Costa Concordia Cruise Ship Disaster: Captain Says He 'Fell Into Lifeboat' And Could Not Escape

 

The captain of the stricken cruise ship Costa Concordia has told investigators he "fell into a lifeboat" during the evacuation and could not get out again. Francesco Schettino gave the excuse during three hours of questioning with an investigating magistrate before he was released from custody and given house arrest. The skipper, 52, was arrested on Saturday on suspicion of manslaughter and abandoning the cruise liner while passengers were still onboard. The death toll from Friday night's disaster now stands at 11, while 28 others including 24 passengers and four crew are still missing.

Read More

Passengers feared death after cabin crew accidentally issued emergency landing message

 

Duncan and Tracey Farquharson were flying to London from Miami when a recorded message came over the public address system announcing that the aircraft was going down. Passengers on board began panicking, believing that they would be killed before a flight attendant apologised, saying the message was a mistake. However, the pair yesterday accused the airline of trivialising passengers’ concerns, claiming that staff issued a “blasé” apology and did not explain the error until hours later when they were coming in to land at Heathrow. Mr Farquharson, 58, an engineer from Twickenham, London, said: “We were about three hours into the flight when an automated message came over the tannoy saying: ‘This is an emergency, we will shortly be making an emergency landing on water’. “We looked at each other and figured we were both about to die. Families with children were distraught and people were in tears. It was very distressing. “About 30 seconds later one of the cabin crew told us to ignore the announcement and accept their apologies but the tone of suggested they had not grasped how seriously we had taken it. “Imagining yourself plunging towards a cold, watery grave in the middle of the Atlantic is a pretty horrific thought but they seemed very blasé about it.” Mrs Farquharson, 51, an administrator, added: “The captain didn’t even say anything about it until when we were coming in to land and even that did not explain what had happened. “It still makes me very emotional thinking about it now – it was very traumatic. We’re going to complain to British Airways about the way we were treated.” A British Airways spokesman said cabin crew apologised for the incident aboard the flight on Friday night and that staff spoke to passengers individually to reassure them. The spokesman said: "A pre-recorded emergency announcement was activated in error on our flight from Miami to Heathrow on Saturday January 14. "The cabin crew cancelled the announcement immediately and sought to reassure customers that the flight was operating normally. "We would like to apologise to passengers on the flight for causing them undue concern. "We take such matters seriously as safety is our paramount concern." Share:     inShare 5 UK News News » How about that? » Murray Wardrop » IN UK NEWS   Bafta 2012 nominees   London Art Fair 2012   Telegraph readers' photos   We Are Not The Dead   Crazy customised coffins

Read More

Princes William and Harry fly to Spain for secret weekend hunting trip

 

They bagged themselves several brace of pheasant at Sandringham over Christmas. But at the weekend Prince William and Prince Harry set their sights on bigger game. The brothers flew to Spain on Friday for a secret hunting trip to celebrate the end of Harry's advanced helicopter training. The royal pair were staying on an estate in the backwaters of rural Cordoba owned by the Duke of Westminster, Gerald Grosvenor, Britain's third-richest man and one of William's godfathers. Finca La Garganta, near the village of Conquista, on the border of Castilla La Mancha, is one of the largest and most exclusive hunting estates in western Europe. It is teeming with wildlife including wild boar and stag which William and Harry, both crack shots, are said to be keen to bag. Beaters and packs of dogs were brought in to ensure that the princes did not return home without several 'kills' to their name. The brothers have visited the estate before and last time were said to have bagged a staggering 740 partridge on a single day. The second and third in line to the throne arrived in Spain on Friday on separate flights as they are not allowed to travel together in case of an accident. William , 29, who was not believed to be accompanied by his wife, the Duchess of Cambridge, flew into Seville while Harry, 27, arrived on a private jet at Cuidad Real Central later in the afternoon.

Read More

World Bank warns emerging nations to prepare for slump

In a report sharply cutting its world economic growth expectations, the World Bank said Europe was probably already in recession. If the euro area debt crisis deepened, global economic forecasts would be significantly lower. "The sovereign debt crisis in the eurozone appears to be contained," Justin Lin, the chief economist for the World Bank, told reporters in Beijing on Wednesday. "However, the risk of a global freezing-up of the markets and as well as a global crisis similar to what happened in September 2008 are real." The World Bank predicted world economic growth of 2.5pc in 2012 and 3.1pc in 2013, well below the 3.6pc growth for each year projected in June. "We think it is now important to think through not only slower growth but sharp deteriorations, as a prudent measure," said Hans Timmer, director of development prospects at the bank.

Read More

Elton John’s husband attacks Madonna after Golden Globes win, calling her ‘embarrassing’ and ‘desperate’

 

David Furnish was one angry man following last night’s Golden Globes in Hollywood, attacking Madonna for her ‘embarrassing’ speech (watch it below) after she beat his husband Elton John to Best Original Song. Advertisement >> Shortly after Madonna won the award for single Masterpiece – which she wrote for her own film W.E. – David logged onto Facebook and criticised the singer and the ceremony. He typed angrily: “Madonna. Best song???? F**k off!!! “Madonna winning Best Original Song truly shows how these awards have nothing to do with merit. Her acceptance speech was embarrassing in its narcissism.”

Read More

Shark attack at South Africa's deadliest beach

 

Mr Msungubana was swimming with a group of friends in shallow water off Second Beach in Port St Johns, a town on the country’s southeastern coast, when the attack took place. John Costello, local station commander for the National Sea Rescue Institute, said he sustained “multiple traumatic lacerations to his torso, arms and legs” where the shark bit him repeatedly. His death marks the sixth in just over five years at the beach, making it the most dangerous in the world for fatal shark attacks. In South Africa, one in five attacks by the ocean predators ends in the death but every single attack at Second Beach has proved fatal. Zambezi or bull sharks, known as the “pitbulls of the ocean” for their ferocity, have been blamed for most of the incidents. Experts from the nearby Natal Sharks Board have been brought in to investigate the phenomenon and the town authorities have closed the beach to swimmers. Pictures taken on Sunday show lifeguards wading nervously into the sea to pull the badly-injured Mr Msungubana to safety. They placed him on a surfboard to bring him to shore where, Mr Costello said, he was treated by a doctor who had been on the beach before paramedics arrived.

Read More

M&S workers pose nude for charity calendar sold under the counter

A calendar with pictures of scantily clad Marks & Spencer staff has raised £2,500 for charity despite having to be sold under the counter.

The M&S workers were asked to keep the calendar under the counter (Picture: SWNS)

The publication features naked and topless workers in Calendar Girls-type poses involving items for sale such as cakes, newspapers, underwear and marshmallows. 

It was not intended for sale to the public but word got around and copies were bought discreetly.

‘We weren’t really allowed to put it on display in the shop,’ said one member of staff at the store in Barnstaple, Devon.

‘It was a bit of a brown paper bag job, to be honest.’

The saucy calendar is raising money for North Devon District Hospital's Chemotherapy appeal. (Picture: SWNS)

Marks insists only a limited number of calendars were produced, all of which have now been sold.  

A M&S spokesman said: 'M&S supports the Barnstaple store's efforts to raise funds for the North Devon Health Care Chemotherapy Unit. 

'A limited number of calendars were produced by members of staff for sale to friends and family, and were never intended for commercial sale in-store

Read More

Three people were found alive on Sunday as rescuer workers continued to search a partly submerged Italian cruise ship

 

Three people were found alive on Sunday as rescuer workers continued to search a partly submerged Italian cruise ship resting just off this small island near the Tuscan coast. Multimedia Map Map of the Area Where the Italian Cruise Ran Aground Photographs Cruise Ship Runs Aground in Italy Cruise Ship Runs Aground Connect With Us on Twitter Follow @nytimesworld for international breaking news and headlines. Enlarge This Image Enzo Russo/European Pressphoto Agency The ship's captain, Francesco Schettino, was arrested on Saturday. More Photos » Early Sunday, an Italian fire brigade found a honeymooning couple from Korea alive inside a cabin of the Costa Concordia, which was resting on its side with a gash just below the waterline and a rock stuck in the hull. A brigade spokesman, Luca Cari, said the couple had been taken to a local hospital. Later, an Italian man, who was identified in media reports as a crew member, was taken from the ship by helicopter. The man was thought to have a broken leg. At least three people were killed when the Costa Concordia, carrying 4,200 passengers and crew on a weeklong Mediterranean cruise, slammed into an undetermined object near the island Friday night as passengers for the late seating had just started dinner, tucking into appetizers of grilled mushrooms and scallops. On Sunday, media reports described rescue workers in boats circling the big ship, tapping on the hull, and listening for a response. Divers also combed the ship’s underwater cabins for those still missing, up to 41 people. Shaken survivors spoke of a mad crush to flee a sinking cruise ship off the Tuscan coast, raising questions about the crew’s preparedness, Italian authorities arrested the ship’s captain amid concerns that the megaship had steered dangerously off course. Anxious survivors, many comparing the experience to the movie “Titanic,” recounted a chaotic and terrifying scene in which some crawled through hallways to escape down perilous ladders to lifeboats, while others leapt overboard into the wintry Tyrrhenian Sea. “In a moment, everything was up in the air,” said Alessandra Grasso, 24, a passenger from Sicily. “People, chairs, glasses, food.” Ulrike Schweda, 63, from Germany, was caught in a crowd of people pushing toward a lifeboat, and slipped on the deck. “The most terrible thing was seeing children trying to get down this ladder they had put on the side of the boat,” she said. Two French citizens and a Peruvian crew member were reported dead, according to a hospital official in Grosseto, Tuscany. Divers searched until nightfall Saturday for the missing, perilously probing the 2,000 cabins for survivors while the Leviathan ship lay on its side in the water, a boulder poking through a 160-foot gash in its hull. The Italian Coast Guard said 41 people were still unaccounted for. The coast guard is also monitoring the environmental impact of the accident, but as of Sunday morning, no oil had seeped into the ocean from the ship. “We are optimistic and hope that the ship is not going to slide further down,” Cmdr. Cosimo Nicastro, a spokesman for the coast guard, told reporters. “But the weather conditions are slowly worsening, and that is a cause of concern.” There were conflicting reports about whether the ship was off course in reef-filled waters just miles from the shore or whether an electrical failure had caused the crew to lose control. Passengers spoke of faulty evacuation procedures and unprepared staff who told them nothing was wrong — until the ship began tipping over. After questioning him for several hours, the Italian police detained the ship’s captain, Francesco Schettino, and the first officer, for questioning on charges of manslaughter, failure to offer assistance and abandonment of ship, the police said. Before his detention, Captain Schettino told Italian television that the ship had hit a reef that was not on its navigation charts. Gianni Onorato, the president of the Costa cruise company, a subsidiary of Carnival Cruise lines, said the ship had been sailing its “regularly scheduled itinerary” from Civitavecchia to Savona, Italy, when it struck “a submerged rock.” He said Captain Schettino “immediately understood the severity of the situation” and “performed a maneuver intended to protect both guests and crew.” The Italian coast guard said the captain had tried to turn the ship toward port in Giglio to make an evacuation easier, but it began to tip over as it reached the port.

Read More

SHIP AGROUND: COAST GUARD CONFIRMS 3 DEAD

 

At this time, 3 people are confirmed dead in an accident involving the cruising ship Costa Concordia. The ship left Civitavecchia for Savona yesterday at 7:30 PM and ran aground near the Isola del Giglio. According to Coast Guard sources, the situation is still confused. The ship has been boarded by Coast Guard rescue personnel, firefighters and a Costa officer and checked top to bottom to confirm that everybody has been evacuated. A portion of the passengers was taken on other vessels to Porto Santo Stefano while other went to Livorno by helicopter. The cause of the accident has not yet been ascertained. The grounded ship suffered a blackout just before running aground. . .

Read More

'Six feared dead' and thousands evacuated as cruise ship hits rocks off coast of Italy

 

Holidaymakers from France, Italy, Germany and Britain were forced to flee the 1,500-cabin Costa Concordia in lifeboats when it hit a reef less than two hours after leaving port. Some leapt overboard and swam to shore as the ship started to sink into the waters near the island of Giglio, off the Tuscan coast. Francesco Paolillo, the coastguard spokesman, said that at least three bodies were retrieved from the sea and at least three more were feared dead. Pregnant women and young children were among the 3,200 passengers and 1,000 crew on board. Passengers' dinner on Friday night was interrupted by a loud boom at around 8pm and a voice over the loud-speaker system initially claimed that the ship was suffering an electrical failure, before ordering everyone on-board to don life-jackets.

Read More

Bacon, deli meat may raise pancreatic cancer risk

Bacon or sausage? You might want to rethink that decision. Consuming processed meat regularly may increase a person’s risk of developing pancreatic cancer, though the risk is still low, says a new study. A meta-analysis of 11 studies involving 6,643 people with pancreatic cancer suggests an elevated risk of the disease when consuming processed meat such as bacon, cold cuts and sausages. In the study, men who ate red meat also showed an elevated risk of the disease, while women did not. The authors believe this is because men generally consume more red meat than women. For every 50 grams a person adds of processed meat to their diet, the risk of pancreatic cancer increased by 19 per cent, according to the study. "When results from all studies were combined, an increase of 50 grams per day of processed meat consumption was associated with a statistically significant 19 per cent increased risk of pancreatic cancer," the authors wrote. For the study, 120 grams was deemed a serving of red meat per day, while 50 grams represented a serving of processed meat. A typical hot dog is about 45 grams. "Processed meats are usually preserved with nitrite and may also contain N-nitroso compounds," write the authors. They say these compounds can also be formed in the stomach from nitrites and from compounds found in animal products and are potent carcinogens that have been shown to induce pancreatic cancer in animals. The study was conducted by Swedish researchers at the Karolinska Institute in Stockholm and published Thursday online in the British Journal of Cancer.

Read More

Eurozone back on the brink as France has credit rating downgraded

 

Stock markets and the single currency fell sharply as Standard and Poor’s cut France’s AAA rating. The rating agency’s move triggered a backlash from European politicians and led to calls for Britain to be downgraded too. As many as eight other eurozone countries, led by Italy, were also facing downgrades that will make it more expensive for them to borrow. The move represents a further loss of confidence in the single currency and the European Union’s ability to rescue indebted eurozone members. The Treasury believes that the collapse of the euro could seriously damage the British economy and banking system, pushing the UK back into a deep recession. The agency’s move also threatens to torpedo the main European bail-out fund set up to support struggling countries such as Greece and Portugal. There are growing fears that Greece is edging closer to defaulting on its debts and being forced out of the single currency, with potentially devastating consequences. Talks between Greece and its creditors were put on hold on Friday.

Read More

Greece teeters on edge of bankruptcy as debt talks stall

 

Fears are rising that the credit ratings of several eurozone countries could soon be downgraded - prompting global markets to fall and the euro falling to a 16-month low. Analysts today said that ratings agency Standards & Poor was finally going to deliver the downgrades it had threatened for much of the 17-nation eurozone just over a month ago. It comes because of concerns of Europe's inability to get a grip on a debt crisis that has raged for around two years. And it is on the same day that Greece was revealed to once again be teetering on the edge of a catastrophic bankruptcy - as negotiations on a bond swap to slash its public debt by 100 billion euros stalled.

Read More

Cornwall shooting death men 'worked for IRA drug gang'

 

Two men killed and buried on a remote farm in Cornwall were working for an IRA gang involved in Liverpool's drugs trade, a court has heard. Boxer Brett Flournoy, from Merseyside, and David Griffiths, of Berkshire, were found dead buried in a van at Ross Stone's farm near St Austell in 2011. Murder accused Thomas Haigh, 26, told Truro Crown Court the pair worked for Irish republicans who "ran Liverpool". Mr Haigh and Mr Stone deny murder. The trial continues. 'Self-interest took over' Mr Stone, 28, who admits burying the bodies on his Sunny Corner farm at Trenance Downs, told police he had arrived back at the farm on 16 June to find the bodies of the two men lying on the ground, the jury heard. A badly beaten Mr Haigh was nearby, he said in an interview, and although Mr Haigh did not admit killing them, he told Mr Stone "Dave [Griffiths] wouldn't die". Jurors also heard that both defendants blamed the other for killing the two men, to whom the alleged killers both owed money, in Stone's case £40,000. The dead men were buried with their van on the farm near St Austell Mr Haigh - who went to hide in Barnsley, South Yorkshire, after the killings - told police that Mr Griffiths had beaten him up over a girl he had taken back to the farm. He said he had run off and that the men had still been alive when he did. Prosecuting, Paul Dunkels QC told the jury on the second day of the trial that both men's claims were lies. He said: "When arrested by the police, the alliance between these two men broke down and self-interest took over. "The murders were the result of the joint efforts of these two defendants." The burned bodies of Mr Griffiths, a father-of-three originally from Plymouth, Devon, but living in Bracknell, Berkshire; and Mr Flournoy, a father-of-two from Bebington, in Wirral, Merseyside, were found dumped in the back of a van buried on the farm in July 2011. Mr Haigh, 26, formerly of Huddersfield, West Yorkshire, and Mr Stone, both deny two counts of murder.

Read More

Alex Salmond wants Scotland to join the European Union in its own right and that means joining the euro – and leaving the pound

 

Speaking of imminent downgrades (S&P are about to pull the plug on various eurozone countries apparently), what about Scotland? George Osborne put a fundamental question yesterday about the currency of an independent Scotland. Alex Salmond wants Scotland to join the European Union in its own right and that means joining the euro – and leaving the pound. Yet he has also talked in the past about remaining in a currency union of some sort with the rump UK. There is then, at the very least, a question mark over the First Minister's intentions, which is why the Chancellor tried to put him on the spot about his plans. Here's another question that I gather the Treasury is studying with great interest, which is part and parcel of the currency issue: what would the credit rating for an independent Scotland be? The reckoning down here is that Scotland would have to apply for a rating from the various agencies, which in turn would beg some interesting questions about its credibility as a sovereign. It will be new so it won't have a record to lean on. And as the FT details today, the independence negotiations would have to resolve a number of difficult money issues specifically Scotland's share of UK debt and whether it has to take over responsibility for HMG's £129bn contingent liabilities for RBS. Scotland would be relatively small and still wealthy, but its credit rating will be in part a factor of its political credibility: the agencies might conclude that the SNP's social democrat statist model is not a reliable long term bet, and mark the new sovereign down accordingly. Now that Mr Salmond has conceded a date for a referendum, we can expect more questions like this from the Treasury about the difficult detail that must be hammered out.

Read More

Student to face US trial over TVShack website

 

student who created a website which helped people watch films and TV shows for free can be extradited to the US to face copyright infringement allegations, a court ruled today. Sheffield Hallam University undergraduate Richard O'Dwyer, 23, allegedly earned thousands of pounds through advertising on the TVShack website before it was closed down by the US authorities. He faces jail if convicted of the allegations, which were brought following a crackdown by the US Immigration and Customs Enforcement agency. His lawyer Ben Cooper has argued that the site did not store copyright material itself and merely pointed users to other sites, in the same way that Google and Yahoo operate. Mr Cooper also claimed his client would be the first British citizen to be extradited for such an offence and would effectively become a "guinea pig" for copyright law in the US. His mother Julia O'Dwyer, from Chesterfield, has described the action as "beyond belief" and the UK's extradition treaty with the US as "rotten". But District Judge Quentin Purdy ruled today at Westminster Magistrates' Court that the extradition could go ahead. Mr Cooper indicated he would appeal against the ruling. O'Dwyer, who wore a grey shirt and blue jeans, showed no emotion as the ruling was made. His mother Julia criticised Britain's extradition treaty with the US. She said after the hearing: "If they want to prosecute something they will. "There's no safeguards here for British citizens." She also claimed the District Judge did not have the "technical brains to know about the whole thing". She added: "That guy just lives and breathes extradition."

Read More

US warns of 'credible' Thai terror threat as Hezbollah suspect is arrested

US ambassador Kristie Kenney's warning came as Thai authorities arrested a Lebanese Hezbollah suspect. Deputy Prime Minister Chalerm Yumbumrung said police had stepped up security after the arrest and he was confident the situation would be contained. Ms Kenney was elaborating on an "emergency message" sent by the embassy to American citizens earlier Friday warning of a possible terrorist attack. The message said that "foreign terrorists may be currently looking to conduct attacks against tourist areas in Bangkok in the near future." It urged Americans to "keep a low profile" in public and to exercise caution in areas where Western tourists gather. Ms Kenney told The Associated Press the threat was "real and very credible." She didn't give any other information.

Read More

Two air passengers met by police over heated bust up after teenager 'reclined his seat'

 

A furious row broke out between two passengers on a packed jumbo jet after one reclined his seat as the man behind was about to eat. The pair almost came to blows at 40,000ft as shocked travellers looked on. It started when an 18-year-old sitting in economy class moved his seat back to sleep. Air rage: The drama happened on board an Emirates 517-seat Airbus A380 - the world's biggest commercial airliner - from Dubai into Manchester Airport The 38-year-old passenger sitting immediately behind him was about to eat his in-flight meal at the time. And when he asked the youth to put his seat back up while he ate a major row broke out.   More... Airline passenger is stunned three times with a Taser gun after after he refuses screening check and runs into secure area Car-sized robotic explorer fires its thrusters for next stage of journey to Mars - and will land there in August The pair traded insults and leapt up from their seats in a head-to-head confrontation. As the argument became more heated cabin crew were called and attempted to defuse the incident. Stunned travellers watched as the two men continued to shout abuse at each other while standing in the aisle before they were finally persuaded to calm down. The drama happened on board a 517-seat Airbus A380 - the world’s biggest commercial airliner - operated by Emirates from Dubai into Manchester Airport. Close: The row broke out as one passenger reclined his seat while the man behind was about to eat The pilot of flight EK17 was so concerned he radioed ahead and police were informed. Officers went to the gate at Terminal 1 after the flight landed to meet the two passengers at around noon on Tuesday. A spokesman for Greater Manchester Police confirmed officers ‘spoke to’ two men, aged 38 and 18. No further action was taken as neither man wanted to make a formal complaint, and both also admitted they had been ‘in the wrong’, say police. A spokesman for the airline said: ‘Emirates does not tolerate this kind of behaviour from passengers and safety will not be compromised.’ They confirmed there had been an ‘altercation’ on board the flight and, although no blow had been exchanged, cabin crew had been called to calm the passengers. One traveller who uses the route said: ‘I have recently flown with Emirates to the Far East. This trip was split into two separate flights and lasted 20 hours. ‘Like a lot of people on the second leg of the trip I wanted to sleep. There is a system in place where you can indicate that you do not want the meal and to be left alone to sleep, which is what I did. My seat was reclined to the limit allowed. Welcome party: Police officers were waiting at the gate at Manchester Airport's Terminal 1, pictured, to meet the two passengers involved ‘When it came time for the meal I was woken up by the person behind asking me to sit up, so they could enjoy their meal. I was a little p***** off that I had been woken up. 'I hadn’t reclined it whilst he was eating, I was doing what I wanted to do, sleep, in a position that the seat was allowing me. I didn’t make a fuss and accepted it.’ He said: ‘This is only a problem in the "cheap" seats and perhaps the airlines can have an area in this class for passengers who want to sleep in the reclined position. 'No meals would be served to these passengers, so the problem will be removed. By sitting in this area you accept no meals and the seat in front may be reclined.’ The double-decker plane first started flying into Manchester Airport in September 2010 after around £10m had been spent on changes to the airfield to accommodate it. Its introduction was part of a huge boom in the number of people flying in and out of Dubai,

Read More

Gold treasure trove and millions in cash seized from Colombian drug dealers in Spain

 

A National Police operation has seized more than 4 million € in cash and a treasure trove of gold ingots from a group of drug traffickers based in the north west of Madrid which was finalising a deal to sell off half a ton of cocaine. Three suspects from Colombia have been arrested, who also face charges of money laundering. The Interior Ministry said in a press release on Tuesday that the drugs were brought into Spain by air and the laundered proceeds from their sale were then sent to Colombia in the same way. Police began their investigations last month and swooped on the luxury apartments which were used by the gang early on the morning of January 5, seizing more than 3.5 million € and three kilos of highly pure gold. The gold was made up of ingots each weighing a quarter of a kilo. A further half a million € was discovered when the suspects’ vehicles were searched.

Read More

Suspect arrested over woman found murdered in Fuengirola

 

An arrest has been made in the case of the woman who was found dead, wrapped in plastic and a blanket, beneath a bridge in Los Boliches, Fuengirola, on Monday morning. She was identified as E.U.G, a woman who was born in Almería in 1980. She is believed to have been killed last Saturday, two days before her body was found. The autopsy has now confirmed the cause of death as asphyxiation, and it’s understood there were also signs that she had been hit on the head. There was no sign of rape, or that any of her personal possessions had been stolen. All that’s known on the suspect is that he was known to the victim. La Opinión de Málaga said he was arrested in Fuengirola.

Read More

AIFOS boss now admits paying Juan Antonio Roca

 

Another twist in the Malaya case with the owner of the real estate promoter, AIFOS, Jesús Ruiz Casado, telling the court on Wednesday that, despite his declaration on Tuesday that he had never made any payments to the Marbella Municipal Real Estate Assessor, Juan Antonio Roca, that in fact he did make the payment ‘of some amounts’ through his commercial director, Francisco García Lebrón. Casado explained that he had found a 135,000 € mismatch in a report on the accounts of his company which had been presented to the Court, and that there was a 90,000 € coincidence with the notes in the computer archives of Juan Antonio Roca. He said he told his commercial director to make a payment to support the Town Hall sponsorships and fiestas. ‘I did not control this matter sufficiently’, he said and said he pleaded guilty to avoid prison, and admitted making payments of 4.8 million € for town planning favours between 2004 and 2006, for which he is accused.

Read More

Cargo ship runs aground off Sweden, crew suspected drunk

 

The captain and helmsman are both suspected of being under the influence of alcohol and we have launched an inquiry," coast guard spokeswoman Lotta Brandstroem told AFP. It was not immediately known why the Anke Angela, an 82-metre (270-foot) ship loaded with timber, ran aground around 0100 GMT in the Kalmarsund strait between the Swedish mainland and the island of Oeland. "The captain is a German national and the helmsman is Russian, and the other four crew members are from Ukraine and Cape Verde," Brandstroem said, adding that the vessel was en route from Moensteraas to Ireland with a cargo of wood. The ship was listing slightly on Wednesday and the coast guard was assessing the damage.

Read More

Wonga stops targeting students after Twitter protests

 

Short-term lender Wonga.com has announced that it is taking down information on student finances from its website following accusations it was encouraging undergraduates to take out one of its high-interest loans. Earlier Wonga.com came under severe criticism after its website claimed that its loans can offer students "a little more financial freedom and independence". The claim attracted outrage on Twitter. One user, Neale Gilhooley, tweeted: "A pox on loan company #Wonga offering students loans at a sharking 4,214pc APR." On the "student loans" section of its website, Wonga.com says these government-backed loans – despite their very low interest rates – could encourage people to borrow too much. Student loans currently attract interest at 1.5pc or 5.3pc, depending on when they were taken out. "It's pretty hard not to get carried away when you're a student on a budget and have the option to borrow large amounts of money with a student loan. But the problem with student loans is that they potentially encourage you to live beyond your means," the website says. "They're intended for living and education costs, but it's all too easy to fritter away the money once you have it. Wonga encourages responsible borrowing because, depending on your trust rating, you can borrow as little as £1 up to £1000, as long as you can repay it within a month."

Read More

5 UK men on trial for allegedly distributing leaflets calling for gay people to be killed

 

Five men are on trial in Britain for allegedly distributing leaflets calling for gay people to be killed, charged under a new law that makes such actions a hate crime. The men allegedly gave out flyers titled “The Death Penalty” that showed a noose and said gay people would be punished. Two other leaflets were used to publicize a protest against a gay pride march in the central English city of Derby in 2010. 0 Comments Weigh InCorrections? inShare The Crown Prosecution Service said Wednesday this was the first prosecution for stirring up hatred on the grounds of sexual orientation, under the law that took effect in March 2010. It has long been illegal to incite hatred over disability, race or religion. The maximum penalty for the crime is seven years in jail. Prosecutors said Ihjaz Ali, 42, Mehboob Hussain, 45, Umar Javed, 38, Razwan Javed, 27, and Kabir Ahmed, 28, handed out leaflets near a mosque in Derby and also stuffed them into mailboxes. Prosecutor Bobbie Cheema called the leaflets “frightening and nasty.” “These five defendants were part of a small group of men who distributed horrible, threatening literature, with quotations from religious sources and with pictures on them, which were designed to stir up hatred and hostility against homosexual people,” she said.

Read More

Twitter has complained about changes made by Google to integrate its social network Google+ into search results.

 

The new feature, called Search plus Your World, will automatically push results from Google+ up the search rankings.

Tweeting on the news, Twitter's lawyer Alex Macgillivray described it as a "bad day for the internet".

Google is determined to push its social network in the face of continued rivalry with Facebook.

The current changes were about even greater personalisation, it said. It already includes personal search history in its search algorithms.

The three changes are:

• Personal Results - which enable users to find information such as Google+ photos and posts, both their own and those shared specifically with them, that only they will be able to see on their results pages
• Profiles in Search - both in autocomplete and results, users will be able to find people they are close to or might be interested in following
• People and Pages - helps users find people profiles and Google+ pages related to a specific topic or area of interest, and enable people to follow them with just a few clicks.

"Search is pretty amazing at finding that one needle in a haystack of billions of webpages, images, videos, news and much more," said Amit Singhal in the firm's official blog.

"But clearly, that isn't enough. You should also be able to find your own stuff on the web, the people you know and things they've shared with you, as well as the people you don't know but might want to... all from one search box," he added.

Twitter's general counsel Alex Macgillivray tweeted in response to the changes: "Bad day for the internet. Having been there, I can imagine the dissension @Google to search being warped this way."

Mr Macgillivray had previously been employed at Google.

Twitter expanded his point in an official statement.

"For years, people have relied on Google to deliver the most relevant results any time they wanted to find something on the internet.

"Often, they want to know more about world events and breaking news. Twitter has emerged as a vital source of this real-time information, with more than 100 million users sending 250 million tweets every day on virtually every topic. As we've seen time and time again, news breaks first on Twitter; as a result, Twitter accounts and tweets are often the most relevant results.

"We're concerned that as a result of Google's changes, finding this information will be much harder for everyone. We think that's bad for people, publishers, news organisations and Twitter users."

Google hit back at the criticisms.

''We are a bit surprised by Twitter's comments about Search plus Your World, because they chose not to renew their agreement with us last summer and since then we have observed their rel=nofollow instructions," it said in a statement.

This refers to a technical barrier which makes it difficult for Google to rank Twitter information, a spokeswoman explained.

There is also little sharing between Google and its other big rival Facebook.

Search expert John Battelle said in his blog post that social search would mean little until the two settled their differences and offered consumers what they really wanted - Facebook data integrated with Google's search.

"The unwillingness of Facebook and Google to share a public commons when it comes to the intersection of search and social is corrosive to the connective tissue of our shared culture," he said.

Read More

Europe Banks Hoarding Cash Resist Draghi Bid to Avoid Crunch

 

Banks are hoarding the European Central Bank's record 489 billion-euro ($625 billion) injection into the banking system, thwarting attempts by policy makers to avert a credit crunch in the region. Almost all of the money loaned to 523 euro-area lenders last month wound up back on deposit at the Frankfurt-based central bank instead of pouring into the financial system, ECB data show. Banks will use most of the three-year loans to meet their refinancing needs for this year and next, analysts at Morgan Stanley and Royal Bank of Scotland Group Plc estimate. “It's illusory to think that the measure will translate into credit generation,” Philippe Waechter, chief economist at Natixis Asset Management in Paris, said in an interview. “It will assuage some of the anxiety banks have regarding their liquidity needs. But they've engaged into a massive overhaul of their strategy and shrinkage of their balance sheets, which is, coupled with the deteriorating economy, not compatible with increasing credit.” Governments are urging European banks to keep lending to companies and individuals while requiring them to raise an additional 114.7 billion euros of core capital by June to weather a deepening sovereign-debt crisis. Instead of raising equity, most lenders across Europe have vowed to meet capital rules by trimming at least 950 billion euros from their balance sheets over the next two years, either by selling assets or not renewing credit lines, according to data compiled by Bloomberg. ECB Deposits That has stirred concern among policy makers that banks will cut lending and throttle growth in the euro region. Banks have been parking almost all extra liquidity from the ECB loans back at the central bank. Barclays Capital estimates firms used 296 billion euros of the Dec. 21 three-year loans to replace maturing shorter-term ECB borrowings. That left only 193 billion euros of additional money for the financial system. Overnight deposits with the ECB have jumped by about 223 billion euros since the loans to a record 486 billion euros, suggesting the central bank funds haven't so far reached customers. Banks account for about 80 percent of lending to the euro area, making them “crucial to the supply of credit,” according to recently installed ECB President Mario Draghi. By contrast, U.S. companies rely more on capital markets for financing, selling bonds to investors. Refinancing Needs The ECB lending, and a follow-up loan offering on Feb. 28, won't ease the pressure on banks to shrink, say analysts including Huw van Steenis at Morgan Stanley in London. “The ECB loans will largely be used to pre-fund 2012 and some of 2013's bank refinancing needs, but it will not stimulate lending,” Van Steenis said. They will “just stop it falling off precipitously.” Euro-area banks have more than 600 billion euros of debt maturing this year, the Bank of England said in its financial stability report last month. The first ECB loan offering should help cover about two-thirds of that amount, Goldman Sachs Group Inc. analysts say. Morgan Stanley's Van Steenis estimates banks may reduce assets by as much as 2.5 trillion euros in two years, a process known as deleveraging. The volume of loans to households and companies in the 17- nation euro area shrank in November for the second consecutive month, the ECB said on Dec. 29. Loans were still up 1.7 percent over the year-earlier period, slowing from a 2.7 percent increase in the 12 months through October. Merkel, Sarkozy When granted, loans are getting costlier for borrowers. Since July, interest margins have increased, with investment- grade borrowers in Europe paying an average of 91.6 basis points more than benchmark rates, up from 84.4 basis points during the first half of 2011, according to data compiled by Bloomberg. A basis point is one-hundredth of a percentage point. “We must avoid a credit crunch for our economies,” European Union President Herman Van Rompuy said on Jan. 9. “The recent measures by the European Central Bank on a long-term lending facility for the banks are welcome in this context.” The European Banking Authority, which oversees the region's regulators, asked banks on Dec. 8 to retain earnings, curb bonuses and raise equity to boost core capital before resorting to cuts in lending. The EBA followed both French President Nicolas Sarkozy and German Chancellor Angela Merkel in urging banks to keep lending. Sarkozy said on Oct. 27 that he had asked firms to shift “almost all” of their dividends into strengthening balance sheets and to make bonus practices “normal.” Merkel said on Oct. 9 she was “determined to do whatever necessary to recapitalize the banks to ensure credit to the economy.” ‘No Credit Crunch' Bankers have said they haven't restricted lending and that demand for credit is slowing as growth slows. “All banks I talk to keep lending to small- and medium- size enterprises and households,” Christian Clausen, president of the European Banking Federation, an industry association, said on Dec. 9. “That part of the bank will keep rolling.” There is “no credit crunch,” Frederic Oudea, chief executive officer of Societe Generale SA, France's second- biggest lender, and chairman of the French Banking Federation, said last month. “The reality is that credit is available,” he said in an interview on BFM radio on Dec. 16. Even so, companies across Europe say credit is tightening. ‘Double Punch' In France, where credit to the private sector increased by 3.7 percent in November compared with a year earlier, the majority of the country's company treasurers said they encountered “very strong tensions” in negotiating bank loans, with more than 50 percent of respondents saying the process led to more expensive terms, according to a December survey by the French Association of Corporate Treasurers. The majority of those polled said obtaining bank financing was “as difficult as at the end of 2008,” after Lehman Brothers Holdings Inc. collapsed. U.K. banks expect to toughen their criteria on loans to companies and households in the first quarter because of strains in the wholesale funding market, the Bank of England said Jan. 5in its fourth-quarter Credit Conditions Survey. Belgian credit growth slowed to 3.1 percent in the 12 months to the end of October, from 3.6 percent at the end of September, the country's central bank said on Dec. 12. In Italy, some companies with annual sales of 30 million euros to 40 million euros are charged as much as 10 percent interest on loans, Emma Marcegaglia, chief of the country's Confindustria lobby group, said in an interview on Dec. 20. Lending to businesses and consumers grew at the weakest pace in a year, the Bank of Italy said today. Draghi's Priority With the ECB's injection, “deleveraging may happen in a more orderly way, but it doesn't mean it will be painless,” said Alberto Gallo, head of European credit strategy at RBS. Banks are faced with high long-term financing costs, a deteriorating economy and difficulties raising capital, he said. “It's what I call the double punch: A combination of negative growth and banks' deleveraging will affect lending activity.” Even the ECB's Draghi, who has made it one of his priorities is to keep credit flowing into the economy, said the central bank's loan offerings may fail to achieve that goal. “Monetary policy cannot do everything, but we're trying to do our best to avoid a credit crunch that might come from a lack of funding,” Draghi said Dec. 19 at the European Parliament in Brussels. “We have to be extremely careful here, because there may be other reasons that create a credit crunch.” Draghi may be wary of the U.S. experience with multiple rounds of bond purchases. That so-called quantitative easing hasn't stimulated lending, Natixis's Waechter said. ‘Kick the Can' “Lending really picked up when the economy got better,” he said. The ECB cut its forecast for euro-area economic growth in 2012 to 0.3 percent on Dec. 8 from a September prediction of 1.3 percent. The central bank expects the economy to expand 1.3 percent next year. In the U.S., almost all categories of bank lending fell in 2009 and 2010 and didn't start improving until last year, when the Federal Reserve stopped its second wave of quantitative easing, according to data by the U.S. institution. Banks increased their holdings of Treasury and agency securities in 2009 and 2010, showing they were using the Fed's cheap money to own safe government paper. Because quantitative easing tends to improve capital markets first, the healing will be even slower in Europe given its reliance on banks for borrowing, according to Gallo.

Read More

the secret of the Costa del Sol got out to the world, in a big, big way

 

.The mid-Andalusian coastline began to lure Northern European types, weary of their long, dark winters and eager to bask in the region's ever-present sunshine. First came the super-rich and famous (think Audrey Hepburn, Cary Grant, and Laurence Olivier), after Prince Alfonso of Hohenlohe-Langenburg opened the aristocratic Marbella Club in 1954. The demi-rich and B celebs followed, and gradually the masses—as is their wont—caught wind of the fun and sun, subsequently descending in droves. Through it all, the gays came too, establishing their beachhead at Torremolinos in the 1960s and 70s. Unfortunately, the switch from sleepy-fishing-village-dotted seashore to frolicksome touristic playground proved too rapid for the area to bear seamlessly. Unsavory types like on-the-lam Brits, the Russian mob, and Arab arms traffickers crept in, earning the region the unwelcome nickname Costa del Crime in the late 1990s and early 2000s. Unsavory Marbella politicians meanwhile took advantage of the instability, pushing through scores of corrupt construction projects before being stopped and ultimately jailed. Now, however, with a clean political slate and hot on the heels of a highly publicized summer 2010 visit to the area by Michelle Obama, the Costa del Sol is back with a vengeance. A new generation of hip tourists, a large faction of them gay, are now discovering the 300-plus days of sun, the warm Mediterranean beaches, the bargain-to-luxury shopping, the excellent spas, the delectable food, the rich history, the effervescent culture, and yes, those scrumptious southern Spanish men of the delightful Costa del Sol. By far, most international visits to the Costa del Sol start in Málaga, and more specifically at its Pablo Ruiz Picasso International Airport. Low-cost carriers like Ryanair and EasyJet have turned this into Spain's fourth busiest airfield, with scores of carriers now serving over 60 countries. The airport's newly opened third terminal is expected to accommodate the growing number of travelers in the coming years. Thanks to an extension of Spain's high-speed AVE train line in 2007, it's now also possible to get from Madrid to Málaga by rail in just about two and a half hours. While many Málaga arrivers scurry off to nearby beachside resort towns, any proper visit to the area requires a healthy dose of the beautiful city itself. With about 570,000 inhabitants, this is Europe's southernmost metropolis, not to mention one of the world's oldest towns, with an historical center dating back more than 3,000 years. In this now fully modern and vibrant city, remnants of previous civilizations are around every bend, with Phoenician, Roman, Moorish, and Reconquista Christian sites especially visible—and more still being found all the time. In 1951, during the construction of a new library, a fantastic first century B.C.E. Roman Theater was unearthed, and it's now one of Málaga's main attractions. More recently, during the construction of the Vincci Selección Posada del Patio Hotel on Pasillo Santa Isabel, remains of both the Roman and Arab walls of the city were found, and can be viewed by all from a specially designed underground walkway. THE INSIDERS GUIDE WHERE TO STAY WHERE TO PLAY WHERE TO EAT WHAT TO DO Pablo Picasso and Antonio Banderas are two of Málaga's most famous sons, and while you have a slight chance of seeing the latter on one of his frequent visits to town, you certainly won't miss homages to the former, known to his mother and many a modern tour guide as Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Ruiz y Picasso. The fabulous Museo Picasso, while just one of three major museums devoted exclusively to the artist's work (the others are in Barcelona and Paris), contains perhaps the most intimate and revealing collection, with more than 220 works donated directly by Picasso's daughter-in-law and grandson. Also worth a visit is the Museo Casa Natal (Birthplace House Museum), which features thousands of works by Picasso, his contemporaries, and those he influenced. Just up the hill from the Roman Theater is the Alcazaba, a Moorish fort started in the eighth century but mostly taking its present form in the mid-11th century. Farther up the hill (but further forward in time) is the Castillo de Gibralfaro, where the Moorish people of Málaga famously waged a three-month battle (albeit ultimately unsuccessfully) against the Catholic monarchs, Ferdinand and Isabella, in 1487. Inside the castle is a small but interesting archaeological museum, but most visitors come for what's outdoors: breathtaking views of the city below. For a royal hotel stay, the Parador de Málaga Gibralfaro, part of Spain's exceptional state-owned Paradores system, is actually attached to the castle itself. Continuing onward chronologically, Málaga's post-Reconquista city center Cathedral is known locally as La Manquita, or "one-armed lady," thanks to her clearly missing second tower, a victim of depleted coffers in the 18th century. She's still stunning, and her one beautiful outstretched arm manages to crop up in photos all around the old town. CLICK FOR SLIDESHOW OF COSTA DEL SOL When you're ready for a break and some Málaga tapas, the nearby La Moraga is unparalleled, the local outpost of Michelin-starred chef Dani García's growing gastronomic family. Once sustained, try out Málaga's plentiful shopping options, especially the city center pedestrian street Calle Marqués de Larios, which is lined with chic shops, boutiques, and cafés. Málaga also has a Corte de Inglés (part of the much-beloved, Spanish, one-stop, department store chain), as well as several malls and countless specialty stores spread across the city. One of Málaga's most famed festivals is its vivid Holy Week (or Semana Santa), during which massive ornate tronos (thrones, or floats), made of gold and silver and often weighing more than five tons, are carried through the streets, accompanied by music and song. Things turn especially dramatic on Good Friday, when shops and streetlights go dark to better showcase the solemn procession. Antonio Banderas sometimes still takes part in the festivities, as he did here in his youth. The festival dates back more than 500 years to the Catholic Reconquista, and its long history is commemorated at the Museo de la Semana Santa (Holy Week Museum). Somewhat less holy but even more famous is the Feria de Málaga, a nine-day, mid-August festival that's one of Spain's largest. Shops and offices close so everyone can enjoy the food and drink. Meanwhile, traffic is stopped so the streets can fill with music and dancing. Traditional costumes are everywhere, with many women in colorful flamenco dresses and many men dressed as sexy vaqueros (or cowboys). While it's not nearly as big as Holy Week or Feria, Málaga has its own Pride event as well called Hoy Málaga es Gay (Today Málaga is Gay), taking place annually in late June. LGBT life is thriving in Málaga, which boasts a growing number and variety of gay bars and clubs, many situated around Plaza de la Merced. For a fun dip into the local queer scene, start out with the lively Bohemian loungy-ness of El Carmen, then move on to the throbbing disco action of Reinas (Queen). The refreshingly small (just 50 rooms) and colorful Room Mate Lola Hotel is a great place to lay your head in Málaga, with cool design, a central location, a hip clientele, and a friendly staff. Even more centrally located (right next to the Cathedral) is the AC Málaga Palacio Hotel, which boasts a rooftop pool and restaurant/bar with 360-degree views of the city, making it a consummate setting for that impromptu Spanish same-sex wedding. For venturing beyond Málaga proper and onward to the splendid Costa del Sol, your best bet is to rent a car. This can be ridiculously cheap, as low as $60 a week depending on when you travel, your vehicle preference, and Euro conversion rates. Taxis are plentiful, but distances between towns are fairly large, so fares can be high. Buses are available as well, but they run sporadically. Trains, running about every 30 minutes, also connect Málaga to Torremolinos and Fuengirola, but the latter is only about halfway to Marbella, so you'll still need a cab or car to take you the full distance there. Less than ten miles south of Málaga lies Torremolinos, long the gay capital of the Costa del Sol region. Though it began like many towns in the area as a sleepy fishing village, people were here and queer as early as the late 1950s. By 1962, Toni's Bar, Spain's first-ever gay bar, had opened. Even during the oppressive Franco regime, homosexuals were mostly given wide berth to behave as they liked in Torremolinos—as long as they spent their tourist pesetas while doing so. By the early 1970s, gay life was booming here, centered (as it still is) around La Nogalera in the heart of town. Torremolinos lost much of its cachet in the mid-70s when down-the-coast Marbella came into full bloom, but with the decriminalization of homosexuality in Spain later in the decade, the town began to attract more and more gays from all over the country, and eventually from across Europe. After an upswing in the 1980s and much of the 90s, another downturn followed just before the millennium, as Eurogays bored of a destination that'd become too routine and gone stale. Somewhat surprisingly, Torremolinos has undergone yet another powerful resurgence in the last few years, proving it a gay Spanish phoenix that simply refuses to go quietly. As Spain's magnetism draws in more and more international LGBT travelers, Torremolinos, virtually unknown to Amerigays until recently, is now finally being discovered by those looking beyond the tried and true Madrid-to-Barcelona-and-Sitges route. Interestingly, Torremolinos also draws many heterosexual Nordic and British types, leading to odd amalgams like a Finnish bar atop a gay disco, as in the case of the popular and very fun Home. Other current LGBT hotspots (among some 20 in Torremolinos) include Parthenon and Passion discos, both always packed on weekends. Since Torremolinos isn't yet exactly teeming with upscale lodging options, many visitors choose to stay in Málaga and make the journey by taxi at club time—in fact, it's what many Malagueños themselves do every weekend. For those who'd rather be able to stumble home, Hostal Guadalupe is a solid Torremolinos choice. Beyond the packed nightclubs and visible renovations around town, another clear indication that Torremolinos' star is again on the rise was the 2010 debut of Expo Gays, an international gay business expo that drew some 180 exhibitors and 15,000 visitors to the city's 60,000-square-foot Palace of Congresses and Exhibitions over three days in mid-October. Of course, one of the main reasons people flock to Costa del Sol is to soak up the ever-present local sun. Torremolinos itself has several lovely stretches of sand, including the once gay but now mixed Poseidon Beach. Most locals will assure you, however, that the best gay beach in Costa del Sol is farther down the coast, between Calahonda and Marbella at Cabopin. While this naturist beach isn't exclusively gay, it boasts a large pink stretch (commencing about 200 yards to the west of the parking lot) that includes a very cruisy and action-packed dune area. Whether you lay or play, Cabopin makes for a nice rejuvenating stop on the journey south from Torremolinos or Málaga to Marbella.

Read More

Switch to olive oil for better health

 

Indian households should completely switch to olive oil as a cooking medium as its nutritional value is very high, it is rich in monounsaturated 'good' fats and, when used daily, can bring instant and easy wellness to a family's diet, celebrity chef and noted cookery expert Nita Mehta says. "Even though we have such a wide range of olive oils in our market, people don't seem to use them because of their mental block that the flavour of olive oil doesn't gel with Indian flavors," Mehta said at the launch here Satuday her latest book, "Indian Cooking With Olive Oil".

Read More

Trial begins in giant Spanish corruption scandal

 

top Spanish former official went on trial Monday at the start of legal proceedings into a raft of corruption scandals in which King Juan Carlos' son-in-law is also accused. Jaume Matas, the ex-head of the regional government of the Balearic islands who had also served as environment minister, appeared at a court in Palma de Majorca alongside three other suspects. They have been charged with embezzlement, fraud, falsifying documents and influence peddling. Matas was charged in March 2010 and was released after paying a record bail of 3.0 million euros ($3.8 million). Prosecutors are demanding an eight and a half years jail term. Matas served as president of the government of the Balearic Islands between 1996-1999 and then between 2003-2007. He was environment minister between 2000-2003. The so-called "Palma Arena affair" as the Spanish press has dubbed the corruption scandal centres on the suspected embezzlement of public funds during the construction of a velodrome in Palma de Majorca between 2005-2007. An investigation concluded that the cycling track had an unjustified cost overrun of 41 million euros. That led authorities on the archipelago to uncover other cases of suspected embezzlement of public funds, including one allegedly involving royal son-in-law Inaki Urdangarin. The 43-year-old ex-Olympic handball player is scheduled to appear in court on February 25 as part of a probe into corruption at a non-profit organisation, Instituto Noos, which he headed between 2004 and 2006. The probe centres notably on a payment of 2.3 million euros to Instituto Noos for organising a tourism and sports conference in 2005 and 2006. Urdangarin, who has the title Duke of Palma and is married to the king's youngest daughter, Princess Cristina, has denied any wrongdoing. Last month the royal family suspended the the duke from official engagements and the palace's highest official, Rafael Spottorno, gave an unprecedented rebuke, telling Spanish media his behaviour "does not seem exemplary".

Read More

Spanish property an 'attractive investment' for Brits

 

The growing strength of the British pound against the Euro is to make the Spanish property market an interesting prospect, according to an expert. Mark Stucklin, head of Spanish Property Insight, explained that 2012 will be a "key year", meaning Brits will benefit from attractive offers "after some real years in the dumps". "Within Spanish property, you have to define what you are talking about. Is it the middle of nowhere property that was badly built in the boom or the nicest property of which there is scarce supply?" he said. "It is a completely different market. With the best property, I think we are now in [a period of] price stability and, with the euro getting cheaper compared to the pound, that will mean that it gets more interesting for British buyers." Mr Stucklin went on to say that if potential buyers looked at the Spanish market in terms of euros, they would be able to find "50 per cent or more price reductions and you can find property on sale at the replacement cost". This, he explained was cheaper than building property. Brits looking to move to Spain should consider housing excess belongings and furniture in a self storage unit.

Read More

Alcoa to Curtail Operations in Italy, Spain

 

Hours before kicking off earnings season, Alcoa (AA: 9.44, +0.02, +0.16%) said on Monday it plans to scale down operations at three aluminum smelters in Italy and Spain to tighten expenses as metal prices continue to fall. The curtailment will reduce the company’s global smelting capacity by 12%, or 531,000 metric tons, with operations as its Portovesme, Italy, and La Coruna and Avilies, Spain, facilities impacted in the first half of 2012. Alcoa plans to permanently close the facility in Portovesme, which has capacity of 150,000 metric tons, but just partially and temporarily shut the operations in Spain. The company said those plants are among the highest-cost producers in the Alcoa system. The Pittsburgh-based company blamed the curtailments on an uncompetitive energy market combined with rising raw materials costs and falling aluminum prices, which are down 27% from their peak in 2011. The move is a part of Alcoa’s long-term goal of improving its aluminum production operating margins by cutting down on costs. Last week, Alcoa said it would permanently close its smelter in Alcoa, Tennessee, and two potlines at its Rockdale, Texas, smelter. The company is expected to cut a total of 240,000 metric tons, or about 5%, of its global smelting capacity. “In today’s rapidly changing global economy, it is imperative to respond quickly to maintain competitiveness,” said Chris Ayers, president of Alcoa Global Primary Products.  “This decision was made after thorough analysis of all the possible alternatives.” The company said the total impact on its workforce will not be determined until consultations with employee representatives and government have been completed. However, the three facilities employ a total of about 1,500. Alcoa also says it will aggressively accelerate plans to reduce the cost of raw materials used by its primary products business and adjust capacity in the global refining system to reflect internal demand and market conditions.

Read More

Santander Chairman Botin, Brother Lose Appeal in Spain Tax Case

 

Banco Santander SA Chairman Emilio Botin lost a bid at Spain’s National Court to block three groups’ ability to file complaints against him over accusations he broke national tax laws by hiding funds in Switzerland. Appeals by Botin, his brother Jaime Botin and other people contesting a November decision to allow the complaints by the three groups were rejected, the Madrid-based court said today in a ruling sent by e-mail. In Spain, any citizen can make a so- called popular accusation in legal proceedings even if they are not directly involved in the matter. The court said in June it would investigate Botin and 11 family members after tax officials received information on clients at HSBC Holdings Plc’s Swiss private bank from French authorities. The Botin family, in a statement distributed by Santander at the time, said it has put its tax affairs in order “voluntarily,” has met all its tax obligations and hopes the case will be cleared up in court. A spokesman for Spain’s largest bank, who asked not to be identified in line with company policy, declined to comment today in a phone interview. The complaints were made by three groups called Ciudadania Anticorrupcion, Asociacion Contra La Corrupcion Sistemica Y En Defensa Del Libre Ejercicio De La Acusacion Popular and Manos Limpias, the court said.

Read More