After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Jeremy Corbyn’s campaign launch: Here’s what he said about business July 21, 2016 Labour leader Jeremy Corbyn delivered a confident speech today as he launched his campaign to retain his place at the helm of the party. In a good mood, Corbyn announced that he would fight to rid the UK of its 21st century "five ills" of inequality, neglect, prejudice, insecurity and discrimination. His speech included a dig at [...]
Draghi to hold fire as Eurozone prepares for difficult summer season July 21, 2016 The European Central Bank (ECB) will edge closer towards extending its unprecedented stimulus package today as it enters a crucial period for the future of the single currency in the wake of the UK's Brexit vote. President Mario Draghi is expected to issue yet another last ditch call for national governments to help join him in the battle [...]
Why challenger banks see Brexit as an opportunity July 20, 2016 A group of challenger banks has written to the Treasury select committee to shine a light on the opportunity Brexit brings to cut banking red tape. The letter, which is signed by the chief executives of Aldermore, Charter Savings, Hampden and Co, Metro Bank, OneSavings Bank, Secure Trust Bank and Shawbrook, is dated 30 June. However, [...]
The Brexit vote will halve expectations of economic growth for the UK’s largest cities, according to the CEBR July 20, 2016 Some of the UK's largest cities will see economic growth drop by as much as half next year, according to one think tank, although some will be set to recover by 2018. A study of 38 cities by the Centre for Economics and Business Research found that while all would continue to grow, the expectations for [...]
FTSE 250 approaches pre-referendum highs as equities bounce continues July 20, 2016 Stock markets have surged again today on the back of strong employment data, as the closely-watched FTSE 250 hits a new post-referendum high. The mid-cap index, which is seen as a better gauge of the UK economy than the larger FTSE 100, climbed back above the 17,000 mark this afternoon, and is now down by [...]
UK shares and property worst hit as investor confidence plummets after Brexit vote July 20, 2016 Investor confidence has suffered a “substantial drop” since the EU referendum, a new report has found. Lloyds Bank said its investor sentiment index, launched in March 2013, has fallen to its lowest ever level, turning negative for the first time. It found investor confidence is increasingly negative in relation to asset classes exposed to the UK. Read more: [...]
Bank of England: “No clear evidence” of business slowdown since Brexit vote (yet) July 20, 2016 The Bank of England has said there is "no clear evidence" yet of a slowdown in business activity since the Brexit vote. But it also noted that "business uncertainty had risen markedly" after the referendum. In its monthly agents' summary of business conditions, the Bank said: "As yet, there was no clear evidence of a [...]
Why the UK will need more than rate cuts to offset Brexit shock July 20, 2016 Although growth has been less vigorous than in previous recoveries, the UK economy has made real progress since the Lehman-crisis — the private sector has deleveraged, household balance sheets have strengthened and labour market participation has reached a record high. The near-term Brexit-induced confidence shock promises to reverse some of these positive trends. Uncertainty will reign [...]
Evans Cycles owner ECI Partners applying the brake after slowdown in bike sales July 19, 2016 Evans Cycles is in talks with banks to overhaul its financing arrangements following industry-wide fears the bicycle market is peaking. The cycling chain, which is owned by private equity group ECI Partners, has initiated discussions with its lenders after a slowdown in UK bike sales, Sky News first reported. Crawley-based Evans Cycles has 63 stores [...]
Sterling edges off session lows as inflation beats expectations July 19, 2016 The pound reversed some of its losses against the dollar this morning, after new figures showed inflation beat expectations in June. Prices rose 0.5 per cent in the year to June, the Office for National Statistics (ONS) said – up from 0.3 per cent in May, and beating economists' expectations of 0.4 per cent. The [...]