After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Pensions deficits have grown at a rate of £2bn a day since rate cut August 9, 2016 The Bank of England's interest rate cut last week has already cost Britain's largest companies a further £10bn in order to manage their pension deficits. According to data prepared by pension specialist Mercer, the aggregate deficit of the largest 350 listed companies has increased from £139bn go £149bn in the five days since Mark Carney's announcement to adjust Britain's [...]
Worldpay shrugs off Brexit concerns as bumper earnings send shares higher August 9, 2016 Worldpay shares have nudged last year's peak today after the company reported better-than-expected earnings and declared a maiden interim dividend of 0.65p per share. The UK's largest payments processor reported a rise in first-half underlying earnings and pre-tax profit. It follows a disappointing first full year for the firm as a listed company. For the six months to [...]
Bank of England suffers bond setback as QE kicks off again August 9, 2016 The Bank of England’s attempt to buy long dated gilts as part of its quantitative easing (QE) programme hit a rough spot today, with the central bank failing to attract enough offers from investors. The Bank's reverse gilt auction was only 96 per cent covered – it had planned to purchase £1.17bn of government bonds with maturities longer than [...]
UK economy contracted in July amid Brexit fallout August 9, 2016 The UK economy contracted in July as the UK was left reeling from the fallout of the vote to leave the European Union, a leading economic think tank has estimated. The National Institute of Economic and Social Research (Niesr) said the UK shrunk by 0.2 per cent during the political turmoil of July. Niesr said the figures confirmed their [...]
UK posts mighty trade deficit in month of EU referendum August 9, 2016 The UK trade deficit ballooned to a huge £5.1bn in June, far ahead of expectations and raising more questions about how the UK's exporters and importers will fare after the referendum. The figures, released this morning by the Office for National Statistics (ONS), also showed imports reached their highest ever level in a single month [...]
Sterling slips on more Bank of England stimulus speculation August 9, 2016 Sterling has fallen to a one-month trough against the dollar and bond yields have set a new all-time low this morning as the prospect of ultra-loose monetary policy from the Bank of England continues to drag on the currency. The pound slipped below $1.30 for the first time since mid-July overnight after monetary policy committee (MPC) hawk [...]
Owen Smith says that under the Conservatives Britain is the “sick man leaving Europe” August 8, 2016 Labour leadership contender Owen Smith has said that under the Conservatives Britain is the "sick man leaving Europe", adding that the country is too dependent on the City and financial services. Speaking in Newcastle, Smith said that action taken by the Bank of England last week shows the British economy is on a cliff edge, requiring an urgent [...]
The pound has not been so sterling after Brexit: How currency weakness will hit our travel plans, inflation and trade August 8, 2016 The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even [...]
Shares, stocks and corporate news: What you need to know before the open August 8, 2016 The FTSE is expected to begin the week cautiously as the markets continue to absorb a dramatic week in the UK and a pair of surprises from overseas. The FTSE 100 is expected to open trading up 3 points at 6,796, while the German DAX is predicted 14 points higher at 10,381, and the French [...]
As calls for the chancellor to apply some fiscal stimulus grow, do we really want more public spending? August 8, 2016 Scott Corfe, director at the Centre for Economics and Business Research, says Yes. The UK economy is set to slow drastically over the coming quarters, with the Centre for Economics and Business Research expecting GDP growth to decline from about 1.5 per cent this year to less than 0.5 per cent in 2017. A recession – [...]