Janet Yellen denies predicting rate hikes after comments roil Wall Street May 5, 2021 US Treasury Secretary Janet Yellen has downplayed comments that rate hikes may be needed to stop the economy overheating as Joe Biden’s spending plans boost growth. Yellen yesterday said that she sees no inflation problem brewing, after her previous comments deepened a sell-off in tech stocks and pushed longer-dated Treasury yields higher. What has Yellen [...]
Sir Martin Sorrell: ‘Chickens will come home to roost’ with post-Covid tax hikes May 4, 2021 Tax rises are inevitable in order to tackle spiralling pandemic-driven public debt across the world, Sir Martin Sorrell has warned. The S4 Capital advertising mogul told City A.M. that while he expected strong economic growth this year and in 2022, “at some point the chickens do have to come home to roost”. Sorrell said he [...]
S4 Capital hikes profit forecast after strong first quarter May 4, 2021 Sir Martin Sorrell’s S4 Capital today lifted its revenue and profit targets for the full year after posting another quarter of rapid growth. The digital advertising firm reported revenue of £122m in the first three months of the year, up 35 per cent on the same time last year. Gross profit grew by a third [...]
Bill and Melinda Gates to divorce but charitable foundation will continue May 4, 2021 Bill and Melinda Gates, co-founders of the one of the world’s largest private charitable foundations, have pledged to continue their philanthropic work together after filing for divorce after 27 years of marriage. The Bill & Melinda Gates Foundation has become one of the most powerful forces in global public health, spending more than $50bn over [...]
Mike Ashley’s Frasers Group launches £60m buying spree despite recent Covid setbacks May 4, 2021 Mike Ashley’s Frasers Group has announced plans to spend £60m between now and and July despite warning less than a month ago that it would suffer a £200m hit from the Covid-19 pandemic. The company, which includes House of Fraser, Sports Direct, Evans Cycles and Jack Wills, among others, will start the buying spree later [...]
Warren Buffett names Greg Abel as Berkshire Hathaway successor May 4, 2021 Investor Warren Buffett has said that vice-chairman Greg Abel will succeed him as chief executive when he steps down from the role. Buffett, 90, built Berkshire Hathaway from a failing textile maker into a $628bn investment giant. Despite the announcement, Buffet said that he has no plans to step down in the near future. “The [...]
Facebook to announce this week if it will permanently dump Trump May 3, 2021 Facebook will shortly decide on whether to uphold Donald Trump’s indefinite suspension from Facebook and Instagram after he was banned from the platforms earlier this year. Facebook’s independent oversight board will make a decision on May 5 whether to uphold the ban on the former US president on a permanent basis. In the first move [...]
Iran accused of attempting to disrupt Scottish Parliament election May 3, 2021 Iran has been accused of pushing disinformation online in an attempt to interfere in the Scottish Parliament election. A report by the right-leaning foreign affairs think-tank the Henry Jackson Society found that “Iran’s activities in cyber space are designed to attack the constitutional integrity of the United Kingdom”. “There appear to be elements within Iran [...]
Warren Buffett’s Berkshire bounds back from worst of pandemic May 1, 2021 Warren Buffett’s Berkshire Hathaway has said its results are rebounding from the worst effects of the Covid-19 pandemic, and that it has extended its aggressive stock repurchases with $6.6bn of new buybacks. First-quarter results suggest that the Omaha, Nebraska-based conglomerate that owns dozens of businesses, is through the worst effects of the pandemic, including the [...]
Boris Johnson’s mobile number available online for the past 15 years April 30, 2021 The Prime Minister’s mobile number has been online for a decade and a half, meaning thousands of people could have access to Boris Johnson’s phone number. Johnson’s contact details were listed on a 2006 press release from his time as MP for Henley. Gossip newsletter Popbitch gave its readers clues on how to fine the [...]