PM's judgment in dock after phone-hacking case. Cameron facing defeat over Juncker Taxpayers' £35.7m bill for monarchy. Tell overweight people to diet, says obesity adviser. BANK OF NEW YORK MELLON CORP The company said Brian Shea, president of investment services, will replace Tim Keaney as chief executive of investment services, effective immediately. The trust bank also said Brian Rogan, chief risk officer, and Art Certosimo, CEO of global markets, would retire at the end of this year. U.S. BANCORP ASSET MANAGEMENT INC The asset management unit of U.S. Bancorp, named Eric Thole as chief executive and president, effective June 30. Thole will succeed Joseph Ulrey, who is retiring. Thole has earlier served as the chief operating officer of the company and as the vice president of First American Funds. RBC CAPITAL MARKETS The corporate and investment banking arm of Royal Bank of Canada said it appointed Andrew Graham managing director, head of Sterling Rates Trading. The firm also named Neil Weatherall managing director, head…
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A new Canadian study says it's more emotionally damaging to be ignored in the workplace than bullied. This understandably raised some eyebrows; bullying is an overtly hostile act, whereas we're taught from childhood that turning a blind eye to those we can't stand is the civilised thing to do. For a simple explanation of this seemingly odd result, look to Oscar Wilde, who said: "There is only one thing in the world worse than being talked about, and that is not being talked about." Workplace bullying can be awful, but it does have one rather cheerless payoff; at least you can be certain that people think you're worth bullying. The ignored person lacks even that chilly solace. Why do would-be standup comedians subject themselves to hecklers at open-mic nights? Perhaps that's the reason. Nobody would choose an audience of drunken hecklers; on the other hand, an audience! One person that study wouldn't have surprised is Idries Shah, the Indian-born philosopher who died in 1996. Beneath…
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Poles blast 'stupid' Cameron. Insecticides put world's food at risk. Call to sack Blair as Mid East envoy. May was hottest since records began. UK 'breaking law' on data retention. Britons in debt due to social lives. Primark shopper finds 'cry for help' sewn into £10 dress. CITIGROUP INC The financial group named Carmen Haddad as its new chief executive for Qatar. Haddad is currently head of Citi's private banking business in the Gulf and Egypt. He will continue in this role, as well as take on responsibility for Qatar. Separately, Citigroup said on Friday that Edward "Ned" Kelly, a former chief financial officer who went on to advise as chairman of the company's investment bank, is retiring. Kelly, 61, will be replaced by Stephen Volk, who joined the bank in 2004 and will continue to be a vice chairman of Citigroup, a spokeswoman said. UBS AG The financial services company named Amir Sadr as head of its ultra high-net worthbusiness in the Middle East…
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Spain crash out of World Cup. Call for £10 charge to visit GP. 'No more boob jobs on the NHS,' pledges Jeremy Hunt. Suicide bomber attacks World Cup fans in Nigeria. Labour to cut youth benefits. Man rescued from cave after 12 days. Rabbit-hutch Britain: Health concerns as UK sets record for smallest homes in Europe. Treasure hunt to hit London. CITIGROUP INC The bank's global head of foreign exchange, Jeff Feig, is leaving the company and will join investment firm Fortress Investment Group LLC as a portfolio manager. DEUTSCHE BANK AG Deutsche Bank has named Sylvie Matherat, a former top official of the Bank of France, to head its global regulatory affairs department, as Germany's biggest lender navigates an array of legal and regulatory probes. MORGAN STANLEY The Wall Street bank has hired a senior loan executive and his team from Deutsche Bank AG to cater to high net worth clients who want to buy or borrow against real estate, yachts,…
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Brazil beat Croatia 3-1 in World Cup opener. Crisis pulls United States back towards Iraq. Ganja free: Jamaica relaxes drug law. Comet staff win multi-million pound payout. Ford airlifted to hospital after Star Wars accident. Worried it was only you? Even crayfish can feel anxiety, scientists show. BNP PARIBAS SA The chief operating officer of BNP Paribas is to step down at the end of June and retire completely on Sept. 30, France's biggest bank announced on Thursday as talks with U.S. authorities over a potential $10 billion fine gathered pace. U.S. TREASURY Mary Miller, the U.S. Treasury's top official for domestic finance and a key player in implementing the Dodd-Frank Wall Street reforms, will step down in early September, Treasury said on Thursday. LEBC GROUP The UK-based financial consultancy said it appointed Jon Newman and Dermid Strain to the boards of group companies LEBC Group Ltd and LEBC Holdings Ltd. Newman is group director of finance at private equity firm BP Marsh, with over…
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UK jobless rate falls to five-year low. London taxi drivers protest over Uber. US urges Iraqi response over Mosul. Boris Johnson spends £218,000 on water cannon for Met Police – who can't use them without Home Secretary's go ahead. New Star Wars spin-off to be made in UK. Europe to probe Apple's tax deal in Ireland. JPMORGAN PRIVATE BANK The financial advisory firm, a part of JPMorgan Chase & Co , said it appointed Renaud Billard as executive director in the UK to advise high net worth clients. Prior to this, Billard headed the French desk at Societe Generale Private Banking Hambros in London. E*TRADE FINANCIAL CORP The brokerage firm appointed Gary Stern to its board and risk oversight committee. Stern served as chief executive of the Federal Reserve Bank of Minneapolis from 1985 through 2009 and co-authored "Too Big to Fail: The Hazards of Bank Bailouts." MACQUARIE SECURITIES The institutional equities arm of Macquarie Group Ltd said it hired Mark Dwyer and Graham Cook…
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I apologise unreservedly. I have now been enlightened to the fact that it is not just countries who do Moonshots, but also companies. Here then is Moonshots 2. Larry Page lives by the gospel of 10x. Most companies would be happy to improve a product by 10 percent. Not the CEO and cofounder of Google. The way Page sees it, a 10% improvement means that you’re basically doing the same thing as everybody else. You probably won’t fail spectacularly, but you are guaranteed not to succeed wildly. Page expects his employees to create products and services that are 10 times better than the competition, meaning he isn’t satisfied with just discovering a couple of hidden efficiencies or tweaking some code to achieve modest gains. Thousand-percent improvement requires rethinking problems entirely, exploring the edges of what’s technically possible, and having a lot more fun in the process. This regimen of cheeky aspiration has made Google an extraordinary success story, changing the lives of its users while…
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Rik Mayall dies aged 56. Unlikely couple: 'One of the great mass crimes of the 20th century and 21st century': Hague and Jolie call on world to end rape as a weapon of war. Magistrate fines quadrupled. How tomato sauce could fight disease. One in three have borderline diabetes. Blatter hits out at 'racist' plot against Fifa. INVESCO POWERSHARES The investment boutique firm, part of Invesco Ltd, said it appointed Kristian Walesby as head of ETF capital markets, EMEA as part of its ongoing push to expand in Europe. Prior to this Walesby developed the capital markets platform globally for London-based investment firm ETF Securities. WILLIS GROUP HOLDINGS The global risk advisor said it appointed Tom Srail technology, media and telecommunications (TMT) industry leader for North America, and Fredrik Motzfeldt as TMT industry leader for Europe. Srail and Motzfeldt will report to Sara Benolken, global head of Willis's TMT industry. Srail joined Willis in 2004 and since then has specialized in advising multinational clients…
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Karachi airport: Pakistani Taliban claim responsibility. Nadal wins ninth French Open title. Storm clouds grow as England fail to beat 10-man Honduras in Miami. Sponsors increase pressure on Fifa. Furious Cameron slaps down Gove and May. Spot checks on schools after Trojan Horse plots. Obesity causing 1 in 10 deaths, top doctor warns. Binge drinkers should pay for hospital beds, says think tank. Medals of 92-year-old war veteran stolen in burglary on 70th anniversary of D-Day. Woman dials 999 because sprinkles were spread unevenly on her ice cream. WARSAW STOCK EXCHANGE Poland's deputy treasury minister, former investment banker Pawel Tamborski, has stepped down to become the new chief executive of the Warsaw Stock Exchange (WSE), the ministry said on Friday. BNP PARIBAS New York's banking regulator has asked one of the bank's chief operating officers to leave as part of a settlement involving sanctions violations, according to a person familiar with the matter. BNP Paribas COO Georges Chodron de Courcel is among more than a…
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In case you don’t know, a moonshot is where a country spends billions on a project, a plan that it hopes will define it for a generation and reap significant rewards. The first was probably the United States’ Apollo programme, when the US spent billions over a 10-year period, in order to beat the Russians to the moon. They spent over $100bn and are reckoned to have recouped $137 per dollar in spin-offs. The Americans became a tech-savvy, middle-class nation as a result. Then a 33-year slowdown. So what about now? Well, funnily enough, it’s the Chinese who are sticking themselves centre-stage in the moonshot stakes. They are attempting four at once. Firstly: Transport. More people take a high-speed train daily in China, than catch a plane in the US. This is a massive undertaking by the Chinese government, who have a 10-year plan to reduce CO2 emissions unlike any nation before. Second: The environment. China is swamped with air pollution, yet is determined to…
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