After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
It’s official: Saving for a house is more important than saving for a pension (to under-35s, anyway) September 21, 2016 Remember back in August, when Bank of England chief economist Andy Haldane was branded "irresponsible" after he suggested he'd rather invest in property than put money into a pension scheme? Well, it seems the nation's millennials agree with him, after a study found saving for a home is three times more important to them than putting [...]
What to expect from Philip Hammond’s Autumn Statement September 21, 2016 The UK entered a period of heightened political and economic uncertainty following the EU referendum. But as the fog begins to clear, we are starting to see more clearly what might be on the horizon. We downgraded our forecast for UK economic growth in the aftermath of the referendum. Our concerns have since receded, as [...]
What should Hammond do to ensure steady management of the public finances? Not very much. September 20, 2016 Quietly, and without fuss, the Treasury has revealed that the first budget of Theresa May’s government will be unveiled on 23rd November. The confirmation of the Autumn Statement date was made just under two weeks ago – the chances are, you didn’t even notice. The memo was a passive and reserved show of defiance. Earlier [...]
UK economy will slow less than expected after Brexit vote, says Bank of England’s Michael Saunders September 20, 2016 A member of the Bank of England’s Monetary Policy Committee (MPC) believes the UK economy is likely to slow less than most economists are expecting after June’s Brexit vote. Michael Saunders, a new external member of the MPC, said: “There’s plenty of evidence from groups like the Organisation for Economic Co-operation and Development (OECD) and the International [...]
Warning over risks of moving euro clearing from London to continent after Brexit September 20, 2016 A senior derivatives industry official has warned over the risks of moving euro clearing from London to the continent after Brexit. The statement comes shortly after chancellor Philip Hammond hit back at the suggestion from French President Francois Hollande that euro clearing could move to continental financial centres if the UK leaves the Single Market. Read [...]
Passporting for financial hubs works both ways, watchdog numbers show September 20, 2016 Thousands of UK financial firms are currently facing uncertainty over access to the Single Market, but figures out today have underscored that passporting is a two-way street. Of the 13,484 firms using passporting which were accounted for in a letter from new Financial Conduct Authority chief executive Andrew Bailey to the Treasury Select Committee, 8,008 are using inbound passports, [...]
Bank of England’s Andrew Hauser: Don’t expect blockchain to revolutionise finance any time soon September 20, 2016 Much heralded blockchain technology will not create a revolutionary shake up in the financial sector anytime soon, a top Bank of England official has declared. The distributed ledger technology has a way to go to become to be as revolutionary as some are predicting, according to Andrew Hauser, the executive director of banking, payments and financial resilience [...]
Are government bonds too expensive? September 20, 2016 Government bond yields could have passed their nadir, investment banks and bond analysts have suggested, with borrowing costs rising and the outlook for major economies in flux. As the US Federal Reserve has hesitated on raising rates, the Brexit vote threw the financial markets into brief turmoil and the Eurozone has shown only tentative signs [...]
Chinese group gatecrashes National Grid’s £11bn gas pipeline auction September 18, 2016 A group of Chinese investors are eyeing a bid for National Grid’s gas pipelines that supply nearly 11m homes and businesses. The group is targetting a majority stake in the key national infrastructure. It’s thought the consortium includes Fosun and the state behemoth China Gas. “Regardless of their identity, all bidders will have to go through [...]
Picks of the day: The three stories to read today September 16, 2016 It’s Friday afternoon – the weekend is only round the corner, so you’re probably trawling the internet for something to read. We’ve done the legwork for you, and put together the top three stories of the day in bite size form, just to make your life that bit easier. Check out our three at three. [...]