After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Budget 2016: Institute of Fiscal Studies’ Paul Johnson says budget cuts may not materialise March 14, 2016 Chancellor George Osborne has indicated he will announce more cuts in his Budget, but these cuts may never materialise, director of the Institute of Fiscal Studies Paul Johnson has said. Yesterday the chancellor indicated be may have to announce cuts worth up to £4bn by the end of this parliament when he delivers his Budget [...]
FTSE 100 edges up but Admiral share price hit as investors await Budget and interest rate decisions March 14, 2016 The share price of one of the UK's largest insurers was hit in early trading after it emerged over the weekend that the chancellor may drop a tax bombshell on the sector when he delivers his Budget later this week. Admiral Group fell 1.6 per cent to 1,884.5p in early trading, after reports suggested George Osborne will raise the [...]
Bitcoin gets a central bank rival as academics develop cryptocurrency RSCoin, but might pounds and pence need to watch their back as well? March 13, 2016 Currency as we know it might be about to be shaken up, as academics from University College London have published a paper on a cryptocurrency which could be used by central banks. Unlike bitcoin and its contemporaries to date, the framework for RSCoin can be centralised and maintain by a State's central bank. The paper by George Danezis and Sarah Meiklejohn [...]
Bank of England, Federal Reserve and Bank of Japan to err on the side of caution this week March 13, 2016 Three of the world’s major central banks are expected to take a cautious approach this week as they look to underpin economic growth amid rising global uncertainties. The US Federal Reserve’s federal open market committee will decide on Wednesday whether to lift interest rates for the second time since the 2008-9 recession. “Given market volatility [...]
Interim Financial Conduct Authority (FCA) chief executive Tracey McDermott says she is worried British banks will “stop caring” and “begin to turn a blind eye to bad behaviour” March 13, 2016 The interim boss of the City watchdog has warned that it would be "very, very easy" for Britain's biggest banks to stop caring about standards of conduct and behaviour. "It would be very, very easy for change to be reversed," Financial Conduct Authority (FCA) acting chief executive Tracey McDermott said in an interview with the Sunday Times [...]
Remortgaging activity: Homeowners slow to switch from standard variable rate mortgages to fixed rate mortgages March 12, 2016 Homeowners are failing to lock into low repayment rates by switching from a standard variable rate mortgage to a fixed rate mortgage, research by high street bank Halifax has shown. Although housing transactions in 2014 exceeded the one million mark for a second consecutive year, and fixed rates continue to fall below the standard variable rate, remortgaging activity remains subdued, it [...]
The UK is the sport industry capital of the world – its businesses must lead the way with corporate responsibility March 11, 2016 In case you hadn’t noticed, the UK is sport mad. We watch, discuss, engage and play sport with great passion. So it’s not surprising that we are pretty damn good at the business of sport as well. Led by the Barclays Premier League we have an industry worth an estimated £24bn per year. But more [...]
EU referendum: Housebuilders, mid-caps, banks and retail will be the sectors worst-hit by a Brexit, says UBS March 11, 2016 The Brexit debate continues apace – and now UBS Wealth Management has waded in on the argument, pointing out some of the sectors most at risk if the UK votes in favour of leaving the European Union. The good news is fears around Brexit have already been priced into the market, said Caroline Simmons, deputy [...]
Euro rebounds: Mario Draghi warns euro inflation will stay negative for “several months” and European Central Bank cuts deposit rate and expands quantitative easing March 10, 2016 European Central Bank (ECB) chief Mario Draghi has suggested inflation in the Eurozone will stay negative for "several months" – but added that the bank is "not short of ammunition" to bring it back up to target. At a press conference after the bank announced it was slashing key rates, Draghi said he expected inflation to pick up to 0.1 per cent in [...]
Mario Draghi’s big guns: Here’s everything you need to know about the ECB’s TLTRO II programme March 10, 2016 Shares in European banks shot up today after the European Central Bank (ECB) announced a new round of bank lending measures, known as targeted longer-term refinancing operations, or TLTROs to their friends. This is the second round – so naturally it's known as TLTRO II. ECB president Mario Draghi called TLTRO "loans to banks and additional incentives to [...]