Business

Nvidia turmoil continues as Jensen Huang resigns over affairs scandal and company appoints interim CEO – as it happened
Posted on Thursday November 12, 2026

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Analysis: Jensen Huang built an AI kingdom. What now?
Full report: Jensen Huang resigns as Nvidia CEO

Too big – and too well-connected – to sack?

Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US.

Poundland owner secures two extra weeks to ensure retail chain’s survival
Posted on Thursday November 12, 2026

US investment firm Gordon Brothers is ‘taking due care’ to consider if one of three bidders has enough funds

Poundland’s owner has said it is “taking due care” to consider if one of three bidders had enough funds to ensure its survival after the troubled budget retail chain secured two more weeks to find a deal.

The management of Poundland, which employs approximately 12,000 people and operates 600 stores in the UK and Ireland, won approval from the high court for an extension of legal protection from creditors on Thursday morning.

UK car industry to press EU for two-year delay to Brexit EV tariffs
Posted on Thursday November 12, 2026

‘Rules of origin’ on vehicle batteries due to come into force on 1 January if deal on new delay is not reached

The UK car industry is preparing to push for a two-year delay to Brexit tariffs on electric cars traded with the EU, after an initial European proposal suggested a shorter delay.

Tariffs are due to kick in on 1 January for the majority of electric cars traded between the EU and UK unless the two sides can come to an agreement to delay for a second time the implementation of “rules of origin” on batteries.

From washing dishes at Denny’s to rockstar of AI: the rise and fall of Nvidia’s Jensen Huang
Posted on Thursday November 12, 2026

Technical expertise and an ability to engage gave the chipmaker’s co-founder, who has now resigned, the edge with customers and investors

Jensen Huang resigns as Nvidia CEO after alleged affairs

Jensen Huang wasn’t always in his trademark leather jacket. When the multibillionaire, now former Nvidia chief executive was a teenager in the US, his first job was waiting tables and washing dishes at a branch of Denny’s.

“It teaches you humility, it teaches you hard work, it teaches you hospitality,” he said in 2023 of his time at the diner chain.

Home sales hit 16-year low in October amid record-high mortgage rates
Posted on Thursday November 12, 2026

Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high

US existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.

Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to $416,700. Declines in sales were seen in the midwest, south and west, though sales in the north-east held steady.

Metro Bank up for sale, with billionaire investor in line for £420m windfall
Posted on Thursday November 12, 2026

Shares up 7% after announcement as Jaime Gilinski Bacal seeks exit three years after helping to rescue bank

Metro Bank is putting itself up for sale three years after its near-collapse, in a move that could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal.

Metro Bank made the rare decision to publicly announce it was open to bids on Thursday, paving the way for a wider pool of suitors. The announcement pushed the share price up by 7% by mid-morning, valuing the bank at about £1.3bn.

AI helps UK economy grow at fastest pace for more than two years
Posted on Thursday November 12, 2026

GDP ‘grew robustly’ by 0.7% in third quarter and by 0.2% month on month in September despite high oil prices

AI helped the UK defy expectations – but will Britain’s resilience fizzle out?

The UK economy grew by 0.7% in the third quarter, its fastest expansion in two and a half years, as the rollout of AI services increased activity.

The Office for National Statistics reported that the economy “grew robustly” in the July to September quarter, almost entirely due to strong and widespread growth in the services sector, led by the IT sector.