After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
An independent Scotland inside the EU would be an economic powerhouse July 18, 2016 Some people seem surprised that Theresa May flew to Edinburgh to parley with Nicola Sturgeon, Scotland’s First Minister, only three days after arriving at Number 10. Britain’s new Prime Minister is acutely aware that Scotland voted decisively (62:38) to stay in the EU. Brexit is precisely the “material change of circumstance” cited in the SNP’s recent [...]
The Bank of England says issuing an official cryptocurrency could raise economic output July 18, 2016 Introducing a Bitcoin-style official currency could boost economic output, help maintain financial stability and smooth the cycle of boom-and-bust, the Bank of England has found. A new report from wonks at Threadneedle Street has modelled the impact of a central bank issuing a new legal tender based on blockchain or distributed ledgers – the technology behind Bitcoin – finding [...]
City is “still slightly stunned” by “really bad news” of Brexit, says chief exec July 18, 2016 Brexit is “just really bad news”, the chief executive of Old Mutual Global Investors (OMGI) has said. Richard Buxton also denied there was any “doom-mongering” in the run-up to the vote – “because it is absolutely going to be horrible”. Read more: Old Mutual becomes the next company to wave away Brexit Defending Bank of [...]
Another fintech startup – MarketInvoice – shakes off Brexit with millions in new funding July 18, 2016 Peer-to-peer lender MarketInvoice is another startup shaking off Brexit with a new multi-million pound round of funding as it nears the £1bn lending milestone. The London firm has raised £7.2m, led by Polish venture capital and private equity firm MCI Capital through its TechVentures Fund with further cash coming from existing investor Northzone, which boasts previous invesmtents in Spotify [...]
Despite the comfort from greater political stability, could sterling still reach parity against the US dollar? July 18, 2016 Lukman Otunuga, research analyst at FXTM, says Yes. Sterling received a pummelling in June, with prices crashing to 31-year lows against the dollar following the shock Brexit victory. Financial markets were rattled, and it was obvious that the Brexit outcome was severely underpriced, with even the bookkeepers being completely on the wrong side of the [...]
NatWest launches a not-so-small fund for small businesses July 18, 2016 NatWest will say this morning that it has faith in small businesses, while launching a £1bn fund. The bank is launching a new lending fund, which is designed to support the growth of businesses across England and Wales which have not yet broken the £2m mark for turnover. "Small businesses make up more than 99 per [...]
Bank of England MPC members want more than just lower interest rates July 17, 2016 One of the Bank of England's interest rate setters has said the looming cut to interest rates might not be enough to support the UK economy. Gertjan Vlieghe, the newest member of the nine-strong monetary policy committee (MPC), wrote in the Financial Times today that the UK is heading for a period of "lower growth and higher [...]
FTSE 100 finishes higher for the third week in a row – but pound dips July 15, 2016 After a day of trading in negative territory, the FTSE 100 managed to heave itself into the green in the minutes before the bell, finishing 0.2 per cent higher, at 6,669.2 points. That meant the index finished up on the beginning of the week for the third time since the EU referendum. Today's rise was [...]
Blockchain startup claims funding “milestone” and big name board members July 15, 2016 London-based blockchain startup Setl has named two new high-profile board members after closing its first private funding round. Rachel Lomax, the former deputy governor of the Bank of England, and Ed Richards, the former chief executive of broadcast regulator Ofcom, have joined ex-Barclays chairman Sir David Walker on the board. Setl also said it would be [...]
Bank of England chief economist Andy Haldane wants “muscular” easing to help economy post-Brexit vote July 15, 2016 The Bank of England's chief economist has said it must act "promptly as well as muscularly" to counteract the effects of Britain's vote to leave the European Union. In a speech delivered a week after the EU referendum, Andy Haldane said that Threadneedle Street should ease monetary policy to protect the economy and jobs. Read more: [...]