After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Mark Carney prepares to cut rates and raises prospect of more quantitative easing June 30, 2016 The governor of the Bank of England has told markets to expect a cut in interest rates as he warned the economy was in for a period of prolonged uncertainty and significantly slower growth in the wake of the EU referendum. In his second intervention since the UK voted to walk away from the EU, [...]
OBR scraps July fiscal sustainability report due to Brexit vote fallout June 30, 2016 The UK's fiscal watchdog scrapped its medium-term forecast which was due out next month, citing uncertainty from the UK's decision to leave the European Union. The OBR said Brexit uncertainty meant it wasn't currently worth making estimates using its previous prediction. This means the first official economic forecast post-vote will be the Bank of England's quarterly inflation report due out in August. Read more: [...]
Did Boris Johnson just move the currency markets? June 30, 2016 Traders have managed to keep a cool head today, despite the fallout from the UK's vote to leave the EU continuing to shock the political world, and many clamouring to link the two. The FTSE 100 was down, then up, then flat in the first half of the day's trading, standing unchanged at 6,357 at lunchtime. [...]
UK current account deficit running at a near record high June 30, 2016 The UK's current account deficit is still running at a near record high, stoking fears about a balance of payments crisis in the wake of the UK's referendum on the EU. The deficit – a measure of the difference between money coming in and going out of the country – came in at £32.6bn in the [...]
It’s premature to assume Britain will plunge into recession June 29, 2016 As the dust settles on last week’s referendum, pretty much every verdict I have heard or read agrees that the UK economy faces a period of contraction and the market has moved very quickly to price that scenario in. At first glance, this case is persuasive. There has been clear evidence of deferred investment in [...]
Will Brexit affect my pension? All your post-referendum questions answered June 29, 2016 While it was always expected to be close, the fact that the UK has voted to leave the European Union is a genuine shock for most people. With the vote exposing divides between England and Scotland/Northern Ireland, London and the rest of the UK and younger and older members of society, what will it mean for [...]
Arsene Wenger is a genius but is not the man England need to end decades of underachievement June 29, 2016 It's tempting to believe that Arsene Wenger – one of the most sophisticated minds to shape the English game over the last two decades and a man on the Football Association's shortlist to succeed Roy Hodgson – could be the right man to rescue the national team. After all, the Frenchman is synonymous with the attacking flair that England [...]
Despite market turmoil, analysts say a liberal Brexit could be a boon for UK economy June 29, 2016 The financial markets have over-reacted to the UK's vote to leave the EU because those buying-and-selling cannot remember the positive effect of leaving the Exchange Rate Mechanism (ERM) in 1992, an asset manager has said. In an upbeat outlook on how well the UK can perform now it has begun the process of severing ties [...]
Borrowing reached an 11-year high before the EU referendum June 29, 2016 Lending to British households grew at its fastest pace in a decade in the run up to the EU referendum, new figures from the Bank of England have shown. Consumer credit – a measure of loans and credit card debt, but not mortgages – grew by 9.9 per cent in the year to May, the fastest [...]
Now even Thomas Piketty has quit as an adviser to Jeremy Corbyn June 29, 2016 Thomas Piketty, one the world's most famous left-wing economists and inequality campaigners, has left his position as an adviser to Labour leader Jeremy Corbyn. Piketty, who shot to worldwide fame in 2013 with his highly-cited, less-often-read treatise on inequality, "Capital in the Twenty-First Century", was a member of Corbyn's economic advisory council, but has stepped down and attacked [...]