Immigration: Cameron Vows To Curb Benefits

Tough new measures to curb immigrants' access to housing and benefits have been unveiled by David Cameron.

The Prime Minister used a keynote speech to warn those coming to Britain that they cannot expect "something for nothing".

From next year, arrivals from the European Union face being stripped of jobseekers' benefits after six months.

To stay on the allowance, they will have to prove that they have been actively looking for a job and stand a "genuine chance" of finding one.

Immigrants will also not become eligible for council houses until they have been in the country for two years, with local people given priority.

A new "local residence test" will be introduced this spring via fresh guidance to local authorities.

Immigrants will only be eligible for council housing after two years

Mr Cameron cited figures showing that nearly one in 10 new social lettings go to foreign nationals, up from 6.5% in 2007-08 to 9% in 2011-12.

He restated his view that net migration has to be slashed "radically" from hundreds of thousands a year to tens of thousands.

He signalled action against so-called "health tourism" that could mean non-EU nationals have to prove they hold insurance before getting care.

The NHS will be told to improve its performance on collecting fees due under deals with EU members, Iceland, Liechtenstein and Norway when their nationals are treated in the UK.

On illegal immigration, the maximum fine for companies employing illegal workers is being doubled to £20,000 and taskforces set up to discover any breaches.

The Government also plans to negotiate with other European states about making economically inactive migrants the responsibility of their home countries and limiting the amount of child benefit paid for children living abroad.

The Prime Minister said: "The reality is that you can't control immigration if you have a welfare system that takes no account of who it is paying out to.

"You can't control immigration if you have a healthcare system that takes no account of the people using it.

"And you can't control immigration if you have a housing policy that doesn't take account of how long people have lived and contributed to a local area. Under my direction this is changing."

Immigrants must prove they have a "genuine chance" of getting a job

Speaking in Ipswich, he attacked Labour for letting immigration get "far too high and badly out of control" and making Britain into a "soft touch".

Downing Street said the measures were designed to reduce the "pull factor" of incentives that encourage foreign nationals to come and settle in the UK.

Health Secretary Jeremy Hunt later revealed that he believes "significantly more" than £200m a year is being lost because most foreign patients ineligible for free NHS treatment are not being forced to pay up.

Hospitals have to chase the payments themselves, making it a lot easier for them to declare patients to be UK nationals and let the state cover the cost, he said.

Mr Hunt also questioned the need to give free access to GPs to tourists and foreign students, pointing out this does not happen in Australia or America.

However, the Government could face a battle in Europe as it tries to limit access to welfare. The European Commission is already warning it will look carefully at the changes.

Jonathon Todd, spokesman for employment and social affairs commissioner Laszlo Andor, said: "The Commission would have to scrutinise those proposals to make sure they were fully compatible with free movement of workers, rights of residence and social security co-ordination."

He insisted that there were already "very strong safeguards" in place, adding: "The vast majority of people who move to another member state do so to work, not to claim benefits."

Immigration is a top concern for voters and Mr Cameron is the latest party leader after Ed Miliband and Nick Clegg to address the issue in recent days.

UKIP leader Nigel Farage, in his spring conference address over the weekend, claimed one of the main reasons for his party's surge in popularity was his willingness to talk about it.

Concerns have been rising amid fears of an influx from Bulgaria and Romania when movement restrictions are loosened at the end of this year.

Mr Cameron's speech came as the UK Border Agency faced renewed criticism for its failure to tackle the backlog of asylum cases.

MPs on the Home Affairs select committee condemned the lack of progress as it warned the backlog would take 24 years to clear.

23.33 | 0 komentar | Read More

Thousands Of Jobs Saved As Blockbuster Bought

The troubled DVD and games rental chain Blockbuster has been bought, saving 2,000 jobs and 264 UK stores.

Administrators from accountants Deloitte said restructuring specialists Gordon Brothers Europe had purchased the company for an undisclosed sum.

Blockbuster collapsed in January amid competition from internet firms and the digital streaming of movies and games.

Joint Administrator Lee Manning, said: "Having identified a profitable core portfolio of stores we are pleased to have achieved this sale for creditors.

"Together with the previously announced store sales more than half of the original estate has been secured for ongoing use.

"This transaction provides Blockbuster a future in the UK and we owe a special vote of thanks to all the company's employees, suppliers and customers for helping us rescue the business."

Commenting on the acquisition, Frank Morton, the CEO of Gordon Brothers Europe, said: "We are delighted to announce the acquisition of Blockbuster.

"We acknowledge the industry is in transition; we know that we have a challenge ahead but there is still a market to be served.

"Blockbuster has a strong brand affinity and we believe that with the right mix of new product offering, new technologies, strategic management and marketing, we can bring new life to this high street staple.

"We look forward to working with employees, suppliers, landlords and other stakeholders to make this happen."

Blockbuster had struggled to adapt to the changing market amid rivalry from internet retailers including Netflix, Amazon's LoveFilm and iTunes, which now offers a movie rental service.

The devastating impact of the internet on Britain's high streets had already been laid bare by the demise of camera chain Jessops and electricals group Comet, which also cited competition from online players as a major reason for their decline.

23.33 | 0 komentar | Read More

Phone Giant Vodafone Considers US Withdrawal

Mobile phone giant Vodafone is reported to be mulling its exit from America in one of the largest corporate transactions of all time.

The Newbury-based company has recently been in talks with its US partner, Verizon Communications, over a sale of Vodafone's 45% stake in Verizon Wireless, which is America's largest mobile phone operator.

Options have included a merger of the two telecoms giants and the partial sale of Vodafone's stake but the UK company is now leaning towards making a clean break from America, according to the Sunday Times.

A deal could be struck as soon as this summer and be worth as much as $135bn (£88bn), which compares with AOL's record $164bn takeover of Time Warner in 2001.

Vodafone has a market capitalisation of £90bn, which means the bulk of its value is locked up in a business where it has no day-to-day control.

The company is likely to use the proceeds from any sale on a major European deal or a return of cash to shareholders.

However, chief executive Vittorio Colao is not thought to be in any hurry to quit America and may opt against selling the asset, the newspaper added.

23.33 | 0 komentar | Read More

Airfares: Heavier Passengers 'Should Pay More'

Airlines should make heavier passengers pay more for their plane tickets and lighter ones less, it has been suggested.

The controversial pay-as-you-weigh pricing scheme has been mooted by a Norwegian professor who argues that weight and space should be taken into account by airlines pricing their tickets.

Writing in this month's Journal of Revenue and Pricing Management, Dr Bharat P Bhatta has put forward three proposals.

The first would see fares directly linked to the weight of a person and their belongings, with a fixed rate for kilograms per passenger.

Under this method, a person weighing 60kg (132lb or 9st 6lb) would pay half the airfare of a 120kg (264lb or 18st 12lb) person.

Dr Bhatta's second proposal involves charging a fixed base rate, with an additional charge for heavier passengers to cover the extra costs.

Every passenger could have a different fare according to this option.

The professor's final suggestion is for passengers to have the same fare if they have an average weight, but this could be discounted for weights below a certain limit or added to for excess weight above it.

This option would result in three types of fares: high, average and low.

Dr Bhatta, of the Sogn og Fjordane University College in Norway, thinks the third option is most suitable for implementation.

"Charging according to weight and space is a universally accepted principle, not only in transportation, but also in other services," he said.

"As weight and space are far more important in aviation than other modes of transport, airlines should take this into account when pricing their tickets."

Dr Ian Yeoman, editor of the Journal of Revenue and Pricing Management, threw his weight behind the suggestion.

"For airlines, every extra kilogram means more expensive jet fuel must be burned, which leads to CO2 emissions and financial cost," he said.

"As the airline industry is fraught with financial difficulties, marginally profitable and has seen exponential growth in the last decade, maybe they should be looking to introduce scales at the check-in."

23.33 | 0 komentar | Read More

Eurostar Profit Boosted By More Foreigners

A boost in the number of non-EU passengers helped Channel Tunnel high-speed train company Eurostar more than double operating profits last year.

Carrying an increased number of American, Brazilian and Australian travellers, Eurostar saw its operating profit rise from £25m in 2011 to £52.3m in 2012.

In total, the company carried 9.9 million passengers last year compared with 9.7 million in 2011.

Sales revenue, though, was affected by exchange rate movements during the year and was fractionally down - reaching £799m in 2012 compared with £803m in 2011.

Passenger numbers were strong after the Olympics, with traffic up 5% in the last three months of last year compared with the October-December 2011 period.

While business passenger numbers remained flat last year, the leisure travel market rose 3%.

Non-EU passenger numbers grew 8% in 2012, as value improved for foreigners amid weakening of both the pound and euro against key currencies.

Eurostar chief executive Nicolas Petrovic said: "Despite the challenging economic climate, we delivered a strong performance in 2012.

"The combination of the Olympic Games and the Jubilee gave London a major boost - showcasing the city as a prime travel destination.

"Growth in traveller numbers was particularly strong in the fourth quarter of the year as European and international travellers flocked to the capital."

23.33 | 0 komentar | Read More

Qatar Tankers: Ships Dock In UK Amid Fuel Crisis

A gas tanker from Qatar is arriving in Britain as the wintry weather continues to deplete reserves.

The giant tanker, called Zarga, is due to dock in Milford Haven, Wales, carrying 266,000 cubic metres of liquefied natural gas (LNG).

The arrival follows the weekend docking of the Mekaines tanker - also from Qatar - at the Isle of Grain in Kent.

Together the vessels carry enough gas to power Britain for 12 hours.

A third Qatari tanker is due to arrive on Friday, while a vessel from Trinidad also set sail for Britain on Saturday.

The unseasonal cold snap has increased demand for heating and electricity and gas stocks are down to 10% of capacity.

Britain continues to shiver in the unseasonal weather

"We get our supplies from a diverse range of sources and the market is proving to be highly responsive to the UK's needs," Energy Minister John Hayes said.

He reassured Britons there would be no danger of shortages, and that the energy regulator and the National Grid were closely monitoring the situation.

"The UK's gas needs continue to be met," he said.

Concerns were raised on Thursday when it emerged that Britain had only enough stored gas to meet two days' demand.

Things got worse on Friday when one of the key European supply pipelines - from Belgium - was suddenly shut down after a component failed.

The pipeline was back in operation later on Friday afternoon, but gas doubled in price on the UK's energy markets.

The price fell back again but the incident highlighted Britain's dependence on imported gas.

National Grid has not been forced to use any of its emergency powers to cut gas to industry and redirect it to domestic consumers.

The energy consumer Ofgem said: "While gas supplies are tight at the moment and there is no room for complacency, Britain does benefit from a diverse range of gas supplies and National Grid has many tools to manage the system and to prevent householders' supplies from being disrupted."

The fuel crisis comes as it emerged that gas imported from the US will heat as many as 1.8 million UK homes from 2018.

British Gas owner Centrica said the 20-year contract, worth £10bn, would play an important role in ensuring the UK's energy security.

The first shipments, from the Sabine Pass liquefaction plant in Louisiana, are not due until September 2018.

The deal with Cheniere Energy Partners for 89 billion cubic feet of annual liquefied natural gas (LNG) volumes is the first time that the UK has entered into a formal gas import agreement with the US.

23.33 | 0 komentar | Read More

Boris Berezovsky's Body Removed From Home

Boris Berezovsky: A Profile

Updated: 10:23pm UK, Saturday 23 March 2013

Boris Berezovsky was once one of Russia's most powerful kingmakers, a member of the influential group of Russian tycoons referred to as the "oligarchs".

Born in Moscow in 1946, the son of a civil engineer, he gained a doctorate in applied mathematics, before becoming one of a number of Russian businessmen who took advantage of Perestroika.

He made his money founding the car company LogoVAZ in 1989, selling local Russian cars and importing Mercedes.

As his wealth grew so too did his sphere of influence and in 1993 he entered the Kremlin's inner circle, eventually earning the nickname Rasputin, after the mystic adviser to the Romanovs.

By the mid-1990s Mr Berezovsky owned a stake in the oil company Sibneft and had a majority share in Russia's main television channel, ORT.

In 1997 Forbes estimated his wealth was $3bn.

At Davos in 1996 he joined forces with other businessmen who had flourished in the ruins of the Soviet Union and they formed a pact, known as the "Davos Pact" in which they agreed to bank roll Boris Yeltsin for his second presidential run.

Together with members of Mr Yeltsin's family, like his daughter Tatyana Yumasheva, and like-minded politicians, like Anatoly Chubais, Yegor Gaidar and Moscow mayor Yuri Luzhkov, they effectively ran Russia during Mr Yetsin's second term as his health faltered.

When it was clear a successor was needed, it is said that it was Mr Berezovsky who hand-picked the ex-KGB head, Vladimir Putin.

He may have made him king but Mr Putin soon made it clear that he was not to be anyone's puppet and shortly after he became President the two men fell out.

Mr Berezovsky resigned from the Duma and set himself up in opposition then left the country on business. He never returned.

In November 2000, while travelling, he was summoned for economic crimes but he did not respond and set up home in London. He was granted asylum in the UK in 2003.

Mr Berezovsky vowed that he would bring Mr Putin down, but after a series of assassination attempts, he also lived in fear for his life.

According to Alexander Litvinenko, the former Russian FSB agent who was assassinated in London in 2006, a Russian agent was preparing a hit on Mr Berezovsky in September 2003.

Mr Litvinenko had also claimed in 1998 when he was an FSB agent that he himself had been ordered to kill Mr Berezovsky.

In 2007, Scotland Yard said it had foiled a plot to assassinate Mr Berezovsky in the UK. The alleged hitman, a Chechen national, was arrested in London and deported to Russia.

Mr Berezovsky also survived an assassination attempt in Russia in 1994 when a car bomb exploded, wounding him and decapitating his driver.

And as Mr Berezovsky's power faded in his self-imposed exile, so did his wealth.

According to the Sunday Times Rich List by 2011, his net worth was only about $900m (£591m).

Mr Berezovsky's stake in Sibneft eventually led to a court battle with Chelsea FC owner Roman Abramovich, which is estimated to have cost him £100m, and speculation about his financial well-being.

In 2012, he lost the High Court case in which he accused his fellow oligarch of breach of trust, breach of contract and claimed Mr Abramovich "intimidated" him into selling shares in Sibneft for a "mere $1.3bn" (£800m) - "a fraction of their true worth".

In July 2011 his ex-wife Galina Beshanrova, 53, won the biggest divorce settlement in history, said to be worth hundreds of millions of pounds.

Mr Berezovsky ran up further legal bills of more than £250,000 later in 2012 fighting a case against his former lover, Elena Gorbunova.

Ms Gorbunova, who had two children with Mr Berezovsky, complained that she had not been given millions promised by him.

On Wednesday, Mr Berezovsky sold Red Lenin, an Andy Warhol screen print, for £133,875 at Christie's auction house, prompting more speculation about his financial situation.

Demoralised by the Abramovich case, the Kremlin claims that Mr Berezovsky, the kingmaker, was a broken man in the days before he died.

He had written, Mr Putin's spokesman claimed, to beg forgiveness and to finally return to Russia.

He never did.

23.33 | 0 komentar | Read More

India Car Ads: Ford Sorry Over Women In Boot

Ford has apologised after car adverts in India showed women bound and gagged in the boot of vehicles.

The car manufacturer said it "deeply regretted" a series of adverts for the India-manufactured Ford Figo. 

One of the adverts shows a cartoon of Italy's ex-Prime Minister Silvio Berlusconi flashing a Victory sign with three women captive in the boot.

Another depicts Paris Hilton driving with the Kardashian sisters - bound and gagged.

The tag line on both reads: "Leave your worries behind with Figo's extra-large boot."

The adverts were created in India, a country still reeling from a series of shocking sex attacks on women, including the gang rape of a student on a Delhi bus.

A salesman with customers and the Figo in a Mumbai showroom

They appeared online on the Ads of The World website but have been pulled before featuring on any other paid sites.

Ford said: "We deeply regret this incident and agree with our agency partners that it should have never happened. 

"The posters are contrary to the standards of professionalism and decency within Ford and our agency partners. Together with our partners, we are reviewing approval and oversight processes to help ensure nothing like this ever happens again."

Advertising agency WPP said it regretted the ads, which should never have been created in the first place.

In a statement to The Huffington Post, WPP said: "We deeply regret the publishing of posters that were distasteful and contrary to the standards of professionalism and decency within WPP Group.

"These were never intended for paid publication and should never have been created, let alone uploaded to the internet.

"This was the result of individuals acting without proper oversight and appropriate actions have been taken within the agency where they work to deal with the situation."

Mr Berlusconi is currently on trial for allegedly paying a 17-year-old girl for sex when she attended some of his parties. Both deny any wrongdoing.

The Figo - manufactured in Chennai, India - launched in 2010.

23.33 | 0 komentar | Read More

Cyprus Bailout Deal Wins Eurozone Approval

Deposits above 100,000 euros (£85,000) in the Bank of Cyprus will be hit with a levy of "around 30%" under the EU bailout deal, a government official has confirmed.

Spokesman Christos Stylianides told state radio that the charge would be paid as the second largest Greek Cypriot lender is destined to be wound up.

Russian Prime Minister Dmitry Medvedev discussed issues with his deputies

The island's last-minute deal to secure a 10bn euro (£8.5bn) EU and International Monetary Fund (IMF) approved bailout by eurozone ministers, saved the country from a banking system bankruptcy and eurozone departure.

However Russia, which is the source of many large uninsured Cypriot accounts worth up to 20bn euros (£17bn), reacted angrily on Monday to the levy news.

Angry Greek Cypriots have taken to the streets

"The stealing of what has already been stolen continues," Russian Prime Minister Dmitry Medvedev was quoted by news agencies as telling a meeting of government officials.

A spokesman for President Vladimir Putin added that the president has asked the government to restructure a 2.5bn euro (£2.13bn) loan to southern Cyprus.

Russian news agencies quoted Mr Putin's spokesman, Dmitry Peskov, as saying that the president has instructed the government to work out the terms for restructuring the loan, which was made 2011.

The British arm of the so-called bad bank, Laiki Bank UK, said customers could continue to withdraw their cash but warned that large deposits may be at risk.

Laiki Bank UK operates as a branch of its parent and gave clearer guidance on its website on Monday telling customers they are protected up to 100,000 euros by the Cyprus Deposit Protection Scheme and not the UK's compensation scheme.

"This means that if our bank is unable to meet its financial obligations, your eligible deposits are protected up to a total of 100,000 euros per depositor," the notice said.

Christine Lagarde and the German finance minister at the Eurogroup

Key markets across Europe, excluding Italy because of a budget deficit issues, reacted positively in midday trading.

The second-largest bank, Popular Bank of Cyprus - known as Laiki - will effectively be shut down and split into a "good bank" and a "bad bank".

Sub-100,000-euro deposits in Laiki will be safeguarded and transferred to the Bank of Cyprus, the so-called "good bank", while those above the 100,000-euro limit, which under EU law are not insured, will be frozen and hit with the levy of around 30% to resolve the debt crisis.

The move will yield some 4.2bn euros (£3.6bn) overall - the bulk of the 5.8bn euros (£4.9bn) Cyprus needed to raise as part of the bailout conditions.

But it is unclear to say when the bailout and bank restructuring will return Cyprus to growth, European Commission president Jose Manuel Barroso admitted afterwards.

Banks have been closed this past week

"I am confident that the programme will work, but let's be honest. At this moment, we cannot say exactly what the impact is going to be," Mr Barroso said.

"It will depend on the level of implementation and the commitment of Cyprus itself."

The deal followed fraught negotiations between Cypriot President Nicos Anastasiades and the troika of creditors - the IMF, European Commission and European Central Bank.

"We've put an end to the uncertainty that has affected Cyprus and the euro area over the past week," Jeroen Dijsselbloem, who chairs the meetings of the 17-nation eurozone's finance ministers, said.

"We believe that this will form a lasting, durable and fully financed solution," IMF chief Christine Lagarde said.

Advertised property for Russians in the southern Cypriot port of Limassol

President of the European Council, Herman Van Rompuy, added: "I welcome the agreement reached by the Eurogroup and the Cypriot authorities early this morning.

"The agreement is essential to ensure a sustainable future for Cyprus in the euro area. This is first and foremost true for its people, who are living through times of great uncertainty."

After the eurozone's finance ministers' approval, several national parliaments, such as Germany's, must also approve the bailout deal, which might take another few weeks. EU officials said they expect the whole programme to be approved by mid-April.

Cyprus' outsized banking sector was crippled by exposure to crisis-hit Greece and has been used as a haven for foreign funds.

In a vote on Tuesday, the country's 56-seat parliament dismissed a levy on depositors as "bank robbery".

The country's finance minister Michael Sarris then spent three fruitless days in Moscow trying to win help from Russia. The two countries share historic religious ties.

Cypriots were outraged by the original proposal and have been queuing at cash machines ever since the government ordered banks to close last weekend.

23.33 | 0 komentar | Read More

Spain's Bankia Shares Fall Below 1p Value

Shares in nationalised Spanish lender Bankia slumped on Monday after a rescue fund valued the stock at less than one penny each, before a planned injection of fresh capital.

The valuation wiped out investors in the country's fourth-biggest bank and was widely expected as the government tries to draw a line under Spain's biggest-ever bank failure and give Bankia a fresh start.

But the pain for investors, many of them small Spanish investors who bought into the lender's July 2011 initial public offering at 3.75 euros (£3.18) a share, is unlikely to end there.

Bankia is expected to dip far below the new bailout price in coming months as investors focus on the bank's weak state, a struggling Spanish economy and a new government plan to partially merge Bankia with two other troubled lenders.

Under Bankia's recapitalisation, hybrid debt and preference shares are due to be converted into discounted ordinary shares.

Analysts believe thousands of the bond and preference share owners will sell their new ordinary stock at the earliest opportunity to try to recoup some their heavy losses, pulling the shares down further.

Bankia stock was at 0.155 euro (1.33p) by 2.45pm GMT on Monday, compared to their Friday close of 0.25 euro (2.1p).

Selling pressure was so great that trading in Bankia shares began more than an hour after the market open.

Analysts expect Bankia shares to progressively adjust to the 1 euro cent valuation before the cash injection due in May, but say it could later fall as low as 0.004 euro.

The bank, formed in 2011 from the merger of seven savings banks, is showing tentative signs of recovery as it prepares to receive an injection of 10.7 billion euros (£8.7bn) in European bailout funds in May.

Spain's government requested 41 billion euros from its European partners to rescue Bankia and other lenders that had amassed bad debt from the country's 2008 property market crash.

23.33 | 0 komentar | Read More