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Thursday April 3, 2008

News

Mugabe loses parliament majority

Robert Mugabe has lost control of Zimbabwe's parliament in a major blow to his hopes of holding on to power, with the final official tally giving his Zanu PF party 97 seats to the MDC's 109. The opposition MDC claimed that it had also won the separate presidential poll, with... [continued]

Ahern leaves under a cloud

Bertie Ahern has announced his resignation as Ireland's Prime Minister following sleaze allegations centring on a series of allegedly secret payments that he received from businessmen in the 1990s.Despite his achievements on the economy and Northern Ireland, Ahern could not shake off damaging publicity about his financial affairs.

China informs on ally Iran

China has betrayed one its closest allies by providing the United Nations with intelligence on Iran's efforts to acquire nuclear technology. Concern over Iran has increased in recent weeks after officials at the International Atomic Energy Agency (IAEA), the UN's nuclear watchdog, discovered that Iran had obtained information on how... [continued]

UK borrowing binge continues

Consumer borrowing through credit cards, overdrafts and loans is rising at its fastest rate in five years, with the withdrawal of cheap mortgage deals forcing millions of home owners to take on personal debt to finance their everyday expenses. Borrowing through loans and overdrafts increased by £2 billion in February... [continued]

London mayoral race tightens

Ken Livingstone and Boris Johnson are neck and neck in the race to become London's next mayor, according to a poll published today in the Guardian. The battle for the biggest directly elected job in British politics could hardly be more dramatic, with Johnson holding a wafer-thin advantage over his... [continued]

Shannon stepfather arrested

The stepfather of former missing schoolgirl Shannon Matthews has been charged with 10 counts of possessing indecent images of children. Craig Meehan, 22, of Dewsbury, West Yorkshire, was arrested at the family home on Wednesday and will appear before magistrates on Thursday. Shannon, nine, was missing for 24 days after... [continued]

Fed chief gives recession warning

Federal Reserve chairman Ben Bernanke warned today that the US economy may shrink in the first half of this year, in a frank admission that conditions have worsened in the last two months. He told the joint economic committee of US Congress today that the short-term economic outlook has deteriorated... [continued]

Business news

M&S offers compromise on Rose

Marks & Spencer has drawn up a list of concessions to end the damaging three-week row over the controversial elevation of Sir Stuart Rose to the dual role of executive chairman. The retailer will propose that Sir Stuart stands for re-election to the board every year, effectively paving the way... [continued]

Gala Coral seeks to stem losses

The private equity owners of Gala Coral, Britain's largest privately owned company, have agreed with its creditors to inject £125m into the troubled business. Gala, which operates 1,566 Coral betting shops, 165 bingo halls and 31 casinos, has seen its business decline following the introduction of the smoking ban.

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