After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Will Axa’s decision to quit investing in tobacco have a negative impact on the industry? May 24, 2016 Jasper Lawler, a markets analyst at CMC Markets, says Yes. Axa stubbing out its £1.3bn in tobacco investments could have both short and long-term negative consequences for the industry – a physical overhang of shares, and setting a precedent among insurers. In the short term, pouring its holdings onto the market will create a supply of [...]
Vote Leave unveils 30-strong expert group to dismiss Brexit fears May 23, 2016 Brexit campaign group Vote Leave has unveiled a group of 30 business leaders, economists and senior politicians to dismiss figures from the Treasury today, which suggest that the UK could see up to 800,000 job losses if it votes for Brexit. In a joint statement, the group argue that a far greater risk is presented [...]
Before the bell: What you need to know before the US market open May 23, 2016 The latest round of consolidation in the drugs and chemicals industry is on after Germany Bayer made a $62bn bid for US seeds company Monsanto while European PMIs this morning have added to European economist concerns. Here's what you need to know before the open. US pre-market futures are mixed today. The S&P is down by 0.06 per [...]
Brexit could cut sterling by 15 per cent and cost 800k jobs, says Treasury May 23, 2016 A vote to leave the European Union could see the UK's economy hit by a recession, a spike in inflation and a rise in unemployment, according to government figures. While business secretary Sajid Javid earlier warned that 500,000 jobs would be at risk, Treasury figures now estimate that in a "severe shock" scenario, unemployment would rise by around [...]
Axa has said it will sell its tobacco portfolio because of its “tragic” human cost May 23, 2016 Axa, the world's largest insurer, has announced it will stop investing in tobacco on ethical grounds, citing the "tragic" human cost of the industry. The group intends to sell its tobacco portfolio, valued at around €1.8bn (£1.4bn). Axa will also sell all of its equity holdings — worth about almost €200m — in the sector immediately. Incoming chief executive Thomas Buberl acknowledged [...]
City Moves for 23 May 2016 | Who’s switching jobs May 23, 2016 Together Specialist lender Together has appointed Colin Kersley to its retail board. As an independent non-executive director, Colin will also chair the retail audit committee. Colin was previously chief executive officer of M&S Bank (a wholly-owned subsidiary of HSBC) where he worked closely with the independent board to convert the card company to a bank, [...]
No turning back from either Bremain or Brexit for insurers May 22, 2016 There was always a danger that the debate surrounding the EU referendum in June would generate more heat than light. When it comes to the impact on some of the most significant elements of the UK economy – such as the insurance sector – it is vital to identify the issues that will arise for [...]
The Co-op’s having a retro rebrand May 22, 2016 The Co-op is returning to its roots with a retro rebrand in a bid to shake off several scandal hit years. The refresh of its image brings back the blue and white logo first introduced in the 1960s but phased out in the 1980s as it promised to return more than £100m a year back to [...]
EU referendum: Two Britons living abroad lose Court of Appeal battle over right to vote in June May 20, 2016 Two Britons living abroad have lost a Court of Appeal battle over their right to vote in June's EU referendum. The legal challenge, brought by World War Two veteran Harry Shindler and lawyer Jacquelyn MacLennan, was made after the pair lost their application for a judicial review last month. Under the law UK citizens that have lived [...]
Working from home is becoming more common – but London and finance lag behind the average May 20, 2016 If you'd take a lie-in and pyjama-wearing over office politics and a sweaty commute, good news – working from home is becoming more common. New research has suggested it has increased by around a fifth in the last decade. Some 1.52m, or around 5.7 per cent, of workers are now estimated to regularly work from home [...]