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.
Friday, 30 April 2010
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.
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