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

Meanwhile drought hits Argentina food production

As Queensland buckles under heavy rains brought by La Niña, on the other side of the world, in Argentina, the weather pattern is causing the opposite problem.

Missed opportunities to thwart gunman's plans

As Federal investigators in Tucson try to piece together a detailed picture of Jared Loughner, the suspect in last weekend's mass shopping centre shooting, one question keeps coming back: why were no alarm bells sounded with the authorities before last Saturday about his disturbing behaviour?

US reinforcements sent to hold Afghan gains

The United States plans to send 1,400 more Marines to Afghanistan to try to hold on to recent but fragile security gains, just months before a planned US drawdown, The Wall Street Journal reported yesterday.

Sweet smell of success at Center of Olfactory Art's new exhibition

Perfume is big business. And now the recently announced Center of Olfactory Art, part of the New York Museum of Arts and Design, is to celebrate the smell of perfume not as something you splash on ahead of a night out, but rather as an art form in its own right. The centre's first exhibition, The Art of Scent, 1889-2011, will examine some of the world's best-known perfume creators through ten well-known scents.

US downplays Chinese fighter jet images

China is years away from fielding a stealth aircraft, despite the disclosure of images indicating that it appears to have a working prototype, a US Navy official has said.

The Feral Beast: An ill-wind for Times's Foster

Times editor James "weathervane" Harding has had a change of heart – again.

Last Night's TV: Mad Men/BBC4<br />The North on a Plate/BBC4

Who is Don Draper?" That question – with a few supplementaries thrown in – has already sustained three fine series of Mad Men and it was the very first thing you heard in episode one of series four, as if to bring fans back to basics after the recess. The question was asked, in this instance, by a reporter for Advertising Age, prompted to do a small feature on Don and his new agency by a Glo-Coat Floor Wax commercial that has "caused a bit of a squeal". Don, though, was not in any mood to sell himself. "I'm from the Midwest," he replied. "We were taught that it's not polite to talk about ourselves." To give him his due – he has a lot on his mind right now. His new agency is up and running, but the employees of Sterling Cooper Draper Pryce are having to lie about the scale of their operation, referring offhandedly to a "second floor" that doesn't actually exist. There's no guarantee that they'll get enough new accounts to keep the firm going, and some of the accounts they do have are proving tricky. With Thanksgiving looming, Sugarberry Ham has sent just one tin of the product into the office – a slight that Pete reads as a sign of imminent defection to another agency – and Don is struggling with the Jantzen account, a self-styled "family-firm", which is attempting to hold back the advancing tide of bikini miniaturisation.

Business Diary: Philippines' gain proves illusory

Stock market investors in the Philippines thought they had earned a buck or two yesterday, as their benchmark index soared by 14 per cent during the first three hours of trading. Sadly for them, the Philippine Stock Exchange then decided to suspend trading as it published a statement conceding that he gains were erroneously produced by a brand new computer system launched yesterday morning. In fact, share prices had fallen by 0.1 per cent over the three hours in question. Let's hope no one spent their winnings.

Still smoking? Mad Men is back on air in America

Mad Men returned last night with a new season on American TV. Does it still pack a punch? Sarah Hughes tuned in

Take it to the bank: The Pulitzer-nominated Adam Haslett gets intimate with the global banking meltdown

Praise has flown in from every quarter for the debut novel by the Pulitzer-nominated author Adam Haslett, one of the first fictional takes on the financial meltdown, viewed through the prism of a crisis of masculinity

Cycling: Fresh doping claims are just 'sour milk' insists Armstrong

Lance Armstrong has rejected a fresh series of doping accusations from his former team-mate Floyd Landis relating to alleged drug use within Armstrong's former squad, US Postal. For the second time in 10 weeks, Landis made the allegations in an interview with the Wall Street Journal, published hours before the 38-year-old RadioShack leader rolled down the start ramp of what will be his final Tour.

Paul Steiger - Setting the truth free

America&rsquo;s tradition of investigative journalism has a new champion, and the organisation he founded is already making waves &ndash; and winning prizes. Stephen Foley meets a man on mission

The Man Who Owns the News, By Michael Wolff

Why exactly did Rupert Murdoch allow Vanity Fair writer Michael Wolff hours of interview time with him, his closest colleagues and his family for this biography?

Cycling: Armstrong accused of doping &ndash; but is it a case of bad blood?

Floyd Landis has admitted to years of drug use in an attack on his former team-mate's reputation

Rupert Murdoch: We're going to stop Google taking our stories for nothing

Why did I decide we would charge online? Because I listened to [my] executives, the case they made, and the revenue involved and the success of it.

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Prices correct as of 21 November 2014
In a world of Saudi bullying, right-wing Israeli ministers and the twilight of Obama, Iran is looking like a possible policeman of the Gulf

Iran is shifting from pariah to possible future policeman of the Gulf

Robert Fisk on our crisis with Iran
The young are the new poor: A third of young people pushed into poverty

The young are the new poor

Sharp increase in the number of under-25s living in poverty
Greens on the march: ‘We could be on the edge of something very big’

Greens on the march

‘We could be on the edge of something very big’
Revealed: the case against Bill Cosby - through the stories of his accusers

Revealed: the case against Bill Cosby

Through the stories of his accusers
Why are words like 'mongol' and 'mongoloid' still bandied about as insults?

The Meaning of Mongol

Why are the words 'mongol' and 'mongoloid' still bandied about as insults?
Mau Mau uprising: Kenyans still waiting for justice join class action over Britain's role in the emergency

Kenyans still waiting for justice over Mau Mau uprising

Thousands join class action over Britain's role in the emergency
Isis in Iraq: The trauma of the last six months has overwhelmed the remaining Christians in the country

The last Christians in Iraq

After 2,000 years, a community will try anything – including pretending to convert to Islam – to avoid losing everything, says Patrick Cockburn
Black Friday: Helpful discounts for Christmas shoppers, or cynical marketing by desperate retailers?

Helpful discounts for Christmas shoppers, or cynical marketing by desperate retailers?

Britain braced for Black Friday
Bill Cosby's persona goes from America's dad to date-rape drugs

From America's dad to date-rape drugs

Stories of Bill Cosby's alleged sexual assaults may have circulated widely in Hollywood, but they came as a shock to fans, says Rupert Cornwell
Clare Balding: 'Women's sport is kicking off at last'

Clare Balding: 'Women's sport is kicking off at last'

As fans flock to see England women's Wembley debut against Germany, the TV presenter on an exciting 'sea change'
Oh come, all ye multi-faithful: The Christmas jumper is in fashion, but should you wear your religion on your sleeve?

Oh come, all ye multi-faithful

The Christmas jumper is in fashion, but should you wear your religion on your sleeve?
Dr Charles Heatley: The GP off to do battle in the war against Ebola

The GP off to do battle in the war against Ebola

Dr Charles Heatley on joining the NHS volunteers' team bound for Sierra Leone
Flogging vlogging: First video bloggers conquered YouTube. Now they want us to buy their books

Flogging vlogging

First video bloggers conquered YouTube. Now they want us to buy their books
Saturday Night Live vs The Daily Show: US channels wage comedy star wars

Saturday Night Live vs The Daily Show

US channels wage comedy star wars
When is a wine made in Piedmont not a Piemonte wine? When EU rules make Italian vineyards invisible

When is a wine made in Piedmont not a Piemonte wine?

When EU rules make Italian vineyards invisible