Link to the article: The Independent
Shares in Ferrovial, the Spanish construction group that owns BAA, the Heathrow and Stansted airport operator, are under pressure after it emerged that the Coalition will introduce tough fines on underperforming airports.
BAA has come under fire for cancelling flights and even briefly shutting Heathrow airport during the cold snap. The company has been heavily criticised for not having enough de-icer to clear its runways during the crisis. It had stockpiled supplies sufficient for just 10 days.
Wednesday, 29 December 2010
BAA in war of words with BA as Heathrow disruption continues
Link to the article: The Independent
By Simon Calder, Senior Travel Editor
As 50,000 more travellers saw their Christmas plans wrecked by yesterday's flight cancellations at Heathrow, a war of words broke out between the airport owner, BAA, and its biggest customer. British Airways cancelled 150 flights on the basis of what it says turned out to be misleading guidance from the airport operator about when the second runway would reopen.
And as BAA's chief executive, Colin Matthews, bowed to pressure to forgo his bonus, the airport operator warned that it could deny access to airlines who fail to demonstrate their capacity to cope with a future crisis. But it is understood that BAA's board rubber-stamped a £10m snow investment programme on Tuesday after Mr Matthews acknowledged Heathrow's lack of equipment had been exposed.
Unemployment forecast brings warning for George Osborne
Link to the article: The Guardian
CIPD says pressing on with austerity measures would depress economy and lead to real-term wage cuts
Unemployment was yesterday predicted to rise by 200,000 to 2.7m by the end of 2011, adding to pressure on the chancellor, George Osborne, to delay the most severe cuts in public spending since the second world war.
The Chartered Institute of Personnel and Development (CIPD) warned in its annual employment barometer that the proportion of people out of work will hit 9% after widespread job losses in both public and private sectors. The human resources managers' professional body said pressing on with austerity measures would depress the economy and force employers to restrict pay rises, leading to a real-term cut in wages during the year.
Friday, 24 December 2010
Meccano toys - now Made in France, again
Link to the article: BBC News
If you have been buying toys for children this Christmas, chances are they were made in China.
But one toy company has decided to buck the trend and to repatriate production back from China to Europe.
And the company is not any old name: the construction kit maker Meccano has been around since the end of the 19th century and is now based in France.
Hugh Schofield reports.
Meccano revives French production
If you have been buying toys for children this Christmas, chances are they were made in China.
But one toy company has decided to buck the trend and to repatriate production back from China to Europe.
And the company is not any old name: the construction kit maker Meccano has been around since the end of the 19th century and is now based in France.
Hugh Schofield reports.
Meccano revives French production
Tuesday, 21 December 2010
Banks used to have 'a social purpose'
Link to the article: The Today Programme (BBC Radio 4)
The Queen's bank, Coutts & Co, is one of the oldest banks in the world.
Adam Shaw spoke to its chief executive Michael Morley about the role of banks in society.
The Queen's bank, Coutts & Co, is one of the oldest banks in the world.
Adam Shaw spoke to its chief executive Michael Morley about the role of banks in society.
Vince Cable: I Have Declared War on Mr Murdoch
Link to the article: Channel 4 News
The Coalition has "bent over backwards" to keep Vince Cable in Government despite his comments that he had "declared war on Murdoch" over News Corp's deal to take over BSkyB, writes Gary Gibbon.
The Coalition has "bent over backwards" to keep Vince Cable in Government despite his comments that he had "declared war on Murdoch" over News Corp's deal to take over BSkyB, writes Gary Gibbon.
BAA boss refuses bonus over snow
Link to the article: BBC News
As thousands of passengers are still camped out at Heathrow, much anger is turning towards the company responsible for running the airport, BAA.
The airport operator has faced criticism ranging from being too slow to get Heathrow back up and running - the snow stopped on Saturday but one of its two runways only reopened on Tuesday evening - to a lack of information to customers, to not enough investment in dealing with snow and ice.
BAA boss denies Heathrow is under-prepared
Link to the article: BBC 5 Live Radio
The Chief Executive of BAA, which operates Heathrow, has refuted allegations that the airport has not invested in enough snow clearing equipment.
The Chief Executive of BAA, which operates Heathrow, has refuted allegations that the airport has not invested in enough snow clearing equipment.
Wednesday, 15 December 2010
Unemployment Rises to 2.5 Million
Link to the article: Channel 4 News
Two and a half million people are now unemployed while the number of young people out of work soars to one of its highest levels in another bad blow to Britain's delicate economy, writes Faisal Islam.
New figures out today show unemployment rose by 35,000 in the third quarter of the year - taking experts by surprise and raising the threat that Britain, like the United States, could be heading into a "jobless recovery".
Almost one in five young people aged 16-24 are now out of work - while more than a million women are now jobless - the highest total for more than 20 years.
Around the country, the worse hit regions were Yorkshire, Northern Ireland and the North East - while the Midlands saw the single biggest rise in unemployment.
Tuesday, 14 December 2010
Price Rise in Food and Clothes Blamed for Inflation Increase
Link to the article: Channel 4 News
A record surge in food and clothing costs has driven up inflation for November, as Gary Gibbon writes that parts of the government are still looking at the potential for a "double-dip" recession.
The Consumer Prices Index (CPI) went up to 3.3 per cent last month, from 3.2 per cent in October, according to the Office for National Statistics (ONS).
The increase was driven by a 1.6 per cent rise in the cost of food and non-alcoholic drinks and a 2 per cent increase in clothing and footwear costs, which are the highest increases for both sectors in an October to November period since records began. The price of furniture and household equipment also rose.
Sunday, 12 December 2010
China sets policy to rein in inflation
Link to the article: Financial TimesBy Geoff Dyer in Beijing and Patti Waldmeir in Shanghai
China will step up efforts to fight inflation next year after prices rose more than 5 per cent in November, according to a statement released after an annual economic policy meeting in Beijing.
The 5.1 per cent rise in the consumer price index in November was higher than expected, and up from 4.4 per cent in October. It is also well above the government’s 3 per cent inflation target and will increase pressure on the authorities to raise interest rates and further rein in the huge monetary stimulus of the past two years.
What did banks do? It's not clear. What do they pay? They can't say. Why did they fail? It's a secret
Link to the article: The Guardian
The banking collapse is a tale of opacity and confusion. Now even the public report into RBS's collapse is confidential. We need transparency in banking, and we need it now.
By Andrew Clark
Fred the Shred could be at liberty to drive another bank into oblivion. Sir Fred Goodwin, the former boss of Royal Bank of Scotland, has escaped any regulatory penalty over the near collapse of the once mighty Caledonian institution. To universal frustration, the nation's financial watchdog won't tell us why.
Editor-At-Large: If women have it all now, they can thank my generation
Link to the article: The Independent
By Janet Street-Porter
Last week, the long struggle for equal pay reached a historic turning point. The latest statistics show that, on average, a woman in her twenties will earn 2.1 per cent more than a man of the same age. It's taken so long, and so much hard work.
By Janet Street-Porter
Last week, the long struggle for equal pay reached a historic turning point. The latest statistics show that, on average, a woman in her twenties will earn 2.1 per cent more than a man of the same age. It's taken so long, and so much hard work.
Proof that a business based on happiness can change the world
Link to the article: The Independent
Twenty years ago, a young entrepreneur set up a travel company that aimed to do far more than turn a profit. Despite the recent recession, it's never been more successful. Mary Novakovich meets its founder.
Bruce Poon Tip was already on his fourth business when he launched Gap Adventures 20 years ago at the age of 23, with the help of two credit cards and some savings.
The Canadian's entrepreneurial streak first showed itself in his paper round as a 12-year-old, before he started to breed rabbits a year later. "It wasn't just breeding rabbits. You make it sound so cheap," he says in a mock-wounded tone. "I imported the first set of Dutch dwarf rabbits into Canada. I sold only the females and offered stud services for the males. I knew people would breed their own males eventually. Until then, I controlled the product."
Twenty years ago, a young entrepreneur set up a travel company that aimed to do far more than turn a profit. Despite the recent recession, it's never been more successful. Mary Novakovich meets its founder.
Bruce Poon Tip was already on his fourth business when he launched Gap Adventures 20 years ago at the age of 23, with the help of two credit cards and some savings.
The Canadian's entrepreneurial streak first showed itself in his paper round as a 12-year-old, before he started to breed rabbits a year later. "It wasn't just breeding rabbits. You make it sound so cheap," he says in a mock-wounded tone. "I imported the first set of Dutch dwarf rabbits into Canada. I sold only the females and offered stud services for the males. I knew people would breed their own males eventually. Until then, I controlled the product."
Sean O'Grady: Population rise gives India the edge over one-child China
Link to the article: The Independent
One of the more disturbing realities facing the nation this festive season is that the cuts aren't just for Christmas – they're for life.
Face it. Your local library will never reopen; VAT will stick at 20 per cent for ages; higher tuition fees are here to stay. Indeed, I would guess that they could quite conceivably go beyond £9,000 a year, in a second coalition, or Conservative, term equipped with a bigger parliamentary majority.
Complete marketisation of fees might not be practicable, on the grounds, for example that the nation would be left with no doctors if it cost students hundreds of thousands to train. But there is plenty of room for the more rewarding courses (in salary terms) to grow still more expensive. Before any students get ready to push unpleasant parcels through my letterbox, I must stress that I'm not advocating this policy, merely pointing it out. Sadly, even if the parties promise to cap them at that level, who would believe them? Short of the NUS fielding its own candidates in student strongholds, I don't know how they could be guaranteed as reliable allies in Parliament. Even then, it would need young people to remember to register to vote. Pretty hopeless, really.
One of the more disturbing realities facing the nation this festive season is that the cuts aren't just for Christmas – they're for life.
Face it. Your local library will never reopen; VAT will stick at 20 per cent for ages; higher tuition fees are here to stay. Indeed, I would guess that they could quite conceivably go beyond £9,000 a year, in a second coalition, or Conservative, term equipped with a bigger parliamentary majority.
Complete marketisation of fees might not be practicable, on the grounds, for example that the nation would be left with no doctors if it cost students hundreds of thousands to train. But there is plenty of room for the more rewarding courses (in salary terms) to grow still more expensive. Before any students get ready to push unpleasant parcels through my letterbox, I must stress that I'm not advocating this policy, merely pointing it out. Sadly, even if the parties promise to cap them at that level, who would believe them? Short of the NUS fielding its own candidates in student strongholds, I don't know how they could be guaranteed as reliable allies in Parliament. Even then, it would need young people to remember to register to vote. Pretty hopeless, really.
Saturday, 11 December 2010
Ten dead as H1N1 flu returns to Britain
Link to the article: Reuters
(Reuters) - The H1N1 swine flu virus which swept the globe last year has returned to Britain with 10 people dying in the last six weeks, health officials said on Saturday.
Case Study 3: How Pernod Ricard has tackled the challenge of gathering and using data from over 70 subsidiaries around the world
Link to the podcast: FT
Case study 3: How Pernod Ricard has tackled the challenge of gathering and using data from over 70 subsidiaries around the world.
Case study 3: How Pernod Ricard has tackled the challenge of gathering and using data from over 70 subsidiaries around the world.
Friday, 10 December 2010
Logistical leaps help small companies go global
Link to the article: BBC News
Even a decade ago, it would be difficult to imagine eating fresh camel-milk chocolates in other parts of the world
Making expensive chocolates in the middle of the Arabian Desert seems foolhardy enough.
But how do you get them from there to the rest of the world without delivering a sticky mess?
Al Nassma Chocolate is based in Dubai, and makes its luxury sweets from the milk of camels, which are of course found only in some of the hottest places on Earth.
"Most of the demand for chocolate is from Europe, Asia and the US, so we are challenged getting our products to the consumer," says Martin van Almsick, general manager at Al Nassma.
"Our biggest challenge is just getting the chocolates from the factory to the airport, when the temperature is at 50C (122F)."
And these include delicate hollow chocolate camels, which are extremely difficult to transport.
But, using light aluminium packaging and layered ice-packs made by a German firm and a dedicated route to the runway devised by the shipping giant UPS, it is being done.
UPS guarantees Al Nassma that its chocolates will arrive almost anywhere in the world in perfect condition in 48 hours.
Pizza Express: come here often?
Link to the article: Reuters Video
Dec. 10 - UK restaurant chain Pizza Express has engaged a communications expert to teach staff the art of seductive conversation.Hayley Platt reports.
Dec. 10 - UK restaurant chain Pizza Express has engaged a communications expert to teach staff the art of seductive conversation.Hayley Platt reports.
The Scotsman newspaper sales dip to new low
Link to the article: BBC News
Sales of The Scotsman newspaper have slipped to their lowest level in modern times, according to the latest figures.
The Scotsman's sales figure in November was 42,829 - slightly worse than the previous low in July, which is always a bad month for newspaper sales.
Its Glasgow rival, The Herald, recorded sales last month of 52,736 - its second worst figure in recent decades.
As recently as January 2007, The Herald sold 72,000 copies while The Scotsman sold more than 60,000.
The figures - provided by industry body ABC - chronicle the continuing circulation difficulties facing most Scottish and UK national newspapers.
While the Herald and Scotsman have seen their sales drop close to record lows, there will be some relief that there was only a small drop between October and November.
But the story was different at The Herald's sister title the Sunday Herald.
Its sales fell from 42,289 in October to 41,464 in November - possibly in response to a price rise from £1 to £1.30.
Sales of The Scotsman newspaper have slipped to their lowest level in modern times, according to the latest figures.
The Scotsman's sales figure in November was 42,829 - slightly worse than the previous low in July, which is always a bad month for newspaper sales.
Its Glasgow rival, The Herald, recorded sales last month of 52,736 - its second worst figure in recent decades.
As recently as January 2007, The Herald sold 72,000 copies while The Scotsman sold more than 60,000.
The figures - provided by industry body ABC - chronicle the continuing circulation difficulties facing most Scottish and UK national newspapers.
While the Herald and Scotsman have seen their sales drop close to record lows, there will be some relief that there was only a small drop between October and November.
But the story was different at The Herald's sister title the Sunday Herald.
Its sales fell from 42,289 in October to 41,464 in November - possibly in response to a price rise from £1 to £1.30.
Wikileaks and Shell Oil
Link to the article: The Guardian
WikiLeaks: The oil giant Shell claimed it had inserted staff into all the main ministries of the Nigerian government, giving it access to politicians' every move in the oil-rich Niger Delta, according to a leaked US diplomatic cable.
Mulberry
Link to the article: The Guardian
And Mulberry's luxury leather handbags are in big demand around the world, as the company increasingly becomes a global brand. During the six months to the end of September, it opened new stores in Hong Kong, Korea, Qatar and UAE
Hershey
Link to the article: The Guardian
And there was good news for British fans of Hershey's Kisses. The US confectionery giant is launching a sales drive to put its chocolates into the hands of more European consumers
Wednesday, 8 December 2010
Renault F1 team to be renamed Lotus Renault GP in 2011
Link to the 'full' article: BBC Sport
The Renault car company has sold its remaining shares in the eponymous Formula 1 team, which will be renamed Lotus Renault in 2011.
Renault was left with a 25% shareholding in the team in 2010 after selling the remainder to private investment group Genii Capital.
Those shares have been sold to Genii and will be then taken by Lotus Cars, which is owned by Proton.
The move means there will be two F1 teams in 2011 with Lotus in their name.
The team that competed as Lotus Racing in 2010 will be renamed Team Lotus after buying the historic rights to the name under which Lotus raced from the 1960s until collapsing with financial difficulties in 1994.
Team Lotus boss Tony Fernandes, the owner of the Air Asia airline, is in dispute with Proton over the rights to use the Lotus name in F1.
The cars produced by Lotus Renault will still be called Renaults - changing that would need the permission of all the other F1 teams.
The Renault car company has sold its remaining shares in the eponymous Formula 1 team, which will be renamed Lotus Renault in 2011.
Renault was left with a 25% shareholding in the team in 2010 after selling the remainder to private investment group Genii Capital.
Those shares have been sold to Genii and will be then taken by Lotus Cars, which is owned by Proton.
The move means there will be two F1 teams in 2011 with Lotus in their name.
The team that competed as Lotus Racing in 2010 will be renamed Team Lotus after buying the historic rights to the name under which Lotus raced from the 1960s until collapsing with financial difficulties in 1994.
Team Lotus boss Tony Fernandes, the owner of the Air Asia airline, is in dispute with Proton over the rights to use the Lotus name in F1.
The cars produced by Lotus Renault will still be called Renaults - changing that would need the permission of all the other F1 teams.
Tuesday, 7 December 2010
Cloud computing 'could give EU 763bn-euro boost'
Link to the article: BBC News
Widespread adoption of cloud computing could give the top five EU economies a 763bn-euro (£645bn; $1tn) boost over five years, a report has said.
The CEBR said it could also create 2.4m jobs. The technology gives software and computing power on demand over the net.
But experts warn that cloud computing can be very disruptive to business, and companies could end up "disillusioned".
"Nothing kills a new technology better than a poor user experience," said Damian Saunders of Citrix.
The report, by the Centre for Economics and Business Research (CEBR), was commissioned by EMC, a data storage and IT solutions firm that provides cloud computing services. The company is just one of many pushing into the sector, all saying that 2011 will be the year of the cloud, when the technology will find mainstream adoption.
When a company uses cloud computing, it does not build all IT infrastructure by itself. Instead, it rents storage, computing power or software services from other companies. The services are accessed via the internet, which in network diagrams is shown as a cloud, hence the name.
Widespread adoption of cloud computing could give the top five EU economies a 763bn-euro (£645bn; $1tn) boost over five years, a report has said.
The CEBR said it could also create 2.4m jobs. The technology gives software and computing power on demand over the net.
But experts warn that cloud computing can be very disruptive to business, and companies could end up "disillusioned".
"Nothing kills a new technology better than a poor user experience," said Damian Saunders of Citrix.
The report, by the Centre for Economics and Business Research (CEBR), was commissioned by EMC, a data storage and IT solutions firm that provides cloud computing services. The company is just one of many pushing into the sector, all saying that 2011 will be the year of the cloud, when the technology will find mainstream adoption.
When a company uses cloud computing, it does not build all IT infrastructure by itself. Instead, it rents storage, computing power or software services from other companies. The services are accessed via the internet, which in network diagrams is shown as a cloud, hence the name.
Monday, 6 December 2010
Manufacturing the dream: Game changing new production
Link to the video: BBC News
Dream maker: New manufacturing techniques make designing products like the Glif, above, an accessible reality
At one time or another many of us have had a great idea for a product. So good, we can see it clearly in our heads.
Dream maker: New manufacturing techniques make designing products like the Glif, above, an accessible reality
At one time or another many of us have had a great idea for a product. So good, we can see it clearly in our heads.
Saturday, 4 December 2010
Topshop Protests Over Sir Philip Green's Taxes
Link to the article: Channel 4 News
Demonstrators have taken part in UK-wide protests over Topshop boss Sir Philip Green's tax affairs. They allege that he avoided paying hundreds of millions of pounds.
Protesters forced Topshop's main UK store to close its doors today during a demonstration against alleged tax avoidance by big businesses.
The action is focusing on the shop's owner, and government adviser, Sir Philip Green. The group claims Sir Philip deliberately tried to avoid paying hundreds of millions of pounds of UK tax by channelling £1.2 billion worth of funds from his Arcadia retail empire into an offshore vehicle registered to his wife in Monaco.
The Brighton branch of Topshop, where demonstrators have glued their hands to the windows, was also been forced to close. Protests are also taking place in Glasgow, Leeds, Bristol, Liverpool, Manchester and Nottingham. There have been further unscheduled demos at Vodafone shops.
One campaigner in London said: "I am a peaceful protester. A woman was being thrown out of the store and I objected so I was picked up by two private security men.
Wednesday, 1 December 2010
Tata Nano car sales sink by 85%
Link to the article: BBC News
Sales of Tata Motors' Nano, the world's cheapest car, plunged by 85% in November compared with a year earlier, the Indian carmaker has said.
It blamed the slump on the difficulty potential customers had in accessing loans to buy the car.
However, analysts pointed out that a series of fires in the Nano, as well as price rises, had also affected sales.
Tata said its total sales across all models in November were 54,622, a rise of 1% on a year earlier.
The carmaker also said that sales of its Jaguar Land Rover-branded models "continued their upward trend".
Tuesday, 30 November 2010
BA strike ballot overshadows merger
Link to the article: Reuters Video
Nov.30 - Shareholder approval of British Airways merger with Spain's Iberia is overshadowed by news of a fresh strike ballot by BA's cabin crew union Unite.Sonia Legg reports.
Nov.30 - Shareholder approval of British Airways merger with Spain's Iberia is overshadowed by news of a fresh strike ballot by BA's cabin crew union Unite.Sonia Legg reports.
Sky's the limit for BA and Iberia
Link to the article: Reuters Video
Nov.30 - British Airways and Spain's Iberia officially announce a merger of the two carriers that will create the world's third-largest airline by revenue.Sonia Legg reports.
Nov.30 - British Airways and Spain's Iberia officially announce a merger of the two carriers that will create the world's third-largest airline by revenue.Sonia Legg reports.
Monday, 29 November 2010
Cuts and VAT Rise Leave UK Economy Uncertain
Link to the article: Channel 4 News
The budgetary watchdog sees an "uncertain" future for the UK economy - but predicts public sector job losses will be much lower than forecast. Chancellor George Osborne says "Britain is on the mend".
The budgetary watchdog sees an "uncertain" future for the UK economy - but predicts public sector job losses will be much lower than forecast. Chancellor George Osborne says "Britain is on the mend".
Tech start-ups: Does location matter?
Link to the video: BBC News
Once a year Oxford University plays host to the Silicon Valley in Oxford event, when some of the Californian technology hotspot's leading personalities descend on the town.
But is location still important for tech start-ups? Or can you run your business from almost anywhere in the world, thanks to the power of the internet?
The BBC's Rory Cellan Jones asked entrepreneur and investor Joichi Ito, and Elizabeth Varely, founder of TechHub.
Once a year Oxford University plays host to the Silicon Valley in Oxford event, when some of the Californian technology hotspot's leading personalities descend on the town.
But is location still important for tech start-ups? Or can you run your business from almost anywhere in the world, thanks to the power of the internet?
The BBC's Rory Cellan Jones asked entrepreneur and investor Joichi Ito, and Elizabeth Varely, founder of TechHub.
Friday, 26 November 2010
Cloned Cattle Meat and Milk 'Safe to Eat'
Link to the article: Channel 4 News
Selling meat and milk from cloned animals and their offspring is a step nearer after a team of government advisers said it is safe to consume, writes science Correspondent Julian Rush.
Highly controversial, embryos of cloned animals are used to breed livestock, but this practice came under intense scrutiny during the summer when it emerged meat and milk from the offspring of cloned cows had reached UK shops.
Tuesday, 9 November 2010
Why should you care about currency wars?
Link to the video: BBC News
As global economies struggle to emerge from the worldwide credit crunch, the pressure is on countries to make their currencies as competitive as possible.
The BBC's economics editor Stephanie Flanders explains the background to the so-called 'currency wars', one of the big issues to be addressed at the G20 summit in Seoul.
As global economies struggle to emerge from the worldwide credit crunch, the pressure is on countries to make their currencies as competitive as possible.
The BBC's economics editor Stephanie Flanders explains the background to the so-called 'currency wars', one of the big issues to be addressed at the G20 summit in Seoul.
Tuesday, 26 October 2010
UK Economic Growth Better Than Expected
Link to the article: Channel 4 News
UK economic growth in the third quarter grew by a better than expected 0.8 per cent. Our Economics Editor, Faisal Islam says it's the best day of news for George Osborne since he became Chancellor.
UK economic growth in the third quarter grew by a better than expected 0.8 per cent. Our Economics Editor, Faisal Islam says it's the best day of news for George Osborne since he became Chancellor.
Wednesday, 20 October 2010
Unions Condemn Spending Review Job Losses
Link to the article: Channel 4 News
George Osborne said it was the day Britain stepped back from the brink. But union leaders tell Channel 4 News the spending review will lead to "wholesale unemployment".
The Chancellor confirmed that almost 500,000 public sector jobs were set to be axed as a result of the spending review, leading to warnings from union leaders that the UK was being condemned to "unnecessary wholesale unemployment".
Unison described the cuts as "ideologically driven" and accused the Government of failing to consider that there was a fairer alternative.
Monday, 11 October 2010
IMF fails to curb currency war fears
OCT.11 - Fears of an international currency war grow as International Monetary Fund weekend meeting fails to tackle tensions in money markets.Penny Tweedie reports.
Microsoft unveils new phones
Oct 11 - Summary of the early headlines: Microsoft aims to restart mobile phone unit; Wall Street expecting big bonus. Conway G. Gittens reports
Virgin spaceship's first solo flight
Oct 11 - The world's first commercial spacecraft, operated by Virgin Group, successfully completes its inaugural solo test flight.
Emerging economies snap up big brands
Link to the article: Financial Times
By Louise Lucas in London
Emerging market buyers are swooping on food and drink assets in the developed world – in some cases relieving private equity investors of holdings that have already been shuffled between sponsors.
Bright Food of China is in exclusive talks to buy United Biscuits from private equity owners Blackstone and PAI Partners in a deal that would value the maker of British favourites such as Jaffa Cakes and Twiglets at £2.5bn ($4bn), it emerged last month.
By Louise Lucas in London
Emerging market buyers are swooping on food and drink assets in the developed world – in some cases relieving private equity investors of holdings that have already been shuffled between sponsors.
Bright Food of China is in exclusive talks to buy United Biscuits from private equity owners Blackstone and PAI Partners in a deal that would value the maker of British favourites such as Jaffa Cakes and Twiglets at £2.5bn ($4bn), it emerged last month.
Monday, 27 September 2010
Bank of England: Savers Should Eat Into Cash
Link to the article: Channel 4 News
Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain's savers should "eat into" their reserve cash now to help them survive historically low interest rates.
Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain's savers should "eat into" their reserve cash now to help them survive historically low interest rates.
Thursday, 23 September 2010
Link to the article: Chnnel 4 News
The economic euphoria of the 'go go years' quickly turned to bust as the credit crisis rocked banks and entire continents. But what lessons have been learned by global finance?
Tuesday, 7 September 2010
Google reveals TV plans
Sep. 7 - The internet search giant Google is planning to launch its TV service in the U.S. this autumn according to Chief Executive Eric Schmidt. (00:56)
Friday, 27 August 2010
UK Economic Growth Overshadowed by US Data
Link to the article: Channel 4 News
The US Federal Reserve says it will "do all that it can" to prevent a double-dip recession as US growth is revised sharply lower. David Blanchflower explains how this threatens UK economic growth.
Mr Blanchflower, former Bank of England policymaker, said all the evidence from 2008 shows that a few months after the US went into a deep recession, the UK followed. The UK economy posted its best quarterly performance in almost a decade today. Output in the UK grew by 1.2 per cent during the second quarter of 2010, the Office for National Statistics said, surpassing previous estimates of 1.1 per cent gross domestic product (GDP) growth.
Friday, 23 July 2010
Tuesday, 22 June 2010
Age of Austerity: Political Response
Link to the article: Channel 4 News
George Osborne's emergency budget kick-started the government's plans to cut the deficit. Was he VATman, public spending slasher, or responsible chancellor, asked political editor Gary Gibbon.
George Osborne's emergency budget kick-started the government's plans to cut the deficit. Was he VATman, public spending slasher, or responsible chancellor, asked political editor Gary Gibbon.
Sunday, 9 May 2010
BP seek solution after oil spill setback
Link to the article: Channel 4 News
By Julian Rush
Updated on 09 May 2010
Methane ice crystals halt BP's attempt to stem the flow of oil gushing from its well in the Gulf of Mexico. Methane too may have been the original cause of the fire.
The huge, 93 ton, steel and concrete box that BP had hoped to place over the leaking pipe from the well head has been moved 200 metres to one side while engineers decide what to do.
As they lowered it into position, a sludge of methane ice crystals began forming in the top of the box, clogging the hole where BP had hoped to fit a pipe to take the oil to a ship on the surface.
The methane comes from the oil itself, dissolved in it in the pores of the rock beneath the sea bed. Indeed, methane may have been the cause of the original fire.
Professor Robert Bea from the University of California Berkeley, a former engineering consultant to BP, says he has seen transcripts of interviews with three survivors of the blast on the Deepwater Horizon rig. They say a gusher of oil and water spurted out of the top of the drill pipe on the rig as a bubble of methane gas rose up the drill column from the depths.
Alarms designed to warn of the highly flammable gas failed to go off, they said, and the huge cloud of invisible, odourless methane enveloped the rig and was ignited, perhaps by a spark from electrical equipment or motors.
By Julian Rush
Updated on 09 May 2010
Methane ice crystals halt BP's attempt to stem the flow of oil gushing from its well in the Gulf of Mexico. Methane too may have been the original cause of the fire.
The huge, 93 ton, steel and concrete box that BP had hoped to place over the leaking pipe from the well head has been moved 200 metres to one side while engineers decide what to do.
As they lowered it into position, a sludge of methane ice crystals began forming in the top of the box, clogging the hole where BP had hoped to fit a pipe to take the oil to a ship on the surface.
The methane comes from the oil itself, dissolved in it in the pores of the rock beneath the sea bed. Indeed, methane may have been the cause of the original fire.
Professor Robert Bea from the University of California Berkeley, a former engineering consultant to BP, says he has seen transcripts of interviews with three survivors of the blast on the Deepwater Horizon rig. They say a gusher of oil and water spurted out of the top of the drill pipe on the rig as a bubble of methane gas rose up the drill column from the depths.
Alarms designed to warn of the highly flammable gas failed to go off, they said, and the huge cloud of invisible, odourless methane enveloped the rig and was ignited, perhaps by a spark from electrical equipment or motors.
Monday, 3 May 2010
BP Gulf Coast oil spill poses 'logistical nightmare'
Link to the article: Channel 4 News
By Channel 4 News
Updated on 03 May 2010
As BP admits the operation to keep its oil spill away from the Louisiana coast could take three months, one expert tells Alex Thomson it is "a logistical nightmare".
The race to keep the oil offshore, as BP admits it could be three months before the leak is fully sealed.
Today saw a further fall in BP’s share price mid the unfolding disaster in the Gulf of Mexico. How long will it take to tame the gushing well 5,000 feet below sea level?
The company hopes to drop a dome over it before siphoning the oil flow away - but that will take a week. And to stem the leak altogether could take at least three months.
Tony Hayward, the head of BP, promised today that the company would pay for the leak, as he outlined plans to try to contain the massive oil spill in the Gulf of Mexico . President Obama has called the leak a “massive and potentially unprecedented environmental disaster”.
Mr Hayward admitted it could be three months before the flow of oil from the ruptured well is capped. For now, the company is trying to drop giant metal hoods directly over the leaking pipe.
The spill has been growing steadily since an explosion sank the Deepwater Horizon rig eleven days ago. Scientists think it may have tripled in size and could threaten coastlines further east - towards Alabama.
By Channel 4 News
Updated on 03 May 2010
As BP admits the operation to keep its oil spill away from the Louisiana coast could take three months, one expert tells Alex Thomson it is "a logistical nightmare".
The race to keep the oil offshore, as BP admits it could be three months before the leak is fully sealed.
Today saw a further fall in BP’s share price mid the unfolding disaster in the Gulf of Mexico. How long will it take to tame the gushing well 5,000 feet below sea level?
The company hopes to drop a dome over it before siphoning the oil flow away - but that will take a week. And to stem the leak altogether could take at least three months.
Tony Hayward, the head of BP, promised today that the company would pay for the leak, as he outlined plans to try to contain the massive oil spill in the Gulf of Mexico . President Obama has called the leak a “massive and potentially unprecedented environmental disaster”.
Mr Hayward admitted it could be three months before the flow of oil from the ruptured well is capped. For now, the company is trying to drop giant metal hoods directly over the leaking pipe.
The spill has been growing steadily since an explosion sank the Deepwater Horizon rig eleven days ago. Scientists think it may have tripled in size and could threaten coastlines further east - towards Alabama.
Friday, 30 April 2010
Ecological disaster looms as oil from damaged BP well head reaches US shoreline
Link to the article: Channel 4 News
By Kris Jepson
Updated on 30 April 2010
The prospect of an ecological disaster looms along America’s vulnerable Gulf of Mexico coastline as oil from a damaged BP well head begins to wash ashore. But BP’s head of group media tells Channel 4 News that the cause of the accident is still not known.
It is BP’s fourth major incident in the United States in as many years.
The rig exploded last Friday, killing 11 men. One week on, oil is still belching out of the open well hole, 5,000 feet below sea level, at the rate of 5,000 barrels a day.
Desperate efforts have been launched to try to protect the wildlife habitats along the coast.
President Obama has ordered a complete halt on oil exploration in the area.
The White House has suspended any new exploration in the Gulf pending the review of last week's explosion on the Deepwater Horizon oil rig.
By Kris Jepson
Updated on 30 April 2010
The prospect of an ecological disaster looms along America’s vulnerable Gulf of Mexico coastline as oil from a damaged BP well head begins to wash ashore. But BP’s head of group media tells Channel 4 News that the cause of the accident is still not known.
It is BP’s fourth major incident in the United States in as many years.
The rig exploded last Friday, killing 11 men. One week on, oil is still belching out of the open well hole, 5,000 feet below sea level, at the rate of 5,000 barrels a day.
Desperate efforts have been launched to try to protect the wildlife habitats along the coast.
President Obama has ordered a complete halt on oil exploration in the area.
The White House has suspended any new exploration in the Gulf pending the review of last week's explosion on the Deepwater Horizon oil rig.
Sunday, 25 April 2010
China gains clout at World Bank
Link to the article: Reuters
Apr 25 - The World Bank agreed to give emerging economies greater influence in the institution, a shift that puts China third in voting power behind the U.S. and Japan. Jon Decker reports.
Apr 25 - The World Bank agreed to give emerging economies greater influence in the institution, a shift that puts China third in voting power behind the U.S. and Japan. Jon Decker reports.
Friday, 23 April 2010
Greece asks EU-IMF for rescue loans
Link to the article: Channel 4 News
By Channel 4 News
Updated on 23 April 2010
Debt-laden Greece has formally asked for a 45bn euro emergency bailout from the International Monetary Fund and the European Union.
The first injection of funds is expected in under a month, yet the news did little to ease uncertainty in the financial markets.
City experts deemed the move a temporary sticking plaster for a long-awaited bailout.
"The true fact of the matter is that 45 billion isn't enough to sort out the Greek problem", David Morrison, market strategist at GFT Global said.
Indeed, shares in Greek banks crept up just 0.1 per cent before the markets closed.
Meanwhile, queries over how the loan would be paid and what delays might occur were raised.
"Concerns remain during this transitory phase as regards the terms that will be asked for the loans with markets also watching the process of aid approval," said analyst Nick Galousis at Kappa Securities in Athens.
By Channel 4 News
Updated on 23 April 2010
Debt-laden Greece has formally asked for a 45bn euro emergency bailout from the International Monetary Fund and the European Union.
The first injection of funds is expected in under a month, yet the news did little to ease uncertainty in the financial markets.
City experts deemed the move a temporary sticking plaster for a long-awaited bailout.
"The true fact of the matter is that 45 billion isn't enough to sort out the Greek problem", David Morrison, market strategist at GFT Global said.
Indeed, shares in Greek banks crept up just 0.1 per cent before the markets closed.
Meanwhile, queries over how the loan would be paid and what delays might occur were raised.
"Concerns remain during this transitory phase as regards the terms that will be asked for the loans with markets also watching the process of aid approval," said analyst Nick Galousis at Kappa Securities in Athens.
Friday, 9 April 2010
Innocent smoothie denies sell-out after Coca-Cola gets majority stake
Link to the article: Guardian
Innocent insists founders will keep operational control despite 58% of shares going to Coca-Cola.
The founder of Innocent smoothies denied last night he had sold out to Coca Cola despite allowing the US multinational to swallow a 58% stake in the small and ethically-minded British business.
Richard Reed said the existing directors would continue to control Innocent and their goal of bringing healthy drinks to a global market could only be enhanced by a transaction estimated to be worth £75m.
"I genuinely believe that this is not a selling out but a continuation of our work. There will be no change in the commitment to natural healthy food, to sustainability and to giving 10% of our profits to charity.
"We remain in full operational control of the business and we should be able to proceed towards our goal of taking Innocent to every country in the world," he added.
Innocent, which markets itself as Europe's favourite smoothie company, is the latest in a long line of UK firms falling into the hands of foreign ownership but is also another example of a business set up with high-minded goals that has been taken over by a very large and conservatively-run predator.
Cadbury, which had caused adverse comment by buying up the Green and Black chocolate firm, was itself recently bought up by Kraft of America while Body Shop has been acquired by L'Oreal and Pret a Manger by McDonald's.
Innocent has been working with Coke since the US group took an initial 18% stake in the business last year. The latest deal sees a further 40% of Innocent change hands, largely due to the disposal of shares by one of the original "angel" investors in Innocent.
But Reed and his co-founders, Adam Balon and Jon Wright, have also sold a small number of their shares giving Coke the 58% stake while protecting their ability to run the company in the way they want by legal agreement, they say.
Tuesday, 6 April 2010
Toyota sees sales surge amid safety woes after slashing prices
Link to the article: Guardian.co.uk
After the most testing year in the company's 73-year history, Toyota executives can perhaps afford to greet the new financial year with guarded optimism after last month's dramatic sales increases in the US and Japan.
The rebound was to be expected after the catastrophic collapse in sales prompted by the global recession, but the firm will be more encouraged by signs that its recent safety recall of more than 8.5m cars has so far failed to deliver the killer blow many had expected.
The world's biggest carmaker saw US sales rise 41% in March from a year earlier, having fallen 16% year-on-year in January and 9% in February.
Toyota attributed its March performance to a series of incentives that gave buyers discounts of up to $2,250 (£1,480) a vehicle last month.
The sweeteners, which included interest-free loans and discount leases, were introduced after the company's disastrous handling of complaints involving defective brakes and accelerators.
After the most testing year in the company's 73-year history, Toyota executives can perhaps afford to greet the new financial year with guarded optimism after last month's dramatic sales increases in the US and Japan.
The rebound was to be expected after the catastrophic collapse in sales prompted by the global recession, but the firm will be more encouraged by signs that its recent safety recall of more than 8.5m cars has so far failed to deliver the killer blow many had expected.
The world's biggest carmaker saw US sales rise 41% in March from a year earlier, having fallen 16% year-on-year in January and 9% in February.
Toyota attributed its March performance to a series of incentives that gave buyers discounts of up to $2,250 (£1,480) a vehicle last month.
The sweeteners, which included interest-free loans and discount leases, were introduced after the company's disastrous handling of complaints involving defective brakes and accelerators.
Monday, 29 March 2010
Bribery case may harm China's image
Link to the article: Reuters Video
Mar 29 - As Rio Tinto executives are sentenced to jail on bribery and secrets charges, analysts say China's business image may be harmed.
Anna McIntosh reports.
Mar 29 - As Rio Tinto executives are sentenced to jail on bribery and secrets charges, analysts say China's business image may be harmed.
Anna McIntosh reports.
New Greek bond will test EU plan
Link to the article: Reuters
Mar 29 - Greece launches its first bond since the Eurozone leaders approved an aid package for the struggling country.
Anna McIntosh reports.
Mar 29 - Greece launches its first bond since the Eurozone leaders approved an aid package for the struggling country.
Anna McIntosh reports.
Sunday, 28 March 2010
China's Geely buys Volvo for $1.8bn
Link to the article: BBC News
Volvo has been sold to China's biggest privately-owned car firm, Geely, from US car giant Ford for $1.8bn (£1.2bn).
Loss-making Volvo has been on the market since 2008, when Ford put it and several other brands up for sale.
Joe Lynam reports.
Volvo has been sold to China's biggest privately-owned car firm, Geely, from US car giant Ford for $1.8bn (£1.2bn).
Loss-making Volvo has been on the market since 2008, when Ford put it and several other brands up for sale.
Joe Lynam reports.
Teenage kicks: Doc Martens turn 50
Link to the article: BBC News
Doc Marten boots, the fashion staple of musical genres from ska to grunge, are about to celebrate their 50th anniversary.
To celebrate the landmark, a new exhibition has been launched in Northampton, where the iconic boots were first made.
Ben Godfrey reports.
Doc Marten boots, the fashion staple of musical genres from ska to grunge, are about to celebrate their 50th anniversary.
To celebrate the landmark, a new exhibition has been launched in Northampton, where the iconic boots were first made.
Ben Godfrey reports.
Peru hails Western carbon offsetting programmes
Link to the article: BBC News
Nestle Waters France wants to offset emissions from its factories in the west by buying trees in a rainforest thousands of miles away.
It is not the first and it will not be the last time a multinational company publicly declares its green intentions.
But the public has become used to greeting such announcements with indifference.
There is widespread scepticism about the genuine green credentials of big firms trying to clean up their image in this way - critics say it is inefficient at best, corrupt at worst.
That may be why Nestle Waters France is betting on the credentials of France's hottest young environmentalist, Tristan Lecomte, and his carbon management company, The Pure Project, to execute its plan.
Mr Lecomte, 36, is on his way to becoming a household name in his native France.
In 1998 he founded the country's best known fair trade company, Alter Eco. Now he is turning his combination of vision and business acumen to tackling climate change.
Nestle Waters France wants to offset emissions from its factories in the west by buying trees in a rainforest thousands of miles away.
It is not the first and it will not be the last time a multinational company publicly declares its green intentions.
But the public has become used to greeting such announcements with indifference.
There is widespread scepticism about the genuine green credentials of big firms trying to clean up their image in this way - critics say it is inefficient at best, corrupt at worst.
That may be why Nestle Waters France is betting on the credentials of France's hottest young environmentalist, Tristan Lecomte, and his carbon management company, The Pure Project, to execute its plan.
Mr Lecomte, 36, is on his way to becoming a household name in his native France.
In 1998 he founded the country's best known fair trade company, Alter Eco. Now he is turning his combination of vision and business acumen to tackling climate change.
Saturday, 27 March 2010
Second BA strike begins
Link to the article: Channel 4 News
There has been more disruption to flights today as the second wave of British Airways strike began, although the airline has said that 75% of its passengers are unaffected. Andrew Thomas reports.
British Airways cabin crew set up picket lines outside airports today for the second weekend in a row as the latest industrial action began.
Chief executive Willie Walsh declined to give interviews to the media, but was seen milling about amongst passengers at Heathrow.
When one passenger asked how the airline would cope with the next few days, Walsh said: "It's going to be busy but I am hopeful that everything will go to plan. It's going really well today - and I'm glad you were able to get away on your holiday as well."
However, the airline and the union Unite continue to disagree about how badly the strike is affecting BA - not least in how many of its staff are on strike.
There has been more disruption to flights today as the second wave of British Airways strike began, although the airline has said that 75% of its passengers are unaffected. Andrew Thomas reports.
British Airways cabin crew set up picket lines outside airports today for the second weekend in a row as the latest industrial action began.
Chief executive Willie Walsh declined to give interviews to the media, but was seen milling about amongst passengers at Heathrow.
When one passenger asked how the airline would cope with the next few days, Walsh said: "It's going to be busy but I am hopeful that everything will go to plan. It's going really well today - and I'm glad you were able to get away on your holiday as well."
However, the airline and the union Unite continue to disagree about how badly the strike is affecting BA - not least in how many of its staff are on strike.
Coffee inhaler hits the market
Link to the article: Reuters Video
Mar. 27 - A new plastic inhaler that delivers an instant coffee hit is released onto the market.
Simon Hanna reports.
Mar. 27 - A new plastic inhaler that delivers an instant coffee hit is released onto the market.
Simon Hanna reports.
Friday, 26 March 2010
Google's rift with China is a calculated business risk
Link to the article: BBC News
Google's move into China four years ago was billed by some people as a battle between the irresistible force and the immovable object.
The inexorable expansion of the internet - epitomised by Google - would never exist happily in a command economy like China, said critics.
By taking its search engine onto Chinese soil - and thus agreeing to Beijing's censorship rules - Google was accused of trading reputation for profit.
On Monday, however, Google pulled its search facility out of mainland China, redirecting users to an uncensored site in Hong Kong.
What now for both profits and reputation? Has it shut the door on the world's biggest internet market?
The Great Firewall
China has hit back at Google, limiting its citizens' use of the search facility through web filters that are collectively known as the Great Firewall.
And some of Google's business partners are already starting to distance themselves from the company.
Google's move into China four years ago was billed by some people as a battle between the irresistible force and the immovable object.
The inexorable expansion of the internet - epitomised by Google - would never exist happily in a command economy like China, said critics.
By taking its search engine onto Chinese soil - and thus agreeing to Beijing's censorship rules - Google was accused of trading reputation for profit.
On Monday, however, Google pulled its search facility out of mainland China, redirecting users to an uncensored site in Hong Kong.
What now for both profits and reputation? Has it shut the door on the world's biggest internet market?
The Great Firewall
China has hit back at Google, limiting its citizens' use of the search facility through web filters that are collectively known as the Great Firewall.
And some of Google's business partners are already starting to distance themselves from the company.
Times websites to charge for online stories
Link to the article: Channel 4 News
Readers of the The Times and Sunday Times will have to pay to read articles on its website from June, the papers' owner News International (NI) has announced. But newspaper bosses Channel 4 News spoke to disagree over whether the plans will be a success.
The papers' articles and comment pieces are currently available to be read for free on the Times Online website.
News International said it would launch new websites in May for both papers, which would then charge for access from June. Web users will pay £1 for a day's access, and £2 to subscribe for a week.
They will be offered extra web content as an incentive to pay, the company said.
Industry analysis suggests just five per cent of the current Times Online readership of 20 million users will subscribe.
Sunday Times editor John Witherow admitted to Channel 4 News that "only a fraction will pay" to access his paper's content online.
However he believed these readers would be worth more in financial terms to NI: "The ones who are going to pay are going to be loyal readers who just love the Sunday Times and The Times," he said.
Channel 4 News revealed last August that the Sunday Times was planning to charge web users to read its content on the internet.
NI has suggested its other papers, The Sun and News of the World is likely to follow the move.
The Financial Times is currently the only national UK newspaper to charge for online access.
Newspapers across the world have been struggling to make money from the internet, and NI's move will be watched closely by its rivals.
Rupert Murdoch, the chairman of News Corporation, signalled last August his plans to charge to read his newspapers online.
His company's titles include the Times and Sunday Times, along with the Wall Street Journal and the Australian.
"Quality journalism is not cheap," he said.
"The digital revolution has opened many new and inexpensive distribution channels but it has not made content free. We intend to charge for all our news websites."
Mr Murdoch also threatened to prevent the Google from using News Corporation stories on its search indexes.
Critics say the decision by NI to charge for reading The Times and Sunday Times online could backfire.
Readers of the The Times and Sunday Times will have to pay to read articles on its website from June, the papers' owner News International (NI) has announced. But newspaper bosses Channel 4 News spoke to disagree over whether the plans will be a success.
The papers' articles and comment pieces are currently available to be read for free on the Times Online website.
News International said it would launch new websites in May for both papers, which would then charge for access from June. Web users will pay £1 for a day's access, and £2 to subscribe for a week.
They will be offered extra web content as an incentive to pay, the company said.
Industry analysis suggests just five per cent of the current Times Online readership of 20 million users will subscribe.
Sunday Times editor John Witherow admitted to Channel 4 News that "only a fraction will pay" to access his paper's content online.
However he believed these readers would be worth more in financial terms to NI: "The ones who are going to pay are going to be loyal readers who just love the Sunday Times and The Times," he said.
Channel 4 News revealed last August that the Sunday Times was planning to charge web users to read its content on the internet.
NI has suggested its other papers, The Sun and News of the World is likely to follow the move.
The Financial Times is currently the only national UK newspaper to charge for online access.
Newspapers across the world have been struggling to make money from the internet, and NI's move will be watched closely by its rivals.
Rupert Murdoch, the chairman of News Corporation, signalled last August his plans to charge to read his newspapers online.
His company's titles include the Times and Sunday Times, along with the Wall Street Journal and the Australian.
"Quality journalism is not cheap," he said.
"The digital revolution has opened many new and inexpensive distribution channels but it has not made content free. We intend to charge for all our news websites."
Mr Murdoch also threatened to prevent the Google from using News Corporation stories on its search indexes.
Critics say the decision by NI to charge for reading The Times and Sunday Times online could backfire.
Green rules block Heathrow expansion plans
Link to the article: Channel 4 News By Felicity Spector
Government plans to expand the third runway at London's Heathrow airport have been sent back to the drawing board after a judge ruled the project's climate change and economic impact must be reviewed.
A coalition of local councils, green groups and residents claimed the Government's entire Heathrow policy was now "in tatters" - and contradicted Britain's overall climate change targets.
Lord Justice Carnwath supported their argument that the government's support for a third runway, first pledged in 2003 and then again last year, must now be reviewed.
The judge ruled the government's entire aviation policy must now take into account the implications of the 2008 Climate Change Act.
The judge said objectors had shown "a powerful demonstration of the potential significance of developments in climate change policy since the 2003 Air Transport White Paper".
Anti-expansion protesters claimed victory, saing the ruling had sent government plans to expand the third runway at Heathrow back to the drawing board.
Government plans to expand the third runway at London's Heathrow airport have been sent back to the drawing board after a judge ruled the project's climate change and economic impact must be reviewed.
A coalition of local councils, green groups and residents claimed the Government's entire Heathrow policy was now "in tatters" - and contradicted Britain's overall climate change targets.
Lord Justice Carnwath supported their argument that the government's support for a third runway, first pledged in 2003 and then again last year, must now be reviewed.
The judge ruled the government's entire aviation policy must now take into account the implications of the 2008 Climate Change Act.
The judge said objectors had shown "a powerful demonstration of the potential significance of developments in climate change policy since the 2003 Air Transport White Paper".
Anti-expansion protesters claimed victory, saing the ruling had sent government plans to expand the third runway at Heathrow back to the drawing board.
New in tech: touchless computers
Link to the article: Reuters Video
Mar 26 - Imagine being able to send an email with the wave of a hand, or play video games with the point of a finger. The reality may not be that far off. Julie Gordon reports.
Mar 26 - Imagine being able to send an email with the wave of a hand, or play video games with the point of a finger. The reality may not be that far off. Julie Gordon reports.
Toyota warning years before recall
Link to the article: Reuters Video
Mar. 26 - Toyota warned dealers of crash risk in 2007 -- two full years before a recall was issued over floormats which interfered with driving pedals.
Penny Tweedie reports.
Mar. 26 - Toyota warned dealers of crash risk in 2007 -- two full years before a recall was issued over floormats which interfered with driving pedals.
Penny Tweedie reports.
Wednesday, 24 March 2010
Budget 2010: how it affects you
Link to the article: Channel 4 News
hannel 4 News has been looking through the chancellor's speech with personal finance expert Jasmine Birtles to see how it affects you.
First-time buyers
Good news for first time buyers. The stamp duty threshold on homes doubles, up from £125,000 to £250,000.
But personal finance expert, Jasmine Birtles, believes buyers are still struggling to get a mortgage at the moment: "Unless you have an excellent credit history, a really large deposit (at least 20 per cent) and a regular, strong income it's very difficult to get a mortgage."
This increase will funded by an increase in stamp duty on properties worth more than £1m from April 2011. "Now there is more reason for the very rich to leave the country", says Birtles. "Wealth does trickle down so that could actually harm the economy."
There is also help for unemployed home owners. They get another six months of mortgage support.
Accounting for the "un-banked"
The chancellor has given a guarantee that everyone will have access to a bank account. The aim is to fight financial exclusion.
There are 1.75m adults in the UK who do not have a traditional bank account, more than half of whom are among the poorest fifth of the population, according to the treasury.
hannel 4 News has been looking through the chancellor's speech with personal finance expert Jasmine Birtles to see how it affects you.
First-time buyers
Good news for first time buyers. The stamp duty threshold on homes doubles, up from £125,000 to £250,000.
But personal finance expert, Jasmine Birtles, believes buyers are still struggling to get a mortgage at the moment: "Unless you have an excellent credit history, a really large deposit (at least 20 per cent) and a regular, strong income it's very difficult to get a mortgage."
This increase will funded by an increase in stamp duty on properties worth more than £1m from April 2011. "Now there is more reason for the very rich to leave the country", says Birtles. "Wealth does trickle down so that could actually harm the economy."
There is also help for unemployed home owners. They get another six months of mortgage support.
Accounting for the "un-banked"
The chancellor has given a guarantee that everyone will have access to a bank account. The aim is to fight financial exclusion.
There are 1.75m adults in the UK who do not have a traditional bank account, more than half of whom are among the poorest fifth of the population, according to the treasury.
Nano dress: Fashion meets function
Link to the article: Reuters Video
Mar 24 - Imagine a dress that charges your iPod, changes color on a whim and will someday even monitor your vital signs. Researchers developing "smart cotton" say their nano-particle fabric will do all that and more. Ben Gruber reports.
Mar 24 - Imagine a dress that charges your iPod, changes color on a whim and will someday even monitor your vital signs. Researchers developing "smart cotton" say their nano-particle fabric will do all that and more. Ben Gruber reports.
Insider traders - banks named
Link to the article: Reuters Video
Mar 24 - Top banks named in insider dealing swoop.
Penny Tweedie reports.
Mar 24 - Top banks named in insider dealing swoop.
Penny Tweedie reports.
Chocolate industry comments to Panorama
Link to the article: BBC Panorama
Chocolate manufacturers and industry bodies gave the following comments to Panorama regarding the programme Chocolate: The Bitter Truth.
The programme is Wednesday, 24 March on BBC One at 9pm and available to watch again in the UK on the BBC iPlayer.
Read Fairtrade's full response to Panorama here
Chocolate manufacturers and industry bodies gave the following comments to Panorama regarding the programme Chocolate: The Bitter Truth.
The programme is Wednesday, 24 March on BBC One at 9pm and available to watch again in the UK on the BBC iPlayer.
Read Fairtrade's full response to Panorama here
Cocoa slave tastes sweet freedom
Link to the Video: Panorama (Cocoa and Child Labour)
This Easter, Britons will eat their way through 80 million chocolate eggs but would we have such a sweet tooth if we knew how it was harvested?
Sixty per cent of cocoa beans found in chocolate on UK shop shelves are sourced in Ghana and Ivory Coast.
Fatao is a 12-year-old boy from Burkina Faso who Panorama discovers working on a cocoa farm in Ghana.
He is just one of thousands of trafficked children helping to feed the world's appetite for chocolate.
Panorama - Chocolate: The Bitter Truth is on BBC One, Wednesday 24 March at 2100GMT.
This Easter, Britons will eat their way through 80 million chocolate eggs but would we have such a sweet tooth if we knew how it was harvested?
Sixty per cent of cocoa beans found in chocolate on UK shop shelves are sourced in Ghana and Ivory Coast.
Fatao is a 12-year-old boy from Burkina Faso who Panorama discovers working on a cocoa farm in Ghana.
He is just one of thousands of trafficked children helping to feed the world's appetite for chocolate.
Panorama - Chocolate: The Bitter Truth is on BBC One, Wednesday 24 March at 2100GMT.
Tracing the bitter truth of chocolate and child labour
Link to the article: BBC Panorama
This Easter, Britons will eat their way through 80m chocolate eggs without the slightest taste of how the essential ingredient in our favourite treat is harvested.
The truth, as BBC Panorama reporter Paul Kenyon discovered when he posed as a cocoa dealer in West Africa, leaves a bitter taste.
In an investigation into the supply chain that delivers much of the chocolate sold in the UK - more than half a million tonnes a year - the BBC found evidence of human trafficking and child slave labour.
Panorama also found that there is no guarantee, despite safeguards, even with chocolate marketed as Fair trade, that child labour - as defined by the International Labour Organisation (ILO) - has not been involved in the supply chain.
This Easter, Britons will eat their way through 80m chocolate eggs without the slightest taste of how the essential ingredient in our favourite treat is harvested.
The truth, as BBC Panorama reporter Paul Kenyon discovered when he posed as a cocoa dealer in West Africa, leaves a bitter taste.
In an investigation into the supply chain that delivers much of the chocolate sold in the UK - more than half a million tonnes a year - the BBC found evidence of human trafficking and child slave labour.
Panorama also found that there is no guarantee, despite safeguards, even with chocolate marketed as Fair trade, that child labour - as defined by the International Labour Organisation (ILO) - has not been involved in the supply chain.
Tuesday, 23 March 2010
Google's next move
Link to the article: Reuters Video
Mar 23 - After re-directing users to its Hong Kong website, Google faces some big decisions about its future strategy. Bobbi Rebell reports.
Mar 23 - After re-directing users to its Hong Kong website, Google faces some big decisions about its future strategy. Bobbi Rebell reports.
Monday, 22 March 2010
Broadband turns on the taps
Link to the article: Reuters Video
Mar 22 - As Virgin Media debuts its 200 megabits per second ultra-fast broadband, visitors to the UK Ideal Home Show get a glimpse of "embedded devices" that promise to reinvent bathtime and bedtime. Technology correspondent, Matt Cowan reports.
Mar 22 - As Virgin Media debuts its 200 megabits per second ultra-fast broadband, visitors to the UK Ideal Home Show get a glimpse of "embedded devices" that promise to reinvent bathtime and bedtime. Technology correspondent, Matt Cowan reports.
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