Patrick McLarry sentenced to five years for defrauding scheme of more than £250,000
The former head of a charity has been jailed for five years after he admitted defrauding a pension scheme for workers with disabilities and using the money to buy houses in England and France.
Patrick McLarry took more than £250,000 from the pension scheme of Yateley Industries for the Disabled and used it to buy homes for himself and his wife and pay off a debt for a pub lease.
Continue reading...Moves comes as Britain launches consultation on creation of up to 10 of the zones
Brussels is clamping down on 82 free ports or free zones after identifying that their special tariff and duty status has aided the financing of terrorism, money laundering and organised crime.
A set of new rules was introduced by the European commission just weeks before the launch on Monday of a UK government consultation on the creation of up to 10 free ports in post-Brexit Britain.
Continue reading...Microsoft billionaire’s innovative and eco-fuelled 112m Aqua vessel to launch after 2024
Bill Gates has ordered the world’s first hydrogen-powered superyacht, worth an estimated £500m ($644m) and featuring an infinity pool, helipad, spa and gym.
The billionaire co-founder of Microsoft has commissioned the Aqua ship – a 112-metre (370ft) luxury vessel completely powered by liquid hydrogen – which was publicised last year at the Monaco yacht show by the Dutch design firm Sinot.
Continue reading...PM will promise range of other infrastructure projects to appease nothern voters
Boris Johnson will give the final go-ahead to the first phase of the controversial HS2 high speed rail link early this week – despite fears over spiralling costs and strong opposition from at least 60 Tory MPs.
The prime minister is expected to make an announcement to parliament on Tuesday approving construction of the line between London and Birmingham, two days before conducting a wide-ranging reshuffle of his cabinet.
Continue reading...Sussexes appear in one of their first engagements since stepping down as senior royals
The Duke and Duchess of Sussex attended an exclusive JP Morgan event in one of their first engagements since stepping down as senior royals, a palace source has said.
It is unclear whether the couple, who have pledged to become more financially independent, were paid for their roles as speakers at a summit the banking giant hosted in Miami on Thursday.
Continue reading...Australia’s economy is unusually dependent on China, and a coronavirus-driven slowdown could mean billions in lost revenue
Australia could be one of the countries worst affected by the economic impact of the coronavirus outbreak as factories in China remain shuttered and millions of people are confined to their homes and banned from travelling.
The Reserve Bank of Australia on Friday stuck to its forecast of strong growth this year thanks to a rising housing market, and the stock market – along with others around the world – has largely shrugged off concerns about the global impact of the virus to remain close to all-time highs.
Continue reading...Ousted Credit Suisse chief transformed Prudential before City regulator censured him
Tidjane Thiam is the scion of an influential family whose political connections and history spread across two West African countries: Ivory Coast and Senegal.
The 57-year-old came to prominence in the UK when he was named as the head of Prudential in 2009, making him the first black chief executive of a major British company.
Continue reading...The 57-year-old loses boardroom battle with Thomas Gottstein set to replace him
The Credit Suisse chief executive, Tidjane Thiam, has been ousted in the wake of a saga involving corporate espionage, an alleged car chase and personal vendettas that has sent shockwaves through Switzerland’s famously discreet banking community.
Thiam, widely seen as one of the finance world’s leading lights, resigned after losing a boardroom battle that erupted when the bank admitted to having hired private detectives to spy on former staff.
Continue reading...Philip Lowe says China’s economy is now bigger and more integrated into the world economy so the impact is likely to be greater
The coronavirus outbreak could do more damage to the Australian economy than 2003’s Sars outbreak, governor of the Reserve Bank Philip Lowe has said.
Appearing before the House of Representatives economics committee in Canberra on Friday, Lowe said China’s economy was now much bigger and more integrated into the world economy.
Continue reading...Region’s producers were angry that redrawn map would stop them using prestigious name
Furious French winemakers have forced officials to back down over controversial plans to ban a number of prestigious wines from calling themselves “burgundy”.
The region’s producers saw red over proposed changes relating to which bottles can be labelled as coming from the region.
Continue reading...Lawyer says 81-year-old behind history’s largest Ponzi scheme uses a wheelchair and has multiple serious conditions
Bernard Madoff, the fraudster behind the largest Ponzi scheme in history, said Wednesday that he was dying of kidney failure and is seeking early release from his 150-year prison sentence.
In a court filing Madoff’s lawyer said the 81-year-old uses a wheelchair, often requires oxygen, and suffers from cardiovascular disease, hypertension, insomnia and other chronic and serious medical conditions. He is too old for a transplant and has been moved to the Federal medical center prison in Butner, North Carolina.
Continue reading...Watchdog reveals huge sum ploughed into ‘world’s dirtiest fossil fuels’ despite climate vow
UK taxpayer funds totalling $750m (£577m) have been invested in new fossil fuel projects in developing African countries despite the government’s public commitment to tackling the climate crisis, according to an international watchdog.
Global Witness found that a London-based investment group raised $1bn from the UK government over 16 years and spent three-quarters of this supporting oil and gas projects in some of Africa’s poorest countries.
Continue reading...Impact of Chinese outbreak has already rippled out well beyond world’s No 2 economy
The impact of coronavirus on the global economy is growing and spreading daily. What started as a medical emergency in the Chinese city of Wuhan has led to planes being grounded, cruise ships being quarantined, theme parks being shut and car plants being mothballed.
TV footage of deserted streets and empty shops tell their own story: China’s economy, which was already slowing, is going to suffer a major hit as the authorities seek to stop the virus from spreading.
Continue reading...Thousands on board Diamond Princess cruise ship in offshore quarantine in Japan after 10 people test positive, as China death toll passes 490
A hotel worker in the northern Italian city of Verona has tested negative for coronavirus.
The woman, who was isolated after coming down with a fever, is a member of staff at the same hotel where a Chinese couple being treated for the virus in Rome stayed for one night.
Here’s a report from Josh Taylor, a Guardian reporter based in Melbourne, that the Australian government is considering sending its citizens evacuated from Wuhan to isolated mining camps if Christmas Island reaches capacity for people being quarantined.
The home affairs minister, Peter Dutton, admitted there is the possibility that Christmas Island could reach capacity if the outbreak continues to spread. He said one option would be for people to share rooms, or potentially even open up other locations away from the rest of the Australian population.
Related: Coronavirus: 14th Australian case confirmed as Dutton says people could be sent to mining camps
Continue reading...Move will cost €200m over five years but have limited financial impact on UK operations
Vodafone is to remove Huawei equipment from the sensitive, core parts of its mobile networks across Europe at a cost of €200m (£169m) over the next five years.
The group, which has 111 million customers across Europe, has taken the decision after the UK government’s move last week to limit the use of Huawei equipment in the country’s 5G network.
Continue reading...Co-writer of the multimillion-selling series to step down in March, leaving questions over long-awaited sixth instalment
Dan Houser, a co-founder of Rockstar Games, is leaving his post in March, according to the developer’s parent company Take-Two Interactive. Houser was lead writer on the multimillion-selling Grand Theft Auto series, as well as other Rockstar hits including the acclaimed western adventure Red Dead Redemption.
In a statement to investors on Tuesday, Take-Two stated that Houser, who was creative vice president at the studio, would leave Rockstar on 11 March after taking an “extended break”, which began in spring last year. Houser’s brother Sam, with whom he co-founded Rockstar Games in 1998, will stay on as company president.
Continue reading...Crossbencher ‘hopes to think’ she is close to a deal with government on union penalty bill unexpectedly defeated last year
Senator Jacqui Lambie is looking to strike a deal with the government “as soon as possible” on the union penalty bill, while Labor struggles to contain a debate in its own ranks about union-backed superannuation funds.
Lambie is meeting the industrial relations minister, Christian Porter, on Tuesday to continue negotiations on the bill, which would lower the threshold for the deregistration of unions and disqualification of their officials.
Continue reading...Firms may cut prices on plug-in electric hybrids to escape new EU emissions fines
Carmakers are bracing for a hybrid electric car price war this year as they try to avoid steep EU fines for carbon dioxide emissions.
Related: 2020 set to be year of the electric car, say industry analysts
Continue reading...Joining a battle already being waged by many other cities, the Czech capital’s mayor wants new laws to limit the lettings website
For decades, its mesmerising blend of baroque and gothic beauty was closed to mass tourism by the iron curtain that divided the communist east from the capitalist west during the cold war.
Now Prague, which has gained an unenviable reputation as a destination for stag nights and pub crawls, has become the latest European city to propose a radical assault on Airbnb and other short-term letting platforms as over-tourism threatens to overwhelm it and drive out residents.
Continue reading...Labor claims that although six of the recommendations have been implemented, the government has fallen behind their set timeframe
Labor has attacked treasurer Josh Frydenberg for falling behind on the government’s promised timetable for turning the recommendations of the banking royal commission into law.
On Friday, to coincide with the first anniversary of royal commissioner Kenneth Hayne’s final report, Frydenberg said the government was “on track to meet the accelerated timetable” to implement royal commissioner Kenneth Hayne’s 76 recommendations.
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