After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Bank of England sets 2020 deadline to overhaul interbank payment system September 16, 2016 The Bank of England has said it will aim to overhaul the UK's interbank payment system by 2020 to create a new service that is "resilient but flexible". Future users will pay for the revamp of the "next generation" Real-Time Gross Settlement (RTGS) service through a temporary increase in charges, the bank's executive director Andrew Hauser [...]
Five things we learned about Mark Carney when schoolchildren grilled him on live TV September 16, 2016 Bank of England governor Mark Carney is used to being grilled by journalists, but today he faced questions from schoolchildren and they didn't pull their punches. The children were putting the Canadian on the spot as part of a Q&A session hosted on the BBC. Jay, 13, went straight for the jugular, asking Carney: "Who is easier to work [...]
As the Bank of England holds interest rates, is ultra-loose monetary policy a danger to financial stability? September 15, 2016 Baroness Altmann, a former pensions minister, says Yes. The Bank’s monetary policy is not only a potentially serious danger to financial stability, it also has damaging side effects that call into question the extent of easing it actually represents. The fallout from years of pushing both short and long rates lower is that capital markets and [...]
Critics round on Carney as ultra-low interest rates to last 13 years September 15, 2016 Mark Carney faced growing disquiet from the financial community today, as critics of his post-referendum stimulus package sharpened their attacks on the Bank of England governor. As the Bank's monetary policy committee (MPC) voted unanimously to hold interest rates at their record low of 0.25 per cent, a string of robust post-referendum data has led [...]
It’s eight years since the Lehman Brothers collapse. What’s changed? September 15, 2016 Eight years ago today US banking giant Lehman Brothers filed for bankruptcy. This was an unprecedented event in the modern financial world and it sent shock waves through global markets. We're still recovering from some of them. The bank's collapse has now entered the vocabulary as a term for when an industry has a potentially catastrophic moment. It is used again. And again. And again. And again (maybe it [...]
Before the bell: What you need to know before the US market open September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent, while Apple can't cook up iPhones fast enough. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing to a very health rise ahead of [...]
Hold fire: Bank of England leaves interest rates at 0.25 per cent but warns the economy may need further assistance September 15, 2016 The Bank of England has conformed to market expectations and held its key rate of overnight interest at 0.25 per cent. The nine-strong rate-setting Monetary Policy Committee (MPC) voted unanimously in favour of keeping rates on hold and maintaining its massive stimulus package. The rate was cut last month from 0.5 per cent as the Bank tried to [...]
A tale of two retail sectors: Shares in fashion retailers fall as supermarkets jump September 15, 2016 It was the best of times, it was the worst of times in the retail sector today, as shares in retailers led both the risers and the fallers in the FTSE 100. Firmly in the spring of hope was the supermarket sector, where Morrisons led the risers, with shares jumping 7.13 per cent to 207.4p in [...]
Shadow MPC calls on Mark Carney to wait before pulling the trigger on another rate cut September 14, 2016 City economists have told Mark Carney to keep interest rates glued at their record low when the Bank of England meets today. City A.M.’s Shadow monetary policy committee (MPC) voted eight-to-one in favour of holding rates at 0.25 per cent, as experts said the governor and his fellow rate-setters should wait for more signs of [...]
UK could tie global Bank for International Settlements currency trading code into new senior managers rules September 14, 2016 The UK could be set to add another layer of scrutiny to its senior managers regime, by adding a requirement that bankers stick to the Bank for International Settlements' (BIS) new global code of conduct for the FX market. The first full draft of the code is expected by the market in October, with the final [...]