After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
MoneySupermarket.com chief executive checks out on a high with profits jump August 3, 2016 Profits have leapt at price comparison website MoneySupermarket.com in the first half of the year, but shares dropped at the open as its chief executive announced his intention to step down from the company. The results Profits before tax came in at £47.1m in the first six months of the year for the website, up [...]
City A.M.’s Rio 50: These are the 50 most marketable athletes at the Rio 2016 Olympic Games August 3, 2016 Do you thrill to the Mobot? Or tingle when Jess Ennis-Hill ducks for the line? Perhaps it’s Usain Bolt’s signature To Di World celebration, an Andy Murray fist pump, or gymnastics doyenne Simone Biles cheekily winking during a floor routine that brings out the goose-pimples. Everyone has their favourites: those sportsmen and women who we [...]
City Moves for 3 August 2016 | Who’s switching jobs August 3, 2016 Baker & McKenzie Global law firm Baker & McKenzie has appointed Alex Chadwick as managing partner of the London office. The term is for three years, effective from 1 September 2016. Alex, a tax partner, joined Baker & McKenzie as a trainee in 1990 and made partner in 1999. He currently heads the firm's Tax [...]
Men retiring this year can expect incomes that are a third greater than women August 3, 2016 The gender gap in retirement incomes has widened in 2016 despite women's incomes reaching record highs. Average annual retirement income for men is £19,850 – a third higher than women's – according to research by insurance giant Prudential. The average retirement income of £14,450 for women has grown steadily since the survey began in 2008. Although the gender income gap has almost [...]
City braced for rate cut as construction data and banking woes unsettle markets August 3, 2016 The FTSE 100 fell to a two-week low of 6,645.40 yesterday, spooked by a double whammy of gloomy UK construction data and faltering bank stocks. Official data shows that UK construction has shrunk at its fastest pace in seven years. Markets are now bracing themselves for tomorrow’s Bank of England policy meeting, at which governor Mark [...]
Thomson Reuters is the latest to join this major blockchain consortium August 2, 2016 Thomson Reuters is the latest financial institution to join one of the major consortiums working on blockchain technology, joining several of the world's biggest banks. The global firm is joining R3, the group which is spearheading efforts to standardise blockchain technology and now counts more than 40 members, including Barclays, HSBC and Goldman Sachs. Read more: The UK [...]
Banks’ share prices dip after FCA announces PPI deadline August 2, 2016 UK bank stocks dipped in early trading today, after the City watchdog announced that it was pushing back its deadline for payment protection insurance (PPI) complaints. The Financial Conduct Authority (FCA) said it plans to set a cut-off point for PPI claims that will fall by the end of June 2019 at the latest. Previously, banks had been [...]
Direct Line zooms to top of FTSE 100 after generous special dividend announced and profits beat expectations August 2, 2016 Direct Line Insurance Group raced to the top of the FTSE 100 today, after the insurer announced a generous special dividend and profits zoomed past analyst expectations. The figures Profit before tax for the insurer fell to £298.5m for the first half of 2016, down 5.2 per cent from £315m the year before, after investment returns failed to [...]
Financial watchdog to set deadline for PPI complaints before the end of June 2019 August 2, 2016 The financial regulator today said it was moving forward with proposals for a payment protection insurance (PPI) complaints deadline, as it looks to draw a line under the costliest financial scandal ever to hit the UK's banks. The Financial Conduct Authority (FCA) last year proposed a deadline of spring 2018, however today the watchdog said a deadline [...]
Five things you need to know about the Uber Didi Chuxing deal August 1, 2016 Uber and Didi have thrown in the towel on their costly rivalry with a deal to merge in China, worth a reported $35bn. Here's what you need to know. 1. Profits matter Uber was burning more than $1bn a year on its Chinese operations, becoming its largest market, but not making any profit from it. That's what boss Travis Kalanick [...]