After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
From Google’s tax row and the Black Cabs vs Uber to Storm Imogen and the bank bloodbath: Here’s what got us talking this week February 12, 2016 We saw what London would look like if all the skyscrapers being considered got built. A Shoreditch development is bringing history to centre Stage. And we learned how much the Night Tube delay has hurt house prices in central London. Here's what got us talking this week The banking sector is facing its toughest period since [...]
What a week: Over $1 trillion wiped off global stock markets including the FTSE 100 and Dow Jones since Monday February 12, 2016 Trading floors throughout the world were overwhelmed by fear yesterday, as investors pulled cash out of risky assets and sent stock markets plunging further into the red. Around $1.2 trillion has been wiped off the value of global equities since the start of the week, with banks bearing the brunt of widespread concern that another [...]
Global turmoil? Four things the Bank of England could still do if we were plunged back into a financial crisis February 11, 2016 UK stocks have hit a three-year low, the economy has lost steam, and concerns are growing that, should things go pear-shaped, interest rates are so low the Bank of England has run out of ammunition. Whatever your view on whether we're about to be plunged back into the misery of a full blown financial crisis, here's [...]
EU referendum: Senior Conservative MP presses chancellor George Osborne to “clear up important questions” around the draft EU negotiation proposals February 11, 2016 Ahead of next week's European Council summit a senior Conservative MP has pressed chancellor George Osborne to "clear up important questions" arising from elements of the draft reform proposals. "There is a lot at stake in these negotiations. They could offer gains for the UK, but a lot of important and detailed questions need to be answered [...]
UK government borrowing costs hit record low as markets start to price in stronger chance of interest rate cut February 11, 2016 UK government borrowing costs have fallen to record lows as investors ditch risky stocks and flock to the safety of the bond market. The interest on a 10-year UK government bond dropped to 1.275 per cent today. It was just shy of two per cent at the turn of the year and nearly a full [...]
Lowest arrears rate for more than a decade as homeowners reap rewards of low interest rates and record employment February 11, 2016 The number of homeowners behind on their mortgage payments has fallen to its lowest for over 10 years. Fewer than one in 1,000 mortgages ended in repossession last year, according to figures released this morning by the Council for Mortgage Lenders (CML). The annual arrears rate for 2015 was 0.92 per cent, meaning fewer than one [...]
Economists: Prudential moves are likely to delay Bank of England interest rate hikes February 11, 2016 The Bank of England’s decision to raise interest rates is likely to be delayed by actions undertaken by the relatively new committee that focuses on financial stability. The financial policy committee (FPC) can impose restrictions on particular markets such as residential or commercial property markets, and can also make banks hold more capital. The monetary policy [...]
UK wealth inequality is widening as climbing house prices due to quantitative easing drive home ownership down – Standard & Poor’s February 10, 2016 While quantitative easing (QE) may have helped to stabilise the UK economy, it has also led to a wider gulf between rich and poor, according to Standard & Poor's (S&P) – and it has also pushed home ownership even farther out of reach for younger people. QE has exacerbated wealth disparity by boosting financial asset and [...]
Bank of England’s Andrew Hauser defends financial crisis safety net on the 150th anniversary of the Overend and Gurney panic February 10, 2016 A Bank of England official has defended the safety net it used in response to the financial crisis. Andrew Hauser, executive director of banking, payments and financial resilience, said the Bank’s lender-of-last-resort (LOLR) operations during the 2007 and 2008 financial crises “helped prevent global economic and financial meltdown.” The Bank first lent cash to Northern Rock in [...]
UK exit from the EU would damage our insurance market, says Lloyd’s of London February 10, 2016 A Brexit would damage London’s £30bn insurance market, Lloyd’s of London has claimed. Sean McGovern, chief risk officer and general counsel at Lloyd’s, said today that “exiting the EU will create a level of uncertainty, for Lloyd’s, for the London market, as well as the UK and European economies, we have rarely experienced”. London’s insurance [...]