After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
With monetary policy in the frame at Jackson Hole this week, are negative interest rates a looming disaster? August 23, 2016 Ben Habib, chief executive of First Property Group, says Yes. Since the late 1980s, the principal weapon used against economic setbacks by the central banks of western developed economies has been ever looser monetary policy. This approach initially worked well, serving to support both real economies and asset prices. Those of us who were lucky enough [...]
Health alert issued ahead of heatwave in London August 23, 2016 Public Health England (PHE) has issued a health warning as London braces for a heatwave over the next few days. The east of England was hit by a heatwave today, and soaring temperatures are now forecast for the south east and the capital. The Met Office today declared a Level 3 heatwave alert, which means [...]
Sterling stops the Brexit slide by hitting three-week high August 23, 2016 The pound has climbed higher again today as the trickle of strong post-referendum data boosts the outlook for the beleaguered currency. Sterling briefly touched above $1.32 this morning, a three-week high, before falling back to stand at $1.3187, up 0.4 per cent on the day and nearly four cents clear of last week's low. The pound also [...]
This challenger bank is moving to a larger London HQ August 23, 2016 Hampshire Trust Bank has revealed today it will be moving to larger London headquarters to house its expanded team. The bank, which launched in its current format two years ago, is planning to make the move from its 7,500 square foot headquarters near the Barbican to a newly refurbished 21,000 square foot office on Bishopsgate. In its most [...]
Watch out Carney: Here’s what Japan’s central bank just said about fintech August 23, 2016 The Bank of England made history this summer with the launch of the first ever fintech accelerator by a central bank. But, forward-thinking Mark Carney is not the only governor eyeing the potential of the fintech sector and its future role in monetary policy making and central banking. Haruhiko Kuroda, the governor of the Bank of Japan, has indicated [...]
Theresa May’s Olympic praise sheds light on her industrial strategy vision August 22, 2016 Theresa May returns to Downing Street this week after a walking holiday in Switzerland, a reminder to anyone still basking in the sun with a bottle of rosé that autumn is now upon us. Unlike the rest of us mortals who spend the first day back in the office clearing out the inbox, the Prime [...]
Co-op Bank considers bumping up base pay for executives to overcome bonus rules August 21, 2016 The Co-operative Bank is considering raising salaries to get around rules that hamper bonuses. It is understood the bank is looking for ways to increase pay packets in a bid to secure top talent, but is struggling to do so thanks to the bankers' bonus cap rules, which stems from an EU directive. More specifically, under the rules laid [...]
Janet Yellen to talk interest rates and Fed shake-up at Jackson Hole August 21, 2016 The Federal Reserve's No. 2 ratesetter has signalled the US economy should prepare for a rate rise in the near future, as Janet Yellen gears up to make a key intervention at the annual central bankers' gathering at Jackson Hole, Wyoming. Stanley Fischer, vice chairman of the Fed said this afternoon he believed the US would [...]
RBS to introduce negative interest rates on corporate investment accounts August 19, 2016 The Royal Bank of Scotland (RBS) is to start charging some of its top corporate clients to hold cash with the bank. RBS wrote to some of its largest investment banking customers this week to tell them it could no longer let them keep cash held as collateral in their accounts for free and will impose negative interest rates from [...]
Top ONS economist: Brexit recession still possible August 19, 2016 The top economist at the Office for National Statistics (ONS) has warned it is too early to rule out the prospect of a recession, despite a flurry of strong post-referendum indicators. Joe Grice, ONS chief economist told Bloomberg this morning there were still too many pieces of the puzzle to put together and would not like to [...]