After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Dividends and insurance claims to be paid via smartphone app November 18, 2013 INSURANCE claims, dividends and refunds from firms can be paid via smartphone app PingIt, Barclays announced today, in the latest phase of its mobile payments war with other lenders and cross-bank offering Zapp. Previously PingIt has been used for person-to-person payments and customer-to-company transfers, and is on offer to customers of any bank. But now [...]
$1.6 trillion: The shocking amount governments have gained from quantitative easing November 13, 2013 HALF a decade of rock-bottom interest rates and loose monetary policy have delivered an astonishing windfall to governments around the world, dramatic new research released today reveals. By contrast, older savers with significant assets have been hammered, losing out on huge amounts of interest. Younger households, which are net borrowers have benefitted. While contrary to [...]
What the other papers say this morning – 12 November 2013 November 12, 2013 FINANCIAL TIMES Shadow banks reap Fed rate reward Loosely regulated non-bank lenders have emerged as among the biggest beneficiaries of the Federal Reserve’s ultra-low interest rates with three specialist categories increasing their assets by almost 60 per cent since the height of the financial crisis. Such lenders, widely considered part of the “shadow banking” system, [...]
Credit card insurer CPP whacked with a further bill for mis-selling October 30, 2013 TROUBLED credit card insurer CPP yesterday said its mis-selling bill has risen by a further £1.8m and confirmed that the performance of its core UK business is continuing to deteriorate. Shares in the York-based business, which has now set aside a total of £55.8m to cover its mis-selling scandal, closed down 10.3 per cent. CPP has already admitted [...]
Microfinance can drive growth but hurdles remain October 30, 2013 SOCIAL enterprises in the Islamic world are playing an important role in driving improvements in living standards – particularly for hitherto marginalised groups. Jita, for instance, a Bangladeshi social enterprise, provides a sustainable source of income for over 4,000 women in rural villages. Supplied by 150 local distribution hubs, these “Avon ladies of Bangladesh” go [...]
We need more competition – not a full frontal assault on the pensions industry October 30, 2013 BARELY a day goes by without a government attack on the private sector. Yesterday saw the publication of a report proposing charge capping for pension funds. Management fees levied by pension providers could be capped at between 0.75 per cent and 1 per cent. This was not delivered with measured language, but as part of [...]
Russia’s Tinkov sees London listing of TCS price at top end October 22, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit firm TCS priced its London listing at the top of a target range yesterday, with shares gaining five per cent on debut as investors bet on its ability to capitalise on households’ growing appetite for debt. TCS Holding Group, owner of Tinkoff Credit Systems, has challenged state-controlled banks and [...]
Alternative finance could liberate UK SMEs if regulators lift the speed limit October 21, 2013 THE ARGUMENT about banks and the adequacy (or not) of their lending to small businesses has raged on for about four years. It is a length of time comparable with the duration of the First World War, and this is a depressingly appropriate comparison. For all the thousands of rhetorical shells fired by both sides [...]
Banks’ PPI crisis eases at last as complaints fall October 16, 2013 THE WORST of the payments protection insurance (PPI) crisis appears to be over for Britain’s banks as the City watchdog yesterday published numbers showing a fall in complaints. A total of 2.9m complaints were made in the first six months of 2013, according to the Financial Conduct Authority (FCA), down 500,000 on the previous six-month [...]
Financial services complaints fall by 500,000 in six months as Barclays receives over 370,000 October 16, 2013 Consumer complaints to the financial conduct authority (FCA) have dropped by 500,000 between the second half of 2012 and the first half of 2013. Ian McConnell, financial services partner at PwC, says that the fall is "encouraging" and shows "that the issues faced by the financial services industry are being dealt with." McConnell says the [...]