After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Topps Tiles stacks up sales growth as buyers opt for home improvements July 6, 2016 Topps Tiles' chief executive said today that it was too early to know what the effects of Brexit will be as the company posted strong results. The figures Topps Tiles said like-for-like sales were up by 6.2 per cent for the 13 weeks to 2 July, compared to sales growth of six per cent in the same period [...]
Sterling falls to a 31-year low while gold jumps amid ongoing Brexit concerns July 6, 2016 The British pound fell to fresh 31-year lows against the dollar and multi-year lows against a host of other currencies this morning. After closing two per cent lower at $1.3022 yesterday, it hurtled to break through the $1.30 barrier again this morning for the first time since 1985. It hit a new low of $1.2798, though [...]
City Moves for 6 July 2016 | Who’s switching jobs July 6, 2016 HSBC COMMERCIAL BANKING HSBC Commercial Banking has appointed Stuart Tait head of commercial banking, Asia-Pacific. He will relocate to Hong Kong from London to take up his new role. Stuart joined HSBC in 1984 and has held various positions in commercial banking, global banking and markets, retail banking and wealth management, risk and HR. His assignments have been in Asia, [...]
Allen & Overy financials hold steady in face of Brexit uncertainty July 6, 2016 Magic circle outfit Allen & Overy today revealed a small dip in its reported profits, as EU referendum uncertainty caused work to tail off in the second half of its financial year. The figures Profit before tax for the year to April slid by 1.4 per cent to £562m, although the figure was also affected by changes to [...]
Why not just anything can be a MACCOFFEE – EU court rules in favour of McDonald’s trademark July 5, 2016 Fast food mainstay McDonald's today received a boost to its branding, after a Singapore rival failed in a bid to secure rights to the MACCOFFEE trademark. The General Court of the European Union decided that Future Enterprises' EU trademark application for MACCOFFEE could not be approved because of an earlier trademark application made by McDonald's, which covered the affixing of [...]
Sterling sinks below $1.30 for the first time in over three decades July 5, 2016 Sterling has been knocked back today, tumbling against the dollar and the euro as the ramifications of the Brexit vote continue to filter through. The pound was off by two per cent against the dollar, falling to exactly $1.2997 shortly after the London market close. It bounced after falling under the psychological barrier, climbing back to dizzy highs [...]
At the close: Sterling and stocks break apart July 5, 2016 In yet more proof the stock markets and the UK economy don't always move in lock-step, the FTSE 100 jumped today, while the pound slumped, and signs of a post-referendum slowdown grew. The index of the UK's top 100 companies started the day down as it looked like the post-referendum bounce was drawing to a [...]
Aviva and M&G become the latest property funds to suspend trading as investors flee the Brexit-battered industry July 5, 2016 Two more property funds have suspended trading today as investors pull their money out of UK commercial property. M&G announced this afternoon that it was temporarily suspending trading in the shares of the M&G Property Portfolio. And earlier today Aviva suspended trading in its property fund, just after the Bank of England said this morning that it was [...]
Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]
Oil slips below $50 per barrel as global economic storm clouds gather July 5, 2016 The oil price has dipped below $50 per barrel as investors fret over a potential slowdown in global economic growth. It's feared that a global slowdown could result in a slackening in demand and recent supply outages in Nigeria and other exporting nations have not been enough to offset fears. At pixel time Brent crude was [...]