Mergers are notorious for producing bad returns for investors. Another example of this has emerged today with Hewlett-Packard writing off $5bn in its latest accounts from its 2011 merger with Autonomy, a British technology and software company. HP are claiming accounting irregularities (fraud), which meant that it overvalued the company. Autonomy's founder, however, is claiming that HP simply destroyed value after the merger! You can read BBC and Guardian coverage here and here.
The Berkeley Earth Project , an independent study of global warming, has found that the earth has become a degree warmer over the past half century. However, the statistical uncertainty surrounding pre-1920 estimates makes it very hard to say much about long-term trends - click here for graph . This is one of my concerns with the global warming debate - we simply don't have trustworthy long-run data which looks at temperature changes over the last millennium (or two). My second concern with the global warming debate is that it is very hard to prove any sort of casual link between global warming and human activity. The scientists may be able to show correlation between global warming and our production of carbon dioxides etc., but correlation is not causation. My third concern with the debate is that those who are sceptical or agnostic are stereotyped as flat-earthers or intellectually-challenged crackpots. This only stifles debate and the progress of science itself.