INTEL SUPERCOMPUTER TO AID START-UPS IN EAST LONDON
Intel has thrown its weight behind the Tech City project in East London, earmarking one its supercomputers for start-up companies in the area’s “Silicon Roundabout” to use free of charge. It has four such computer clusters in Swindon, each of which is capable of handling 2.25 trillion calculations per second.
COUTTS TO BE FINED OVER AIG PRODUCT SALES
The City watchdog will fine Coutts & Co, the private bank that counts the Queen among its clients, about £6m for the way it sold savings products linked to failed US insurer AIG. The fine, expected to be announced as soon as Tuesday, is one of the stiffest penalties ever handed down by the Financial Services Authority.