How renewable energy may be Edison’s revenge
LONDON, Dec 20 (Reuters) – At the start of the 20th
century, inventors Thomas Alva Edison and Nikola Tesla clashed
in the “war of the currents”. To highlight the dangers of his
rival’s system, Edison even electrocuted an elephant. The animal
died in vain; it was Tesla’s system and not Edison’s that took
off. But today, helped by technological advances and the need to
conserve energy, Edison may finally get his revenge.
The American inventor, who made the incandescent light bulb
viable for the mass market, also built the world’s first
electrical distribution system, in New York, using “direct
current” electricity. DC’s disadvantage was that it couldn’t
carry power beyond a few blocks. His Serbian-born rival Tesla,
who at one stage worked with Edison, figured out how to send
“alternating current” through transformers to enable it to step
up the voltage for transmission over longer distances.
Inside “secrecy jurisdictions”
LONDON (Reuters) – Alberto Micalizzi, the economics professor whose hedge fund collapse is the subject of a Reuters investigation, based his company in London but registered its funds in the Cayman Islands, one of the world’s favorite places for the seriously wealthy to park their money. According to Nicholas Shaxson, a journalist and researcher for the Tax Justice Network, we ignore the Caymans and other financial playgrounds such as Jersey or Switzerland at our peril.
Shaxson’s book, “Treasure Islands,” published earlier this year, is a polemic that argues that the global web of 60 or so “secrecy jurisdictions” — including Delaware, Panama, Ireland, the City of London, the Netherlands, and Mauritius — hides several trillion dollars, a vast criminal economy, and plenty of repression.
Special report: Has Murdoch’s bad apple spoiled the barrel?
LONDON (Reuters) – At the turn of the millennium, journalists at News International’s tabloids often lunched at The Old Rose pub in Wapping. It may not have been the most charming hostelry in London but it was better than the mineral water culture of the corporate canteen at headquarters. Crime reporters from The Times and seasoned hands nostalgic for the camaraderie of Fleet Street would occasionally join the tabloid hacks for a pint of beer or a glass of wine or four.
Even then, two decades after Rupert Murdoch’s purchase of The Times, that’s about as close as reporters from his tabloids and quality newspaper would mix. When they were finished, say two people who used to work for the company, reporters for The Times would head to a building on one side of the road, the tabloid reporters the other.
Has Murdoch’s bad apple spoiled the barrel?
LONDON, July 14 (Reuters) – At the turn of the millennium,
journalists at News International’s tabloids often lunched at
The Old Rose pub in Wapping. It may not have been the most
charming hostelry in London but it was better than the mineral
water culture of the corporate canteen at headquarters. Crime
reporters from The Times and seasoned hands nostalgic for the
camaraderie of Fleet Street would occasionally join the tabloid
hacks for a pint of beer or a glass of wine or four.
Even then, two decades after Rupert Murdoch’s purchase of
The Times, that’s about as close as reporters from his tabloids
and quality newspaper would mix. When they were finished, say
two people who used to work for the company, reporters for The
Times would head to a building on one side of the road, the
tabloid reporters the other.
Analysis – Murdoch and Britain: has “the music stopped?”
LONDON (Reuters) – “Let me declare my vested interests up front,” Rupert Murdoch said in a 2010 speech praising Margaret Thatcher’s years as Prime Minister. “I speak as more than an admirer of Margaret Thatcher. I speak as a person grateful for the opportunities this nation has given me — and the opportunities she has created for every other individual in Britain.”
Australian-born Murdoch did not mention the opportunities he has given Britain’s politicians. It’s become a rite of passage for leaders of Britain’s main political parties to cosy up to Murdoch while in opposition, in the hope that his newspapers help them win power. Thatcher, Tony Blair and David Cameron all received the Murdoch stamp of approval before they took office.
Murdoch and Britain: has “the music stopped?”
LONDON (Reuters) – “Let me declare my vested interests up front,” Rupert Murdoch said in a 2010 speech praising Margaret Thatcher’s years as Prime Minister. “I speak as more than an admirer of Margaret Thatcher. I speak as a person grateful for the opportunities this nation has given me — and the opportunities she has created for every other individual in Britain.”
Australian-born Murdoch did not mention the opportunities he has given Britain’s politicians. It’s become a rite of passage for leaders of Britain’s main political parties to cozy up to Murdoch while in opposition, in the hope that his newspapers help them win power. Thatcher, Tony Blair and David Cameron all received the Murdoch stamp of approval before they took office.
The Britain Obama won’t see
Security tops the agenda as Barack Obama visits Britain, with a tighter relationship on the cards between the United States and the UK:
“Ours is not just a special relationship, it is an essential relationship – for us and for the world,” Obama and British Prime Minister David Cameron said.
Why a Greek default wouldn’t be news
“From 1800 until well after World War Two, Greece found itself virtually in continual default,” write Carmen Reinhart and Kenneth Rogoff in “This Time Is Different” — it’s a point Nouriel Roubini underlines in our latest look at Europe’s mess, from Noah Barkin.
In other words, for Greece over the long term, default is more steady-state than news.
Greece’s unsteady privatisation
Scepticism in financial markets about how effective the EU bailout of Greece will prove has long been mounting . One reason is concern that the country cannot deliver on its privatisation schedule. We checked out Greek efforts to sell off real estate, which are supposed to make up the bulk of funds raised there, and found little doing.
A local mayor’s campaign to block the flagship Hellenikon airport project looks like building up into a major psychological battle. He’s used hunger strikes in his past campaigns, and appears to be morally fortified by the bust of Lenin that he keeps on his desk.
Exclusive: Cables give U.S. insight into Saudi succession
LONDON (Reuters) – The Saudi prince seen as most likely to accede may in office prove less conservative than his public image suggests, according to leaked U.S. diplomatic cables, which offer rare insights into the succession debate inside America’s ally and leading oil supplier.
The cables, obtained by WikiLeaks and reviewed by Reuters, run a close commentary on the rules and candidates to succeed King Abdullah, around 87, on the assumption that the current Crown Prince, who is slightly younger and also has health problems, would not remain king for long even if he takes the throne. The cables pre-date the king’s latest publicized illness.
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