Kim Kyung Hoon/Reuters Seiichiro Nishimoto, CEO of Shelter Co., poses wearing a gas mask at a model room for the company’s nuclear shelters in the basement of his house in Osaka, Japan. A rising number of American billionaires are channeling their inner Bear Grylls, and some are doing it in preparation for an apocalyptic event — […]

Reuters/Lucas Jackson LONDON — Jes Staley, CEO of Barclays, said that determining the future role of the City of London after Brexit will be long and difficult process, and warned of tough times ahead. Speaking on a panel alongside HSBC chairman Douglas Flint at the Prosperity UK conference in London on Wednesday, Staley told an […]

REUTERS/Radu Sigheti Diabetes educator Cornelia Cristofor teaches how to perform a blood sugar test at the Nicolae Paulescu National Institute for Diabetes, Nutrition and Metabolic Diseases in Bucharest. LONDON — A South African insurance technology company supported by Warren Buffett’s Berkshire Hathaway is launching a life insurance product for diabetics in the UK. AllLife has […]

Yui Mok/PA Archive/PA Images A model on the catwalk during the Jaeger London spring / summer 2012 show at London Fashion Week at Somerset House, London. LONDON — Fashion brand Jaeger has begun administration proceedings, according to reports, putting up to 700 jobs at risk. Industry magazine Drapers reported on Friday that Jaeger filed a […]

LONDON — “It is still possible to pretend that Brexit hasn’t happened,” UBS analysts wrote in a recent note. “We think that this will change in the coming year.” The investment bank is predicting a crunch year for clothing retailers as Brexit-driven inflation begins to hit people in their wallets. In its latest “Evidence Lab” […]

Revolut Revolut cofounder and CEO Nikolay Storonsky. LONDON — Fast-growing fintech startup Revolut has announced plans to raise £4 million through crowdfunding at some point later this year, using the announcement as an opportunity to promote its new “Premium” product. Revolut announced on Thursday that it plans to raise the sum through the Seedrs crowdfunding […]

Boeing The US government may have banned passengers from bringing any electronic device larger than a cell phone on board certain flights to and from the Middle East and Africa. However, no one is really sure what’s going on. On Monday, Royal Jordanian Airlines tweeted an extensive description of an electronics ban implemented by the US Government. But, the […]

WeWork WeWork. Japan’s SoftBank Group Corp is close to finalizing an investment in U.S. office-sharing startup WeWork in a deal expected to be worth over $ 3 billion, CNBC reported on Sunday. The investment under discussion is a $ 2 billion primary tranche of funding, followed by a secondary round worth more than $ 1 […]

A high-profile hedge fund founded by a Steve Cohen acolyte sent a letter to investors explaining all the reasons for its underperformance. In a January investor letter, Folger Hill’s Sol Kumin set out why his firm’s flagship fund dropped 17.5% last year. Among the cited reasons: a difficult environment for stock pickers, hedge fund “crowding” and the […]