After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
AIG to sell lease firm to Chinese group at a loss December 10, 2012 AMERICAN International Group will sell nearly all of aircraft leasing business ILFC to a Chinese consortium for up to $4.8bn (£2.9bn), in a deal that gives the fastest growing aviation market easier and cheaper access to planes. But the sale is at a far cheaper price than AIG sought and will lead to a substantial [...]
The poorest will suffer if we ignore the real evidence on payday loans December 10, 2012 THE non-stop tide of new regulation from the government continues. It now appears to be preparing to accept an amendment to the Financial Services Bill, which will allow the Financial Conduct Authority to cap interest rates on payday loans. A recent intervention by the incoming archbishop of Canterbury (who is strongly in favour of the [...]
Who’s switching jobs December 4, 2012 Aon Hewitt The human resources consultancy has appointed Andrew Woolnough as client development director in its flexible benefits team. He was most recently head of flexible benefits at Enrich Reward, and has also held senior roles at Jelf Group. JP Morgan Private Bank The private bank has announced two new appointments to its London-based South [...]
Lawyers warn planned regulations on shadow banks could result in a renewed credit crunch December 2, 2012 INVESTMENT funds and insurers could become a major new source of credit, particularly in the loan-starved European economy – but finance regulators risk choking off the flow of funds with heavy-handed new rules, law firm Allen and Overy warns in a new study published today. The so-called shadow banking sector is made up of financial [...]
New broom Mark Carney has a lot of paperwork to sweep up November 28, 2012 FROM the forthcoming report of the Parliamentary Commission on Banking Standards to a possible resignation letter from Paul Tucker: Mark Carney has an unenviable reading list before he sets foot in Threadneedle Street as the new Governor of the Bank of England. If he wants a genuine cold-towel moment ahead of his arrival, however, he [...]
US firm Affinion drops out of takeover talks for CPP November 28, 2012 US firm Affinion Group last night pulled out of takeover talks with credit card insurer CPP. Affinion, which had revealed it was in preliminary takeover talks at the end of last month, said it had no intention of making an offer. CPP, said it would continue to actively pursue a range of financing options. “We [...]
Comet forecast to leave high street by Xmas November 28, 2012 COMET’S administrators yesterday confirmed they are to close a further 125 stores and may shut the entire business by the end of the year unless a buyer can be found, in a devastating blow for the high street. Deloitte said just 70 stores of the original 236 stores will continue to trade until all of [...]
There are rays of hope in a sluggish City jobs market November 28, 2012 CONSIDERING the current employment climate in the City, and the ruthless job cuts hitting the headlines, you would be forgiven for considering packing your bags and taking an early retirement in the country. A report released by Roland Berger Strategy Consultants last week showed that investment banks are set to lose another 40,000 jobs in [...]
Meet Mark Carney: the Canadian flown in to save the UK economy November 26, 2012 IN APPOINTING Mark Carney the new governor of the Bank of England, the government has found an ex-Goldman Sachs director comfortable with garnering the views of the City – yet unafraid of standing his ground at times of conflict. The Canadian famously clashed with JP Morgan chief Jamie Dimon after a fierce disagreement over the [...]
Firms call for tax breaks for infrastructure November 25, 2012 BUSINESSES want the chancellor to revive plans to inject cash into large road and rail upgrades with tax breaks, a survey out today suggests. Senior tax professionals at some of Britain’s biggest firms put tax incentives for those investing in infrastructure at the top of their wish list for next week’s Autumn Statement. Tax credits [...]