National / International News

Officials begin arriving for Nato

BBC - Tue, 2014-09-02 07:28
Officials from around the world start arriving in Wales later for the Nato summit which starts in Newport on Thursday.

Eric Cantor gets a new job...on Wall Street

Marketplace - American Public Media - Tue, 2014-09-02 07:00

Former House Majority leader, Republican Eric Cantor, lost a June primary to a Tea Party conservative in a surprise upset. 

According to the Center for Responsive Politics, two thirds of former members of Congress end up in the lobbying business. Cantor, however, is doing something slightly different.

He will be vice chairman at boutique investment bank Moelis and Co. He will also be a managing director, and a member of its board. 

What, though, will he be doing?

“Strategic counsel,” according to the firm’s announcement. Cantor comes from a real estate law background, so he won’t be bringing a deep expertise in mergers and acquisitions, for example. But politicians do, it turns out, have skills.

“A politician is a very smart hire,” says Jeanne Branthover, managing partner with Boyden Global Executive Search. “Politicians are very strategic, they’re always looking into the future and looking at what should we do, what shouldn’t we do, what should our image be, our message, our brand."

A politician like Cantor also brings a Rolodex.

“When you think about an investment bank, so much of what they do is wealth and connections, and politicians are connected at very high levels and very important circles,” says Branthover.

“Money is a commodity, access and influence are not,” says Josh Crist, managing director at Crist Kolder Associates, an executive search firm. “Guys who have grown up on the investment side can access money, but may not be able to open the doors that a guy like Cantor can.”

So, for example, if Company A wants to expand by taking over Companies B and C, they might lean on Cantor to work any connections there.

“He’s seen C level, board level access for years given his fundraising responsibilities,” says Crist.

Cantor raised $1.4 million over the past two years, including $5,200 for his own campaign from his new boss, the founder of Moelis and Co, since April 2013.

Terror suspects held in Saudi Arabia

BBC - Tue, 2014-09-02 06:38
Saudi Arabia's interior ministry says it has arrested 88 people suspected of plotting attacks inside and outside the country.

VIDEO: Met Police sells London HQ for £250m

BBC - Tue, 2014-09-02 05:45
The Metropolitan Police has put a £250m price tag on its famous London headquarters, New Scotland Yard.

VIDEO: House of Commons

BBC - Tue, 2014-09-02 05:01
The government is urged to expedite its child abuse inquiry following the Rotherham scandal.

VIDEO: Locals divided on Heathrow expansion

BBC - Tue, 2014-09-02 04:35
Residents from the areas close to Heathrow airport have mixed views on the possibility of further expansion.

Is the UK unusually fond of lamb and potatoes?

BBC - Tue, 2014-09-02 04:27
The US ambassador to London is fed up of being served the dish. Do Britons have an exceptional taste for it?

VIDEO: 'A complete dereliction of duty'

BBC - Tue, 2014-09-02 04:24
Rotherham council, police and other agencies failed to protect vulnerable children, the Home Secretary says.

Day in pictures: 2 September 2014

BBC - Tue, 2014-09-02 03:58
News images from around the world: 2 September

IS accused of Iraq ethnic cleansing

BBC - Tue, 2014-09-02 03:22
Amnesty International says it has proof Islamic State militants have launched a campaign of ethnic cleansing against minorities in northern Iraq.

Afghan militants 'may join IS'

BBC - Tue, 2014-09-02 03:15
Fighters from a militant Islamic group in Afghanistan, allied to the Taliban, tell the BBC they are considering joining forces with Islamic State.

PODCAST: Facebook targets India

Marketplace - American Public Media - Tue, 2014-09-02 03:00

First up, there's a lot of data this week. The most recent indicator is the Small Business Jobs Index. It seems small business hiring has slowed slightly. Today, we talk about the prospects for economic growth as we head into the fall. And when Eric Cantor was in congress, he was well-liked on Wall Street. The former House Majority Leader raised a lot of money from folks in the financial services sector. Soon, he'll join their ranks. Plus, Facebook says eighty-one percent of its "daily active users" are outside the United States and Canada. The social media giant is huge in India. It has well over a hundred million users there. And, it's growing. India could surpass the U.S., as Facebook's top market as early as next year. As it focuses on expanding in emerging markets, Facebook has a new advertising tactic, and it involves the strength of cell phone signals

 

 

 

AUDIO: Is conflict good or bad for insurers?

BBC - Tue, 2014-09-02 02:57
Bronek Masojada, chief executive of the insurance company Hiscox, analyses the effect of recent conflicts on the insurance market

Uber banned across Germany by court

BBC - Tue, 2014-09-02 02:57
A court says the UberPop service must stop transporting passengers in Germany, but the American company refuses to suspend work.

VIDEO: David Mitchell on The Bone Clocks

BBC - Tue, 2014-09-02 02:51
Cloud Atlas author David Mitchell discusses his new novel The Bone Clocks on BBC Breakfast.

A cloud of uncertainty

BBC - Tue, 2014-09-02 02:40
How were leaked celebrity photos obtained?

VIDEO: Volcano continues fiery lava eruption

BBC - Tue, 2014-09-02 02:25
A dramatic lava eruption that began early on Sunday near Iceland's Bardarbunga volcano has continued into Monday.

Does limiting the power of appliances save energy?

BBC - Tue, 2014-09-02 02:20
The EU is considering limiting the power of hairdryers but will this really cut energy consumption?

Has the rise of the e-reader changed how we read?

Marketplace - American Public Media - Tue, 2014-09-02 02:00

All this week, Marketplace Tech is taking a closer look at technology and the ways in which it influences how we read.

Already, Marketplace Tech host Ben Johnson has spoken with Marketplace's LearningCurve reporter Adriene Hill on how tablets are being used in schools as education tools, and author Jason Boog about his new book, "Born Reading: Bringing Up Bookworms in a Digital Age." 

But how has technology changed the way adults read? Well, as you might expect, the answer is complicated. 

Click the media player above to hear Marketplace Morning Report guest host David Gura in conversation with Marketplace Tech host Ben Johnson.

The benefits of developing an Ebola vaccine

Marketplace - American Public Media - Tue, 2014-09-02 02:00

This week, the National Institutes of Health begins testing an Ebola vaccine in humans. Given the need to quickly stem the deadly outbreak in West Africa, global health officials hope to push a vaccine to market.

While there's currently a market for an Ebola vaccine, it’s small, and Ebola isn’t a disease that keeps popping up year-after-year. 

“It’s not all about economics,” says Dr. Carlos Del Rio, chair of the Department of Global Health at Emory University. He says developing the vaccine is also about building good PR for a company. “There’s a value to that publicity, right?”

Right, says Kenneth Kaitin, director of the Center for Drug Development at Tufts University. But Kaitin says there is also the potential for a huge payoff, especially for smaller companies. 

Think of it as a pharmaceutical version of “Cap and Trade.”

“A program that the FDA put in place several years ago gives a priority review voucher to any company developing a product for a neglected or tropical disease,” says Kaitin.

Ebola is a perfect exampleThat pharma company can sell the voucher to another drug maker. The “golden ticket” gets the purchaser a fast track to federal regulators for any other drug in its portfolio.

One voucher recently sold for more than $67 million.  

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