Stephen Friedman picked his moment to resign as the chairman of the New York Federal Reserve. If you want to minimise the headlines, what better moment to make an announcement than when the bank stress tests are disclosed?
Mr Friedman says he stayed on the NY Fed board despite Goldman becoming a bank holding company out of a sense of public duty, but his decision is “being mischaracterised as improper”. Read more
Perhaps I am missing something in Rupert Murdoch’s remarks about the Amazon Kindle, but he appears to be ignoring the facts on the ground.
Mr Murdoch, owner of newspapers including The Sun, The Times and The Wall Street Journal, expressed confidence News Corp could make money out of consumers’ appetite for reading news on mobile devices, but said he did not believe in the Kindle model. “I can assure you we will not be giving our content rights to the fine people who created the Kindle.”
It strikes me as foolish for Microsoft to attempt the sort of trick reported in the FT today with Windows 7, its new operating system:
Microsoft’s rivals claimed PC users who upgrading their machines to the new operating system have Microsoft’s own Internet Explore 8 set as their default browser, even if they were previously using a different company’s software.