After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Has the Bank of England gone over budget on a website for the new £5 note? April 27, 2016 The Bank of England is a digitally savvy outfit these days. In honour of all the new banknotes being printed this year, the British central bank has decided to create a website devoted to the new five pound note, www.thenewfiver.co.uk. The microsite, expected to launch fully in June, will provide helpful information on the new [...]
Get ready for another bout of Fedspeak when the US Federal Reserve holds interest rates this evening April 27, 2016 The US Federal Reserve will not be raising interest rates this evening. Neither will Janet Yellen – or anybody from the rate-setting Federal Open Markets Committee (FOMC) – be holding a press conference to announce the non-decision. That won't be enough to stop markets working themselves into a frenzy at around 7pm when a written [...]
City Moves for 27 March 2016 | Who’s switching jobs April 27, 2016 Saxo Bank Saxo Bank, the trading and investment specialist, has appointed Jeff Zorek as chief operating officer of global sales based in London and reporting to Matteo Cassina, global head of sales. Jeff joins Saxo with over 30 years of financial services experience, managing businesses in securities trading, high-speed electronic execution, risk management, clearance, settlement and [...]
Obama effect holding steady as sterling soars against the dollar April 26, 2016 The pound has soared against the dollar today, smashing through the $1.46 mark and extending a run of gains that has caused sterling to rise by six per cent in the past 10 weeks. This afternoon, the pound was trading at $1.4614, up 0.91 per cent on the day. Sterling's gains were mirrored against the euro, where it was [...]
There’s still more to come from UK banks’ connections to the Panama Papers, says the financial watchdog April 26, 2016 The Financial Conduct Authority (FCA) is still looking into the link between UK banks and the so-called Panama Papers tax avoidance leaks. The financial watchdog has written to around 20 banks and other financial institutions asking about their connection to Panamanian law firm Mossack Fonseca. The FCA gave firms a deadline of 15 April to undertake an initial review but there's still a [...]
Brexit myths debunked: The Leave campaign shouldn’t fear arguing that leaving the EU would be good for the economy April 26, 2016 Conventional commentariat wisdom has it that the EU referendum pits those concerned about economics versus those concerned about immigration. But a quick perusal of the leading intellectual voices supporting Leave shows this is nonsense. Many have long thought the UK outside the EU would not only be more free and democratic, but more prosperous too. That’s [...]
Quantifying bank quality: Why four star TSB beats one star Barclays at delivering shareholder value April 26, 2016 Imagine you are on the short-list to become the chief executive of a bank. The interview is going well. It looks like you are their man. But then the conversation turns to rewards. The headhunter explains that you will be rewarded for increasing the bank’s price/book value. They give you a blank sheet of paper [...]
The Bank of Japan could unleash a triple dose of monetary stimulus – negative interest rates, quantitative easing and paying banks to borrow more April 25, 2016 The Bank of Japan (BoJ) looks geared to ramp up its reputation for out-of-the-box thinking when it meets later this week, unveiling an extra bout of monetary easing which could lead to it paying banks to borrow money. Japan's fight with deflation has been notorious. In 10 of the last 20 years prices have actually [...]
UK house prices: Hundreds of thousands of homeowners who bought in 2007 are still stuck in negative equity April 25, 2016 Average house prices in more than half of UK towns and cities are still below 2007 levels, new research has claimed, trapping hundreds of thousands of people who bought at the top of the market in negative equity. Around 1.5 million property transactions were completed at the top of the market before the banking collapse [...]
“Less is more”: Is this the real reason the Bank of England hasn’t hiked interest rates? April 25, 2016 Have we all just been given an unusually candid insight into the mindset of the Bank of England's notoriously dovish monetary policy committee? An economist at the Bank has revealed that it has been offering its employees trendy mindfulness courses – and its mantra is "less is more". Is it a coincidence Mark Carney hasn't raised rates for almost three years? The [...]