Protests on use of BP Gulf spill fund
A plan to build a convention centre in Alabama using money given by BP to restore the coast of the Gulf of Mexico has angered environmentalists, raising concerns over how funds to improve the environment are spent. The plan is funded out of the $1bn BP promised in 2011 for early restoration of the Gulf.
Facebook looks to video ad revenue
Facebook is set to launch video advertising in its newsfeed in July as it looks to new revenue streams to bolster its share price in the wake of its lacklustre stock market listing last year.
Whitehall shuns business gurus
The attempt by Francis Maude, cabinet secretary, to inject commercial acumen into Whitehall by putting leading business figures on departmental boards is failing to live up to its billing, with some departments rarely consulting their external non-executive directors. The Treasury department’s supervisory board met only once in the year to April 2012, according to a report by Insight Public Affairs, a consultancy.
MPs oppose Royal Mail transfer plan
Britain’s biggest grocers are heading the queue at the Post Office to take control of dozens of its main high street offices. But MPs such as Amber Rudd and Peter Hain are among those running local campaigns against the Post Office plans.
Buffett opposes Twitter revelations
Warren Buffett joined Twitter three days ago but believes that regulators have made a mistake in allowing companies to make announcements on social media.
The Daily Telegraph
UK funding risk after China threat
Billions of pounds of investments in major UK infrastructure projects are at risk because of a rift in relations with the Chinese government. China’s sovereign wealth fund will not be able to invest in long-term UK projects until a solution to the diplomatic stand-off, caused by David Cameron’s meeting with the Dalai Lama last year, has been reached. Future projects such as the High Speed 2 rail network and the UK’s nuclear investment programme could be starved of capital from China Investment Corporation.
THE WALL STREET JOURNAL
Intel says chips three times faster
Intel provided new details of its next generation of chips for mobile devices, stating they can triple calculating speed compared with prior chips. The new chips, based on a design called Silvermont, also can offer hardware designers the choice of maximizing power consumption. Silvermont is designed to exploit a novel production process that creates transistors with three-dimensional features to boost performance and improve power consumption.