2021 The City regulator has launched a formal investigation into the UK operations of collapsed supply chain firm Greensill Capital as part of wider global probes. The Financial Conduct Authority’s chief executive Nikhil Rathi gave the first confirmation the regulator is investigating Greensill seen it collapsed into administration in March. Greensill Capital was the brainchild of [...]
JP Morgan’s UK staff set to return to office from next month May 11, 2021 JP Morgan has told its UK staff that more of them will return to the office from next month as restrictions start to ease. The American bank told staff to prepare for a “consistent schedule” which combines both remote and office working but offices will operate at maximum 50 per cent of capacity, according to [...]