Editor's note: Todd Benjamin is CNN's former financial editor.
London (CNN) – Now that we know who's won the election, the real uneasiness can begin. There's only one issue that matters to financial markets, and that's if President Obama and Congress can cut a deal on the looming budget crisis, the so called fiscal cliff. It refers to the $600 billion of tax hikes and spending cuts that are suppose to take effect on January 1.
Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. Here, CNN contributor and Millennial David Lloyd, with Jos van der Bij, a Dutch student doing an internship in London, write on the risks of mass unemployment.
(CNN) – Youth unemployment in the 1930s destabilized Germany and radicalized a resentful youth, propelling support for extremist parties.
The consequences are well known. Now, with European unemployment rising, we should be drawing on lessons from the past. It is nothing short of a tragedy that youth unemployment in both Greece and Spain has surged above the 50% mark.
To prevent a generation of young people being unable to find jobs and set themselves up with a secure future, it is essential to act now. The policy maker who does not heed the lessons of history is guilty of negligence on a massive scale.
Just like in the 1930s, when the Great Depression caused youth unemployment to hit the 50% levels in Germany, the current financial crisis is wreaking havoc on young people.
Farnborough, England (CNN) – You know you’re dealing with a busy executive when you have to interview them on their toilet break.
I grabbed a brief chat with Virgin boss Richard Branson on the sidelines of the Farnborough International Air Show, but only after he first dragged me to the bathroom.
“Follow me,” said Branson, after I approached him. With that he was striding urgently across the auditorium where he had just announced a new satellite launching venture for his Virgin Galactic space company.
Seconds later, we were outside the toilets. “Excuse me for a moment,” he said, diving inside.
A few awkward minutes later, Branson was back, looking somewhat relieved, if tired from a schedule that saw him fly in from Mexico only hours before attending the air show.
“Sorry… I’m just exhausted,” he confessed, stumbling on his first answer. Then he recovered his composure to outline dreams for his fledgling space exploration company that include putting a hotel into orbit.
Interview over, Branson declined the customary handshake, instead offering his little finger to shake by way of apology. “I’ve got a bit of a cold,” he said. “You don’t want to catch it.”
So at least he spared me a second indignity.
Editor's note: David Buik has spent almost 50 years in the City of London, as an investment banker and broker. He is a partner at BGC Partners and a frequent media commentator on financial matters.
CNN – He may be an octogenarian but anyone who underestimates Rupert Murdoch’s business cunning and prowess does so at his or her peril.
He is probably at his most dangerous when his back is against the wall.
I enjoyed his interrogation at the Leveson inquiry and he was in imperious form when being interviewed Wednesday in the U.S. on his plans and aspirations for his media and publishing enterprises. As the old expression goes: “There’s life in the old dog yet!”
"Uncle Ru" has been deeply and irrevocably in love with newspapers since he left his mother’s womb and under the watchful eye of his father, Sir Keith, he cut his teeth on all journalistic branding irons.
Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. Here, CNN contributor and Millennial David Lloyd – who in this week's episode is in the running for an innovation award - asks if foreign entrepreneurs are friend or foe.
(CNN) – There is a new talent war and it is global. But the battle to attract foreign entrepreneurs has put the differences between some countries under the microscope.
In the U.S., PayPal founder Peter Thiel is backing the construction of a ship which will host foreign entrepreneurs off California’s coast. This will keep them beyond the reach of America’s draconian immigration stance towards foreign wealth-creators.
Editor's note: Louise Cooper has twenty years experience in finance and business, starting her career at Goldman Sachs as a stock broker. She is currently at BGC Partners as a markets analyst.
London (CNN) – Eighty five pages of damning criticism of the Murdochs from the parliamentary committee investigating phone hacking at their newspaper empire were released Tuesday.
The organization's wish to "buy silence,” a “wilful ignorance” and “cover-up”: With such language the report found Rupert Murdoch "not a fit" person to lead a major international company. Murdoch, of course, part owns BSkyB.
This is not yet the view of the British media regulator Ofcom which said it was still "assessing evidence" on the matter. But in the meantime, where does this leave News Corporation's 39% ownership of BSkyB?
Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. In this episode, Joe Braidwood and his company, Swift Key, head to Barcelona for the 2012 Global Mobile Awards 2012 while David Lloyd, CNN contributor, writes on the attraction of Colombia from the Summit of the Americas. Follow The Millennials to find out how Lloyd's company, Intern Latin America, was recognized at the summit.
(CNN) – Buying real estate in Colombia is not the sort of thing that your local bank branch manager is likely to recommend. But to me it is a sensible, even prudent, macro-bet on a country which is the next star of Latin America.
Colombia now takes its place alongside an Asian tiger like Indonesia and the future giant of South Africa in the CIVETS group of rapidly growing emerging markets. It is the new darling of “smart money” which views it as the hidden gem of Latin America. Although it continues to suffer from out-of-date negative perceptions, its attractiveness is coming onto both the tourist and investor’s radars.
The negative perceptions that persist present opportunities. In Colombia’s modern and industrious second city, Medellin (where Hewlett Packard has just located its entire Latin American Headquarters), prime property is found for under $750 per square meter, with rental yields in excess of 10% commonplace. There are very few places in the world with statistics like this that share Colombia’s potential. I have just made a macro-bet on Colombia via a real estate purchase.
Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. In this guest blog, Millennial Joe Braidwood questions Facebook's $1 billion purchase of Instagram.
(CNN) - Yesterday Mark Zuckerberg casually penned 352 words on his Facebook Timeline to let the world know that he’d agreed to buy the popular photo-sharing app Instagram.
My first reaction was that this was a great move - photos are the most shared content on Facebook, and injecting some great engineering and vision into that part of their product portfolio, while also acquiring a big community of passionate users, makes perfect sense.
Then I read the price on VentureBeat - $1 billion in cash and stock. No, must be a typo. I checked TechCrunch. One billion. FULL POST
Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them. In this episode, Intern Latin America's David Lloyd comes to London and tests some potential new staffers while trainee actor Michael Burbach gets ready for the working world. In this guest blog, Michael explains why the theatre remains such an important art form.
New York (CNN) – “Ladies and gentlemen, the performance of [title of show] will begin shortly. Please turn off all cell phones and electronic devices. Thank you, and enjoy the show.”
The lights are dimmed, the first few notes from the orchestra are played, and the curtain is raised. I take a big, slow breath as the first moments of a Broadway show begin. Only the stage exists, time dissolves. I’m lost in the Magic of the Theatre.
Oh, wait. No. I’m still on earth. I’m reminded of this by the pinprick of light in my peripheral vision. My eyes unglue themselves from the actors to investigate the star amidst the sea of audience.
Davos, Switzerland (CNN) - The theme of this year’s World Economic Forum meeting in Davos is “the great transformation: shaping new models”. But this morning, at a WPP-organized breakfast about the world’s political outlook, it is the absence of a great transformation that is most clouding the world’s political outlook in 2012.
The breakfast, hosted with characteristic wit by WPP CEO Martin Sorrell, featured the political predictions of the American pollster Mark Penn and the British Labour Party impresario Peter Mandelson. But, in spite of the profound challenges to the global system, neither Penn nor Mandelson were able to conjure any great transformation in a world desperate for radical political reinvention.
The biggest party in America is “the no party,” Penn explained. The American electorate, he went on, is “fed up,” “angry” and “deeply pessimistic” about the future of the country. And yet, in spite of all this dissatisfaction, Penn sees the Republican primary race as a “circus,” is not optimistic about a third party candidate (unless Newt Gingrich unexpectedly wins the nomination,) sees little hope for a solution to the American budget crisis and expects Obama to be reelected in 2012.
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