Just this month, Warren Buffett announced plans to give away more than $2.6bn (£1.7bn) of stock in his Berkshire Hathaway conglomerate to charities, in the latest round of annual gifts since he outlined plans to give away most of his wealth in 2006. But now his son has publicly questioned the trend of big-ticket giving by the rich when the “existing structure of inequality” is left unchallenged.
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Thursday 10 March 2011
The Wall Street hedge fund giant Raj Rajaratnam "knew tomorrow's business news today", thanks to a network of high-level insider tipsters, a jury was told, as the largest insider trading trial in a generation got under way in Manhattan.
Thursday 03 March 2011
Tuesday 26 October 2010
Warren Buffett, who heads the beloved American conglomerate Berkshire Hathaway, has named an obscure 39-year-old hedge fund manager to oversee much of the company's money, making him the favourite to succeed the billionaire investment guru. For the past five years, Todd Combs has run a Connecticut hedge fund called Castle Point Capital, which withstood the financial crisis, despite investing almost solely in financial companies.
Thursday 21 October 2010
Revenge for the miserly licence fee settlement awarded to it by the Government? BBC News 24's live coverage of George Osborne's spending review statement in the Commons yesterday was interrupted by an inadvertent switch ofpictures back to the studio. The feed from Parliament was restored in time for Mr Osborne to formally announce the details of the BBC settlement, but it was hardly a respectful response.
Thursday 07 October 2010
Does the punishment fit the crime? When US hedge fundmanager Paul Greenwood pleaded guilty last month to defrauding clients, he no doubt expected the American courts to be tough with him. But even before the sentence is handed down, the pain has begun for Greenwood: he's been forced to auction his collection of 1,350 teddy bears, which until now have been displayed inpresentation cases at his home. Amazingly, the bears are thought to be worth £2m.
Sunday 26 September 2010
Friday 24 September 2010
The top of the list of US billionaires is still dominated by dynastic wealth, according to the latest annual survey by Forbes magazine, while 272 of the 400 richest Americans are self-made.
Thursday 23 September 2010
A taste of his own medicine for Ryanair boss Michael O'Leary. Financial News reports that Mr O'Leary got short shrift from the folk at hedge fund business Gradient Capital Partners, where he recently popped in for a visit. "No, you have to bring your own," was reportedly the response when Ryanair's cost-cutter extraordinaire asked whether he might be getting a biscuit with his cup of tea. Let's hope Gradient charged him to use its toilets too.
Wednesday 15 September 2010
Thursday 09 September 2010
Outlook The problems of Connaught have prompted warnings that many more companies may be pushed over the edge by public-sector spending cuts. But while the private sector inevitably will take a hit as the Government pares spending, to blame the demise of Connaught on austerity measures would be to let the company off the hook far too easily.
Monday 30 August 2010
Warren Buffett, "the Sage of Omaha" who turns 80 today, is one of the bidders seeking to buy Royal Bank of Scotland's Direct Line insurance business at a knock-down price. The European Union is forcing RBS, the state-controlled bank, to sell the division as punishment for taking public money during the financial crisis.
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