After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
A stimulus package for the UK this August just became more likely July 26, 2016 A new package of stimulus measures just became more likely the next time the Bank of England's Monetary Policy Committee (MPC) meets, after a key member indicated he had had a change of heart. The central bank shocked numerous people earlier this month when it opted to keep interest rates at 0.5 per cent. Many had speculated the rate would be cut [...]
Watchdogs need to learn new tricks: MPs slam regulators over handling of HBOS collapse July 26, 2016 MPs have today slammed the finance industry's watchdogs for their failings in handling the HBOS scandal. The report from the Treasury select committee criticised the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), and, in particular, the FCA's predecessor – the Financial Services Authority (FSA) – for various shortcomings in conducting their review. In particular, the MPs highlighted the [...]
Top world economies commit to contain Brexit fallout at G20 finance ministers meeting July 24, 2016 World leaders have indicated they stand ready to act to ensure the UK's vote to leave the EU does not upset already-fragile global economic growth. G20 finance ministers and central bank governors said the world's largest economies "are well positioned to proactively address the potential economic and financial consequences stemming from the UK referendum," at the conclusion [...]
Enjoy it while it lasts: Bumper GDP figures to mask post-vote slowdown July 24, 2016 The UK economy grew handsomely in the second quarter of the year, official data out this week is expected to show, though analysts suspect it will be the last piece of good economic news for the foreseeable future. GDP growth is pitted to come in at around 0.5 per cent for the three months to [...]
Carney says global economy has weathered uncertainty well July 24, 2016 Mark Carney has said the global economy has successfully weathered uncertainty, including downward revisions to global growth and the initial shock of the EU referendum result. In a letter to G20 finance leaders and central bank governors, the governor of the bank of England said in his capacity as the head of the Financial Stability Board [...]
Pound extends losses as UK economy contracts at “fastest pace since 2009” July 22, 2016 The pound edged nearer a post-referendum low against the dollar in more than five years after figures this morning showed the UK's economy has contracted at its "steepest pace since early 2009". The pound was down more than one per cent against the dollar in lunchtime trading, at $1.3096, and almost 0.9 per cent against the euro, at [...]
Beware the unintended consequences of Theresa May’s flawed executive pay proposals July 21, 2016 Theresa May is absolutely right to ensure that the UK does not work for just “the privileged few”. But her suggestions for reforming executive pay – while well-intentioned – are not backed up by evidence and may well backfire. Before addressing the specific suggestions, let’s first ask whether the government should be intervening in the first [...]
Provincial England has taken over Westminster – and it’s put state intervention back in vogue July 21, 2016 The EU referendum paved the way for the industrial strategy now defining Theresa May’s first weeks in office. Why? Because the provincial English working class and lower middle class forced the country out of its status quo and administered a huge shock to the system. Politicians are realising that options they never previously considered are [...]
Another challenger bank just got its banking licence July 21, 2016 The challenger bank race is hotting up as another startup is granted a banking licence. Germany’s Number 26 has been fully approved by authorities to operate as a bank across Europe, and plans to launch in the UK imminently. The three-year-old fintech startup backed by billionaire Paypal founder Peter Thiel now has the stamp of [...]
Mario Draghi maintains rates in first ECB meeting since Brexit vote July 21, 2016 The European Central Bank (ECB) has left rates unchanged across the Eurozone, in line with analysts' expectations. The rates were decided at the first meeting of Europe's central bank since the UK voted in favour of a Brexit last month. Economists were expecting no change to current rates, with the headline deposit rate remaining at [...]