Richard Branson advocates ending war on drugs and decriminalisation so that production, supply and use could be better regulated March 28, 2016 Billionaire investor Richard Branson has attacked the global war on drugs and advocated decriminalisation as the only way to "wrest back control" from criminal networks. Branson claimed worldwide spending on drug law enforcement, which currently exceeds $100bn (£70.2bn) annually, has done nothing to reduce the problem and has instead served "as seed funding for a vast criminal industry [...]
General Motors given the go-ahead to acquire driverless car startup Cruise Automation March 28, 2016 The Federal Trade Commission has green-lighted General Motors' purchase of Cruise Automation, a Silicon Valley startup that makes the technology behind self-driving cars. The FTC and Justice Department has granted the transaction "early termination", or quick antitrust approval. The acquisition of Cruise Automaton – which has only 40 employees – has been reported to be worth over $1bn in [...]
Iranian brigadier general states country will continue ballistic missile development programme despite US sanctions March 28, 2016 An Iranian military commander has claimed Iran will continue to develop ballistic missiles, despite the US introducing sanctions on companies linked to the scheme. "Even if they build a wall around Iran, our missile programme will not stop," brigadier general Amir Ali Hajizadeh was quoted as saying by the Tasnim news agency, according to Reuters. "They [...]
City workers go large on Euro 2016 bets as England win against Germany in this weekend’s friendly March 28, 2016 With the turmoil we've seen in global markets recently, you would think that City workers have lost their appetite for high-risk investments. Not so when it comes to the beautiful game. Bookies at Ladbrokes say a group of well-heeled City folk have placed several large sums on England's football team to win this year's UEFA European Championship, after [...]
Oil price dips on low volumes as growing stockpiles spook investors March 28, 2016 Oil prices dipped under $40 per barrel yesterday, adding to declines recorded in the tail end of last week. The price of international benchmark Brent crude climbed to $42.51 in early trading last week, before sliding five per cent over four days. Last night the price of a barrel of Brent was trading at $39.92, while [...]
Kanye West quietly released a new version of single Famous on Apple Music, Spotify and Google Play, not Tidal which has The Life of Pablo album exclusive March 28, 2016 Kanye West has turned to Apple Music, Spotify and Google Play, making just a single song, Famous, available on the music streaming sites after his latest album was exclusively released on smaller rival service Tidal. The singer's latest album, The Life of Pablo, was released on the Jay Z-owned streaming service in February. But now, West has changed his tune, [...]
London Stock Exchange and Deutsche Boerse deal: City grandees question proposed merger amid criticisms from UK MPs and German politicians March 28, 2016 City grandees are questioning the proposed merger between the London Stock Exchange Group and Deutsche Boerse, joining politicians in both the UK and Germany who have raised red flags over the deal. Former UK trade minister and Standard Chartered chairman Lord Mervyn Davies told the Financial Times over the weekend that a government “public interest [...]
BAE systems wins £300m MoD contract to support Hawk aircraft March 28, 2016 Defence firm BAE systems has landed a £300m government contract to provide in-service support for military training aircraft, the Ministry of Defence said today. The five-year contract includes design advice and managing modifications on Hawk aircraft, which are used to by the UK armed forces to train pilots before they fly frontline planes such as Typhoons. The ministry said that [...]
Uber boss Travis Kalanick says IPO is not on the near-term agenda March 28, 2016 Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future. The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen [...]
Former New York Times editor Jill Abramson to join Guardian as political columnist March 28, 2016 The former executive editor of the New York Times, Jill Abramson, will formally join the Guardian's US arm as a political columnist, the newspaper announced today. "For over 40 years, Jill has been a trailblazer for women in journalism, and brings an unparalleled knowledge of the relationship between politics and the media in the US," Lee [...]