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blogzone
Cor Pan probably didn't realize the effect his post would have when he shared it. The Dutch citizen was aboard the Malaysia Airlines plane that was carrying 295 people and was shot down over Ukraine on Thursday. But prior to taking off, Pan took a snapshot of the plane and posted the picture on his Facebook page with the caption that translates to, "If it disappears, this is what it looks like," poking fun at the Malaysia plane that went mysteriously missing in March. The aircraft, which was shot down near the Russian border, was flying from Amsterdam to Kuala Lumpur when it fell near the city of Donetsk in a war-torn area which has become a stronghold for pro-Russian rebels. All the passengers onboard were killed.
Thursday, 17 July 2014
Incredible Map Shows Airplanes Getting The Heck Out Of Ukranian Airspace
On a normal travel day, the airspace over Ukraine is some of the most congested in the world. It serves as a major cross roads for flights connecting major hubs in Europe with megacities in Asia. However, after Malaysia Airlines Flight MH17 was reportedly shot down earlier today, most of the world's major airlines have ordered their planes to avoid the area completely. The above map, which was tweeted by Newsweek, shows Ukranian airspace a few hours after MH17 lost contact with radar. Two of Europe's largest airlines, Lufthansa and British Airways, have both told Business Insider that they have ordered their planes away from the disputed region. To avoid the Russian-Ukraine conflict altogether, Lufthansa has specifically ordered their planes to take a southerly route over Romania.
Tuesday, 17 July 2012
EU begins investigation of Microsoft for failing to offer choice of browsers, as promised
EU’s executive body, the European Commission, announced Tuesday that it was opening an investigation into whether Microsoft has kept the antitrust commitments it made in 2009, and warned that penalties for non-compliance would be “severe.” Microsoft conceded it had “fallen short” of its obligation to provide the “browser choice screen,” or BCS. The choice screen would allow users of Microsoft’s Windows operating systems to select a browser other than Microsoft’s Internet Explorer. 2 Comments Weigh InCorrections? Personal Post “Due to a technical error, we missed delivering the BCS software to PCs that came with the service pack 1 update to Windows 7,” Microsoft said in a statement. The company said that PCs running the original version of Windows 7, as well as Windows XP and Windows Vista, did have the screen. “While we have taken immediate steps to remedy this problem, we deeply regret that this error occurred and we apologize for it,” Microsoft said. EU Competition Commissioner Joaquin Almunia told reporters it appeared that the choice screen, promised by Microsoft in 2009 following an antitrust case, has not been provided since February 2011, meaning 28 million customers who should have seen it may not have. Microsoft submitted a report to the Commission in December asserting that the browser choice screen was being provided as required. In its statement Tuesday, the company said it believed at the time that was the case. The company said it had retained outside to conduct a formal investigation of how the technical error occurred and to make suggestions to avoid such compliance problems in the future. It also said that it was offering to extend the time during which it is obligated to display the choice screen by an additional 15 months. “We understand that the Commission will review this matter and determine whether this is an appropriate step for Microsoft to take,” the statement said. “We understand that the Commission may decide to impose other sanctions.” The latest development stems from Microsoft’s agreement in 2009 to offer a choice of rival Web browsers on Windows to ward off additional fines. Rivals had complained that attaching Internet Explorer to Windows was an unfair way for Microsoft to put its Web software on most of the world’s computers. The competitive landscape has changed greatly since then, however. Tech companies are now more concerned about Google’s and Facebook’s dominance than Microsoft’s. Meanwhile, rival browsers such as Mozilla’s Firefox and Google’s Chrome have gotten more use, and apps on mobile devices have started to replace browsers as gateways to online content The development comes just weeks after a European court upheld most of a massive fine that the European Commission had levied against Microsoft in 2008 for failing to fully comply with an order covering technical documents it had to share with rivals. At the time, the ruling closed the last of EU’s active cases against Microsoft, which dated back to 1998. Almunia said this would be the first time that this type of legally binding agreement has not been complied with. “Needless to say, we take compliance with our decision very seriously,” he said. “If the infringement is confirmed, there will be sanctions.” All told, the European Union has so far fined Microsoft €1.64 billion ($2 billion).
Diamond Contradicted by Del Missier, Criticized by Regulator
Barclays Plc (BARC)’s ex-chief executive officer, Robert Diamond, was contradicted by his former chief operating officer and criticized by regulators investigating the Libor-rigging scandal. Jerry del Missier told lawmakers yesterday his former boss instructed him to submit artificially low Libor rates, and blamed compliance managers for failing to act. Less than an hour later, Financial Services Authority Chairman Adair Turner told the committee Barclays had been “gaming the system.” Del Missier, 50, said he took Diamond’s direction to have come from the Bank of England. He said he then “passed the instruction along” to Mark Dearlove, head of the bank’s money- markets desk, to lower its contributions for the London interbank offered rate. “It did not seem an inappropriate action given it was coming from the Bank of England,” del Missier told Parliament’s Treasury Select Committee in London. “The government were calling the shots.” His comments contradicted Diamond, who told lawmakers he wasn’t directed by the Bank of England to lower the firm’s submissions and gave no such instruction. Del Missier also embroiled more executives in the inquiry, saying compliance chief Stephen Morse was told by the bank’s money-markets desk about the request to lower Libor rates, and failed to act. The desk “informed compliance of the request,” del Missier said. “There was no closing of the loop.” Shares Fall Barclays fell 4.5 percent to 157.70 pence, the lowest in almost eight months, in London trading yesterday. The stock has declined 10 percent this year, making it the worst performer in the six-member FTSE 350 Banks index. Simon Eaton, a Barclays spokesman, and Daniel Yea, Diamond’s spokesman, declined to comment on del Missier’s remarks. Del Missier resigned from Britain’s second-largest bank by assets on July 3, the same day as Diamond after the lender was fined 290 million pounds ($453 million) by regulators for attempting to manipulate Libor, a benchmark for $500 trillion of financial products. Libor is calculated by a survey of banks’ daily estimates of how much it would cost them to borrow from one another for different time frames and in different currencies. Because submissions aren’t based on real trades, the potential exists for the benchmark to be manipulated. Seven Banks Tracey McDermott, the FSA’s acting enforcement chief, told lawmakers yesterday the regulator is investigating seven banks over Libor-rigging. The U.K. Serious Fraud Office said on July 6 that it had opened a criminal probe. Diamond told the committee on July 4 that he had received a call from Paul Tucker, then markets director at the Bank of England, in October 2008 questioning why the lender’s Libor submissions were so high. Diamond said he didn’t interpret the call as an instruction to submit lower rates. Tucker said no government minister or official pressured him to instruct London-based Barclays or any other U.K. bank to lowball its Libor submissions during the financial crisis in his own testimony on July 9. Diamond said del Missier misinterpreted his account of the call as in instruction. “I was unaware that Jerry had the impression that the conversation I had with Paul, either by note or by conversation, was an instruction,” Diamond told lawmakers. “I was not aware that he did instruct” his traders to lower their submissions. Diamond’s Instruction Del Missier said yesterday he passed on what he took to be an instruction to his head of money markets without getting legal advice. He didn’t seek further clarification from Diamond. “It was an instruction, wasn’t it?” said David Ruffley, a committee member from the U.K.’s ruling Conservative Party. “Yes, it was,” said del Missier. Del Missier was then asked what he said to Dearlove after he had a conversation with Diamond. “I said I have spoken to Mr. Diamond,” del Missier said. “He’s had a call from Mr. Tucker, alluding to the political pressure around Barclays’s health as demonstrated by our Libor rates and that we should get our rates down and not be an outlier.” “So you explicitly instructed him to bring the Libor-rate submissions down?” said Andrea Leadsom, a committee member. “I passed the instruction along, yes,” said del Missier. Diamond’s comment to the committee that regulators had been “specifically pleased” with the “tone at the top” at the bank was again challenged yesterday by the FSA’s Turner. ‘Cultural Tendency’ The bank “had a cultural tendency to be always pushing the limit” of what was allowed under banking rules, Turner told the committee. He and Andrew Bailey, the regulator’s head of banking supervision, said the cultural issues at Barclays came from the “tone at the top,” including Diamond. Turner said he talked to Barclays Chairman Marcus Agius to drive home the message that the bank was “gaming the system.” “There have been a set of issues” the FSA had argued about with Barclays “on a case-by-case basis,” Turner said. “It is the accumulation that makes us believe that we have to draw the attention from the chairman to the chairman level,” he said, referring to a February letter to Agius in which he outlined his concerns about how the bank approached regulators. “There was a problem with this institution,” Bailey said.
Dutch authorities have joined the FBI in conducting criminal investigations into the discovery of needles in six sandwiches aboard four Delta Air Lines flights from Amsterdam to the United States
Dutch authorities have joined the FBI in conducting criminal investigations into the discovery of needles in six sandwiches aboard four Delta Air Lines flights from Amsterdam to the United States, a military police spokesman in the Netherlands said Tuesday.
One person was injured when he bit into a sandwich containing a needle, Delta and Dutch officials said.
That passenger, James Tonjes, said he thought the object was a toothpick at first.
"When I pulled it out, then I found out it was a needle," he said Tuesday.
Tonjes said he has been placed on medication to prevent HIV.
A second passenger aboard the same flight, Jack Drogt, told ABC's "Good Morning America" on Tuesday that he not only found a needle, he discovered after landing that his son also found a one in his sandwich aboard another flight from Amsterdam.
Unsavory truths about airplane food
The objects were discovered in the sandwiches as the planes were flying Sunday from Schiphol Airport in the Netherlands to Minneapolis, Seattle and two flights to Atlanta, according to Delta spokeswoman Kristin Baur. Two of the needles were found by passengers, she said. An air marshal aboard another flight found a needle as well.
Officials initially reported that four needles had been found. Baur said the two additional needles reported Tuesday were not new incidents but a clarification of earlier information.
The FBI said Monday that it had launched an investigation into the incident. On Tuesday, Robert van Kapel, spokesman for the military police in Schiphol, said detectives there were looking into who put the needles into the sandwiches and why.
Gate Gourmet, which provided prepared sandwiches to Delta, said the sandwiches originated at the firm's facility in Amsterdam. The company has been in business since 1992.
Airline drops salads from flights in food scare
"This is a terribly upsetting situation," Gate Gourmet spokeswoman Christina Ulosevich said. "First and foremost is the safety of the traveling public. There's nothing more important to us at all than the safety of the passengers and crews."
Tonjes said it was about an hour before the flight was scheduled to land in Minneapolis when he the flight crew served him a turkey and cheese sandwich.
Why air travel snacks matter
He described the needle that punctured the roof of his mouth as being about an inch long. He said it looked like a sewing needle but did not have an eye.
"It happened so quick," he said. "I called the flight attendants, and they immediately took it. They didn't make an announcement, but they did go around and collect (the sandwiches)," he said.
FBI officials declined to comment Tuesday.
On Monday, Transportation Security Administration spokesman David Castelveter said the agency had notified all U.S. airlines with flights from Schiphol to the United States of the situation.
"TSA continues to closely monitor the review of the incidents as well as the security protocols being conducted by the air carrier and the airport authority," Castelveter said.
Delta is now serving sealed prepackaged food on these flights instead of the sandwiches, and no other needles have been found, Baur said.
"Delta requires all its in-flight caterers to adhere to strict criteria in order to offer our customers the very best onboard meals," Baur said in a statement. "The safety and security of our passengers and crew is Delta's number one priority."
Ulosevich said Monday that Gate Gourmet provides food to other airlines but that it had not received any other reports of tampering.
"We are absolutely cooperating fully with federal and local authorities who are involved, and concurrent with that, we'll be conducting our own full-scale investigation."
Frequent flier Gary Leff, who rakes in more than 100,000 miles each year, said he's taking a "wait and see attitude" but isn't planning to change the way he thinks about airline food.
"I mean, this isn't going to be the first thing ever found in airline food and certainly not the first thing found in restaurant food," he said.
Leff is a frequent domestic flier for work and redeems his miles for international vacations, sharing his cheap travel expertise on his blog, View from the Wing.
He expects others to be bothered by this incident "for about 15 minutes," Leff said. He referenced a number of occasions when unwanted ingredients or objects have been discovered in foods and medicines over the past few decades -- incidents no one seems to worry about or even remember, he said.
"I think most people are just so happy to be served food in the sky that they'll forget it pretty quickly," he said.
HSBC contrite as senators hammer money-laundering lapses
HSBC Holdings Plc told a U.S. Senate panel on Tuesday that it has dealt head-on with allegations of pervasive money-laundering through bank accounts, saying it has overhauled how it polices transactions, exited lucrative businesses and shaken up executive leadership. HSBC offered up the changes after the Senate's Permanent Subcommittee on Investigations released a report accusing the British bank of a "pervasively polluted" culture, underscoring money-laundering problems have been flagged by regulators for nearly a decade. The report said the bank routinely acted as a financier to clients routing funds from the world's most dangerous corners, including Mexico, Iran and Syria. During a hearing on the Senate report, David Bagley, a top compliance executive at HSBC since 2002, said he would step down. The resignation was part of HSBC's effort to apologize and show that it has cleaned up its act, even as the bank faces fresh questions about whether it has really fixed major flaws in catching and stopping money laundering. A Reuters investigation has found persistent lapses in the bank's anti-money laundering compliance since 2010.
Friday, 6 July 2012
Bankers face the prospect of jail as Serious Fraud Office launches criminal probe into interest-rate fixing at Barclays
Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this week
A criminal investigation has been launched into alleged rigging of the Libor rate within the banking industry, the Serious Fraud Office (SFO) confirmed today.
SFO director David Green QC formally accepted the Libor issue for investigation after Barclays was fined by the Financial Services Authority (FSA) last week for manipulating the key interbank lending rate which affects mortgages and loans.
The claims ultimately led to the resignation of Barclays boss Bob Diamond and have become the focal point of a fierce political debate over ethics in the banking sector.
The investigation could ultimately lead to criminal prosecutions and bankers facing charges in court.
The SFO's update came after it revealed earlier this week that it had been working closely with the FSA during its investigation and would consider the potential for criminal prosecutions.
The Government department, which is responsible for investigating and prosecuting serious and complex fraud, said on Monday the issues surrounding Libor were "complex" and that assessing the evidence would take time.
Under fire: Barclays former chairman Marcus Agius (right) with former CEO Bob Diamond (centre), and former chief executive John Varley (left)
As the SFO prepares its investigation, Labour leader Ed Miliband continued to push for an independent inquiry into the banking scandal despite MPs rejecting the demands.
The Labour leader said that while the party would cooperate with a parliamentary investigation, its remit was too "narrow" and a judge-led probe was still needed.
Mr Miliband also defended the conduct of Ed Balls after the shadow chancellor engaged in a bitter war of words with his opposite number George Osborne in the Commons.
Tuesday, 3 July 2012
Barclays boss Bob Diamond resigns
Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates. Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise". Chairman Marcus Agius, who said on Monday he was stepping down, will take over the running of Barclays until a replacement is found. "I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement. He will still appear before MPs on the Treasury Committee to answer questions about the Libor affair on Wednesday. "I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question," Mr Diamond said. Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions. Staff did this over a number of years, trying to raise them for profit and then, during the financial crisis, lowering them to hide the level to which Barclays was under financial stress. Prime Minister David Cameron has described the rigging of Libor rates as "a scandal". The Serious Fraud Office is also considering whether to bring criminal charges.
Monday, 2 July 2012
Beware of missed call to check SIM cloning
Next time if you get a missed call starting with +92; #90 or #09, don't show the courtesy of calling back because chances are it would lead to your SIM card being cloned. The telecom service providers are now issuing alerts to subscribers —particularly about the series mentioned above as the moment one press the call button after dialing the above number, someone at the other end will get your phone and SIM card cloned. According to reports, more than one lakh subscribers have fallen prey to this new telecom terror attack as the frequency of such calls continues to grow. Intelligence agencies have reportedly confirmed to the service providers particularly in UP West telecom division that such a racket is not only under way but the menace is growing fast. "We are sure there must be some more similar combinations that the miscreants are using to clone the handsets and all the information stored in them," an intelligence officer told TOI. General Manager (GM) BSNL, RV Verma, said the department had already issued alerts to all the broadband subscribers and now alert SMSes were being issued to other subscribers as well. As per Rakshit Tandon, an IT expert who also teaches at the police academy (UP), the crooks can use other combination of numbers as well while making a call. "It is better not to respond to calls received from unusual calling numbers," says Tandon. "At the same time one should avoid storing specifics of their bank account, ATM/ Credit/Debit card numbers and passwords in their phone memory because if one falls a prey to such crooks then the moment your cell phone or sim are cloned, the data will be available to the crooks who can withdraw amount from your bank accounts as well," warns Punit Misra; an IT expert who also owns a consultancy in Lucknow. The menace that threatens to steal the subscriber's information stored in the phone or external memory (sim, memory & data cards) has a very scary side as well. Once cloned, the culprits can well use the cloned copy to make calls to any number they wish to. This exposes the subscribers to the threat of their connection being used for terror calls. Though it will be established during the course of investigations that the cellphone has been cloned and misused elsewhere, it is sure to land the subscriber under quite some pressure till the time the fact about his or her phone being cloned and misused is established, intelligence sources said. "It usually starts with a miss call from a number starting with + 92. The moment the subscriber calls back on the miss call, his or her cell phone is cloned. In case the subscribers takes the call before it is dropped as a miss call then the caller on the other end poses as a call center executive checking the connectivity and call flow of the particular service provider. The caller then asks the subscriber to press # 09 or # 90 call back on his number to establish that the connectivity to the subscriber was seamless," says a victim who reported the matter to the BSNL office at Moradabad last week. "The moment I redialed the caller number, my account balance lost a sum of money. Thereafter, in the three days that followed every time I got my cell phone recharged, the balance would be reduced to single digits within the next few minutes," she told the BSNL officials.
Sunday, 1 July 2012
France brings in breathalyser law
New motoring laws have come into force in France making it compulsory for drivers to carry breathalyser kits in their vehicles. As of July 1, motorists and motorcyclists will face an on-the-spot fine unless they travel with two single-use devices as part of a government drive to reduce the number of drink-drive related deaths. The new regulations, which excludes mopeds, will be fully enforced and include foreigner drivers from November 1 following a four-month grace period. Anyone failing to produce a breathalyser after that date will receive an 11 euro fine. French police have warned they will be carrying out random checks on drivers crossing into France via ferries and through the Channel Tunnel to enforce the new rules. Retailers in the UK have reported a massive rise in breathalyser sales as British drivers travelling across the Channel ensure they do not fall foul of the new legislation. Car accessory retailer Halfords said it is selling one kit every minute of the day and has rushed extra stock into stores to cope with the unprecedented demand. Six out of 10 Britons travelling to France are not aware they have to carry two NF approved breathalysers at all times, according to the company. The French government hopes to save around 500 lives a year by introducing the new laws, which will encourage drivers who suspect they may be over the limit to test themselves with the kits. The French drink-driving limit is 50mg of alcohol in 100ml of blood - substantially less than the UK limit of 80mg.
The number of Britons arrested overseas is on the rise, official figures have shown.
The Foreign Office (FO) handled 6,015 arrest cases involving British nationals abroad between April 2011 and March 2012. This was 6% more than in the previous 12 months and included a 2% rise in drug arrests. The figures, which include holidaymakers and Britons resident overseas, showed the highest number of arrests and detentions was in Spain (1,909) followed by the USA (1,305). Spanish arrests rose 9% in 2011/12, while the United States was up 3%. The most arrests of Britons for drugs was in the US (147), followed by Spain (141). The highest percentage of arrests for drugs in 2011/12 was in Peru where there were only 17 arrests in total, although 15 were for drugs. The FO said anecdotal evidence from embassies and consulates overseas suggested many incidents were alcohol-fuelled, particularly in popular holiday destinations such as the Canary Islands, mainland Spain, the Balearics (which include Majorca and Ibiza), Malta and Cyprus. Consular Affairs Minister Jeremy Browne said: "It is important that people understand that taking risks abroad can land them on the wrong side of the law. "The punishments can be very severe, with tougher prison conditions than in the UK. While we will work hard to try and ensure the safety of British nationals abroad, we cannot interfere in another country's legal system. "We find that many people are shocked to discover that the Foreign and Commonwealth Office cannot get them out of jail. We always provide consular support to British nationals in difficulty overseas. However, having a British passport does not make you immune to foreign laws and will not get you special treatment in prison."
Tuesday, 19 June 2012
Assange seeks political asylum
On Tuesday night WikiLeaks founder Julian Assange applied for political asylum at the Ecuadorian Embassy in London after failing in his bid to avoid extradition to Sweden to face sex crime allegations. The 40-year-old Australian is currently inside the building in Knightsbridge, having gone there on Tuesday afternoon to request asylum under the United Nations Human Rights Declaration. The country's foreign minister Ricardo Patino told a press conference in the South American country that it was considering his request. In a short statement last night, Mr Assange said: "I can confirm that today I arrived at the Ecuadorian Embassy and sought diplomatic sanctuary and political asylum. This application has been passed to the Ministry of Foreign Affairs in the capital Quito. I am grateful to the Ecuadorian ambassador and the government of Ecuador for considering my application." The computer expert, who was on £200,000 bail after failing in several attempts to halt extradition, attracted several high-profile supporters including Ken Loach and socialite and charity fundraiser Jemima Khan, who each offered £20,000 as surety. Other supporters included Bianca Jagger and veteran left-winger Tony Benn. The Swedish authorities want him to answer accusations of raping a woman and sexually molesting and coercing another in Stockholm in August 2010 while on a visit to give a lecture. Assange, whose WikiLeaks website has published a mass of leaked diplomatic cables that embarrassed several governments and international businesses, says the sex was consensual and the allegations against him are politically motivated. The Supreme Court last month ruled in favour of a High Court ruling that his extradition was legal. Last week the Supreme Court refused an attempt by him to reopen his appeal against extradition, saying it was "without merit". He had until June 28 to ask European judges in Strasbourg to consider his case and postpone extradition on the basis that he has not had a fair hearing from the UK courts. A statement issued on behalf of the Ecuadorian Embassy said Mr Assange would remain at the embassy while his request was considered.
Sunday, 17 June 2012
Police study Murdoch's 'secret' iPhone account
Scotland Yard detectives investigating phone hacking at the News of the World are examining the call records of four newly discovered Apple iPhones issued to senior executives at News International. The smartphones, issued by O2 in a contract beginning in October 2009, included a handset given to James Murdoch, the former chairman and chief executive of News Corp Europe. Despite billing for the phones totalling nearly £12,000 between June last year and May this year, neither Operation Weeting nor the Leveson Inquiry was told of the existence of the smartphone accounts. Phone text messages and emails sent and received by News International executives and advisers have provided some of the most controversial evidence heard by Lord Justice Leveson's inquiry into press practices and ethics. It had been assumed that the email and text traffic from key News International executives was centred solely on their company BlackBerry account with Vodafone. In accounts seen by The Independent, issued through 02's corporate customer services at Arlington Business Park in Leeds, Mr Murdoch's iPhone account is listed as "active". Mr Murdoch is said to have told 02 that he specifically wanted a "white iPhone" when the smartphone was issued to him in the summer of 2009. Katie Vanneck-Smith, listed as News International's chief marketing officer, also has an active account. Two other NI executive numbers are described as disconnected. Between June last year – just before The Guardian revealed in July that the mobile phone of murdered schoolgirl Milly Dowler had been hacked into – and the beginning of the Leveson Inquiry in November, the NI iPhone accounts were billed for £9,650. Last night, Labour MP Tom Watson said people would be "shocked" to learn that the smartphones had been issued to key NI executives, while the company's disclosures focused only on the BlackBerry Vodafone accounts. Mr Watson said he hoped that News Corp's Management and Standards Committee, which is responsible for all matters relating to phone hacking, would enforce its own promise of full transparency and appropriate disclosure, by revealing all the data and logs held on the discovered phones to both the police and the Leveson Inquiry. Last night, a spokeswoman for News International, said: "Mr Murdoch fully co-operated with the Leveson Inquiry. It is ridiculous to suggest that James Murdoch keeps or kept a 'secret phone'." Meanwhile sources close to the Leveson Inquiry have denied that Lord Justice Leveson threatened to quit his judicial investigation following comments made in February by Michael Gove. The Education Secretary told a gathering of political journalists that the inquiry into press ethics and practices was creating a "chilling atmosphere" towards press freedom. During Prime Minister's Questions in the Commons the day after Mr Gove's lobby speech, David Cameron appeared to back his cabinet colleague's view. Concern that Mr Gove might be the Prime Minister's advance messenger prompted Lord Justice Leveson to call the Cabinet Secretary, Sir Jeremy Heywood. Whitehall sources say Lord Justice Leveson wanted to learn directly from Mr Cameron whether his inquiry was wasting public money on an ultimately futile exercise or whether his initial remit stood. Although the reassurances from No 10 took two days to arrive, sources claim there was no threat from the judge to resign from his own inquiry.
Thursday, 7 June 2012
Bank of England meets amid talk of £50bn stimulus
Bank of England policymakers meet today to decide whether to change interest rates or to pump in more money into the ailing economy, with leading economist saying they may opt to inject a further £50bn of stimulus.
Europe is on the verge of financial chaos.
Global capital markets, now the most powerful force on earth, are rapidly losing confidence in the financial coherence of the 17-nation euro zone. A market implosion there, like that triggered by Lehman Brothers collapse in 2008, may not be far off. Not only would that dismantle the euro zone, but it could also usher in another global economic slump: in effect, a second leg of the Great Recession, analogous to that of 1937. This risk is evident in the structure of global interest rates. At one level, U.S. Treasury bonds are now carrying the lowest yields in history, as gigantic sums of money seek a safe haven from this crisis. At another level, the weaker euro-zone countries, such as Spain and Italy, are paying stratospheric rates because investors are increasingly questioning their solvency. And there’s Greece, whose even higher rates signify its bankrupt condition. In addition, larger businesses and wealthy individuals are moving all of their cash and securities out of banks in these weakening countries. This undermines their financial systems. 423 Comments Weigh InCorrections? Personal Post The reason markets are battering the euro zone is that its hesitant leaders have not developed the tools for countering such pressures. The U.S. response to the 2008 credit market collapse is instructive. The Federal Reserve and Treasury took a series of huge and swift steps to avert a systemic meltdown. The Fed provided an astonishing $13 trillion of support for the credit system, including special facilities for money market funds, consumer finance, commercial paper and other sectors. Treasury implemented the $700 billion Troubled Assets Relief Program, which infused equity into countless banks to stabilize them. The euro-zone leaders have discussed implementing comparable rescue capabilities. But, as yet, they have not fully designed or structured them. Why they haven’t done this is mystifying. They’d better go on with it right now. Europe has entered this danger zone because monetary union — covering 17 very different nations with a single currency — works only if fiscal union, banking union and economic policy union accompany it. Otherwise, differences among the member-states in competitiveness, budget deficits, national debt and banking soundness can cause severe financial imbalances. This was widely discussed when the monetary treaty was forged in 1992, but such further integration has not occurred. How can Europe pull back from this brink? It needs to immediately install a series of emergency financial tools to prevent an implosion; and put forward a detailed, public plan to achieve full integration within six to 12 months. The required crisis tools are three: ●First, a larger and instantly available sovereign rescue fund that could temporarily finance Spain, Italy or others if those nations lose access to financing markets. Right now, the proposed European Stability Mechanism is too small and not ready for deployment. ●Second, a central mechanism to insure all deposits in euro-zone banks. National governments should provide such insurance to their own depositors first. But backup insurance is necessary to prevent a disastrous bank run, which is a serious risk today. ●Third, a unit like TARP, capable of injecting equity into shaky banks and forcing them to recapitalize. These are the equivalent of bridge financing to buy time for reform. Permanent stability will come only from full union across the board. And markets will support the simple currency structure only if they see a true plan for promptly achieving this. The 17 member-states must jointly put one forward. Both the rescue tools and the full integration plan require Germany, Europe’s strongest country, to put its balance sheet squarely behind the euro zone. That is an unpopular idea in Germany today, which is why Chancellor Angela Merkel has been dragging her feet. But Germany will suffer a severe economic blow if this single-currency experiment fails. A restored German mark would soar in value, like the Swiss franc, and damage German exports and employment. The time for Germany and all euro-zone members to get the emergency measures in place and commit to full integration is now. Global capital markets may not give them another month. The world needs these leaders to step up.
Monday, 4 June 2012
A Facebook crime every 40 minutes
A crime linked to Facebook is reported to police every 40 minutes. Last year, officers logged 12,300 alleged offences involving the vastly popular social networking site. Facebook was referenced in investigations of murder, rape, child sex offences, assault, kidnap, death threats, witness intimidation and fraud.
Wednesday, 30 May 2012
Leveson - The Hunt is on
Up until now, Lord Justice Leveson has only held the future of the British press in his hands. Today, despite all his protests to the contrary, his inquiry may determine the fate of the culture secretary, Jeremy Hunt. The judge insists that it is not his job to put any minister in the dock and that he certainly will not be giving his verdict on whether there have been any breaches of the ministerial code. Nevertheless, the prime minister has made it clear that he sees today's hearing as the moment when Mr Hunt must defend his much criticised handling of News Corp's £8bn bid for total control of BSkyB. The culture secretary has, I'm told, submitted more than 160 pages of internal memos, emails and text message transcripts to the Leveson Inquiry. I understand that he will insist that, despite having originally been a cheerleader not just for Rupert Murdoch but also for his bid, he acted in ways which frustrated it rather than accelerated it once he was made the minister in charge. He will claim that he referred it to the broadcasting regulator Ofcom when told by officials that it wasn't necessary to do so. He is likely to face questions about why he did not follow Ofcom's advice to refer the bid to the Competition Commission. He is likely to reply that he was given legal advice that he had first to consider News Corps offer to spin off Sky News so as to deal with so-called plurality issues. The culture secretary is likely to be asked how he can claim to have been unaware of the scale or nature of the contact between News Corp and his political adviser, Adam Smith - who resigned once his flood of emails and texts were revealed. I understand that Jeremy Hunt originally believed that his adviser had done nothing wrong and told friends he would resign himself rather than letting a junior official resign for him. The prime minister shows no sign yet of wanting to force him out - believing that however bad things may now look, Mr Hunt didn't actually do anything wrong or anything which helped the Murdochs and their bid. Labour argue that - even before today's hearing - it is evident the culture secretary should go as he is in breach of the ministerial code for failing to supervise his adviser, and for misleading the House of Commons when he wrongly asserted he had published all contacts between his department and News Corp - as well as claiming never to have intervened to affect the outcome of the bid.
Coulson on Sheridan perjury charge
David Cameron's former communications chief Andy Coulson has been charged over allegations he committed perjury during the trial of former MSP Tommy Sheridan. The 44-year-old was detained for questioning at Govan police station in Glasgow by officers from Strathclyde Police. More than six hours later, the force confirmed he had been arrested and charged with perjury. A report will be sent to the procurator fiscal which will decide if Coulson is to face court proceedings. The former News of the World editor gave evidence at Sheridan's perjury trial at the High Court in Glasgow in December 2010, while he was employed by Downing Street as director of communications. At the trial, he claimed he had no knowledge of illegal activities by reporters during the time that he was editor of the now-defunct newspaper. He said: "I don't accept there was a culture of phone hacking at the News of the World." Sheridan was ultimately jailed for three years in January last year after being found guilty of perjury during his 2006 defamation action against the News of the World. He had been awarded £200,000 in damages after winning the civil case but a jury found him guilty of lying about the tabloid's claims that he was an adulterer who visited a swingers' club. The former Scottish Socialist Party (SSP) leader was convicted of five out of six allegations in a single charge of perjury relating to his evidence during the civil action at the Court of Session in Edinburgh. Sheridan was released from jail in January this year after serving one year of his sentence and vowed to continue the fight to clear his name. Coulson was arrested last year in relation to Scotland Yard's long-running investigation into phone hacking at the newspaper. He was held in July on suspicion of conspiring to intercept communications and corruption, and had his bail extended earlier this month. Coulson resigned as editor in 2007 after the paper's former royal editor Clive Goodman and private investigator Glenn Mulcaire were jailed for phone hacking. In May that year, he was unveiled as director of communications and planning with the Conservative Party. He quit his role as Downing Street communications chief in January last year after admitting the News of the World phone-hacking row was making his job impossible.
Julian Assange's fight to evade extradition to Sweden appears doomed despite stay of execution
Julian Assange's fight to evade extradition to Sweden appeared doomed today though he was given a stay of execution by the highest court in the land. His celebrity-endorsed legal battle trundled on without him as the self-proclaimed champion of truth and transparency remained stuck in London's notorious traffic, undoubtedly disappointing his legion of fans. While vastly diminished in number from the early days of the furore surrounding the WikiLeaks founder, they were as vociferous as ever, penned in outside the Supreme Court yesterday, carrying megaphones, guitars and banners proclaiming “Free Assange” and “God Save Julian”. Mr Assange, 40, had argued that an European Extradition Warrant from Sweden to face allegations of rape and sexual molestation was invalid as the public prosecutor who issued it did not constitute a “judicial authority”. He denies the accusations, insisting they are “politically motivated”. His case was partially trumped by the French translation of the words judicial authority, which judges at the Supreme Court said carried a far wider meaning that simply a judge or court. By a majority of five to two they decided the practice by many European countries to have public prosecutors issue such warrants countered the interpretation in United Kingdom and his appeal failed. Nevertheless they granted his lawyers 14 days to apply to have the case re-opened after they insisted that they had not been given an opportunity to argue on the very legal points on which the judges had based their decision.
FORMER Downing Street communications chief Andy Coulson has been arrested on suspicion of committing perjury during the Tommy Sheridan trial
Andy Coulson has been arrested on suspicion of perjury. Picture: Getty
FORMER Downing Street communications chief Andy Coulson has been arrested on suspicion of committing perjury during the Tommy Sheridan trial at the High Court in Glasgow, the Crown Office said today.
The 44-year-old was detained in London this morning by officers from Strathclyde Police.
Coulson gave evidence in Mr Sheridan’s perjury trial at the High Court in Glasgow in December 2010.
He was also arrested last year in relation to Scotland Yard’s long-running investigation into phone-hacking at the News of the World.
He was held in July on suspicion of conspiring to intercept communications and corruption and had his bail extended earlier this month.
A Strathclyde Police spokesman said: “Officers from Strathclyde Police Operation Rubicon detained a 44-year-old man in London this morning under section 14 of the Criminal Procedures Scotland Act on suspicion of committing perjury before the High Court in Glasgow.
“It would be inappropriate to comment any further at this time.”
It is understood Coulson is on his way to Glasgow.
Operation Rubicon detectives have been looking at whether certain witnesses lied to the court during Sheridan’s trial as part of a “full” investigation into phone hacking in Scotland.
Mr Coulson, then employed by Downing Street as director of communications, told the trial in December 2010 he had no knowledge of illegal activities by reporters while he was editor of the News of the World.
He also claimed: “I don’t accept there was a culture of phone hacking at the News of the World.”
