Pages

Monday, 12 September 2011

Spain killer bull named 'Mouse' wins fame, infamy

 

3,000 fans cheering, a hulking, black-and-white fighting bull named "Mouse" chased one daredevil runner after another, trying to flip them airborne and skewer them as he did a month ago in a fatal goring that enshrined his reputation as Spain's most feared and famous beast. Mouse was greeted in the southeastern farm town of Sueca like a rock star: Everyone stood up at 2 a.m. Sunday in the bull ring's grandstands as he charged across the sand after loudspeakers introduced him with the eerie strains of the soundtrack to "The Good, The Bad and The Ugly," the 1960s spaghetti western starring a young Clint Eastwood. The 550-kilogram (1,213-pound) bull didn't claim any more victims this time, but tried his hardest to gore runners. And he captured intense media coverage in what could be his last appearance before retirement amid the controversy he has generated about Spain's summertime tradition of bull versus human runs, a pastime that plays out in rings, narrow streets and plazas across the nation. After running with Mouse, a breathless Julian Herroja said the bull is so dangerous that "if you make a mistake, he won't. You'll be a victim for sure." More than 30 journalists were on hand to cover the event in Sueca, population 28,000, near the beach destination of Valencia. Though Mouse will make one more appearance before the end of his season this year, he will run around the ring without runners. Mouse's owner now fends off as many as 60 cell phone calls daily from reporters. Facebook pages dedicated to him include comments from some people praising him for taking revenge against humans in a country where slews of bulls are slain every year in bullfights by matadors. But Gregorio de Jesus is angry that Mouse has been nicknamed "Killer Bull," saying he gets blame for doing what comes naturally: Defending himself against perceived threats. "We go to entertain people so they'll have fun, but unfortunately they are fighting bulls, and there is always a percentage of risk," said de Jesus, 42, a former bull fighter who raises 70 specially bred bulls and 300 cows. The hype about Mouse has grown so much in Spain that de Jesus is forced to deny reports that the 11-year-old Mouse has killed as many as five runners during his career. But in addition to the 29-year-old victim Aug. 14 in the town of Xativa, he killed a 56-year-old man in 2006 and has seriously injured five more people over the years. Mouse got his name because no one ever expected him to turn into such a raging bull, de Jesus said. As a calf, he was tormented by several youths who broke into his pen and exhausted him almost to death. Then he was nearly fatally gored by another bull at de Jesus' ranch. Critics and bull run aficionados alike agree that security is lax at many small town bull runs, meaning almost anyone can participate — even if they're drunk, have taken drugs or aren't physically fit enough to sprint away from enraged bulls. Sueca's mayor beefed up security Sunday, and the extra contingent of police took away some suspected drunks during Mouse's run. After the bull's last deadly goring, Valencia's regional government announced plans to study how police can be given more authority to detain runners who shouldn't be in the ring, while stressing that the overall number of bull run injuries in the region where they run dropped to 486 in 2010 from 676 in 2008. Hector Benet, an insurance agent for the bull run industry, said the number of deaths each year in the region averages four, with dozens of serious injuries annually. While bulls in the runs aren't killed or bloodied like their counterparts in bullfights, animal rights groups say the events are a form of animal torture, with bulls terrified by the hundreds of people who taunt the animals by yelling at them, poking them with long sticks and tossing sand from the plaza at them.

Sunday, 11 September 2011

Microsoft online services hit by major failure

 

Millions of Microsoft users were left unable to access some online services overnight because of a major service failure. Hotmail, Office 365 and Skydrive were among the services affected. Microsoft was still analysing the cause of the problem on Friday morning, but said it appeared to be related to the internet's DNS address system. Such a major problem is likely to raise questions about the reliability of cloud computing versus local storage. Especially embarrassing is the temporary loss of Office 365, the company's alternative to Google's suite of online apps. Its service also went offline briefly in mid-August, less than two months after it launched. The latest disruption is believed to have lasted for around two-and-a-half hours, between 0300 GMT and 0530 GMT. In a blog, posted at 0649 GMT, Microsoft said: "We have completed propagating our DNS configuration changes around the world, and have restored service for most customers." The Domain Name System (DNS) is responsible for translating URL web addresses , such as bbc.co.uk into the internet's native system of IP addresses, e.g. 212.58.246.95.

Friday, 9 September 2011

Millions of Hotmail users cut off by Microsoft 'cloud' failure

 

As well as Hotmail, the outage affected Office 365 and the Skydrive online storage service. Microsoft said the cause appeared to be related to the Domain Name System, the computer network that ensures that web addresses are connected to websites. “Preliminary root cause suggests a DNS issue,” the firm said on its office 365 Twitter feed. The problems lasted for at least two-and-a-half hours, beginning at around 4AM British Summer Time. On a company blog, Microsoft said it had fixed the problem at 5.45AM, but the repairs took some time to “propagate” through the DNS network.  "We are working on propagating the DNS configuration changes and so it will take some time to restore service to everyone. Again we appreciate your patience," the firm said. For Office 365, Microsoft’s subscription-only competitor to Google Apps, which went live earlier this year, it was the second major technical failure in less than a month. Such incidents are likely to give pause to organisations considering migration to online “cloud” services, whereby software is delivered from vast data centres, over the internet.

Hague court jails ex-Yugoslav army general

 

highest-ranking officer of the former Yugoslav army has been jailed for 27 years by the UN tribunal at The Hague for war crimes. General Momcilo Perisic, who served as chief of staff of the Yugoslav army during the Balkans conflict, was found responsble for murder, persecution and attacks on civilians in Bosnia and Croatia in the 1990s. The tribunal found Perisic, 67, guilty of helping Serb troops plan and carry out war crimes, including the killing of 8,000 Muslim men and boys in Srebrenica and of the 42 month-long siege of Sarajevo. Perisic was also convicted of failing to punish his subordinates for their crimes of murder, attacks on civilians, and injuring and wounding civilians during rocket attacks on Zagreb in Croatia. He was also found guilty of securing financial and logistical support for Serbs in Bosnia and Croatia. Criminally responsible "Momcilo Perisic was found criminally responsible for aiding and abetting murder, inhumane acts, attacks on civilians and persecution on political, racial or religious grounds in Sarajevo and Srebrenica," Justice Bakone Moloto said. Perisic becomes the first Belgrade official to be convicted for Serbia's role in the wars in Bosnia and Croatia, a role the regime in Serbia has always staunchly denied. The court also found Perisic bore command responsibility for the shelling of Zagreb in 1995. The tribunal found evidence that Perisic had had a "collaborative relationship" with Bosnian Serb military commander General Ratko Mladic, and "substantially aided his operations". Perisic had kept General Mladic on the Yugoslav Army payroll list, and personally signed Mladic's promotion to the rank of colonel general in 1994. Mladic is currently on trial at The Hague on charges of crimes including genocide. But the tribunal did not find evidence that Perisic had "exercised effective control" over Mladic or any other Yugoslav Army officer serving in the Bosnian Serb army. Mladic has been indicted for genocide by the Yugoslavia tribunal and was arrested in May this year.

Freed Egyptians tell of torture in Libyan jails

 

With drawn and gaunt faces, some 30 Egyptians holed up in a modest Libyan hotel speak of the incarceration and torture they suffered at the hands of Muammar Gaddafi’s loyalists. “They told me, ‘You Egyptians, you caused problems in your country, and now you have come to destroy ours’,” said Mahmud Abu Zeid, referring to the popular uprising that ousted neighbouring Egypt’s president Hosni Mubarak in February. “They wanted me to say that I was armed and had encouraged Libyans to rise up against Gaddafi,” he said. The 31-year-old said he was the first Egyptian to have been jailed in Abu Slim, a district of Tripoli that saw some of the fiercest fighting and worst atrocities before Gaddafi lost his grip on the capital late last month. Abu Zeid said the Gaddafi loyalists forced the Egyptians to record confessions that they had triggered the revolt against his regime, before they were eventually freed by revolutionary fighters. “For five months, they gave electric shocks to my son. I was so weak that I was unable to walk, so they dragged me like a sack,” he said, adding, “I ended up recording their message.” Under pressure he “confessed” to having used guns to encourage Libyans to call for the ouster of Gaddafi, he said, adding however that the Libyans who heard the recordings were not fooled. Abu Zeid’s account tallied with that of other refugees at the hotel in Benghazi, the rebellion’s stronghold in eastern Libya, some 600 kilometres (370 miles) from their homeland. “They gave out bread by kicking it at us, and we had a litre (two pints) of water to be shared among a dozen prisoners,” said another Egyptian man who added that he had been shot twice in the leg. It was still difficult for him to walk. Like him, other men in the hotel showed scars and burn marks on their backs they said were the result of torture. Tamer Rad, an Egyptian labourer who worked in Libya for two years, said he had been forced to to drink urine when he asked for water. “I was really thirsty. I asked for water, crying. They told me ‘You want to drink? Here!’ And they poured urine into my mouth. I was handcuffed, I could not resist so I had to drink it,” he said. The 26-year-old said the Egyptians had been stuck in Benghazi for several days and that he now had only one thought — of leaving Libya and returning to Egypt. The group said they fled to Benghazi after being freed on August 21 when anti-Gaddafi fighters broke open several jails as they overran Tripoli. And they had been unable to move on because, they said, the Gaddafi loyalists burned their travel documents and they are unable to contact the Egyptian embassy in Libya. On Monday, the Egyptian foreign ministry said the men would be repatriated on the same day, explaining that they had been forced to stay in Libya after the fall of the regime due to “insecurity on the roads” and the closure of airports.

Thursday, 8 September 2011

Citigroup banker faces 30 years in jail after admitting $22m fraud

 

Former Citigroup banker Gary Foster has pleaded guilty to embezzling $22m (£14m) from the bank, money he spent on a lavish lifestyle of fast cars and fancy apartments. He faces up to 30 years in jail. The 12-year Citigroup veteran spent hundreds of thousands on cars including a Ferrari and a Maserati Gran Turismo, even though he is legally blind and was unable to drive them. He hired a chauffeur. Foster, 35, was arrested in June at John F Kennedy Airport as he was getting off a flight from Bangkok. He had quit the bank in January before Citi had uncovered his scheme. A former treasury finance department executive, Foster earned $100,000 a year managing internal investments at the bank. Prosecutors said his scheme began in September 2003 and continued into 2011. He wired the money from internal Citi accounts into his personal bank account and covered up his tracks by assigning phony contract or deal numbers to the transfers to make them appear bona fide. According to prosecutors, between July and December 2010, he moved around $14.4m from Citigroup's debt adjustment account and $900,000 from the bank's interest expense account to his personal account in eight separate wire transfers. In a single transfer, on 8 November, he is alleged to have wired himself $3.9m. The US Attorney's Office in Brooklyn has already seized $16m in assets including his cars, an exclusive apartment in Manhattan's Rockefeller Centre, an apartment in Brooklyn and mansion in Englewood Cliffs, New Jersey. "The defendant violated his employer's trust and stole a stunning amount of money over an extended period of time to finance his personal lifestyle," said US attorney Loretta Lynch. "We will vigorously investigate and prosecute such conduct and seek to recover as much of the proceeds as possible."

American Banker Shows DOJ Sat On a Bank-Kickback Scandal

 

Jeff Horwitz has a big scoop in today’s paper, reporting on a HUD investigation that says banks forced mortgage insurers to pay them $6 billion in kickbacks over ten years. HUD’s inspector general tied a bow on the case and presented it to Obama’s Department of Justice, which has sat on it for two years now. It’s just the latest example of the Obama administration not going after the banks. Here’s the gist: Most homebuyers don’t put 20 percent down and banks require them to buy mortgage insurance from third parties to cover their risk. In the 1990s, banks started requiring insurers to pay them to reinsure the loans. Reinsurance is basically insurance for insurance companies, and if a deal isn’t crooked, the reinsurer will be compensated based on the risk it takes. But there was a major market flaw here (and an antitrust issue, if you think about it)—Banks control who gets to insure mortgages—and they took full advantage of it, naturally. If a PMI company resisted paying kickbacks—or didn’t want to pay a higher level of bribe—the bank would take its mortgages to someone who would. HUD’s IG says they gouged the PMI companies and consumers: Documents from the investigation show that the inspector general’s staff concluded that banks and insurance companies had created elaborate financial structures that had the appearance of reinsurance but failed to transfer significant amounts of risk to their bank underwriters. Some of the deals were designed to return a 400% profit on a bank’s investment during good years and remain profitable even in the event of a real estate collapse. Making matters worse, banks allegedly forced unknowing consumers to buy more insurance than they needed and failed to properly disclose the reinsurance agreements, another RESPA violation. But AB’s excellence here isn’t just the scoop, nice as that is. Horwitz and the Banker do a very good job explaining a somewhat complicated topic. This piece could have got bogged down in the details of the arcane world of captive mortgage reinsurance, but it doesn’t. That’s no small thing. There are a couple of other interesting points here, including this statement from Wells Fargo: Wells Fargo said in a written statement to American Banker that risk was split equitably under its contracts with mortgage insurers. It further denied that its captive mortgage reinsurance arrangements had ever been under HUD investigation. “It is simply not true that Wells Fargo has ever been the subject of a HUD investigation involving either our captive reinsurance programs or our relationships with any private mortgage insurance company,” the statement says. The Banker nicely places these graphs directly after a quote from the HUD investigation of Wells. It also reports that HUD found that “Nearly all loan files reviewed show borrowers with excessive coverage placed on their loan.” Banks gouged consumers on mortgage insurance because they were getting a taste. Actually, a 40 percent cut with 10 percent of the risk is more than a “taste.” “Half” would be more like it. At some point when you sit on a slam-dunk case like this long enough, it starts smelling pretty bad, particularly when your administration has bailed out and protected them at almost every turn, and you’ve recently been exposed pressuring other law-enforcement agencies to ease up on the banks.

Corruption scandal plunges Kuwait into deep crisis

 

The wealthy Gulf state of Kuwait appeared headed Thursday for a major political crisis over allegations of corruption involving several members of Parliament and former ministers. Media reported that a number of banks planned to refer as many as 15 MPs and possibly former ministers to the public prosecution to investigate "suspicious" huge cash deposits into their accounts. Citing informed sources, Al-Rai daily said local banks are likely to refer between 15-20 MPs in the 50-member parliament to public prosecution to probe money-laundering suspicions. It said a number of former ministers could be involved in the scam. State Minister for Cabinet Affairs Ali al-Rashed denied late Wednesday reports that incumbent ministers were involved in the alleged scandal. The government has instructed the central bank and the finance ministry to "take all necessary legal measures" to deal with the allegations. The scandal, as opposition MPs describe it, was exposed by Al-Qabas newspaper in an unsourced report two weeks ago that cash funds totaling 25 million dinars ($92 million/65.4 million euros) had been deposited into the accounts of two MPs. The report claimed the deposits were linked to domestic political events including grillings, indicating that the deposits were used to buy the support of the lawmakers in crucial voting in parliament. Independent Shiite MP Hassan Jowhar expected the issue to develop into a major political crisis that will lead to dissolving parliament and calling for snap polls, the fourth since May 2006. Youth activists campaigning to oust Prime Minister Sheikh Nasser Mohammad al-Ahmad Al-Sabah, a senior member of the ruling family, plan to stage a new rally on September 16 and the corruption charges could energize them. Kuwaiti opposition MPs demanded recalling parliament from summer recess for an emergency session on September 22 to review government measures on the allegations and debate and pass a number of anti-corruption laws.

Shameful phone hacking scandal forces change inside the Murdoch bunker

 

A community with a voracious appetite for scandal, it does appear we are experiencing Murdoch news fatigue. Like frogs in boiling water, we are losing sensitivity to the barrage of sensational News Corp instalments flowing from the phone hacking affair. On Tuesday, two former News International managers - head of legal affairs Tom Crone and News of the World editor Colin Myler - told a British parliamentary committee that James Murdoch had been made aware of widespread phone hacking despite his written statement to the contrary. The testimony was another milestone in the series of explosive revelations of systemic criminal phone hacking which had been going on for years but allegedly covered up by a corporate and police conspiracy. Advertisement: Story continues below Since the hacking affair was blown open, there has been a myriad of developments from the company, government and police - many of them astonishing. Much of this is highly significant to the Murdoch empire, and the ramifications have been difficult to digest. This shameful episode has changed the News Corp organisation and Rupert Murdoch's management style. In a corporate sense, the decision by Murdoch to undertake a $US5 billion ($4.7 billion) share buyback is, on its own, momentous. Aggressive expansion of the News Corp empire has been a hallmark of Murdoch's modus operandi. The decision to undertake a capital management program that allocated cash to shareholders rather than to acquisitions marks a major departure. The focus of News Corp's strategy in the past has been on raising funds and using available cash to expand, and avoiding the dilution of Murdoch family control. This was never more evident than in the creation of News Corp non-voting stock and the move to domicile the company in the lax regulatory jurisdiction of Delaware. The only other incidence of Rupert Murdoch bowing to outside pressure was in the early 1990s, when the Pittsburgh Bank famously forced News Corp to the brink of bankruptcy by threatening to block the rollover to a new debt package. News Corp has otherwise been run by Rupert Murdoch and in his way. The notion of appeasing minority shareholders is new to Murdoch, as is divorcing the hard-wired nepotism.

Amelia Hill was questioned under caution by police in an inquiry into alleged leaks of information from Operation Weeting

amelia-hill-guardian-police
. Photograph: Katherine Rose

The National Union of Journalists and a respected media watchdog have criticised the questioning of a Guardian journalist in an inquiry into alleged leaks of information from Operation Weeting, the investigation into phone hacking at the News of the World.

It emerged on Wednesday that Amelia Hill, a reporter involved in a number of the Guardian's key phone-hacking revelations over recent weeks, was questioned under caution several days ago in a case that raises concerns about attempts to criminalise contact between journalists and off-the-record sources.

Last month a 51-year-old detective constable was arrested in connection with alleged leaks from the Scotland Yard phone-hacking investigation. At the time there were reports that the officer had passed information to the Guardian, but the newspaper said it had "no comment to make on the sources of our journalism".

Michelle Stanistreet, the general secretary of the National Union of Journalists, said that there was "a vital journalistic principle at stake here" and that "it is outrageous that an allegation of off-the-record briefings is being treated as a criminal matter".

She added: "There is a clear distinction between legitimate off-the-record interviews and the illegitimate payment of bribes."

Martin Moore, the director of the media watchdog the Media Standards Trust, said that in the light of the phone-hacking scandal it was becoming "increasingly important to sustain and defend journalism in the public interest". He said that it was "not the time to be threatening public interest journalism" by the police moving to question reporters such as Hill.

The Guardian said in a statement: "We can confirm Amelia Hill has been questioned in connection with an investigation into alleged leaks." The newspaper argued that the case could have lasting repercussions for the way journalists deal with police officers. The statement added: "On a broader point, journalists would no doubt be concerned if the police sought to criminalise conversations between off-record sources and reporters."

Although the paper said it would not comment on any specific confidential source, a spokesman said Hill had never paid a police officer for information.

The police investigation into leaks from Operation Weeting has been going on for several weeks.

Meanwhile, Raoul Simons, 35, the deputy football editor of the Times, became the 16th person to be arrested as part of the phone hacking enquiry.

Simons, who had joined the Times from the Evening Standard in August 2009, is understood to have been arrested at 5.55am on suspicion of conspiring to intercept communications. He was released on police bail until a date in October.

He was not arrested by prior appointment. He was taken to a north London police station and questioned on suspicion of conspiracy to intercept voicemail messages, contrary to Section 1 (1) of the Criminal Law Act 1977.

Hill's police interview comes amid growing pressure to clamp down on contacts between officers and journalists following the News of the World phone hacking scandal, which has spread out into wider allegations of police corruption.

Emails from News International allegedly imply that journalists on the now closed Sunday tabloid bought copies of Buckingham Palace's private phone directory from a royal protection officer.

Following those revelations, an inquiry by Her Majesty's Inspectorate of Constabulary is examining "alleged corruption and abuse of power" in police relationships with the media, and Elizabeth Filkin, the former parliamentary commissioner for standards, heads a group drawing up a framework for how police officers handle their relationships with reporters. Both inquiries are considering whether communication between police officers should be officially monitored and recorded by a press officer.

The questioning of Hill has similarities to a case police mounted against Sally Murrer, a reporter on the Milton Keynes Citizen, and a former Thames Valley police detective, Mark Kearney, which was thrown out. Kearney had been accused of leaking information to Murrer. The collapse of the case was widely seen as a victory for journalistic freedom.

It was reported meanwhile that Andy Coulson, the former editor of the News of the World and the prime minister's former personal communications director, is refusing to appear before a Commons select committee that is investigating phone-hacking.

His solicitors have written to the culture, media and sport committee declining an invitation to appear, citing "concerns" about "parallel inquiries and investigations and the publicity generated by them".

He has consistently denied knowing that phone hacking took place but last month a previously unseen letter from Goodman emerged that claimed phone hacking was "widely discussed" at editorial conferences until Coulson banned mentions of it. Goodman's letter also claimed that Coulson had offered to let him keep his job if he agreed not to implicate the paper in hacking when it came to court.

Coulson resigned from the News International paper in 2007 after its former royal editor Clive Goodman was jailed on phone-hacking offences.

It also emerged yesterday that MPs on another committee have been told that News International asked a technology firm, HCL, to delete emails and other documents 13 times since 2009.

Technology company HCL, which provides services under contract to News International, informed the Commons home affairs committee in August that it was aware of the deletion of hundreds of thousands of emails on nine occasions between April 2010 and July 2011, but said it did not know of anything "untoward" behind the requests. Yesterday, HCL's solicitor, Stuart Benson, contacted the committee again to say that a further four requests had come to light - one of which related to the deletion of emails from an inbox of a user who had not accessed his account for eight years.

Wednesday, 7 September 2011

Parents appear in court on murder charge

 

The parents of Bradford-born suspected honour killing victim Shafilea Ahmed appeared in Court today, accused of her murder – eight years after she disappeared from her home. Iftikhar Ahmed, 51, and Farzana Ahmed, 48, appeared before magistrates to face the charge of killing their teenage daughter. Shafilea, 17, vanished from her home in Warrington, Cheshire, in September 2003 amid fears she was being forced into marriage. Her decomposed remains were discovered on the banks of the River Kent, near Kendal in Cumbria, in February 2004. Her parents were today remanded in custody when they appeared before Halton Magistrates' Court in Runcorn, Cheshire.

'Terrorist' Attack Hits New Delhi

 

Indian authorities say a terrorist attack outside the Indian high court in New Delhi killed at least 11 people and injured 66 others. Police believe the explosive was placed inside a briefcase near a main gate to the high court in New Delhi.  The blast is being described as a "medium-intensity bomb." Injured were rapidly transported to area hospitals and police cordoned off the area to begin an investigation. Speaking from Bangladesh, Indian Prime Minister Manmohan Singh was quick to label the explosion an act of terror. "This is a cowardly act of a terrorist nature... All the people of India have to stand united so that the scourge of terrorism is crushed," he said. Indian Home Minister P. Chidambaram visited the bomb site and says top national investigation teams are examining evidence. "At this stage, it is not possible to identify the group that caused the bomb blast," he said. There have been no claims of responsibility. Chidambaram reminded lawmakers that New Delhi is a target of terrorist groups, especially when parliament is in session. "We shall never be intimidated by terrorist groups," he said. "We are determined to track down the perpetrators of this horrific crime and bring them to justice." In New Delhi, there have been 15 bombings since 1997. For many, Wednesday's explosion also called up fresh memories of July's serial bombing in the southern Indian commerce capital, Mumbai, which killed 20 people.

Tuesday, 6 September 2011

Former executives challenge Murdochs' testimony

 

Jonathan Chapman, the former director of legal affairs with News International, said Rupert Murdoch wasn't being accurate when he told Parliament that he blamed the London law firm Harbottle & Lewis for failing to uncover the scope of the hacking scandal back in 2007. News International is the British arm of Murdoch's global News Corp. media empire. "I don't think Mr. Murdoch had his facts right," Chapman told lawmakers. "He was wrong." Chapman was one of four executives fielding questions from Parliament's media committee about what they knew and when — and all have already cast doubt on key aspects of the testimony given by the Murdoch family earlier this summer. The hacking scandal has decimated Murdoch's British newspaper arm, leading to the closure of its top-selling Sunday tabloid, News of the World, and the arrests of more than a dozen journalists. It's also rocked the top levels of Britain's political and police elite. Andy Coulson, a former News of the World editor and until recently one of Prime Minister David Cameron's top aides, has resigned — as have the two top officers with Scotland Yard. Coulson was one of 15 people arrested. Media committee chairman John Whittingdale says the latest hearing aims to uncover the truth about a critical piece of evidence, unearthed in 2008, suggesting that voicemail interception at the News of the World was far more widespread than the tabloid claimed at the time. Questions about who saw the evidence are critical to establishing whether there was an attempt to cover up the scale of illegal behavior at the now-defunct tabloid. The News of the World stands accused of spying on a host of politicians, celebrities, top athletes, crime victims and even terrorism survivors by systematically intercepting voicemail messages in an effort to get scoops. Allegations of computer hacking and police bribery are also being investigated by Scotland Yard. The evidence in question was an email carrying the transcript of an illegally intercepted conversation and marked "for Neville" — an apparent reference to the News of the World's chief reporter, Neville Thurlbeck. Because it apparently implicates others in the hacking, the email has the potential to undermine News International's fiercely held contention that one reporter alone, Clive Goodman, had engaged in phone hacking. If Rupert Murdoch's son James knew about the email — and was aware of its implication — it would lend weight to the suggestion that he had approved a massive payoff to one employee in an effort to bury the scandal. James Murdoch has said earlier that he was not aware of the email at the time, but former News International legal adviser Tom Crone and Colin Myler, a former editor at News of the World, contradicted him in Tuesday's testimony. "I told him about the document," Crone insisted, adding there could be no doubt that "this document meant that News of the World had a wider problem and that we had to get out of it." Daniel Cloke, News International's former personnel director, also contradicted James Murdoch's contention that he and Chapman had approved the massive compensation awarded to Goodman, the disgraced reporter. One lawmaker has alleged that payment was made to buy Goodman's silence about the scale of phone hacking at the paper. Cloke and Chapman said it was Murdoch's right-hand man, Les Hinton, who signed off on the quarter million pound payout. Hinton, the publisher of The Wall Street Journal, was the most senior Murdoch executive to resign in the hacking scandal.

Domestic helps’ accomplices prime suspects:

 

The two accomplices of the two domestic helps arrested for the murders of Juhu resident Kavita Suchak and her manager Prakash Bagwe on August 30 were the masterminds behind the murders said investigators, a day after arresting all four, two from Navi Mumbai and two from Nanded. Based on the investigations, police said the two domestic helps identified as Ram Singh Badaila and Tek Singh Badaila, also have a past crime record. According to Vishwas Nangre-Patil, Additional Commissioner (West region), the police are now compiling a database of domestic helps working in each society in the western region and their backgrounds would be checked. However, the victim had not verified the backgrounds of the two before hiring them, which made it difficult to trace them, said Nangre- Patil. The police arrested the Badailas and their accomplices from Navi Mumbai on Saturday. Nangre- Patil further said that the two Nepali nationals had been working for the Suchaks for the past five years. They had come in contact with two of their friends, Prem Bahadur Badaila and Bhim Bahadur Beek over the years. “The Suchaks owned a traditional safe in the house, apart from an electronic vault. The domestic helps hoped to find a large sum of money in the traditional safe. But the safe was empty as it was only maintained as a showpiece and as a object of faith. The gang bludgeoned Kavita with a crowbar when she returned home after dropping her kids to school a few minutes earlier than her usual schedule on August 30. Bagwe was strangled and gagged by the accused, as he had witnessed Kavita's murder and raised an alarm," Nangre-Patil added. The gang stole a laptop, three cellphones, jewellery and cash, collectively worth Rs 1.24 lakh. After leaving Kavita's house, the gang split up. Prem headed to Nerul in Navi Mumbai while the other three went to Pune. From Pune, they went to the house of a relative, Dev Bahadur, in Nanded. The police tracked down Prem first, by tracing the location of the stolen cellphones. “One of our teams went to Nepal and with the help of BSF kept a watch on the border to stop the accused from leaving the country. Another team went to Nanded with Prem,” said Pratap Dighavkar, Deputy Commissioner of Police (zone IX). Dressed in plainclothes, the policemen accompanied Prem to Dev Bahadur's house. “We did not want to reveal that Prem had been arrested, so we let him walk alone towards the house. Dev Bahadur came out of the house and Prem signaled to us that he was not a part of the gang. Prem then led us to Bhim who had sat in an autorickshaw and to Ram and Tek who were hiding in a water pipeline,” an official said. Bhim was arrested in the past for two cases of theft while Prem was booked for assaulting a government servant at MIDC. “The robbery at Suchak's residence was planned in detail. Bhim purchased a rope, crowbar, screwdriver and tape from Andheri. Tek who had keys to the vault was assigned the job of cleaning up the house while Ram kept watch. Prem and Bhim hid inside the house and struck after Kavita left for dropping her kids to school around 8.15 am,” an official said. So far, Rs 80,000 in cash has been recovered, besides some ornaments. The laptop was destroyed by the gang. “We are now trying to ascertain whether the Rs 80,000 is from the Suchak residence or elsewhere,” said Nangre-Patil.

70 stabbings in public view! Gruesome gang murders man in Ahmedabad

 

Yafizuddin Sheikh, a resident of Juhapura, was brutally killed when some people repeatedly ran a car over him and then stabbed him over 70 times on Friday night in Amraiwadi. Sheikh's assailants continued to stab him till he succumbed to his wounds on the spot. A murder complaint has been filed with the Amraiwadi police against members of the Daddu gang for the gruesome murder. Yafizuddin and another man Mohammad had gone to Bal Bhavan in Khokhra to meet his friend, one Harish Darbar alias Harry in their Maruti Esteem car.While the victim waited there to meet his friend, a group of people, in a Santro car, rammed into Yafizuddin. They then reversed the car and ran it over him again repeating the process thrice. They then came out and stabbed Yafizuddin so much so that he had around 70-odd stab wounds on his body when he died. The victim cried for help but a crowd that had gathered to make arrangements for the ongoing Ganesh Chaturthi did not bother to intervene. The people were allegedly afraid of the Daddu gang that is very notorious in the area for its anti-social activities. The attackers were identified as Daddu Vaghela, his nephew Divyaraj aka Montu along with Naresh Thakor alias Jigo, Rahul aka Chako, Suresh Thakor and Rakesh Bihola. Two more men on a motorcycle also accompanied them. They were identified as Prakash aka Kaaniyo and Rahul aka Kalu Bhil. Two others, who were also involved in the incident, remained unidentified. Daddu Vaghela is a notorious bootlegger of the city and along with his gang has around 21 cases registered against him. Vaghela is wanted by the cops in at least 11 cases from the same area. According to the complaint, the gang attacked the already injured Yafizuddin with their weapons and inflicted 70-odd wounds all over his body. The victim lay in a pool of blood before breathing his last. Police said that the incident was a fall out of a scuffle between Daddu gang and Harry. The victim had come to his friend Harry's rescue during the scuffle.Teams of detection of crime branch reached the scene to investigate the matter following direct orders from the city police commissioner.

The new Libya won't trust Britain so easily now | News

 

The documents revealing the cosy relationship between top British and Libyan intelligence officials are embarrassing not just because they confirm Britain's rendition of Islamist terror suspects, including Abdel Hakim Belhadj, the Transitional National Council's new security commander in Tripoli, but also because they lend credence to Britain's reputation as a slippery operator in the Middle East. David Cameron's support for the TNC was meant to gain souk cred by tying Britain's banner to the spirit of the Arab Spring. Cameron has said the new documents should be examined by the independent Detainee Inquiry, chaired by Sir Peter Gibson. They show how keen Tony Blair was to bring Gaddafi into the fold following Saddam Hussein's fall in April 2003 and to trade an end to Libya's pariah status in return for help in the war against terrorism. There was little wrong with that. What is sickening is the extent to which Britain sought to ingratiate itself by delivering up Gaddafi's opponents. No less disturbing is the manner in which Britain's cosying up to Gaddafi has been represented as a mistake by misguided individuals, for which institutions such as the London School of Economics have suffered. Perhaps the most fascinating new document was sent on March 18, 2004 to Musa Kusa, head of Libyan intelligence, by Mark Allen, MI6's director of counter-terrorism, who crowed about Belhadj's rendition while arranging a forthcoming visit by Blair to Libya. A week later Gaddafi welcomed the British PM in his Tripoli tent (as requested by Allen for publicity reasons). It is difficult to say who was the greater showman: the unctuous Blair or Gaddafi joking how his Third Universal Theory, the basis of his Green Book, paved the way for Blair's Third Way politics. Within two months, Allen was pipped as the next MI6 head by John Scarlett, who, two years earlier, as chief of the Joint Intelligence Committee, had backed Blair's argument that Saddam had dangerous weapons of mass destruction. Allen left the SIS shortly afterwards. For Middle East watchers, an interesting outcome has been these glimpses of intelligence machinations in this most secretive of regions. A Le Carré of the al Qaeda conflict will surely follow. It is Cameron who now has to deal with the practical consequences. The ultimate fate of Gaddafi and his family is out of his hands. But Britain has tough decisions to make about other players, including Musa Kusa, who defected from Libya in March, came to Britain, and was last heard of in a Qatar hotel. In 1980 he was expelled from Britain for advocating the murder of Libyan dissidents. For this and his wider role in Libyan terrorism, many powerful voices argue that he should be tried in Britain. But, even at this stage, it may be that he has too much to reveal. More immediately, the Prime Minister needs to assess the role of former Islamists such as Belhadj in the new regime and take appropriate measures. It will not be enough to kick the rendition issue into the long grass by referring it to the Gibson inquiry, which has yet to begin its work. If David Cameron hoped for an easy ride in post-Gaddafi Libya, these papers have disabused him of that notion.

former MP Margaret Moran, who is to face 21 charges in relation to claims she made for parliamentary expenses.

File photo of former MP Margaret Moran
File photo of former MP Margaret Moran, who is to face 21 charges in relation to claims she made for parliamentary expenses. Photograph: Michael Stephens/PA

The former Labour MP who claimed for dry rot treatment on a home more than 100 miles from her constituency will be charged with fiddling her expenses by more than £60,000, prosecutors said today.

Margaret Moran, one of the last politicians investigated over the scandal, will appear before magistrates facing 21 charges relating to her parliamentary claims.

Moran, former MP for Luton South, will appear before City of Westminster magistrates' court on 19 September, the Crown Prosecution Service said.

police have released images of 28 suspects they want to question about serious street disorder that “wreaked havoc” across Northern Ireland

The police have released images of 28 suspects they want to question about serious street disorder that “wreaked havoc” across Northern Ireland.

Detectives from a specialist public order inquiry team are hoping the public will help them identify the men in these images as part of their investigations into rioting in east Belfast and Ballyclare during June and July.

Three people were shot during three nights of sustained sectarian violence at an interface on the Lower Newtownards Road in Belfast in June.

In Ballyclare six officers sustained whiplash when a hijacked bus rammed a police vehicle during riots that erupted after Union and paramilitary flags were removed from lampposts in July.

Assistant Chief Constable Alistair Finlay said the response from the public appeals to date had been “positive”.

A second tranche of photographs will be released on Thursday showing suspects police want to speak to in connection with rioting in north and west Belfast during July.

Last month all of Northern Ireland’s main news organisations wrote to the PSNI Chief Constable to protest at having to hand over riot footage of trouble in east Belfast.

The letter highlighted to Matt Baggott the “genuine fear that terrorists and rioters will target the media whom they perceive to be evidence gatherers for the State” if the PSNI continues to demand the disclosure of material gathered for news purposes.

The PSNI has declined to comment on the source of these latest images.




TV cameras to be allowed into criminal trials

 

David Cameron is expected to pave the way for the historic move in a long-awaited speech on crime planned for later this month. However, the televised coverage is expected to be limited and will not allow cameras to record witnesses giving evidence as occurs in America. Television cameras are currently banned from most courts in England and Wales although the proceedings of the new Supreme Court - the top court of appeal which replaced the law lords - can be broadcast. Some Scottish court cases are also televised, including proceedings involving Abdelbaset al-Megrahi, the Lockerbie bomber. The decision to allow limited broadcasting in other criminal cases is set to spark debate.

MPs will test James Murdoch's assertion he knew nothing about a crucial email in the phone-hacking scandal when they quiz former News Of The World executives today.

 

The News International chairman has reportedly cancelled a trip to Asia to monitor first-hand what is said at the select committee hearing. When James Murdoch appeared with his father Rupert before the Culture, Media and Sport committee in July, he was asked if he knew about a document known as the "for Neville" email. This email has been seen as critical to the hacking inquiry. It indicates that the practice of hacking was more widespread than News International originally admitted. James Murdoch said he was unaware of the document at the time he sanctioned a payout to the Professional Footballers' Association chief Gordon Taylor, whose phone was hacked by the News of The World. His denial of knowledge of the email was subsequently contradicted by Colin Myler, the NOTW's last editor, and the paper's former lawyer Tom Crone, both of whom will give their side of the story to the committee. Daniel Cloke, ex-HR director at NI, and Jon Chapman, NI's former head of corporate and legal affairs, are also due to appear. Mark Lewis, who represented Mr Taylor when he won his payout from the NOTW, said if today's evidence finds James Murdoch knew about the email it could be the end of him.

Google will rock you: 'Doodle' celebrates Queen's late frontman

 

Google users around the world were rocking out to Queen on Monday -- except for in the U.S., where search engines will remain quiet until Tuesday. Monday would have been the 65th birthday of Queen singer Freddie Mercury, the flamboyant, four-octave frontman who penned such enduring hits as "Bohemian Rhapsody" and "We Are the Champions." To commemorate the day, Google added an animated doodle to its search page -- an appropriately over-the-top video clip set to Queen's "Don't Stop Me Now" that shows Mercury morphing into a space traveler, a bicyclist and a king on a throne flanked by lions and mustachioed bears. As a nod to Queen's '70s-and-early-'80s-heyday, parts of the video have a retro, arcade-game style. The doodle was showcased on Google's homepages around the world -- except for in the U.S., where, out of respect to the Labor Day holiday, the page remained unadorned. Google planned to display the doodle in the U.S. Tuesday. "Freddie was fully focused, never allowing anything or anyone to get in the way of his vision for the future," writes Queen guitarist Brian May in a guest Google blog post accompanying the doodle. "He was truly a free spirit. There are not many of these in the world. To achieve this, you have to be, like Freddie, fearless -- unafraid of upsetting anyone's apple cart." Mercury was born September 5, 1946, in Zanzibar, which is now part of Tanzania, and moved to Britain as a teen-ager before joining Queen in 1971. He led the band through its 15-year run of radio smashes ("We Will Rock You," "Another One Bites the Dust") and operatic live shows. He died in 1991 at age 45 of an AIDS-related illness. Earlier this year readers of Rolling Stone voted Mercury their second-favorite lead singer of all time, behind Robert Plant. Google has been increasingly brightening its plain-wrapper homepage in recent years with colorful doodles, including animated clips honoring the birthday of silent-screen star Charlie Chaplin and a playable game to mark the 30th anniversary of the Pac-Man arcade classic.

Google, Mozilla and Microsoft have banned the DigiNotar Certificate Authority in their browsers.

 

With the DigiNotar saga continuing, it’s time to summarize some of the current events surrounding it.

According to multiple blog posts, Google, Mozilla and Microsoft have already banned the DigiNotar Certificate Authority in their browsers. This preemptive move comes as a direct response to the mess that DigiNotar created by issuing over 200 rogue certificates for legitimate web sites and services — see a complete list of the affected sites and services.

Earlier this week, Google reported of attempted man-in-the-middle attacks executed against Google users, and most recently, TrendMicro offered insights into a large scale spying operation launched against Iranian web users.

According to TrendMicro:

From analysis of Smart Protection Network data, we see that a significant part of Internet users who loaded the SSL certificate verification URL of Diginotar were from Iran on August 28, 2011. On August 30, 2011 most traffic from Iran disappeared and on September 2, 2011 about all of the Iranian traffic was gone and Diginotar received mostly Dutch Internet users, as expected.

These aggregated statistics from Trend Micro Smart Protection Network clearly indicates that Iranian Internet users were exposed to a large scale man-in-the-middle attack, where SSL encrypted traffic can be decrypted by a third party. For example: a third party probably was able to read all e-mail communication an Iranian Internet user has sent with his Gmail account.

Meanwhile, the Dutch government issued a statement saying that it “cannot guarantee the security of its own websites” and is “taking over the company’s (DigiNotar) operations.”

“the user of government sites no longer has the guarantee … that he is on the site where he wanted to be,” Interior Minister Piet Hein Donner said at a pre-dawn press conference.

Moreover, Illinois-based VASCO, which owns the Dutch-based DigiNotar issued the following statement:

DigiNotar detected an intrusion into its Certificate Authority (CA) infrastructure, which resulted in the fraudulent issuance of public key certificate requests for a number of domains, including Google.com. Once it detected the intrusion, DigiNotar has acted in accordance with all relevant rules and procedures. At that time, an external security audit concluded that all fraudulently issued certificates were revoked. Recently, it was discovered that at least one fraudulent certificate had not been revoked at the time.  After being notified by Dutch government organization Govcert, DigiNotar took immediate action and revoked the fraudulent certificate.

Who’s behind the attacks? According to the Tor Project, clues were found in one of the certificates, including messages in Farsi:

Giant saltwater crocodile weighing more than a tonne was captured in a remote Philippine village following a spate of attacks on humans

 Giant saltwater crocodile weighing more than a tonne was captured in a remote Philippine village following a spate of attacks on humans and livestock, officials said Tuesday.

The 21-foot (6.4-metre), 1,075-kilogramme (2,370-pound) reptile may have eaten a farmer who went missing in July, along with several water buffaloes in the southern town of Bunawan, crocodile hunter Rollie Sumiller said.

A crocodile also bit off the head of a 12-year-old girl in Bunawan in 2009, according to the environment ministry.

Josefina de Leon, wildlife division chief of the environment ministry's protected areas and wildlife bureau, said it was likely the biggest crocodile ever captured.

"Based on existing records the largest that had been captured previously was 5.48 metres long," she told AFP.

"This is the biggest animal that I've handled in 20 years of trapping,"

Sumiller added, estimating the male to be more than 50 years old.

"The community was relieved," he told AFP, but added: "We're not really sure if this is the man-eater, because there have been other sightings of other crocodiles in the area."

The team, employed by a government-run crocodile breeding farm, began laying bait using chicken, pork and dog meat on August 15, but the reptile simply bit off both meat and line the it was skewered on.

An eight milimetre (0.31-inch) metal cable finally proved beyond the power of its jaws and the beast was subdued at a creek on Saturday with the help of about 30 local men.

The local government decided against putting down the reptile and will instead use him as the main attraction at a planned nature park in the area.

"He's a problem crocodile that needs to be taken from the wildlife so that it can be used for eco-tourism," Sumiller said.

Crocodylus porosus or estuarine crocodile is the world's largest reptile that usually grows to five or six metres long and can live up to 100 years.

While not considered an endangered species globally, it is "critically endangered" in the Philippines, where it is hunted for its hide to feed the fashion industry, de Leon said.

Grilling for phone hack witnesses

 

Four former News International executives will face a fresh round of questioning from MPs over the phone-hacking scandal. The Commons Culture, Media and Sport committee will quiz the News of the World's former editor Colin Myler and ex-legal manager Tom Crone after the pair publicly challenged evidence given by James Murdoch over his knowledge of the illegal practice. News International's former director of legal affairs Jonathan Chapman and Daniel Cloke, former group HR director, will also appear before the committee as the probe into the scandal is resumed following the summer recess. Mr Myler and Mr Crone have been summoned before MPs for the second time after publicly disputing claims made by Mr Murdoch earlier in the Parliamentary inquiry. The News International chairman told the committee he was not made aware of an email in 2008 indicating that the practice of illegally intercepting voicemails was not confined to a single "rogue" reporter. But the two former Sunday tabloid executives insist that they told him about the message in June of that year. The panel of MPs could now recall Mr Murdoch "depending on their evidence under questioning". Committee chairman John Whittingdale said the latest round of questioning was an attempt to uncover the truth in the "continuing difference in the accounts of James Murdoch and Tom Crone and Colin Myler about whether or not James Murdoch was aware of the so-called 'for Neville' email". The 2005 email contained transcripts of hacked phone messages and was headed "for Neville", in an apparent reference to the News of the World's then-chief reporter Neville Thurlbeck. Its existence came to light in April 2008 when Professional Footballers' Association chief executive Gordon Taylor brought a damages claim against the paper over the interception of his voicemail.

Monday, 5 September 2011

Eurozone woe fuels fresh market chaos as banks bear the brunt of a global stock rout

 

Britain's banks bore the brunt of a global stock market rout amid escalating concerns over the eurozone debt crisis and further signs of strain in wholesale money markets. More than £10bn was wiped off the value of Britain’s five biggest lenders as key inter-bank borrowing costs climbed to levels not seen since the height of the 2008 crash. Royal Bank of Scotland lost an eighth of its value, tumbling 3.06p to 21.78p, amid fears that it could be facing a bill of as much as £3.7bn from US sub-prime mortgage lawsuits. Plunge: More than £10bn was wiped off the value of Britain’s five big banks Lloyds slumped 2.47p or 7.5pc to 30.65p while Barclays tumbled 11.05p to 154.15p. Following yesterday’s bloodbath, taxpayers are now sitting on a £37.6bn paper loss from their 83pc and 40pc stakes in RBS and Lloyds. Josef Ackermann, the chief executive of Deutsche Bank, warned that the current turmoil was reminiscent of the panic triggered by the collapse of Wall Street giant Lehman Brothers.

Athens, Rome Hold Europe to Ransom

 

Europe is engaged in a high-stakes game of brinkmanship that poses grave risks to the global economy. At last weekend's Villa d'Este Forum in Italy, European policy makers didn't hide their fury at Greece's back-sliding over promised structural reforms and spending cuts. At the same time, Italian ministers undermined the remaining credibility of Silvio Berlusconi's government with a series of complacent speeches. Given such a dangerous breakdown in trust within Europe, investors are right to fear the worst. Germany and its Northern European allies believe only intense market pressure can force weak economies to cut spending and improve competitiveness. But Greece has learned that whenever the crisis in Europe's periphery threatens to overwhelm the core, Europe will ignore previous broken promises and step up with a fresh bailout. Italy now appears to be making the same calculation. The government insists it will fulfill its commitment to balance the budget by 2013, but ministers show no appreciation of the urgent need for structural reforms to address the chronic weakness of an economy that grew on average 0.3% between 2001 and 2010 and experienced a 25% increase in unit labor costs relative to Germany over the same period. Instead, they talk incessantly of euro-zone bonds as a solution to misfortunes they blame largely on external forces. But Italy's dream of euro-zone bonds is likely to remain a fantasy until trust between member states is restored. This no longer depends simply on implementing austerity budgets. Structural reforms have now taken center stage because they are a test of whether the euro zone is worth saving at all: If countries refuse to improve competitiveness, then any attempted solutions to the immediate sovereign-debt crisis will prove short-lived. So what can be done about Greece and Italy? Athens rejects accusations it is dragging its feet but has promised to use a 10-day hiatus in talks with the European Central Bank and International Monetary Fund over progress toward its bailout targets to speed up reforms. If it fails to deliver again, European policy makers now talk darkly of a total loss of fiscal sovereignty. How this might work in practice isn't clear. As for Italy, some now believe its best hope lies with the ECB, which last month threw Rome a life line by agreeing to buy its bonds. If the ECB were to stop buying bonds, the subsequent rise in yields might bring down Mr. Berlusconi's administration, paving the way for President Giorgio Napolitano to appoint a technical government with the constitutional authority to make tough decisions. Then, at least, the long process of rebuilding the credibility of the euro zone's third-biggest economy could begin in earnest.

US recession fears savage world financial markets

 

World stock markets took a beating Monday over fears that the U.S. economy was heading back into a recession just as the European debt crisis was heating up and the eurozone's economic indicators were slumping. A trader works on the floor of the New York Stock Exchange on Friday, Sept. 2, 2011 in New York. The jobs report was the weakest in almost a year. It renewed fears that the U.S. might slip back into recession. (AP Photo/Jin Lee) A man looks at an electronic stock board of a securities firm in Tokyo, Monday, Sept. 5, 2011. Asia-Pacific stocks took a beating early Monday after jobs data out of the U.S. last week revived fears of a recession in the world's largest economy. (AP Photo/Koji Sasahara) More business news In tough economy, multi-job holders grateful for balancing act Delta at center of FAA debate Turkish hackers hit UPS Recession over, jobs still elusive New owner for Atlanta Dream Delta Air Lines news, links Coca-Cola Co. news Health Care Reform coverage Read Henry Unger's Biz Beat blog Any troubles in the world's largest economy cast a long shadow over the markets, and a report Friday that the U.S. economy failed to add any new jobs in August caused European and Asian stock markets to sink sharply Monday. But the news from Europe was also discouraging. Wall Street, which was closed Monday due to the Labor Day holiday, braced for losses Tuesday after the yields in so-called peripheral eurozone countries — Greece, Italy and Spain — rose sharply against those of Germany, whose bonds are widely considered a safe haven. Although retail sales in the 17-nation eurozone rose unexpectedly in July, a survey of the services sector Monday showed a slowdown across the continent for the fifth consecutive month. The purchasing managers' index for the eurozone showed the services sector was still growing — unlike the manufacturing sector — but only barely. That will add pressure on the European Central Bank to keep interest rates on hold when it meets this week. "There's so much uncertainty, so much fear, that investors don't know what to do," said David Kotok, chairman and chief investment officer at Cumberland Advisors. "I don't remember the last time stocks were so cheap and nobody wanted them." Investors were also shaken by signs that the Italian government's commitment to its austerity program is wavering. Prime Minister Silvio Berlusconi's government has backtracked on some deficit-cutting measures, prompting EU officials to urge Italy to stick to its promised plan. The difference in interest rates between the Greek and benchmark German 10-year bonds, known as the spread, spiraled to new records on Monday, topping 17.3 percentage points. Yields on the Greek bonds were above 18 percent. Mario Draghi, the incoming chief of the European Central Bank, told a conference in Paris that among the common currency's problems was a lack of coordinated fiscal policies and that the solution was more integration. He dismissed the idea of eurobonds — debt issued jointly by the eurozone countries. Some have argued this would help weaker countries borrow more easily because they wouldn't have to pay such high interest rates. But stable countries like Germany would likely see their rates rise. Instead, Draghi suggested the eurozone should adopt rules that would require more budget discipline. Renewed jitters over the eurozone debt crisis also contributed to the slump in financial stocks amid concerns the banks would need to raise new capital. Deutsche bank closed down 8.9 percent in Frankfurt, while Societe Generale in Paris shed 8.6 percent. The U.S. unemployment crisis has prompted President Barack Obama to schedule a major speech Thursday night to propose steps to stimulate hiring. Until then, however, traders coming back from the U.S. holiday weekend will have little to hold onto. The August jobs figure was far below economists' already tepid expectations for 93,000 new U.S. jobs and renewed concerns that the U.S. recovery is not only slowing but actually unwinding. U.S. hiring figures for June and July were also revised lower, only adding to the gloom. Many traders have already pulled out of any risky investments — such as stocks, particularly financial ones, the euro and emerging market currencies — and pile into safe havens: U.S. Treasuries, the dollar, the Japanese yen and gold. With Wall Street closed, investors focused their selling in Asia and Europe, where the equity losses Monday were some of the heaviest this year. "We've got some rough riding ahead," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago, adding he was "concerned that we could see a second wave of selling when most traders are back at their desks." Dow futures were down 1.8 percent at 11,010 points while the broader S&P 500 futures were 2.0 lower at 1,145.70. After Asian indexes closed lower, with the Japan's Nikkei 225 shedding 1.9 percent, European shares booked sharp losses. Britain's FTSE 100 closed the day down 3.6 percent to 5,102.58. Germany's DAX slumped a massive 5.3 percent to 5,246.18, and France's CAC-40 tumbled 4.7 percent to 2,999.54. The health of the U.S. economy is crucial for the wider world because consumer spending there accounts for a fifth of global economic activity. The U.S. imports huge amounts from Japan and China and is closely linked at all levels with the European market. The U.S. has seen a slump in consumer and business sentiments. Traders were hoping for signs that the Federal Reserve might take action at its September meeting to support the economy — perhaps a third round of bond purchases, dubbed quantitative easing III or QE3, analysts said. "Right now the possibility has increased," said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. "I think they have to do something. The markets are expecting QE3." Banking stocks were among the hardest hit Monday, partly because the U.S. government on Friday sued 17 financial firms for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed. Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., and Goldman Sachs Group Inc. Large European banks including The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued. In Asia, Australia's S&P/ASX 200 followed the broaden trend to close down 2.4 percent and South Korea's Kospi slid 4.4 percent. Hong Kong's Hang Seng slid 3 percent. Benchmarks in Singapore, Taiwan, New Zealand and the Philippines also were down. Shanghai's benchmark Composite Index down 2 percent to 2,478.74, its lowest close in 13 months. The Shenzhen Composite Index lost 2.4 percent. In currencies, the euro weakened to $1.4100 from $1.4187 in New York late Friday. The dollar was roughly flat at 76.87 yen. Last month, the dollar fell under 76 yen, which was a new post-World War II high for the Japanese currency. Benchmark oil for October delivery was down $2.12 to $84.33 a barrel in electronic trading on the New York Mercantile Exchange. Crude fell $2.48 to settle at $86.45 on Friday. In London, Brent crude for October delivery was down $1.63 at $110.70 on the ICE Futures exchange.

Libya rendition claims: David Cameron calls for inquiry

 

Allegations that MI6 was involved in the rendition of Libyan terror suspects should be examined by an independent inquiry, David Cameron has said. It comes after papers suggesting close ties between MI6, the CIA and the Gaddafi regime were found in Tripoli. An anti-Gaddafi military leader says he wants the UK and US to apologise for organising his 2004 transfer to Libya. An existing inquiry into allegations of UK security agencies' involvement in torture has said it will investigate. Abdel Hakim Belhaj, then a terror suspect but now in charge of the Libyan capital's military forces, says he was tortured after being arrested in Bangkok. He says he was taken to Libya by a CIA and MI6 operation, allegedly confirmed by documents sent to Gaddafi's regime, and sent to prison. The Foreign Office said the government had a "long-standing policy" not to comment on intelligence matters. Mr Belhaj told the BBC: "What happened to me and my family is illegal. It deserves an apology. And for what happened to me when I was captured and tortured. "For all these illegal things, starting with the information given to Libyan security, the interrogation in Bangkok." According to the Guardian, these documents were discovered in an abandoned office building in Tripoli by staff from Human Rights Watch. Mr Belhaj said that MI6 and the CIA did not witness his torture at the hands of the former Libyan regime, but did interview him afterwards. A spokesman for the prime minister said that the existing Detainee Inquiry into rendition was "well placed" to investigate the allegations reported in recent days. "It's not clear precisely what the allegations amount to," the spokesman added. "We don't have a clear picture from these documents, which is precisely why an inquiry like the [Detainee] inquiry might be well placed to consider the issue." A statement from the Detainee Inquiry, to be chaired by Sir Peter Gibson, said that as part of its role of examining the extent of the government's involvement in, or awareness of, improper treatment of detainees, it would "therefore, of course, be considering these allegations of UK involvement in rendition to Libya as part of our work. "We will be seeking more information from government and its agencies as soon as possible."

Blair was 'godfather to Murdoch's daughter'

 

Former prime minister Tony Blair is godfather to one of Rupert Murdoch's young children, sources said on Monday, raising fresh questions about British political links to the media mogul's empire. The revelation first emerged in a Vogue magazine interview with Murdoch's wife Wendi Deng, which also contains claims that Blair was present when Murdoch and Deng's two daughters were baptised beside the River Jordan in March last year. A spokesman for Blair's London office and a spokeswoman for Murdoch's US-based News Corporation both refused to comment on the story in Vogue's October UK edition, which is due out on Thursday. But sources close to News Corp confirmed to AFP that Blair was godfather to Grace, aged nine, Murdoch's eldest daughter by third wife Wendi. A source close to Blair also confirmed the Vogue story was true. News of the link between former Labour premier Blair and Australian-born Murdoch comes two months after the tycoon was forced to close down his News of the World tabloid amid a scandal over phone-hacking. The Vogue article, extracts of which were published in the Daily Telegraph on Monday, says Blair attended the ceremony "garbed in white" and describes him as one of Wendi Murdoch's "closest friends". Hollywood stars Nicole Kidman and Hugh Jackman were named publicly as godparents to Murdoch's young daughters at the time of the ceremony on the banks of the River Jordan, but Blair did not feature in photographs that were released. Jordan's Queen Rania hosted the baptism of Grace and Chloe, eight, Vogue said. A spokeswoman for Vogue UK confirmed that all the information and extracts published in the Daily Telegraph were accurate. They said it was an exclusive arrangement with the newspaper to release it in that way. The phone-hacking scandal dragged in Prime Minister David Cameron when his former media chief Andy Coulson, an ex-News of the World editor, was arrested in July on suspicion of hacking and bribing police. But it raised wider questions about the British establishment's cosy links with Murdoch, especially as Labour, who are now in opposition, made huge efforts to win over the elderly mogul's stable of newspapers.

Bogus pensions adviser jailed over £1.9m transfer fraud

 

bogus financial adviser who fraudulently manipulated his “clients’” pension funds to avoid paying tax of over £1.9m has been jailed at Hull Crown Court for three years. Colin Pearson (pictured), who previously worked for the Food Standards Agency and held a McDonalds franchise, claimed to be a financial adviser and persuaded his "clients" to release over ₤3.4m from their pension funds. Pearson completed UK pension transfer forms on behalf of his clients to falsely claim funds were going abroad to avoid paying tax due on the pension withdrawals, said HMRC. His fraudulent actions netted him commission payments of over £377,000. He provided fake documentation to register two overseas pension schemes before submitting the fake documents to ensure the funds were released without suspicion or delay to bank accounts he controlled. On occasions he even made telephone calls to the UK pension companies posing as the policy holder. On one call he disguised his voice with a Cypriot accent giving the impression he was calling from overseas. To add further legitimacy to the scam, he used articles from the internet to create a PowerPoint presentation to sell the scheme to unsuspecting UK clients, HMRC added. He then took a cut of the funds before passing the balance onto the pensioners. In total, Pearson persuaded over thirty UK pension holders to make unauthorised transfers of £3.4m to avoid paying tax of £1.9m. The value of the funds released was estimated as £3,440,143, of which £2,997,018 was returned to "clients". He also released his own pensions, valued at £74,619.08. In total approximately £377,608 was taken as commission. He used the proceeds of his scam to maintain a lavish lifestyle, driving expensive cars and owning luxury homes both in the UK and Cyprus. Bob Gaiger from HM Revenue & Customs said: "Whilst Pearson was living a life most people could only dream of, he left the individuals he conned out of pocket and without the pension funds they expected. "HMRC will not tolerate this type of blatant fraud and will investigate and prosecute those found to be involved in stealing from the public purse. If you have any information about tax fraud please contact our 24 hour hotline on 0800 50 5000". On sentencing Pearson, His Honour Judge Richardson QC, said: "You are branded a criminal, your life is utterly destroyed, and you are totally dishonest in your deceitful actions."

SFO probes banks over asset-backed security sales

 

The Serious Fraud Office is conducting an examination into banks and their offering of asset backed securities, as part of a ‘scoping exercise’ to see if products have been misrepresented to UK clients. The watchdog said it is consulting with relevant ‘people in the city’ as part of its broad-sweeping investigation into any potentially fraudulent sales of asset backed securities. A spokesperson for the SFO said: ‘We are conducting a scoping exercise into UK banks about all asset backed securities.’ Although the watchdog said this examination has been going on for ‘some time’, it would not clarify whether it was targeting any particular types of asset backed securities. After 2008, asset backed products such as collateralised debt obligations and mortgage backed securities came under fire for arguably sparking the financial crisis. As part of the exercise, the SFO is making inquiries into Goldman Sachs, including the ‘Timberwolf’ deal, a mortgage security underwritten by the bank in 2007, which has been scrutinised by lawyers in the US, according to the Financial Times. Earlier in the year, the SFO said it was looking into exchange-traded funds, as a 'potential threat' to market stability and as a form of asset-backed security which could follow the path of CDOs.

Monday, 22 August 2011

Skoda tops 200mph at Bonneville

Skoda's Octavia vRS - built in the UK to mark the 10th anniversary of the flagship vRS performance badge - has pushed its way past the 200mph barrier at the Bonneville Speed Week in the US, four days ahead of schedule.

The 500bhp 'salt spec' challenger succeeded in reaching an impressive 202.15mph on the salt flats of Utah.

The car's standard engine was not changed, but came with a larger turbo built by specialists Garrett.

The Octavia vRS also ran on high-octane race fuel instead of unleaded fuel.

The car came with a reinforced roll cage, a parachute brake, fire extinguishers and a window cage.

Robert Hazelwood, director for Skoda UK, said: "Months of rigorous planning, testing and preparation have all been worthwhile. At 13:24 on Monday August 15, we took our Octavia vRS past the 200 mph barrier. The entire team has done an outstanding job. Our special thanks go to Richard on an incredible drive."

 

Thursday, 11 August 2011

David Cameron is expected to outline further measures to deal with recent disorder in England when MPs are recalled for an emergency debate.



A huge police operation and heavy rain in some areas appear to have prevented a fifth night of disorder.

And magistrates in several cities have been working through the night to deal with those arrested on previous nights.

In Birmingham, a vigil has been held for three men who died after being hit by a car while protecting property.

'Truly dreadful'
The BBC's Jeremy Cooke said the candle-lit vigil for Haroon Jahan, 21, Shahzad Ali, 30, and Abdul Musavir, 31, was attended by some 200 people, and was entirely peaceful.

Harpreet Singh, 28, who helped to organise the vigil, told the crowd: "Let this be a message to other communities, not just Muslims and Sikhs, let's stand together, let's hold candlelight vigils.

"People have been hurt, families have been hurt, if we don't stop this, and the people who are rioting do not stop this, there will be more people dying. It has to stop and we are standing here united."

Continue reading the main story
At the scene

Jeremy Cooke
BBC News
They gathered on the exact spot on Birmingham's Dudley Road where three young men died when they were hit by a car in the early hours of Wednesday morning.

The 200 or so - mainly Muslim young men - who gathered for the event say the victims were simply trying to protect their property against marauding looters.

Police closed the road but kept a relatively low profile as the event continued. The riot gear - used so many times in recent days - was left inside the police vans pulled up at a discreet distance.

At the scene, mourners laid flowers, lit candles and said prayers in memory of the dead.

Tariq Jahan - whose 21 year-old son Haroon was among those killed - has emerged as a calm voice of authority here. He urged his community to remain peaceful and was heard in an atmosphere of quiet respect.

There is still anger because of what has happened but the prevailing emotion was one of sadness.

Mr Cameron said the deaths were "truly dreadful" and offered his condolences to the men's families.

A 32-year-old man is being questioned on suspicion of murder after the men were run over and killed.

The prime minister will chair a meeting of the government's emergency committee and discuss the violence with cabinet ministers before making a statement on the rioting during an emergency session of parliament on Thursday morning.

He is expected to give details of financial help for people who have lost homes or businesses.

On Wednesday, Mr Cameron said the "fightback" was under way and said said every action would be taken to restore order, with contingency plans for water cannon to be available at 24 hours' notice.

Stolen property
It is the second time in less than a month that MPs have been recalled for an emergency session - the first was for the phone-hacking scandal at the News of the World newspaper.

In other developments:

The father of the three men killed in Birmingham, Tariq Jahan, has appealed for calm
Almost 80,000 people have signed an online petition calling for anyone convicted of taking part in the riots to lose any benefits they receive
Up to 250 officers are sent from Scotland to help colleagues in the Midlands and North of England deal with rioting and disorder
The Met says 16,000 officers were available in London on Wednesday night, and advises people to avoid travel to the areas affected by the disorder
The government launches a website with advice to the public on how to cope with the unrest
Meanwhile, the Met Police has made more than 800 arrests and charged 279 people in connection with violence in the capital.

More than 300 people have been arrested in the West Midlands and a further 100 people have been arrested so far over the trouble in Manchester and Salford.

Courts are sitting through the night in London, Manchester and Solihull in the West Midlands to deal with people arrested during the four nights of disturbances, with those appearing in court mainly facing disorder and burglary charges.

Mr Cameron said anyone convicted of violent disorder would be sent to prison.

Police cuts
A deputation of Labour MPs from London went to the Home Office on Wednesday to demand a "moratorium" on plans to reduce numbers in the Metropolitan Police.





David Cameron: ''We will do whatever is necessary to restore law and order on to our streets''
Labour shadow home secretary Yvette Cooper said: "It is staggering and utterly shameful if it has taken these appalling events for ministers to start waking up to what everyone else has known all along," she said.

"Cutting 16,000 officers - the equivalent of every officer on the streets of London last night - at a time like this is deeply irresponsible."

London's Conservative mayor Boris Johnson has also called for a rethink on police funding but senior government sources say the Treasury will not reopen negotiations on the spending review.

And Home Secretary Theresa May has repeated her belief that police budgets can be reduced without damaging their ability to do their jobs.

But the Home Office said the reductions in the police budget were manageable.

At a press conference, Greater Manchester Police's Assistant Chief Constable Garry Shewan said he had seen "the most sickening scenes" of his career, and said the force had been overwhelmed.

He said the force was "absolutely intent" on bringing the rioters to justice and his officers were already studying CCTV.

The riots first flared on Saturday after a peaceful protest in Tottenham over the fatal shooting of Mark Duggan, 29, by police.

Monday, 18 July 2011

IPCC said it was launching an investigation into four former and serving senior Metropolitan Police officers over their handling of the phone hacking scandal.

On the day Yates resigned as assistant commissioner of the Metropolitan Police, he was also referred to the Independent Police Complaints Commission over his alleged involved in helping a friend's daughter get a job.It understood that this woman is Wallis's daughter but neither the Met or IPCC would confirm this. Allegations: Sources have revealed this evening that John Yates allegedly secured work for the daughter of Neil WallisThe revelations come hours after the IPCC said it was launching an investigation into four former and serving senior Metropolitan Police officers over their handling of the phone hacking scandal.Five issues have been referred to the IPCC, including questions about the conduct of both Yates and Sir Paul Stephenson, who resigned last night.

Monday, 11 July 2011

A store of munitions, seized from a vessel heading to Syria from Iran in 2008 could be at the heart of the explosion which reportedly killed twelve people this morning.

A store of munitions, seized from a vessel heading to Syria from Iran in 2008 could be at the heart of the explosion which reportedly killed twelve people this morning.
A picture of large scale devastation is emerging after a massive blast in a munitions dump at the Zygi naval base.
Electricity remains off in much of Cyprus, and state TV are showing pictures of ambulances and army trucks ferrying in injured people to a local hospital, many of them covered in blood. Large scale damage can be seen to a huge section of the barriers of the Larnaca-Limassol highway and a huge crater about one kilometre from the power station was shown on state TV.
The blasts, which happened just after 6am, caused extensive damage to property in the area and sparked wildfires in nearby scrubland in the tinder-dry summer conditions, the television said.
A police spokesman told the state CNA that two containers of gunpowder caught fire. In all, there were 98 containers in the depot.
The Evangelos Florakis naval base near Mari is used for local marine operations and training.
The explosion happened in a section of storgae area with containerized ammunition which were seized from a ship in 2008.
Zygi, on the outskirts of Limassol, is home to the transmitting station of the BBC World Service, which appears to be off air on 1323 AM.

Thursday, 7 July 2011

Murdoch axes News of the World after phone hacking scandal

The News of the World will close after a final edition this weekend, News International chairman James Murdoch said today.

The tabloid newspaper will be published for the last time on Sunday after it was rocked by the phone hacking scandal.

Mr Murdoch said in a statement: "Having consulted senior colleagues, I have decided that we must take further decisive action with respect to the paper. This Sunday will be the last issue of the News of the World."

 

Welcome Guys

Related Posts Plugin for WordPress, Blogger...

Share

Twitter Delicious Facebook Digg Stumbleupon Favorites More