$100bn wiped off Nvidia amid tech bubble fears – latest updates Jump to content
Tag: UK economy
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Tech bubble fears grow as Nvidia shares slump
Nvidia’s stock dropped sharply last night despite the chipmaker more than doubling sales to a record $30bn (£22.8bn) in a reaction that will fuel fears of a tech bubble. Shares in the world’s second-largest publicly traded company lost as much as 8pc in fluctuating trading after its quarterly results were released on Wednesday night. The...
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British Steel to axe thousands of jobs despite £600m taxpayer handout
The request for £600m in taxpayer cash is part of a £1.3bn turnaround plan to make greener steel. This should still see an electric arc furnace constructed in Scunthorpe, though sources said they feared a plant would not be up and running for at least five years, resulting in the loss of thousands of jobs....
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Reeves paves way for tax rises after £3bn borrowing surge
The spending watchdog said higher pay deals for public sector workers were a key factor. “The difference with our forecast profile is driven primarily by higher-than-forecast consumption spending by government departments (£5.8bn), which appears related to strong growth in public sector pay,” the OBR said. Darren Jones, chief secretary to the Treasury, said the borrowing...
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Trump’s social media company falls to lowest level since float
Trump’s social media company falls to lowest level since float Jump to content
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Reeves’ appraisal of Britain’s economy is becoming laughable
First quarter growth was 0.7pc, while the second quarter, announced last week, yielded a still healthy 0.6pc. This annualises at what, by the standards of the post-financial crisis slough of despond, is a positively rip-roaring 2.4pc. Much of this gain is admittedly just a rebound from last year’s mild recession; things are likely to slow...
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Middle Eastern investment in Britain rocked by anti-Muslim riots
Robert Gardener, formerly of the Abu Dhabi Executive Affairs Authority and now director of government affairs at law firm Hogan Lovells, said leaders in the region are, contrary to common perceptions, sensitive to public opinion. “With their overseas investment the Gulf states will always be looking at how it is going to play out back...
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Chinese electric cars will be dumped in Britain, experts warn
Chinese electric cars will be funnelled towards Britain as manufacturers seek to avoid punishing European Union tariffs, analysis predicts. Car makers including MG owner SAIC and BYD offloaded a record number of electric vehicles (EVs) in Europe this summer, as part of efforts to escape incoming taxes imposed by Brussels. But in a bid to...
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Gold prices hit record high
Thanks for joining me. We begin the day with a look at retail sales, which bounced back in Britain last month. The Office for National Statistics said retailers’ sales volumes were up 0.5pc in July compared to June, following a slump of 0.9pc the previous month. 5 things to start your day 1) Rachel Reeves...
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 "Good news is UK economy records a strong quarter, the sad news is…")
Good news is UK economy records a strong quarter, the sad news is…
The British GDP grew 0.6% in the second quarter of 2024 after a 0.7% expansion in the first quarter which was the fastest in more than two years read more Britain’s economy recorded a second quarter of strong growth as it recovered from last year’s shallow recession but it lost momentum as it entered the...
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UK economy grows 0.6 per cent between April and June as it recovers from recession
Britain’s economy continued its recovery from recession at the end of last year, with its GDP increasing by 0.6 per cent between April and June, official figures showed on Thursday. The second-quarter growth in economic activity, as measured by gross domestic product, followed a 0.7 per cent increase in the first quarter and was in...
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Entitlement and laziness are crushing the life out of Britain
And how does the political class react? There’s the growing hostility towards business, with Labour bleating about the miseries of employment under “unscrupulous” bosses and the need for more worker “rights”. There may well be circumstances in which greater flexibility benefits both parties, which is why millions of voluntary agreements are already in place. But...