Bank of England’s Bailey: Central banks must challenge populism Economics Andrew Bailey has called on central banks international institutions to stand up to proponents of populism with their words and actions, warning that organisations like the Bank of England are being painted as “unresponsive and acting for the benefit of powerful” interests. In a speech to a group of economists and officials in London, governor [...]
Central banks throw weight behind Fed after Trump assault Economics Some of the world’s most prominent central banks have issued a full-throated support of the Federal Reserve and its chair Jay Powell, after Donald Trump’s campaign against its independence escalated with a Department of Justice legal action. In an unusual joint intervention, 11 central banking chiefs declared they stood in “full solidarity” with the Fed’s [...]
Tom Hayes sues UBS over Libor scandal Banking Tom Hayes is suing his former employer UBS, alleging it handed him on a “silver platter” to white-collar crime prosecutors to safeguard the interests of the Swiss lender and its leadership. The former trader, who became the face of the Libor rate-rigging scandal when he was sentenced to nine years in a UK prison in [...]
Google back in the hot seat as antitrust pushes Chrome sell April 22, 2025 Alphabet-owned Google returned to a Washington DC courtroom on Monday for the remedies phase of the US government’s landmark antitrust case, with the department of justice (DOJ) calling for a structural breakup of the tech giant – including a forced sale of its Chrome browser. The trial follows a 2023 ruling by US district judge [...]
Google break-up on the table in US antitrust case October 9, 2024 The US government is weighing up a break-up of Google in an attempt to end its monopoly over much of the internet. The US Department of Justice has said that it was considering asking a judge to impose “structural requirements” on the tech giant to prevent it from maintaining its dominance on search. “Fully remedying [...]
Publishers rally as Google advertising antitrust trial restarts in US September 9, 2024 One month after a US court ruled that Google illegally maintained its monopoly on internet search, the tech giant is back in the dock. This time, Google’s lucrative online advertising business, which last year raked in nearly $240bn (£183bn), is under fire, with the US Department of Justice (DOJ) and 17 states accusing its parent company, Alphabet, of monopolising digital [...]
Nvidia shares plunge: Are investors on the edge of ‘AI apathy’? September 4, 2024 Analysts are asking if we are at “peak Nvidia” or if the latest selloff is simply a healthy correction in an overheated market. Shares in Nvidia, the poster child for AI, plunged nearly 10 per cent on Tuesday, wiping out $279bn of value—the largest single-day loss ever recorded for a US stock. Since 19 August, [...]