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Horse Abattoir: Film Reveals Welfare Breaches

Written By Unknown on Sabtu, 19 Januari 2013 | 11.46

By Jason Farrell, Sky Correspondent

Sky News has uncovered shocking animal welfare conditions at a UK horse abattoir.

They include animals being beaten, neglected and illegal procedures in the process of slaughtering British horses destined for European food markets.

It comes amid public anger that some of our biggest supermarkets have been selling beef burgers and other products that contained horse meat.

Sky News visited the Red Lion Abattoir near Nantwich in Cheshire after concerns were raised by Animal Welfare Group Hillside Animal Sanctuary.

Investigators at Hillside fitted secret cameras which filmed horses being beaten with an iron rod to encourage them into the pens. 

Some were then crammed into the slaughter pens in pairs and, on one occasion, a group of three, before being stunned together.

Red Lion Abattoir The video revealed horses hit with sticks to goad them into slaughter pens

In harrowing images the horses fall on top of each other. Under The Welfare of Animals Act 1995, horses should not be slaughtered in sight of one another because of the distress it causes.

Furthermore we found that sick or injured horses were left untended overnight, rather than put down immediately.

As a result of the investigation, two slaughter men have had their licences revoked. Craig Kirby, head of approvals and veterinary advice at the Food Standards Agency (FSA) told Sky News: "As soon as we got the footage and reviewed it we took immediate action to revoke the slaughter men's licences.

"That means they cannot work to slaughter animals again. We will also look to gather further evidence to see if we can prosecute."

Former Government Chief Veterinary Officer, Keith Meldrum who viewed the footage said he was shocked by what he described as "appalling" welfare breaches.

"We see three animals stunned at the same time and it is totally illegal and contrary to welfare slaughter regulations," he said.

"It's a significant welfare problem for a number of reasons. It's harder to render them unconscious in a group and they have a higher chance of regaining consciousness before you've completed the procedure".

Another incident filmed included a horse that appeared to come round from the stun while being hung upside down before being bled. Mr Meldrum described it as "totally and completely unacceptable."

FSA statistics released to Sky News show a dramatic increase in the number of UK horses slaughtered every year, from 3,859 in 2007 to 8,426 in 2012.

Red Lion Abattoir Some 8,426 horses were slaughtered in the UK in 2012

Depending on the size and breed they are bought for anything between 100 to 300 pounds and can fetch around 700 euros on the European meat markets.

The animals come from a variety of backgrounds. Some are former pets, others come from show jumping or the race track. A report last year from the British Horseracing Authority found,

"The number of thoroughbreds reported dead to the Horse Passport Issuing Authority rose by 580 - an increase of 29% - from 1994 to 2574 horses.

"Of these, 1127 horses either in training, breeding or out of training were reported as killed in abattoirs - and reported to the Government Meat Hygiene Service - from 499 horses in 2010, an increase of 126%."

However, in a statement to Sky News the BHA added, "This is a wider equine issue and not an issue for the British racing industry, which is one of the country's most highly regulated equine pursuits.

"However, if there are allegations that any horse, whether thoroughbred or not, is being inhumanely treated in an abattoir we would fully support any investigation and subsequent action, if appropriate."

During the investigation, Hillside Animal Sanctuary rescued one racehorse called Underwriter by bidding against the abattoir at auction. They discovered it had a distinguished career.

John Watson from Hillside said: "It's not just ill and old horses being killed. There are very many fit and healthy horses, horses with foals, pregnant mares, and thoroughbreds that are being treated badly.

"It blows away the myth of humane slaughter, and there is a misery in that place that is palpable."

Red Lion Abattoir Red Lion Abattoir said they had revoked the license of two slaughtermen

Hillside's lead investigator, who didn't want to be identified, added: "What we've found has shocked us deeply; animals left with horrendous injuries and horses shot on top of each other.

"In all the years I've been doing this work, without doubt it's the most harrowing experience I've come across. All the horses in there had their heads hung down."

The Red Lion Abattoir in Cheshire told us they view animal welfare and public health with paramount importance.

In a statement they said: "In attendance at the The Red Lion Abattoir are three full time Food Standards Officers comprising of an official veterinarian and full-time meat hygiene inspectors throughout production."

They said the incidents were "not the norm, but of an isolated nature" and they have taken disciplinary action against the individual featured.

The statement continued: "I agree horses should individually enter the stunning area and most certainly not three at a time.

"However, small horses and ponies having spent years together as companions are difficult to separate. Horse lovers would understand that.

"My opinion and that of other veterinarians is it is better to keep those types together to reduce the stress, providing swift dispatch is achieved."

The Red Lion Abattoir also insisted it meat was not part of the recent supermarket burger scandal.

Their horses are destined to be served in European food markets. The scandal this time is the way they are treated, in the last moments of their lives, in a licenced British Abattoir. 

Roly Owers, Chief Executive of World Horse Welfare viewed the footage and said: "The breaches, from what we've seen, are throughout; from the care of the animals to the slaughter process.

"Horses are intelligent animals. When they see an animal stunned in front of them you can only imagine the distress that animal is going through. There are, without doubt, welfare issues here and it is plain illegal."

The RSPCA said "The footage is shocking and upsetting to watch."  They have requested a full copy of the film with a view to investigating.


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Boeing Dreamliner Deliveries Halted

Boeing 787 Dreamliner Timeline

Updated: 1:50am UK, Saturday 19 January 2013

The turbulent history of the Boeing 787 Dreamliner:

Jan 19, 2013: Boeing says it is stopping deliveries of the Dreamliner to airlines.

Jan 18, 2013: US Federal Aviation Administration (FAA) officials arrive in Japan to examine a 787 and its melted battery pack after an All Nippon Air (ANA) emergency landing two days earlier

Jan 17, 2013: The European Aviation Safety Agency,  FAA and Qatar Airways ground Dreamliners under their regulatory control

Jan 16, 2013: Japan Air Lines Co Ltd (JAL) follows suit and suspends Dreamliner flights from Japan over safety concerns

Jan 16, 2013: ANA grounds all 17 of its 787s after four of its aircraft suffer problems

Jan 16, 2013: ANA 787 Dreamliner makes emergency landing in Takamatsu, Japan, after smoke appears in cabin

Jan 11, 2013: The Federal Aviation Authority announces a review of the 787 design and systems

Jan 11, 2013: ANA discovers engine oil leak after a domestic flight lands at Miyazaki

Jan 11, 2013: A separate ANA flight to Matsuyama reported a crack appearing in the pilot's window

Jan 9, 2013: ANA cancels a Boeing 787 Dreamliner flight due to a brake problem

Jan 8, 2013: Japan Air Lines (JAL) grounds a jet at Boston Logan International Airport after a 787 leaks 150 litres of fuel

Jan 7, 2013: A fire erupts in a battery pack in another JAL Dreamliner at Boston

Dec 13, 2012: Qatar Airways grounds one of its Dreamliners because of a faulty generator

Dec 5, 2012: The FAA orders inspections of all 787 Dreamliners in service in the US

Dec 4, 2012: A United Airlines 787 is forced to make an emergency landing in New Orleans after a generator fails

July 23, 2012: ANA grounds five Dreamliners due to an engine component issue

Feb 22, 2012: Boeing says around 55 Dreamliners may be affected by a flaw in the fuselage

Oct 26, 2011: The Dreamliner makes its maiden flight with paying passengers on board an ANA jet

Sep 26, 2011: Boeing delivers its first 787 Dreamliner to Japan's ANA, three years late

Jun 23, 2010: Boeing postpones the first flight of the Dreamliner because of a structural flaw

Dec 15, 2009: The passenger jet 787 Dreamliner takes off on its maiden test flight

Apr 9, 2008: Boeing says there will be a revised plan for the first 787 flight and initial deliveries

Dec 11, 2008: Boeing announces further delays due to strike action by machinists Sept-Nov

Oct 19, 2007: Boeing says there will be a six-month delay to deliveries due to assembly issues

Jul 8, 2007: The first assembled 787 goes on display to media, employees and customers

Jul 18, 2006: Boeing says it is making "solid progress" on the 787 Dreamliner programme

Jan 28, 2005: Boeing gives its new commercial airplane an official model designation number - 787

Jan 29, 2003: Boeing announces the launch of a new aircraft called the 7E7


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Boeing Dreamliners Grounded Across The World

Written By Unknown on Jumat, 18 Januari 2013 | 11.46

Boeing 787 Dreamliner Timeline

Updated: 12:15pm UK, Thursday 17 January 2013

The turbulent history of the Boeing 787 Dreamliner:

Jan 17, 2013: The European Aviation Safety Agency, US Federal Aviation Administration and Qatar Airways ground their Dreamliners.

Jan 16, 2013: Japan Air Lines Co Ltd (JAL) follows suit and suspends Dreamliner flights from Japan over safety concerns

Jan 16, 2013: ANA grounds all 17 of its 787s after four of its aircraft suffer problems

Jan 16, 2013: ANA 787 Dreamliner makes emergency landing in Takamatsu, Japan, after smoke appears in cabin

Jan 11, 2013: The Federal Aviation Authority announces a review of the 787 design and systems

Jan 11, 2013: All Nippon Airways (ANA) discovers engine oil leak after a domestic flight lands at Miyazaki

Jan 11, 2013: A separate ANA flight to Matsuyama reported a crack appearing in the pilot's window

Jan 9, 2013: ANA cancels a Boeing 787 Dreamliner flight due to a brake problem

Jan 8, 2013: Japan Air Lines (JAL) grounds a jet at Boston Logan International Airport after a 787 leaks 150 litres of fuel

Jan 7, 2013: A fire erupts in a battery pack in another JAL Dreamliner at Boston

Dec 13, 2012: Qatar Airways grounds one of its Dreamliners because of a faulty generator

Dec 5, 2012: The Federal Aviation Administration orders inspections of all 787 Dreamliners in service in the US

Dec 4, 2012: A United Airlines 787 is forced to make an emergency landing in New Orleans after a generator fails

July 23, 2012: ANA grounds five Dreamliners due to an engine component issue

February 22, 2012: Boeing says around 55 Dreamliners may be affected by a flaw in the fuselage

October 26, 2011: The Dreamliner makes its maiden flight with paying passengers on board an ANA jet

September 26, 2011: Boeing delivers its first 787 Dreamliner to Japan's ANA, three years late

June 23, 2010: Boeing postpones the first flight of the Dreamliner because of a structural flaw

December 15, 2009: The passenger jet 787 Dreamliner takes off on its maiden test flight

April 9, 2008: Boeing says there will be a revised plan for the first 787 flight and initial deliveries

December 11, 2008: Boeing announces further delays due to strike action by machinists Sept-Nov

October 19, 2007: Boeing says there will be a six-month delay to deliveries due to assembly issues

July 8, 2007: The first assembled 787 goes on display to media, employees and customers

July 18, 2006: Boeing says it is making "solid progress" on the 787 Dreamliner programme

January 28, 2005: Boeing gives its new commercial airplane an official model designation number - 787

January 29, 2003: Boeing announces the launch of a new aircraft called the 7E7


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Horsemeat Burger Factory In Ireland Shut Down

All production has been halted at an Irish factory discovered to have produced beef burgers containing horsemeat

Silvercrest Foods in the county of Monaghan, announced it would suspend operations indefinitely pending further investigations into how its products were contaminated.

Ten million burgers have been removed supermarket freezers across Ireland and the UK and are now expected to be destroyed after Irish authorities found they contained traces of horse DNA.

Silvercrest has said that it believes that it believes that the source of the contaminated material is one supplier on the continent.

"However, because equine DNA has been found in finished products tested this week, we have decided that the responsible course of action is to suspend all production at the Silvercrest plant in County Monaghan with immediate effect," it said.

Ireland's Agriculture Minister Simon Coveney confirmed that seven samples of raw ingredients in the burgers were tested for horse DNA, including one from another European country which tested positive.

All ingredients in the production of burgers sourced from Irish suppliers tested negative.

Tesco apology Tesco apologised in newspaper adverts in the UK and Ireland

Mr Coveney described the contaminated ingredient as a powdered beef-protein additive used to bulk up cheaply produced burgers with relatively little meat.

Mike Gibney, director of the Institute of Food and Health at University College Dublin, said the drive to cut prices could have contributed to the problem as beef is three to four times more expensive than horsemeat, which is primarily used in pet food.

"As you push down the price of the producer, they push down the price of their supplier, there you get into the danger," he said.

"You might find a supplier cutting costs and putting ingredients in there that shouldn't be in there."

Silvercrest's parent company, ABP Food Group, has said it will introduce DNA testing in its production lines and  has sent investigators to the production plants of all of its ingredient suppliers.

Irish authorities have repeatedly stressed there are no safety concerns over the use of horsemeat in the burgers.

Tesco, a batch of whose Everyday Value burgers were found to contain 29% horsemeat, and other retailers including Aldi and Lidl, have apologised to customers.

Sainsbury's, Asda and the Co-op have also withdrawn some frozen products in a "purely precautionary" move, stressing they had not been found to be selling contaminated food.


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Horse Meat Burgers: FSA Threatens Legal Action

Written By Unknown on Kamis, 17 Januari 2013 | 11.46

The UK food watchdog is considering whether legal action should be taken against companies at the centre of the scandal over horse meat found in beef burgers.

The Food Standards Agency (FSA) said it would consult relevant local authorities and the Food Safety Authority of Ireland (FSAI) before making a decision to take action.

After a meeting with food industry representatives, the FSA said it would continue a review of the traceability of the food products identified in an FSAI survey which uncovered the scandal.

It also said it would try to further understand how the lower levels of horse and pig meat contamination took place and help to carry out a UK-wide study of food authenticity in meat products.

But Tim Lang, professor of food policy at City University in London, blamed the findings on light industry regulations.

He tweeted: "Horsemeat in beefburgers suggests failings in corporate food governance.

"Law clear - 'food shall be of nature, substance and quality demanded'."

It comes as the food company at the centre of the scandal - ABP Food Group - vowed to adopt strict DNA testing of its products to prevent a repeat.

Horse meat found in beef products Products from Lidl, Aldi, Tesco and Iceland were found to contain horse DNA

The company, one of Europe's biggest suppliers and processors, is being investigated by health and agriculture authorities in the UK and Ireland.

Two of its subsidiaries - Silvercrest Foods in Ireland and Dalepak Hambleton in Yorkshire - supplied beef burgers with traces of equine DNA to supermarkets, including one product classed as 29% horse.

An ABP spokeswoman said: "It is vital that the integrity of the supply chain is assured and we are committed to restoring consumer confidence.

"We take this matter extremely seriously and apologise for the understandable concern this issue has caused."

A third company, Liffey meats, based in Co Cavan, Ireland, was also found to be supplying products to supermarkets with traces of horse DNA.

Suppliers in the Netherlands and Spain have been identified as the possible sources for incorrectly labelled ingredients.

Horse meat found in beef products One product was classed as 29% horse meat

The results of the FSAI survey, verified in laboratories in Germany, showed low levels of horse in beef products sold in Tesco, Lidl, Aldi, Iceland and Dunnes Stores in Ireland.

Some burgers were also being sold in the UK but retailers insisted all suspect brands had been taken off the shelves within hours of the findings being released on Tuesday evening.

The scandal saw nearly 1% - or roughly £300m - wiped off the value of supermarket Tesco on Wednesday.

Prime Minister David Cameron said supermarkets had to take responsibility for what he said was an extremely disturbing case.

He said: "This is a completely unacceptable state of affairs. It is worth making the point that ultimately retailers have to be responsible for what they sell and where it has come from."

The FSAI analysed 27 beefburger products with best before dates from last June to March 2014 with 10 of the 27 products - 37% - testing positive for horse DNA and 85% testing positive for pig DNA.

The tests found horse DNA in the following products: Tesco Everyday Value Beef Burgers 29.1%, Tesco Beef Quarter Pounders 0.1%, Oakhurst Beef Burgers in Aldi 0.3%, Moordale Quarter Pounders in Lidl 0.1%, Flamehouse Chargrilled Quarter Pounders in Dunnes Stores 0.1%, and two varieties of Iceland Quarter Pounders 0.1%.

Ten million burgers have been taken off shelves as a result of the scandal.

Liffey Meats said it believed horse DNA was originally contained in raw ingredient marked "bovine only" and supplied by an EU approved factory.

It said the traces of horse in three of its products were minute.

In a statement, the company said: "Liffey Meats has never produced, purchased or traded any equine products.

"Ingredients were supplied from an EU approved plant and were certified from bovine sources only. We now believe that such imported raw ingredients were the ultimate source of the DNA traces found in some of our products."

:: The FSAI operates an advice line on 1890 33 66 77 from 9am-5pm.


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Boeing Dreamliners Grounded By US and Japan

Boeing 787 Dreamliner Timeline

Updated: 4:05am UK, Wednesday 16 January 2013

The turbulent history of the Boeing 787 Dreamliner:

Jan 16, 2013: Japan Air Lines Co Ltd (JAL) follows suit and suspends Dreamliner flights from Japan over safety concerns

Jan 16, 2013: ANA grounds all 17 of its 787s after four of its aircraft suffer problems

Jan 16, 2013: ANA 787 Dreamliner makes emergency landing in Takamatsu, Japan, after smoke appears in cabin

Jan 11, 2013: The Federal Aviation Authority announces a review of the 787 design and systems

Jan 11, 2013: All Nippon Airways (ANA) discovers engine oil leak after a domestic flight lands at Miyazaki

Jan 11, 2013: A separate ANA flight to Matsuyama reported a crack appearing in the pilot's window

Jan 9, 2013: ANA cancels a Boeing 787 Dreamliner flight due to a brake problem

Jan 8, 2013: Japan Air Lines (JAL) grounds a jet at Boston Logan International Airport after a 787 leaks 150 litres of fuel

Jan 7, 2013: A fire erupts in a battery pack in another JAL Dreamliner at Boston

Dec 13, 2012: Qatar Airways grounds one of its Dreamliners because of a faulty generator

Dec 5, 2012: The Federal Aviation Administration orders inspections of all 787 Dreamliners in service in the US

Dec 4, 2012: A United Airlines 787 is forced to make an emergency landing in New Orleans after a generator fails

July 23, 2012: ANA grounds five Dreamliners due to an engine component issue

February 22, 2012: Boeing says around 55 Dreamliners may be affected by a flaw in the fuselage

October 26, 2011: The Dreamliner makes its maiden flight with paying passengers on board an ANA jet

September 26, 2011: Boeing delivers its first 787 Dreamliner to Japan's ANA, three years late

June 23, 2010: Boeing postpones the first flight of the Dreamliner because of a structural flaw

December 15, 2009: The passenger jet 787 Dreamliner takes off on its maiden test flight

April 9, 2008: Boeing says there will be a revised plan for the first 787 flight and initial deliveries

December 11, 2008: Boeing announces further delays due to strike action by machinists Sept-Nov

October 19, 2007: Boeing says there will be a six-month delay to deliveries due to assembly issues

July 8, 2007: The first assembled 787 goes on display to media, employees and customers

July 18, 2006: Boeing says it is making "solid progress" on the 787 Dreamliner programme

January 28, 2005: Boeing gives its new commercial airplane an official model designation number - 787

January 29, 2003: Boeing announces the launch of a new aircraft called the 7E7


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HMV Collapse: Gift Cards And Vouchers Invalid

Written By Unknown on Rabu, 16 Januari 2013 | 11.46

HMV has confirmed it will not be accepting gift cards or vouchers from customers as the retailer prepared to collapse into administration.

The company confirmed its intentions after a board meeting, as exclusively revealed by Sky's City Editor Mark Kleinman.

The chief executive of HMV - which employs 4,350 people - said it was "business as usual" at the chain's 238 stores, which will remain open while administrators Deloitte attempt to find a buyer.

Trevor Moore told Sky News he was "absolutely confident" about the future of the business, but added: "It does require a number of significant changes in the business, and those changes we're very clear about."

He said: "We would hope to find a prospective buyer that could work with us to enable me to deliver those changes and ensure that HMV – which is one of the consumer's 10 most favourite stores in the UK remains on the high streets that we operate in."

HMV store HMV was late to the online shopping revolution and suffered as a result

A company statement said it had ultimately failed to meet the conditions of its bank loans, and trading in HMV's ordinary shares had ceased.

It said the business "faced material uncertainties" and would probably "not comply with its banking covenants" at the end of January.

Confirming the appointment of administrators "with immediate effect", the statement added: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection."

Mr Moore urged staff at the chain to support each other despite being faced with an uncertain future.

"My message is that it's critically important – even more now than ever before – that we remain focussed on the job at hand," he said.

"That we engage with our customers, we look after each other, support each other, and engage ... to ensure the business continues to trade successfully."

He added: "As far as I'm concerned, right now it's business as usual - HMV's doors are wide open, we have stock to sell, we have teams to staff our stores and we have a business to run."

Celebrities have been among those sharing their memories of the iconic chain.

BBC 6Music DJ Lauren Laverne tweeted: "Long time since i was in #HMV, but I remember it well… RIP."

Also on Twitter, rapper Professor Green posted: "hmv bankrupt. we may as well just give up on any medium that involves hard copy and get on with it. #sadtimes."

And fellow artist Sway added: "Just a thought. If all of the artists and labels in the UK all made a small donation do you think it would be enough to save #HMV?"

Retail expert Mary Portas posted: "HMV was a brilliant business that was a great part of our Highstreets. So sad to see this one go."

The retailer, which has struggled for several years in the face of online competition, had announced last week an additional sale at its stores in a last ditch effort to raise cash but its £176.1m debt pile was too great for the move to have much impact.

Last year, the company sold off its most profitable arm, its live music business, as it attempted to slash what it owed.

In January 2011, suppliers including Universal Music came to HMV's rescue with a deal that helped the retailer shed some of its debt, but they are understood to have dismissed requests for more financial help earlier this month.

Analysts suggest the business model was already doomed - squeezed by internet retailers and supermarkets whose scale enables them to offer CDs and DVDs at cheaper prices.


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Car Insurance Premiums Soar For Young Women

Car insurance prices for young women in the UK rose by an average 16.4% in the final quarter of 2012 after EU rules banned setting prices based on gender.

On average, women aged between 17 and 20 who insured themselves as the only driver paid £2,081 for their premiums.

But married females of the same age only saw a quarterly rise of 4.8%, with an average premium of £2,089 for two insured drivers on a car.

At the same time, quoted prices for men aged between 17 and 20 saw an average fall of 10.7% over the same period.

Gareth Kloet, head of car insurance at Confused.com, said: "With the EU gender directive taking effect from December 21, 2012, it's clear to see that the insurance industry has both reacted and prepared for the well documented and anticipated change in legislation during the last quarter.

"As expected, our index shows that women have seen the greatest changes in their insurance premium as insurers prepared for the change in legislation with what is effectively a gender tax on their car insurance premiums.

"We encourage everyone to shop around in order to get the best deals and if you are married, consider car sharing with your partner to benefit from cheaper car insurance premiums."

The figures, from the latest Confused.com/Towers Watson Car Insurance Price Index, also found the average comprehensive car insurance price now stands at £737 - down from £844 in the same quarter in 2011.

The EU Gender Directive came into force on December 21 last year, banning companies from setting prices according to gender.

The ruling, by the European Court of Justice, followed a 10-year legal battle against the proposals by insurers.


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BBA Targets Body To Strike Off Rogue Bankers

Written By Unknown on Selasa, 15 Januari 2013 | 11.46

By Mark Kleinman, City Editor

A tough new code of conduct for bank employees and an independent body that would have powers to ban rogue bankers are among a series of tough measures proposed to restore public trust in the beleaguered industry.

I have obtained a copy of a submission made by the British Bankers' Association (BBA) to the Parliamentary Commission on Banking Standards, which was set up in the wake of the Libor rate-rigging scandal last summer.

The creation of a Banking Standards Review Council, which would be underpinned by statutory or regulatory support, is one of a series of options presented by the lobbying group.

In its submission, the BBA suggests as a starting point that reforms should look at strengthening the existing infrastructure, which would involve extensive co-operation with the Financial Conduct Authority (FCA), the new regulator that will become operational later this year.

The current system is focused on an Approved Persons Regime, which the BBA argues could be strengthened by ensuring that all banking sector roles with significant responsibility for risk or customer-facing activity would be covered. This would include anyone with a wholesale markets function, such as employees who help to set Libor benchmark rates.

The BBA says that "setting up a 'register of bankers' that individuals could be removed from or some sort of 'blacklisting' [may be necessary] with the aim of preventing an individual from working in the banking sector (and perhaps all of financial services)".

The BBA assesses two main options for an entirely new system: one would represent a "top-down approach [focused] on organisations as a whole and seeks to raise standards by requiring them to take steps to improve the oversight, monitoring and control of employees". This approach would be overseen externally by a body which the BBA proposes to call the Banking Standards Review Council.

That new organisation, the BBA suggests, "would need to be independent of the industry - by which we mean an independent non-banking chairman and a majority of non‐banking members, including customers of banking services and the public interest, but with industry support and input".

As well as overseeing bankers' behaviour, it could also operate a whistle-blowing system for bank employees.

Employees of both UK and overseas banks would have to adhere to a code that would be modelled on the Lord George Principles of Business Conduct, which include a duty "to act honestly and fairly at all times when dealing with clients, customers and counterparties and to be a good steward of their interests".

But, the lobby group warns, the creation of a new body could effectively mean moving to a "three peaks" regulatory system which duplicated the existing regime and risked causing "unnecessary and confusing complexity".

The BBA also highlights in its submission a "bottom-up approach...focused on professional standards [of] the individuals operating within the industry and seeks to raise their technical competencies and ethical standards. This approach is a feature of other professions, including the medical, legal and accounting sectors".

It could involve establishing a Professional Standards Board and could be "separate to the potential Banking Standards Review Council envisaged under the 'top-down' approach, or be one and the same".

Anthony Browne, the BBA's Chief Executive, is due to appear before the Parliamentary Commission later on Monday, where he is expected to discuss the options contained in the lobbying group's submission.

The options were formulated by a taskforce involving major UK banks including Barclays and Royal Bank of Scotland, along with two European banks and one American lender which are among the BBA members. KPMG, the professional services firm, was also involved.

As Sky News revealed last week, the chairmen of the six British-based banks have met to discuss the proposals, about which they did not reach a unanimous view. Hinting at the level of debate between them, the BBA submission admits that "it may be that the answer to strengthening ethical and professional standards lies in large part with the new regulator".

Some of the bank chairmen have argued during private discussions that they should wait until the FCA has outlined its approach to tackling banking standards-related issues before establishing a new body, while others believe a new organisation should be set up as soon as possible.

People familiar with the BBA's submission said it had decided to present the pros and cons of each proposal because it did not want to appear to be prescriptive at a time when the group has been discredited by its role as the overseer of the Libor-setting process.

"There was a feeling that a single option proposed by the BBA would be discounted by the Parliamentary Commission because of the difficult time the BBA is having at the moment," said one person familiar with the submission process.

The BBA said that tough new oversight of bankers' behaviour would not necessarily deter banks from investing in the UK.

"A well-formulated proportionate approach to any Code and Council should, in fact, enhance the attractiveness of the UK as a place to do business.

"If the application of the Code raised standards of professional conduct and enhanced trust it should attract companies, capital and clients to the market. In this respect, parallels can be drawn with the UK law and judicial system, which draws people to London by virtue of the confidence in which it is held," its submission says.

The BBA declined to comment further ahead of Mr Browne's evidence session.


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Struggling HMV Calls In Administrators

By Mark Kleinman, City Editor

HMV has thrown in the towel after years of struggling to fend off nimbler rivals by calling in administrators in a move which puts more than 4,000 jobs in jeopardy.

As Sky News revealed exclusively earlier on Monday evening, the board of HMV has served notice of its intention to appoint Deloitte to oversee last-ditch efforts to rescue the high street entertainment retailer.

Following a board meeting that lasted several hours, HMV directors, led by the chairman, Philip Rowley, and chief executive Trevor Moore, decided the business could no longer trade without insolvency protection.

HMV had been in talks with its lenders until last week about a new financing package, the terms of which could not be agreed, according to insiders.

The company said on Monday:

"On 13 December 2012, the Company announced that as a result of current market trading conditions, the Company faced material uncertainties and that it was probable that the Group would not comply with its banking covenants at the end of January 2013. The Company also stated that it was in discussions with its banks.

"Since that date, the Company has continued the discussions with its banks and other key stakeholders to remedy the imminent covenant breach. However, the Board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection, and in the circumstances therefore intends to file notice to appoint administrators to the Company and certain of its subsidiaries with immediate effect.  The Directors of the Company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business."

Trading in HMV's shares, which are now expected to be worthless, will be suspended on Tuesday morning.

The appointment of Deloitte follows the accountancy firm's work on the collapse of Woolworths in 2008.

HMV has been caught between the encroachment onto its turf of supermarket chains such as Tesco and Asda, and the explosive growth of digital specialists like Amazon which are unencumbered by hefty real estate costs.

Chuka Umunna, the shadow business secretary, said the news of HMV's potential demise was "deeply worrying":

"HMV is a national institution that has been a feature of our high streets for over 90 years, so this news is deeply worrying.  For the sake of HMV's employees, we hope a way can be found to keep the business going – the demise of this national institution would be a sad loss to British retail."

HMV traces its roots back to 1921, when Sir Edward Elgar, the renowned composer and conductor, opened its first store on London's Oxford Street.

Retail insiders said Deloitte is likely to be "inundated" with offers for parts of HMV's business, including its brand, but said it was unlikely that any buyer would emerge for the whole business.


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Insurers To Claw Back Cost Of UK Floods

Written By Unknown on Senin, 14 Januari 2013 | 11.46

By Isabel Webster, West Of England Correspondent

The clean-up from the 2012 floods is expected to cost insurers over £1bn and push premiums up for a fourth consecutive year.

Eight thousand properties were flooded last year, according to the Environment Agency, as flooding remains Britain's greatest risk.

Residents and business owners in the town of Braunton in Devon experienced flash floods in the days before Christmas.

Pub landlord Mark Ridge, from the London Inn, is expecting to claim in excess of £160,000.

He had initially thought the damage could be repaired in a fortnight but has now been told he will have to close until Easter.

"It soon became apparent that it was a rip-out job, strip the whole pub, and get the insurances involved," said Mr Ridge.

Flood damagad London Inn The flood-damaged London Inn in Braunton

"That's everything from the buildings, to contents, stock, loss of earnings, staff wages have to be claimed for as well. All of which we have to pay for first and then claim back - so it's not an easy task."

Four of the top five wettest years on record have been since the year 2000 which is putting pressure on the Government and insurers to renew their 10-year deal to provide universal cover for all homes, including those in flood prone areas.

Mohammad Khan, a partner at PricewaterhouseCoopers (PwC), said: "The weather events of 2012 have dented insurers' profits and will probably lead to renewal premiums rising by up to 5% for those unaffected by the floods and by up to 50% for those flooded.

"The UK floods therefore, have also brought into sharp focus the current standoff between the insurance industry and the Government on the renewal of the Flood Principles - agreement needs to be reached in 2013."

The negotiations over continued cover from insurers, in return from assurances from the Government including the managing of flood risks and robust planning controls, will continue until June.

UK weather Last year's flooding is expected to push up insurance premiums

Matt Cullen, from the Association of British Insurers, warned: "We've calculated following some extensive research that if we don't reach agreement with the Government over what replaces the Statement of Principles then around 200,000 homes in flood-proned areas could struggle to access cover."

But the Government has played down the likelihood of such a situation.

A Defra spokesperson said: "We want to find a lasting solution that secures the affordability and availability of flood insurance for the first time, without placing unsustainable costs on wider policyholders or taxpayers.

"Our primary role is to prevent flooding in the first place. We are on course to spend £2.3bn on preventing flooding and coastal erosion over this four-year period."

PwC said it estimates the cost of the floods to the insurance industry in 2012 to now add up to around £1bn.


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Jaguar Land Rover Creates New Jobs As Sales Surge

Jaguar Land Rover is to create 800 new UK jobs in what the Government has described as "a welcome boost" for the car industry.

It comes as the Indian-owned, but British-based car maker, reported record global sales, and follows news last week that Japanese car maker Honda is to slash 800 jobs at its Swindon factory.

Jaguar Land Rover said the jobs, at its Solihull plant in the West Midlands, where it has already invested £370m, would support the introduction of new models this year.

More than 200 of the new West Midlands roles would be supported by the Government's regional growth fund, which recently award the business £8m, the car maker said.

Jaguar Land Rover said global sales had leapt 30% in 2012, when it sold 357,773 vehicles.

The group said China was now its biggest market and had seen a 70% jump in sales last year.

The car maker announced last year it would start manufacturing vehicles in China for the first time, after agreeing a £1bn joint-venture with Chinese car maker Chery.

It said Land Rover sales grew 36% globally, with the top five markets in China, the UK, US, Russia and Italy, while Jaguar sales were up 6%.

Jaguar Land Rover has taken on 8,000 people in the last two years, and now employs 25,000 people around the world.

The 1,000,000th Land Rover Discovery (Centre) arrives on stage at the Jaguar Land Rover factory on February 29, 2012 in Solihull, England. The Jaguar Land Rover production line at the company's Solihull plant

Production started at Jaguar Land Rover's Solihull plant in 1948. The site covers 300-acres where the Range Rover, Range Rover Sport, Land Rover Defender and Discovery are all made.

Tata bought the group from Ford in 2008, in a £1.1bn deal.

Responding to the announcement, Business Secretary Vince Cable said: "Jaguar Land Rover's creation of 800 new jobs in Solihull to support new product development is a welcome boost for the UK automotive industry.

"The company's investment of £2bn this year and 8,000 new jobs over the last two years shows how JLR goes from strength to strength.

"With support from the Government's Regional Growth Fund, it's a clear demonstration of where the Government working in partnership with the private sector can make a real difference to the UK economy."

Unite's assistant general secretary Tony Burke said: "Although the contracts are for one year, we hope that we can convert them into well paid, permanent jobs in the future. The Evoque is a very successful export leader so there is no reason why that can't happen in the future.

"The workforce at Solihull are highly skilled and have made a massive contribution to the success of the company here in the UK."


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David Cameron Faces Party Battle Over Europe

Written By Unknown on Minggu, 13 Januari 2013 | 11.46

David Cameron is facing a challenge to hold his party together as battle lines are drawn over Europe.

With just over a week until the Prime Minister's key speech on Britain's relationship with the EU, Tory Europhiles have launched a fight-back against demands for an in-out referendum.

Cabinet minister Ken Clarke will share a platform with Labour peer Lord Mandelson later this month to stress the benefits of remaining in the union.

The move comes after fellow Conservative Lord Heseltine warned that the economy would suffer if Mr Cameron took a "punt" and committed to a national poll on membership.

Around 20 Tory MPs have also apparently signed a letter, due to be published this week, warning of "massive damage" if the UK leaves the EU.

Rumours have been circulating that Downing Street has given tacit approval to efforts to highlight the dangers of an exit.

In an unusual intervention last week, senior US diplomat Philip Gordon openly stated that America wanted Britain to remain in the EU.

Prominent business figures including Sir Richard Branson and PR guru Roland Rudd have also spoken out about the potentially dire consequences of severing ties.

Sources told the Mail on Sunday (MoS) that Mr Cameron believes it is "mad" to think that Britain can go it alone.

Michael Heseltine Michael Heseltine says the economy will suffer if a referendum is called

And Tory backbencher Robert Buckland, who has organised the pro-membership letter, said he had been informed that Number 10 regarded his efforts as "helpful".

"There is a silent majority out there who do not want Britain to leave the EU," he told the MoS.

"The danger for the Tories is that because the right-wing Eurosceptics are making the most noise, we could slide towards the exit door of the EU."

Mr Buckland added: "I have been told No 10 views my efforts as being helpful. The Prime Minister is a Eurorealist. He wants us to stay in the EU while having a debate about the terms of our membership, but it must not be used as a Trojan horse to get us to leave."

According to the Observer, Mr Clarke and Lord Mandelson are spearheading a new organisation, the Centre for British Influence through Europe.

The group, due to launch at the end of the month, will apparently support a cross-party "patriotic fightback for British leadership in Europe".

However, Tory Eurosceptics are determined to maintain pressure on Mr Cameron, buoyed by Chancellor George Osborne's recent comments that the UK can only stay in the EU if it changes.


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Insurers To Claw Back Cost Of UK Floods

By Isabel Webster, West Of England Correspondent

The clean-up from the 2012 floods is expected to cost insurers over £1bn and push premiums up for a fourth consecutive year.

Eight thousand properties were flooded last year, according to the Environment Agency, as flooding remains Britain's greatest risk.

Residents and business owners in the town of Braunton in Devon experienced flash floods in the days before Christmas.

Pub landlord Mark Ridge, from the London Inn, is expecting to claim in excess of £160,000.

He had initially thought the damage could be repaired in a fortnight but has now been told he will have to close until Easter.

"It soon became apparent that it was a rip-out job, strip the whole pub, and get the insurances involved," said Mr Ridge.

Flood damagad London Inn The flood-damaged London Inn in Braunton

"That's everything from the buildings, to contents, stock, loss of earnings, staff wages have to be claimed for as well. All of which we have to pay for first and then claim back - so it's not an easy task."

Four of the top five wettest years on record have been since the year 2,000 which is putting pressure on the Government and insurers to renew their 10-year deal to provide universal cover for all homes, including those in flood prone areas.

Mohammad Khan, a partner at PricewaterhouseCoopers (PwC), said: "The weather events of 2012 have dented insurers' profits and will probably lead to renewal premiums rising by up to 5% for those unaffected by the floods and by up to 50% for those flooded.

"The UK floods therefore, have also brought into sharp focus the current standoff between the insurance industry and the Government on the renewal of the Flood Principles - agreement needs to be reached in 2013."

The negotiations over continued cover from insurers, in return from assurances from the Government including the managing of flood risks and robust planning controls, will continue until June.

UK weather Last year's flooding is expected to push up insurance premiums

Matt Cullen, from the Association of British Insurers, warned: "We've calculated following some extensive research that if we don't reach agreement with the Government over what replaces the Statement of Principles then around 200,000 homes in flood-proned areas could struggle to access cover."

But the Government has played down the likelihood of such a situation.

A Defra spokesperson said: "We want to find a lasting solution that secures the affordability and availability of flood insurance for the first time, without placing unsustainable costs on wider policyholders or taxpayers.

"Our primary role is to prevent flooding in the first place. We are on course to spend £2.3bn on preventing flooding and coastal erosion over this four-year period."

PwC said it estimates the cost of the floods to the insurance industry in 2012 to now add up to around £1bn.


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