PITY America’s big businesses. For years their efforts to reduce their carbon footprint were dismissed by environmentalists as “greenwashing”. Now, after months trying to persuade a supposedly pro-business new president, Donald Trump, of the merits of staying in the Paris climate accord, he practically laughed in their faces by withdrawing on June 1st.
IT IS easy to blame infrastructure when things go wrong, as they did on May 27th when British Airways (BA) grounded planes across the globe after a global IT systems crash. More than 1,200 flights, booked to carry over 75,000 passengers, were cancelled over three days; hundreds of thousands more miserable travellers had their trips ruined by delays, lost luggage and missed connections
OF LIFE’s two certainties, death cannot be dodged even by the well-to-do. Taxes are another matter. Quantifying quite how much they manage to keep from the taxman, however, has always been tricky
A FEW weeks ago Standard Financial, a bank with assets of just $488m and a mere nine branches, merged with Allegheny Valley Bancorp, a slightly smaller neighbour in the suburbs of Pittsburgh. The main reason for the deal, says Tim Zimmerman, Standard’s chief executive, was the rising cost of regulation—though competition from PNC, a $371bn colossus based in the city, also played a part. “Without the regulatory overreach…since the crisis,” Mr Zimmerman says, “we’d probably both have gone along on our own, I think.” Standard is one of America’s 5,400 community banks: local lenders, funded chiefly by deposits, who pride themselves on knowing their turf by the inch and their customers by name
TAKE a moment to admire—and fear—the ascent of America’s big-five tech firms. Apple, Alphabet, Microsoft, Amazon and Facebook have recently become the five most valuable listed companies in the world, in that order
BRITISH AIRWAYS usually relishes the spring bank-holiday weekend, as families take advantage of the extended break to jet off somewhere pleasant.
THE rise of Netflix has been greeted frostily by some of the old guard at the Cannes film festival, where the American streaming giant’s disregard for releasing films in cinemas wins it few friends. It looked a bit more at home on May 21st, as the lights went up at the Louis Lumière theatre. The stars of its own film, “The Meyerowitz Stories (New and Selected)”, a comedy drama, accepted a standing ovation from the audience
BUILD a better mousetrap, the saying goes, and the world will beat a path to your door. Find a way to beat the stockmarket and they will construct a high-speed railway.
UNTIL recently “Uber envy” afflicted many top executives at Airbnb, a platform for booking overnight stays in other people’s homes.
Read the original … Correction: The world this year