Exclusive recession debate: Mandelson v Clarke

Link to the article: Channel 4 News

By Channel 4 News

Exclusive: Ken Clarke and Peter Mandelson do battle over the future of post-recession UK in the first "big beast" debate of the unofficial election campaign.

In a TV first, the former chancellor and current business secretary clashed on a series of issues - from spending to national debt and the prospect of tax hikes - with Jon Snow at one point being forced to "call a truce".

In almost comical scenes, the arch-enemies accused each other of "irrelevance" and "nonsense" as Mandelson insisted that, at root, they were in agreement.

Reacting to this morning's 0.1 per cent growth figure, Mr Mandelson said: "Thankfully the economy now is in positive growth, but the economy remains fragile.

"The recession is behind us. What's important is locking it in, rather than pulling away government support."

The shadow business secretary countered: "We have to turn this into real growth. The problem is it will not grow until we tackle the deficit.

"This is a plateau, mainly because of what the Bank of England has done. The fact we've just barely got into growth shows nothing is really happening yet. Unless we tackle the deficit, growth won't grow."

Online Video: Time of Crisis

The Year of Global Change

Venezuela will slash value of currency, the bolivar

Link to the article: BBC News

Venezuela's President Hugo Chavez has announced that the national currency, the bolivar, will be devalued for the first time since 2005, by at least 17%.

3D and e-readers Big Talk of CES

Link to the article: Reuters Video

Virgin Money deal paves way for own High Street bank

Link to the article: BBC News

Virgin Money has positioned itself for an assault on the UK retail banking market after buying regional bank Church House Trust.

Virgin will pay £12.3m for the bank and invest £37.3m into the business.

Under the Virgin Money brand, the company will use the bank to offer savings and mortgages products.

Analysts say that the deal allows it to control a banking licence and potentially to cherry-pick some sections of Northern Rock in time.

"The Church House Trust business offers us a strong platform for growth," said Virgin group founder Sir Richard Branson.

Food industry attacked for nanotechnology

Link to the article: Channel 4 News

The House of Lords science and technology committee criticises the food industry for its secret research into nanotechnology as "completely the wrong approach". Julian Rush reports.

Royal Mail launches rock album stamps

Link to the article: Channel 4 News

Album sales in Britain have fallen for the fifth year running according to new figures out today, but undeterred Royal Mail has released a collectors edition of twelve stamps of classic covers, from The Clash to Mike Oldfield's Tubular Bells. Stephanie West has been speaking to designers behind the famous images.

The helicopter controlled by the iPhone

Link to the article: Channel 4 News

Channel 4 News technology correspondent Benjamin Cohen looks at the Drone, a toy helicopter that is controlled using an iPhone.

The product that gained the most attention at the consumer electronics show preview event was an iPhone powered drone from French manufacturer Parrot.

Buffett and Kraft's Cadbury plans

Link to the article: Reuters Video

Jan. 7 - Kraft's hopes of taking over UK confectioner Cadbury have been boosted by a change in the fortunes of both companies - partly due to one of the richest men in the world.

Sonia Legg, Reuters

Edgy London adverts spark debate

Link to the article: Reuters Video

Jan 6 - A new UK ad campaign is hoping to demonstrate the effectiveness of outdoor advertising with provocative billboards such as 'Career Women Make Bad Mothers'.

Matt Cowan reports.

The new Google phone: the Nexus One unveiled

Link to the article: Channel 4 News

It is already the byword for searching the internet but now Google has launched its first piece of own-branded hardware - with a new smart phone called the Nexus One. Benjamin Cohen reports.

Two years ago; the day before the press launch of the Consumer Electronic Show (CES), Apple announced the launch of the iPhone. An announcement that overshadowed the rest of the show.

Today it seems that Google have done the same with the announcement of the Nexus One, a mobile phone manufactured by HTC but designed to a Google specification using the Android operating system which is being sold direct to customers by Google.

Kraft sweetens Cadbury bid

Link to the article: Reuters Video

Jan. 5 - Kraft raised the cash portion of its near $16-1/2 billion offer for Britian's Cadbury, but major investor Warren Buffett does not approve.

Google unveils Nexus One smartphone

Link to the article: Reuters Video

Jan. 5 - Gadget lovers finally get a peek at the much anticipated phone from Google. Bobbi Rebell, Reuters

Google VP Mario Queiroz unveiling the web giant's first direct to consumer smartphone on a webcast. The Nexus One will run on Google's own Android operating system and will feature a touchscreen display. Google is also opening up an online store so consumers can purchase the phone directly.

Its cost: $179 with a contract with TMobile. A Verizon Wireless version will be available in the spring -- as well as a Vodafone version for Europe.

But for consumers who want to forgo a subsidized plan- they can buy a so-called unlocked version for $529.

The Farmer Who Diversified

Link to the article: BBC Working Lunch

Kent farmer Anthony Curwen was losing money, but thanks to some creative thinking he's now back in the black.

His goal is to make each of his 1800 acres profitable, whether that involves farming or not. Working Lunch reporter Rachel Burden went to meet him.

Ryanair slammed for 'puerile' payment policy

Link to the article: Channel 4 News

By Channel 4 News

The no-frills airline Ryanair has been strongly criticised for exploiting legal loopholes to allow it to advertise fares without mentioning the cost of credit card bookings.

Passengers who book Ryanair tickets pay a £5 credit and debit card fee per person per flight, unless they pay with a Mastercard prepaid card.

A family of four would pay £40 for a return flight. This exemption means the airline can legally advertise tickets for £5, without mentioning the card payment fees which most customers will have to pay.

In an interview with the Independent newspaper, the chief executive of the Office of Fair Trading, John Fingleton, called the charging policy "puerile".

He told the paper: "It's almost like taunting consumers and pointing out: 'Oh well, we know this is completely outside the spirit of the law, but we think it's within the narrow letter of the law'."

ABTA spokesperson Frances Tuke said: "Rayanair is an airline that has always tried to increase its revenue by adding optional extras onto the booking process.

"And we believe at ABTA - and also the law believes too - that there should be as much transparency as possible when it comes to booking flights, so that the process is very fair."

In October, the OFT launched an investigation into internet marketing practices, including the so-called "drip-pricing" strategy used by airlines such as Ryanair, where charges such as booking fees and baggage charges are added on during the buying process, so the final bill is substantially larger than the initial advertised figure.

Until late last year, the exemption only applied to the obscure Visa electron cards – and many regular fliers opened accounts with these cards just to avoid Ryanair booking fees.

The exemption was then switched to the Mastercard prepaid cards. A Ryanair spokesman said: "The Mastercard prepaid is more widely available across Europe and we encourage people to make that switch."

He added: "Ryanair is not for the overpaid John Fingletons of this world but for the everyday Joe Bloggs who opt for Ryanair's guaranteed lowest fares because we give them the opportunity to fly across 26 European countries for free, £5 and £10."