After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Recruiters say UK jobs have been in “freefall” since the Brexit vote August 5, 2016 The number of people in permanent work fell by its sharpest amount since the recession in July, it was revealed this morning. Pay rises have also ground to a halt and even the rise of temporary workers stuttered in the first full month after the referendum, the latest report on jobs from Markit and the [...]
New chancellor Philip Hammond should resist the temptation to splash the cash in the wake of the UK’s Brexit vote August 5, 2016 No one can accuse the Bank of England of shying away from its responsibilities. Whether you’re a dove or a hawk, it’s impossible to deny that yesterday’s move was an exceptionally bold attempt to help the British economy deal with the fallout from June’s Brexit vote. Attention has quickly turned to the government, with Bank [...]
Bank rate cut: Property investment crowned winner while savers lose out August 5, 2016 The Bank of England launched a massive stimulus package yesterday in a bid to save Britain from recession. The Bank’s monetary policy committee (MPC) voted unanimously to slash interest rates to an all-time low of 0.25 per cent. Take a look at the winners and losers of the rate cut: WINNER: Property investment The cut to interest rates is [...]
Thank Mark Carney if Britain escapes a post-Brexit recession August 4, 2016 The 0.25 per cent cut from 0.5 per cent, itself already a record low, finally came yesterday, a month later than the market had anticipated. It was the first move in interest rates by the Bank of England in seven years. I often wondered whether membership of the Monetary Policy Committee (MPC) wasn’t the best [...]
As the Bank cuts interest rates and restarts bond purchases, will it succeed in stimulating the economy? August 4, 2016 Dean Turner, UK economist at UBS Wealth Management, says Yes. With the threat of a sharp slowdown looming, the pre-emptive strike by the Bank of England with a comprehensive package of easing measures, should ease the pain. The measures were more than the markets were anticipating, as was the signal that the Bank stands ready to [...]
Carney’s monetary policy to the rescue? Let’s be honest, probably not August 4, 2016 As was expected by most market watchers, the Bank of England has reacted to the poor PMI and the weakening economic outlook since the referendum by taking several decisive actions today. However, it is right to be sceptical about the success of these measures and question whether the Bank's actions will be suited to support [...]
Record pension deficits could balloon by a further £30bn after interest rate cut August 4, 2016 Today’s interest rate cut could see the deficits of beleaguered pension schemes rise by another £30bn according to experts. "The Bank of England’s decision today is painful for pension schemes," said Charles Cowling of the JLT Employer Benefit Index, which announced record deficits earlier this week. Read more: Pension deficit headache for British companies Matt Saunders of [...]
Trade association asserts that builder’s merchants sales are strong August 4, 2016 The trade association representing builder's merchants has stressed today that sales are in the industry are strong after construction supplier Travis Perkins said that it had been hit by the Brexit vote. The Builders Merchants Federation said sales in the sector were up were up 3.1 per cent in June as compared to the same period last [...]
Sterling falls as the Bank of England moves to prop up the economy – but how will a weaker pound affect your finances? August 4, 2016 NULL
Before the bell: What you need to know before the US market open August 4, 2016 The Bank of England has cut interest rates and markets are loving it. Here's what you need to know before the US market open at 2:30pm London time. US stock futures are pointing up ahead of the open. The S&P is up by 0.15 per cent, the Nasdaq is up by 0.05 per cent, while [...]