After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
PERSONAL FINANCE NEWS January 6, 2011 RATE WAR ON £7,500 LOANS The average interest rate charged on unsecured personal loans of £7,500 has dropped to 7.89 per cent, the lowest level since November 2008, according to a survey by moneysupermarket.com. The fall in rates is thanks to a price war between providers. Tim Moss, head of loans and debts at moneysupermarket.com, [...]
AXA fund raises €350m to finance property loans January 4, 2011 REAL estate asset manager Axa Real Estate has raised €350m (£300m) in the first close of its commercial property debt fund to take advantage of the shortage of bank loans to the sector. The firm is targeting a final level of €1bn for the fund, to add to €1.15bn in existing commitments it has gained [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
Moody’s may cut Portugal’s rating further December 21, 2010 CREDIT rating agency Moody’s Investor Service has warned that debt-ridden Portugal’s A1 rating may be the next to be downgraded by one or two notches after a review that will take up to three months. The agency attributed the change to the EU state’s weak growth prospects and high borrowing costs – but said its [...]
Bundesbank: CDS did not cause crisis December 20, 2010 GERMANY’S central bank said yesterday that speculative trading in sovereign credit default swaps (CDS) was not to blame for the Eurozone debt crisis. In its December report, the Bundesbank said that a spike in the cost of insuring sovereign debt using CDS was not down to excessive speculation by traders. Instead, movements in CDS prices for [...]
City warns over rights issue rip off December 13, 2010 INVESTMENT banks have been slammed by the City’s top institutional investors for charging unfairly high fees to companies raising capital through rights issues. An inquiry commissioned by the Institutional Investor Council, backed by the Association of British Insurers and the National Association of Pension Funds, lashes out at investment banks today for charging underwriting fees [...]
HEDGIES FORK OUT FOR CHARITY AS LORD ARCHER HOSTS THE AUCTION December 13, 2010 HEDGE fund philanthropists had one of their biggest galas of the year this past weekend, thanks to a fundraiser by Hedge Fund Care, a fund chaired by Robert Mirsky that makes grants to charities fighting child abuse and neglect. 400 or so of the industry’s finest donned their finest blacktie and arrived for a three-course [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 9, 2010 FINANCIAL TIMES BP DELAYS LIBYA DEEP WATER PLAN BP has delayed its plans to explore in the deep water off the coast of Libya until next year after deciding not to use its original drilling rig “for operational reasons”. The UK oil group said that it was still in the process of ensuring any safety [...]
Official: CDS didn’t cause Greek tragedy December 7, 2010 AN EU investigation revealed yesterday that trading in sovereign credit default swaps did not cause a spike in borrowing costs for states such as Greece this year. The report, commissioned by EU finance ministers in March, found “no conclusive evidence” that developments in the CDS market affected the cost of state borrowing. It praised the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 5, 2010 FINANCIAL TIMES IRISH BANKS FACE LOANS SELL OFF Ireland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will [...]