After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
The national living wage is a ticking time bomb of hidden costs for British businesses April 1, 2016 The national living wage is expected to hit British businesses with hundreds of millions in hidden costs this year, in addition to the £804m already estimated – hindering investment and creating a time bomb that will blast through bottom lines by 2020. Figures from the government’s regulatory watchdog show employers may find themselves dealing with the [...]
Anbang walks away from Starwood Hotels deal due to “market considerations” pushing hospitality group’s share price down in after hours trading March 31, 2016 China's Anbang Insurance is walking away from its proposed $14bn (£9.7bn) takeover of Starwood Hotels & Resorts, citing "market considerations". "We were attracted to the opportunity presented by Starwood because of its high-quality, leading global hotel brands, which met many of our acquisition criteria, including the ability to generate consistent, long-term returns over time," Anbang said in [...]
The mortgage market is helping to fuel a new credit boom March 31, 2016 Lending in the UK is recovering strongly. The annual growth rate of total lending hit 4.8 per cent in February, according to figures released by the Bank of England this morning. It is the highest growth rate since 2009 when lending was plummeting. Here's what is helping to drive it: Mortgage lending Borrowing is bouncing back in [...]
GE Capital and AIG jump on too small to be too big to fail bandwagon after MetLife win March 31, 2016 GE Capital has petitioned the US regulator to remove it from the list of financial institutions that are deemed too big to fail following a judge ruling in MetLife's favour yesterday. GE claims that reducing its balance sheet by half and scaling back its links to other firms mean it should no longer qualify for the tag [...]
Former Prudential boss Tidjane Thiam earned £1m a month last year before jumping ship to Credit Suisse March 31, 2016 Former Prudential boss Tidjane Thiam took home £5m in 2015, despite only being in the job until the end of May before taking the helm at Credit Suisse. The majority of the pay packet came from £3.7m from a long-term incentive scheme, according to the British insurer’s annual report. This basic salary for the first five months [...]
Has Labour’s business Eagle landed? Shadow business secretary talks about boosting UK’s productivity March 31, 2016 Angela Eagle, shadow secretary of state for business,innovation and skills, is in a bullish mood, declaring she is always willing to listen to business and that the financial services industry is key to the UK’s growth. She also believes she has a recipe that will tackle the UK’s productivity problem: investment in skills, training and business. [...]
Here’s the UK’s “crash for cash” insurance fraud capital March 31, 2016 It may be a central part of the Midlands engine, but Birmingham also tops a different kind of motor-centric list. Birmingham has today been named the UK's crash for cash capital, with one out of every four fraudulent claims occurring in this city. The research by insurance company Aviva discovered that crash for cash incidences, in which fraudsters [...]
Chesnara year ended December 2015 profits bolstered by Dutch deal March 31, 2016 Chesnara today announced a boost to its profits for its year ended December 2015, thanks partly to its recent acquisition of a Dutch closed book insurance company. Chesnara, which specialises in takeovers in the pensions and insurance sector, revealed that its profits before tax had increased to £42.8m, up from £28.8m the year before. The company completed its purchase [...]
Royal London boasts record breaking year March 31, 2016 Pensions and investments group Royal London has reported strong full year growth, thanks to record-breaking performance and cost savings. The figures New business in Royal London's life and pensions arm was up 40 per cent to £6.7bn, as the financial firm also improved operating margins by two per cent to 43 per cent, achieved as operating [...]
Earning a crust: With Centrica, Rolls Royce, BHP Billiton and others cutting their dividend, where should investors look for income? March 31, 2016 As central banks have pushed down interest rates, income has become ever harder to find. While returns on cash savings have remained low, dividend-yielding stocks have looked like a source of stability. But now, trouble in the global economy is forcing reliable dividend payers such as Centrica and Rolls Royce to slash their payouts. Companies [...]