The Abu Dhabi General Prosecution for Public Funds has ordered the detention of two Europeans and other individuals on charges of embezzlement and fraud.

 

 A year ago, the suspects are alleged to have started a fake project selling properties in the United Kingdom at competitive prices. They allegedly targeted UAE investors. Investigations have since revealed that the company does not have a real estate licence and that the accused defrauded 40 investors. The General Prosecution seized around Dh3 million the suspects allegedly swindled from their victims, in addition to Dh100,000 found while inspecting the fake company. Another Dh250,000 in the firm's account was also confiscated. Article continues below The central bank has been asked to give a report on all the transactions carried out by the company. The means of information technology used by the defendants for the management of their operations have been identified by authorities, with Interpol being asked to arrest the other defendants in the case. An official in the Attorney-General's office urged investors in the UAE to be on their guard and to ensure the companies they deal with are authorised to carry out real estate activities in the country.

Asil Nadir faces £34m theft charges in biggest ever fraud trial

 

The biggest ever British fraud trial begins today when Turkish-Cypriot tycoon Asil Nadir stands up at the Old Bailey to face £34million theft charges. He is accused of 13 counts of theft dating back to the 1980s from Polly Peck, his failed business empire that folded in 1990 under the weight of its £1.3billion debt. When he joined Polly Peck in the early 1980s it was an ailing textiles firm which he transformed into a FTSE 100 conglomerate that housed the Del Monte fruit business and the Sansui electronics firm. On trial: The SFO alleges that Nadir transferred millions out of Polly Peck in the years preceding its collapse Following the collapse he jumped a £3million bail and fled in 1993 to Cyprus, which has no extraditions treaty with the UK, but returned in August 2010 stating he wanted to clear his name. Nadir has argued in the past that there was a grave abuse of process in the case brought against him by the Serious Fraud Office. For years he has alleged that the police and the SFO placed the judge in his case under improper pressure, made false allegations of corruption against him and his advisers and seized documents necessary for his defence. The 70-year old has pleaded not guilty to the 13 charges, which include theft of £33.1million and £2.5million from the company between 1987 and 1990. Under Nadir’s leadership the firm’s market value ballooned from £300,000 to £1.7billion, and an investment of £1,000 from the late 1970s would have been worth £1million at its peak. The SFO alleges that Nadir transferred millions out of Polly Peck in the years preceding its collapse. Its demise hit pension funds and small shareholders. The case is due to last at least four months. Nadir’s fall embarrassed John Major’s Conservative government after it emerged that a Tory minister, Michael Mates, had given Nadir a watch engraved ‘Don’t let the buggers get you down’. Mates, the minister of state for Northern Ireland, resigned over his links to the businessman. Nadir was a major donor to the Tories, pouring more than £1million into party coffers between 1986 and 1990. He was a regular guest in Mrs Thatcher’s Downing Street, and was consulted on overseas development and Middle Eastern trade.

No one calls him Sir Allen Stanford anymore. He is inmate number 35017-183.

 

On Monday, the Texas financier heads to court in Houston to battle charges that he operated a $7 billion Ponzi scheme from Stanford International Bank Ltd, his offshore bank on the Caribbean island of Antigua. By all accounts, his was a life of luxury, filled with private jets, yachts, mansions and the sport of cricket. Deemed a flight risk in June 2009 by a federal judge, the 6-foot billionaire has been in jail, sporting prison-issue green and orange jumpsuits and shackles instead of the dark, tailor-made suits he once ordered in bulk. Stanford, a native Texan who was knighted by the government of Antigua in 2006, is accused of misleading investors about certificates of deposit (CDs) issued by his offshore bank, in one of the biggest white collar fraud cases since Bernard Madoff. The CDs were touted as safe, with funds "generally invested in investment grade bonds, securities and foreign currency deposit," according to literature distributed by Stanford's brokerage firm. Instead, prosecutors allege, Stanford invested CD proceeds in illiquid pet-project investments that included Caribbean real estate, a Cowboys and Indians magazine and a pawn shop operator. He also loaned more than $2 billion to himself. The alleged Ponzi scheme started to unravel in late 2008 as the financial crisis deepened and more and more investors asked for redemptions, a situation that left Stanford scrambling for cash. Prosecutors will likely rely heavily on the testimony of the firm's former Chief Financial Officer James Davis, who pleaded guilty in August 2009 and has been cooperating with the government. The two men were college roommates at Baylor University in Waco, Texas. In past interviews, Stanford has blamed Davis, a theme that is likely to be repeated by the defense at trial. "I didn't oversee anything in the investment portfolio, that was the CFO's responsibility," Stanford told Reuters in a 2009 interview. "The CFO had investment committees, the chief investment officer reports to him." Stanford, 61, has pleaded not guilty to 14 criminal counts of fraud, obstruction of a federal investigation and conspiracy to launder money. Among the alleged crimes prosecutors expect to prove to the Houston jury is that Stanford was involved in falsifying financial statements and made false statements about Stanford International Bank's financial condition. PAUPER IN LOVE Stanford's health has declined since his arrest. He was injured in a jailhouse brawl in 2009 and suffered from an addiction to a powerful anti-anxiety medication. He has hepatitis B and cirrhosis of the liver, and, if convicted, will likely spend he rest of his life in prison. The SEC seized all of Stanford's assets in February 2009 after filing a civil lawsuit. His lawyer at the time, Dick DeGuerin, said the government's action did not even leave enough money for his client to buy underwear. Once No. 205 on Forbes' list of richest Americans, Stanford's defense is paid for with U.S. tax dollars and his 81-year-old mother is struggling to help. "I've maxed out my credit cards and I'm on my last few thousand dollars of savings," said Sammie Stanford. She even had to do a reverse mortgage on her home "to get some extra cash," she said in December after a court hearing. After his arrest, Stanford had a bevy of women, four of whom are mothers of his six children, attend his court hearings. He had a "fiancee" half his age even though he remains legally married. Stanford lavished the women in his life with trips on private jets, luxury homes and, in one instance, spousal support payments of $100,000 per month, according to court documents. His oldest daughter, Randi, lived in a luxury Houston high-rise paid for by her father, for whom she worked. Court records from a 2007 paternity case, that was settled, showed Stanford also paid about $150,000 a year in child support for two other children who lived with their mother in a $10 million house in Florida. But now, in addition to losing his fortune, Stanford has only the support of his parents and family and not the harem of loyalists seen earlier. Only his mother lasted through the entire three days of testimony last month at a hearing in which Stanford was judged competent to stand trial. The man who once ran a business with operations in 140 countries has different priorities now. In a recent court hearing he could be heard complaining about being served a peanut butter sandwich on stale bread.

Five European tourists killed in attack in Ethiopia

 

Gunmen in northern Ethiopia have attacked a group of European tourists, killing five, injuring two and kidnapping four people, according to a government official. Bereket Simon, the Ethiopian communications minister, said the attackers struck before dawn on Tuesday. The dead were two Germans, two Hungarians and an Austrian; two Germans and two Ethiopians were kidnapped, and an Italian and a Hungarian were wounded in the attack. Simon blamed rebels trained and armed by neighbouring Eritrea, which remains a bitter foe. "The attack occurred at 5am on Tuesday, in which Eritrean-trained groups also kidnapped four," Bereket told Reuters. "Two of them are foreigners; one is a driver and the other a policeman." Eritrea dismissed the allegation as an "absolute lie". The tourists were visiting the volcanic Afar region, which is one of the hottest places in the world and a known haunt of rebels and bandits from Eritrea and Ethiopia. Simon said the attack occurred 12 to 15 miles from the Eritrean border. A German media report said the group of tourists had been close to the Erta Ale volcano, one of Ethiopia's most active. The Afar region is a known haunt of bandits from Ethiopia and Eritrea. Photograph: Reuters Ethiopian state television reported that there were eight tourists in the targeted group, but Simon suggested the party was bigger. An Austrian foreign ministry spokesman, Peter Launsky-Tiefenthal, said two groups totalling as many as 22 people may have been attacked, though he said the numbers were unconfirmed. Girma Asmerom, Eritrea's ambassador to the African Union (AU), said Ethiopia's allegations were "fabricated" and the attack was an internal Ethiopian matter. "This is pathetic, an absolute lie," he told Reuters. "Eritrea has nothing to do with any of these movements." Eritrea gained independence from Ethiopia in 1993 but the two countries soon became embroiled in border disputes. The east African countries fought a war from 1998 to 2000, which claimed the lives of about 80,000 people. Tension grew last year when a UN report revealed that Eritrea was behind a plot to attack an AU summit in Ethiopia in January. "It has become a trend for Ethiopia to fabricate sensational news against Eritrea whenever the summit is nearing," Girma said. In 2007, five Europeans and 13 Ethiopians were kidnapped in Afar. Ethiopia accused Eritrea of masterminding that kidnapping but Eritrea blamed an Ethiopian rebel group. All of those hostages were released, though some of the Ethiopians were held for more than a month. In 2008, Ethiopia foiled a kidnapping attempt on a group of 28 French tourists in the area. Foreigners who venture into Afar usually include researchers, aid workers and adventure tourists visiting geographical wonders such as the Danakil depression and ancient salt mines. Launsky-Tiefenthal said an Austrian foreign ministry travel warning had been in effect for the region since 2007 "because of several incidents involving attacks on tourist groups ... in some cases politically motivated, in others criminally motivated". He added: "The problem is, there is no infrastructure in the area. No telephone lines; satellite phones barely work." He likened Afar to "the surface of Mars".

Costa Concordia Cruise Ship Disaster: Captain Says He 'Fell Into Lifeboat' And Could Not Escape

 

The captain of the stricken cruise ship Costa Concordia has told investigators he "fell into a lifeboat" during the evacuation and could not get out again. Francesco Schettino gave the excuse during three hours of questioning with an investigating magistrate before he was released from custody and given house arrest. The skipper, 52, was arrested on Saturday on suspicion of manslaughter and abandoning the cruise liner while passengers were still onboard. The death toll from Friday night's disaster now stands at 11, while 28 others including 24 passengers and four crew are still missing.

Passengers feared death after cabin crew accidentally issued emergency landing message

 

Duncan and Tracey Farquharson were flying to London from Miami when a recorded message came over the public address system announcing that the aircraft was going down. Passengers on board began panicking, believing that they would be killed before a flight attendant apologised, saying the message was a mistake. However, the pair yesterday accused the airline of trivialising passengers’ concerns, claiming that staff issued a “blasé” apology and did not explain the error until hours later when they were coming in to land at Heathrow. Mr Farquharson, 58, an engineer from Twickenham, London, said: “We were about three hours into the flight when an automated message came over the tannoy saying: ‘This is an emergency, we will shortly be making an emergency landing on water’. “We looked at each other and figured we were both about to die. Families with children were distraught and people were in tears. It was very distressing. “About 30 seconds later one of the cabin crew told us to ignore the announcement and accept their apologies but the tone of suggested they had not grasped how seriously we had taken it. “Imagining yourself plunging towards a cold, watery grave in the middle of the Atlantic is a pretty horrific thought but they seemed very blasé about it.” Mrs Farquharson, 51, an administrator, added: “The captain didn’t even say anything about it until when we were coming in to land and even that did not explain what had happened. “It still makes me very emotional thinking about it now – it was very traumatic. We’re going to complain to British Airways about the way we were treated.” A British Airways spokesman said cabin crew apologised for the incident aboard the flight on Friday night and that staff spoke to passengers individually to reassure them. The spokesman said: "A pre-recorded emergency announcement was activated in error on our flight from Miami to Heathrow on Saturday January 14. "The cabin crew cancelled the announcement immediately and sought to reassure customers that the flight was operating normally. "We would like to apologise to passengers on the flight for causing them undue concern. "We take such matters seriously as safety is our paramount concern." Share:     inShare 5 UK News News » How about that? » Murray Wardrop » IN UK NEWS   Bafta 2012 nominees   London Art Fair 2012   Telegraph readers' photos   We Are Not The Dead   Crazy customised coffins

Finca La Garganta, near the village of Conquista, on the border of Castilla La Mancha, is one of the largest and most exclusive hunting estates in western Europe.

Finca La Garganta, near the village of Conquista, on the border of Castilla La Mancha, is one of the largest and most exclusive hunting estates in western Europe.

It is teeming with wildlife including wild boar and stag which William and Harry, both crack shots, are said to be keen to bag.

Beaters and packs of dogs were brought in to ensure that the princes did not return home without several 'kills' to their name.

The brothers have visited the estate before and last time were said to have bagged a staggering 740 partridge on a single day.

The second and third in line to the throne arrived in Spain on Friday on separate flights as they are not allowed to travel together in case of an accident.

William , 29, who was not believed to be accompanied by his wife, the Duchess of Cambridge, flew into Seville while Harry, 27, arrived on a private jet at Cuidad Real Central later in the afternoon.

Hunting: The sprawling estate owned by the Duke of Westminster in Cordoba, Spain, where the Princes were on the hunt for wild boar

Traditional: The Princes stayed at the Duke's Spanish property over the weekend

They took up residence in a ten bedroom villa with a group of friends and their Scotland Yard bodyguards, one of three luxurious hunting lodges built at the heart of the estate at a cost of several million pounds by the reclusive Duke.

 

It has marble floors, wooden beams - and its own jacuzzi and sauna.

The estate has just one  – practically impassable – public road, its own petrol station and a fleet of armed security guards driving 4x4s to keep any undesirables at bay.

Sharpshooters: Prince William at the Beaufort Hunt, Tetbury, in Gloucestershire, left, and Prince Harry on a shoot at Sandringham 

In the bag: The princes, who are both crack shots, had their sights on wild boar during the hunting trip

The Duchess of Cambridge Kate Middleton did not join Prince William on his trip to Cordoba

More than 15,000 hectares in size with a 40 mile perimeter, the Finca also boasts  a private train station and accommodation for nearly 100 staff.

It is understood that William took his then girlfriend, Kate Middleton, to the estate a couple of years ago when they took part in a wild boar and deer hunt involving hundreds of local beaters

According to one local employee, they killed 'dozens' of animals that day.

'They were mostly very good shots, ' said an estate employee.

Their latest trip was organised  as an early celebration to mark Prince Harry's graduation as a fully operational Apache attack helicopter pilot.

He is due to be assigned to one of the Army Air Corps Apache squadrons at RAF Wattisham in Suffolk and could be posted back to the frontline in Afghanistan by the end of the year.

The holiday is also something of a farewell for William who is due to be stationed in the Falkland Islands with his RAF Search and Rescue crew for six weeks from next month.

Locals said the princes remained on the estate all weekend and were due to fly back yesterday.

A Clarence House spokesman said : 'We cannot discuss the movement of the princes as they are on a private weekend.'

M&S workers pose nude for charity calendar sold under the counter

A calendar with pictures of scantily clad Marks & Spencer staff has raised £2,500 for charity despite having to be sold under the counter.

The M&S workers were asked to keep the calendar under the counter (Picture: SWNS)

The publication features naked and topless workers in Calendar Girls-type poses involving items for sale such as cakes, newspapers, underwear and marshmallows. 

It was not intended for sale to the public but word got around and copies were bought discreetly.

‘We weren’t really allowed to put it on display in the shop,’ said one member of staff at the store in Barnstaple, Devon.

‘It was a bit of a brown paper bag job, to be honest.’

The saucy calendar is raising money for North Devon District Hospital's Chemotherapy appeal. (Picture: SWNS)

Marks insists only a limited number of calendars were produced, all of which have now been sold.  

A M&S spokesman said: 'M&S supports the Barnstaple store's efforts to raise funds for the North Devon Health Care Chemotherapy Unit. 

'A limited number of calendars were produced by members of staff for sale to friends and family, and were never intended for commercial sale in-store

Three people were found alive on Sunday as rescuer workers continued to search a partly submerged Italian cruise ship

 

Three people were found alive on Sunday as rescuer workers continued to search a partly submerged Italian cruise ship resting just off this small island near the Tuscan coast. Multimedia Map Map of the Area Where the Italian Cruise Ran Aground Photographs Cruise Ship Runs Aground in Italy Cruise Ship Runs Aground Connect With Us on Twitter Follow @nytimesworld for international breaking news and headlines. Enlarge This Image Enzo Russo/European Pressphoto Agency The ship's captain, Francesco Schettino, was arrested on Saturday. More Photos » Early Sunday, an Italian fire brigade found a honeymooning couple from Korea alive inside a cabin of the Costa Concordia, which was resting on its side with a gash just below the waterline and a rock stuck in the hull. A brigade spokesman, Luca Cari, said the couple had been taken to a local hospital. Later, an Italian man, who was identified in media reports as a crew member, was taken from the ship by helicopter. The man was thought to have a broken leg. At least three people were killed when the Costa Concordia, carrying 4,200 passengers and crew on a weeklong Mediterranean cruise, slammed into an undetermined object near the island Friday night as passengers for the late seating had just started dinner, tucking into appetizers of grilled mushrooms and scallops. On Sunday, media reports described rescue workers in boats circling the big ship, tapping on the hull, and listening for a response. Divers also combed the ship’s underwater cabins for those still missing, up to 41 people. Shaken survivors spoke of a mad crush to flee a sinking cruise ship off the Tuscan coast, raising questions about the crew’s preparedness, Italian authorities arrested the ship’s captain amid concerns that the megaship had steered dangerously off course. Anxious survivors, many comparing the experience to the movie “Titanic,” recounted a chaotic and terrifying scene in which some crawled through hallways to escape down perilous ladders to lifeboats, while others leapt overboard into the wintry Tyrrhenian Sea. “In a moment, everything was up in the air,” said Alessandra Grasso, 24, a passenger from Sicily. “People, chairs, glasses, food.” Ulrike Schweda, 63, from Germany, was caught in a crowd of people pushing toward a lifeboat, and slipped on the deck. “The most terrible thing was seeing children trying to get down this ladder they had put on the side of the boat,” she said. Two French citizens and a Peruvian crew member were reported dead, according to a hospital official in Grosseto, Tuscany. Divers searched until nightfall Saturday for the missing, perilously probing the 2,000 cabins for survivors while the Leviathan ship lay on its side in the water, a boulder poking through a 160-foot gash in its hull. The Italian Coast Guard said 41 people were still unaccounted for. The coast guard is also monitoring the environmental impact of the accident, but as of Sunday morning, no oil had seeped into the ocean from the ship. “We are optimistic and hope that the ship is not going to slide further down,” Cmdr. Cosimo Nicastro, a spokesman for the coast guard, told reporters. “But the weather conditions are slowly worsening, and that is a cause of concern.” There were conflicting reports about whether the ship was off course in reef-filled waters just miles from the shore or whether an electrical failure had caused the crew to lose control. Passengers spoke of faulty evacuation procedures and unprepared staff who told them nothing was wrong — until the ship began tipping over. After questioning him for several hours, the Italian police detained the ship’s captain, Francesco Schettino, and the first officer, for questioning on charges of manslaughter, failure to offer assistance and abandonment of ship, the police said. Before his detention, Captain Schettino told Italian television that the ship had hit a reef that was not on its navigation charts. Gianni Onorato, the president of the Costa cruise company, a subsidiary of Carnival Cruise lines, said the ship had been sailing its “regularly scheduled itinerary” from Civitavecchia to Savona, Italy, when it struck “a submerged rock.” He said Captain Schettino “immediately understood the severity of the situation” and “performed a maneuver intended to protect both guests and crew.” The Italian coast guard said the captain had tried to turn the ship toward port in Giglio to make an evacuation easier, but it began to tip over as it reached the port.

Bacon, deli meat may raise pancreatic cancer risk

Bacon or sausage? You might want to rethink that decision. Consuming processed meat regularly may increase a person’s risk of developing pancreatic cancer, though the risk is still low, says a new study. A meta-analysis of 11 studies involving 6,643 people with pancreatic cancer suggests an elevated risk of the disease when consuming processed meat such as bacon, cold cuts and sausages. In the study, men who ate red meat also showed an elevated risk of the disease, while women did not. The authors believe this is because men generally consume more red meat than women. For every 50 grams a person adds of processed meat to their diet, the risk of pancreatic cancer increased by 19 per cent, according to the study. "When results from all studies were combined, an increase of 50 grams per day of processed meat consumption was associated with a statistically significant 19 per cent increased risk of pancreatic cancer," the authors wrote. For the study, 120 grams was deemed a serving of red meat per day, while 50 grams represented a serving of processed meat. A typical hot dog is about 45 grams. "Processed meats are usually preserved with nitrite and may also contain N-nitroso compounds," write the authors. They say these compounds can also be formed in the stomach from nitrites and from compounds found in animal products and are potent carcinogens that have been shown to induce pancreatic cancer in animals. The study was conducted by Swedish researchers at the Karolinska Institute in Stockholm and published Thursday online in the British Journal of Cancer.

Eurozone back on the brink as France has credit rating downgraded

 

Stock markets and the single currency fell sharply as Standard and Poor’s cut France’s AAA rating. The rating agency’s move triggered a backlash from European politicians and led to calls for Britain to be downgraded too. As many as eight other eurozone countries, led by Italy, were also facing downgrades that will make it more expensive for them to borrow. The move represents a further loss of confidence in the single currency and the European Union’s ability to rescue indebted eurozone members. The Treasury believes that the collapse of the euro could seriously damage the British economy and banking system, pushing the UK back into a deep recession. The agency’s move also threatens to torpedo the main European bail-out fund set up to support struggling countries such as Greece and Portugal. There are growing fears that Greece is edging closer to defaulting on its debts and being forced out of the single currency, with potentially devastating consequences. Talks between Greece and its creditors were put on hold on Friday.

Greece teeters on edge of bankruptcy as debt talks stall

 

Fears are rising that the credit ratings of several eurozone countries could soon be downgraded - prompting global markets to fall and the euro falling to a 16-month low. Analysts today said that ratings agency Standards & Poor was finally going to deliver the downgrades it had threatened for much of the 17-nation eurozone just over a month ago. It comes because of concerns of Europe's inability to get a grip on a debt crisis that has raged for around two years. And it is on the same day that Greece was revealed to once again be teetering on the edge of a catastrophic bankruptcy - as negotiations on a bond swap to slash its public debt by 100 billion euros stalled.

Cornwall shooting death men 'worked for IRA drug gang'

 

Two men killed and buried on a remote farm in Cornwall were working for an IRA gang involved in Liverpool's drugs trade, a court has heard. Boxer Brett Flournoy, from Merseyside, and David Griffiths, of Berkshire, were found dead buried in a van at Ross Stone's farm near St Austell in 2011. Murder accused Thomas Haigh, 26, told Truro Crown Court the pair worked for Irish republicans who "ran Liverpool". Mr Haigh and Mr Stone deny murder. The trial continues. 'Self-interest took over' Mr Stone, 28, who admits burying the bodies on his Sunny Corner farm at Trenance Downs, told police he had arrived back at the farm on 16 June to find the bodies of the two men lying on the ground, the jury heard. A badly beaten Mr Haigh was nearby, he said in an interview, and although Mr Haigh did not admit killing them, he told Mr Stone "Dave [Griffiths] wouldn't die". Jurors also heard that both defendants blamed the other for killing the two men, to whom the alleged killers both owed money, in Stone's case £40,000. The dead men were buried with their van on the farm near St Austell Mr Haigh - who went to hide in Barnsley, South Yorkshire, after the killings - told police that Mr Griffiths had beaten him up over a girl he had taken back to the farm. He said he had run off and that the men had still been alive when he did. Prosecuting, Paul Dunkels QC told the jury on the second day of the trial that both men's claims were lies. He said: "When arrested by the police, the alliance between these two men broke down and self-interest took over. "The murders were the result of the joint efforts of these two defendants." The burned bodies of Mr Griffiths, a father-of-three originally from Plymouth, Devon, but living in Bracknell, Berkshire; and Mr Flournoy, a father-of-two from Bebington, in Wirral, Merseyside, were found dumped in the back of a van buried on the farm in July 2011. Mr Haigh, 26, formerly of Huddersfield, West Yorkshire, and Mr Stone, both deny two counts of murder.

Alex Salmond wants Scotland to join the European Union in its own right and that means joining the euro – and leaving the pound

 

Speaking of imminent downgrades (S&P are about to pull the plug on various eurozone countries apparently), what about Scotland? George Osborne put a fundamental question yesterday about the currency of an independent Scotland. Alex Salmond wants Scotland to join the European Union in its own right and that means joining the euro – and leaving the pound. Yet he has also talked in the past about remaining in a currency union of some sort with the rump UK. There is then, at the very least, a question mark over the First Minister's intentions, which is why the Chancellor tried to put him on the spot about his plans. Here's another question that I gather the Treasury is studying with great interest, which is part and parcel of the currency issue: what would the credit rating for an independent Scotland be? The reckoning down here is that Scotland would have to apply for a rating from the various agencies, which in turn would beg some interesting questions about its credibility as a sovereign. It will be new so it won't have a record to lean on. And as the FT details today, the independence negotiations would have to resolve a number of difficult money issues specifically Scotland's share of UK debt and whether it has to take over responsibility for HMG's £129bn contingent liabilities for RBS. Scotland would be relatively small and still wealthy, but its credit rating will be in part a factor of its political credibility: the agencies might conclude that the SNP's social democrat statist model is not a reliable long term bet, and mark the new sovereign down accordingly. Now that Mr Salmond has conceded a date for a referendum, we can expect more questions like this from the Treasury about the difficult detail that must be hammered out.

Student to face US trial over TVShack website

 

student who created a website which helped people watch films and TV shows for free can be extradited to the US to face copyright infringement allegations, a court ruled today. Sheffield Hallam University undergraduate Richard O'Dwyer, 23, allegedly earned thousands of pounds through advertising on the TVShack website before it was closed down by the US authorities. He faces jail if convicted of the allegations, which were brought following a crackdown by the US Immigration and Customs Enforcement agency. His lawyer Ben Cooper has argued that the site did not store copyright material itself and merely pointed users to other sites, in the same way that Google and Yahoo operate. Mr Cooper also claimed his client would be the first British citizen to be extradited for such an offence and would effectively become a "guinea pig" for copyright law in the US. His mother Julia O'Dwyer, from Chesterfield, has described the action as "beyond belief" and the UK's extradition treaty with the US as "rotten". But District Judge Quentin Purdy ruled today at Westminster Magistrates' Court that the extradition could go ahead. Mr Cooper indicated he would appeal against the ruling. O'Dwyer, who wore a grey shirt and blue jeans, showed no emotion as the ruling was made. His mother Julia criticised Britain's extradition treaty with the US. She said after the hearing: "If they want to prosecute something they will. "There's no safeguards here for British citizens." She also claimed the District Judge did not have the "technical brains to know about the whole thing". She added: "That guy just lives and breathes extradition."

US warns of 'credible' Thai terror threat as Hezbollah suspect is arrested

US ambassador Kristie Kenney's warning came as Thai authorities arrested a Lebanese Hezbollah suspect. Deputy Prime Minister Chalerm Yumbumrung said police had stepped up security after the arrest and he was confident the situation would be contained. Ms Kenney was elaborating on an "emergency message" sent by the embassy to American citizens earlier Friday warning of a possible terrorist attack. The message said that "foreign terrorists may be currently looking to conduct attacks against tourist areas in Bangkok in the near future." It urged Americans to "keep a low profile" in public and to exercise caution in areas where Western tourists gather. Ms Kenney told The Associated Press the threat was "real and very credible." She didn't give any other information.