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Randall Lane left his job last month after accepting money from founder of firm that does business with magazineThe top editor of Forbes left his job last month and was reportedly dismissed for accepting $6m from the founder of a firm that does business with the magazine.The New York Times reported this week that Randall Lane was paid by RJ Shook, whose company, Shook Research, worked with Forbes since 2016 to publish rankings of wealth advisers. The payment was made after Shook sold a

Tech billionaire’s $158.3bn deal an outlier in report showing widening gap of CEO to worker pay at top companiesElon Musk received over 2.5m times as much compensation at Tesla as the company’s average worker, according to a new report on the growing gap between top corporate executives and their workers.Musk’s $158.3bn pay deal was an outlier but came as the gap between CEO and worker pay continued to grow. Excluding Musk, last year the average ratio of CEO to worker pay for the top S

Weaker growth, rising energy costs and persistent inflation mean Britain could face tougher times in the autumnUK economic growth slows downBusiness live – latest updatesIn the spring the International Monetary Fund warned Britain faced the heaviest economic blow from the Iran war among the world’s most advanced nations. Almost six months into the conflict, on the surface, the UK appears to be proving the forecasters wrong.The latest official figures show the UK maintained its pole pos

Exhibition in Port Talbot is part of project exploring how communities experience endings and transitionsMargaret Heggett, 95, does not remember a time when Port Talbot was ever quiet. Born and raised in the shadow of the steelworks, with a father, brother and husband who worked there, she never imagined what the town could look or sound like without its blast furnaces.“I’m not saying it was beautiful, but there were jobs. We did know the closure was coming and we have to move with the

Banks should factor in the time spent by humans checking invented facts, writes Dr Gleb TsipurskyYour report (Lloyds Bank to cut £2bn in costs as part of AI-powered strategy, 30 July) raises a question that financial targets alone cannot answer: who absorbs the work when automati

Iconic characters and memorable scenes from back catalogue made available to group of creator fansThe likes of Darth Vader, Spider-Man and Moana are about to become TikTok stars for the first time – at least now on an official basis – after Walt Disney struck a “first of its kind” deal with the booming short-video platform.In an acknowledgment of the influence fan-made content now has in the entertainment industry, a select group of creators will be allowed to use iconic characters and

Company posts $7.81bn in revenue, a jump of 92%, after share prices crashed following IPO debutFor the first time since SpaceX went public, the world is getting a first-hand look into the trillion-dollar corporation’s financials. The Elon Musk-run business reported its second-quarter earnings on Tuesday, saying that its revenue jumped 92% since June.SpaceX beat Wall Street expectations, reporting $7.81bn in revenue, versus analysts’ predictions of $6.93bn. While expansive, the company

S&P 500 shot up 1.8% and the main measure of Wall Street’s health topped its prior all-time high set a few months agoThe US stock market rallied to records on Tuesday as profits kept piling up for companies and as oil prices eased.The S&P 500 shot up 1.8%, and the main measure of Wall Street’s health topped its prior all-time high set a couple months ago. The Dow Jones industrial average added 907 points, or 1.7%, to its own record set the day before, while the Nasdaq composite

Fining errant corporations is welcome – but when consumers are also getting shaken down on their local high street, it’s time for a new and boisterous approachIt’s a story that warms the heart and lifts the soul: last week, Virgin Media was fined a record £28m by Ofcom for repeatedly preventing customers from cancelling their contracts. Its methods were insidious: deliberate call-dropping, unnecessary call transfers and constantly putting customers on hold. For anyone who has experienc

In the UK, these scams have become an epidemic, rising 147% between January and March, compared with the same time last year. Why are they suddenly so common? And what can you do if you’re charged thousands for a quick, easy job?Sarah was alone in her flat with her three-month-old baby when a man put a card machine in her face and demanded she pay £2,209. A few hours earlier Sarah, 30, had been for a walk with her daughter when it dawned on her that she had left her keys at home. She d

Country risks new tariffs from US and EU as it looks likely to match or beat last year’s record surplus of $1tnBusiness live – latest updatesChina’s monthly car ‌exports topped 1m for the first time in June as overall overseas shipments from the world’s second biggest economy rose 27%.Official Chinese customs data showed that a stronger-than-expected trade performance kept China on track to match or beat last year’s record trade surplus of $1tn (£748bn), achieved despite Donald Trump’s

I’ve been asked to put away the dog bed – and even my shower gel. Surely prospective buyers should know that I’ll take all my mess with me when I leaveTrying to sell a house is pretty much a once-a-decade event for me, so I shouldn’t be surprised that times have changed. When I sold my first flat in 2006, the norm was actively anti-tidy. Obviously you’d spirit away food waste and animal detritus, maybe you’d put a lid on your laundry basket, but the market was overheated; everything wa