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Tag: chair

Climate change: Boris Johnson to chair new committee

Climate change: Boris Johnson to chair new committee

Science
The prime minister is to chair a new cabinet committee on climate change to drive action to cut emissions across the government.It follows long-standing criticism that some departments - especially transport - have failed to play their part in combating global heating.This sort of top-level co-ordination is what green groups have been urging, but they’re still critical of other policy details.Greenpeace, for instance, says it has spotted a huge loophole in the Environment Bill introduced this week. It aims to improve air and water quality, tackle plastic pollution and restore nature, once the UK leaves the EU’s environmental laws.A new regulator is being given powers to take the government to court if it fails to meet agreed green targets.But Greenpeace l
Musk out as Tesla chair, remains CEO in $40M SEC settlement

Musk out as Tesla chair, remains CEO in $40M SEC settlement

Technology
Tesla and its CEO Elon Musk have agreed to pay a total of $ 40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company. The settlement with the Securities and Exchange Commission allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years. Tesla must hire an independent chairman to oversee the company, something that should please a number of shareholders who have criticized Tesla's board for being too beholden to Musk. The deal was announced Saturday, just two days after SEC filed its case seeking to oust Musk as CEO. Musk, who has an estimated $ 20 billion fortune, and Tesla, a company that ended June with...
US Fed chair Jerome Powell backs cautious path on rates

US Fed chair Jerome Powell backs cautious path on rates

Business
The "consensus view" at the US Federal Reserve is that gradual interest rate rises remain the best policy, the head of the US central bank has said.Federal Reserve chair Jerome "Jay" Powell made the remarks at an annual economic conference in Wyoming.He said the difficulties of interpreting data suggest the wisdom of a conservative approach.However, he added, policymakers will act decisively in a crisis."I am confident that the [Fed] would resolutely 'do whatever it takes'," he said, according to a transcript of the speech at the Jackson Hole symposium.The Federal Reserve has been slowly raising rates since 2015, including two increases so far this year.Analysts expect one or two additional rate rises, with the next one anticipated at the bank's September...
Stobart picks broker amid bid to oust chair

Stobart picks broker amid bid to oust chair

Business
Stobart Group, the infrastructure conglomerate, will seek to restore order to its warring boardroom by announcing the appointment of a new City broker amid an attempt to oust its chairman. Sky News has learnt that the company, which has been hit by a rebellion led by former chief executive Andrew Tinkler, will say in the coming days that Canaccord Genuity is replacing Cenkos Securities in the role.The appointment of Canaccord will come soon after Stobart Group confirmed that investors holding approximately one-third of its shares were seeking to replace the current chairman with Philip Day, the billionaire owner of Edinburgh Woollen Mill (EWM).Cenkos resigned the brokership because of its long-standing relationship with Mr Tinkler and Woodford Investment Management, a major...
A billionaire hedge-fund manager and the Fed chair runner-up are investing in a new cryptocurrency

A billionaire hedge-fund manager and the Fed chair runner-up are investing in a new cryptocurrency

Finance
Billionaire Stanley Druckenmiller and Federal Reserve chair runner-up Kevin Warsh have invested in a cryptocurrency project called Basis, along with many other investors, the company said Wednesday.Bain Capital Ventures said it led the $ 133 million private placement, which was the private equity firm's first purchase of cryptocurrency tokens. Other investors included Alphabet's GV venture capital arm and Andreessen Horowitz.Formerly known as Basecoin, Basis is developing a cryptocurrency whose supply is controlled by an algorithm rather than a central bank. In contrast, bitcoin and most major cryptocurrencies have a fixed supply. Changes in demand can then send prices in wild swings.Basis' developers say such volatility has prevented mainstream adoption of cryptocurrencies and they want t...