After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
The FCA’s new broom must act fast to revive confidence in the regulator June 16, 2016 Tonight Mansion House once again acts as host to the great and good of the City’s financial services fraternity. Amid inevitable chatter about the EU referendum vote and darkening global economic clouds, attention will turn to the imminent changing of the guard at the Financial Conduct Authority. Almost a year has passed since its first [...]
Has the chancellor completely undermined his credibility by pledging post-Brexit tax hikes? June 16, 2016 Andrew Allum, chairman of the TaxPayers’ Alliance, says Yes. George Osborne’s credibility has been hanging by a thread for some time after missing just about every single fiscal target he’s ever set himself, but his latest contribution to the referendum debate is beyond the pale. He simply cannot possibly know the economic impact a leave vote [...]
City A.M. Shadow MPC votes 9-0 to hold rates before EU vote June 16, 2016 The Bank of England has no option but to keep interest rates on hold until after the EU referendum, leading city economists and experts have said. The Bank’s rate-setting monetary policy committee (MPC) meets today, just one week before the 23 June vote, with all eyes on governor Mark Carney who warned last month that a [...]
A Brexit vote is a gamble on the future of the young, London’s lord mayor to warn June 16, 2016 Voting to leave the EU represents a gamble on the future of young people, the lord mayor of London will today warn. Speaking ahead of chancellor George Osborne and Bank of England governor Mark Carney at the Mansion House, Jeffrey Mountevans will say that the young are under-represented in the Brexit debate, despite the relative [...]
Unemployment rate hits lowest level for 11 years and wage growth holds up June 15, 2016 The unemployment rate has fallen to its lowest level in 11 years, as EU referendum fears and the introduction of the national living wage failed to hold back UK firms. Falling from 5.1 per cent last month to five per cent, the headline unemployment rate in the three months to the end of April was the [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]
EU referendum: Ken Clarke reflects on a life spent pondering Europe June 15, 2016 Ken Clarke has not written the final chapter of his memoirs. It will be written, he says, after 23 June, so he can look back on the referendum on the European Union. After all, Europe is a thorny issue that has engulfed his political life, often put him at odds with his party and arguably [...]
Betting odds indicate 62 per cent probability of Remain as banks plan to draft in senior traders ahead of referendum night volatility June 15, 2016 Betting odds indicate that there is now a 62 per cent probability of a Remain vote in next week's referendum, according to Betfair. The implied probability of an In vote fell on Tuesday to around 55 per cent but then recovered to around 62 per cent later in the day, the bookmaker said. The slight [...]
The City of London will prosper in or out of the European Union June 15, 2016 A friend tells me why he is voting Remain. “My wife works for a French bank and they would pull out of London if we left the EU.” That’s fair enough. Assuming the French bank set up in London to access the EU, then it’s logical to assume it would leave after Brexit. But a [...]
Financial markets rocked as Leave campaign gains clout June 15, 2016 Financial markets were rocked yesterday as referendum jitters wiped around £30bn off the value of the UK’s top companies and sent investors fleeing for safe havens. The FTSE 100 crashed below the 6,000 mark, ending the day at 5,923 – its lowest finish since 24 February. The blue-chip index has now lost six per cent – [...]