After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Budget 2016: Sir Charlie Bean’s report on national statistics should be published ahead of Osborne’s budget, according to the Treasury Select Committee February 29, 2016 An influential group of MPs have today raised red flags over the government's handling of official national statistics, ahead of the publication of a major review on the subject. Andrew Tyrie, the Conservative MP who chairs the Treasury Select Committee, has written to Sir Charlie Bean calling for a "shake up" of UK national statistics. [...]
Former Bank of England governor Mervyn King says the Eurozone is doomed to fail February 28, 2016 Mervyn King, the former governor of the Bank of England, has warned that the Eurozone is doomed to fail. Bailouts and other measures employed to keep the euro area intact "will lead to not only an economic but a political crisis", according to King's new book, The End of Alchemy, which is being serialised in [...]
MPs on the Treasury Select Committee want to be able to reject chancellor George Osborne’s appointments to the Financial Conduct Authority (FCA) February 26, 2016 An influential parliamentary committee has called for MPs to be able to veto the appointment and dismissal of the chief executive of the City watchdog, among others. The Treasury Select Committee tabled an amendment to the Bank of England and Financial Services Bill today that would allow MPs to reject the hiring and firing of the [...]
Sterling keeps clear of hitting 30-year low February 25, 2016 Sterling held its ground today, managing to steer clear of a 30-year low against the dollar. The pound spiked at $1.3996, a climb of around half a per cent on its value at the start of the day. However, if later fell back to $1.3920. The pound has fallen sharply this week after London Mayor [...]
Challenger banks: Moody’s says smaller lenders are poised to compete with Britain’s big banks for a share of the UK mortgage market February 25, 2016 British challenger banks are poised to compete with larger lenders for a share of the mortgage market, Moody’s Investors Service has said. In a new report out today, Moody’s said challengers are likely to use securitisation to compete for a bigger share of the UK mortgage market. “Increasing competition in the mortgage market driven by [...]
Bank of England’s Sir Jon Cunliffe pours cold water on recession and stagnation fears February 24, 2016 The UK can expect the economy to "grow solidly" and inflation to reach its two per cent target over the next few years, a Bank of England rate setter said today. Sir Jon Cunliffe told an audience at the London South Bank University Centre for International Business Studies: My central projection remains that the UK economy will continue [...]
EU referendum: Why protecting the pound is the jewel in the crown of Cameron’s deal February 24, 2016 Following the Prime Minister’s EU renegotiation, the debate is already raging. Myriad topics, from sovereignty to benefits, are dominating the headlines. But what shouldn’t be lost in the detail – and should be celebrated – is David Cameron’s success in protecting the pound. This, alongside related hard-won measures, has far-reaching and positive consequences for Britain’s [...]
What is helicopter money and could it save the global economy from another recession? February 24, 2016 Inflation is below target in most of the world's major developed economies. With interest rates at record lows and economists still split on the effects of quantitative easing, helicopter money has been touted as a possible weapon in central banks' arsenals. The idea The 18th century philosopher David Hume asked what would happen if some good fairy went around [...]
EU referendum: Prominent “leave” and “remain” campaigners including Boris Johnson, George Osborne and Lord Stuart Rose called before the Treasury Select Committee February 23, 2016 Prominent advocates of both continued membership and withdrawal of the EU have been called to appear before the influential Treasury Select Committee to give evidence. Committee chairman Andrew Tyrie has announced a number of evidence sessions with campaigners and decision-markers in the build up to the EU referendum on 23 June. Focussing on the financial and economic [...]
Mark Carney tells MPs the Bank of England is not prepared to cut interest rates into negative territory…for now February 23, 2016 Bank of England governor Mark Carney has said the Bank does not yet consider negative interest rates to be an appropriate stimulus measure for the UK. He said the Bank would consider lowering rates below the current record low of 0.5 per cent if necessary, but they would be unlikely to go below zero. "One of the things [...]