BIZWORLD

Bolivia nationalized the company that runs the three largest airports in Bolivia because the government claims the company did not invest in improving the airports.

2013-02-19T12:07:00.001Z

Servicios de Aeropuertos Bollivianos SA (Sabsa) is a division of Spain's Abertis Infraestructure SA but Sabsa is also partly owned by Aena Aeropuertos SA based in Madrid. Bolivian president Evo Morales said that the privatization of Sabsa in 1997 was equivalent to "robbery" and "looting". He claimed that since that time the company's profits have been exorbitant and investments "ridiculous".

real estate company Reyal Urbis filed for insolvency after failing to renegotiate debt with its creditors.

2013-02-19T11:52:00.001Z

Spain's property market crash claimed another victim on Tuesday, as real estate company Reyal Urbis filed for insolvency after failing to renegotiate debt with its creditors.

The move takes the property developer, which had 3.6 billion euros ($4.8 billion) of debt at the end of September, closer to becoming Spain's second-largest bankruptcy after Martinsa Fadesa, which defaulted on 7 billion euros of debt in 2008.

Dozens of property companies have collapsed in Spain, where house prices have fallen around 40 percent since their 2007 peak. With the country locked in a deep recession, analysts expect prices to fall further still.

Spain's banks were crippled by the property market bust, eventually requiring the state to agree a European bailout for its lenders of almost 40 billion euros last year. Indebted property firms have asked banks for debt relief but patience is wearing thin among lenders saddled with soured property assets.

Reyal Urbis is 70 percent owned by construction magnate Rafael Santamaria and its creditors include Santander, BBVA, Bankia and Banco Popular.

The company, which valued its property portfolio at 4.2 billion euros in June 2012, said it would continue to operate as permitted by Spanish insolvency laws.

Its insolvency petition now goes to court and its fate will be in the hands of a judge.

Reyal Urbis said Santamaria would remain at the helm of the company and he still hoped Reyal Urbis could reach a deal with its creditors, given "the good will of all negotiating parties".

The company had until Feb. 23 to reach a debt restructuring deal with the banks or file for insolvency. Sources close to the matter told Reuters on Friday that creditors had rejected the company's 3.6-billion-euro proposal.

Trading in the company's shares was suspended on Tuesday, Spain's stock market regulator said. The stock had plunged 99 percent since June 2007 to close at 0.124 euros on Monday.

At the end of 2011, Reyal Urbis owned some 888 finished homes in a country where over a million homes lie empty. The company also had 8 million square metres of land for development and 237,000 square metres of commercial property, including offices, shopping centres, industrial property and hotels.

2012-07-12T01:33:00.001+01:00

Mobile operator O2 hit by nationwide network failure that left users unable to make calls or text

2012-07-12T00:58:00.001+01:00

The O2 mobile phone network crashed tonight leaving thousands of customers across the country cut off. Users were left stranded, unable to make or receive calls or send texts, as the firm - which has 23 million customers in the UK - said it did not know when the problem would be fixed. Some customers also had no internet access. O2, Britain's second-largest mobile phone operator, admitted it was unclear exactly how many people had been affected. It said ‘thousands’ may be experiencing problems. The problems began this afternoon for some mobile users, the network said. O2 are urging customers to check their Twitter and Facebook feeds for updates - but the company’s webpage which displays live information about network coverage crashed. A spokeswoman said the problem was not 'location-specific'. ‘The problem is an issue within part of our core network that is preventing some mobile phones from successfully connecting,' she said. ‘The problem is not location-specific. All possible resources across our and our suppliers’ engineering teams are being deployed to restore service as soon as possible.’ Thousands of angry customers took to Twitter to complain. BBC television presenter Huw Edwards (@huwbbc), tweeted: ‘6 hours of non-service and counting, simply not good enough, O2.’ One Twitter user, Kelly Jones (@kelly-92), tweeted: ‘Having a phone that hardly works usually is annoying, but this whole no signal on o2 all afternoon is beyond irritating.’

The richest woman in the world, according to a respected business magazine, is not Oprah Winfrey, Queen Elizabeth II or L'Oreal heiress Liliane Bettencourt.

2012-07-09T10:03:00.001+01:00

It's a relatively unknown Australian mining magnate. So who exactly is Gina Rinehart?

Asked once to sum up her concept of beauty, Gina Rinehart did not point to the pearls that so often adorn her neck.

Nor did she rhapsodise about the ochre landscape of her beloved Pilbara, a beautiful, if unforgiving, expanse of land in the northwest corner of Australia.

Instead, she spoke of the unlovely commodity that has made her family rich, and the giant holes in the ground from where it came. "Beauty is an iron mine," she famously remarked.

When her father, Lang Hancock, discovered one of the world's biggest reserves in the early 1950s, the export of iron ore was banned in Australia because it was deemed such a scarce and finite resource.

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Gina Rinehart

Georgina Hancock born in Perth in 1954, studied in Sydney
Father Lang Hancock made huge iron ore discovery in Western Australia before her birth
Married lawyer Frank Rinehart in 1983
After father's death in 1992, Gina became executive of the company
Widowed with four children

Rinehart 'world's richest woman'

Tens of thousands of iron ore shipments later, royalty payments from that Pilbara mining field in Western Australia continue to swell her coffers.

The Hancocks were not the sole beneficiaries. The multi-billionaire fervently believes that her father's discovery also made Australia prosperous, which partly drives her recent quest for influence, gratitude and respect.

It is partly borne of a lifelong sense of grievance - that Australia's traditional east coast elites have not recognised her family's contribution to the country's development, nor the local media.

With an estimated net personal wealth of $A29 billion ($US29.3bn, £18.79bn), Rinehart has in recent years gone from being Australia's richest woman to Asia's richest woman to arguably the world's.

Australian business magazine BRW has named her the world's wealthiest woman, and Citigroup has also predicted that the 58-year-old businesswoman will soon top the global rich list, with more than $100bn (£64.8bn) of assets to her name.

Gina Rinehart is said to make nearly A$600 (£393) a second

The royalty stream from that initial discovery - the "rivers of the gold," as it has been called - still contributes to her wealth, but it pales alongside the value attached to her mining interests in Western Australia and Queensland.

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“Start Quote

Whatever I do, the house of Hancock comes first”

She hates being called a mining heiress because she considers herself a self-made businesswoman who turned her company around after her father's death in 1992.

From a worldwide perspective, her spiralling wealth illustrates the shift in economic activity from the west to the east. From an Australian one, she embodies the shift from the east to the west. Once it was media moguls like the late Kerry Packer who topped the Australian rich lists. Now it is minerals magnates who are profiting from the country's China-fuelled resources boom.

Rinehart has set out to become both a magnate and a mogul, which is why she is the subject of so much attention and controversy.

Along with her mining interests, she now owns a share of Channel Ten, one of the three major commercial television networks, and has also become the single biggest shareholder in Australia's second largest newspaper group, Fairfax Media, although she reduced the size of that stake last week.

The group publishes three of the country's most venerable mastheads - the Sydney Morning Herald, the Melbourne Age and the Australian Financial Review, and the suspicion among many Fairfax journalists is that she will attempt to turn them into mouthpieces for her right-wing views.

The dark joke is that the Sydney Morning Herald might become the Sydney Mining Herald. However, she has not been able to gain seats on the board because of a dispute about her refusal so far to accept the group's declaration of editorial independence.

Her father Lang Hancock was a huge influence on her

Her mining company, Hancock Prospecting, is essentially her life. She has few outside interests. She does not go in for the normal blandishments of wealth, like art, racehorses or a private plane.

She is renowned for her 24/7 work regime, and a tunnel-visioned determination. Her personal feuds are the stuff of legend and her long list of adversaries has included her father, his business partner, her first husband, her Filipino mother-in-law, Rose Porteous, and now three of her children.

Rinehart spoke at an anti-tax rally in Perth in 2010

Famously litigious, many of her battles have ended up in court. "Whatever I do, the house of Hancock comes first," she once told a reporter. "Nothing will stand in the way of that."

Like her rambunctious father Lang, who railed against the scourge of "Canberra-ism," and "eco-nuts" in the environmental movement, her political views are a blend of conservatism and libertarianism.

An early heroine was Britain's Iron Lady, Margaret Thatcher, whom she met over lunch in 1977. Afterwards, the young Gina took much more care to dress in a business-like fashion, got a new hairdresser and started to wear more make-up.

Another intellectual hero was the free-market economist Milton Friedman. One of the reasons she cited for raising her children in the US, aside from her marriage to the Harvard-educated Frank Rinehart, was the hope that they might be taught by Friedman.

She is also a climate change sceptic, and close to the British Viscount, Christopher Monckton. On a visit to Perth last July, during which he delivered the Lang Hancock Memorial Lecture, Monckton spoke of Australia's need for an equivalent of Fox News, which could be funded by the "super-rich".

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Other rich women

Christy Walton - widow of John, son of the founder of Wal-Mart, Sam Walton
Liliane Bettencourt - daughter of L'Oreal founder Eugene Scheueller
Johanna Quandt - third wife of German executive who rescued BMW
Oprah Winfrey - television host and media mogul, one of the world's richest self-made women
Birgit Rausing - art historian from Sweden inherited packaging firm Tetra Laval after death of husband
Rosalia Mera - after dropping out of school to make dresses before her teens, the Spaniard co-founded retail company Inditex, which owns Zara

Rinehart was not present at the private meeting, but few doubted the identity of the "super-rich" person whom Monckton had in mind. When a video of his remarks was posted online, it heightened speculation that she was pursuing some kind of Foxification strategy in Australia.

I have also been told by one of her associates that she met Rupert Murdoch earlier this year, partly to discuss Fox News.

Given that the newspapers published by Rupert Murdoch's Australian arm, News Ltd, boast a 70% share of Australian readership, and that Fairfax has the remaining 30%, the widespread fear is of a conservative duopoly, and an end to editorial pluralism.

Rinehart's $A165m (£107m) stake in Channel Ten has already lost more than half its value and Fairfax, which last week announced 1900 job cuts, is not seen as a particularly attractive investment. Like her father, who started two newspapers, the profit motive is not a major consideration. Her investment, it is thought, is about political influence.

Besides, the amount of money involved is for her comparatively small. As an associate recently explained to me, she is adopting the same approach that the super-rich use when purchasing luxury yachts or private planes, which is not to invest more than 10% of their wealth.

In her ongoing drive for influence, the debate two years ago over the Labor government's plans to hit the mining sector with a super profits tax was a major milestone.

Unusually for a woman who has preferred to exert a behind-the-scenes influence, Rinehart led the chant of "axe the tax" at a protest rally in 2010 aimed at the then Prime Minister Kevin Rudd.

Her billionaire activism lent itself to easy caricature. A reporter from the Fairfax-owned WA Today joked that it was possible to hear her gold bracelet jangling "a note-perfect version of 'Money, Money, Money' as she pumped her fist". Within weeks, however, Rudd had been ousted, and his successor, Julia Gillard, immediately announced a climbdown over the mining tax.

Rinehart met the Queen when the British monarch visited Perth

Just as Rinehart wants influence and gratitude, she is also determined to maintain rigid control of her company. Presently, she is locked in a highly-publicised legal battle with three of her four children over a family trust set up by Lang Hancock for his grandchildren.

The trust, which owns a share of her company, was due to settle its assets last September, when Lang's youngest grandchild, Ginia, turned 25. But Rinehart allegedly tried to push back the date that her children could become trustees until 2068.

Determined to retain sole control, she warned her children they faced ruin if they refused to bend to her will. "Sign up or be bankrupt tomorrow," she threatened in an email. "The clock is ticking. There is one hour to bankruptcy and financial ruin."

Her three eldest children described the manoeuvre as "deceptive, manipulative, hopelessly conflicted and disgraceful". It is not so much about greed. Rinehart offered her three estranged children big payments to go along with her plan. It is more about control.

Commentators expect the same aggressive approach with her media strategy. After all, Australia's richest ever person is used to getting her own way.

Bankers face the prospect of jail as Serious Fraud Office launches criminal probe into interest-rate fixing at Barclays

2012-07-06T16:33:00.001+01:00

Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this week

A criminal investigation has been launched into alleged rigging of the Libor rate within the banking industry, the Serious Fraud Office (SFO) confirmed today.

SFO director David Green QC formally accepted the Libor issue for investigation after Barclays was fined by the Financial Services Authority (FSA) last week for manipulating the key interbank lending rate which affects mortgages and loans.

The claims ultimately led to the resignation of Barclays boss Bob Diamond and have become the focal point of a fierce political debate over ethics in the banking sector.

The investigation could ultimately lead to criminal prosecutions and bankers facing charges in court.

The SFO's update came after it revealed earlier this week that it had been working closely with the FSA during its investigation and would consider the potential for criminal prosecutions.

The Government department, which is responsible for investigating and prosecuting serious and complex fraud, said on Monday the issues surrounding Libor were "complex" and that assessing the evidence would take time.

Under fire: Barclays former chairman Marcus Agius (right) with former CEO Bob Diamond (centre), and former chief executive John Varley (left)

As the SFO prepares its investigation, Labour leader Ed Miliband continued to push for an independent inquiry into the banking scandal despite MPs rejecting the demands.

The Labour leader said that while the party would cooperate with a parliamentary investigation, its remit was too "narrow" and a judge-led probe was still needed.

Mr Miliband also defended the conduct of Ed Balls after the shadow chancellor engaged in a bitter war of words with his opposite number George Osborne in the Commons.

Barclays boss Bob Diamond resigns

2012-07-03T08:16:00.001+01:00

Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates. Mr Diamond said he was stepping down because the external pressure on the bank risked "damaging the franchise". Chairman Marcus Agius, who said on Monday he was stepping down, will take over the running of Barclays until a replacement is found. "I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement. He will still appear before MPs on the Treasury Committee to answer questions about the Libor affair on Wednesday. "I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question," Mr Diamond said. Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions. Staff did this over a number of years, trying to raise them for profit and then, during the financial crisis, lowering them to hide the level to which Barclays was under financial stress. Prime Minister David Cameron has described the rigging of Libor rates as "a scandal". The Serious Fraud Office is also considering whether to bring criminal charges.

Police study Murdoch's 'secret' iPhone account

2012-06-18T07:38:00.001+01:00

Scotland Yard detectives investigating phone hacking at the News of the World are examining the call records of four newly discovered Apple iPhones issued to senior executives at News International. The smartphones, issued by O2 in a contract beginning in October 2009, included a handset given to James Murdoch, the former chairman and chief executive of News Corp Europe. Despite billing for the phones totalling nearly £12,000 between June last year and May this year, neither Operation Weeting nor the Leveson Inquiry was told of the existence of the smartphone accounts. Phone text messages and emails sent and received by News International executives and advisers have provided some of the most controversial evidence heard by Lord Justice Leveson's inquiry into press practices and ethics. It had been assumed that the email and text traffic from key News International executives was centred solely on their company BlackBerry account with Vodafone. In accounts seen by The Independent, issued through 02's corporate customer services at Arlington Business Park in Leeds, Mr Murdoch's iPhone account is listed as "active". Mr Murdoch is said to have told 02 that he specifically wanted a "white iPhone" when the smartphone was issued to him in the summer of 2009. Katie Vanneck-Smith, listed as News International's chief marketing officer, also has an active account. Two other NI executive numbers are described as disconnected. Between June last year – just before The Guardian revealed in July that the mobile phone of murdered schoolgirl Milly Dowler had been hacked into – and the beginning of the Leveson Inquiry in November, the NI iPhone accounts were billed for £9,650. Last night, Labour MP Tom Watson said people would be "shocked" to learn that the smartphones had been issued to key NI executives, while the company's disclosures focused only on the BlackBerry Vodafone accounts. Mr Watson said he hoped that News Corp's Management and Standards Committee, which is responsible for all matters relating to phone hacking, would enforce its own promise of full transparency and appropriate disclosure, by revealing all the data and logs held on the discovered phones to both the police and the Leveson Inquiry. Last night, a spokeswoman for News International, said: "Mr Murdoch fully co-operated with the Leveson Inquiry. It is ridiculous to suggest that James Murdoch keeps or kept a 'secret phone'." Meanwhile sources close to the Leveson Inquiry have denied that Lord Justice Leveson threatened to quit his judicial investigation following comments made in February by Michael Gove. The Education Secretary told a gathering of political journalists that the inquiry into press ethics and practices was creating a "chilling atmosphere" towards press freedom. During Prime Minister's Questions in the Commons the day after Mr Gove's lobby speech, David Cameron appeared to back his cabinet colleague's view. Concern that Mr Gove might be the Prime Minister's advance messenger prompted Lord Justice Leveson to call the Cabinet Secretary, Sir Jeremy Heywood. Whitehall sources say Lord Justice Leveson wanted to learn directly from Mr Cameron whether his inquiry was wasting public money on an ultimately futile exercise or whether his initial remit stood. Although the reassurances from No 10 took two days to arrive, sources claim there was no threat from the judge to resign from his own inquiry.

Student Loans boss to stand down

2012-05-25T16:31:00.001+01:00

The chief executive of the Student Loans Company, who attracted controversy over his tax arrangements, is to stand down. The publicly-funded body says Ed Lester will leave his £182,000 post when his contract expires early next year. Until February, Mr Lester received his pay package without deductions for tax or National Insurance. An outcry over the arrangements led to a review of public sector pay. The review identified more than 2,400 cases of public sector staff being employed indirectly rather than having tax deducted at source through PAYE. Recruitment under way Since January, 350 such contracts have been ended and tighter rules have now been introduced. Mr Lester's salary arrangements had been agreed by the tax authorities and the government. He was paid gross through his private service company based at his home address. A spokeswoman for the Student Loans Company (SLC) said: "Ed Lester's two-year contract ends on January 31 2013. "The process to recruit his replacement is under way now to ensure that there is a smooth handover in the change of leadership at the Student Loans Company." Mr Lester would not be commenting, the SLC said, and his replacement would be paid through PAYE, as Mr Lester had been since February. The arrangement for Mr Lester's pay was disclosed in an HM Revenue and Customs letter obtained under the Freedom of Information Act by Exaro News and BBC Newsnight. Following the revelations, Treasury Chief Secretary Danny Alexander said the way in which Mr Lester received his salary would be changed and launched a review of similar arrangements across Whitehall. Each government department has now published a list of "off payroll" appointees earning more than £58,200. Mr Alexander also announced a consultation on a new law to require any person in control of an organisation, in the public or private sector, to be on its payroll.

Three killed in northern Italy earthquake

2012-05-20T09:33:00.001+01:00

Three people have been killed in a 5.9-magnitude earthquake that struck northern Italy near Bologna, according to reports. The quake that struck at just after 4am local time was centred 21.75 miles north-northwest of Bologna at a relatively shallow depth of six miles, the US Geological Survey said. Italian news agency Ansa, citing emergency services, said two people were killed in Sant'Agostino di Ferrara when a ceramics factory collapsed. Another person was killed in Ponte Rodoni do Bondeno. In late January, A 5.4-magnitude quake shook northern Italy. Some office buildings in Milan were evacuated as a precaution and there were scattered reports of falling masonry and cracks in buildings. The tremor was one of the strongest to shake the region, seismologists said. Initial television footage indicated that older buildings had suffered damage. Roofs collapsed, church towers showed cracks and the bricks of some stone walls tumbled into the street during the quake. As dawn broke over the region, residents milled about the streets inspecting the damage. Italy's Sky TG24 showed images of the collapsed ceramics factory in Sant'Agostino di Ferrara where the two workers were reportedly killed. The structure, which appeared to be a hangar of sorts, had twisted metal supports jutting out at odd angles amid the mangled collapsed roof. The quake “was a strong one, and it lasted quite a long time”, said Emilio Bianco, receptionist at Modena's Canalgrande hotel, housed in an ornate 18th century palazzo. The hotel suffered no damage and Modena itself was spared, but guests spilled into the streets as soon as the quake hit, he said. Many people were still awake in the town since it was a “white night”, with shops and restaurants open all night. Museums were supposed to have remained open as well but closed following the bombing of a school in southern Italy that killed one person. The quake epicentre was between the towns of Finale Emilia, San Felice sul Panaro and Sermide, but was felt as far away as Tuscany and northern Alto Adige. The initial quake was followed about an hour later by a 5.1-magnitude aftershock, USGS said. And it was preceded by a 4.1-magnitude tremor. In late January, a 5.4-magnitude quake shook northern Italy. Some office buildings in Milan were evacuated as a precaution and there were scattered reports of falling masonry and cracks in buildings. In 2009, a devastating tremor killed more than 300 people in the central city of L'Aquila.

2012-05-18T04:04:00.001+01:00

Spain’s banking crisis reached Britain’s high streets last night when the credit rating of Santander UK was cut.

2012-05-18T03:54:00.001+01:00

In a sweeping reassessment, ratings agency Moody’s announced in Madrid that it is downgrading 16 Spanish banks because it could not be sure of the ability of the country’s government to provide the necessary support.

Santander UK was among the banks highlighted after the ratings agency took aim at its parent Banco Santander, based in Spain.

The Spanish banking crisis has hit the British high street, with the news that Santander has had its credit rating cut

Santander is one of the biggest players in UK retail banking, having taken over the former Abbey National, Alliance & Leicester, Bradford & Bingley and most recently the English branches of the Royal Bank of Scotland.

The new lower A2 credit rating is certain to be a cause of anxiety to Santander UK’s millions of British customers.

Nevertheless, they can be confident that their deposits up to £85,000 are guaranteed by the British government should there be a loss of confidence.

'Queen of Disco' Donna Summer 'thought she became ill after inhaling 9/11 particles'

2012-05-17T22:17:00.001+01:00

The 63-year-old singer, who had hits including Hot Stuff, Love to Love You, Baby and I Feel Love, died in Florida on Thursday morning. She had largely kept her battle with lung cancer out of the public eye. But the website TMZ reported that the singer had told friends she believed her illness was the result of inhaling toxic dust from the collapsed Twin Towers. On Thursday night tributes were paid to the singer, considered by many to be the voice of the 1970s. A statement released on behalf of her family — husband Bruce Sudano, their daughters Brooklyn and Amanda, her daughter, Mimi from a previous marriage and four grandchildren — read: “Early this morning, surrounded by family, we lost Donna Summer Sudano, a woman of many gifts, the greatest being her faith. "While we grieve her passing, we are at peace celebrating her extraordinary life and her continued legacy.

Investigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime

2012-05-17T11:19:00.001+01:00

Grafitti saying 'Z 100%', referring to the Los Zetas cartel, near to where 49 mutilated bodies were found in Northern Mexico. Photograph: Miguel Sierra/EPA

Investigators are questioning Mexico's former deputy defence minister and a top army general for suspected links to organised crime, in the highest level scandal to hit the military in the five-year-old drug war.

Mexican soldiers on Tuesday detained retired general Tomás Angeles Dauahare and general Roberto Dawe González and turned them over to the country's organised crime unit, military and government officials said.

Angeles Dauahare was number 2 in the armed forces under President Felipe Calderón and helped lead the government's crackdown on drug cartels after soldiers were deployed to the streets in late 2006. He retired in 2008.

Dawe González, still an active duty general, led an elite army unit in the western state of Colima and local media said he previously held posts in the violent states of Sinaloa and Chihuahua.

An official at the attorney general's office said they would be held for several days to give testimony and then could be called in front of a judge.

"The generals are answering questions because they are allegedly tied to organised crime," the official said.

Angeles Dauahare said through a lawyer that his detention was unjustified, daily Reforma newspaper reported.

If the generals were convicted of drug trafficking, it would mark the most serious case of military corruption during Calderón's administration.

"Traditionally the armed forces had a side role in the anti-drug fight, eradicating drug crops or stopping drug shipments," said Alejandro Hope, a security analyst who formerly worked in the government intelligence agency.

"After 2006, they were more directly involved in public security, putting them at a higher risk of contact [with drug gangs]," he said.

About 55,000 people have been killed in drug violence over the past five years as rival cartels fight each other and government forces.

Worsening drug-related attacks in major cities are eroding support for Calderón's conservative National Action Party, or PAN, ahead of a 1 July presidential vote.

Over the weekend, police found 49 headless bodies on a highway in northern Mexico, the latest in a recent series of brutal massacres where mutilated corpses have been hung from bridges or shoved in iceboxes.

Opinion polls show Calderón's party is trailing by double digits behind opposition candidate Enrique Peña Nieto from the Institutional Revolutionary Party, or PRI, which says the government's drug strategy is failing.

Traditionally, the military has been seen as less susceptible to cartel bribes and intimidation than badly paid local and state police forces, who are often easily swayed by drug gang pay offs.

But there have been cases of military corruption in the past. Angeles Dauahare himself oversaw the landmark trial of two generals convicted of working with drug gangs in 2002.

Those two generals were convicted of links to the Juárez cartel once headed by the late Amado Carrillo Fuentes, who was known as the Lord of the Skies for flying plane load of cocaine into the United States.

Since then, the Sinaloa cartel - headed by Mexico's most wanted man Joaquín "Shorty" Guzmán - has expanded its power and is locked in a bloody battle over smuggling routes with the Zetas gang, founded by deserters from the Mexican army.

JPMorgan's Trading Loss Is Said to Rise at Least 50%

2012-05-17T07:25:00.001+01:00

The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorgan’s chief executive, announced the losses last Thursday, he indicated they could double within the next few quarters. But that process has been compressed into four trading days as hedge funds and other investors take advantage of JPMorgan’s distress, fueling faster deterioration in the underlying credit market positions held by the bank. A spokeswoman for the bank declined to comment, although Mr. Dimon has said the total paper trading losses will be volatile depending on day-to-day market fluctuations. The Federal Reserve is examining the scope of the growing losses and the original bet, along with whether JPMorgan’s chief investment office took risks that were inappropriate for a federally insured depository institution, according to several people with knowledge of the examination. They spoke on the condition of anonymity because the investigation is still under way. The overall health of the bank remains strong, even with the additional losses, and JPMorgan has been able to increase its stock dividend faster than its rivals because of stronger earnings and a more solid capital buffer. Still, the huge trading losses rocked Wall Street and reignited the debate over how tightly giant financial institutions should be regulated. Bank analysts say that while the bank’s stability is not threatened, if the losses continue to mount, the outlook for the bank’s dividend will grow uncertain. The bank’s leadership has discussed the impact of the losses on future earnings, although a dividend cut remains highly unlikely for now. In March, the company raised the quarterly dividend by 5 cents, to 30 cents, which will cost the bank about $190 million more this quarter. A spokeswoman for the bank said a dividend cut has not been discussed internally. At the bank’s annual meeting in Tampa, Fla., on Tuesday, Mr. Dimon did not definitively rule out cutting the dividend, although he said that he “hoped” it would not be cut. John Lackey, a shareholder from Richmond, Va., who attended the meeting precisely to ask about the dividend, was not reassured. “That wasn’t a very clear answer,” he said of Mr. Dimon’s response. “I expect that shareholders are going to suffer because of this.” Analysts expect the bank to earn $4 billion in the second quarter, factoring in the original estimated loss of $2 billion. Even if the additional trading losses were to double, the bank could still earn a profit of $2 billion. And many analysts and investors remain optimistic about the bank’s long-term prospects. Glenn Schorr, a widely followed analyst with Nomura, reiterated on Wednesday his buy rating on JPMorgan shares, which are down more than 10 percent since the trading loss became public last week. What’s more, the chief investment office earned more than $5 billion in the last three years, which leaves it ahead over all, even given the added red ink. But the underlying problem is that while these sharp swings are expected at a big hedge fund, they should not be occurring at a bank whose deposits are government-backed and which has access to ultralow cost capital from the Federal Reserve, experts said. “JPMorgan Chase has a big hedge fund inside a commercial bank,” said Mark Williams, a professor of finance at Boston University, who also served as a Federal Reserve bank examiner. “They should be taking in deposits and making loans, not taking large speculative bets.” Not long after Mr. Dimon’s announcement of a dividend increase in March, the notorious bet by JPMorgan’s chief investment office began to fall apart. Traders at the unit’s London desk and elsewhere are now frantically trying to defuse the huge bet that was built up over years, but started generating erratic returns in late March. After a brief pause, the losses began to mount again in late April, prompting Mr. Dimon’s announcement on May 10. Beginning on Friday, the same trends that had been causing the losses for six weeks accelerated, since traders on the opposite side of the bet knew the bank was under pressure to unwind the losing trade and could not double down in any way. Another issue is that the trader who executed the complex wager, Bruno Iksil, is no longer on the trading desk. Nicknamed the London Whale, Mr. Iksil had a firm grasp on the trade — knowledge that is hard to replace, even though his anticipated departure is seen as sign of the bank’s taking responsibility for the debacle. “They were caught short,” said one experienced credit trader who spoke on the condition of anonymity because the situation is still fluid. The market player, who does not stand to gain from JPMorgan’s losses and is not involved in the trade, added, “this is a very hard trade to get out of because it’s so big.” He estimated that the initial loss of just over $2 billion was caused by a move of a quarter percentage point, or 25 basis points, on a portfolio with a notional value of $150 billion to $200 billion — in other words, the total value of the contracts traded, not JPMorgan’s exposure. In the four trading days since Mr. Dimon’s disclosure, the market has moved at least 15 to 20 basis points more against JPMorgan, he said. The overall losses are not directly proportional to the move in basis points because of the complexity of the trade. Many of the positions are highly illiquid, making them difficult to value for regulators and the bank itself. In its simplest form, traders said, the complex position assembled by the bank included a bullish bet on an index of investment-grade corporate debt, later paired with a bearish bet on high-yield securities, achieved by selling insurance contracts known as credit-default swaps. A big move in the interest rate spread between the investment grade securities and risk-free government bonds in recent months hurt the first part of the bet, and was not offset by equally large moves in the price of the insurance on the high yield bonds. As the credit yield curve steepened, the losses piled up on the corporate grade index, overwhelming gains elsewhere on the trades. Making matters worse, there was a mismatch between the expiration of different instruments within the trade, increasing losses. The additional losses represent a worsening of what is already the most embarrassing misstep for JPMorgan since Mr. Dimon became chief executive in 2005. No one has blamed Mr. Dimon for the trade, which was under the oversight of the head of the chief investment office, Ina Drew, but he has repeatedly apologized, calling it “stupid” and “sloppy.” Ms. Drew resigned Monday and more departures are anticipated.

Rebbeca Brooks learned this morning that she will be taken to court over accusations of perverting the course of justice in relation to the phone hacking scandal.

2012-05-15T10:24:00.001+01:00

The former editor of the News of the World and the Sun is to be charged with five others, including her husband Charlie Brooks.

Alison Levitt QC, principal legal adviser to the Director of Public Prosecutions, announced the decision at 10am, days after Mrs Brooks appeared at the Leveson inquiry into press ethics.

Mr and Mrs Brooks said: "We deplore this weak and unjust decision. After the further unprecedented posturing of the CPS we will respond later today after our return from the police station."

^{Rebekah Brooks arriving at the Leveson Inquiry}

Greek far-right parties could end up with as much as 20 percent of the vote in Sunday's elections. The neo-Nazi Golden Dawn party has intensified the xenophobic atmosphere in the country.

2012-05-04T09:46:00.001+01:00

At night, the streets leading to Omonoia Square are empty. That wasn't always the case. The area was the premier multicultural neighborhood of Athens and one of the first quarters to be gentrified. Jazz bars and Indian restaurants lined the streets, separated by the occasional rooms-by-the-hour hotel. It was a quarter full of immigrants, drug addicts and African prostitutes, but also of journalists, ambitious young artists and teenagers from private schools. Today, the immigrants stay home once night falls. They are afraid of groups belonging to the "angry citizens," a kind of militia that beats up foreigners and claims to help the elderly withdraw money from cash machines without being robbed. Such groups are the product of an initiative started by the neo-Nazi Chrysi Avgi -- Golden Dawn -- the party which has perpetrated pogroms in Agios Panteleimon, another Athens neighborhood with a large immigrant population. There are now three outwardly xenophobic parties in Greece. According to recent surveys, together they could garner up to 20 percent of the vote in elections on Sunday: the anti-Semitic party LAOS stands to win 4 percent; the nationalist party Independent Greeks -- a splinter group of the conservative Nea Dimokratia party -- is forecast to win 11 percent; and the right extremists of Golden Dawn could end up with between 5 and 7 percent. My name is Xenia, the hospitable. Greece itself should really be called Xenia: Tourism, emigration and immigration are important elements of our history. But hospitality is no longer a priority in our country, a fact which the ugly presence of Golden Dawn makes clear. A Personal Attack Shaved heads, military uniforms, Nazi chants, Hitler greetings: How should a Greek journalist deal with such people? Should one just ignore them and leave them unmentioned? Should one denounce them and demand that they be banned? One shouldn't forget that they are violent and have perpetrated several attacks against foreigners and leftists. I thought long and hard about how to write about Golden Dawn so that my article was in no way beneficial to the party. On April 12, the daily Kathimerini ran my story under the headline "Banality of Evil." In the piece, I carefully explained why it was impossible to carry on a dialogue with such people and why I thought the neo-Nazi party should disappear from media coverage and be banned. Five days later, an anonymous reply to my article appeared on the Golden Dawn website. It was a 2,500-word-long personal attack in which the fascists recounted my entire career, mocked my alleged foreign roots (I was born in Hamburg) and even, for no apparent reason, mentioned my 13-year-old daughter. The unnamed authors indirectly threatened me as well: "To put it in the mother tongue of foreign Xenia: 'Kommt Zeit, kommt Rat, kommt Attentat!'" In other words, watch your back. Most Greeks believe that Golden Dawn has connections to both the police and to the country's secret service. Nevertheless, I went to the authorities to ask what I should do. I was told that I should be careful. They told me that party thugs could harass me, beat me or terrorize me over the phone. It would be better, they said, if I stopped writing about them. If I wished to react to the threats, they suggested I file a complaint against Golden Dawn's service provider. That, however, would be difficult given that the domain is based somewhere in the United States. Like Weimar Germany A friend told me that I should avoid wearing headphones on the street so that I can hear what is going on around me. My daughter now has nightmares about being confronted by members of Golden Dawn. Three of her classmates belong to the party. The three boys have posted pictures of party events on their Facebook pages. For their profile image, they have chosen the ancient Greek Meandros symbol, which, in the red-on-black manifestation used by Golden Dawn, resembles a swastika. The group's slogans include "Foreigners Out!" and "The Garbage Should Leave the Country!" The fact that immigration has become such an issue in the worst year of the ongoing economic crisis in the country can be blamed on the two parties in government. The Socialist PASOK and the conservative Nea Dimokratia (New Democracy, or ND) are running xenophobic campaigns. ND has said it intends to repeal a law which grants Greek citizenship to children born in Greece to immigrant parents. And cabinet member Michalis Chrysochoidis, of PASOK, has announced "clean up operations" whereby illegal immigrants are to be rounded up in encampments and then deported. When he recently took a stroll through the center of Athens to collect accolades for his commitment to the cause, some called out to him: "Golden Dawn has cleaned up Athens!" Yet, Chrysochoidis is the best loved PASOK politician in his Athens district, in part because of his xenophobic sentiments. His party comrade, Health Minister Andreas Loverdos, is just as popular. Loverdos has warned Greek men not to sleep with foreign prostitutes for fear of contracting HIV and thus endangering the Greek family. High unemployment of roughly 22 percent, a lack of hope, a tendency toward violence and the search for scapegoats: Analyses in the Greek press compare today's Greece with Germany at the end of the Weimar Republic. "We didn't know," said many Germans when confronted with the truth of the Holocaust after Nazi rule came to an end. After elections on May 6, no Greeks should be able to make the same claim.

Locked Up Abroad is different.

2012-05-04T05:56:00.001+01:00

Reality TV is, at its core, about letting viewers revel in the bad decision-making of others: those who speak without thinking, who backstab, who have sex without condoms, who cheat. Frustratingly, though, reality shows—to which I am unapologetically addicted—tend to reward bad behavior, by giving its villains notoriety, spinoffs, opportunities to endorse weight-loss products, a nice sideline in paid interviews with supermarket tabloids, and other D-list rewards.

Locked Up Abroad is different. The National Geographic show, the sixth season of which premiered last week, gives its stars something they wouldn’t get on other reality shows: their comeuppance.

Having debuted in the U.K. (under the title Banged Up Abroad), Locked Up Abroad showcases one person (sometimes a couple) who ends up in prison overseas. Participants fit into one of two categories. The first group are the (largely) innocent: the married missionary couple who were kidnapped in the Philippines by the Islamist group Abu Sayyaf, for instance, or the seemingly goodhearted duo who wanted to help children in Chechnya, but ended up held hostage. These tales of the altruistic and naive can be difficult to watch.

But then there are those who rather deserve what happens to them. Typically these are drug smugglers, and their episodes follow a familiar arc. A young person—they’re almost always young—is bored or in need of cash (usually both). She is desperate or feels invincible (usually both). Someone approaches her and offers a seemingly great deal: an all-expenses-paid, luxurious overseas trip in exchange for a small favor. Sometimes the would-be employer is upfront and admits he needs a drug mule, but downplays the risk; other times, he hints at harmless-sounding illegalities, like bringing back legal goods to beat the export tax. In a few cases, the cover story is painfully thin: Come with me to check out this cool new nail polish technology only available in Thailand, for example. (That woman was in a vulnerable place: She had just been released on bail after killing her partner’s former husband—in self-defense, she claimed.)

The drug smugglers are caught, of course, usually at the airport, and brought to prison. And while a few episodes have taken place in developed countries—Spain, Japan, South Korea—the majority of our anti-heroes end up incarcerated in places with some of the dirtiest and most dangerous penitentiaries in the world.

Take last week’s episode, “From Hollywood to Hell.” (And pardon my spoilers, but this installment is too good not to describe in detail.) In 2001, actor Erik Aude was living the marginal Hollywood dream. An ür-bro, he had played bit parts in Dude, Where’s My Car?(credited as “Musclehead”) and 7^th Heaven (“Boyfriend”) when a gym buddy asked him to go to Turkey to bring back “leather goods.” Aude makes the trip, and though a drug-sniffing dog alerts authorities at the Turkish airport, they find nothing—so Aude feels sure the whole thing is legit. He even recommends that one of his brothers start couriering for his friend. Then, when his brother backs out of a planned trip to Pakistan in 2002, Aude steps in, and shit gets real.

It is difficult to feel sorry for Aude. After his escort dumps him in an Islamabad hotel and warns him not to leave because the area is unsafe for Americans, he doesn’t head to the embassy or the airport. Instead, he goes jogging—and even tries to flirt with girls in headscarves on the street (with disastrous results). And when he is taken to the airport with just one suitcase, he is (he claims) not the least bit suspicious that he might be a drug mule. When a customs official asks him whether his trip was for business or pleasure, he cheeses, “Pleasure is my business.”

Aude’s episode is mind-bogglingly watchable, not least because he—of course!—plays himself in the re-enactment. In his telling, he was a virtual action star: On at least three occasions, he single-handedly fights back dozens of Pakistanis. After he takes out a prison bully, he is hailed a hero. He rejects a reduced sentence because it would require him to plead guilty—and his pride is more valuable than his freedom, he says.

Aside from those truly in the wrong place at the wrong time, the most sympathetic characters of Locked Up Abroad may be the embassy employees called in to assist the suspected smugglers. Inevitably, Locked Up Abroad participants are horrified that the embassies of their homelands—usually English-speaking countries like the U.S., the U.K., or Australia—can’t do more for them. I can just imagine U.S. Embassy workers calling “not it” every time they get word from local authorities about some young American knucklehead who thought he could sneak past security with a bag full of cocaine.

Tonight’s episode is called “The Juggler Smuggler,” and its “hero” is Mark Greening, a “party-loving” drug-runner who knows his latest trip is “doomed” when he doesn’t get his fortune told by “his favorite Gypsy woman.” I can’t wait.

Low fare airline bmibaby to close

2012-05-04T05:44:00.001+01:00

Low fare carrier bmibaby is set to close later this year, threatening the loss of hundreds of jobs and the ending of its flights. The carrier transferred to International Airlines Group, the owners of British Airways, last month, but consultations have now started with unions about its closure in September. The GMB union said it was "devastating" news, especially for the East Midlands, where hundreds of jobs are now threatened with the axe. With bmi Regional, bmibaby transferred to International Airlines Group ownership on completion of the purchase from Lufthansa. IAG has consistently said that bmibaby and bmi Regional are not part of its long-term plans. A statement said: "Progress has been made with a potential buyer for bmi Regional, but so far this has not been possible for bmibaby, despite attempts over many months by both Lufthansa and IAG. Bmibaby has therefore started consultation to look at future options including, subject to that consultation, a proposal to close in September this year." Peter Simpson, bmi interim managing director, said: "We recognise that these are unsettling times for bmibaby employees, who have worked tirelessly during a long period of uncertainty. Bmibaby has delivered high levels of operational performance and customer service, but has continued to struggle financially, losing more than £100 million in the last four years. In the consultation process, we will need to be realistic about our options. "To help stem losses as quickly as possible and as a preliminary measure, we will be making reductions to bmibaby's flying programme from June. We sincerely apologise to all customers affected and will be providing full refunds and doing all we can with other airlines to mitigate the impact of these changes." Jim McAuslan, general secretary of the pilots' union Balpa, said: "This is bad news for jobs. Bmibaby pilots are disappointed and frustrated that, even though there appears to be potential buyers, we are prevented from speaking with them to explore how we can contribute to developing a successful business plan. "The frustration has now turned to anger following the news that Flybe (which is part owned by BA) has moved onto many of these bmibaby routes without any opportunity for staff to look at options and alternatives. Balpa's priority is to protect jobs; and we will use whatever means we can to do so." The changes mean that all bmibaby flights to and from Belfast will cease from June 11, although this will not affect bmi mainline's services to London Heathrow. Bmibaby services from East Midlands to Amsterdam, Paris, Geneva, Nice, Edinburgh, Glasgow and Newquay, and from Birmingham to Knock and Amsterdam, will end on the same date.

Gas canister man storms office

2012-04-27T15:07:00.001+01:00

One of the country's busiest shopping streets has been closed as a man wearing gas canisters stormed into an office and threatened to blow himself up, it was reported. Tottenham Court Road in central London was closed after police received emergency calls at midday. Scotland Yard sent a hostage negotiator to the scene amid reports the man had held people hostage inside the building several floors up. Pictures emerged of computer and office equipment being thrown through one of the office windows. A police spokesman said it was "too early to say if the suspect was armed or indeed had taken any hostages" but businesses and nearby buildings were evacuated. Joaqam Ramus, who works at nearby Cafe Fresco, said before being evacuated: "There was talk of a bomb and somebody having a hostage in a building. "All Tottenham Court Road is closed and so are we - the police told us to shut. "We don't know what it is but it seems someone has a hostage."

Credit card fraud websites shut down on three continents

2012-04-26T16:42:00.001+01:00

Three men have been arrested and 36 criminal websites selling credit card information and other personal data shut down as part of a two-year international anti-fraud operation, police have confirmed. The Serious Organised Crime Agency (SOCA), working with the FBI and US Department of Justice, as well as authorities in Germany; the Netherlands; Ukraine; Australia and Romania, swooped after identifying the sites as specialising in selling card and bank details in bulk. The move comes as a blow to what is a growing black market for stolen financial data. Detectives estimated that the card information seized could have been used to extract more than £500m in total by fraudsters. SOCA claimed it has recovered more than two and a half million items of compromised personal and financial information over the past two years. “The authorities have shut down 36 websites but it is difficult to know how many other people had access to that data. They could spring back up somewhere else if a gang is not eradicated completely,” said Graham Cluley of internet security firm Sophos. He added: “This is big business and, just as in any legitimate company there are people who specialise in different things, so there are those who actually get their hands on the personal data and those who sell it on; they are not often the same person.” An investigation by The Independent last summer found that scammers were making a “comfortable living” getting their hands on sensitive information and selling it online. Card details were being offered for sale for between 4p and £60 per card – depending on the quality – according to one source in the business. Some cards would be sold with incomplete or unreliable information; others ready to use. Some of the card details for sale on the websites shut down by SOCA were being sold for as little as £2 each. Investigators said that the alleged fraudsters were using Automated Vending Carts, which allowed them to sell large quantities of stolen data. They are said to be a driver of the growth in banking fraud over the last 18 months because of the speed with which stolen data can be sold. Lee Miles, Head of Cyber Operations for SOCA said: “This operation is an excellent example of the level of international cooperation being focused on tackling online fraud. Our activities have saved business, online retailers and financial institutions potential fraud losses estimated at more than half a billion pounds, and at the same time protected thousands of individuals from the distress caused by being a victim of fraud or identity crime.” An alleged operator in Macedonia was one of those arrested, while two British men accused of buying the information were also detained. Britain’s Dedicated Cheque & Plastic Crime Unit also seized computers suspected of being used to commit fraud.

exploding the common myths about which foods are good for us

2012-04-24T05:02:00.001+01:00

Myth: Salt in your diet causes high blood pressure

In the 1940s, Walter Kempner, a researcher at Duke University, North Carolina, became famous for using salt restriction to treat people with high blood pressure. Later, studies confirmed that reducing salt could help reduce hypertension. But you don't have to avoid salt entirely, says Sara Stanner, of the Nutrition Society. "Adults need a small amount of sodium in their diet to maintain the body's fluid balance."

Average salt intakes have come down in recent years, mainly due to product reformulation. But it's still the case that many of us consume too much salt – around 9g a day instead of the maximum recommended dose of 6g per day – around 75 per cent of which is in processed foods such as soups, sauces, sandwiches and processed meat.

"People often think it's really bad to add salt into cooking or on to your plate, but that forms no more than 10 per cent of your total intake," says Stanner. "So you can get people who never have salt at their table, but have a very high salt intake, while others put salt on most meals, but have a lower intake."

Myth: Carbohydrates are bad for you

"Carbohydrate-rich foods are an ideal source of energy. They can also provide a lot of fibre and nutrients," says Sara Stanner. "Potatoes, for instance, are one of the best sources of vitamin C, yet potato consumption in the UK has fallen considerably."

One of the main reasons carbohydrates have fallen out of favour is that they are perceived to be fattening. "Foods high in carbohydrates have had a rough time in the past few years, thanks to the success of low-carb diets, such as the Atkins diet," explains Juliette Kellow.

"But there's no proof that carb-rich foods are more likely to make us gain weight than any other food. Ultimately, it's an excess of calories that makes us pile on the pounds – and it really doesn't matter where those extra calories come from. More often than not, it's the fat we add to carbs that boosts the calorie content, such as butter on toast, creamy sauces with pasta and frying potatoes to make chips."

Myth: Dairy products are fattening and unhealthy

In a study by the Curtin University of Technology in Perth, Australia, slimmers on low- calorie diets which included cheese, yoghurt and milk lost more weight than those on low-dairy diets. Those on the diet including dairy also had the least stomach fat, lower blood pressure and a significantly better chance of avoiding heart disease and diabetes.

Dairy products are packed with essential nutrients that help keep us healthy, says Juliette Kellow. "As well as being good sources of protein, zinc and some B vitamins, dairy products are packed with calcium, a mineral that helps to build strong, healthy bones – and the stronger the bones are, the less likely you'll be to suffer from osteoporosis in later life."

There are loads of low-fat versions of dairy, such as skimmed or semi-skimmed milk, low-fat yoghurts and reduced-fat cheeses, she says – and low-fat versions don't mean less calcium. "Skimmed and semi-skimmed milk actually contain slightly more calcium than full-fat milk."

Myth: Red meat is bad for you

Publishing what it called "the most authoritative ever report of bowel cancer risk" last year, the World Cancer Research Fund recommended that people limit their intake of red meat to 500g a week, or just over a pound in weight. The net result of such studies is always the same – people panic.

But 500g is roughly the equivalent of five or six medium portions of roast beef, lamb or pork. "Red meat is a valuable source of minerals and vitamins, particularly iron, and we know that large numbers of women have such low intakes of this nutrient that they're at risk of anaemia. There's no need for people to think, 'I should be eating fish' when they have a steak,' provided they eat it in moderation," says Sarah Schenker.

Another myth about red meat is that it's high in fat, says Juliette Kellow, dietitian and advisor to Weight Loss Resources. "Thanks to modern breeding programmes and new trimming techniques, red meat is now leaner than ever.

Processed meat of all kinds, however, should be avoided.

Myth: Fresh is always better than frozen

Frozen fruit and vegetables can be more healthy than fresh. "Research shows that freezing vegetables such as peas as soon as they're picked – when they are at their nutritional peak – means they retain higher levels of vitamins, particularly vitamin C," says Sarah Schenker. "Once frozen, the deterioration process stops, locking in goodness. The fresh variety often travel long distances and sit on grocery shelves and along the way, heat, air, water and time can lead to a significant loss of nutrients."

Frozen or canned fruits and vegetables can also be as nutritious as fresh ones, if not more so. Again, they are often packaged within hours of being picked, retaining their nutritional value. "Always check salt and sugar levels though by comparing labels," says Sarah Schenker, of the British Dietitic Association. Even dried fruit can be healthier than fresh. "When you eat dried fruit you usually eat more than the fresh equivalent – for instance six dried apricots instead of three fresh ones. This is more calorific but you get a bigger amount of nutrients," says Schenker.

Myth: Soy eases menopausal problems

For years, the fact that Asian women have fewer menopausal symptoms has been attributed to high levels of soy in their diet. Soy products such as tofu contain natural plant oestrogens and there have been increasing claims that these might help women going through the menopause whose own oestrogen levels are dwindling.

But a University of Miami study has found that soy does nothing to abate hot flushes and bone-density loss. In fact, the women given soy appeared to experience more hot flushes than those given a placebo.

Experts including Dr Malcolm Whitehead, a menopause expert at King's College Hospital in London, aren't surprised. "In my clinical experience, women say this doesn't work for them," he says, adding that HRT is a safe and effective treatment for most women.

Others point to previous studies showing that soy can work, but the British Dietetic Association's Sarah Schenker, says, "This research has always been weak. People got excited about those early small studies, but the more research that was done, the more doubts appeared."

Myth: Brown bread is better for you than white

A darker loaf of bread does not necessarily mean it's made with whole grains – it could simply contain caramel colouring or such a small amount of whole wheat that its nutritional benefits are no different to white bread. "The real health benefits come from eating wholemeal bread instead of white," says Sarah Schenker.

Wholemeal is made from flour containing all the goodness of wheat grains. The outer husk has not been removed, so the resulting bread is much richer in fibre, protein and vitamins B1, B2, niacin, B6, folic acid and biotin. Brown bread, in contrast, is made from finely milled wheat, from which the bran has been extracted.

Look for the words "whole grain" or "100% whole wheat" on packaging and ensure the first ingredient listed is whole wheat, oats, whole rye, whole grain corn, barley, quinoa, buckwheat or brown rice. Seeded bread is even better, since it contains even more vitamins, minerals and healthy fats.

Myth: Everyone needs a lot of protein

Protein is essential for growth and development, but experts agree that most people eat far too much of it. "The Department of Health recommends that protein should make up around 10-15 per cent of your daily diet – that's around 55g for men and 45g for women," dietitian Azmina Govindji says. "Yet, according to the British Nutrition Foundation, men are probably munching their way through an average of 88g and women around 64g."

So what's fuelling this notion that we need so much? "Some diets, such as the Atkins diet, advocate speedy weight loss on cutting the carbs and piling on the proteins", Govindji says.

Another contributory factor is that in the past, it was believed nobody could eat too much protein. In the early 1900s, people were told to eat well over 100g a day and in the 1950s, health-conscious people were encouraged to boost their protein intake. But high protein can put a strain on liver and kidneys and other bodily systems.

police hunt for Michael Brown's missing millions

2012-04-22T22:11:00.001+01:00

British police are still trying to trace £18m allegedly stolen by the Liberal Democrats' fugitive donor Michael Brown, who is expected to be extradited to Britain within the next 10 days. Brown, 46, was in a holding cell near Madrid airport on Sunday, having been deported from the Dominican Republic, where he had been on the run from UK authorities for three years. Brown, who gave £2.4m to the Liberal Democrats before the 2005 general election, is not expected to challenge a formal move to extradite him to London which has already been set in motion. He was convicted of theft and false accounting in his absence in Britain in 2008 and sentenced to seven years in jail. Detectives are still trying to trace around £18m of Brown's stolen money, which had been moved between his accounts in the US, Britain and Switzerland, the Guardian understands. Brown was estimated to have stolen more than £60m in a number of frauds. Most of his assets have been accounted for in property deals, a Bentley, a yacht and the private jet once used to fly senior Lib Dems across the UK. However, more than £18m has not yet been accounted for. "The file at Interpol on Brown and his associates remains open," a source told the Guardian. Brown's return will be another embarrassing development in the long-running saga over the Lib Dems' biggest single donation. The party has refused to compensate any of Brown's victims, claiming it received the money in good faith and spent it on the 2005 election campaign. Lib Dem leader Nick Clegg welcomed Brown's return to Britain but said on Sunday that the party would not be returning his donation because the Electoral Commission had concluded the money had been received in good faith. The deputy prime minister, who pointed out that the donation was made before he was elected to Westminster, told BBC1's Sunday Politics: "I'm very pleased he's coming back to serve his sentence. This is a convicted fraudster. "I should stress that this is something which happened as far as the Liberal Democrats are concerned before I was even an MP, yet alone leader of the Liberal Democrats. What I've been told is that the Electoral Commission in 2009 looked at this exhaustively – as far as the receipt of that money by the Liberal Democrats from one of his companies. They categorically concluded that the money was received in good faith and all the controls, all the checks that should have been made were reasonably made by the Liberal Democrats at the time. If we'd been shown wanting on those accounts then of course we should pay the money back." But Brown's return will increase focus on the Electoral Commission inquiry into Brown's donations. The inquiry failed to call the Lib Dems' former treasurer, Reg Clark, who resigned over Brown in 2005 and warned advisers to the former Lib Dem leader Charles Kennedy that Brown should be treated with extreme caution. One of Brown's victims said the Lib Dems should return the money. Tony Brown, managing partner at law firm Bivonas which represents US attorney Robert Mann who lost more than $5m (£3m), said Brown may be asked to give evidence as part of his client's claim against the Lib Dems. "The Lib Dems have refused to repay this money to our client even though they know that this is the proceeds of crime. The Electoral Commission has failed to investigate this properly in our view. So now that Brown is returning to the jurisdiction, we can investigate again and establish the basis on which the Lib Dems received this money." Brown is expected to appear before a Spanish court to confirm his name and will then appear before an extradition hearing within 10 days. City of London police, who first uncovered Brown's fraud, confirmed his deportation. Detective Superintendent Bob Wishart said: "We hope that him facing justice will bring some closure to the victims who suffered as a result of his frauds." A close friend of Brown's told the Guardian on Sunday that he had arrived in Spain on Saturday after "volunteering" for deportation from the Dominican Republic, where he has been hiding for three years under the name of Darren Nally. "He asked to return to Britain. He is going home to face the music," the friend said. Brown appeared to come from nowhere when the party was paid £2.4m in the runup to the 2005 election from his company 5th Avenue Partners. A fast-talking and brash Glaswegian, he had walked into the party's then headquarters in Cowley Street and offered it money. He was not registered to vote, had no interest in politics and had never been a party member, but said he was giving the money to create an even playing field. Brown wined and dined with Charles Kennedy and other party grandees, and used his private jet to fly Kennedy across the country during the election campaign. Former Lib Dem insiders say he dazzled them with stories of Gordonstoun public school, St Andrews University and his connections with royalty and the US government. The truth was that he had attended his local school and completed a City and Guilds in catering at Glasgow College of Food Technology. He had no US government links – although he was wanted in Florida for cheque fraud. He was arrested in late 2005 after four former clients said he had duped them out of more than £40m in a high-yield fraud. His victims included Martin Edwards, the former Manchester United chairman, who had invested £8m with 5th Avenue Partners. The court would later be told that 5th Avenue Partners was wholly fraudulent and Brown had given money to the Lib Dems to give himself an air of respectability while duping his victims. The party had been used as part of his cover story, a judge said. In June 2008, while awaiting trial, Brown fled and a warrant was issued for his arrest. In the weeks before he disappeared, from his Hampstead bail address in north London, he changed his name on the electoral roll to Campbell-Brown and allowed his hair to turn grey. He travelled to the Dominican Republic where he enjoyed a millionaire's lifestyle while on the run. He lived in gated communities yards from some of the most pristine beaches in the Caribbean, drove a series of 4x4 vehicles and was a regular at exclusive golf courses. In Punta Cana, an exclusive resort on the eastern tip of the island, he could often be seen walking his dog – named Charles, after the former Lib Dem leader. He was arrested in Punta Cana in January on unrelated fraud allegations.

Donaldson enjoyed a lavish lifestyle in Marbella and Tenerife, trafficking accused found hiding in loft with £70k in cash

2012-04-22T11:54:00.001+01:00

A SUSPECTED drug trafficker was found by police hiding in a farmhouse loft in Scotland with a bag stuffed with £70,000, a Spanish court was told last week. Ian Donaldson, 32, is accused of helping fund an international drugs ring smuggling cocaine and speed from Spain to Scotland The former amateur racing driver – who drove a Lamborghini with the distinctive Lambo 88 plate – was tracked down to the farm by officers from the Scottish Crime and Drugs Enforcement Agency. Donaldson – who enjoyed a lavish lifestyle in Marbella and Tenerife– is one of six Brits facing court in Madrid accused of making millions from the drugs trade. Detective Inspector James Wallace of the SCDEA told the court: “I arrested him on February 27, 2009. He was hiding in a loft area in a farm building. We also found £70,000 hidden in a bag.” Eight SCDEA detectives gave evidence to the National Court in the Spanish capital last week via a video link from Edinburgh. The court heard Scottish police mounted a surveillance operation after Donaldson, from Renton, Dunbartonshire, was released on bail. Detectives watched him in a series of meetings in Glasgow and Hamilton in April 2009, as he tried to hide the origins of his fortune, prosecutors allege. Donaldson met with fellow accused Mary Hendry and Joseph Campbell and was observed discussing large sums of money and swapping paperwork for a nightclub in Gran Canaria. It was alleged they were secretly plotting to make it look like Donaldson had made some of his wealth from the club. Meetings took place at supermarkets in Glasgow and Hamilton and the Mitchell Library in Glasgow. DI Wallace told the court: “We saw he (Donaldson) was creating a defence for the Spanish charges. “I believe they (Hendry and Campbell) were both subservient to Donaldson, who instructed them on what to do.” The detective said Donaldson and his company IRD Services were also investigated for money- laundering in Scotland. He added: “There is evidence he purchased seven vehicles in Scotland, worth up to £900,000, between 2006 and 2008.” Mary Hendry told the court she only met Donaldson twice for legitimate business meetings. She said: “Joseph Campbell introduced me to Ian Donaldson because I was trying to sell my restaurant. “I met him the next day and he said he was not interested. I never saw him again.” It is alleged Donaldson was the money man for a gang of drug smugglers based in Tenerife and Marbella, led by Glaswegian Ronald O’Dea, 45. The gang are alleged to have spent millions on luxury villas, fast cars and yachts. In October 2008, police seized a a haul of amphetamines worth £660,000 heading to Scotland after stopping a lorry in Oxfordshire. Donaldson, Hendry and O’Dea share the dock in Madrid with fellow Scot James MacDonald, 62, and Londoners Steve Brown, 45, and Deborah Learmouth, 49. The gang face charges ranging from drug-trafficking to money-laundering. They deny all charges. Two other defendants – Brian Rawlings and Joseph Campbell – failed to show up at the trial. The judges will give their verdict at a later date.

Wayne Rooney launches phone-hacking claim

2012-04-21T13:26:00.001+01:00

Wayne Rooney and England rugby union World Cup winner Matt Dawson are among the new wave of high-profile figures suing Rupert Murdoch's News International over alleged News of the World phone hacking. The England and Manchester United football star, his agent Paul Stretford, Dawson, now a BBC rugby commentator and Question of Sport team captain, actor James Nesbitt and Sir John Major's former daughter-in-law, Emma Noble, are among 46 new phone-hacking cases filed at the high court in London. Times Newspapers, the News International subsidiary that publishes the Times and Sunday Times, is also facing its first civil damages claim, from Northern Ireland human rights campaigner Jane Winter, who is also suing NoW publisher, News Group Newspapers. Winter's claim is related to an article in the Sunday Times in August 2006, her solicitor confirmed. A reference to the article was made in a witness statement she submitted to the Leveson inquiry in February. Winter alleged in evidence to the inquiry that her emails to the former British army intelligence officer Ian Hurst were hacked by NoW. A News International spokeswoman said Winter's case would be "defended vigorously". Others who have filed claims in the past few days seeking damages for alleged invasion of privacy from News Group, the News International subsidiary that published the now-closed Sunday tabloid, include former Conservative cabinet minister and chief whip Lord Blencathra and former Fire Brigades Union general secretary Andy Gilchrist. The list of new claimants also features Michelle Bayford, the former girlfriend of the victim of the 2006 so-called "elephant man" drug trial case. Her then boyfriend, Ryan Wilson, spent three weeks in a coma and lost all his toes and parts of his fingers to gangrene. Another claimant, Anne Colvin, was a witness in the Tommy Sheridan perjury trial. At a case management conference at the high court in London , Hugh Tomlinson QC, representing victims of alleged phone hacking, told Mr Justice Vos that he had 44 new cases filed while two others had submitted their claims via another legal representative. The court also heard that law firm Harbottle & Lewis has a number of "sensitive clients" who wish to remain anonymous. It is expected that up to 200 new claims will be filed over the coming months, Tomlinson told the court in a previous hearing. Claims filed in the past week bring the number of new cases against News International to 46. This figure includes earlier claims filed by public figures including Cherie Booth, Alex Best, the former wife of the late footballer George Best, and Colin Stagg, the man wrongly accused of murdering Rachel Nickell. Others who have filed claims include comedian Bobby Davro, actor Tina Hobley's former husband Steve Wallington, TV personalities Jamie Theakston and Jeff Brazier, the former boxer Chris Eubank, and footballers Peter Crouch, Kieron Dyer and Jermaine Jenas. The cases are part of a second wave of civil actions which Vos is managing following the settlement of more than 50 cases earlier this year including claims by Jude Law, Charlotte Church and Lord Prescott. Tomlinson did not disclose the names of the claimants on Friday, but court documents show that new cases submitted to the high court in the past week bring the number of new actions faced by News International to nearly 50, a number that is expected to rise considerably. Tomlinson told the court that News International had received 100 requests for discovery of preliminary disclosure. He said there were 4,791 potential phone-hacking victims, of which 1,892 had been contacted by the police. The police believed 1,174 were "likely victims". Court 30 in the Rolls Building of the high court was packed, with more than 50 law firms acting for victims. Vos said there were 58 firms of solicitors representing only 100 victims, which he told Tomlinson was "unbelievable". The judge added that he wanted to ensure costs are reduced for claimants. "Many of them have seen the light and have instructed lawyers who have specialist knowledge of this case," said Vos. He suggested possible tariffs of costs for each element of the legal action. This would mean fresh claimants could access to information relating to the News of the World's phone-hacking activity already produced on discovery in earlier cases, without incurring the costs associated with a full action. "I will have no sympathy for outrageous cost estimates," he said. "A claimant is entitled to have a solicitor, but what he is not entitled to have is a solicitor who knows nothing about the case and charges the defendant for that."