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Sunday, October 19th 2014 - 07:39 UTC

The Royal Navy with more admirals than surface warships?

“Documents seen by the Mirror prove there are 14 more admirals than there are modern warships as defined by Parliament’s Defense Select Committee”.(Pic Daily Mirror)

London's Daily Mirror had taken on the Royal Navy arguing that the shrunken service now has nearly twice as many admirals as surface warships. In effect despite destroyers and frigates being cut to a paltry 19, the Senior Service still boasts 33 admirals on £100,000 a year.

Sunday, October 19th 2014 - 07:27 UTC

Yellen warns about the rich-poor gap in the US, at a near 100-year high

The Fed chief said that wide wealth disparities can make it harder for the poor to move up the income ladder

Federal Reserve chief Janet Yellen warned Friday that the gap between the rich and poor in the United States is widening and has reached a near 100-year high. In a speech at a conference on inequality in Boston, the Fed chair did not mention monetary policy nor the current turmoil in financial markets. Instead, she focused on the widening wealth disparity and how that impacts economic opportunity.

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