After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Court told: Failure to spot fixing is like missing nudists on a beach June 15, 2016 The possibility that Barclays bosses did not notice the manipulation of Libor submissions is the equivalent of them failing to spot nudists on a beach, a lawyer said yesterday. Adrian Darbishire, a lawyer for ex-trader Ryan Reich, said in his closing arguments that it was more likely executives didn’t think anything was wrong with what was going [...]
The City of London will prosper in or out of the European Union June 15, 2016 A friend tells me why he is voting Remain. “My wife works for a French bank and they would pull out of London if we left the EU.” That’s fair enough. Assuming the French bank set up in London to access the EU, then it’s logical to assume it would leave after Brexit. But a [...]
It’s time to bring retirement into the twenty-first century June 14, 2016 Few words can stop a conversation as quickly as “retirement”. Many of us can hardly bear to think about it, never mind talk about it. Others – just under half, according to our latest Investor Pulse survey – do save for old age, but with no confidence we’ll get the income we want at the [...]
Scottish Widows reveals £630m bulk annuity buy-in deal with the ICI Pension Fund June 14, 2016 Scottish Widows announced today that it has secured a £630m buy-in with the ICI Pension Fund. The buy-in, which is essentially an insurance policy deal for pension benefits and will cover over 4,000 of the fund’s pensioner members, is Scottish Widows' largest external bulk annuity transaction to date. "We are delighted to have been chosen by the trustee of the [...]
Total deficit on pension schemes eligible to board the pensions lifeboat grew by more than £20bn in a month June 14, 2016 It could be a tight squeeze to board the pensions lifeboat, as figures released today revealed that the total deficit value of the schemes eligible to join increased by more than £20bn in a month. The latest PPF 7800 Index figures, which keep track of the funding position of the defined benefit (DB) pension schemes eligible for [...]
Who in the City should actually be worried about Brexit? June 14, 2016 Without question, the UK’s financial services have been one of its strongest performing industries over the last 40 years. The sector accounts for 12 per cent of income tax receipts, a net trade surplus of three per cent and provides 1.4 million jobs to boot. What’s more, the UK boasts the highest foreign direct investment (FDI) [...]
Fintech boom means Brexit won’t hurt exports June 14, 2016 Exporting can be a powerful driver of business growth, and small and medium-sized enterprises that sell overseas often find themselves more successful in their domestic market as a result of what they learn from exporting. So, I was disheartened to see at a recent seminar hosted by the Association of Chartered Certified Accountants, that only around 20 per [...]
Metlife: This is how much direct and indirect tax the average Brit pays per hour June 14, 2016 Brits could be forking out a lot more in taxes than they realise. Employees are paying an average £1.25 an hour in direct and indirect tax, according to a new analysis by life insurance firm MetLife. Read more: It’s Tax Freedom Day – it may be the latest it’s been since 2001 but you’re finally earning for yourself And [...]
Euro 2016: Where to watch the UEFA European Championships in London with a touch of glamour June 13, 2016 Many football fans are content with heading to their nearest boozer to watch the latest Euro 2016 action, but some City folk might want a venue that’s a bit more flash. Whether you're a City fund manager or a Canary Wharf banker, be sure to watch the beautiful game with a touch of glamour. Steam & Rye Minutes [...]
Chinese Uber rival Didi Chuxing raises another $600m – one month after it got $1bn from Apple June 13, 2016 Chinese Uber rival Didi Chuxing has just unveiled another $600m (£423m) round of funding – exactly one month after Apple ploughed $1bn into it. China Life made an equity investment of $300m and a long-term debt investment of two billion yuan, about $305m. Didi Chuxing said the two companies had committed to a partnership on internet-powered financial innovation and other initiatives – [...]