After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
UK economy on track for growth despite global turmoil, EY Item Club forecasts January 17, 2016 Consumer spending will help fuel UK economic growth in 2016, according to new forecasts, painting a more positive picture amid global market turmoil which has wiped trillions from global equities this year. The economy is expected to grow at an accelerated rate of 2.6 per cent in 2016, up from 2.2 per cent last year and previous forecasts [...]
Capturing the City preview: Unseen photography on show at the Bank of England Museum January 14, 2016 Free | Bank of England Museum City workers that have to navigate their way along the labyrinthine corridors off Bank junction to get to the office every morning can be forgiven for rushing past this historical trading site, eager to escape the congested mayhem. Luckily, the Bank of England Museum – an often-overlooked gem – [...]
Bank of England monetary policy committee votes 8-1 to hold interest rates as it cuts economic growth, inflation forecasts January 14, 2016 The Bank of England's rate-setting committee held interest rates at historic lows, while it cut forecasts for economic growth and inflation. The monetary policy committee (MPC) voted 8-1 in favour of keeping the benchmark interest rate at 0.5 per cent, with lone hawk Ian McCafferty staying in favour of a rate rise despite a darkening global [...]
Sterling touches 11-month low ahead of the Bank of England’s interest rate decision January 14, 2016 The pound rebounded from an 11-month low against the euro today, as the Bank of England's rate-setting committee was expected to keep interest rates unchanged when it announces its decision later today. Sterling was trading at 0.76p per euro this morning, while it was at $1.44 against the dollar. On Tuesday it fell to a five-and-a-half year [...]
Judge policies by their results, not intentions January 14, 2016 Sometimes three small words can be very powerful. “Reward for failure” is one such example, a phrase that has come to encapsulate public discontent with the financial crisis and high pay at banks and in business more broadly. The rights and wrongs of high pay can be argued all day (and all night), but no one [...]
City Moves for 14 January 2016 | Who’s switching jobs January 14, 2016 Capital Access Group Investor engagement adviser Capital Access Group has announced that Bruce Packard has joined its investor analytics team. Bruce has 15 years’ experience in the City and has been part of several highly ranked banks’ teams. Having covered the UK banking sector since 2000 at Credit Suisse, ING, Societe Generale, Evolution and Seymour [...]
City A.M. shadow MPC: Global stock market plunge spooks economists who vote to hold rates January 14, 2016 The Bank of England should refrain from hiking interest rates today, City A.M.’s shadow monetary policy committee has said. With less room to cut interest rates should the economy take a downward turn, Anthony Yates, who spent two decades at the Bank, said it would be better to let inflation overshoot than to increase rates now. [...]
Bonus clawback rules: The Bank of England’s Andrew Bailey wants tougher bonus buy-outs January 13, 2016 The Bank of England (BoE) wants banks to be able to claw back their employees' bonuses even after they've moved to a new company. The Bank's Prudential Regulation Authority (PRA) has put forward new rules to tackle the issue surrounding bonus buy-outs, which can help individuals evade a body of regulation designed to stop banker misconduct in the wake [...]
Bank of England’s monetary policy committee: Why rate-setters could surprise on January 2016 risks January 13, 2016 A lot can happen in a month. Since the last monetary policy committee (MPC) meeting, oil prices have fallen to new lows, UK gross domestic product has been revised down and concerns about China have entered another acute phase. Given the dovish MPC has a reputation for caution, how will it deal with the latest curve balls? [...]
Mark Carney says UK recovery is not fuelled by debt January 12, 2016 Bank of England chief Mark Carney has played down fears that the UK's economic recovery has been based on an unsustainable credit boom. Speaking at at farewell symposium for Christian Noyer, the Bank of France's governor, Carney said "this is not a debt-fuelled recovery". He pointed out that private sector debt to GDP had fallen [...]