After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
MPs turn up the heat on FRC over KPMG enquiry February 3, 2016 Influential MP and chairman of the Treasury select committee (TSC) Andrew Tyrie has increased the pressure on the accountancy watchdog over its supervision of big four auditor KPMG’s role in the collapse of HBOS. Last month the Financial Reporting Council said it would look into whether to open an investigation against KPMG, having previously decided not [...]
BP’s chief economist Spencer Dale: Oil price volatility could be consigned to history February 3, 2016 BP’s chief economist, Spencer Dale, has said that the violent price swings which have historically riled oil markets could become a thing of the past. Dale believes the newer, nimbler US shale gas industry will change how oil markets behave over the next 20 to 30 years. "What we know from history is that the oil market takes an [...]
EU referendum: Cameron’s EU deal just doesn’t go far enough – and Donald Tusk’s letter is little more than a press release February 3, 2016 Yesterday, we warned that David Cameron’s EU renegotiation was at risk of ignoring vital questions about the future of the UK’s financial services. A focus on immigration and benefits has overshadowed the hugely vital issue of how the rest of Europe views financial regulation and what implications this has for dominance of the City. It [...]
Niesr: UK economy to gain momentum as inflation stays low and interest rate rises are delayed by EU referendum February 3, 2016 The UK economy should pick up steam this year, with low inflation and a delay in interest rate hikes to create conditions for faster growth, a think tank has said today. The economy should grow 2.3 per cent this year, up from 2.2 per cent in 2015, according to forecasts published today by the National Institute [...]
Branden Grace ready to challenge for Majors as golf’s top three show next generation the way February 1, 2016 It must be so inspiring for young players nowadays to see that the top three in men’s golf – Jordan Spieth, Jason Day and Rory McIlroy – are all still in their 20s. The game is not being dominated by an old guard, by the likes of Tiger Woods and Phil Mickelson; Spieth, Day and [...]
Government introduces new tax to fund crackdown on loan sharks February 1, 2016 The government is today proposing a new tax to crack down on illegal money lending. The Treasury tabled an amendment to the Bank of England and Financial Services Bill this afternoon that will give the Financial Conduct Authority (FCA) to introduce a new tax on consumer credit firms, including credit card issuers, credit brokers, payday lenders, peer-to-peer lenders, and debt management and [...]
UK house prices: Mortgage lending rose unexpectedly in December February 1, 2016 The rush to sneak that house purchase in before interest rates rise continues apace: figures published by the Bank of England this morning showed mortgage lending jumped unexpectedly in December, beating analysts' expectations. Mortgage lending for house purchases rose to 70,837 in December, up from 70,424 in November. That was against analysts' expectations of a modest fall, [...]
ICAEW: Weak business optimism is a bad sign for chancellor George Osborne February 1, 2016 Business confidence has dropped to a three-year low, signalling lower growth and posing a threat to chancellor George Osborne’s budget targets. The Institute of Chartered Accountants in England and Wales’ (ICAEW) confidence index dipped to a score of 11.4 for the start of 2016 – the lowest since early 2013. Lower economic growth can impact [...]
US Fed leaves interest rate on hold amid global market volatility January 27, 2016 The US Federal Reserve has voted to keep interest rates on hold at 0.5 per cent, following the first rate rise for almost a decade in December. All but one member voted to leave the benchmark rate that banks offer to lend to each other overnight, known as the Federal Funds rate, between 0.25 per cent [...]
EU referendum: Brexit could cause a total loss to UK GDP of two to seven per cent, says AXA economist January 27, 2016 If Britain votes to leave the European Union the loss to the UK's gross domestic product would lie between two and seven per cent, according to a top AXA economist. Senior economist at AXA Investment Managers David Page said that AXA's own assessments of Brexit are more skewed to a "pessimistic outlook", and as such [...]