After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Scottish independence: How a Yes vote would “markedly lower” GDP growth September 10, 2014 With the polls tightening and the possibility of a break-up of the United Kingdom looking ever more credible, politicians and investors are weighing up the possible consequences of a Yes vote. Axa Investment Managers has released a research note examining the economic aftermath for the remaining part of the UK in the event of a [...]
How do Islamic bonds work without interest? By generating profit September 9, 2014 Goldman Sachs announced last week that it is planning to issue its first Islamic bond, and has already set the ball rolling by meeting potential backers in Qatar and the United Arab Emirates. With a wealth of potential investors to tap into in the Middle East, it is no surprise that Goldman has taken [...]
Standard Life share price rockets on £2.2bn deal with Manulife September 4, 2014 Standard Life received a bullish response yesterday from markets and analysts to the sale of its Canadian business for C$4bn (£2.2bn), as shares sky-rocketed and analysts upgraded forecasts after the mega deal. Shares in the huge FTSE 100 listed insurance and investment firm surged by nearly 11 per cent in early trading, before finishing [...]
PPI claims to be reassessed by banks: 2.5 million cases may not have been handled fairly August 29, 2014 PPI has reared its ugly head again as the financial conduct authority ordered more than 2.5 million claims to be re-examined to ensure compensation was "fairly made". The financial regulator said banks, credit card providers and personal loan companies have agreed to reassess complaints about mis-sold payment protection insurance made in 2012 and 2013. An [...]
Asset price distortion: Central banks’ new philosophy comes with old risks August 26, 2014 PRIOR to the financial crisis, life was relatively straightforward for central bankers. They favoured opacity over their future actions, using the theoretical argument that transparency was a threat to credibility. And they refused to control asset prices for a number of reasons – the most compelling of which was the threat of moral hazard. Yet [...]
Phoenix rises and sets sights on £100bn of UK acquisition opportunities August 21, 2014 Insurer Phoenix is understood to be looking at £100bn worth of potential acquisition opportunities in the UK, following a promising set of half-year results announced yesterday. The group is also seeking an investment-grade credit rating that it expects will reduce the cost of its debt by around 50 basis points and give it access [...]
City Moves for 20 August 2014 | Who’s switching jobs August 19, 2014 BDO The accountancy and business advisory firm has announced two appointments to its forensic accounting team. Gavin Williamson joins as a partner from Deloitte, where he specialised in complex, multi-jurisdictional fraud and corruption investigations. Cathie Cameron (pictured) joins as a director. She previously ran her own consulting business in the US, and has also held [...]
James Crosby-backed Moneybarn sold in £120m deal to Provident Financial August 14, 2014 Doorstep lender Provident Financial yesterday raised £120m to snap up Moneybarn, the motor insurer chaired by ex-Halifax Bank of Scotland (HBOS) boss James Crosby. The lender, which makes loans to people with poor credit scores, generated the cash in a matter of hours after mandating JP Morgan to raise the fund. Existing shareholder Invesco bought [...]
Mark Wilson has put Aviva back in the game – Bottom Line August 8, 2014 When I think of Norwich, three things come to mind – Norwich City, Norwich Union and Alan Partridge. You’ll be relieved to hear that I’m going to spare you any terrible puns based on the latter, but I will dare to make an albeit clumsy connection between the first two. Aviva, as it is now [...]
Bank of England’s regulatory tweaks to be norm says Haldane August 5, 2014 THE WORLD faces more business cycles in financial services, not fewer, meaning the Bank of England could have to become more involved in the market, its new chief economist Andy Haldane warned yesterday. As banks have shrunk, much of their work has moved to pension funds, insurers and mutual funds, which Haldane believes may mean more and [...]