Investing and Global Finance News

Author Archives: Irwin Gold

Formula E Electric Cars Race Through Miami

The first Formula E electric car race took place in Miami last Saturday, showcasing the potential for more energy efficient vehicles.

"Spark-Renault SRT 01 E (Formula E)" by Smokeonthewater - Own work. Licensed under CC BY-SA 3.0 via Wikimedia Commons - http://commons.wikimedia.org/wiki/File:Spark-Renault_SRT_01_E_(Formula_E).JPG#/media/File:Spark-Renault_SRT_01_E_(Formula_E).JPG
“Spark-Renault SRT 01 E (Formula E)” by Smokeonthewater .Licensed under CC BY-SA 3.0 via Wikimedia Commons –

“Formula E will pioneer technology which will be used on normal road cars,” said Richard Branson, British entrepreneur and owner of the Virgin Racing team. “I hope 10 years from now the smell of exhausts from cars will be a thing of the past as much as the smell of cigarettes in restaurants.”

Branson’s Virgin Group sponsored a two-car team for the race.

Globally Miami is the fifth of an eventual ten cities that will host races for what will hopefully be the first of many years to come of Formula E racing championships. The cars that participate are low-slung, open-wheeled and fast, capable of up to 136 miles/hour.

The FIA, Federation Internationale de l’Automobile organizes these and Formula One races. They attract sponsors like tire manufacturer Michelin and delivery service company DHL. The hope is that large companies will help electric cars to develop into more mainstream vehicles.

“The technology improves unbelievably once these large companies start investing in research,” said Pier Luigi Ferrari, the managing director of DHL motorsports.

New Risk Manager Phelan Appointed by Treasury

The new position of chief risk officer created by the US Treasury Department will be filled by Kenneth Phelan. Phelan, who is 55 years old, has held similar roles for the Royal Bank of Scotland Group Plc and at Fannie Mae soon after the last US financial crisis. The newly created Office of Risk Management,… Continue Reading

US Consumers Getting More Gas for their Buck

Since May this year the price of gasoline has been taking a nosedive. During the interim seven months the average price of a gallon of gas as gone down by one dollar. According to the Lundberg survey released on Sunday, gasoline is at the lowest price it has been in four years. Regular-grade gasoline is… Continue Reading

Business About to Boom in Cannabis Industry

Last week’s midterm elections not only favored Republicans in overwhelming numbers, but also said yes to the continuing trend to liberalize marijuana laws. Two additional states joined Colorado and Washington in permitting recreational use of cannabis, along with an overwhelming vote in favor in Washington DC. As more states come aboard the weed wagon, it… Continue Reading

Economy Thawing as GDP Expands

Now that the long, cold winter is fading into the past, spring is bringing warmth as well as growth to the US economy. According to the government, the US economy saw 4.6 percent annualized growth during the 2nd quarter of 2014, compared to a 2.1 percent slowdown in the first quarter. Analysts expressed optimism that… Continue Reading

Survey Shows Businessmen Lax on On-line Security

According to a poll conducted by Swivel Secure, 74.2 percent of business owners either write down or otherwise record off-line their collection of passwords. That means that a vast majority of heads of companies have their passwords saved on post-it notes or Excel documents, perhaps not the best way to maintain security of websites. The… Continue Reading

Samsung’s Music Hub-USA to be Discontinued

Samsung announced that it will be closing its Spotify competitor, US-based subscription streaming music platform Music Hub. Lucky for people in Australia Samsung gave assurances that its ‘down-under’ version will remain in business. “Samsung Music Hub in Australia has been developed for this country and for Australian customers. It is a separate platform from other… Continue Reading

Business Travelers Today

Business travel today doesn’t have to include cramped accommodations and frustrating interactions in dark cafes and restaurants. Rather, the possibilities are truly endless for finding exactly what you’re looking for with either a boutique hotel or a private apartment. The benefits of the private apartment for business travel are endless. The business traveler has his… Continue Reading