After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Oil slips below $50 per barrel as global economic storm clouds gather July 5, 2016 The oil price has dipped below $50 per barrel as investors fret over a potential slowdown in global economic growth. It's feared that a global slowdown could result in a slackening in demand and recent supply outages in Nigeria and other exporting nations have not been enough to offset fears. At pixel time Brent crude was [...]
Strong demand for government debt in first post-referendum bond auction July 5, 2016 The UK government dipped its toe back into the waters of the global debt markets today, selling £2.5bn of bonds at record low interest rates in the first auction since the referendum. The debt, which came with a five-year maturity, will yield just 0.38 per cent in a sign investors are still keen to lend to [...]
Former chancellor Ken Clarke says Conservative leadership contest has left governor of the Bank of England Mark Carney to deal with aftermath July 5, 2016 A Tory grandee has warned that the nature of the race to replace David Cameron has left the governor of the Bank of England to deal with the fallout of the Brexit vote. Former chancellor Ken Clarke said that Mark Carney had been "left in charge of the shop" due to Cameron's decision to stand [...]
Carney loosens grip around banks and unlocks £150bn for UK economy July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, paving the way for an extra £150bn to be pumped into the UK economy, in its latest efforts to stop the UK spiralling into a post-referendum crisis. In a widely expected move, the Bank’s Financial Policy Committee (FPC) cut one of its extra [...]
Standard and Poor’s: UK will “barely escape fully-fledged recession” July 4, 2016 The UK will narrowly avoid a recession, but only if it stays in the single market for another two years and the Bank of England exhausts its policy toolbox to prop up the economy, a leading ratings agency has said. Standard and Poor's (S&P), said the UK's vote to leave the EU will knock more [...]
Brexit shines a light on pensions timebomb July 4, 2016 As the economic landscape shifts in the wake of the referendum, one of the most dramatic impacts has been on defined benefit, or final salary, pensions. In the days following the vote, liabilities in defined benefit schemes ballooned, causing deficits to widen. According to early estimates, the rise in liabilities could have increased the deficits [...]
City Moves for 4 July 2016 | Who’s switching jobs July 4, 2016 Towergate Towergate has appointed Kay Martin as commercial director. Kay will join the executive committee, reporting to CEO David Ross. She will join Towergate from Zurich UK where she has been a member of the UKGI executive team and chief marketing officer since June 2010. Kay recently assumed interim responsibilities for Zurich UK Personal Lines, taking on the role [...]
Osborne to slash corporation tax to below 15 per cent in bid to create a “super-competitive economy” July 3, 2016 George Osborne is planning to slash corporation tax to below 15 per cent in a bid to create a "super-competitive economy". The cuts are part of the chancellor's plan to attract businesses discouraged from investing in Britain following Brexit. In an interview with the Financial Times, Osborne said he wants Britain to boast the lowest corporation tax rate of [...]
Independent Scotland could become “Greece without the sun” July 3, 2016 Scotland could end up going the way of Greece if it voted to leave the UK in order to remain a member of the European Union as an independent country, a new report has argued. The Centre for Policy Studies (CPS) has warned Nicola Sturgeon the economic case for independence is even weaker than it was [...]