Solicitors at Hunt Kidd in Newcastle charged with theft

 Solicitors at Hunt Kidd in Newcastle charged with theft: "Two solicitors have been charged with stealing more than £1m from clients.<br /> <br /> Barbara Gayton, 52, from Newcastle, and 64-year-old Kenneth Hunt, from Alnwick in Northumberland, will appear before magistrates in Newcastle on 31 January.<br /> <br /> Ms Gayton and Mr Hunt are jointly charged with thefts from clients of the Hunt Kidd law firm in Newcastle where they both worked.<br /> <br /> A Northumbria Police spokesman said the charges followed an investigation by the force's economic crime unit."

Solicitors at Hunt Kidd in Newcastle charged with theft

 Solicitors at Hunt Kidd in Newcastle charged with theft: "Two solicitors have been charged with stealing more than £1m from clients. ...

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Ousted water chief Laurence MacKenzie is convicted embezzler | UK news | The Guardian

Ousted water chief Laurence MacKenzie is convicted embezzler | UK news | The Guardian: "ousted Northern Ireland Water chief executive, Laurence MacKenzie, is a convicted embezzler who stole cash from a Scottish church, it has been revealed.<br /> <br /> That led to questions today as to why proper checks were not carried out into his background by the ministry responsible before his appointment.<br /> <br /> South Down MP Margaret Ritchie said it was puzzling that no one checked MacKenzie's background when appointing him to the top post in the troubled state-owned water utility. 'I find it extremely odd that he reached the highest echelons of this organisation given that background. What checking mechanisms have they got in place? Clearly they didn't check deeper enough,' the SDLP leader said.<br /> <br /> MacKenzie swindled his church in the Scottish Highlands out of £2,000 almost 30 years ago."

Ousted water chief Laurence MacKenzie is convicted embezzler | UK news | The Guardian

Ousted water chief Laurence MacKenzie is convicted embezzler | UK news | The Guardian: "ousted Northern Ireland Water chief executive, ...

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UK damaged by ‘dodgy directors’ says trade body | Business

UK damaged by ‘dodgy directors’ says trade body | Business: "British businesses are being put at risk because the Government is failing to investigate “dodgy” directors, the insolvency trade body R3 warned today.<br /> <br /> The group informed the Insolvency Service of 7,030 cases of directors' behaviour it believed warranted further investigation in the 2009-10 financial year, but only 1,387 cases were examined.<br /> <br /> That means the rate of director disqualifications by the Insolvency Service halved from 40% in 2004 to 20% in 2010, despite fraudulent activity rocketing over the past year.<br /> <br /> R3's president, Steven Law, said: “This mechanism is in place to protect the general public and other businesses from dishonest directors.<br /> <br /> 'Not punishing directors who are blameworthy sends out a dangerous message to others."

UK damaged by ‘dodgy directors’ says trade body | Business

UK damaged by ‘dodgy directors’ says trade body | Business: "British businesses are being put at risk because the Government is failing...

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London fraud jumps to highest in 20 years | Business

London fraud jumps to highest in 20 years | Business: "level of fraud in London hit its highest level in more than two decades last year, with the average case now worth more than £7.5 million.<br /> <br /> The annual Fraud Barometer, published today by accountancy group KPMG, showed that 80% of the UK's fraud took place in the capital last year.<br /> <br /> The aftermath of the recession triggered a 33% jump in the number of cases, up to 143 in 2010 from 107 the previous year.<br /> <br /> <a href="http://www.amazon.com/BIG-Master-Guide-Interviews-ebook/dp/B001XURY9Q?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="BIG 4 Master Guide to the 1st and 2nd Interviews" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B001XURY9Q&tag=cosdelcri-21" /></a>Hitesh Patel, KPMG<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B001XURY9Q" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> forensic partner, said: “Fraudsters are becoming increasingly sophisticated, focusing on the big institutions where a successful hit can see them walking away with large amounts of cash.”<br /> <br /> Some of the biggest cases of the year included a gang of Ukrainian builders who netted £8 million in fraudulent tax rebates and spent the cash on prostitutes, top-marque cars and riverside apartments before being sentenced to six years in prison."

London fraud jumps to highest in 20 years | Business

London fraud jumps to highest in 20 years | Business: "level of fraud in London hit its highest level in more than two decades last yea...

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Credit Suisse squeeze on bonuses ups pressure on UK | Business

Credit Suisse squeeze on bonuses ups pressure on UK | Business: "Pressure grew on British banks to tone down their bonuses today as Credit Suisse announced some of the toughest new rules globally for payouts for 2010.<br /> <br /> Credit Suisse, Switzerland's second-largest bank, employs 6,000 people in London, the vast majority in investment banking and wealth management who are eligible for bonuses.<br /> <br /> British banks were again told by the Prime Minister David Cameron and Deputy Prime Minister Nick Clegg they should only pay “responsible” levels of bonuses, show “sensitivity” and be more transparent about their payouts.<br /> <br /> The new Credit Suisse regime, which lengthens the time over which bonuses are deferred and means they can be cut if parts of the firm underperform, reflects some of the criticisms levelled at banks during the financial crisis."

Credit Suisse squeeze on bonuses ups pressure on UK | Business

Credit Suisse squeeze on bonuses ups pressure on UK | Business: "Pressure grew on British banks to tone down their bonuses today as Cre...

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ECB gives Portugal temporary lifeline, traders say | Reuters

ECB gives Portugal temporary lifeline, traders say | Reuters: "The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon.<br /> <br /> A senior euro zone source said on Sunday that Germany, France and other euro zone countries were pushing Portugal to seek an EU-IMF assistance program, following Greece and Ireland, to prevent contagion spreading to much larger Spain, the fourth biggest economy in the euro area.<br /> <br /> The Reuters report drew official denials on Monday."

ECB gives Portugal temporary lifeline, traders say | Reuters

ECB gives Portugal temporary lifeline, traders say | Reuters: "The European Central Bank threw Portugal a temporary lifeline on Monday ...

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Citigroup fears fresh wave of sovereign defaults and bank failures in eurozone - Telegraph

Citigroup fears fresh wave of sovereign defaults and bank failures in eurozone - Telegraph: "Professor Willem Buiter, the bank’s chief economist and a former UK rate-setter, said the eurozone is paralysed by a 'game of chicken' between the European Central Bank and EMU governments in charge of fiscal policy.<br /> Both sides are trying to shift responsibility onto the other for shoring up Southern Europe and Ireland, raising the risk of widening contagion. 'The market is not going to wait until March for the EU authorities to get their act together. We could have several sovereign states and banks going under. They are being far too casual.' he said.<br /> 'This is a combined sovereign and banking crisis and that is a poisonous cocktail. The policy response has been woefully inadequate. There is a very small pot of money for a very big crisis,' said Dr Buiter.<br /> Dr Buiter described the EU’s rescue fund as an 'insolvency machine' because it charges punitive rates of 6pc, preventing high-debt countries from clawing their way out of their trap. 'I don’t know why they bothered to create it,' he said."

Citigroup fears fresh wave of sovereign defaults and bank failures in eurozone - Telegraph

Citigroup fears fresh wave of sovereign defaults and bank failures in eurozone - Telegraph: "Professor Willem Buiter, the bank’s chief ...

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FOREX-Euro hits 4-mth low on funding fears, outlook bleak | Reuters

<a href="http://www.reuters.com/article/idUSN1026777020110110">FOREX-Euro hits 4-mth low on funding fears, outlook bleak | Reuters</a>: "The euro hit a four-month low against the dollar on Monday with further pressure to the downside on worries about the ability of indebted euro zone countries to raise funds and speculation Portugal will be forced to seek financial help.<br /> <br /> Analysts said the euro's close below its 200-day moving average last week at $1.3074 was particularly bearish. The next key downside support lies at $1.2795, the 61.8 percent Fibonacci retracement of its rally from June to November."

FOREX-Euro hits 4-mth low on funding fears, outlook bleak | Reuters

FOREX-Euro hits 4-mth low on funding fears, outlook bleak | Reuters : "The euro hit a four-month low against the dollar on Monday with ...

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Cowen urged to explain bank talks

Cowen urged to explain bank talks: "Taoiseach Brian Cowen has come under increasing pressure to explain previously private meetings with disgraced former Anglo-Irish Bank chairman Sean FitzPatrick.<br /> Mr Cowen was facing calls to make a full statement on his relations with the banker and his knowledge of the banking crisis in the months before the Government signed off a taxpayer-backed guarantee scheme in September 2008.<br /> The Taoiseach's coalition colleague and Green Party leader John Gormley is to demand explanations about the previously undisclosed meetings with Mr FitzPatrick. Mr Cowen and the bankrupt ex-Anglo boss played golf and had dinner at exclusive Druid's Glen Golf Club two months before the Government hurried through a crippling protection plan to save Anglo and other homegrown Irish banks from collapse."

Cowen urged to explain bank talks

Cowen urged to explain bank talks: "Taoiseach Brian Cowen has come under increasing pressure to explain previously private meetings wit...

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Banker who fed barrister wife insider dealing tips faces jail | News

Banker who fed barrister wife insider dealing tips faces jail | News: "City banker who fed inside information to his barrister wife and a friend to make £2 million faces jail.<br /> <br /> Christian Littlewood, 39, who was director of strategic banking at London-based German investment bank Dresdner Kleinwort Wasserstein, is said to have been the mastermind behind the 'insider trading' scam.<br /> <br /> Littlewood told 34-year-old Helmy Sa'aid, who ran a juice bar but is said to have spent most of his time playing computer games, to buy lucrative shares in companies on the London Stock Exchange.<br /> <br /> Sa'aid today pleaded guilty to eight counts of insider dealing between March 2000 and August 2008. Littlewood and his wife Angela, also 39, pleaded guilty to the same charges at an earlier hearing."

Banker who fed barrister wife insider dealing tips faces jail | News

Banker who fed barrister wife insider dealing tips faces jail | News: "City banker who fed inside information to his barrister wife and...

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One million people to receive new tax demands - Telegraph

One million people to receive new tax demands - Telegraph: "They will be told they have underpaid or overpaid after HM Revenue & Customs made errors on their tax codes.<br /> The victims will join nearly six million people sent revised demands last year after a new computer system picked up on the errors dating back to 2008.<br /> A Government insider told The Sun newspaper: 'At least one million more will learn they too are on the wrong tax code. Some have overpaid and some have underpaid. It is another tax fiasco.'<br /> Last year, HMRC admitted it had got the tax of 5.7 million people wrong since 2008.<br /> Of those, 1.4 million taxpayers had paid too little and had to pay an average of almost £1,500 each, while an extra 4.3 million pocketed rebates averaging £419."

One million people to receive new tax demands - Telegraph

One million people to receive new tax demands - Telegraph: "They will be told they have underpaid or overpaid after HM Revenue & Cu...

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Employment in the financial services industry fell at its fastest rate in 17 years in the three months to December,

 "Employment in the financial services industry fell at its fastest rate in 17 years in the three months to December, according to the latest survey from the Confederation of British Industry.<br /> <br /> The finance firms surveyed by the employers’ organisation also expect growth to slow in the next three months. The balance between those expecting a rise in volumes to those expecting a fall dropped to plus 15 from an actual figure of plus 27 in the quarter just ended.<br /> <br /> Business volumes grew for all sub-sectors of financial services in the past quarter, but profitability was weaker than expected and grew at the slowest pace for 18 months."

Employment in the financial services industry fell at its fastest rate in 17 years in the three months to December,

 "Employment in the financial services industry fell at its fastest rate in 17 years in the three months to December, according to the ...

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Virgin Atlantic Risks Plane Seizures After Mounting Pressure On BAA - WSJ.com

<a href="http://www.amazon.com/Virgin-Atlantic-John-Balmforth/dp/1857803035?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Virgin Atlantic" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=1857803035&tag=cosdelcri-21" /></a>UPDATE: Virgin Atlantic Risks Plane Seizures After Mounting Pressure On BAA - WSJ.com: "Virgin Atlantic <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=1857803035" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />is risking having some aircraft seized after the airline Monday said it wouldn't pay any airport fees at Heathrow until the end of March because airport operator BAA Ltd. had handled recent heavy snowfall so badly.<br /> <br /> The long-haul airline, 51% owned by Richard Branson's Virgin Group and 49% by Singapore Airlines (C6L.SG), is the latest carrier to voice anger over the way BAA, owned by Spain's Ferrovial SA (FER.MC), handled the snowfall in December.<br /> <br /> Airlines at Heathrow experienced severe delays and cancellations for several days after BAA struggled to clear a single, heavy fall of snow the Saturday before Christmas. Businesses and passengers criticized BAA after thousands of flights were cancelled and hundreds of thousands of passengers were stranded. U.K. lawmakers are now preparing legislation that will penalize airport owners for poor service and allow the U.K. air regulator to step in and demand better services. Airport owners could face fines or even risk losing their licenses under the plans.<br /> <br /> British Airways PLC (BAY.LN) last week said it had suffered eight days of disruptions due to the snowfall, costing the airline GBP50 million. It had 34 long-haul aircraft out of position on the first day of disruptions."

Virgin Atlantic Risks Plane Seizures After Mounting Pressure On BAA - WSJ.com

UPDATE: Virgin Atlantic Risks Plane Seizures After Mounting Pressure On BAA - WSJ.com: "Virgin Atlantic is risking having some aircraft...

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Typical house price to lose a quarter of its value - Telegraph

Typical house price to lose a quarter of its value - Telegraph: "Halifax, Britain’s biggest mortgage lender, said average house prices dropped to £162,435 in November, down 1.3 per cent on the previous month and 1.6 per cent on the same period a year ago.<br /> But economists forecast that values will drop even further this year to just £150,000 amid concerns about the economy.<br /> It would mean a total drop of £50,000 in prices from the beginning of the credit crisis in August 2007, when they stood at £199,612.<br /> Martin Ellis, housing economist at Halifax, said: “Uncertainty about the economy, weak earnings growth and higher taxes could put some downward pressure on demand.”<br /> It comes amid growing speculation that the Bank of England will raise interest rates this year to combat higher inflation."

Typical house price to lose a quarter of its value - Telegraph

Typical house price to lose a quarter of its value - Telegraph: "Halifax, Britain’s biggest mortgage lender, said average house prices ...

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