“reckless lending” by international banks to Irish banks contributed to their collapse, the Irish government has sai

European authorities should share the cost of Ireland’s €63bn ($84bn) bank bail-out because “reckless lending” by international banks to Irish banks contributed to their collapse, the Irish government has said. Michael Noonan, Ireland’s finance minister, gave warning on Wednesday that the huge cost of bailing out Irish banks with taxpayers money was driving up national debt and posing a risk to the country’s economic recovery. “We as a country have borne a disproportionate share of protecting the European banking system by the actions we took,”...

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U.K. tax falls on overseas property investors

 Overseas property owners based in the UK are about to be targeted by a new HM Revenue & Customs "affluent unit", which has been set up by the British government to address what it sees as tax avoidance by the rich.Photo 20minutos.es What next I wonder?? A new team of 200 taxation investigators and specialists has been established by HMRC to identify wealthy individuals who, amongst other things, own land and property abroad … such as a holiday home. OPP understands that the tax attack unit will concentrate on overseas property assets...

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Toxic Smoke fills Hotel Senator in Marbella

 On Friday the 18th November 2011 our family with a 3 year old toddler and a 15 month old baby checked into the SENATOR Hotel in Marbella for a one night stay. We knew that the Hotel SENATOR had only recently opened and indeed everything seemed brand new and glitzy. After the usual check in fomalities we finally got to our room on the 4th floor which was OK in every respect other than perhaps being a little on the small side. After returning from dinner we immediately went to sleep as we were very tired. At probably between 3 and 4 am I...

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UK economy forecast: Eurozone crisis dampens Bank’s growth estimate

 THE Bank of England warned today that the eurozone debt crisis is the “single biggest risk” to the UK recovery as it forecast a dramatically increased threat of a double-dip recession next year. Its quarterly inflation report revealed a greater chance of the economy contracting in the first three quarters of 2012, compared with its August forecasts, as eurozone and banking concerns and squeezed household budgets continue to weigh on growth. The Bank slashed its central - or most likely - growth estimate to no more than 1 per cent in both...

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EasyJet pays maiden dividend after profit soars

 EasyJet said on Tuesday it would pay a special dividend of 34.9 pence on top of an ordinary dividend of 10.5 pence, making a total payout of 195 million pounds. Stelios Haji-Ioannou, easyJet's founder and largest shareholder with 112.55 million shares, according to Reuters data, will get 51 million pounds. The company's shares were down 2.6 percent at 356.5 pence at 1110 GMT. The carrier had said in September it would return around 190 million pounds after "a robust" second half. The payout comes after Haji-Ioannou criticised plans to buy...

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private jets waved through customs and immigration checks

Home Secretary Theresa May (Pic:PA)THERESA May was fighting for her job last night after damning new documents fuelled the scandal of lax security at our borders.Advertisement >>Leaked emails showed that thousands of private jet passengers were allowed into the UK without going through immigration or customs.They also revealed the Home Secretary relaxed checks at airports...

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Euro falls as Italy optimism proves short-lived

 euro fell against the dollar on Monday as initial optimism about prospects of crisis-fighting reforms under new governments in Italy and Greece gave way to caution over the huge debt problems still plaguing the single currency zone. On Sunday, Italy's president appointed former European Commissioner Mario Monti to head a new government charged with implementing urgent reforms to end a crisis that has endangered the whole euro zone. On Monday Italy sold 3 billion euros of five-year bonds at yields that, while down from last week's...

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Ex-policeman jailed over VAT fraud

 former police officer who admitted his part in a £365 million VAT fraud has been jailed for 10 years and three months. The conspiracy that Nigel Cranswick directed has taken the equivalent of 25 years of work to investigate, Judge Brian Forster said. The 47-year-old ex-South Yorkshire Police officer was a director of Ideas 2 Go, and, despite its modest base in a Sheffield business park, he claimed it bought and sold £2 billion worth of goods in just eight months. He has since admitted that the firm's trading, largely in mobile...

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How a Financial Pro Lost His House

 ONE night a few years ago, when the value of our home had collapsed, our debt was out of control and my financial planning business was shaky, I went to take out the trash. He wrote a book based in part on lessons learned by losing his Las Vegas home in the housing crisis. There was this enormous window that looked right in on the kitchen table, and through it I could see my wife, Cori, and our four children eating dinner. It was dark outside, so they couldn’t see me, and I just stood there looking at them. After a while, I pulled up a bucket...

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BOTTOM five most hated airports

5. Ninoy Aquino International, Manila, Philippines Wear a helmet -- the first collapsed ceiling in 2006 at Ninoy Aquino International Airport.Beleaguered by ground crew strikes, unkempt conditions, soup kitchen-style lines that feed into more lines and an overall sense of futility, NAIA brings the term “Stuck in the 1970s” to a new level. At Terminal 1 all non-Philippine...

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Top five most hated Airports

10. São Paulo-Guarulhos International, São Paulo, Brazil Whether it's 9 a.m. or 9 p.m. this airport experiences round-the-clock rush hour.Why is this place on our list after scoring third best airport in South America at the 2011 World Airport Awards?  Because, shockingly enough, it turns out that corporate medal ceremonies aren’t always in sync with what...

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Fall of richest man in Ireland as Quinn is declared bankrupt

 TROUBLED tycoon Sean Quinn, once Ireland’s richest man, was declared bankrupt yesterday at the High Court in Belfast. The 64-year-old businessman was granted a voluntary adjudication over an alleged E2.8bn debt owed to Anglo Irish Bank. It is believed to be one of the biggest bankruptcy orders of its kind ever made in either the United Kingdom or Ireland. Mr Quinn said he brought the application north of the border because he was born, reared and worked all his life in Co Fermanagh. But by declaring himself bankrupt in Northern Ireland...

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Murdochs are not a mafia – but the family firm is in meltdown

 There are times to push fine detail and finely timed memory losses aside and ask: what makes sense? And thus the fall and fall of the House of Murdoch continues. Young James is so smart, so smooth, such a master of dead bats and – yes! – detail. He's a clever lad. Why, then, did he act so stupidly? And why did those who were supposed to protect him, in loco parentis, do such a lousy job? We're not talking corporate governance here: we're talking family. Tom Watson may have pushed his mafia metaphor a tad too far at the committee grilling...

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The King of Spain’s son-in-law was at the centre of a corruption storm today as he came under investigation for siphoning off public money.

Inaki Urdangarin - the husband of King Juan Carlos and Queen Sofia's youngest daughter Infanta Cristina - is suspected of misappropriating cash paid into an NGO.The former handball player now faces a possible interrogation by investigating judge Jose Castro  and risks causing huge embarrassment for the royals.It is claimed that his non-profit company, Instituto Noos,...

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