After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Chancellor George Osborne approves Sir Charlie Bean’s shake up of UK economic statistics March 17, 2016 An overhaul of the way the UK collects and manages its economics data has been approved by the Treasury. Plans for an Economics Centre of Excellence and Data Science Campus at the Office for National Statistics (ONS) have been announced as part of the budget. Around £17m of investment will support the initiatives at headquarters of [...]
Budget 2016: The ‘Graph of Doom’ and the UK’s £100bn secret weapon March 16, 2016 Another budget, another round of public funding cuts. Whatever the efficacy of George Osborne’s latest round of cuts to public services, one thing is increasingly clear: while government backs British business to flourish and focuses on ensuring the UK is ‘living within its means’, someone must fill the growing public services gap. When projecting their future spending power [...]
Chancellor George Osborne to borrow £33bn more than expected over next five years despite boost from cheap debt March 16, 2016 Chancellor George Osborne will borrow an extra £33bn over the next five years as he ruled out making cuts to make up for a tax receipts shortfall. Weaker economic growth left Osborne with a £49bn tax receipts hole over the rest of the current parliament and £69bn gap over the next five years. Lower incomes alone will lead to a [...]
Budget 2016: Government confirms plans to consult on privatisation of Land Registry, with Advent International and others interested March 16, 2016 George Osborne today confirmed plans to privatise the Land Registry. The proposed sale was announced by the chancellor in his Budget, delivered this afternoon. City A.M. understands buyout firm Advent International and others are considering bids for the agency, which has previously been valued at £1.2bn. Read more: Firms consider bidding for £1.2bn-valued Land Registry The Budget [...]
Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
UK employment maintains record high as pay growth continues to rebound March 16, 2016 The UK's employment rate remained at 74.1 per cent between November and January, the joint-highest since records began in 1971. The headline unemployment rate maintained its 10-year low of 5.1 per cent, the data released this morning by the Office for National Statistics (ONS) shows. There are now 171,000 fewer people unemployed than in the same period last year. [...]
UK weather: Dreaming of a White Easter? Snow in March or April is more likely than at Christmas – but probably won’t happen this year March 15, 2016 In recent weeks we have seen headlines which would lead us to think that the weather forecast for this Easter could be one of two extremes. On the one hand “sudden stratospheric warming” could bring bank holiday snow and sub-zero temperatures – and on the other, you could believe that Britain is “set for a heatwave” with highs [...]
Advent International and others mulling £1bn-plus Land Registry takeover as government considers privatisation March 15, 2016 Advent International and others are considering bids for the government's £1bn-plus-valued Land Registry. City A.M. understands the buyout firm is one of a number of parties interested in the agency, which holds the titles for most of England and Wales’s land. Delivering his Autumn Statement last November, chancellor George Osborne said the government would "consult on options to [...]
Osborne created a Budget rod for his own back by abandoning prudence on government spending in the November Autumn Statement March 15, 2016 It's what the great economist Milton Friedman described as “the tyranny of the status quo”. Every Budget week, we hear lots about the so-called “losers” of expected or announced decisions by the chancellor on government spending. Over the weekend, for example, there was a lot of noise about potential further cuts to the welfare bill. Despite [...]
Proposed Basel changes could distort UK mortgage market, warns Council of Mortgage Lenders March 14, 2016 Proposed reforms to financial regulations would have “negative and unintended consequences” for the UK mortgage market, the Council of Mortgage Lenders (CML) has warned today. The CML said proposed reforms to Basel rules, a set of global rules adhered to by countries voluntarily, were "unduly harsh" on prime residential and buy to let mortgages. The reforms [...]