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HSBC faces protests at AGM over investments in arms companies supplying Israeli government

Campaign groups demand bank divest from companies they say supply arms used for violence against Palestinians
HSBC faced protests at its annual general meeting on Friday from activists highlighting the bank’s investments in companies which supply Israel with weapons.
Campaign groups War on Want, the Palestinian Solidarity Campaign and Children international protested outside the shareholder event in Westminster, demanding that the UK’s largest lender divests from arms companies including Boeing, BAE Systems and Elbit Systems.
They say the defence companies have sold arms used for violence against Palestinians, including extrajudicial executions, attacks on unarmed protesters and house demolitions.
Read more Corbyn condemns Western 'silence' on Israel’s killing of Palestinians According to War on Want’s research, HSBC holds £831m worth of shares in, and is involved in syndicated loans worth at least £19.3bn to, companies that sell weapons and military equipment to the I..

US regulators hit Wells Fargo with $1bn fine

It is the latest scandal to hit the 170-year-old bank
A leading US bank is to pay $1bn – the largest fine imposed since Donald Trump became president – as punishment for selling customers car insurance they did not need and charging them unnecessary mortgage fees.
In the latest in a series of scandals to hit the country’s third-largest bank, Wells Fargo will pay the sum as part of a settlement agreed with the Consumer Financial Protection Bureau (CFPB). However, none of the money will go to the victims of the bank’s actions.
According to the deal that was reached, the San Fransisco-based bank, which was founded in 1852, will pay $500m each to the CFPB and the Office of the Comptroller of the Currency. The fine is the first imposed by the bureau under Mick Mulvaney, who Mr Trump appointed to take over the consumer watchdog agency in last November.
World news in pictures 50 show all World news in pictures 1/50 19 April 2018 Outgoing Cuban President Raul Castro raising the arm of Cub..

The Saturday Profile: Long Before Cambridge Analytica, a Belief in the ‘Power of the Subliminal’

Long Before Cambridge Analytica, a Belief in the ‘Power of the Subliminal’ Photo The offices of SCL Group in London. Its founder, Nigel Oakes, has stayed studiously in the background. Credit Andy Rain/EPA, via Shutterstock LONDON — Nearly three decades ago, an ambitious young London advertising executive named Nigel Oakes fell out with his partners, two psychologists, over a central claim of his new business: That using the tools of social science, he could plant motivations in a person’s brain without their knowledge, prompting them to behave as a client wished.
The psychologists considered his claims unscientific, and severed the relationship. “He wanted to exaggerate what was possible to do using psychology,” said Barrie Gunter, one of the pyschologists. Adrian Furnham, the other, said Mr. Oakes was convinced of “that mystical, incredible power of the subliminal.”
For years, Mr. Oakes kept trying, convinced he was on to something. But there was no breakthrough until the United State..

Bits: Kevin’s Week in Tech: Jeff Bezos Reminds Tech Who’s Boss

Kevin’s Week in Tech: Jeff Bezos Reminds Tech Who’s Boss Photo Jeff Bezos, the chief executive of Amazon, released a letter to shareholders that included big numbers: 560,000 employees and more than 100 million Prime members. A smaller one: a median worker salary of $28,446. Credit Amy Harris/Invision, via Associated Press Each week, Kevin Roose, technology columnist at The New York Times, discusses developments in the tech industry, offering analysis and maybe a joke or two. Want this newsletter in your inbox? Sign up here.
Hello again! I’m finally getting back to a somewhat normal existence after last week’s Facebookpalooza. I even filed my taxes with several hours to spare, which is a first for me.
This week, as Mark Zuckerberg presumably took a very long nap, we heard from another tech billionaire — Jeff Bezos, the chief executive of Amazon, whose empire (and net worth) makes Mr. Zuckerberg’s look relatively modest.
Every year, Mr. Bezos’ shareholder letter is treated by many Amazo..

Nissan to cut hundreds of jobs at Sunderland plant as demand for diesel cars plummets

It comes just days after Jaguar Land Rover cut 1,000 agency staff jobs
Nissan is cutting hundreds of jobs at its Sunderland plant, citing plummeting demand for diesel cars after an emissions scandal.
It comes just days after Jaguar Land Rover cut 1,000 agency staff jobs, blaming continued difficult trading conditions in the car market.
A spokesperson for Nissan said: “As previously communicated, we are transitioning to a new range of powertrains over the next year.
“As we make the operational changes required to support this, we will be managing a planned short-term reduction in powertrain supply and plant volumes at NMUK in line with our 2018 Business Plan. We are now discussing these operational changes with our employees.”
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G.E. Earnings Show Some Signs of a Turnaround

G.E. Earnings Show Some Signs of a Turnaround Photo A gas turbine under construction at a G.E. plant n in Belfort, France. Despite signs of a turnaround in G.E.’s earnings, its turbine business remains weak. Credit Vincent Kessler/Reuters General Electric reported a first-quarter loss on Friday, but there were also signs that the struggling industrial giant is beginning to stabilize its business.
G.E.’s big power-generator division continues to drag down the company’s overall performance, and it is still hampered by financial liabilities that linger from the conglomerate’s pared-back finance arm, GE Capital.
But a number of G.E.’s industrial divisions delivered solid results in the quarter including aviation, health care, renewable energy and transportation. That should provide some assurance to investors as the company charts a future more dependent on its industrial lines.
John Flannery, the company’s chief executive, said the quarterly results were “a step forward” for G.E., with im..

Scottish Power hikes gas and electricity bills for nearly 1 million customers

Typical household on a dual-fuel bill on standard tariff will rise by £63 to £1,211
Scottish Power is hiking gas and electricity prices by 5.5 per cent on 1 June, the company announced on Friday.
The cost for a typical household on a dual-fuel standard tariff will rise by £63 to £1,211.
The rise will affect a third of Scottish Power’s customers, around 960,000 households. Those on fixed tariffs will not see their bills increase, the company said.
Read more British Gas announces 5.5% price hike, affecting 4.1m UK households Scottish Power blamed the increase on rising wholesale gas and electricity prices compulsory costs such as upgrading meters.
It becomes the latest energy supplier to hit customers with higher bills after EDF Energy announced last week that it would raising the prices by 1.4 per cent, for 1.3 million households from June.
The energy provider said it would increase its standard variable electricity tariff by £16 a year, taking the dual fuel cost for an averag..