After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Soaring demand for bankers, insurers and accountants, but graduates left out in the cold May 31, 2016 Finance firms across the UK are on a hiring spree, as the number of job vacancies in banking jumped by ten per cent last month. The new analysis of job openings by a group of recruitment firms will provide welcome respite from reports of swingeing job cuts, as the Association of Professional Staffing Companies (Apsco) [...]
Bank of England in a sticky situation with new £5 banknote May 30, 2016 The Bank of England (BoE) has got itself into a bit of a sticky situation when it comes to the imminent introduction of a new five pound note. The fiver, to be unveiled this week and introduced into circulation later this year featuring the face of Sir Winston Churchill, will be the first made of polymer rather than [...]
EU referendum: Former HSBC chief executive makes the case for Brexit May 29, 2016 The former chief executive of HSBC, Michael Geoghegan has made the positive case for Britain leaving the European Union in a report that argues the UK must "take back control over the City". The paper, co-authored with Peter Udale, an independent risk consultant, says the Bank of England has "given the impression that all the risks [...]
Forward misguidance: Unreliable central banks are fuelling market volatility May 27, 2016 At the bottom of every financial prediction or statement, often buried under mountains of small print, is a warning that past performance is not necessarily indicative of future results. This is true whether we look at stock markets, investment funds or central banks. Since 2013, however, some of the world’s largest financial institutions have been [...]
Coca-Cola chief executive tops international black, Asian, and minority ethnic executive power list May 26, 2016 The boss of The Coca-Cola Company, Muhtar Kent, has topped a list of Black, Asian and minority ethnic (BAME) bosses from around the US, UK and Ireland. The ranking, put together by executive search firm Audeliss, placed Manjit Wolstenholme, chair of Provident Financial second and Albert Cheng, chief operations officer at Amazon Studios in third. Its release follows a similar one from the House of Lords [...]
The cost of hedging against a swing in the value of the pound just hit a seven-year high May 26, 2016 The price of hedging against volatility on the currency markets spiked today, as traders become increasing nervous with just four weeks to go until the EU referendum. The cost of insuring against swings on the value of the pound, as measured by one-month options for swapping sterling into US dollars hit a seven-year high today. [...]
No charge for early exit on pensions under FCA proposals May 26, 2016 Firms will not be able to charge consumers for taking money out of their pensions early under new proposals put forward by the FCA. The watchdog is calling for a one per cent cap on for people with existing contract-based personal pensions, including workplace personal pensions. But for future pensions, firms will be banned from applying fees. [...]
Buy to let investors are feeling the heat: What are the alternatives for gaining exposure to residential property? May 26, 2016 The buy-to-let boom of recent years has fed the stereotype that Brits are uniquely obsessed with property. Yet statistically this appears to be little more than a myth. The latest data from Eurostat show that 64.8 per cent of the UK adult population lives in a property they own compared to an EU average of [...]
Here’s why banks have – and can keep – the upper hand over P2P lenders May 26, 2016 I asked a former chief investment officer of a huge bank a couple of years ago which bank would buy up P2P firms first. They replied: “no, which P2P firm will buy a bank?” Deloitte’s report this week on marketplace lending (MPL) suggests they were wrong. It concludes that the success of P2P lenders is [...]
The pound’s looking sound as it gains even more ground May 25, 2016 There's no doubt about it – the pound is tearing it up this week. Sterling smashed through another barrier this afternoon to stand at $1.4708, up another 0.5 per cent against the US dollar on the day and approaching one of its highest levels for the year. Read more: Sterling volatility just hit a seven-year high Against the euro, the quid [...]