Bear Stearns

$50bn hole appears in New York financial markets – Fed is “looking into it”

Most people would quickly notice if $50 went missing from their purse or wallet. They would certainly notice if $50k suddenly disappeared from their bank account. But a fortnight ago, it took the New York Federal Reserve more than a day to notice that $50bn was missing from the money markets it was supposed to

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The €2bn WiFi company that wasn’t

Blog readers often travel a lot.  And they certainly use WiFi.  So here’s a question: Q.  Do you ever remember using a WiFi service called Gowex? A.  Lots of puzzled looks in response Q.   Not sure?  You think it might be vaguely familiar, but maybe not.  Well this is what the company’s website says: “Your […]

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