Jamie Dimon’s $11bn day out September 26, 2013 JP Morgan boss heads to Washington for settlement talks JP MORGAN boss Jamie Dimon met Justice officials in Washington DC yesterday, travelling down from New York to hammer out the final details of the bank’s bill to settle mortgage investigations. The lender is facing the biggest ever fine levied on a bank, with officials thought [...]
Bill Gates tops Forbes rich list with $72bn pile September 16, 2013 MICROSOFT founder Bill Gates has topped the Forbes list of America’s richest 400 for the 20th time, with a cash pile of $72bn (£45.3bn). With his wealth up $6bn from last year, Gates has also reclaimed the title of world’s richest person, having passed Mexico’s Carlos Slim in May. Berkshire Hathaway guru Warren Buffett proved [...]
Hollande turns to robots and driverless cars to boost France September 12, 2013 FRANCOIS Hollande laid out a 10-year roadmap yesterday to revive French industry by promoting new technologies to drive job creation, but which offered little public money from stretched state coffers. The socialist president, whose 2014 national budget next month will focus on curbing spending, vowed to turn back what he called a lost decade of [...]
Lagarde warns governments not to depend on easy cash forever September 10, 2013 EUROPE’S governments must push ahead with the banking union plans to solve some of the economy’s underlying problems, International Monetary Fund (IMF) boss Christine Lagarde said yesterday. She warned them off permanently relying on easy money from the European Central Bank (ECB) which has mitigated some of their problems in the short term. “We very [...]
George Osborne to say Britain’s burgeoning recovery proves austerity was the right policy September 8, 2013 THE CHANCELLOR will today argue that spending cuts were the right policy and have helped get the UK back on the right track. George Osborne faced criticism for his plan to reduce the budget deficit, and argues the latest economic figures vindicate his approach. “The pace of fiscal consolidation has not changed, government spending cuts [...]
Elon Musk’s Hyperloopalooza runs out of steam before reaching the UK August 14, 2013 Hopes that the Hyperloop travel concept could work for Britain are vanishing faster than you can say “Concorde crossed with a rail gun crossed with an air hockey table”. Transport-watchers were quick to point out the practical flaws in the ambitious pod-cum-monorail idea set out by billionaire entrepreneur Elon Musk to much hullabaloo on Monday [...]
Tech guru Elon Musk gears up to unveil the fifth form of transport August 11, 2013 THE MAN behind Paypal and Tesla Motors is today due to publish designs for the world’s fastest rail service, named Hyperloop. Elon Musk has until now kept enthusiasts guessing about the details of his “fifth form of transport,” which could one day offer supersonic inter-city travel. The billionaire entrepreneur said in May that the idea [...]
RBS names new chief Ross McEwan August 2, 2013 Along with its results the Royal Bank of Scotland (RBS) has announced a new CEO. Kiwi Ross McEwan will take the role from 1 October. McEwan will take a small pay packet than his predecessor Stephen Hester, taking a £1m annual salary and waiving his bonus. The new boss thanked his colleagues and Hester, saying [...]
Tough demands put on next lot of Zuckerbergs January 24, 2013 FACEBOOK’S recently opened London base is the type of relaxed environment the average undergraduate must dream of entering the workforce in – skateboards strewn across the floor, boardgames stacked on top of each other, and oddly-shaped sofas rather than stiff office chairs. However, ambitious students fantasising about being the next Mark Zuckerberg will have to [...]
Sadiq Khan to lead Labour in London January 16, 2013 SADIQ Khan has been appointed Labour’s shadow minister for London, leaving him well placed to seek the party’s nomination for the 2016 mayoral election. The Tooting MP replaces Tessa Jowell, who stepped down following the Olympics.