News Thomas Perkins, who is thought to be worth around $8bn, made the startling comparison in a letter to The Wall Street Journal

Billionaire venture capitalist admits Kristallnacht was a "terrible word" to use but defends war on the rich remarks

Choi: 'Kim Jong-un will open up North Korea for business'

A lieutenant of the late Kim Jong-il who defected to South Korea after years of senior positions in the regime has said Kim's son will open up the isolated state to become more of a market-style export economy.

Stephen Foley: If we don't mend our broken telephones, then a lot more kittens will be crushed

US Outlook: In the UK it's called Chinese Whispers.

Light fantastic: Manhattan's Park Avenue

Last Weekend: New York's swagger can't be beaten

It sounds an extravagant solution to the pre-Christmas blues, but if you want to escape the relentless gloom on this side of the Atlantic try a weekend in New York.

Minae Kim, A Structure to Maintain the Correct Distance between Two Pillars, 2010

Bloomberg New Contemporaries, ICA, London

There may be a future Turner prize recipient in this indifferent show for up-and-coming artists – but it would be the devil's own job to pick them

Fifa advisors criticise anti-corruption committee

FIFA's anti-corruption drive ran into stormy waters today when the world governing body's advisors Transparency International rejected a seat on the commission steering the reforms.

$1bn US fraud trial focuses on Mayor Bloomberg

New York's billionaire mayor Michael Bloomberg had to endure two hours of attacks on his honesty yesterday, on subjects ranging from his bid to overturn term limits to his handling of the resignation of a deputy mayor, as he appeared in the witness box at the trial of a man accused of embezzling more than $1m from him.

Business Diary: O'Neill celebrates Bric anniversary

Ker-ching. Is that the sound of cashing in we hear? Not that Jim O'Neill, the Goldman Sachs economist, is in need of the money, but presumably Penguin is chucking him a few quid for a new book on the Bric economies. It's a decade since O'Neill came up with the Bric idea – the acronym stands for Brazil, Russia, India and China – and his prediction that they were about to become the world's economic powerhouses looks ever more prescient by the day. Penguin's Joel Rickett crows: "Jim O'Neill is one of the world's most influential economic thinkers – no wonder he has been described as Goldman Sachs'rock star."

US counts the cost of hurricane's brutal trail of destruction

The death toll is 13 and the cost will run into tens of billions of dollars, but the storm was not as severe as many had feared

Mayor Bloomberg urges New Yorkers to evacuate

New York City's mayor has told residents who need to evacuate ahead of the anticipated arrival of Hurricane Irene that they should do so immediately.

Alec Baldwin hints at run for New York mayor

Alec Baldwin, the actor who these days is most associated with the comedy show 30 Rock, is speaking openly about seeking the keys to a new address – Gracie Mansion, the mayoral residence in New York City.

Geithner may quit Treasury this year for sake of family

Timothy Geithner, the US Treasury Secretary, may leave office later this year, it was reported yesterday.

Soros predicts weaker nations will leave euro

George Soros, the man who made more than $1bn by betting against sterling on Black Wednesday in 1992, predicted yesterday that weaker nations would have to leave the euro.

Liverpool yet to make decision over new stadium

Liverpool have generated some interest in selling naming rights for a proposed new stadium but a senior official insists a final decision on whether to move or redevelop Anfield has yet to be taken.

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