Bureaucracy will set you free … Two movements, fundamentally opposed, are at work in the world: corruption and anti-corruption. The marketization of the economies of China, India and Russia in the past two decades has exacerbated the corruption in those countries. Businesspeople and politicians, often hardly distinguishable, become billionaires in tandem. But corruption is falling out of fav...Read More
Investors in China should be wary of revolution. China is heading for a social revolution, according to Fidelity fund manager Anthony Bolton. Mr Bolton is one of Britain's most famous fund managers, having earned investors in his Fidelity UK Special Situations fund an average of 20pc a year for 27 years. He stepped down in 2010 to launch a China-focused investment trust for Fidelity, but perfo...Read More
'A cesspit': Libor scandal may be going on elsewhere …The market for determining one of the world's key interest rates was a "cesspit" and banks cannot be trusted … The market for determining one of the world's key interest rates was a "cesspit" and banks cannot be trusted to be honest in several other major markets, the deputy governor of the Bank o...Read More
Credit Suisse urges investors to jump into stocks … One month after turning cautious on global stock investing, the investment committee of Credit Suisse Group's U.S. private bank has reversed course. "Plentiful liquidity, attractive valuations and low inflation make equities among our best options in an asset allocation context," a team led by Barbara Reinhard, the unit's...Read More
The particle found in the Large Hadron Collider last year "strongly indicates" that it is the long-sought Higgs Fri, Mar 8 2013 boson, the CERN physics research center said on Thursday. But a statement on the latest findings from huge volumes of data gathered during three years of collisions in the LHC stopped short of claiming the boson, believed to be the particle that gives matter to...Read More
Method for Making Cheap, Clean Water Is Announced … Pentagon weapons-maker finds method for cheap, clean water … A defense contractor better known for building jet fighters and lethal missiles says it has found a way to slash the amount of energy needed to remove salt from seawater, potentially making it vastly cheaper to produce clean water at a time when scarcity has become a global...Read More
Henrik Fisker has quit as executive chairman of Fisker Automotive, the plug-in hybrid car company he founded in 2007. A dispute with other executives over a survival strategy for the struggling start-up led to his departure. A former designer for BMW, Ford and Aston Martin, Fisker created the high-style Karma, a $100,000-plus plug-in luxury car with a backup gasoline engine similar to the powertra...Read More
Top House lawmaker questions validity of consumer bureau funding … Obama has renominated Cordray, who will have his Senate confirmation hearing Tuesday, and nearly all Senate Republicans have promised again to block him. − Los Angeles TimesDominant Social Theme: This new bureau will really help make US consumers prosperous again.Free-Market Analysis: Why do US consumers need protection...Read More
Credit Suisse urges investors to jump into stocks … One month after turning cautious on global stock investing, the investment committee of Credit Suisse Group's U.S. private bank has reversed course. "Plentiful liquidity, attractive valuations and low inflation make equities among our best options in an asset allocation context," a team led by Barbara Reinhard, the unit's...Read More
The particle found in the Large Hadron Collider last year "strongly indicates" that it is the long-sought Higgs Fri, Mar 8 2013 boson, the CERN physics research center said on Thursday. But a statement on the latest findings from huge volumes of data gathered during three years of collisions in the LHC stopped short of claiming the boson, believed to be the particle that gives matter to...Read More
Method for Making Cheap, Clean Water Is Announced … Pentagon weapons-maker finds method for cheap, clean water … A defense contractor better known for building jet fighters and lethal missiles says it has found a way to slash the amount of energy needed to remove salt from seawater, potentially making it vastly cheaper to produce clean water at a time when scarcity has become a global...Read More
Henrik Fisker has quit as executive chairman of Fisker Automotive, the plug-in hybrid car company he founded in 2007. A dispute with other executives over a survival strategy for the struggling start-up led to his departure. A former designer for BMW, Ford and Aston Martin, Fisker created the high-style Karma, a $100,000-plus plug-in luxury car with a backup gasoline engine similar to the powertra...Read More
Top House lawmaker questions validity of consumer bureau funding … Obama has renominated Cordray, who will have his Senate confirmation hearing Tuesday, and nearly all Senate Republicans have promised again to block him. − Los Angeles TimesDominant Social Theme: This new bureau will really help make US consumers prosperous again.Free-Market Analysis: Why do US consumers need protection...Read More
Without coordinated leadership, Europe will falter … There is an increasing probability that financial markets will respond negatively to the unfolding economic and political drama unfolding across Europe. So far, the European Central Bank has pumped out cash and calmed the nerves of investors, but it needs to do more. A cut in interest rates by the ECB is crucial to contribute to a revival...Read More
Dallas Fed's Fisher: Three Ways to Curb Too-Big-to-Fail Banks … Despite honest efforts by the government since the financial crisis, too-big-to-fail banks haven't been reined in, says Dallas Federal Reserve Bank President Richard Fisher. Just 12 huge banks hold almost 70 percent of the assets in the U.S. banking industry, he and Dallas Fed research director Harvey Rosenblum write in...Read More
EU unveils new air passenger rights … New rights for airline passengers have been unveiled by the European Commission. They include rerouting travellers with rival carriers if a flight is delayed for more than 12 hours. The rules also clarify what are considered exceptional circumstances for compensation. For example, mechanical failures on board the aircraft do not count, but natural disast...Read More
Cameron's new health tsar Don Berwick The NHS is suffering from "enormous sickness" in the wake of the Mid Staffordshire hospital scandal, David Cameron's new patient safety tsar has told The Telegraph. Prof Berwick is one of the world's foremost authorities on patient safety. In his first interview with a British newspaper since his appointment, Professor Don Berwick said th...Read More
Without coordinated leadership, Europe will falter … There is an increasing probability that financial markets will respond negatively to the unfolding economic and political drama unfolding across Europe. So far, the European Central Bank has pumped out cash and calmed the nerves of investors, but it needs to do more. A cut in interest rates by the ECB is crucial to contribute to a revival...Read More
Dallas Fed's Fisher: Three Ways to Curb Too-Big-to-Fail Banks … Despite honest efforts by the government since the financial crisis, too-big-to-fail banks haven't been reined in, says Dallas Federal Reserve Bank President Richard Fisher. Just 12 huge banks hold almost 70 percent of the assets in the U.S. banking industry, he and Dallas Fed research director Harvey Rosenblum write in...Read More
EU unveils new air passenger rights … New rights for airline passengers have been unveiled by the European Commission. They include rerouting travellers with rival carriers if a flight is delayed for more than 12 hours. The rules also clarify what are considered exceptional circumstances for compensation. For example, mechanical failures on board the aircraft do not count, but natural disast...Read More