NEW YORK – For the American economy – and for many other developed economies – the elephant in the room is the amount of money paid to bankers over the last five years. In the United States, the sum stands at an astounding $2.2 trillion for banks that have filings with the US Securities and Exchange Commission. Extrapolating over the coming decade, the numbers would approach $5 trillion, an amount vastly larger than what both President Barack Obama’s administration and his Republican opponents seem willing to cut from further government deficits.
Growing produce on your roof is a productive way to take advantage of the space, but is it possible to make it commercially viable on a larger scale? A new company's business model may show the way. New York-based BrightFarms, which builds rooftop greenhouses, hopes to turn a profit while cutting shoppers' "food miles" down to zero by growing vegetables where people buy them: the supermarket.
IT IS no exaggeration to say that the foundations of the modern globalised world were made of sugar. In the 15th century Europeans first encountered its sweet delights. Within a couple of hundred years the coming of sea power, and with it the means to create empires across the oceans, resulted in large tracts of land in South America and the Caribbean being seized. Much of it was used in the production of sugar, which was steadily evolving from being a scarce luxury to a daily necessity.
You might not think that there's much of a market for the six-volume, 2,438-page Modernist Cuisine, which costs £395 ($625), but you'd be wrong. The first print run sold out and a second is under way. The book is also being translated into French, German and Spanish.
George Soros's decision to step away from the hedge fund industry was greeted with lots discussion about the effect of Dodd-Frank on the industry. The general take was that the upcoming hedge fund registration requirement was onerous enough for him to transform his operations into a family office and relieve himself of the requirement. But it was likely more complex than that.
Apple cash on hand: $76 billion. US Treasury: $74 billion.
Apple cash now exceeds what the US government has left before it hits the debt limit. Apple cash level is higher even though government spends 10 times more than Apple is worth.
Corporate social responsibility may benefit society, but does it benefit the corporation?
Indeed it does, according to a new study that shows how CSR can make it easier for firms to secure financing for new projects.
George Serafeim and Beiting Cheng of Harvard Business School and Ioannis Ioannou of the London Business School conducted the research. Key concepts include: