After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Asian stocks fall amid fears UK will vote to leave the European Union June 13, 2016 Financial markets are preparing for falls today after Asian stocks experienced the biggest intraday falls in over two months due to building worries that Britain may vote to leave the European Union in the upcoming referendum. The pound suffered when trading opened. Sterling fell to $1.4159 in early Asian trade, its weakest since April 18. There [...]
Week ahead: Investors watch BoE and sterling as EU vote nears June 13, 2016 Brexit braying and the Bank of England’s interest rate decision will be closely followed by investors this week. Ahead of the BoE’s announcement on Thursday we’ll hear from the US Federal reserve, and though markets are not expecting a move from either, investors will be paying close attention to the language used by policy makers. [...]
Yields on UK government debt have just hit a record low ahead of the EU referendum June 9, 2016 The price of government debt in both the UK and Germany hit record lows today, as investors rushed into safe haven assets with the EU referendum and further monetary stimulus on the horizon. The yield on the benchmark 10-year UK bonds hit 1.22 per cent this morning, the lowest since Bloomberg starting tracking the cost of debt [...]
The CMA’s retail banking recommendations have been slammed by experts addressing parliament’s Treasury Select Committee June 7, 2016 The Competition and Markets Authority's (CMA) work on the retail banking market is a failed opportunity, MPs have been told. One challenger bank boss said that the concentration risk in the market will take “decades” to unwind, speaking at a Treasury Select Committee hearing earlier today. Meanwhile, a former Competition Commission member said that the provisional recommendations issued [...]
City Moves for 7 June 2016 | Who’s switching jobs June 7, 2016 Ashurst International law firm Ashurst has announced that Dave Rome, managing director, head of EMEA loan markets at RBS, will be joining the firm as strategic director – corporate lending. Dave has spent over 25 years at RBS and NatWest, working in the UK and Europe as well as spending six years in Asia. In [...]
The war on cash is raging – should we welcome or fear the death of hard money? June 7, 2016 Cash is no longer king. Although the Bank of England unveiled a new, polymer-coated £5 note last week, the seemingly unstoppable march towards paper-free transactions continues. Electronic payments overtook notes and coins last year in the UK, according to the Payments Council, an industry body representing the banks and card machine industry. They now account for [...]
Lord Stern delivers stark warning to Mark Carney’s climate task force June 6, 2016 A leading economist said oil, gas and coal firms risk financial ruin if they ignore global climate agreements, in a stark warning to the task force set up by Bank of England governor Mark Carney. Lord Nicholas Stern, who is renowned for his work on climate change, warned: "Business models reliant on the assumption that governments were [...]
World’s most powerful women: Angela Merkel comes top for the second year in a row June 6, 2016 German chancellor Angela Merkel has been named the most powerful woman in the world for the second time in a row – while the Queen has moved up the list. Forbes' 2016 ranking of the world's most powerful women put US presidential candidate Hillary Clinton second for the second consecutive year, while Federal Reserve chair [...]
Bond yields in the developed world hit a record low – even the EU referendum won’t stop them falling June 6, 2016 Bond yields across the advanced world have touched a record low. The fall comes as the US looks set to delay its next interest rate hike, the effects of quantitative easing and negative interest rates continue to take hold and political uncertainty mounts. The yield on Bloomberg's global developed sovereign bond index dropped to 0.62 per cent – [...]
Steve Hilton interview: Cameron’s former advisor on supporting Brexit, decentralising government and why Boris shouldn’t take over as PM June 6, 2016 Steve Hilton was so unconventional during his time as Tory party spin doctor that when they came to parody him in The Thick of It, they had to tone him down. “He wears something I would never wear,” complained actor Vincent Franklin, “these ridiculous half-shorts, half-trousers.” Amid the charcoal suits of the Tory cabinet, Hilton [...]