After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
A £2bn tax cut shouldn’t be sniffed at December 6, 2011 CREDIT where credit is due. We are always quick to criticise the fiddly micro-measures so beloved by the Treasury, mere baby steps that do nothing to boost the competitiveness of UK Plc. But when it comes to corporation tax, the coalition has made great strides. By 2015-16, the exchequer will collect some £2bn less in [...]
DRAFT FINANCE BILL: KEY POINTS December 6, 2011 ● R&D TAX CREDIT: HM Treasury has introduced a “patent box” – a reduced corporate tax rate of 10 per cent for earnings from patented products, which is aimed at encouraging innovation in science and tech. ● NON-DOMS: Non-doms will get tax relief on cash they bring into the country to invest in UK companies, [...]
Deutsche wins broking tie-up with Barclays December 6, 2011 BARCLAYS has ditched JP Morgan Cazenove as one of its broking advisers, replacing it with Deutsche Bank. Deutsche, which has been building up its UK broking business in recent months, has a strong financials team that is already advising Phoenix, the life assurance group, and Bank of Ireland. The German bank has also picked up a [...]
Banks fuel FTSE gains as investors eye US jobs data December 2, 2011 Banks helped lift the FTSE 100 this morning as a concerted effort by central banks to trigger easier credit among lenders continued to bolster investor sentiment. Despite grim manufacturing data from across the globe yesterday — and a bleak outlook given by Bank of England Governor Mervyn King — markets overall have responded positively to [...]
City A.M.’s at-a-glance guide to the key points of Osborne’s mini-Budget November 29, 2011 UK ECONOMIC OUTLOOK • The Office for Budget Responsibility (OBR) has slashed the growth forecasts it made in March. • Its central forecast for 2011 has been revised down to 0.9 per cent from the 1.7 per cent March prediction. It expects 0.7 per cent year-on-year GDP growth in 2012, instead of 2.5 per cent. [...]
FTSE down as storm clouds surround Osborne November 29, 2011 The FTSE opened down as stuttering UK growth cast a shadow over chancellor George Osborne’s Autumn statement on the economy to be delivered later today. Grim forecasts on growth from the OECD yesterday painted a bleak picture as the UK struggles to get its economic recovery into gear. The government has already indicated that billions [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 28, 2011 FINANCIAL TIMES LLOYDS SET TO EASE PRESSURE ON CHIEF Lloyds Banking Group is exploring ways to reduce the workload on António Horta-Osório, its chief executive, as it attempts to convince investors he will be able to make a successful comeback from a period of medical leave. The state-backed bank is considering fortifying the support around [...]
Lehman Europe claims $1.4bn November 28, 2011 The European arm of Lehman Brothers yesterday sued a unit of bond insurer Assured Guaranty, claiming more than $1bn for a series of credit derivative transactions. In a lawsuit filed in the US, Lehman Brothers International (Europe) said the unit, AG Financial Products, miscalculated termination payments under the deals, using an incorrect and approach to [...]
Credit Suisse: banks to get liquidity aid November 28, 2011 THE BANK of England will need to restart and extend its liquidity support schemes for the UK’s biggest domestic banks as they face a wall of £76bn in maturing debt next year, according to research by Credit Suisse. Analysts led by Carla Antunes da Silva suggest that the UK’s “relatively safe haven status” could prompt [...]
Greenberg firm sues government November 21, 2011 A company run by former American International Group (AIG) chief executive Maurice “Hank” Greenberg is suing the US government for $25bn (£16bn), calling the 2008 federal takeover of the insurer unconstitutional. The lawsuit marks an unusual effort to force the government to pay shareholders, who have seen AIG’s stock price tumble 98 per cent since [...]