Nikhil Kumar

Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.

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Fed plays 'wait and see' on rollback of stimulus

No change, yet: that was the message from the US Federal Reserve on its stimulus policies yesterday as the central bank reiterated its warning that political wrangling over fiscal issues in Washington was "restraining economic growth".

Facebook smashes expectations with latest quarterly figures... but news of fall in teenage users sends stock tumbling

Facebook's stock endured a roller coaster ride, initially surging in after hours trading after the social media giant smashed expectations with its latest quarterly figures but then swiftly shedding its gains when it emerged that the company might be losing the interest of some teenage users, an important demographic.

Customers queue to use the new ATM

That’s handy… world’s first ATM for bitcoins opens in Vancouver cafe

As ATMs go, it’s an unusual one. A kiosk has been set up in a Vancouver coffee shop that lets customers make transactions without needing a bank account or a plastic card. The blue-black box resembles a standard bank cash machine, but is in fact the first real-world portal to the virtual world of bitcoins.

US government $10bn out of pocket after General Motors bailout

Last year, when the key industrial swing state of Ohio landed in President Obama’s column, helping him to re-election, the result was attributed in part to the auto-bailouts that saved the big American car-makers from doom during the Great Recession. But for taxpayers at large, the government’s rescue of General Motors, while safeguarding jobs and helping the company recover, has resulted in a loss of almost $10bn, according to an official report.

Tim Cook at an Apple presentation in September

The iPad Air has been warmly received but is Apple losing its bite?

As growth falters and gizmos dry up, there are concerns the tech firm's boss is failing to do enough to hold off its rivals

The new iPad Air which was unveiled by Apple this month

Apple reports record iPhone sales but profits are still slipping

Quarterly figures will do little to lessen pressure on chief executive Tim Cook

A leading hedge fund manager says Bitcoin might be more than a fad and could be worth investing in

More than a fad or just a Ponzi scheme? How the world is getting used to Bitcoin

The virtual currency is being touted as a good long-term investment, as its value doubles

JP Morgan may face new $6bn lawsuit

JP Morgan is attempting to strike a deal with institutional investors over claims it mis-sold mortgage-backed securities in a move that could see the Wall Street banking giant pay out $6bn (£4bn).

According to the Tea Association of the USA, Americans consumed more than 79 billion cups of tea last year

Forget the Caramel Macchiato: Starbucks applies coffee-shop model to a new taste… tea

The company will offer 'a wide range of unique hot brewed and iced teas, tea lattes and distinctive sparkling and tea fusion beverages'

Job creation shortfall highlights fragility of American labour market

American employers added 148,000 jobs over September, underscoring the still fragile state of the labour market as the Federal Reserve considers changes to its bond-buying programme.

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Ukraine crisis: The phoney war is over as Russian troops and armour pour across the border

The phoney war is over

Russian troops and armour pour into Ukraine
Potatoes could be off the menu as crop pests threaten UK

Potatoes could be off the menu as crop pests threaten UK

The world’s entire food system is under attack - and Britain is most at risk, according to a new study
Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Seoul's plastic surgery industry is booming thanks to the popularity of the K-Pop look
From Mozart to Orson Welles: Creative geniuses who peaked too soon

Creative geniuses who peaked too soon

After the death of Sandy Wilson, 90, who wrote his only hit musical in his twenties, John Walsh wonders what it's like to peak too soon and go on to live a life more ordinary
Caught in the crossfire of a cyber Cold War

Caught in the crossfire of a cyber Cold War

Fears are mounting that Vladimir Putin has instructed hackers to target banks like JP Morgan
Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years

Salomé: A head for seduction

Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years. Now audiences can meet the Biblical femme fatale in two new stage and screen projects
From Bram Stoker to Stanley Kubrick, the British Library's latest exhibition celebrates all things Gothic

British Library celebrates all things Gothic

Forthcoming exhibition Terror and Wonder: The Gothic Imagination will be the UK's largest ever celebration of Gothic literature
The Hard Rock Café's owners are embroiled in a bitter legal dispute - but is the restaurant chain worth fighting for?

Is the Hard Rock Café worth fighting for?

The restaurant chain's owners are currently embroiled in a bitter legal dispute
Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival

In search of Caribbean soul food

Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival
11 best face powders

11 best face powders

Sweep away shiny skin with our pick of the best pressed and loose powder bases
England vs Norway: Roy Hodgson's hands tied by exploding top flight

Roy Hodgson's hands tied by exploding top flight

Lack of Englishmen at leading Premier League clubs leaves manager hamstrung
Angel Di Maria and Cristiano Ronaldo: A tale of two Manchester United No 7s

Di Maria and Ronaldo: A tale of two Manchester United No 7s

They both inherited the iconic shirt at Old Trafford, but the £59.7m new boy is joining a club in a very different state
Israel-Gaza conflict: No victory for Israel despite weeks of death and devastation

Robert Fisk: No victory for Israel despite weeks of devastation

Palestinians have won: they are still in Gaza, and Hamas is still there
Mary Beard writes character reference for Twitter troll who called her a 'slut'

Unlikely friends: Mary Beard and the troll who called her a ‘filthy old slut’

The Cambridge University classicist even wrote the student a character reference
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone

America’s new apartheid

Prosperous white districts are choosing to break away from black cities and go it alone