After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Applications open: You can submit your CV to replace Andrew Bailey as deputy governor at the Bank of England February 17, 2016 The Bank of England is officially looking for Mark Carney's new right-hand man (or woman) – and anyone can apply. That's right. There is now a public listing on the Cabinet Office website looking for the next deputy governor for prudential regulation. Applicants can submit a CV and a covering letter to the Treasury making their case for [...]
Oar inspiring: Treasury advisor Phelan Hill on why he has put his day job on hold in pursuit of Olympic dream February 16, 2016 A seventy-hour working week, global financial meltdown and an incessantly vibrating Blackberry are not the ideal precursors to Olympic success, memories of which have prompted Great Britain coxswain Phelan Hill to clear his Whitehall desk. During the thick of his preparations for the London 2012 Olympic Games, Hill combined his role as a senior policy [...]
ONS consumer price index: Motor fuel helps send UK inflation up by 0.3 per cent in January February 16, 2016 Petrol prices helped Britain's annual inflation rate inch up to a 12-month high in January, figures released by the Office for National Statistics (ONS) today showed. The consumer price index (CPI) rose 0.3 per cent in the year to January, up from 0.2 per cent in December, and in line with economists' expectations. This means prices rose 7.9 per cent [...]
Banking experts hit back at claims from Sir John Vickers that the Bank of England is not forcing lenders to hold enough money in capital buffers February 15, 2016 Banking experts have questioned Sir John Vickers’s claims that the Bank of England is not doing enough to shore up the British banking industry, saying more capital requirements for lenders would hurt the real economy. Vickers, who led the Independent Commission on Banking (ICB), told the BBC this morning that the Bank “might want to [...]
Bank of England not out of ammunition, says Ian McCafferty February 15, 2016 The Bank of England could cut interest rates into negative territory or resume its bond-buying programme if the economy were to slow, one of its officials has said. “I certainly don’t believe we are out of ammunition,” rate-setter Ian McCafferty told the Wall Street Journal today. McCafferty voted to keep interest rates at 0.5 per cent this [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]
Audit watchdog’s new powers signal shift February 15, 2016 The Financial Reporting Council (FRC) is still dealing with the fallout from the financial crisis. The accountancy regulator has attracted criticism recently for its decision not to investigate KPMG over its role in the collapse of banking giant HBOS in 2008. Chief executive Stephen Haddrill is in the middle of drafting a response to the chairman [...]
Fraud damages our competitiveness: There must be no darkened corners in the City February 15, 2016 "Fraud shames our financial system” said the home secretary Theresa May last week, as she launched the Joint Fraud Taskforce, which aims to clamp down on the volume of fraud we face. I was very glad to host the launch at Mansion House, because our government, regulators and law enforcers should know that they have [...]
What are your chances of a payrise? Pay growth expectations fall to their lowest point for more than two years thanks to rocketing costs of employing staff, including minimum wage rises February 15, 2016 Businesses believe wages will rise at the lowest rate for more than two years as rising costs of employing staff place pressure on pay packets, according to a report out today. The study by the Chartered Institute of Personnel and Development (CIPD) discovered that companies expect pay for their employees to rise by an average [...]
Sir John Vickers warns Bank of England “too big to fail” bank buffers are not enough February 14, 2016 New requirements for banks to hold enough capital to prevent them from going under in the event of another financial crisis have been questioned by Sir John Vickers. In a stark warning Vickers, the author of 2011's Independent Commission on Banking (ICB) report in the wake of the financial crisis and subsequent bailouts, has called the wisdom of the BoE's [...]