After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
This is no new financial crisis – but Britain needs to show the world that it’s open for business July 6, 2016 The UK economy was on a reasonably firm footing going into the referendum, though growth had lost some of its momentum from last year. While uncertainty was already affecting business confidence, household spending was supported by stable job creation in a low inflation environment. Since then, the falls in financial markets partly reflect expectations of [...]
Bank of England: How climate change news affects energy firms’ share prices July 6, 2016 Bloggers over at the Bank of England have looked at the effect of climate change news on energy firms' valuations. Central banks are paying more attention to whether climate goals will leave vast reserves of oil, coal and gas unburnable, meaning fossil fuel firms are overvalued. Bank of England governor, Mark Carney, previously warned investors [...]
At the open: Strong FTSE 100 highlights wider Brexit fears July 6, 2016 Financial markets appear to be getting themselves into a bit of a pattern in the wake of the EU referendum. As sterling moves one way (down, inevitably), the FTSE 100 moves in the other. This morning is no different. After a small hiccup at the open, London's leading benchmark rose 0.4 per cent to 6,570, [...]
Sterling falls to a 31-year low while gold jumps amid ongoing Brexit concerns July 6, 2016 The British pound fell to fresh 31-year lows against the dollar and multi-year lows against a host of other currencies this morning. After closing two per cent lower at $1.3022 yesterday, it hurtled to break through the $1.30 barrier again this morning for the first time since 1985. It hit a new low of $1.2798, though [...]
It’s a grim day to be a challenger bank, with shares taking a nosedive following bad Brexit vote news July 5, 2016 A slew of trading suspensions for property funds along with some stern words from the Bank of England has made this a bad day to be a challenger bank. Shares in many UK challengers, including Shawbrook, OneSavings and Virgin Money, all slid after Aviva became the second property fund to suspend trading in just as many days. M&G [...]
Sterling sinks below $1.30 for the first time in over three decades July 5, 2016 Sterling has been knocked back today, tumbling against the dollar and the euro as the ramifications of the Brexit vote continue to filter through. The pound was off by two per cent against the dollar, falling to exactly $1.2997 shortly after the London market close. It bounced after falling under the psychological barrier, climbing back to dizzy highs [...]
At the close: Sterling and stocks break apart July 5, 2016 In yet more proof the stock markets and the UK economy don't always move in lock-step, the FTSE 100 jumped today, while the pound slumped, and signs of a post-referendum slowdown grew. The index of the UK's top 100 companies started the day down as it looked like the post-referendum bounce was drawing to a [...]
Aviva and M&G become the latest property funds to suspend trading as investors flee the Brexit-battered industry July 5, 2016 Two more property funds have suspended trading today as investors pull their money out of UK commercial property. M&G announced this afternoon that it was temporarily suspending trading in the shares of the M&G Property Portfolio. And earlier today Aviva suspended trading in its property fund, just after the Bank of England said this morning that it was [...]
Carney for PM? Bank of England governor praised for Brexit response July 5, 2016 With political crisis engulfing Westminster in the wake of the EU referendum, businesses have increasingly had to rely on other sources of authority to fill the void. David Cameron has been conspicuously absent from the big stage since he resigned in the hours after the vote, while the Conservative leadership race has hijacked much of the decision [...]
Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]