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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Pompeii, Capri & the Bay of Naples
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Prices correct as of 17 April 2015
Where the spooks get their coffee fix: The busiest Starbucks in the US is also the most secretive

The secret CIA Starbucks

The coffee shop is deep inside the agency's forested Virginia compound
Revealed: How the Establishment closed ranks over fallout from Loch Ness Monster 'sighting'

How the Establishment closed ranks over fallout from Nessie 'sighting'

The Natural History Museum's chief scientist was dismissed for declaring he had found the monster
One million Britons using food banks, according to Trussell Trust

One million Britons using food banks

Huge surge in number of families dependent on emergency food aid
Excavation at Italian cafe to fix rising damp unearths 2,500 years of history in 3,000 amazing objects

2,500 years of history in 3,000 amazing objects

Excavation at Italian cafe to fix rising damp unearths trove
The Hubble Space Telescope's amazing journey, 25 years on

The Hubble Space Telescope's amazing journey 25 years on

The space telescope was seen as a costly flop on its first release
Did Conservative peer Lord Ashcroft quit the House of Lords to become a non-dom?

Did Lord Ashcroft quit the House of Lords to become a non-dom?

A document seen by The Independent shows that a week after he resigned from the Lords he sold 350,000 shares in an American company - netting him $11.2m
Apple's ethnic emojis are being used to make racist comments on social media

Ethnic emojis used in racist comments

They were intended to promote harmony, but have achieved the opposite
Sir Kenneth Branagh interview: 'My bones are in the theatre'

Sir Kenneth Branagh: 'My bones are in the theatre'

The actor-turned-director’s new company will stage five plays from October – including works by Shakespeare and John Osborne
The sloth is now the face (and furry body) of three big advertising campaigns

The sloth is the face of three ad campaigns

Priya Elan discovers why slow and sleepy wins the race for brands in need of a new image
How to run a restaurant: As two newbies discovered, there's more to it than good food

How to run a restaurant

As two newbies discovered, there's more to it than good food
Record Store Day: Remembering an era when buying and selling discs were labours of love

Record Store Day: The vinyl countdown

For Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
Usher, Mary J Blige and Will.i.am to give free concert as part of the Global Poverty Project

Mary J Blige and Will.i.am to give free concert

The concert in Washington is part of the Global Citizen project, which aims to encourage young people to donate to charity
10 best tote bags

Accessorise with a stylish shopper this spring: 10 best tote bags

We find carriers with room for all your essentials (and a bit more)
Paul Scholes column: I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England

Paul Scholes column

I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England
Jessica Ennis-Hill: 'I just want to give it my best shot'

Jessica Ennis-Hill: 'I just want to give it my best shot'

The heptathlete has gone from the toast of the nation to being a sleep-deprived mum - but she’s ready to compete again. She just doesn't know how well she'll do...