A press complaint by a former Fujitsu CEO about his role in the Post Office scandal has been partly overturned by the industry watchdog following new information uncovered by a BBC investigation. The Independent Press Standards Organisation (Ipso) now says the Sunday Times had not been misleading when it reported that Michael Keegan had been “central” to Fujitsu’s dealings with the Post Office, reversing a ruling it made in 2022. It is the first time the watchdog has revisited one of its published findings on the basis of new information. A separate part of the complaint remains upheld for which…
Author: Amelia Greene
JPMorgan CEO Jamie Dimon has issued a grim warning for the direction of the U.S. economy, saying he sees the odds of a “soft landing” as far lower than markets are pricing in while sounding the alarm on a possible bout of 1970s’ style stagflation fueled in part by the Biden administration’s massive deficit spending. Mr. Dimon made the remarks in an April 25 interview with The Wall Street Journal, in which he warned about Americans being lulled into a false sense of confidence because the U.S. consumer appears to be in “pretty good shape” right now, stock markets are…
Facebook parent company Meta has added three new members to its board of directors—including UFC CEO Dana White, a close ally of President-elect Donald Trump—in a move that signals the company’s commitment to diversifying its leadership with figures from a broad range of industries with distinct expertise. Meta CEO Mark Zuckerberg announced the new appointments on Jan. 6, emphasizing their varied backgrounds as critical in shaping the company’s vision for the future. The other two new board members are John Elkann, executive chairman of Ferrari and Stellantis; and Charlie Songhurst, who served as head of global corporate strategy at Microsoft.…
Tether, the world’s largest stablecoin issuer, is preparing to launch a U.S.-based stablecoin as soon as this year, as its CEO ramps up his presence in Washington to shape crypto regulation. In an interview with CNBC this week, Tether CEO Paolo Ardoino revealed that the company is working on plans to issue a new dollar-pegged stablecoin in the U.S. as soon as this year. The move comes as Tether, once accused of being a criminal’s ‘go-to cryptocurrency’ – rebrands itself as a partner to American lawmakers and law enforcement. “A domestic stablecoin would be different from the international stable coin,”…
It’s no secret that artificial intelligence is changing the way we work. In fact, “roughly two-thirds” of jobs posted on Indeed require skills that AI could perform reasonably well, says the CEO of the job-search platform, Chris Hyams. That doesn’t mean you should throw your hands up and prepare for AI bots to take your job, however: There are many roles AI isn’t capable of doing, and even more that it’ll never be equipped to do, Hyams says. “We have 300 million plus job seekers coming to Indeed every month … and there’s a lot of anxiety [about whether] AI is…
The Berkshire Hathaway board voted unanimously on Sunday to make Greg Abel president and CEO on Jan. 1, 2026, and for Warren Buffett, 94, to remain as chairman, the company said. Buffett shocked Berkshire shareholders and Abel by announcing in the final minutes of the company’s annual shareholder meeting Saturday that he would be asking the board to replace him as CEO at year-end with the current vice chairman of noninsurance operations for Berkshire. Buffett, who is both chairman and CEO, did not make it clear at the time whether this would mean he would relinquish the chairman title as well, although he did…
Amazon CEO Andy Jassy says he’s never been afraid to pose questions. As a kid, Jassy persistently asked family and friends, “Why?” to learn about the world — “perhaps to an annoying extent,” he wrote in his most recent annual letter to shareholders, which published on April 10. Throughout his tenure at the $2.01 trillion company, Jassy has noticed that the same simple question has helped Amazon, and its employees, become successful, he wrote. The employees and teams who most ask “Why?” and regularly prod for more answers, are the ones that best break down complex problems and create new products,…
Jim Cramer on Wednesday expressed faith in Starbucks CEO Brian Niccol’s ability to execute a turnaround, even though the coffee chain’s quarter missed expectations and failed to impress Wall Street. “This is a case where you simply have to bet on the jockey and remember that he can turn the horse around and make it a winner,” he said. Starbucks reported weaker-than-expected earnings and revenue, posting another quarter of same-store sales declines. Shares dipped during Wednesday’s session, finishing down 5.66%. Niccol admitted the results were “disappointing” on the earnings call, but he claimed that “behind the scenes, we really are showing a lot of signs of progress.”…
When it comes to homebuying, realtors like to say “marry the house, date the rate” — but the phrase makes Erin Sykes “cringe.” “We’ve heard it a lot over the last few years,” the Florida-based realtor “It’s not good advice.” The phrase suggests that homebuyers should commit to a house — like a marriage — while treating the mortgage rate as something temporary — like dating — with the assumption that they can refinance later when rates drop. But that expectation ignores the cost of refinancing, which can range from 2% to 6% of the loan balance — an expense that can add…
Mortgage rates have barely budged in the last month. That, and a broader concern among consumers about the state of the economy, has also kept mortgage demand muted. Total mortgage application volume dropped 1.6% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased to 6.70% from 6.71%, with points increasing to 0.62 from 0.60, including the origination fee, for loans with a 20% down payment. Applications to refinance a home loan dropped 6% for the week…