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 looks to taper stimulus this year

Janet Yellen named to chair Fed as latest minutes reveal central bank concerns

President Obama nominates current vice chair Janet Yellen as new head of Federal Reserve

If she replaces Ben Bernanke, Ms Yellen would be the first woman to lead the American central bank

Alcatel-Lucent to axe 10,000 to cut costs

Alcatel-Lucent, the telecoms giant formed by the 2006 merger of France's Alcatel and Lucent Technologies of the US, plans to shed 10,000 jobs worldwide as it attempts to cut costs in the face of heavy losses.

3.5 billion of the new notes have been produced, worth $350bn

US unveils new $100 bill to foil foreign counterfeiters

The US Federal Reserve has begun circulating new $100 notes, introducing new anti-counterfeiting features – including a distinctive splash of colour – that have been more than a decade in the making.

BP disaster probe hears that 4.2m barrels of oil were spilled

The question of how much oil spewed out of BP’s Macondo well during the Gulf of Mexico spill in 2010 was centre stage at the hearing into the disaster yesterday, with a US government lawyer claiming that at least 4.2m barrels escaped.

US crisis shakes the world’s stock markets

Global markets took another pounding on Monday as international pressure grew on the US to resolve its political deadlock and avoid an unthinkable default by the world’s biggest economy.

Prosecutors claim Madoff enlisted the help of Joann Crupi to make up trading records

Did Bernie Madoff act alone in Ponzi scheme fraud? Trial of five former employees begins

When Bernie Madoff’s Ponzi scheme first came to light, Wall Street was shocked by the scope of the fraud. At $65bn, it rendered even the most seasoned traders – people who are used to dealing with millions everyday –speechless. But there was more to come, for when the disgraced financier subsequently claimed that he had acted alone, everybody was left wondering how one man could have perpetrated such an immense fraud over so many years.

Twitter founder Jack Dorsey, here with actress Kate Hudson

Markets all of a Twitter as online giant set for $1.1bn float on stock market

Beloved of teens, big business and world leaders, the broadcast platform will make its founders billions –but it’s yet to turn a profit

Twitter lifts lid on its finances at it aims for $1bn float

While the company continues to make a loss, its revenues almost tripled last year

Q&A: Resolving the US shutdown

Resolving the shutdown is important, for the longer it drags on, the greater the risk to the US economy, which remains weak. A drawn-out squabble over a stopgap budget would hit consumer spending, for example, as the furloughed federal workers tighten their belts. But in the short term, attention is turning to the debt ceiling because the federal government will hit its Congressionally mandated borrowing limit no later than 17 October.

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Day In a Page

Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea
America: Land of the free, home of the political dynasty

America: Land of the free, home of the political dynasty

These days in the US things are pretty much stuck where they are, both in politics and society at large, says Rupert Cornwell
A graphic history of US civil rights – in comic book form

A graphic history of US civil rights – in comic book form

A veteran of the Fifties campaigns is inspiring a new generation of activists
Winston Churchill: the enigma of a British hero

Winston Churchill: the enigma of a British hero

A C Benson called him 'a horrid little fellow', George Orwell would have shot him, but what a giant he seems now, says DJ Taylor
Growing mussels: Precious freshwater shellfish are thriving in a unique green project

Growing mussels

Precious freshwater shellfish are thriving in a unique green project
Diana Krall: The jazz singer on being friends with Elton John, outer space and skiing in Dubai

Diana Krall interview

The jazz singer on being friends with Elton John, outer space and skiing in Dubai
Pinstriped for action: A glimpse of what the very rich man will be wearing this winter

Pinstriped for action

A glimpse of what the very rich man will be wearing this winter
Russell T Davies & Ben Cook: 'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'

Russell T Davies & Ben Cook: How we met

'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'
Bill Granger recipes: Our chef serves up his favourite Japanese dishes

Bill Granger's Japanese recipes

Stock up on mirin, soy and miso and you have the makings of everyday Japanese cuisine
Michael Calvin: How we need more Eric Cantonas to knock some sense into us

Michael Calvin's Last Word

How we need more Eric Cantonas to knock some sense into us