Jan
22
Obama freezes salaries of some White House aides
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WASHINGTON – President Barack Obama’s first public act in office Wednesday was to institute new limits on lobbyists in his White House and to freeze the salaries of high-paid aides, in a nod to the country’s economic turmoil.
Announcing the moves while attending a ceremony in the Eisenhower Executive Office Building to swear in his staff, Obama said the steps “represent a clean break from business as usual.”
The pay freeze, first reported by The Associated Press, would hold salaries at their current levels for the roughly 100 White House employees who make over $100,000 a year. “Families are tightening their belts, and so should Washington,” said the new president, taking office amid startlingly bad economic times that many fear will grow worse.
Those affected by the freeze include the high-profile jobs of White House chief of staff, national security adviser and press secretary. Other aides who work in relative anonymity also would fit into that cap if Obama follows a structure similar to the one George W. Bush set up.
Obama’s new lobbying rules will not only ban aides from trying to influence the administration when they leave his staff. Those already hired will be banned from working on matters they have previously lobbied on, or to approach agencies that they once targeted.
The rules also ban lobbyists from giving gifts of any size to any member of his administration. It wasn’t immediately clear whether the ban would include the traditional “previous relationships” clause, allowing gifts from friends or associates with which an employee comes in with strong ties.
The new rules also require that anyone who leaves his administration is not allowed to try to influence former friends and colleagues for at least two years. Obama is requiring all staff to attend to an ethics briefing like one he said he attended last week.
Obama called the rules tighter “than under any other administration in history.” They followed pledges during his campaign to be strict about the influence of lobbyist in his White House.
“The new rules on lobbying alone, no matter how tough, are not enough to fix a broken system in Washington,” he said. “That’s why I’m also setting rules that govern not just lobbyists but all those who have been selected to serve in my administration.”
In an attempt to deliver on pledges of a transparent government, Obama said he would change the way the federal government interprets the Freedom of Information Act. He said he was directing agencies that vet requests for information to err on the side of making information public – not to look for reasons to legally withhold it – an alteration to the traditional standard of evaluation.
Just because a government agency has the legal power to keep information private does not mean that it should, Obama said. Reporters and public-interest groups often make use of the law to explore how and why government decisions were made; they are often stymied as agencies claim legal exemptions to the law.
“For a long time now, there’s been too much secrecy in this city,” Obama said.
He said the orders he was issuing Wednesday will not “make government as honest and transparent as it needs to be” nor go as far as he would like.
“But these historic measures do mark the beginning of a new era of openness in our country,” Obama said. “And I will, I hope, do something to make government trustworthy in the eyes of the American people, in the days and weeks, months and years to come.”
Jan
20
Obama takes office, saying choose ‘hope over fear’
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WASHINGTON – Stepping into history, Barack Hussein Obama grasped the reins of power as America’s first black president on Tuesday, saying the nation must choose “hope over fear, unity of purpose over conflict and discord” to overcome the worst economic crisis since the Great Depression.
In frigid temperatures, an exuberant crowd of more than a million packed the National Mall and parade route to celebrate Obama’s inauguration in a high-noon ceremony. They filled the National Mall, stretching from the inaugural platform at the U.S. Capitol to the Lincoln Memorial in the distance.
With 11 million Americans out of work and trillions of dollars lost in the stock market’s tumble, Obama emphasized that his biggest challenge is to repair the tattered economy left behind by outgoing President George W. Bush.
“Our time of standing pat, of protecting narrow interests and putting off unpleasant decisions – that time has surely passed,” Obama said in an undisguised shot at Bush administration policies. “Starting today, we must pick ourselves up, dust ourselves off and begin the work of remaking America.”
The dawn of the new Democratic era – with Obama allies in charge of both houses of Congress – ends eight years of Republican control of the White House by Bush, who leaves Washington as one of the nation’s most unpopular and divisive presidents, the architect of two unfinished wars and the man in charge at a time of economic calamity that swept away many Americans’ jobs, savings and homes.
Obama’s election was cheered around the world as a sign that America will be more embracing, more open to change. “To the Muslim world,” Obama said, “we seek a new way forward, based on mutual interest and mutual respect.”
Still, he bluntly warned, “To those leaders around the globe who seek to sow conflict, or blame their society’s ills on the West – know that your people will judge you on what you can build, not what you destroy.”
“To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history, but that we will extend a hand if you are willing to unclench your fist.”
Two years after beginning his improbable quest as a little-known, first-term Illinois senator with a foreign-sounding name, Obama moved into the Oval Office as the nation’s fourth youngest president, at 47, and the first African-American, a barrier-breaking achievement believed impossible by generations of minorities.
He said it was a moment to recall “that all are equal, all are free and all deserve a chance to pursue their full measure of happiness.”
Obama called for a political truce in Washington to end “the petty grievances and false promises, the recriminations and worn-out dogmas, that for far too long have strangled our politics.”
He said that all Americans have roles in rebuilding the nation by renewing the traditions of hard work, honesty and fair play, tolerance, loyalty and patriotism.
“What is required of us now is a new era of responsibility, a recognition, on the part of every American, that we have duties to ourselves, our nation and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task.”
With the economy in a long and deepening recession, Obama said it was time for swift and bold action to create new jobs and lay a foundation for growth. Congressional Democrats have readied an $825 billion stimulus plan of tax cuts and spending for roads, bridges, schools, electric grids and other projects.
“The question we ask today is not whether our government is too big or too small, but whether it works,” the new president said.
A mighty chorus of cheers erupted as Obama stepped to the inaugural platform, a midday sun warming the crowd that had waited for hours in the cold. There were some boos when Bush and Vice President Dick Cheney came onto the platform.
In his remarks, Obama took stock of the nation’s sobering problems.
“That we are in the midst of crisis is now well understood,” he said.
“Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age,” Obama said. “Homes have been lost, jobs shed, businesses shuttered. Our health care is too costly, our schools fail too many, and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.”
It was the first change of administrations since the terror attacks of Sept. 11, 2001. Crowds filled the Mall for a distant glimpse of the proceedings or just, in the words of many, simply “to be here.” Washington’s subway system was jammed and two downtown stations were closed when a woman was struck by a subway train.
Bush – following tradition – left a note for Obama in the top drawer of his desk in the Oval Office.
White House press secretary Dana Perino said the theme of the message – which Bush wrote on Monday – was similar to what he has said since election night: that Obama is about to begin a “fabulous new chapter” in the United States, and that he wishes him well.
The unfinished business of the Bush administration thrusts an enormous burden onto the new administration, though polls show Americans are confident Obama is on track to succeed. He has cautioned that improvements will take time and that things will get worse before they get better.
Culminating four days of celebration, the nation’s 56th inauguration day began for Obama and Vice President-elect Joe Biden with a traditional morning worship service at St. John’s Episcopal Church, across Lafayette Park from the White House. Bells pealed from the historic church’s tower as Obama and his wife, Michelle, arrived five minutes behind schedule.
The festivities won’t end until well after midnight, with dancing and partying at 10 inaugural balls.
By custom, Obama and his wife, and Biden and his wife, Jill, went directly from church to the White House for coffee with Bush and his wife, Laura. Michelle Obama brought a gift for the outgoing first lady in a white box decorated with a red ribbon.
Shortly before 11 a.m., Obama and Bush climbed into a heavily armored Cadillac limousine to share a ride to the Capitol for the transfer of power, an event flashed around the world in television and radio broadcasts, podcasts and Internet streaming. On Monday, Vice President Dick Cheney pulled a muscle in his back, leaving him in a wheelchair for the inauguration.
Just after noon, Obama stepped forward on the West Front of the Capitol to lay his left hand on the same Bible that President Abraham Lincoln used at his first inauguration in 1861. The 35-word oath of office, administered by Chief Justice John Roberts, has been uttered by every president since George Washington. Obama was one of 22 Democratic senators to vote against Roberts’ confirmation to the Supreme Court in 2005.
The son of a white, Kansas-born mother and a black, Kenya-born father, Obama decided to use his full name in the swearing-in ceremony.
To the dismay of liberals, Obama invited conservative evangelical pastor Rick Warren – an opponent of gay rights – to give the inaugural invocation.
About a dozen members of Obama’s Cabinet and top appointees were ready for Senate confirmation Tuesday, provided no objections were raised. But Republican Sen. John Cornyn of Texas indicated he would block a move to immediately confirm Secretary of State-designate Hillary Rodham Clinton. Still, she is expected to be approved in a roll call vote Wednesday.
More than 10,000 people from all 50 states – including bands and military units – were assembled to follow Obama and Biden from the Capitol on the 1.5-mile inaugural parade route on Pennsylvania Avenue, concluding at a bulletproof reviewing stand in front of the White House. Security was unprecedented. Most bridges into Washington and about 3.5 square miles of downtown were closed.
Among the VIPs at the Capitol was pilot Chesley “Sully” Sullenberger, the hero of last week’s US Airways crash into the Hudson River.
Obama’s inauguration represents a time of renewal and optimism for a nation gripped by fear and anxiety. Stark numbers tell the story of an economic debacle unrivaled since the 1930s:
_Eleven million people have lost their jobs, pushing the unemployment rate to 7.2 percent, a 16-year high.
_One in 10 U.S. homeowners is delinquent on mortgage payments or in arrears.
_The Dow Jones industrial average fell by 33.8 percent in 2008, the worst decline since 1931, and stocks lost $10 trillion in value between October 2007 and November 2008.
Obama and congressional Democrats are working on an $825 billion economic recovery bill that would provide an enormous infusion of public spending and tax cuts. Obama also will have at his disposal the remaining $350 billion in the federal financial bailout fund. His goal is to save or create 3 million jobs and put banks back in the job of lending to customers.
In an appeal for bipartisanship, Obama honored defeated Republican presidential rival John McCain at a dinner Monday night. “There are few Americans who understand this need for common purpose and common effort better than John McCain,” Obama said.
Young and untested, Obama is a man of enormous confidence and electrifying oratorical skills. Hopes for Obama are extremely high, suggesting that Americans are willing to give him a long honeymoon to strengthen the economy and lift the financial gloom.
On Wednesday, his first working day in office, Obama is expected to redeem his campaign promise to begin the withdrawal of U.S. forces from Iraq under a 16-month timetable. Aides said he would summon the Joint Chiefs of Staff to the Oval Office and order that the pullout commence.
Apr
24
Banks braced for charges defeat
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The UK’s biggest banks are bracing themselves for defeat in the High Court test case about overdraft charges.Mr Justice Andrew Smith will hand down his judgement later on whether or not the Office of Fair Trading (OFT) can rule that bank charges are unfair.
If the OFT wins, it is then expected to decide that bank charges are too high.
Since the beginning of 2006 hundreds of thousands of bank customers have tried to reclaim their charges on the grounds that they were too high and unfair.
Test case
Both the banks and the courts were deluged with claims which they were finding very difficult to deal with.
But since both sides agreed to stage the test case, tens of thousands of claims have been put on hold in either the county courts or with the Financial Ombudsman Service (FOS).
It is important to note that the test case will not decide whether overdraft charges are fair or not
Consumers’ association, Which?
Q&A: Bank charges
Analysis: Test case
Why I took my bank to court
“A decision in favour of customers would be massively significant,” said Marc Gander of the Consumer Action Group.
“Public confidence in the banking system is at an all-time low,” he added.
The BBC has estimated that last year the banks refunded about £784m to nearly 378,000 customers.
‘Snowballing situation’
Paul Tilley, a law student from Southampton, was one of those customers.
He says he won back £4,000 including interest after his bank imposed charges for exceeding his overdraft limit.
He has an outstanding claim with another bank and hopes the test case will force banks to change their behaviour.
“Looking at my statements from the time, they were taking up to £180 a month off me in charges, it then left me short for paying my bills.”
“As a result my payments bounced, I then went over my overdraft again.”
“It was a snowballing situation.”
Outcomes
The OFT first agreed last July, with seven banks and the Nationwide building society, to stage the test case to decide if it had the power under consumer contract regulations to regulate overdraft charges.
The issue of the OFT’s jurisdiction was then thrashed out during 14 days of complicated High Court hearings in January and February.
The consumers association Which? said there would be three possible outcomes to Thursday’s judgement.
An outright win for the OFT. The court could rule that all terms and conditions for all the test case banks over the last 6 years can be assessed for fairness.
An outright win for the banks. The court could rule that none of the terms and conditions used by any of the test case banks over the last 6 years can be assessed for fairness.
Something in between. The court might decide that some terms and conditions are subject to fairness assessment, while others are not.
“It is important to note that the test case will not decide whether overdraft charges are fair or not,” said Which?
Further hearings?
Further High Court hearings after Thursday’s judgement to decide the exact level of charges, could lead to further delays for hundreds of thousands of claimants.
One senior banker involved in the proceedings told the BBC: “We are preparing for every possibility.”
But he argued that an initial defeat on the issue of the OFT’s jurisdiction would simply lead to a second round of cases on the precise nature of the “fairness”, or otherwise, of bank charges.
And that would be separate from any possible appeal hearing against the first judgement.
Describing subsequent hearings as “substantial” and likely to go on into next year, he said “we have agreed to act with all speed”.
Free banking
As well as deciding the narrow legal issue of jurisdiction, Mr Justice Andrew Smith and the various parties to the hearing will have important consequential issues to decide.
Will his ruling affect the banks’ historic terms and conditions as well as their current ones?
What guidance should be given to county court judges and the Financial Ombudsman Service about the backlog of cases that have been kept on hold?
Should the Financial Services Authority lift its “waiver” which has let banks keep new claims on hold?
At stake is not only the ability of aggrieved customers to reclaim their charges but also the ability of the banks to generate an estimated £3.5bn a year in profits from levying them.
If the banks eventually suffer a complete defeat on the issue, then it has been widely predicted that they will try to recoup their losses by abandoning the long standing policy of so-called “free banking” for customers in credit.
Instead, monthly or annual charges could be introduced as standard for running an ordinary current account
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Apr
24
Police quiz men over second body
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Police are continuing to question two men on suspicion of murdering a severely disabled 22-year-old man.
Missing James Hughes’ mother Heather Wardle was found with a ligature around her neck at the base of a tree in undergrowth near her home on Monday.
The men were arrested after a body was found at a house in Redditch, Worcestershire, on Wednesday.
A police cordon has been put up around part of Loxley Close, Church Hill – near to Ms Wardle’s home.
A white tent has also been erected by police in the back garden of one of the houses.
A white tent has been erected outside one of the houses
The two arrested men are being questioned at police stations in Kidderminster and Redditch, West Mercia Police said.
Police said a post-mortem examination was being carried out to establish the cause of death.
Detectives had been trying to establish the last sighting of Mr Hughes, who had a mental age of 18 months and needed 24-hour care.
They believe his 39-year-old mother died within 24 hours of going missing on Friday evening, when she had said she was going to visit a friend but never arrived.
Ms Wardle’s partner, Brian Kirby, paid tribute to her as a “brilliant mother” who doted on her children.
He said he was “devastated” to learn of her death and described her as a chatty, bubbly person who was full of character and got on well with neighbours and his family.
He said she was a brilliant mother to Mr Hughes and her other children, Daniel, 17, Callum, eight and six-year-old Luke
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Apr
24
Strike disrupting 8,000 schools
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The first national teachers’ strike for two decades is set to disrupt a third of schools in England and Wales.
A survey of 140 local authorities shows that at least 8,000 schools will be closed or partially closed.
Rallies will be held by the National Union of Teachers around the country, as members demand a 4.1% pay increase rather than the 2.45% on offer.
Schools Minister Jim Knight says parents will be “frustrated and inconvenienced” by the strike.
This one-day strike is the opening move in what the teachers’ union says will be a long-term campaign over pay.
Widespread disruption
Local authorities have been warning parents about disruption – and a survey of eight out of 10 councils showed that 33% of schools are expected to be affected. This could mean lost lessons in schools teaching more than 2.5 million pupils.
TEACHERS’ PAY
£20,133 – starting salary (England and Wales)
£34,281 – most experienced teachers’ salary (outside London)
+£4,000 – additional pay for inner London teachers
£39,525 – headteachers’ starting salary
Nearly £100,00 – most experienced headteachers’ salary
According to the Local Government Association, about half of the disrupted schools will be closed entirely to pupils – with the others closed for individual classes or year groups.
The numbers of schools facing closure or loss of lessons rose sharply in the 24 hours before the strike. In Birmingham, the number almost doubled to 138 schools.
Widespread disruption is also expected to schools in Leeds, Manchester, Cumbria, Suffolk, Nottinghamshire and inner London. But many other schools will be unaffected – as the strike is only being staged by the NUT without the support of other teachers’ unions.
The NUT is protesting against a pay deal that they say represents an erosion of earnings. Teachers have been offered a three-year deal worth 2.45% this year and then increases of 2.3% in the following years.
“What we’re saying to the government is, if you really do value teachers, then make sure that they’re paid at least at the level of inflation – which we take to be the RPI, which is 4.1%,” says the union’s acting head, Christine Blower.
Pay battle
The teachers’ union leader says that school staff must not be forced to pay the price in lower earnings for pressures on public sector pay.
But the government rejects the complaint – arguing that parents will not be sympathetic.
TEACHERS’ STRIKE
Schools so far facing disruption
Thousands in civil service strike
“I think parents are bewildered because they hear that the average teacher earns about £34,000,” said Schools Minister Jim Knight.
“Their pay has gone up by 19% in real terms since 1997 and that at 2.45% they’re getting more than the 2% benchmark for public sector pay last year and that it’s a reasonable deal.
“The three-year pay award was a recommendation of an independent pay review body… we can’t re-open that process,” said the schools minister. Shadow Schools Minister Nick Gibb condemned the timing of the strike, when “many children have important exams coming up soon and can’t afford to miss crucial lessons”.
Teachers should have a no-strike agreement, argued the Liberal Democrat school spokesman, David Laws.
Apr
22
RBS sets out £12bn rights issue
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Royal Bank of Scotland (RBS) is asking shareholders for an extra £12bn as the bank seeks to shore up its finances.
The rights issue was announced as part of a trading update and is one of the largest seen in UK corporate history.
The firm also announced a write-down of £5.9bn before tax, following its exposure to the credit markets.
RBS added that it was reviewing its insurance unit, which could lead to the sale of its Churchill Insurance and Direct Line businesses.
Market conditions
RBS, which played a leading role in last year’s takeover of the Dutch bank ABN Amro, said it needed to increase its cash base and a rights issue was the best option.
WHAT IS A RIGHTS ISSUE?
Companies issue extra shares to raise money
They are offered to existing shareholders, usually at a discount to the current share price
Shares are offered in proportion to existing holdings, so if you own 10% of the old shares you are offered 10% of the new ones
Under the terms of the rights issue, 11 new shares will be issued for every existing 18 shares at 200 pence each.
The bank said the extra money was needed in light of “severe and increasing deterioration in credit market conditions, the worsening economic outlook and the increased likelihood that credit markets would remain difficult for some time”.
In its latest update, which covered the period from 31 December to 22 April 2008, RBS said global banking and markets had been “acutely affected by credit market conditions” especially in March.
BBC business editor Robert Peston said that the bank would “retain more capital in its balance sheet to meet the risks of default by borrowers than it had been doing”.
RBS said that, following its integration with ABN, it aimed to cut staff numbers by more than originally planned, and added it was seeking to cut costs by 2.3bn euros, up from an earlier estimate of 1.7bn euros
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Apr
22
Lenders to discuss mortgage woes
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Chancellor Alistair Darling and Housing Minister Caroline Flint are to meet mortgage lenders later to urge them to do more to help struggling borrowers.Mr Darling will ask the industry to find ways to prevent those in trouble from having their homes repossessed.
It follows his backing of a £50bn Bank of England plan to allow banks to swap mortgage debts for government bonds to help them during the credit crunch.
The global squeeze has made mortgages harder to find and more expensive.
The rate at which banks lend to each other has been rising, which has seen banks toughening up their lending terms even though official UK interest rates are falling.
There is particular concern about homeowners coming to the end of cheap fixed-rate deals.
Many of them will face much higher monthly bills at a time when food and fuel costs are already stretching household incomes.
Figures from the Council of Mortgage Lenders last month showed the number of people whose homes were repossessed last year in the UK rose by 21% – the highest for eight years.
Swap scheme
But after the announcement of the multi-billion-pound scheme to help banks with their liquidity problems on Monday, it is thought the chancellor may now feel it is time for lenders to pass that assistance on to customers.
In a statement to MPs, Mr Darling said the Bank’s intervention was necessary because money markets were not “functioning properly” and were beset by a “lack of confidence” despite billions of pounds in liquidity being pumped into the system.
The measures, he said, would help alleviate the “increasing cost and declining availability of lending by banks and building societies”.
Under the plan, banks will be allowed to swap mortgage debts for government securities.
The swap scheme, starting on Monday, will be for a period of one year and may be renewed for a total of three years.
It will only apply to mortgage debts on banks’ books at the end of 2007 and the swaps cannot be used to finance new lending.
‘Improved liquidity’
Michael Coogan, the director general of the Council of Mortgage Lenders, which will be attending the meeting with the chancellor on Tuesday, welcomed the Bank of England’s move and said it would help with two things.
“Firstly, improve liquidity in the market, but that may mean more than £50bn over time.
“Secondly, and importantly, restoring confidence in financial markets, which I hope will bring down the cost of the London Interbank Rate, which affects most consumers,” he told BBC Radio 4’s The World Tonight.
British banks have become increasingly unwilling to make loans, even to each other, as a result of the credit crisis, which was triggered by massive losses for banks involved in the US sub-prime mortgage market.
And many investors, concerned at what happened to sub-prime mortgages in the US, no longer want UK mortgage-based assets.
The disappearance of this market has deprived banks of tens of billions of pounds of finance for mortgage lending
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Apr
22
BAA airport ownership criticised
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BAA’s ownership of seven UK airports “may not be serving well the interests of either airlines or passengers”, the Competition Commission has said.
The commission’s “emerging thinking” report said that BAA, “dominates the airports markets in the south-east of England and in lowland Scotland”.
Its next report in August may call on BAA to sell one or more airports.
BAA owns Heathrow, Gatwick, Stansted, Edinburgh, Glasgow, Southampton and Aberdeen airports.
‘Lack of responsiveness’
BAA is itself owned by the Spanish company Ferrovial.
The Competition Commission stressed that it had not yet reached any conclusions but added that it would set out its remedies to any competition problems in August, “whether requiring the sale of one or more of BAA’s airports or otherwise”.
“We are particularly concerned by its (BAA’s) apparent lack of responsiveness to the differing needs of its airline customers, and hence passengers,” said Christopher Clarke, chairman of the BAA airports inquiry.
Mr Clarke was also worried that having so many airports owned by BAA meant that big development projects were being carried out one at a time.
Airport capacity
He added that the point of giving BAA ownership of Heathrow, Gatwick and Stansted after privatisation in 1987 was to make sure there would be adequate airport capacity in the south-east of England, but that there was still a shortage of capacity.
The regulator conceded that competition in the south-east of England was unlikely in the short term because of the lack of capacity, but suggested that having airports separately owned could help to encourage growth in capacity.
It also said that there was potential for competition between Heathrow and Gatwick airports and Southampton.
In Scotland, the report said there was potential for competition between Edinburgh and Glasgow airports, although the ownership of Aberdeen airport was less of an issue.
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Apr
21
Increase in sex offender arrests
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The number of suspected child sex offenders arrested in the UK has risen threefold in the past year, says the organisation set up to tackle abuse.
Nearly 300 suspects were arrested and 131 children protected after work by the Child Exploitation and Online Protection Centre (Ceop).
Ceop, set up as part of UK police in 2006, says it helped break up six international paedophile networks.
It said it had also located 25 of the UK’s highest risk child sex offenders.
The most high profile of these is Timothy Cox, who was convicted in June last year of running a child abuse network from his bedroom at a farmhouse in Buxhall, Suffolk.
More than 75,000 indecent and explicit images were found on Cox’s computer from which he had supplied more than 11,000 to other site users via a website he called “Kids the Light of Our Lives”.
Ceop was set up in April 2006 to help track some of the UK’s highest risk sex offenders and protect children from sexual abuse.
By us all working together 131 children are now safeguarded from some of the worst abuse imaginable
Jim Gamble, Chief Executive, Ceop
Based in London, it works by bringing law enforcers in the UK, the US, Canada and Australia together with the information technology industry, as well as charities and schools.
During the last year Ceop has uncovered around a million images of child sex abuse. It studies each image to help build up intelligence, track offenders, or use as vital parts of an investigative jigsaw.
Eighteen young victims have been identified as a result of this jigsaw work alone.
Nearly 6,000 reports of potential child sex abuse have been received by Ceop in the last 12 months – a significant increase on the previous year.
Timothy Cox was convicted of running a global child abuse network
These reports come from police forces, the child protection community and the public, who can report the abuse by logging onto Ceop’s website.
Ceop also runs an education programme which has given safety advice to 1.7m children in the past year.
Jim Gamble, chief executive of Ceop said the new figures were the result of collaborative action.
“By us all working together 131 children are now safeguarded from some of the worst abuse imaginable – that is true impact,” he said.
“I hope offenders take note. Look at the ways in which together we are infiltrating your worlds, understanding your minds in order to limit deviant behaviour and I hope you think again.”
Mr Gamble said he now wanted more work to be done to convince online operators to demonstrate their commitment to child safety in a “clear and unambiguous way
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Apr
21
Bank set for £50bn lending boost
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The Bank of England is to announce details later of a plan to help prevent the credit crisis causing more damage to the UK banking system and economy.
Banks will be able to swap potentially risky mortgage debts for £50bn worth of secure government bonds to enable them to operate during the credit squeeze.
The Bank of England is expected to indicate further help could follow.
BBC business editor Robert Peston said it could be the world’s most generous plan to help the banking system.
The move could also be seen as a major U-turn by the Bank as it is regarded as more conservative in its financial support for banks than the Federal Reserve in the US and the European Central Bank, he said.
Intervention backed
Under the scheme, banks will be allowed to swap their mortgage debts for government securities.
The Bank of England will on Monday morning perform what some will see as the biggest U-turn in its 300-year history
Read Robert Peston’s blog
The Bank is expected to say that it expects around £50bn of these securities to be issued to banks in the first instance, but that it would be prepared to provide more help if required.
On Sunday, Chancellor Alistair Darling said that without the Bank of England’s intervention, there was “every chance” the UK’s financial crisis would get worse.
He confirmed the Bank would be setting up a scheme to help banks operate during the credit squeeze but insisted the loans would have to be paid back.
Sub-prime problems
Mr Darling will reveal the full details of the plan to MPs in the House of Commons after the announcement by the Bank.
British banks have become increasingly unwilling to lend to one another as a result of the credit crisis, which was sparked by massive losses for banks involved in the US sub-prime sector.
Many investors, concerned about what happened to sub-prime mortgages in the US, no longer want UK mortgage-based assets and the disappearance of this market has deprived banks of tens of billions of pounds of finance for mortgage lending.
It is one of the main reasons why the cost of mortgages for many homeowners has been rising, even though the Bank of England has been cutting its base lending rate.
Warning
Vince Cable, the Liberal Democrats’ Treasury spokesman, has warned that the move could effectively nationalise the banks’ losses unless specific guarantees were given by lenders.
“It is obviously necessary for urgent action to be taken to unblock the mortgage market and to break the crippling effects of the credit crunch,” he said.
“However, we cannot have a situation where the banks are able to privatise their profits and nationalise their losses.”
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