After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Prudential Regulation Authority governor Andrew Bailey says preventing another financial crisis is a work “in progress” January 27, 2016 The Bank of England's Andrew Bailey has said that creating a more stable financial system to prevent another financial crisis is still a work "in progress". Speaking at the International Financial Services Forum in Dublin, he said: "The work is still in progress and thus for us very much a matter of debate." Market turmoil since [...]
FTSE 100 index rebounds as oil prices climb and miners rally January 26, 2016 The FTSE 100 index closed up on Tuesday as the price of oil rebounded and mining stocks began to rally. The UK's blue-chip index rose 0.59 per cent to 5,911 points, led by Anglo American and Glencore as the price of oil staggered back over $30 a barrel. "A short-squeeze in crude oil has dragged markets out [...]
New FCA boss Andrew Bailey in quotes January 26, 2016 He is a Bank of England lifer – but Andrew Bailey, incoming FCA chief executive certainly has a way with words. Some of them give an insight into the man who George Osborne believes can lead the watchdog into its new era – others are just plain colourful. And so far he's managed to avoid [...]
Fed expected to hold on interest rates as committee members meet for the first time this year in Washington DC January 26, 2016 The US Federal Reserve is meeting today to decide whether to change the rate of interest from the 0.5 per cent rate it chose at its last meeting in December. The Fed is widely expected to leave rates unchanged when it releases statement at 7pm GMT tomorrow. The Federal Open Market Committee (FOMC) voted unanimously to [...]
EU referendum: Morgan Stanley says June referendum will speed up uncertainty and slowdown in UK growth January 26, 2016 Morgan Stanley is now predicting the in/out vote on Britain's European Union membership will be held within a matter of months – something the bank's economists say would accelerate market uncertainty and spark a slowdown in growth. In a note out this morning, Morgan Stanley economists said they now expect Prime Minister David Cameron will secure a reform deal [...]
Mark Carney: Low oil prices are good for economic growth – in the medium term January 26, 2016 Bank of England governor Mark Carney has said low oil prices are good for economic growth – for now. Appearing before MPs at the Treasury Select Committee, Carney said it was "absolutely not true" that the Bank wanted to encourage higher oil prices, adding that lower prices were "good for growth in the medium term" [...]
The FCA’s new chief executive named as Prudential Regulation Authority’s Andrew Bailey January 26, 2016 George Osborne has named the deputy governor of the Prudential Regulation Authority (PRA) Andrew Bailey as the new chief executive of the FCA. He will succeed interim chief executive Tracey McDermott, who has acted in the role since Martin Wheatley was unceremoniously removed from the post in September. Bailey, who is being appointed for a five year term, will [...]
Iranian banks in talks with regulators over resuming London operations January 25, 2016 Two Iranian banks in London are in talks with UK regulators over resuming operations, according to reports. Melli Bank and Persia International Bank had heavy restrictions placed on them in 2009 when economic sanctions were put on Iran. They are now looking to fulfil Bank of England criteria for financial firms, sources told Reuters. The [...]
Bank of England’s Kristin Forbes: Pay growth is not high enough for an interest rate hike – but probably will be soon January 25, 2016 Wages are not yet growing fast enough to lift inflation, but are likely to accelerate soon, one of the Bank of England's rate-setters will say tomorrow. "Labour costs are not yet at the levels consistent with inflation meeting the two per cent target sustainably in the UK," Kristin Forbes will tell the Henry Jackson Society in Parliament. [...]
UK Statistics Authority blasts market-moving data leak January 22, 2016 Market-moving UK data was leaked to hundreds before its official release on Wednesday, a breach blasted by the country’s statistics watchdog. The UK Statistics Authority wrote that it was “deeply concerned about the impact that breaches (and apparent breaches) relating to the unauthorised, widespread sharing of statistics before their publication may have on the trustworthiness [...]