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Sunday, 27 May 2012

Times are desperate in Spain. The Sun is setting on expats' Costa dreams

 It was sundowner time at the Cantina tapas bar in the picturesque village of Frigiliana, a few miles inland from the Costa del Sol town of Nerja. Inside, local men were watching bullfighting on television and smoking cigars in quiet contravention of the smoking ban. Outside, expatriate Britons were discussing the vagaries of living in Spain while downing glasses of tinto de verano, the popular summer drink of red wine and lemonade. Mark Jones, who runs his own gardening and pool maintenance company, had spent two days queuing at the local municipal office to renew his residence permit. "I got there at 9am on the first day and my number was 26; by lunchtime they were only up to number 6 and they close at 2pm," he complained. "You have to renew every bit of paper here every few years but...

Friday, 25 May 2012

Bankia shares are suspended in Madrid

Trading in shares in the Spanish lender Bankia have been suspended in Madrid. The market regulator CNMV said it was "due to circumstances that may affect the normal share trading". Bankia is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn) after a board meeting later on Friday. Bankia, which is Spain's fourth-largest bank, was part-nationalised two weeks ago because of its problems with bad property debt. Any extra government money would be on top of the 4.5bn euros in state loans that the government had to convert into shares in the group in the part-nationalisation process. Shares in Bankia's parent company Banco Financiero y de Ahorros (BFA) have also been suspended. Bankia was created in 2010 from the merger of seven struggling regional...

Sunday, 20 May 2012

Three killed in northern Italy earthquake

Three people have been killed in a 5.9-magnitude earthquake that struck northern Italy near Bologna, according to reports. The quake that struck at just after 4am local time was centred 21.75 miles north-northwest of Bologna at a relatively shallow depth of six miles, the US Geological Survey said. Italian news agency Ansa, citing emergency services, said two people were killed in Sant'Agostino di Ferrara when a ceramics factory collapsed. Another person was killed in Ponte Rodoni do Bondeno. In late January, A 5.4-magnitude quake shook northern Italy. Some office buildings in Milan were evacuated as a precaution and there were scattered reports of falling masonry and cracks in buildings. The tremor was one of the strongest to shake the region, seismologists said. Initial television...

Saturday, 19 May 2012

Spain faces crisis of confidence after deficit slip

Spain's government faces a crisis of confidence from nervous investors after admitting late on Friday its 2011 public deficit was higher than it had previously reported due to adjusted accounts in three of its regions. Spain revised its 2011 public deficit to 8.9 percent of gross domestic product from a previous 8.5 percent of GDP, a figure which was already sharply higher than the original target of 6 percent of GDP. The three offending regions, Valencia, Madrid and Castilla y Leon, are all governed by the ruling People's Party, an embarrassment for Prime Minister Mariano Rajoy who has made much of the Socialist party's inability to control their accounts. "This is a major disaster ... and a serious hit for Spain's credibility. I wouldn't be surprised if we see a leap in risk premiums...

Student dies, 7 hurt in blast near Italian school

A bomb exploded Saturday outside an Italian high school named after a slain anti-Mafia prosecutor, killing a teenage girl and wounding several other classmates, officials said. The device went off a few minutes before 8 a.m. in the Adriatic port town of Brindisi in the country's south just as students milled outside, chatting and getting ready for class at the Morvillo-Falcone vocational institute. The school is named in honor of prosecutor Giovanni Falcone and his wife, Francesca Morvillo, a judge who was also killed in a 1992 highway bombing in Sicily by the Cosa Nostra. The victim was identified as 16-year-old Melissa Bassi, from the nearby town of Mesagne, the town's mayor Franco Scoditti said. One of the wounded students, a girl walking with the victim outside the school, was reported...

Friday, 18 May 2012

‘Save euro’ plea to Germans as Spain slumps

BRITAIN yesterday piled pressure on German Chancellor Angela Merkel to save the euro. 6 comments Related Stories PM: Make or break for euro HE to issue plea to Merkel to fork out as only way to stave off meltdown New French Pres gets a soakingFrench warning for CameronSarky poll malarky will leave PM narky David Cameron and Chancellor George Osborne said she must use her financial clout to stop the single currency collapsing. The PM hammered the message home in emergency talks via video-link with Mrs Merkel and French president Francois Hollande. It came as the chaos in Greece spread to Spain — with fears of a run on banks in both countries. Greeks have taken £560million from local banks in the past week. And yesterday Spain’s Bankia bank was forced to deny reports customers had taken...

Spain’s banking crisis reached Britain’s high streets last night when the credit rating of Santander UK was cut.

In a sweeping reassessment, ratings agency Moody’s announced in Madrid that it is downgrading 16 Spanish banks because it could not be sure of the ability of the country’s government to provide the necessary support.Santander UK was among the banks highlighted after the ratings agency took aim at its parent Banco Santander, based in Spain. The Spanish banking crisis has hit the British high street, with the news that Santander has had its credit rating cutSantander is one of the biggest players in UK retail banking, having taken over the former Abbey National, Alliance & Leicester, Bradford & Bingley and most recently the English...

Thursday, 17 May 2012

'Queen of Disco' Donna Summer 'thought she became ill after inhaling 9/11 particles'

The 63-year-old singer, who had hits including Hot Stuff, Love to Love You, Baby and I Feel Love, died in Florida on Thursday morning. She had largely kept her battle with lung cancer out of the public eye. But the website TMZ reported that the singer had told friends she believed her illness was the result of inhaling toxic dust from the collapsed Twin Towers. On Thursday night tributes were paid to the singer, considered by many to be the voice of the 1970s. A statement released on behalf of her family — husband Bruce Sudano, their daughters Brooklyn and Amanda, her daughter, Mimi from a previous marriage and four grandchildren — read: “Early this morning, surrounded by family, we lost Donna Summer Sudano, a woman of many gifts, the greatest being her faith. "While we grieve her passing,...

Investigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime

Grafitti saying 'Z 100%', referring to the Los Zetas cartel, near to where 49 mutilated bodies were found in Northern Mexico. Photograph: Miguel Sierra/EPAInvestigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime, in the highest level scandal to hit the military in the five-year-old drug war.Mexican soldiers on Tuesday detained retired general Tomás Angeles Dauahare and general Roberto Dawe González and turned them over to the country's organised crime unit, military and government officials said.Angeles Dauahare was number 2 in the armed forces under President Felipe...

JPMorgan's Trading Loss Is Said to Rise at Least 50%

The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorgan’s chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan’s distress, fueling faster deterioration in the underlying credit market positions held by the bank. A spokeswoman for the bank declined to comment, although Mr. Dimon has said the total paper trading losses will be volatile depending on day-to-day market fluctuations. The Federal Reserve is examining the scope of the growing losses...

Sunday, 13 May 2012

‘Europe on the brink of armed-revolution’

The chorus of anti-austerity voices grows louder in Greece as Athens scrambles to form a coalition government. While eurocrats prepare to give Greece the boot, political analyst Alessandro Politi told RT speculators are Europe’s real enemy. Greek President Karolos Papoulias has called on the leaders of the country’s three biggest parties in a last ditch effort to avoid new elections. With the Left Coalition SYRIZA party insisting that it will not participate in any government “that will implement the bailout,” Greece faces bankruptcy within weeks, and a likely ejection from the eurozone. But as Greece is told to suffer more austerity or say goodbye to the euro, Politi told RT there is a third way. RT: Greece's predicament is unenviable. It could leave the Eurozone, maybe default, start from...

EU central bankers ponder Greece euro exit

Europe central bankers have been openly expressing views on the possibility of Greece leaving the eurozone as its leaders struggle to form a government. Germany's top banker said it was up to the Greeks to decide, but if they did not keep to their bailout commitments, they would receive no new aid. His counterpart in the Irish Republic said a Greek exit would be damaging but not necessarily fatal to the euro. Greece is to make a final attempt at forming a government on Sunday. Continue reading the main story Analysis Ben Thompson Business reporter After last week's elections in France and Greece, two things began to change in the eurozone. First was the talk that "spending" could replace "austerity" as a way out of the crisis. That's perhaps more aspirational than practical but it pleased...

Friday, 11 May 2012

Rebekah Brooks turns screw on Jeremy Hunt with 'hacking advice' email

Jeremy Hunt, came under renewed pressure when the former News International chief executive Rebekah Brooks disclosed an email appearing to show he had sought the company's advice over how Downing Street should respond to the mounting phone-hacking scandal. The email, which also suggests Hunt sought to avoid a public inquiry into phone hacking, emerged on another day of extraordinary disclosures about the intimacy between Rupert Murdoch's company and government ministers. The email from News Corporation lobbyist Frédéric Michel written in June 2011 told Brooks that Hunt was poised to make an "extremely helpful" statement about the company's proposed acquisition of BSkyB, saying the takeover would be approved regardless of phone-hacking allegations. Michel also warned her, days before the...

Rebekah Brooks refused to name source of Brown son story

Rebekah Brooks has denied that The Sun hacked the medical records of Gordon Brown's four-year-old son - and refused to disclose the source of the information to the Leveson Inquiry She also insisted that the paper had permission from the former Prime Minister and his wife before publishing an article about the child's medical condition. Brooks said that she and Gordon's Brown wife Sarah "were good In a written response to the Inquiry's questions submitted in October last year Brooks set out a detailed description of safeguards put in place to check stories. The former tabloid editor and News International chief executive also denied commissioning any computer hacking or feeling any "negative pressure" from proprietor Rupert Murdoch. Much of the 12-page statement consists of explanations...

David Cameron sent commiserations to Rebekah Brooks after she resigned as News International chief executive over the phone hacking scandal

David Cameron sent commiserations to Rebekah Brooks after she resigned as News International chief executive over the phone hacking scandal, the Leveson Inquiry has heard. Ms Brooks said the indirect messages from the Prime Minister were "along the lines" of "keep your head up" and had also expressed regret that he could not be more loyal in public. She also received sympathetic messages from other senior figures in 10 and 11 Downing Street, the Home Office, the Foreign Office and some Labour politicians, including Tony Blair. The glimpse of Ms Brooks's network of high-powered friends and contacts came as she took to the witness box, despite being under investigation by police. Ms Brooks said she only had access to around six weeks of texts and emails from her time as NI chief executive,...

Rebekah Brooks to lift lid on David Cameron friendship

Former Sun and News of the World editor Rebekah Brooks is expected to lift the lid on her close relationship with the Prime Minister in evidence to the Leveson Inquiry. David Cameron is said to have texted Mrs Brooks, telling her to "keep her head up" after she resigned from News International last July. It has also been claimed that the 43-year-old former editor sent Mr Cameron more than 12 text messages a day. After her editorships Mrs Brooks went on to become chief executive of Rupert Murdoch's UK newspapers division News International in September 2009 until she resigned in the wake of the hacking scandal last July. She and racehorse trainer husband Charlie are key members of the influential Chipping Norton set, which also includes Mr Cameron and his wife Samantha, Top Gear presenter...

Sunday, 6 May 2012

Greek neo-Nazi party Golden Dawn warned rivals and reformers Sunday that "the time for fear has come"

after exit polls showed them securing their entry in parliament for the first time in nearly 40 years. "The time for fear has come for those who betrayed this homeland," Golden Dawn leader Nikos Michaloliakos told a news conference at an Athens hotel, flanked by menacing shaven-headed young men. "We are coming," the 55-year-old said as supporters threw firecrackers outside. According to updated exit polls, the once-marginal party will end up winning over six percent of the vote and sending 19 deputies to the 300-seat parliament on a wave of immigration and crime fears, as well as anti-austerity anger. Exulting in the apparent breakthrough, Michaloliakos quoted Julius Caesar: "Veni, Vidi, Vici" -- I came, I saw, I conquered. Michaloliakos said his party would fight against "world usurers" and...

Greek voters reject eurozone austerity

Greek voters have dealt a blow to eurozone hopes that Athens will stick to its austerity commitments as parties opposing more cuts, including neo-Nazis, won almost 60 per cent support at the polls. According to updated exit polls, the two main parties suffered heavy losses on Sunday, with the conservative New Democracy and the left-wing Pasok getting just 32 to 34.5 per cent between them, down from 77.4 per cent at the last polls in 2009. New Democracy, led by Antonis Samaras, remained the largest party but it fell short of an absolute majority in parliament. Advertisement: Story continues below It would therefore be tough for Samaras, once he is officially tasked to do so by the president, to form a government able to keep its austerity promises and implement more cuts demanded by the...

Socialist Francois Hollande wins French presidency

French socialist Francois Hollande has won a clear victory in the country's presidential election. Mr Hollande - who got an estimated 52% of votes in Sunday's run-off - said the French had chosen "change". Admitting defeat, centre-right incumbent Nicolas Sarkozy wished "good luck" to Mr Hollande. Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries. Shortly after polls closed at 20:00 (18:00 GMT), French media published projections based on partial results giving Mr Hollande a lead of almost four points. Continue reading the main story At the scene Christian Fraser Socialist HQ, Paris The excitement has been building for two weeks, it was mixed with relief and perhaps some disbelief when the...

Brink's Mat the reason that Great Train Robber was shot dead in Marbella

The Brink’s-Mat curse even touched on the Great Train Robbery gang of 1963. One of them, Charlie Wilson, found himself in trouble when £3 million of Brink’s-Mat investors’ money went missing in a drug deal. In April 1990, he paid the price when a young British hood knocked on the front door of his hacienda north of Marbella and shot Wilson and his pet husky dog before coolly riding off down the hill on a yellow bicyc...

Saturday, 5 May 2012

British tourist falls to her death from hotel balcony in Magalluf

23 year old British tourist has fallen to her death from the third floor balcony of her hotel in Magalluf, Mallorca. Emergency sources said it happened at 4.25am Saturday morning at the Hotel Teix in Calle Pinada. Local police and emergency health services went to scene. After 20 minutes of an attempt to re-animate her heart, the woman was pronounced dead. Online descriptions for the Hotel say it is the best place to stay of you are looking for non-stop partying, adding it not suitable for famili...

Four of the last reporters and photographers willing to cover crime stories have been slain in less than a week in violence-torn Veracruz state

Four of the last reporters and photographers willing to cover crime stories have been slain in less than a week in violence-torn Veracruz state, where two Mexican drug cartels are warring over control of smuggling routes and targeting sources of independent information. The brutal campaign is bleeding the media and threatening to turn Veracruz into the latest state in Mexico where fear snuffs out reporting on the drug war. Three photojournalists who worked the perilous crime beat in the port city of Veracruz were found dismembered and dumped in plastic bags in a canal Thursday, less than a week after a reporter for an investigative newsmagazine was beaten and strangled in her home in the state capital of Xalapa. Press freedom groups said all three photographers had temporarily fled the...

Friday, 4 May 2012

Greek far-right parties could end up with as much as 20 percent of the vote in Sunday's elections. The neo-Nazi Golden Dawn party has intensified the xenophobic atmosphere in the country.

At night, the streets leading to Omonoia Square are empty. That wasn't always the case. The area was the premier multicultural neighborhood of Athens and one of the first quarters to be gentrified. Jazz bars and Indian restaurants lined the streets, separated by the occasional rooms-by-the-hour hotel. It was a quarter full of immigrants, drug addicts and African prostitutes, but also of journalists, ambitious young artists and teenagers from private schools. Today, the immigrants stay home once night falls. They are afraid of groups belonging to the "angry citizens," a kind of militia that beats up foreigners and claims to help the elderly withdraw money from cash machines without being robbed. Such groups are the product of an initiative started by the neo-Nazi Chrysi Avgi -- Golden Dawn...

Locked Up Abroad is different.

Reality TV is, at its core, about letting viewers revel in the bad decision-making of others: those who speak without thinking, who backstab, who have sex without condoms, who cheat. Frustratingly, though, reality shows—to which I am unapologetically addicted—tend to reward bad behavior, by giving its villains notoriety, spinoffs, opportunities to endorse weight-loss products, a nice sideline in paid interviews with supermarket tabloids, and other D-list rewards.Locked Up Abroad is different. The National Geographic show, the sixth season of which premiered last week, gives its stars something they wouldn’t get on other reality shows: their comeuppance.Having debuted in the U.K. (under the title Banged Up Abroad), Locked Up Abroad showcases one person (sometimes a couple)...

Low fare airline bmibaby to close

Low fare carrier bmibaby is set to close later this year, threatening the loss of hundreds of jobs and the ending of its flights. The carrier transferred to International Airlines Group, the owners of British Airways, last month, but consultations have now started with unions about its closure in September. The GMB union said it was "devastating" news, especially for the East Midlands, where hundreds of jobs are now threatened with the axe. With bmi Regional, bmibaby transferred to International Airlines Group ownership on completion of the purchase from Lufthansa. IAG has consistently said that bmibaby and bmi Regional are not part of its long-term plans. A statement said: "Progress has been made with a potential buyer for bmi Regional, but so far this has not been possible for bmibaby, despite...

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