(MENAFN - AFP) Britain needs a "radical" overhaul of its scandal-hit banks, with reckless bankers facing jail and bonuses deferred for up to ten years, a government commission set up after the Libor scandal proposed in a final report on Wednesday.

The Parliamentary Commission on Banking Standards, which is mostly composed of lawmakers, concluded that senior bankers must ...

(MENAFN - AFP) Facebook said Tuesday that more than a million businesses now advertise at the leading social network.

"I know business owners like these invest their hard-earned money and time into running their companies," Facebook's Dan Levy said in a blog post that referred to advertisers such as Singapore's Retail Ministry and retailer Springwools in Ireland.

"So ...

(MENAFN - AFP) If the young people of Brazil are in the street, it is no longer just to play football there, contrary to the popular image of a country fixated with 'futebol' to the point of obsession.

Instead, they are capitalising on the Confederations Cup to demonstrate en masse and voice their indignation as representatives of a dissatisfied middle class that has swelled ...

(MENAFN - AFP) If you have just seen a play that you privately think is drivel, will you keep silent when everyone around you demands an encore?

Possibly not, says an unusual investigation published Wednesday in the Journal of the Royal Society Interface.

Combining a psychological experiment and mathematical analysis, the research marks a scientific attempt to quantify ...

(MENAFN - AFP) Big accountancy Deloitte was fined $10 million by New York state on Tuesday for its actions in advising Standard Chartered Bank over money laundering.

Deloitte's unit Deloitte Financial Advisory Services was fined and also banned for one year from work in New York state after state authorities said it did not carry out its duties independently in advising ...

(MENAFN - AFP) Corporate raider Carl Icahn revamped his proposal Tuesday for embattled computer company Dell, calling for a big share buyback in a plan which would keep the company public.

Icahn, who has lambasted a go-private plan led by founder Michael Dell as undervaluing the company, said he and his investor allies would vote against that proposal and urged shareholders ...

(MENAFN - AFP) Tesla Motors said Thursday it would demonstrate a way to quickly recharge electric cars by swapping drained batteries for fresh power cells.

Tesla chief executive and founder Elon Musk used popular the messaging service Twitter to put out word that a "live pack swap demo" was taking place at the company's design studio in the Southern California city of ...

(MENAFN - AFP) Cypriot President Nicos Anastasiades has sharply criticised the terms imposed for a March debt bailout in a letter to eurozone leaders pleading for help in safeguarding the island's biggest lender.

In the leaked letter he sent last week, Anastasiades charged that eurozone leaders had treated the island unjustly in their concern to avoid further contagion ...

(MENAFN - AFP) Chrysler announced Tuesday that it would bow to the US safety regulator's pressure to recall 2.7 million Jeep Libertys and Jeep Grand Cherokees over a fire risk that caused dozens of deaths.

Two weeks after rejecting the National Highway Traffic Safety Administration's recommendation for a recall, the number-three US automaker said the two sides had "resolved ...