After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Aston Villa finances: Relegation-threatened club reveal £27.3m loss as Randy Lerner and directors share £1.5m March 10, 2016 Aston Villa’s miserable season took another turn for the worse after the Premier League’s basement club announced a £27.3m loss. The Birmingham club – currently nine points from safety – are facing a financially devastating relegation to the Championship following a costly campaign last season. In 2014-15 Villa generated £115.7m in revenue, down from £116.9m last [...]
It’s Waterloo for the global economy – and we’re dangerously lacking reinforcements March 10, 2016 What has 1815 and the Battle of Waterloo got to do with 2016 and the world economy? On 18 June 1815, the Duke of Wellington could feel the battle slipping away, but he also knew the Prussians under General Blucher were coming and that could win the day. Fast forward to 2016 and there is no [...]
EU referendum: Bank of England governor Mark Carney says the City would lose business and banks would leave the Square Mile after Brexit March 8, 2016 The Square Mile would “without question” lose business if Britain votes to leave the European Union without a continuation of cross-country financial sector agreements, Bank of England governor Mark Carney has warned. Speaking to MPs on the Treasury Select Committee earlier today, Carney said he would expect some firms to move operations to the European Union [...]
Negative interest rates come with risks, warns Bank of England’s Martin Weale March 8, 2016 A Bank of England official has warned there are risks of negative side-effects if interest rates are slashed below zero. Negative interest rates are in place in the UK’s biggest export market, the Eurozone, as well as several other countries. But Martin Weale, a member of the Bank of England's nine-strong monetary policy committee, told an audience [...]
Moody’s: RBS, Lloyds, Barclays, Santander, HSBC and Nationwide need to close a £129bn capital shortfall to satisfy new Bank of England requirements March 8, 2016 Britain's biggest banks need to close a £129bn shortfall in capital requirements by the end of the decade if they are going to satisfy new Bank of England rules by the time they go into effect in 2019, according to a new report out today. Moody's said Britain's seven largest banks – Royal Bank of Scotland [...]
More borrowers opt for fixed rate deals as mortgage rates hit record low March 8, 2016 Mortgage rates have dropped to the cheapest on record, according to figures released by the Bank of England this morning. The overall interest rate on new mortgage lending in the final three months of 2015 fell to 2.71 per cent, the lowest since the series began in 2007. The interest lenders are making on the total stock [...]
Here’s what the Bank of England’s Mark Carney thinks of David Cameron’s EU membership settlement March 8, 2016 The Bank of England has been forced to make a controversial foray into the debate on the UK's membership of the EU. Bank governor Mark Carney has written to Andrew Tyrie, chair of the Treasury Select Committee, in response to a request for the Bank's view on David Cameron's renegotiation settlement. Here's what Carney thinks of the [...]
EU referendum: Governor of the Bank of England Mark Carney denies claims that he is making pro-Remain-esque claims about the EU March 8, 2016 Governor of the Bank of England Mark Carney has said that the bank will not be make any formal recommendation on the European Union ahead of the impending referendum. Speaking in front of MPs, Carney said that the bank's report on the EU referendum is not comprehensive, but simply looks at how the EU affects the [...]
Banking Standards Board (BSB) chairman Dame Colette Bowe says rebuilding the trustworthiness of British banking will be a “long haul” March 8, 2016 Building the trustworthiness of the British banking sector will be a “long haul”, a former regulator has warned, as the Banking Standards Board (BSB) publishes its first annual review. The BSB is an independent body set up last year to improve standards of behaviour in the Square Mile and restore the public’s trust in financial [...]
Bank of England to offer extra lending to banks around the time of the EU referendum March 7, 2016 The Bank of England today announced it will offer extra lending to banks in the weeks around the EU referendum to stave off the impact of uncertainty on the financial system. Banks will be offered three additional so-called long-term repo operations. They involve swapping cash for eligible collateral, mostly government debt, which is swapped back at a later date. The [...]