Kirk Kerkorian

Financier who built a multibillion-dollar casino and hotel empire in Las Vegas

The American billionaire Kirk Kerkorian, who has died aged 98, made his money in the risky, impetuous business style that John Maynard Keynes called the “casino” economy. In Kerkorian’s case this was done literally – by building three vast hotel-casinos in Las Vegas. His interests also extended to airlines, film studios and motor manufacturers. Earlier in his career, wartime Britain had benefited from his fascination with aeroplanes and readiness to take a gamble.

He never made speeches, rarely attended board meetings and was often not even a board member of companies he bought and sold. Critics accused him of ruining the MGM film studio, and in his early days he had more than a nodding acquaintance with Las Vegas underworld figures.

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Slowdown in new car sales suggests UK economy may be losing a key driver

When 10%-plus is the norm, 2.4% year-on-year growth is like hitting the wall for an industry that has been one of the main props of Britain’s recovery

The growth in new car sales in the UK slowed to 2.4% year-on-year in May, according to industry figures. This would seem like a respectable figure if it was not for the double-digit growth that has characterised the last couple of years.

Car sales have boomed during the recovery. Like smartphone purchases and hotel bookings, the improving figures for the manufacture and sales of cars have been one of the main props of Britain’s post-crash boom.

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Jaguar Land Rover continues UK export success

Car manufacturer announces fifth year of growth and 5% increase in pre-tax profits, with 80% of vehicles sold abroad

Jaguar Land Rover has announced a 5% increase in pre-tax profits to £2.6bn, confirming the car maker as one of Britain’s biggest export successes.

The west Midlands-based company said it had sold more than 460,000 vehicles during the period, with more than eight out of 10 of those cars sold abroad. China is JLR’s biggest market, followed by mainland Europe, the UK and north America.

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Google acknowledges its self-driving cars had 11 minor accidents

Company says all 11 accidents over the past six years since it began testing the technology were minor: ‘light damage, no injuries’

Google Inc revealed Monday that its self-driving cars had been in 11 minor traffic accidents since it began experimenting with the technology six years ago.

The company released the number after Associated Press reported that Google had notified the California Department of Motor Vehicles of three collisions involving its self-driving cars since September, when reporting all accidents became a legal requirement of permits for the tests on public roads.

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Recession rich: Britain’s wealthiest double net worth since crisis

Richest 1,000 families control total of £547bn, rising by more than 112% since 2009, and own more than poorest 40% of British households

Britain’s billionaires have seen their net worth more than double since the recession, with the richest 1,000 families now controlling a total of £547bn.

While average UK incomes have yet to recover from the worst economic crisis since the Great Depression, with thousands still flocking to food banks, the financial elite have emerged not only with their fortunes intact, but holding a larger than ever slice of the cake.

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Recession rich: Britain’s wealthiest double net worth since crisis

Richest 1,000 families control total of £547bn, rising by more than 112% since 2009, and own more than poorest 40% of British households

Britain’s billionaires have seen their net worth more than double since the recession, with the richest 1,000 families now controlling a total of £547bn.

While average UK incomes have yet to recover from the worst economic crisis since the Great Depression, with thousands still flocking to food banks, the financial elite have emerged not only with their fortunes intact, but holding a larger than ever slice of the cake.

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Taxis! Black cabs jobs boost for Coventry

Around 1,000 extra jobs planned at new London Taxi Company factory as Chinese owner embarks on ambitious plan to export new low-emission cabs

Up to a thousand new jobs are planned at a new black cab plant in Coventry following a £250m investment by the London Taxi Company’s Chinese owner, Geely.

It will be home to the company’s research, development and assembly operations, including the development of electric and ultra-low emission black cabs.

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Taxis! Black cabs jobs boost for Coventry

Around 1,000 extra jobs planned at new London Taxi Company factory as Chinese owner embarks on ambitious plan to export new low-emission cabs

Up to a thousand new jobs are planned at a new black cab plant in Coventry following a £250m investment by the London Taxi Company’s Chinese owner, Geely.

It will be home to the company’s research, development and assembly operations, including the development of electric and ultra-low emission black cabs.

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