Stephen Foley

Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.

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Republican presidential candidate, Mitt Romney spends the weekend with close political friends

Mitt Romney's weekend away with 700 close friends (who happen to be rich)

Running-mate hopefuls jostle for position at lavish event ahead of $6bn election

US teeters on a fiscal cliff edge

The world's biggest economy risks recession unless Congress acts swiftly. Stephen Foley reports from New York

Stephen Foley: Money market funds and the hidden bailouts

US Outlook: The Securities and Exchange Commission revealed this week that it knew of 300 separate occasions where money market funds, an ultra-conservative type of mutual fund that millions of Americans use like they are bank accounts, have had to be quietly bailed out by their sponsoring broker since the products were invented in the Seventies.

Stephen Foley: Fine on the Surface but Ballmer has to tell us why that's entertainment

US Outlook: Memo to Steve Ballmer: it's not the device, it's the ecosystem.

Stephen Foley: Moody's will tighten the vice on bank downgrades

US Outlook: Arbitrary! Backward looking! Completely unwarranted! Complaining by the banks downgraded by Moody's started the second the rating agency's actions hit the wire late on Thursday night. Citigroup sounded especially aggrieved at the two-notch cut to its credit rating, but all the affected institutions rushed out statements to assert that they have never been safer.

Larry Ellison owns a fighter jet, yacht racing team and supercars galore, so what did the billionaire buy next? The Hawaiian island of Lanai

You probably would too if you had $36bn. Not content with a vast collection of toys that spans luxury homes, private jets, lavish cars and cup-winning sailboats, the software mogul Larry Ellison is splashing out on his own paradise island, it has been revealed.

The Spotlight On: Mary Schapiro, chairman, Securities and Exchange Commission

The world's most powerful female regulator?

Federal Reserve 'Twists' again for extra six months

The US Federal Reserve will continue "Operation Twist", its intervention in the credit markets, to push down long-term interest rates for an extra six months.

The Microsoft Surface is far from being an iPad clone

Microsoft Surface: The tablet that's a tonic for the software giant

The software giant's recent launches have tried and failed to match Apple's iPod and iPhone. But it looks to have hit the target with its Surface, the rival to the iPad, which is part laptop and part tablet

The IBM Sequoia becomes the world’s fastest computer,with the ability to complete in one hour calculations that would take 6.7 billion people more than three centuries to carry out

Faster than a speeding petaflop: IBM flies past Japanese rival to win battle of the supercomputers with its Sequoia machine

American firm's Sequoia machine designed to simulate nuclear bomb tests

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