After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
These experts say the Bank of England should throw the kitchen sink at the UK economy – including a rate cut and QE August 2, 2016 Banking analysts have urged the Bank of England (BoE) to do everything it can to boost the UK economy and said the case for stimulus is clear. Analysts at Bank of America Merrill Lynch (BoAML) said in a note today that UK soft data "looks bad… the economy has taken a big hit and may be [...]
City heavyweight Lady Barbara Judge has joined a startup August 2, 2016 One of the most well-known women in British business and the outgoing head of the pensions lifeboat is joining a technology startup that wants to disrupt how businesses manage workers. Lady Barbara Judge, who also chairs the Institute of Directors (IOD), has been named chairman of Hibob, the London-based startup which boasts backing from Saul and Robin Klein's [...]
Banks risk a visit from the ghosts of the past August 2, 2016 In the wake of the financial crisis, the public wanted to see banking bosses held to account and a regulatory system introduced which would ensure the banks' near collapse could not happen again. As part of this overhaul, banks have had to bolster their capital buffers and undergo stress tests. Last Friday, the European Banking Authority [...]
The economy post-Brexit: More QE or cutting interest rates? The UK’s poor productivity’s the real elephant in the room August 2, 2016 Uncertainty over the health of the global economy persists, as a checkered patchwork of data releases add to speculation over what the future holds. In the UK, the Brexit vote has amplified worries about the economy. “It remains hard to see how the UK can avoid recession altogether, possibly starting as soon as the third quarter,” [...]
There is a 98 per cent chance the Bank of England will cut interest rates August 1, 2016 The Bank of England is almost certain to slash interest rates when its rate-setting monetary policy committee (MPC) meets for the second time since the EU referendum this week. Futures markets indicate there is a 98.1 per cent probability the MPC will cut rates to a new record-low of 0.25 per cent, slightly up on [...]
Manufacturing stutters forward in the Eurozone as PMI dips slightly August 1, 2016 Factories in the Eurozone entered the summer with a slight wobble, as output dipped and fundamental weaknesses in the manufacturing sector appeared stubborn. The purchasing managers' index (PMI) for manufacturing across the single currency bloc slipped to 52 in June, down from 52.8 in July, on a reading where scores above 50 mark expansion. It [...]
UK manufacturing PMI sinks even lower after EU referendum August 1, 2016 The most up-to-date measure of economic output among UK manufacturers has slumped to its lowest level in more than three years following the EU referendum. The manufacturing purchasing managers' index (PMI), which is closely watched by policymakers at the Bank of England, dropped to 48.2 in July, from 52.4 in June. That was even lower than a [...]
Pension deficits reach a new high before interest rate decision August 1, 2016 The pension deficits of UK private companies reached the record level of £390bn at the end of July, having leapt by £80bn in the last two months alone. Public companies fared no better in the JLT Employee Benefits Index, as FTSE 350 companies’ defined benefit schemes deficits increased from £114bn in May to £156bn in July. “Markets may [...]
Week ahead: Banks take centre stage for results and interest rates August 1, 2016 The Bank of England is widely expected to cut interest rates for the first time in seven years this week as it assesses the fallout from the UK’s vote to quit the European Union. The Bank held fire in July in the immediate aftermath of the Brexit vote, catching some analysts off guard. Policy committee members [...]
Brexit brings dark clouds to financial services, but there are some patches of sunshine ahead August 1, 2016 June's Brexit vote may bring doom and gloom to the economy and, by extension, the financial services sector, according to research out today. EY's ITEM Club outlook for financial services has predicted lending to businesses will fall by nearly two per cent in 2017 and a further one per cent in 2018, thanks to a bleaker economic outlook following 23 [...]