After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Euro 2016 Russia Preview: Injuries may have scuppered Russian chances, but Tottenham’s Eric Dier will still need to be on his guard for England June 9, 2016 Having avoided any real title contenders in this year’s group stage draw — although the offering of relative minnows in the group stage hasn’t always been gobbled up The Three Lions — England’s opener against Russia is Group B’s heavyweight clash. Just don’t expect a blockbuster appearance from England’s opponents. Coach Leonid Slutsky took charge [...]
Losing the EU financial services “passport” would be a disaster for the UK economy June 9, 2016 I read with real concern that the Leave campaign does not think that the “passporting” afforded by the EU is worth much to the City. “Such rubbish,” Vote Leave campaigner Andrea Leadsom called it recently. Her statement shows a tragic lack of understanding of what modern financial services need. Thanks to the EU, a UK [...]
Londoners are now spending 70 per cent of their income on rent and bills June 8, 2016 Londoners are now shelling out a staggering 70 per cent of average income on their rent and essential bills, new data shows. Analysis from Portico London estate agents shows that for three and a half days of a Londoner's working week earns them enough to pay for rent, as well as taxes, housing costs and [...]
Corporate debt gets even cheaper as ECB launches next phase of quantitative easing June 8, 2016 The cost of borrowing for big companies in the Eurozone nudged down today as the European Central Bank (ECB) launched its corporate bond-buying programme. From today, investment grade non-financial corporate debt is eligible to be included in the ECB’s €80bn (£63bn) a month quantitative easing package. Analysts suggest the Bank will try to buy between [...]
Dominic Chappell faces MPs’ questions on BHS collapse as retailer’s management appear at BIS select committee hearing June 8, 2016 Former BHS owner Dominic Chappell, the majority shareholder of Retail Acquisitions, which bought BHS for £1 last year from Sir Philip Green, is giving evidence on the retailer's collapse this morning. The business, innovation and skills (BIS) select committee has already heard explosive evidence about the sale of BHS to Retail Acquisitions and its subsequent demise – with [...]
The rental market is starting to cool off a bit June 8, 2016 The rental market cooled slightly over the past few months as the rate of increase in prices slowed – although rents still rose in the three months to May 2016. Rents agreed on new tenancies in the UK over the past three months were up 4.4 per cent compared to the same period last year, [...]
Sadiq Khan won’t improve life for London’s renters by wrapping buy-to-let landlords in red tape June 8, 2016 A “referendum on housing.” That was how Sadiq Khan described the London mayoral contest. Access to housing that Londoners can afford is certainly critical to the future success of the capital, and at the heart of the mayor’s plans are substantial reforms to private rented property. As the voice of private landlords, we welcome debate about [...]
There are now nearly one million millionaire households in the UK June 7, 2016 The UK is close to having one million millionaire households, new research out today shows. In 2015, there were 961,000 UK households with $1m (£0.7m) of private financial wealth, up 12.4 per cent on 2014, according to the Boston Consulting Group (BCG). The UK’s millionaire growth is nearly double the global year-on-year rate of increase, [...]
Price conscious, sceptical and socially responsible: Wealth managers face millennial challenge June 7, 2016 Wealth managers should target the growing number of millennial investors, a new report has advised. Millennials, defined as those born between 1980 and 2000, currently account for 10 per cent of global private wealth, according to the Boston Consulting Group. This proportion is forecast to increase to 16 per cent by 2020. Read more: The City’s philanthropic heritage [...]
The CMA’s retail banking recommendations have been slammed by experts addressing parliament’s Treasury Select Committee June 7, 2016 The Competition and Markets Authority's (CMA) work on the retail banking market is a failed opportunity, MPs have been told. One challenger bank boss said that the concentration risk in the market will take “decades” to unwind, speaking at a Treasury Select Committee hearing earlier today. Meanwhile, a former Competition Commission member said that the provisional recommendations issued [...]