howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
the poor man will have to struggle along on a mere 14 million quid pension pot, i hereby challenge ian duncan-smith to try to get by on that.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Its enough to make you shed a tear
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Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
for who kieth.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
for those that have to go without
this guy forgot to say he earnt(got) while he was failing
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Big six energy firms accused of 'cold-blooded profiteering'
Doubling of retail profit margins prompts call for radical overhaul of regulation
The industry regulator Ofgem, which produced the estimates, said profits per household
would reach £100 over the next 12 months.
Other new figures obtained from British Gas, EDF and the four other suppliers showed
their profit margin from power generation - a separate part of the business - averaged
more than 24% in 2011. They are believed to have risen since.
The escalating earnings were condemned by fuel poverty campaigners, rival energy
companies and the shadow energy secretary, Caroline Flint.
They have led to further calls for the gas and electricity market to be reformed to break
the stranglehold the big six have on supply, and will increase pressure on energy
executives who are due to appear before parliament's energy and climate change
committee on Tuesday as part of an inquiry under the title "energy prices, profits and poverty".
Kartel.....................................in all but name......................
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
another thatcher legacy haunting us,.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Should never have been allowed to get to this
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Courtesy Sunday Times.
Good ol`boy gives elderly £ 100 million.............
A tycoon handed over his entire fortune to be top of list of Britain's philanthropists
.after handing over his companies to a charitable trust to the benefit of the islands older people.
EVERY Christmas David Kirch hands out £100 of Co-op shopping vouchers to each
Jersey resident aged over 70 at a personal cost of £1m.
That would be philanthropy enough for most people but now the property developer,
who has lived on Jersey since 1973, has also pledged his £100m fortune to the island's elderly.
The gift, prompted by his diagnosis with prostate cancer, propels him to the top of this
year's Sunday Times Giving List, to be published alongside the Rich List next Sunday.
Kirch, 76, is an unlikely multimillionaire. He drives a Mini and recently moved out of a
six-bedroom mansion into a smaller property in the grounds
. He still works for his property business, having been declared in remission
last year, but does not draw a salary
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Sounds a fantastic guy
ALL POSTS ARE MY OWN PERSONAL VIEWS
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
doesn't fit in with this thread, does he?
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Have to show there is some hope Howard......................................
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
OK..........................Back to the Bad boys..........................
Trader, Kareem Serageldin, pleads guilty to role in banking crash
Former Credit Suisse employee convicted for mortgage fraud
In a case described by lawyers as a "tale of greed run amok", a trader
who hid a £351m loss so he could pocket a £4.5m bonus has become
the most senior City figure to be convicted for the kind of mortgage fraud
that helped precipitate the global financial crisis.
Kareem Serageldin, the former global head of Credit Suisse's structured credit trading,
deliberately inflated the value of mortgages and bonds from his Canary Wharf office
and, it was claimed, ordered two others in his team, David Higgs and Salmaan Siddiqui,
to do the same.
Serageldin's lies contributed to a £1.7bn write-down in the company's 2007 year-end
financial results, but more disastrously helped to mask the failure of the sub-prime
mortgage market which caused the collapse of the banking system.
After years of being pursued by US authorities, who eventually extradited him from the
UK to face justice, Serageldin finally pleaded guilty to conspiracy in a packed
New York City courtroom on Friday.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
73 Chester Square, London, British Virgin Islands
The Mirror carries a report today (13 April 2013) that the house that Margaret Thatcher
lived in for the past 20 years is "owned" by a company called Bakeland Property Company Ltd.
registered in the British Virgin Islands.
The story is a little confusing and conflates ownership with leasehold. The fact that the house
is owned offshore was first reported by Rob Evans and David Hencke in the Guardian in 2002.
Assuming that the leasehold interest was held by Bakeland Property Company Limited on behalf
of the late Mrs Thatcher (who thus had a proprietorial interest in the house as opposed to simply
being a tenant and having no connection with Bakeland), that the beneficial interest is inherited
by her children Mark and Carol, and that, as the Mirror claims, the house is currently worth £6 million
, then they will avoid inheritance tax at 40% (£2.4 million) as well as Stamp Duty at 7% (£420,000).
The new Stamp Duty rate for residential properties owned by corporate bodies of 15% only
applies to properties acquired since 21 March 2012.
And that is one of the legacies of Mrs Thatcher's property-owning democracy.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Wealth tax to pay for EU bail-outs
Wealthy households would face new taxes on property and other assets under German plans
to prop up the struggling eurozone.
Merkel's possible new wealth tax could see Britons with holiday homes dragged deeper into
eurozone crisis.
Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards
the cost of any future bail-outs for the weaker members of the single currency.
The proposals, from members of Germany's council of economic experts, raise the prospect of taxes
being imposed on property in a country like Spain if its government was forced to seek a bail-out.
The council, known as the "Five Wise Men", is often used to test new policies that are later adopted officially.
The German suggestion is the latest sign that Berlin is intent on imposing even tougher rules on weaker
southern euro members in exchange for using its economic might to support their finances.
As well as inflaming tensions between Germany and its smaller southern partners, the suggestion
could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis.
Cameron and Merkel pledge to make EU more competitive 13 Apr 2013
Around 400,000 Britons live or own homes in the south of Spain, which is suffering a deep recession
that is hampering Madrid's attempts to balance the public finances and stave off a bail-out.
Senior figures in Germany are now arguing that some richer home owners in countries like Spain,
Portugal and Greece have so far avoided paying their fair share to rescue the euro, leaving
Germany paying too much
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
some interesting thoughts reg
Until we get hold of the legal/illegal corruption it goes on and on
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
MP plotting changes to libel laws Sir Edward Garnier earns thousands as a libel lawyer
A senior Conservative MP, who opposes plans to prevent firms from suing unless they have
suffered significant financial losses, earns thousands of pounds as a defamation barrister
on top of his parliamentary salary.
Sir Edward Garnier, who was a minister until September, said last week that he was seeking
to amend the Defamation Bill to scrap a clause that would have made it harder for companies
to sue. At the same time, the MP for Harborough declares on the Commons register of interests
that, since stepping down as a minister, he has received £37,000 from legal work as a senior QC
- including from defamation cases. He is currently representing Lord McAlpine in his defamation
case against Sally Bercow, the wife of the Commons Speaker.
While Sir Edward, 60, has acted within parliamentary rules and declared his financial interest
as a libel lawyer, it has led some to question that the outside earnings of MPs could potentially
compromise their views inside Parliament...................
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Andrew Bailey: it's 'odd' UK bank bosses have avoided formal charges
Britain's chief financial regulator, Andrew Bailey, has said it is "more than odd" that the
chairmen and chief executives who were at the helm of the failed banks have avoided formal charges.
Andrew Bailey, head of the new Prudential Regulation Authority, said it is "more than odd" tha
junior bankers have faced charges but not bank bosses. Photo: Paul Grover
The chief executive of the Prudential Regulation Authority (PRA) said that it was a "source of some
surprise" to him that authorities had brought cases against junior bankers but not senior directors.
Speaking at a conference in London, Mr Bailey said it was "not the job of the regulator" to say
if individuals should go to prison.
But he added: "It is to my mind a very striking observation and difficulty with the crisis that no
formal action has been taken against any chief executive or any chairmen of a failed institution.
Not because I have a personal vendetta against them but it is more than odd that action has
been taken against people lower down institutions but not at the top."
He told the Future of Financial Services Summit that Barings directors had been struck off after
the bank was brought down by Nick Leeson, the rogue trader in 1995. "They did not like that but
it happened," he said. "And it has been the source of some surprise to me that it has not happened
in wake of the crisis to date
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
These financial interests must have conflicts of interests surely should be looked at
Well although these regulators cant send people to prison, they are clear in there view that the chiefs should have gone to prison
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Npower's three years of zero corporation tax
Energy boss tells MPs that avoidance is because of 'simple UK accounting rule'
The boss of energy giant Npower has admitted that the company hasn't paid UK corporation
tax for three years after coming under fire over rising electricity and gas bills from outraged MPs.
Paul Massara, the firm's chief executive, claimed it was because of a "simple accounting UK rule,"
but the news will spark fresh anger at energy firms, which have been accused of forcing millions
of ordinary people into fuel poverty while making huge profits while.
Senior staff from the big six energy firms SSE, EDF, E.on, Npower, Scottish Power and British Gas
were severely criticised by members of the Energy and Climate Change Committee in a heated
session at the House of Commons.
MP Ian Lavery, who provoked the admission from Mr Massara, said: "In the past three years RWE
Npower has reported profits totalling £766m - yet today they admitted they have not paid a single
penny of corporation tax over that period. People who pay their taxes unquestioningly are sick
and tired of seeing hugely profitable companies use every trick in the book to get out of
contributing their fair share.
"Hard-pressed people struggling with sky-high energy bills will be absolutely astonished that an
energy company which makes hundreds of millions in profits doesn't appear to be paying its fair share in tax."
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
How can they put up prices in such a way
yet make no attempt to pay tax's
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