Buddah Lineage

Euro Weekly News | Marbella-based British company named in nation-wide fraud | Costa del Sol | News | The Largest English Language Newspapers in Spain : "GUARDIA CIVIL are investigating a possible fraud which has affected parents with children in schools throughout Spain. A company based in Marbella, Forward Press (Europe) Ltd, organized a short story contest for young writers in schools all over the country. Diplomas were handed out to the winners. It then offered parents the chance of having their children’s stories published for just €13, something which hundreds agreed to. They paid via bank transfer or internet and should have received the books in September. However, so far no books have been published and Guardia Civil are encouraging parents to contact them and report the problem so they can prove the fraud. The Penal Code establishes that there is no crime if the quantities are less than €400, but if Guardia Civil can prove the fraud was ‘en masse’ something can b...

We oppose the EU by more than two-to-one; Europhiles claim we favour it 'in practice' – Telegraph Blogs: "Fabian Society has commissioned a survey of British attitudes to the EU. On his blog, the amiable Sunder Katwala summarises the findings as follows: “The British public are sceptical of the EU as an idea, yet rather in favour of having more of it in practice”. What? According to the survey, 45 per cent of us say EU membership has been bad for Britain, as against 22 per cent who say it has been good – a finding in line with recent polls. In what sense, then, do we want “more of it in practice”? Sunder infers his optimistic interpretation from replies suggesting that most of us want European states to collaborate with each other on climate change, fighting terrorism, stimulating economic growth and so on. But here’s the thing, Sunder, old chum: no one is arguing against international co-operation. The alternative to Brussels supranationalism is not autarky, but interg...

Hackers Attack Criminal Sites, Security Experts to Expose Security Flaws - Security - News & Reviews - eWeek.com: "group of hackers attacked and took offline several sites belonging to credit-card sharing groups, security experts and other hacking communities who made mistakes in basic security. Administrators of six Web sites woke up Christmas morning to discover their sites had been hacked, according to an online newsletter published by the hackers themselves on Dec. 25. In the second issue of 'Owned and Exposed,' the attackers listed carders.cc, ettercap, exploit-db, backtrack, inj3ct0r, and free-hack. While free-hack was taken down for being 'lame script kiddies,' the other sites had criminal ties or were security experts who 'fail so hard at security that we wonder why people really take their training courses,' according to the e-zine." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyri...

Banks attempt to censor student thesis - Gotta chip-and-pin on their shoulder | TechEye: "UK banking trade association has attempted to have a Cambridge University student's thesis censored because it documents a well-known flaw in the chip-and-pin system. Melanie Johnson of the UK Cards Association wrote to the University complaining that Omar Choudary's thesis, titled The Smart Card Detective:a hand-held EMV interceptor, gave away information about the 'No-Pin' vulnerability. This is despite the fact that the flaw was discovered last year by other Cambridge scientists and published last February - and has in any case recently been fixed. Johnson said that the association was worried that the department's work could undermine public confidence in the chip-and-pin system - which couldn't be allowed to pass, obviously. And she was bothered by the way Choudary tested the vulnerability by making a transaction in a local shop: 'Concern was expressed...

Khodorkovsky found guilty as protests mount against Putin and 'charade' trial | World news | The Guardian: "fate of oil tycoon Mikhail Khodorkovsky was left hanging in the balance today after a court in Moscow found him guilty of theft and money laundering in a politically tinged trial that is seen as a weathervane for Russia's future course. Viktor Danilkin, the trial judge, told the packed court that Khodorkovsky, 47, and his business partner, Platon Lebedev, 54, 'carried out the embezzlement of property entrusted to the defendants'. But the trial remains delicately poised because Danilkin will not sentence until he finishes reading his full 250-page verdict, which could take several days." :Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

Julian Assange to use £1m book deals for legal fight | Media | The Guardian: "founder of the WikiLeaks website, Julian Assange, has said he expects to earn more than £1m from book deals. Assange, who achieved global notoriety after his whistleblower website began releasing more than a quarter of a million diplomatic cables, said he would use the money for legal costs. The 39-year-old is fighting extradition to Sweden, where two women have accused him of sexual misconduct. He denies the allegations. Since being released on bail earlier this month pending extradition proceedings, Assange has been living under virtual house arrest at Ellingham Hall, a Norfolk country mansion, from where he regularly gives media interviews. He told the Sunday Times that he was forced to sign a deal worth more than £1m for his autobiography due to financial difficulties. 'I don't want to write this book, but I have to,' he said. 'I have already spent £200,000 for legal costs and...

 Ka-Sat net-dedicated spacecraft ready for launch: "Europe is about to get a second satellite dedicated to delivering broadband internet connections. The six-tonne Ka-Sat will be launched atop a Proton rocket from Baikonur in Kazakhstan in a flight expected to last nine hours and 12 minutes. The Eutelsat-operated spacecraft will concentrate its services on customers in the so-called 'not-spots' of Europe. It is estimated that tens of millions of households in these areas cannot get a decent terrestrial connection. Ka-Sat will provide homes with speeds generally up to 10Mbps." :Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

BBC News - County-wide wireless web coming to Clackmannanshire: "Businesses and communities in Clackmannanshire will soon be able to receive high speed wireless broadband. The council has won a grant of almost £200,000 to help fund the service, which should be ready across much of the county by spring 2011. Speeds of between 2Mbps and 20Mbps will be available on the wireless connection, the council said." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

FT.com / Comment / Analysis - Finance: A sparser future: "If the financial crisis and the fierce regulatory backlash that it sparked are sounding the death knell for Wall Street’s old ways, it is not a sound being heard inside Nomura’s New York headquarters. In a skyscraper that once housed Merrill Lynch, some 2,000 traders, bankers and support staff – many of them recent hires – are striving to add a Japanese name to the “bulge bracket” club of US and European investment banks."   Call of Duty - Black Ops DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

High Court approves AIB bailout - The Irish Times - Fri, Dec 24, 2010: "THE GOVERNMENT has secured a High Court order allowing it to inject a further €3.7 billion into Allied Irish Banks (AIB) without the approval of its shareholders. The bank – once the country’s largest – will be effectively nationalised, bringing four of the country’s six banks and the majority of the banking system under Government control. Emergency bank restructuring legislation signed into law by the President on Tuesday was used for the first time by Minister for Finance Brian Lenihan. He will initially take a stake of 49.9 per cent in the bank, rising to 92.8 per cent in January." :Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

Student who conned his way into Harvard says sorry | World news | The Guardian: "Adam Wheeler, a 24-year-old who conned his way into Harvard and benefited from more than $40,000 (£26,000) in grants and prizes, flew too close to the sun. Not content with having bragged his way into one of the world's most prestigious universities, he felt driven to apply – equally fraudulently – for Rhodes and Fulbright scholarships. The application was a deception too far, and led to the discovery of a string of lies that this week earned Wheeler 10 years on probation and the order to repay Harvard $45,806. He pleaded guilty to all 20 counts against him, including larceny, identity fraud and pretending to hold a degree. 'I'm ashamed and embarrassed by what I've done,' he told a Massachusetts court in a voice so quiet it was barely above a whisper. 'As much as possible, I want to put this behind me and move forward.' Wheeler's impressive record of deceit began ...

Vince Cable: I have declared war on Rupert Murdoch - Telegraph: "The Business Secretary indicated that he would seek to block Mr Murdoch from taking over BSkyB, the satellite broadcaster that he already partially owns. The disclosure is the second revelation in extracts from a covertly recorded conversation between Mr Cable and two undercover reporters from this newspaper posing as Liberal Democrat supporters in his constituency. “You may wonder what is happening with the Murdoch press”, Mr Cable said. “I have declared war on Mr Murdoch and I think we’re going to win”. The Business Secretary also disclosed his private animosity towards Rupert Murdoch, the chairman and chief executive of News Corporation. Mr Murdoch’s attempt to buy outright British Sky Broadcasting (BSkyB) is currently being studied by Ofcom, the communications regulator, who will report to Mr Cable before the end of the year." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyri...

BBC News - London Mayor's loan firm Tube deal branded 'shameful': "London mayor's decision to accept sponsorship from a high interest loan firm for free travel on the Tube on New Year's Eve has been branded 'shameful'. Posters advertising Wonga.com, saying 'sometimes you need some extra cash' have been put up on the Tube network. Labour London Assembly member Jennette Arnold said: 'These legal loan sharks prey on the vulnerable.' But London Mayor Boris Johnson's spokesman said Wonga.com had made a 'useful contribution' to Londoners. Wonga.com's sponsorship will pay for free travel between 2345 GMT on New Year's Eve and 0430 GMT on New Year's Day on the capital's Tube, bus, Tramlink and Docklands Light Railway services." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

EU threatens snowbound airports with regulation | Reuters: "Europe's transport chief said Tuesday he was considering forcing airports to provide airlines with a minimum level of infrastructure support during severe weather, such as this week's snowstorms. European Union transport commissioner Siim Kallas made his comments after more than 3,000 flights were canceled across Europe Monday, according to flight authority Eurocontrol. 'In recent days, I have become increasingly concerned about the problems relating to the infrastructure available to airlines -- airports and ground handling -- during this severe period of snow,' Kallas said in a statement. 'We need to ensure that, from infrastructure providers such as airports and rail infrastructure managers, there are appropriate service levels and minimum quality requirements that are followed and delivered,' he said" DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to...

The Press Association: Allied Irish fined for overcharging : "Allied Irish Banks has been fined two million euro for overcharging customers, the Central Bank has confirmed. An investigation into the bank imposed the largest fine in Irish banking history after finding unacceptable delays in notifying customers of mistakes and in paying refunds. It penalised AIB for three issues including failure to act with due skill, care and diligence in the best interest of its clients and failure to have adequate systems controls to ensure compliance with consumer rules." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

The Press Association: BA crews voting over new industrial action: "British Airways cabin crew, including those working at London's Heathrow Airport, have started voting on whether to take fresh industrial action in their long-running dispute with the airline. Unite said ballot papers are being sent to more than 10,000 of its members, warning that the bitter row was 'deepening'. The dispute was originally over cost-cutting measures, but worsened after BA withdrew travel concessions against cabin crew who went on strike earlier this year and took disciplinary action against some union members. Tony Woodley, Unite's joint general secretary, said: 'When this dispute started, the issue was making savings to help the company through a very difficult period for the industry. 'The union offered multi-million pound concessions which all but met management's requirements. BA however preferred imposition, provoking a dispute which has cost the company vastly ...

Lloyds Banking Group admits £4.3bn of losses on Irish loans Business The Guardian: "Bailed-out Lloyds Banking Group announced today that it will incur £4.3bn of losses on loans to Ireland, in the latest evidence that the problems inside the eurozone will have a knock-effect for Britain's banks. Lloyds issued an impromptu trading update in which it also warned that it would take longer than it had expected to complete its previously announced withdrawal from the troubled country. It admitted for the first time today the scale of the problems it faces in Ireland by revealing that 90% of the £5bn or so of loans it granted to property developers were impaired. Of the £6bn it lent for property investment, 54% is impaired. After these £11bn of commercial real estate loans, the rest of its £26.7bn of loans in Ireland are split evenly between corporate customers and retail customers. The bank's shares fell 4% to 66p after the surprise trading update confirmed fears that the Ir...

Snooty Europhiles should be forced to crawl in penitence - Telegraph: "I think we deserve an apology. By “we” I mean all the Euro-sceptics, Euro-pragmatists, Euro-realists and Euro-hysterics who were alarmed by some of the optimism that surrounded the birth of the single currency. Do you remember the disdain with which we were treated? We were told that we were boss-eyed Little Englanders. They used to say we were a bunch of xenophobic, garlic-hating defenders of the pint and the yard and the good old bread-filled British banger. Whenever we protested about any detail of the plan for monetary union, we were told that we were in danger of stopping the great European train, boat, bus, bicycle or whatever it was. We were a blimpish embarrassment to our country, a bunch of idiot children who had to be shooshed while the grown-ups got on with their magnificent plans. So it gives me a tingling pleasure to report that everywhere you look on the map of Europe we have been proved resound...

UK banks massively exposed to Spain and Ireland, warns BoE News Fund Strategy: "British banks are massively exposed to troubled markets Spain and Ireland by comparison with the core capital they hold as a buffer against losses, the Bank of England (BoE) has warned in its Financial Stability Report. Although British banks’ total holdings of foreign debt are relatively small compared with other countries, claims on Ireland and Spain in particular are large. Altogether, the Bank of England says Spanish and Irish positions represent about 75% of major British banks’ core capital, or the buffer they are obliged to hold to guard against losses. (article continues below) Given its sophistication and international focus, the British banking system as a whole is materially exposed to risks from the international financial system. Market concerns over sovereign risk in some European economies in particular have “re-intensified sharply” in recent weeks, the BoE says in its latest Financi...

FT.com / Companies / Banks - Lloyds hurt by Irish loan book losses: " Lloyds Banking Group will be hit by higher than expected charges on its Irish loan book this year after a further significant deterioration in market conditions in recent weeks. The government-backed bank disclosed on Friday that the impairment charge for the full year would be £4.3bn. In the first half, Lloyds took a charge of £1.5bn on its Irish portfolio – meaning losses on the loans have almost doubled in the past six months." :Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

Bernard Madoff's son Mark found hanged Business guardian.co.uk: "Mark Madoff, the eldest son of disgraced financier Bernard Madoff, has been found hanged in his downtown Manhattan apartment on the second anniversary of the day his father turned himself in to authorities. His death, which was reported to the police by his father-in-law at 7.30am today, came days after he was named in a new lawsuit by the liquidators of his father's empire. 'He was found hanged in his apartment. It was an apparent suicide,' police spokesman Paul Browne said. But authorities said he left no suicide note. Mark Madoff and his brother, Andrew, were under investigation but had not faced any criminal charges in the $50bn (£31bn) Ponzi scheme that led to their father being jailed." DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

Australian supermodel Elle Macpherson has been awarded with £2.5million after winning a court battle against the liquidators of one of the Icelandic banks which collapsed during the economic crisis. Elle, known as The Body, took PriceWaterhouseCoopers, the liquidators of KSF, to the High Court in the Isle of Man. Macpherson could have lost money tied up with the bank after she used it to buy a new home in London. Although the 46-year-old ended up selling the house last October for £6.4million. The star took action with PWC when they would not let her 'set off' deposits she had with the bank against money owed by her company to KSF for a mortgage on property.DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.

Recession Looms In Mid 2011 Fx Concepts Chief John Taylor Says - The Business Blotter - Portfolio.com: "John Taylor, the head of hedge fund giant FX Concepts, says the U.S. is headed back into recession by the middle of 2011, despite the Federal Reserve's latest bailout attempts. 'It's a new recession. We're already growing, but the numbers show that the U.S. government is still the primary creator of this growth,' Taylor, the head of the $8.5 billion currency fund, the largest of its kind, told the Reuters Investment Outlook Summit on Monday. 'I would argue that by the middle of next year, we will be in a recession, and our fiscal hands will be tied,' he said. His comments reflect rising concern about the economy, in light of last week's unexpectedly discouraging report on November jobs growth. The economy added only 39,000 jobs, and the jobless rate rose to 9.8 percent from 9.6 percent." DISCLAIMER:Text may be subject to copyright.This bl...

Jpmorgan Reportedly Suspected Madoff Months Before Arrest - The Business Blotter - Portfolio.com : "ABC News says it has documents that prove JPMorgan Chase suspected Madoff was a crook two months before the notorious financier was arrested. That is basically what Madoff trustee Irving Picard said in his suit against JPMorgan, Picard is seeking to recover $1 billion in profits and fees and $5 billion in damages from the bank on behalf of Madoff victims. The bank's London office reported suspicions about a fund that did business with Madoff to the U.K.'s Serious Organized Crime Agency in October 2008, two months before Madoff was arrested. The bank did not alert U.S. authorities. 'The company filed the report, an attorney for JPMorgan would later say, after a representative of a Madoff feeder fund became angry when JPMorgan began removing money from the fund. The representative of Geneva-based Aurelia Finance, which was acting as an adviser to one of the feeder funds...

Billion-Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years FT.com / UK - Asil Nadir held in London for bail breach: "Business tycoon Asil Nadir, who returned to Britain voluntarily this summer to stand trial on theft and fraud charges next year, was arrested in London on Saturday on suspicion of breeching bail conditions. “I can confirm that a 69 year-old man has been arrested at an address in central London for breaching his bail terms,” a Metropolitan Police spokesman said. The Turkish Cypriot businessman, who was a big donor to the Conservative party, voluntarily returned on August 26 from his home in northern Cyprus , which has no extradition treaty with Britain. He is due to stand trial, possibly in October 2011, on charges linked to the failure of his Polly Peck fruit-to-electronics group, which folded in 1990 with debts of 1.3 billion pounds. The collapse of Polly Peck was one of Britain’s biggest business failures."...

Megrahi's family to sue over 'neglect' in Scots jail, says Gaddafi - Scotsman.com News: "The compensation claim was branded 'offensive' by MSPs last night as the Scottish Government defended its care of the bomber, who was released on compassionate grounds by Justice Secretary Kenny MacAskill due to advanced prostate cancer. However, he remains alive more than a year after his release, following intensive therapy in his homeland. The Libyan dictator said last night: 'He was released because he was considered dead, and yet he is still alive. 'His health was not looked after during his time in prison. He didn't have any periodic examination. After he passes away his family will demand compensation because he was deliberately neglected in prison.'"

WikiLeaks cables: Prince Andrew bats for Britain - at taxpayers' expense UK news guardian.co.uk: "Prince Andrew does brusque, blunt and boorish, but very rarely charming, especially to those in inferior social positions to himself and to journalists – even those who go to interview him about his mission as Britain's special representative for international trade. It is an occupation that takes the Duke of York around the world at taxpayers' expense and often by the most expensive form of transport. Not that public criticism, or the nickname Airmiles Andy, ever deters him from taking the next privately chartered jet, or helicopter to lift him over the traffic to a golf club. 'It's not the quickest way – it's the most cost-effective and sensible way to use the time I have available. I probably use the helicopter less than other members of the royal family,' he told the Daily Telegraph last year after taking a £2,000 helicopter flight from Windsor to Dea...

How taste for high life led public schoolboy to set up multi-million pound internet crime site - Telegraph: "Thousands of criminals were logging on to a 'cyber supermarket' where they could shop for stolen credit card details or learn how to manufacture illegal drugs – and even bombs. At its peak GhostMarket. Net had 8,500 members who bought and sold credit cards and bank account information worth millions of pounds and traded advice on committing and getting away with crimes. The information was used to rip off banks and retailers anywhere around the world. Innocent shoppers using the internet would find their pin numbers and passwords copied by cyber criminals who had infected home computers using special software. The details were then sold and modified on GhostMarket."

It emerged last night that the EU and the IMF will offer the Government an €85 billion facility which can be used to recapitalise the banks and fund the public finances. The package would see the level of capital in the Irish banks being increased from 8% to 12% in a move to bolster confidence of depositors in the financial system. Last week the IMF and EU team began intensive meetings with the Central Bank to re-shape the financial system for the future. Their plan would boost levels of capital in banks, to cushion against future loan losses. The 12% capital figure - a measure of how much funds the banks must hold in reserve - is significant by international standards. It is aimed at boosting confidence - particularly for depositors who are also covered by the EU bank guarantee. The money will come from an €85 billion facility provided by the EU and IMF. The remainder of the funds will be used to run the country on a day-to-day basis - perhaps over a two to three-year period. While th...

THE future of the euro is now at stake, German Finance Minister Wolfgang Schaeuble warned yesterday as European officials prepared a bailout package for Ireland and bank shares plunged. Mr Schaeuble spoke as Spain became the latest country to come under pressure from the bond markets. "The uncertainty puts our common currency at stake," he said as pressure mounted on the Government here to pass a Budget to ease the threat to other weak eurozone countries. "If we can't defend this common currency as a sustainably stable currency the consequences would be incalculable," Mr Schaeuble said. "It's extraordinarily important to show that it's possible in Germany to do what we've promoted so often abroad," he said, referring to Berlin's plans to cut more than €80bn from its budget over the next four years. "We have every reason to continue decisively on this path," he added. German Chancellor Angela Merkel echoed his sentiments warnin...

The horrible truth starts to dawn on Europe's leaders – Telegraph Blogs : "entire European Project is now at risk of disintegration, with strategic and economic consequences that are very hard to predict. In a speech this morning, EU President Herman Van Rompuy (poet, and writer of Japanese and Latin verse) warned that if Europe’s leaders mishandle the current crisis and allow the eurozone to break up, they will destroy the European Union itself. “We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union,” he said."

"Even as the final details of the Irish rescue package are still being resolved, investors and economists are asking: 'Who's next?' The answer has been plain for some weeks – Portugal is the nation widely regarded as next most in need of assistance after Greece and Ireland, with Spain and, possibly, Italy following behind. There has been intense fear in Lisbon, Madrid and Brussels about what would happen even if Ireland's problems were not resolved rapidly."

BBC News - Prayers in Ireland ahead of budget plan : "finances. The Irish may not be as religious as they once were, but in churches right across the country on Sunday prayers were offered for the future of the country and its people. On Tuesday, the Irish government is expected to publish its four-year-plan aimed at getting its budget deficit down to 3% by 2014, in line with the rules of the Eurozone and agreements reached between Dublin and its European partners. It currently stands at 32% due to the amount spent on bailing out its banks to date. A worried people know that tax rises, spending cutbacks and probable privatisations are in the offing."

The Irish crisis: advice for offshore savers - Telegraph : "Ireland is poised to accept a loan from Europe of many billions of euros. But what about savers with money in Irish-owned banks? Are they in danger - or is the protection they have enough to stop them worrying about the safety of their money? For expatriates, the Irish-owned banks have offered welcome competition for the UK-owned ones, often providing higher rates of interest. But now savers need to decide whether they are happy to get the high rates on offer considering the worries over the financial state of the Emerald Isle."

Can the UK afford to bail out Ireland? | Business | The Guardian : "Poor old Ireland, felled horribly in the crash. It's splendid really, that British sympathy extends to a possible bail-out from George Osborne's Treasury. But one does wonder where the money is coming from, as UK citizens themselves feel the lash of austerity. Of course, many commentators continue to insist that British government cuts are not necessary. Huge debt after the second world war is their benchmark example, for that was no bar to the setting up of the welfare state. However, those same critics are also fond of insisting that they see no reason to believe that a private sector recovery will rescue us now, as the coalition envisages. Here, however, is exactly where those second world war analogies break down. Who could have imagined a possible boom, in the wake of working men returning home from war, industry moving back from munitions to private industry, technology advancing furiously, and consu...

FT.com / Tax - Tax returns hit by HMRC software bug : "Hundreds of people have been prevented from completing their tax returns online – and claiming thousands of pounds of tax relief – by a software bug that HM Revenue & Customs (HMRC) has not fixed for several months. The tax authority has now been forced to issue an apology after customers filing their self-assessment returns via the internet complained of being locked out of their online accounts. EDITOR’S CHOICE Scams affect one in ten people in the UK - Feb-02HMRC snowed under with claims for tax repayments - Jan-25Be reasonable - Jun-05The pervasive business of fiddling expenses - May-21Self-employed claim discrimination over pensions savings - Apr-28Investors seek to shift away from tax traps - May-01HMRC says it will now consider claims for interest payments on tax rebates which were delayed being paid by the system problems"

ICB could call for Lloyds break-up - Telegraph : "Clare Spottiswoode, the former gas regulator, said a break-up of Lloyds could potentially be on the cards if the ICB decided to call for a “reversing” of Lloyds’ takeover of HBOS in late 2008. Regulators are concerned that the retail banking market is controlled by too few players and Ms Spottiswoode took the opportunity to signal the ICB’s intentions as she chaired the body’s first public meeting at Leeds University Business School. Peter Moizer, dean of Leeds Business School and a former member of the Competition Commission, made clear that he had been dismayed by the decision in late 2008 to waive competition concerns to allow Lloyds TSB to acquire HBOS."

Gas price rise? Just say no thanks - Telegraph : "Customers who face energy price rises next month could enjoy their current lower prices for most of the winter, simply by using a little-known regulatory rule. Thanks to an obligation put on the energy companies by their regulator, Ofgem, customers are able to reject their supplier's price rises while switching to another energy provider. The old prices will apply until the switch goes through, buying customers several months' grace on their current tariffs."

Precise Mortgages attracts new funding : "Precise Mortgages' managing director, Alan Cleary, has revealed it has attracted new funding, which it plans to bring into the buy-to-let sector next year. Speaking at the CML Mortgage Industry Conference Exhibition (MICE), Cleary told the audience that wholesale funding in the buy-to-let sector remained the biggest issue for lenders."

Ireland bailout: Banks 'on brink of collapse' | Mail Online : "Ireland's biggest banks are facing collapse this week unless an immediate international bail-out package can be agreed, senior insiders have revealed. Allied Irish Banks and Bank of Ireland have each suffered a multibillion-euro ‘run’ as foreign investors withdraw their cash amid fears that both institutions are effectively bust. It was this secret ‘run’ that brought the IMF and EU bail-out teams to Ireland in an effort to prevent the banks collapsing entirely. If they do, it would trigger Ireland’s €440bn blanket bank guarantee – potentially leaving the State unable to pay the debt."

Irish cabinet meets on fiscal plan, support crumbles | Reuters : "You have lied, You have let us down. For Ireland's sake, go now' demanded the Sunday Independent newspaper under a front page picture of the cabinet. Public anger, already high at the prospect of looming job and welfare cuts, has reached boiling point after it became clear the government would need outside help. Officials from the International Monetary Fund and European Commission are in Dublin to thrash out an aid package to help the country cope with its struggling banks, whose huge liabilities have sent Irish borrowing costs soaring."

French President Nicolas Sarkozy said on Saturday he expected Ireland to raise its corporate tax rate but added that an increase would not be a condition for any bailout. International Monetary Fund and European Commission officials are in Dublin to discuss financial aid to help Ireland cope with its struggling banks, whose huge liabilities have sent Irish borrowing costs soaring. The main concern for EU policymakers is that Ireland's problems will spread to other euro zone members with large budget deficits such as Spain and Portugal, threatening a systemic crisis. Euro zone states want Ireland to raise its 12.5 percent corporate tax rate as part of any deal but Dublin argues the low rate is crucial to attracting foreign investment. Sarkozy, speaking at a news conference in Lisbon on the sidelines of a NATO summit, said he expected Ireland to raise its corporate tax rate.

These savers have billions invested with Ireland three biggest banks: Anglo Irish Bank, Bank of Ireland and Allied Irish Bank. A total of £10bn alone is invested in the Bank of Ireland, through the savings accounts it offers through the Post Office. If the EU does eventually offer a bail-out this should help underpin the Irish banking system. But anyone with money in a bank – whether it is based in Ireland, the UK, or any other country – should ensure they know where they would go to claim compensation, and how much of their money would be protected, in the event of a bank going bust. Remember those who have money in long-term fixed-rate bonds may lose significant amount of interest if they withdraw their money early, and switch it into a UK-based bank. In some cases withdrawals are not possible at all on such accounts. Panasonic Lumix DMC-FZ35K 12.1MP 18x Zoom Digital Camera $314.95 w/ free shipping

BBC News - Payouts for ex-Guantanamo Bay detainees : "The government has agreed to pay millions of pounds in compensation to around a dozen men who say they were illegally held at detention camps overseas, including Guantanamo Bay. All of the men who will get payouts are either British citizens or UK residents. They claim the authorities knew they were being ill-treated and should have stepped in. The BBC's Daniel Sandford reports."

Glazers to pay off £220m debts | The Sun |News : "MANCHESTER United's owners are set to pay off their £220million high-interest payment-in-kind (PIK) loans — without drawing money from the club. The money was borrowed from three US hedge funds to help finance the Glazer family's £790m takeover of Man Utd in 2005. In January, the Glazers were given the freedom to take up to £70m from the club's revenues to pay down the PIKs. However, they do not appear to have done that. Co-chairman Joel Glazer issued a 'voluntary free-payment notice' to the lending houses that stumped up the loan, confirming it will be paid off in full. There has been no comment from United about how the money to pay off the PIKs has been raised. It is possible the Glazers could have sold a chunk of the club or sold off other business interests, which include their Tampa Bay Bucaneers NFL franchise. More may become apparent later today when United are due to publish their results for the last q...

The Press Association: Ireland under bail-out pressure : "Ireland is facing intense European pressure to accept a massive financial bail-out - not just to rescue the Irish economy but to save the single currency itself. Ahead of talks between the 16 eurozone nations, Dublin was still insisting it needed no help from either the EU or the International Monetary Fund. The nation's sovereign debt, ministers emphasised, is fully covered until next summer. But when Finance Minister Brian Lenihan sits down with his single currency counterparts in Brussels, the message will be that 'contagion' is threatening other struggling eurozone economies and must be contained. German Chancellor Angela Merkel made clear on Monday that the future of the single currency could be at stake if Europe suffers a resurgence of a Greek-style crisis fuelled by speculators gambling on the euro's plight. A cabinet meeting will determine what stand Mr Lenihan takes, but he will face warnings in Br...

Children abandoned in city centre - Telegraph : "Neighbours heard the baby crying in his pushchair and when no one appeared to claim the children after 30 minutes they were taken to a nearby house to keep warm. Police were later alerted. The mother is believed to live close to where the children were abandoned in Plymouth, Devon, on Thursday at about 6.20pm, and may have been taking them out for a stroll. The motive for abandoning the children remains a mystery. A family friend has claimed the mother's purse and house keys were found inside the pram and the family dog was still inside their house. Police said last night that officers had traced the children’s parents and were conducting further investigations."

Muslims clash with police after burning poppy in anti-Armistice Day protest - Telegraph : "35 Islamic protesters, dressed in dark clothes and with many masking their faces, carried banners and chanted slogans such as 'British soldiers: terrorists'. The group confronted police officers and briefly fought with them, leaving one officer with a head injury requiring hospital treatment, and three arrests were made. Around 50 counter demonstrators from the far-right English Defence League gathered nearby but officers kept the two sides apart."

McDonald's forced to remove image of boat from advertising campaign by its owners | Business | guardian.co.uk : "With its distinctive colour scheme and elegant masts, the boat resting on the scenic sandflats of the west Cumbrian coast made a beautiful opening shot for a television advert. But the promotion was made for the fast food giant McDonald's, and the owners of the Badger, a 34ft junk-rigged sailing dory moored near their home, were less than happy at their boat being used to promote a restaurant they 'have never set foot inside and are not likely to'. Now, in a remarkable victory, the retired couple from Cumbria have won their fight to have the advert removed from TV screens and re-edited – minus the boat – at the company's expense. 'We didn't see the advert ourselves at first, but lots of people kept saying to us: 'Oh, we saw the Badger on the McDonald's advert.' It was quite irritating, especially as we are not fond of fast food an...

Ireland bailout: UK taxpayers could face £7bn bill Business guardian.co.uk : "emergency bailout of Ireland, which is looking increasingly likely today, could cost Britain billions of pounds. Although Ireland continues to deny that it has asked for help, many analysts believe the country will have to tap a €60bn rescue fund set up by the EU in May this year. Under the terms of a deal agreed by Alistair Darling in May, the UK is liable for 13.6% of this fund. This means taxpayers could contribute as much as €8bn (£6.8bn), depending how the rescue package was structured. The UK government declined to say how much an Irish rescue package could cost British taxpayers."

The Press Association: Family distraught after bull death : "family has been left distraught after a man died and his wife was critically injured when they were attacked by a bull in a field, police said. The couple were attacked at around 4.30pm on Friday as they walked along a public footpath that ran through a livestock field on Leake Road in Stanford on Soar, Nottinghamshire. The 63-year-old man died from his injuries and was pronounced dead at the scene, a spokesman from Nottinghamshire Police said. His 67-year-old wife managed to get to the nearby road just after the attack, where she flagged down a passing female motorist who contacted emergency services She was then taken to the Queen's Medical Centre in Nottingham, where she remains in a critical condition. The couple, who have not yet been named by police, were both from Glen Parva in Leicester and had two sons who both travelled to be at their mother's bedside, the spokesman said. The man's elderly parents h...

Ramsay lashes out at mother-in-law | TV | Entertainment | Toronto Sun : "Gordon Ramsay has sensationally accused his mother-in-law of attempting to 'poison' his marriage and force his wife to leave him as a family feud escalated. The British chef's bitter fall out with his wife Tana's relatives hit headlines in October when he sacked her father, Chris Hutcheson, from his post as CEO of Gordon Ramsay Holdings. Hutcheson is now suing the Hell's Kitchen star for $3.2 million. Ramsay has attempted to patch up the fractured family relationships by writing an open letter to Tana's mother, Greta, urging her not to cut contact with her daughter. But Ramsay has now risked alienating his in-laws even further by fiercely criticizing his mother-in-law in his first interview since the scandal hit. He has accused Greta of writing Tana a letter in the wake of her father's dismissal and urging her to end her marriage. He tells Britain's Daily Mail, 'The letter ...

Gordon Ramsay could have to pay £15 million to buy out his father-in-law from restaurant business - Telegraph : "The letter that landed on Gordon Ramsay's doorstep last Monday was dynamite. Timed to coincide with his 44th birthday, it ruined any chance Ramsay might have had of enjoying his big day."

Number of young Britons using cocaine shoots up 50 per cent | Mail Online : "Men are twice as likely to die from cocaine than women One in seven 15 to 34-year-olds have taken cocaine Almost 400,000 coke-users aged under 25 British youngsters have become the greatest consumers of cocaine in the developed world, according to a major international study.It found that numbers of young people using the drug in this country have shot up by 50 per cent over five years.This means Britain has left other countries which face major cocaine problems – in particular the U.S. and Spain – far behind in the league table of those worst-affected."

The Press Association: Waterboarding saved UK lives - Bush : "George Bush has claimed that information obtained from terrorist suspects through 'waterboarding' prevented terrorist attacks on London, saving British lives. In his memoirs, serialised in The Times, he said the use of the controversial interrogation technique - which simulates drowning - had helped to break up plots to attack Heathrow Airport and Canary Wharf. In an interview with the newspaper, he confirmed he had authorised the use of waterboarding to extract information from Khalid Sheikh Mohammed, the al Qaida mastermind behind the 9/11 attack, telling the paper: 'Damn right.' Mr Bush said: 'Three people were waterboarded and I believe that decision saved lives.' In the book, Decision Points, he writes: 'Their interrogations helped break up plots to attack American diplomatic facilities abroad, Heathrow Airport and Canary Wharf in London, and multiple targets in the United States.' T...

Teacher struck off for showering with teenage girls - mirror.co.uk : "woman teacher was struck off for four years yesterday for sharing a shower with teenage girl pupils. Debbie Lloyd-Jones was banned from teaching for improper behaviour with girls aged 13 to 16, including sending text messages saying: 'I love you.' Head of music Mrs Lloyd-Jones, 29, sent one pupil more than 1,000 text messages and bought gifts of teddy bears, perfume and jewellery for other girls at her high school, a hearing heard. She stripped into a bikini to shower with girls before a school show at Oakdale Comprehensive in Blackwood, South Wales. Disciplinary panel chairman John Collins said yesterday: 'Although no sexual activity took place, this was inappropriate involvement.'"

The Press Association: Roads and ferries hit by snowfall : "Early snowfall and high winds has brought disruption to parts of the UK, affecting roads and ferry services. Snow fell across high ground from the north midlands towards Scotland, with the Highlands particularly affected. The A93 Glenshee to Braemar road in the Grampian area was closed due to drifting snow and high winds while motorists on the M74 near Beattock were advised to drive with caution due to snow in the area."

UK 'thief'spotted at crime scene on Google Street View | Herald Sun : "BRITISH mobile home owner whose trailer was stolen spotted a potential suspect by using Google Street View. The owner, who was not named, searched for his trailer on Google Street View and saw an unknown man standing on his driveway, near the trailer, shortly before it was stolen on June 5 last year. Police in Derbyshire, central England, then took the unusual step of issuing a picture of the man, The Derby Telegraph reported. 'It is amazing that we have such a clear image of a man who we think will be able to give us information that would help the police inquiry, Police Constable Adrian Mason, of Derbyshire Police said. 'It was an amazing coincidence that the Google Earth car was passing at that time.'"

Stafford hospital patients died due to NHS failings, inquiry told | Society | guardian.co.uk : "Patients suffered and died unnecessarily during a hospital 'disaster' because NHS bosses and groups failed to step in, the chairman of the public inquiry into the scandal said today. Robert Francis QC pledged to identify those responsible for events at Stafford hospital between 2005 and 2009, where between 400 and 1,200 patients are believed to have died as a direct result of 'appalling' care. Francis made clear at this morning's opening session that he would conduct a thorough and searching inquiry into why organisations that were meant to be supervising the quality of treatment at the hospital fell down in that task. In March, Francis's first inquiry – and the fourth overall – painted a picture of a hospital where sub-standard care meant patients were 'routinely neglected', endured 'unimaginable' distress and suffering, and were left 'sobbin...

Royal Navy website infiltrated by computer hacker - Telegraph : "navy's website was shut down this morning after a self-confessed security enthusiast claimed to have hacked into the site and its databases. In a new post on his blog the hacker, a Romanian national known only as TinKode, claims to have penetrated the security of the navy's site late on Friday night. Cyber guards or soldiers: which do we need most?The shocking breach comes just weeks after the coalition Government announced plans to make countering cyber-terrorism a major defence priority. Last month, a Strategic Defence Review stated that in addition to international terrorism and natural disasters, cyber attacks from a new generation of sophisticated cyber terrorists were one of the major threats to the UK."

Church of England is 'like a coffee chain going out of business', defecting bishops warn - Telegraph : "Five bishops have announced that they are converting to Roman Catholicism in protest at liberal Anglican reforms and urged others to follow their path. One likened the Church to a chain of coffee shops that is losing customers while a second accused it of adopting an increasingly “lax” attitude towards issues of morality, such as homosexuality and abortion. Bishop brands his liberal critics 'little Englanders' as new gay row hits Church Anglicans who defect to Rome 'could share CofE churches' More parishes reject Church of England bishops who ordain women priestsAs first reported in The Daily Telegraph, three serving and two retired traditionalist bishops announced that they are resigning in order to convert to Roman Catholicism."

Swedish police hunting a lone gunman who has been stalking the southern city of Malmo for more than a year and terrorising its immigrant community with a series of shootings have arrested a 38-year-old suspect. Police refused to name the man who was taken into custody on Saturday night on suspicion of murder and attempted murder. He is believed to be responsible for 15 unsolved shootings in Malmo in which one person was killed and eight wounded. "We became interested in this man because of tip-offs we received from the public," Commissioner Borje Sjoholm, Sweden's chief police spokesman, said yesterday. "We called him at his home and asked him to step outside. He did not resist arrest." Mr Sjoholm said two firearms were found at the man's home.

Bonfire society chief hurt by rocket - Home News, UK - The Independent : "Britain's oldest bonfire societies remained in a critical condition in hospital last night after being struck in the chest by a rocket at a celebration in Lewes, east Sussex. The 21-year-old from the Commercial Square Bonfire Society, which was founded in 1886, was hit by a stray firework. He had helped to organise the event. He had emergency surgery and treatment for serious burns at Royal Sussex County Hospital in Brighton. About 40,000 people packed into Lewes's narrow streets to watch the display. Residents burnt an effigy of David Cameron and Nick Clegg."

The Press Association: Minister in airport liquids blunder : "Britain's security minister Baroness Neville-Jones was left red-faced after she was asked to remove liquids from her bag by airport staff, it has emerged. The blunder was picked up during security checks that were introduced in 2006 to prevent would-be terrorists from using liquid bombs to bring down planes. Passengers are restricted to 100ml bottles of liquid in their hand luggage. The Home Office minister, who is responsible for national security, had been on her way to a summit in Washington, according to the Sunday Mirror. The newspaper said the Baroness, 71, had flown to the US from Heathrow Airport just two days before explosives were discovered hidden in an ink cartridge on a US-bound plane at East Midlands Airport. She was reportedly carrying liquids that exceeded the limit. A Home Office spokesperson said: 'Liquids were inadvertently left in a bag while the minister was travelling through airport securi...

Brit awards break with past in biggest-ever shakeup | Music | The Guardian : "The Brit awards, the glitziest event in the UK music industry calendar, are no stranger to criticism. Tedious, embarrassing and irrelevant are just some of the less generous adjectives that have been flung at the event. And the slur that hit hardest was the accusation that the Brits are an outdated relic. But its organisers are determined to put this slur to rest with a raft of changes to next year's event that amount to the biggest shakeup in Brits history. The changes – including a new venue, a new award designed by Vivienne Westwood, a greater focus on the album of the year, the scrapping of the outstanding contribution to music award and changes to the voting academy – will 'transform' the awards, David Joseph, the CEO of Universal Music UK and the new Brits chairman, told the Guardian. 'I want to see more music, I desperately want more gravitas – I want it to be fundamentally about m...

BBC News - Ascot millionairess died from 'blunt force' injuries : "Berkshire millionairess died from severe blunt force trauma to her head, post-mortem tests have revealed. Joanna Brown, 46, who ran a bed and breakfast in Ascot, was reported missing on Monday morning. Police have confirmed a body found on Friday in Windsor Great Park, near the guesthouse, is that of Mrs Brown. Her husband, Edinburgh-born Robert Brown, has appeared in court charged with her murder and was remanded in custody."

BBC News - Stormy gusts up to 65mph forecast to batter UK : "Storms are set to batter the UK on Monday, with downpours and winds of up to 65mph (105km/h) expected. Wales and Scotland are expected to be worst hit, but it is unlikely that any region would escape the bad weather. BBC forecasters say strong gusts could bring branches down as low pressure ushers in the autumn's first storms. Severe weather warnings are in place in Northern Ireland, Scotland, Wales and western counties of England, with snow and sleet forecast in some areas."

The Whitehall hit squad - UK Politics, UK - The Independent : "Britain's most senior civil servant is to call in a group of key private sector businessmen to advise permanent secretaries on how make thousands of job cuts in the public sector. Sir Gus O'Donnell, the Cabinet Secretary, wants the civil service to learn from private companies how to reduce in size and reform without cutting services and important functions. Downing Street is refusing to say who the businessmen are. Among those thought to have been approached is Richard Baker, who as chief executive of Boots led a reorganisation of the company that led to over 2,000 job losses. During Mr Baker's three-year stint as head of the high street chemist, its share price doubled."

Two drivers jailed for speeding at 140mph - Telegraph : "Police camera footage shows the pair swerving in and out of other vehicles, veering wildly as they switch lanes, keeping their speed at between 130mph to 140mph for three minutes. They were eventually stopped after a motorcycle police officer, who had filmed them with his helmet camera, was able to pull alongside them and signal for them to stop."

Eric James Fiske, 30, an original member of the Game Tight Soldiers gang and an unnamed female were arrested after they attempted to retrieve a bag that contained two loaded handguns, a Mac 10 sub-machine gun with ammunition, and 228 grams of cocaine from a wooded area in Prince George. Police later found 56 more grams of cocaine, 159 flaps of heroin, 1.5 kilograms of marijuana, and other related drug-trafficking paraphernalia in a residence. The Game Tight Soldiers started in Vancouver’s Downtown Eastside and members have recently been moving into Prince George. Read more: http://www.theprovince.com/news/Briefs+Gangster+arrested+drugs+guns+stabbing+McDonald+more/3582970/story.html#ixzz10hyoCwwC

US gold races up on renewed European debt concerns | Reuters : "U.S. gold futures surged in early Tuesday dealings to a near two-week high as investors once again sought a tangible assets in the face of renewed sovereign debt concerns in Europe, a rise in the euro and higher oil prices, traders said."

Euro Weekly News | PSOE denounce excessive salary | Costa del Sol | News | The Largest English Language Newspapers in Spain : "main opposition party in Alhaurin de la Torre, the PSOE, has denounced the salary of the Mayor, Joaquin Villanova, as ‘outrageous’ for a municipality of 30,000 inhabitants. The PSOE believes that, irrespective of the party to which the mayor belongs, a salary in excess of 75,000 euros is excessive, particularly for a municipality of such size."