Big business backs Cameron's EU push, Fed to bolster stress tests and Britain's Atlantis

Technology Eye | Feb. 22, 2016

The bosses of about half of Britain’s 100 biggest companies are to sign a letter backing David Cameron in his fight to keep the country in the EU in the referendum in June that will shape the future of the UK .

The barrage of business support will come as some relief to Mr Cameron after London mayor Boris Johnson on Sunday declared his support for a British exit . (FT)

In the news:

HSBC cuts pay for top staff

The British bank has become the latest big European lender to cut pay, slashing pension payments to top executives by 40 per cent after pressure from investors . On Monday, the bank announced a surprise fourth-quarter pretax loss of $858m . (FT, Bloomberg)

Bush departs with a whimper

A year ago the runaway favourite for the Republican presidential nomination, Jeb Bush abandoned his bid for the White House over the weekend following a thrashing at the hands of Donald Trump in the South Carolina primary . GOP elders must now decide if they should embrace Mr Trump — who has been decried as a racist demagogue — or unite against him . Sign up for our daily US politics email here . (FT, NYT)

Fed to bolster stress tests

The biggest US banks are bracing for a tougher round of stress tests from the Federal Reserve, which could crimp their plans for higher dividends and share buybacks . (FT)

Missing Iraqi radioactive material found

The material, which had gone missing and sparked fears that it had fallen into the hands of Isis, was found near a petrol station in the southern town of Zubair. (Reuters)

StanChart accused over $100m African ‘dirty debt’

The bank bought the debt and used it to demand compensation from an African government despite knowing that the loan had been part of a multimillion-pound embezzlement scheme, according to claims in a legal battle. (FT)

US agreed to North Korea peace talks

Days before Pyongyang’s latest nuclear test, the Obama administration secretly agreed to talks to try to formally end the Korean war, dropping a longstanding condition that North Korea first take steps to curtail its nuclear arsenal. The news comes as Japan and China prepare to hold their first bilateral meeting later this month since Pyongyang conducted a nuclear test in January. (WSJ, NAR)

It’s a big day for:

David Cameron

The British prime minister is likely to address parliament after he secured renegotiated EU membership terms — which Wolfgang Munchau argues will create a two-tier Europe — amid scepticism within his party. (FT)

Food for thought:

Messy desk, clear mind

It is the subject of boundless debate: what does the state of your desk say about you? And are there any benefits to clutter over cleanliness? The current trend towards paperless workspaces and hot-desking means a tidy desk is prized over a messy one , writes Emma De Vita, but messiness can nudge people into creativity. (FT)

Ireland: Escaping from the past

In Friday’s general election, Sinn Fein is expected to make landmark gains. The party has emerged from pariah status over the past 20 years to become the most radical and distinctive force in the country’s politics. Still, its controversial past could limit its success. (FT)

Britain’s Atlantis

Evidence of violent storms that destroyed a lost town known as Britain’s Atlantis has been uncovered.The finds were uncovered off the coast of Dunwich, Suffolk — a small village, which in the 11th Century was one of the largest towns in England . (BBC)

The corporate quest for higher purpose

Ever since the US tech giants began promising to “empower” and “make the world more open”, corporate self-importance has been rampant. And it’s bogus, unnecessary and dreary , writes the FT’s Lucy Kellaway. (FT)

The four types of sleep schedules

Are you a “night owl” or a “morning lark”? You could be neither. New research suggests there are actually four types of sleep patterns. There are some people who feel energetic in both the mornings and evenings, while there are others who feel lethargic all day . (The Altantic)

Video of the day:

Branson’s space rocket gets serious

When Sir Richard Branson went to California’s Mojave desert to unveil a new rocket he displayed some of his trademark ebullience, but, as Robert Wright discovers, in other ways Virgin Galactic’s business is becoming more serious . (FT)

SOURCE: World Economic Forum

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