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Stephen Foley

Stephen Foley is Associate Business Editor of The Independent, based in New York. In a decade at the paper, he has covered personal finance, the UK stock market and the pharmaceuticals industry, and been the Business section's share tipster. And since arriving with three suitcases in Manhattan in January 2006, he has witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.

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Goldman Sachs just got hit where it really hurts

Every way you look at it, the fraud charges laid against Goldman Sachs are devastating for the investment bank.
While the public took up pitchforks against the company, and the media labelled it a "vampire squid wrapped around the face of humanity", Goldman maintained that its reputation with clients – the reputation that really matters – has [...]

By | The Foreign Desk | Friday, 16 April 2010 at 11:20 pm

Crisis inquiry will not find smoking gun

The chairman of the US commission of inquiry into the financial crisis complains that $8m is far too little money for an investigation of this size and scope. He's right – but thank goodness he wasn't given any more. On the evidence of the past few days, it is clear that $8m is going down [...]

By | The Foreign Desk | Sunday, 11 April 2010 at 6:36 pm

It’s time to fight for net neutrality

This hasn't been the best few days for those of us who think that internet users should be guaranteed equal access to the information superhighway. The principle of net neutrality means no "fast lanes" for corporations, who want to pay more so that their video content can be allowed to overtake that of smaller bloggers [...]

By | The Foreign Desk | Sunday, 11 April 2010 at 6:29 pm

Is 300,000 iPads a lot or a little?

Even the iPad's biggest cheerleaders can't decide if the launch has been a soaraway success – or a terrible disappointment.
This is The Wall Street Journal website's headline when the number came out mid-morning on Monday:
 
Apple Sells 300,000 iPads on First Day
Apple said it sold roughly 300,000 iPads in the U.S., including preorders, on the first [...]

By | The Foreign Desk | Tuesday, 6 April 2010 at 4:41 am

Doctor Who knows no borders

I would have been quite happy to cut a cheque for £145.50 this week. Or $222.60, for that matter. The BBC is always on the list when expat conversation turns to what we miss about the Old Country, and you find few dissenters on the value-for-money Brits get from the licence fee. Maybe we should [...]

By | The Foreign Desk | Saturday, 3 April 2010 at 6:07 pm

Big Pharma dodges most of the bullets

Barack Obama's gruelling battle to overhaul the healthcare system of the US sprayed gunshot in every direction, but something remarkable is visible as the smoke clears on the political killing fields: the drug industry dodged most all of the bullets. Shareholders in the likes of GlaxoSmithKline and AstraZeneca can breathe easy – for now.
If there [...]

By | The Foreign Desk | Monday, 29 March 2010 at 3:43 am

The sound of iPads smashing

By this time next week, we over this side of the pond will be able to get our hands on the Apple iPad. My hunch is that a lot of them will get smashed. It looks fiddly to handle, easy to drop. And I think a few people will get so frustrated it can only [...]

By | The Foreign Desk | Saturday, 27 March 2010 at 1:51 am

Newspapers: “Rumours of our death are greatly exaggerated”

Is advertising on the side of buses really the answer to the collapse of the newspaper industry's business model?
The New York Press Association, the 157-year-old trade body representing 750 newspapers in New York state, thinks that it is. The association is launching what it calls a "comprehensive perception management and new literacy campaign to dispel myths [...]

By | The Foreign Desk | Friday, 26 March 2010 at 7:02 pm

For the wrong answers, turn to Greenspan

It is always worth listening to Alan Greenspan, but not any longer for the same reasons we used to. The former US Federal Reserve chairman, the wizened wiseman of laissez-faire economics, shocked us all – and probably himself – when he told a congressional panel in 2008 that he had found "a flaw in the [...]

By | The Foreign Desk | Sunday, 21 March 2010 at 10:52 pm

Zero hope for Palm suitors

You know something has gone disastrously wrong when analysts start putting a $0 price target on the company's shares. So it is at Palm, which once seemed to hold the world of mobile devices in the, er, palm of its hand, but which now finds itself an also-ran in the world of souped-up phones.
Trampled [...]

By | The Foreign Desk | Sunday, 21 March 2010 at 3:11 am

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