How many people does it take to drive a driverless car? Five: a safety driver behind the wheel, an operator to program the route, and three engineers monitoring it in another car behind. It is, to be fair, barely even a prototype. The autonomous car unveiled in Milton Keynes last week is bleeding-edge engineering, Britain’s entry in a global race to get the first driverless car on the road. The converted Range Rover Sport can steer itself, speed up and slow down, stop at red lights and move off when…
Read MoreMonth: March 2018
Gambling Commission recommendations may have significant impact on punters
When the Gambling Commission published its long-awaited review of gaming machines and social responsibility measures last week, the final document ran to nearly 50,000 words. Yet the news reports and analysis that followed concentrated almost exclusively on a number, £30, which was taken by some at least to be the Commission’s recommendation for the new maximum stake on fixed-odds betting terminals (FOBTs). On closer inspection, it was no such thing. The recommendation was “£30 or less”, leaving the final decision to Matthew Hancock, the culture secretary, who is thought to…
Read MoreProtesters arrested in Belarus during opposition rally
Scores of people have been arrested in the Belarus capital, Minsk, as supporters of the country’s repressed opposition tried to hold a protest march. The attempted demonstration was to mark the 100th anniversary of the short-lived Belarusian People’s Republic of 1918-19, seen by the opposition as the foundation of an independent Belarus. The anniversary is traditionally a day for opponents of President Alexander Lukashenko’s authoritarian government to try to rally. Journalists at the scene counted at least 70 people taken away by police. The human rights group Viasna said five…
Read MoreBanks to remain closed for four days at Easter
Belgian banks will be closed for Easter from Friday, 30 March, to Monday, 2 April inclusive, the Belgian Federation of Banks, Febelfin, stated on Friday. However, electronic payment services will remain accessible. It will be possible to conduct online and mobile banking operations, carry out card payments and use automatic telling machines (ATMs). Febelfin advises consumers, however, to plan their wire transfers on time because no payments will be processed during the four days. “In some cases, that can mean that if you do your transfer on Thursday, the 29…
Read MoreLewis Hamilton accuses F1 of lacking diversity before Australian GP
Lewis Hamilton has accused Formula One of lacking diversity before the opening race of the new season in Melbourne. Shortly after appearing alongside Sebastian Vettel at the pre-race press conference, the 33-year-old posted a video on Instagram in which he suggested F1 should do more to encourage participation from a wider range of ethnic backgrounds. Hamilton is the sport’s first and only black driver. Alongside the video, he wrote: “There’s barely any diversity in F1. Still nothing’s changed in 11 years I’ve been here. Kids, people, there’s so many jobs…
Read MoreElon Musk wins approval for ‘staggering’ pay deal with potential $55bn bonus
Elon Musk, the billionaire founder of the electric car company Tesla, has won approval for a new pay deal that could land him a $55.8bn (£40bn) bonus, smashing all compensation records. Tesla’s shareholders voted to approve Musk’s pay deal at a meeting in Fremont, California, despite warnings from corporate governance experts who have called the package “staggering”. They have also questioned why someone whose wealth is already tied to Tesla’s fortunes needs more shares. In order to trigger the maximum payout Musk, 46, would have to build Tesla into a…
Read MoreNicolas Sarkozy denies ‘crazy, monstrous’ Libya funding allegations
The former French president Nicolas Sarkozy has denounced allegations that he received millions of euros in illegal election campaign funding from the regime of the late Libyan dictator Muammar Gaddafi as “crazy” and “monstrous”. “There is no proof … not even the slightest beginning of any proof,” Sarkozy told French TV after he was placed under formal investigation for illegal campaign financing, accepting bribes and the misappropriation of Libyan state funds over allegations that he received the illegal funding from Gaddafi for his election in 2007. “I have never betrayed…
Read MorePeru president Pedro Pablo Kuczynski resigns amid corruption scandal
eru’s president Pedro Pablo Kuczynski has offered his resignation after secret video recordings entangled him in a new corruption scandal on the eve of an impeachment vote, plunging one of Latin America’s steadiest economies into a political crisis. It was unclear if the opposition-controlled Congress would accept his resignation or proceed with a vote on Thursday to force him from office. In a televised message to the nation Kuczynski said he would offer his resignation to avoid being an “obstacle” to the country but continued to deny any wrongdoing. Just…
Read MoreCarpetright, Moss Bros, Kingfisher and New Look hit by retail woes
The gloom on the high street deepened on Wednesday as struggling Carpetright said it was set to close stores, Moss Bros issued a stark profits warning, B&Q reported falling sales, Mothercare said it remained in talks with its bankers and New Look’s creditors voted to slim down the struggling fashion retailer. Carpetright, Britain’s biggest carpet retailer, did not reveal how many outlets might shut, but it is believed to be considering axing up to a quarter of its 409 UK stores. A decision is expected in the next few weeks….
Read MoreFacebook shareholders may also want to quiz Mark Zuckerberg
Politicians and regulators won’t be the only people who want a word with Mark Zuckerberg. With Facebook’s shares sliding more than 10% since the data breach involving Cambridge Analytica, shareholders would probably also like to quiz their chief executive about how he has been running the firm. But what are outside investors’ chances of exerting real influence? What if, after a few more chapters in this saga, the majority owners of Facebook conclude the “catastrophic failure of process”, as one MP put it, is so damaging that a new boss…
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