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Finance

Thanks to American oligarchy, Jensen Huang’s midlife crisis is a problem for all of us | Moira Donegan

At a time when individual men wield massive power, the ramifications of the Nvidia CEO’s affair could be enormous One of the reasons you want to distribute power and responsibility in powerful organizations and high-stakes enterprises is so that the narcissism or myopia of one man do not come to carry outsized consequences. When power is spread out across multiple people, it matters less if one of those people is prone to flattery, or in the midst of a midlife crisis, or perhaps just a bit stupid; the limits on his power become limits on the fallout of his character flaws. Continue reading...

The Guardian
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Finance

Metro Bank up for sale, with billionaire investor in line for £420m windfall

Shares up 7% after announcement as Jaime Gilinski Bacal seeks exit three years after helping to rescue bank Metro Bank is putting itself up for sale three years after its near-collapse, in a move that could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal. Metro Bank made the rare decision to publicly announce it was open to bids on Thursday, paving the way for a wider pool of suitors. The announcement pushed the share price up by 7% by mid-morning, valuing the bank at about £1.3bn. Continue reading...

The Guardian
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