Saif al-Islam Gaddafi after his capture, his fingers wrapped in bandages and his legs covered with a blanket

. Photograph: Reuters Tv/Reuters

Saif al-Islam Gaddafi, the fugitive son of Libya's deceased former dictator, has been arrested in southern Libya, according to officials from the country's new government.

Libyan state TV reported that Saif has arrived in captivity and unhurt at an army base in the town of Zintan, 90 miles south-west of Tripoli.

Muammar Gaddafi's second and highest-profile son was captured along with several bodyguards by fighters near the town of Obari in Libya's southern desert, said the interim justice minister and other officials.

Saif was said to be in good health, according to the justice minister Mohammed al-Alagi.

"We have arrested Saif al-Islam Gaddafi in [the] Obari area," the minister told Reuters.

Saif was captured near the southern city of Sabha with two aides trying to smuggle him out to neighbouring Niger, militia commander Bashir al-Tayeleb said.

Zintan, a base for forces in the Nafusa Mountains which played a key part in the storming of Tripoli in the summer, is reported to have crowds dancing in the streets and waving the Libyan flag.

There are reports that an angry mob tried to storm the plane on which Saif was taken to the western mountain town of Zintan, the home of one of the largest revolutionary brigades in Libya.

Gunfire is echoing across the capital, Tripoli, where large crowds have gathered in Martyrs' Square firing volleys of automatic fire in the air. "A great day, a great day," said Abdullah, a taxi driver, stuck in one of the traffic jams that built up around the square.

A Reuters reporter said a man who appeared to be Saif, but who refused to confirm his identity, was on a plane flown by militiamen to the town.

The man wore traditional robes with a scarf pulled over his face, but his features, visible despite a heavy black beard, as well as his rimless spectacles, conformed to pictures of the 39-year-old younger Gaddafi.

The man's thumb, index finger and another finger were heavily bandaged.

Libyan TV also showed him He is sitting by a bed and holding up three bandaged fingers as a guard looks on.

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two Ferraris in one, with all the extra opportunities for enjoyment that brings

 

Price: About £198,850 
Engine: 4,499cc, V8 cylinders, 570bhp 
Transmission: Seven-speed sequential gearbox, rear-wheel drive
Performance: 199mph, 0-62 in 3.4sec, 21.2mpg official average, CO2 307g/km

In the minds of some, this should not be allowed. That it is suggests that the EU compliance office responsible for certifying vehicle-noise levels has a local branch in Ferrari's home of Maranello, staffed by ex-Ferrari employees. How else can I be sending gloriously explosive soundwaves of fuel-combustion across the valleys of Emilia-Romagna in a brand new, fully certified Ferrari? And discover that, contrary to the likely response in the UK, the locals smile and wave at the source of the sound?

As for me, I'm hearing it in better Sensurround than ever before, as this new version of the 458 Italia is currently roofless. It is called 458 Spider, but unlike previous Spider versions of mid-engined V8 Ferraris, it has not a fabric convertible roof but a hard one made of two flat aluminium panels. Their folding is electro-hydraulically powered, of course.

So the new open Spider is a coupé-cabriolet (CC), which instantly brings notions of extra weight and aesthetic challenge. Few CCs are genuinely good-looking, although the job is easier when there are just two seats and thus a shorter roof. And with the roof in place, the Spider looks much like the Italia coupé. The only obvious differences are the lack of the small rear quarter windows and a different rear deck: while the coupé has a large, sloping rear window through which you can see the engine, the Spider has a vertical rear window immediately behind the occupants and the engine is covered by the panel under which the roof sits when folded. The engine's air intakes are repositioned, too, under slots in the rear deck. Just as well, as leaving them near your ears would be too much of a good thing with roof stowed.

In Race mode, rather than the usual Sport mode, the loudness is on offer all the time, which it is not in the coupé. Ferrari figures that those who buy the open car are especially likely to want to hear the engine, but there are times in towns when the inevitable attention can get embarrassing. Best to keep Race for open spaces. Or tunnels, in which a blast up to the 9,000rpm point of peak power and peak screaming is irresistible.

How much power? An extraordinary 570bhp, making it ridiculously rapid. There is also very strong pulling power from relatively low engine speeds, and gear shifts, the work of a near-instant via shift levers either side of the steering column, are inherently smooth.

As I squirt the Spider through bend after bend, revelling in its grip, thrilling to little tail-slides as I squeeze the power, there's an occasional tremor through the steering column, but that's as far as the disturbance goes. The structure is significantly more rigid than the old F430 Spider's, and it feels it. With side windows up and the little rear window set to the optimal midway position, there's not much buffeting from the wind, either. This is as close to the perfect open Ferrari as it's possible to get.

The Spider has to be stationary to open the roof, but 14 seconds of aluminium choreography later the roof is closed. Now it's just like the coupé inside, albeit 30kg heavier and the view over your shoulder almost non-existent. But, at speed, the roof proves a fine piece of engineering. There is practically no wind noise at all, such is its sealing.

This is truly two Ferraris in one, with all the extra opportunities for enjoyment that brings – even if having the second personality facet does demand an extra £25,675. If you can afford an Italia coupé, though, you can probably run to a Spider. In which case, do it.

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Man arrested over alleged police payments named as Sun journalist

 

A Sun journalist has been arrested as part of Scotland Yard's investigation into alleged payments to police officers by newspapers. The reporter is believed to be Jamie Pyatt, district editor of the paper. The arrested journalist was taken to a South West London police station at 10.30am on Friday. Pyatt, 48, has been working at the Sun since 1987. He is the sixth person arrested by detectives working in Operation Elveden, which was set up in July following allegations that police officers had received up to £130,000 over several years from the News of the World for information, including contact details of the royal family. News International refused to comment on the arrest and saying it had "a very clear duty of care to employees and would not be making any comment on individuals". Scotland Yard also refused to confirm the identity of the person it arrested, but said in a statement earlier that it had arrested a 48-year-old man in connection with Operation Elveden. Its statement said: "He was arrested outside London on suspicion of corruption allegations in contravention of section 1 of the Prevention of Corruption Act 1906, and is being brought to a south-west London police station." Operation Elveden is one of three Met investigations relating to alleged illegal activities by newspapers. The others are Operation Weeting and Operation Tuleta, set up to examine phone hacking and computer hacking, respectively. On Thursday, Scotland Yard confirmed to the Guardian that the number of people whose phones may have been hacked had reached 5,800 – 2,000 more than previously stated. So far 16 people have been arrested and bailed on allegations of phone hacking.

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Italy government hangs by thread as coalition crumbles

 

Italian Prime Minister Silvio Berlusconi's fate hung by a thread Friday and desertions from his crumbling centre-right coalition may have already robbed him of the parliamentary numbers he needs to survive. Berlusconi, caught in the crossfire from European powers and a party revolt at home, agreed at a G20 summit in France to IMF monitoring of economic reforms which he has long promised but failed to implement. But this may soon be irrelevant for the Italian leader, who will return to Rome later Friday to face what looks increasingly like a deadly rebellion by his own supporters. With financial markets in turmoil over the situation in Greece and Italy viewed as the next domino to fall in the euro zone crisis, calls are mounting for a new government to carry through reforms convincing enough to regain international confidence. Berlusconi has consistently rejected calls to resign and says the only alternative to him is an early election next spring, rather than the technocrat or national unity government urged by many politicians and commentators. Yields on 10-year Italian bonds reached 6.36 percent by early afternoon, creeping closer to 7 percent, a level which could trigger a so-called "buyers' strike" where investors take fright and refuse to buy the paper. Two deputies from Berlusconi's PDL party this week defected to the centrist UDC, taking his support in the 630-seat lower house of parliament to 314 compared with the 316 he needed to win a confidence vote last month. But at least seven other former loyalists have called for a new government and could vote against the 75-year-old media magnate. "The (ruling) majority seems to be dissolving like a snowman in spring," said respected commentator Stefano Folli in the financial daily Il Sole 24 Ore. Other commentators spoke of an "inexorable" revolt against Berlusconi. Even Defence Ministry undersecretary Guido Crosetto, a Berlusconi loyalist, said on television: "I don't know how many days or weeks the government has left. Certainly a majority relying on a few votes cannot continue for long." PATRONAGE Berlusconi, one of Italy's richest men, still has significant powers of patronage and he and his closest aides are expected to spend the weekend trying to win back support for a parliamentary showdown Tuesday. Some rebels have already threatened to vote against Berlusconi in the vote to sign off on the 2010 budget. Berlusconi faced concerted calls to resign when he lost a previous vote on this routine measure, which was almost unprecedented. Although it is not a confidence motion, he would come under huge pressure if he suffered a second defeat. "Unpopular prescriptions are necessary and this challenge cannot be faced with a 51 percent government," said UDC leader Pier Ferdinando Casini, in a reference to Berlusconi's weakness and a widespread feeling that the reforms can only be passed with a broad consensus. The premier has promised European leaders that he will call a formal confidence motion within 15 days to pass amendments to a budget bill incorporating new measures to stimulate growth and cut Italy's huge debt. That will be in the Senate where he has a more solid majority but it could still bring him down. Berlusconi, beset by a string of sex scandals and court cases, has consistently resisted pressure from groups ranging from a powerful business lobby to the Catholic Church to stand down.

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The Sierra de la Nieves is surrounded by a belt of nine villages

The Sierra de la Nieves is surrounded by a belt of nine villages, all of which are bound by common characteristics and history that have served to create a region with a strong local identity within the province of Malaga.

Situated in strategic locations, much of their charm is derived from the architecture of their old village centres, which is based on the Arabic model. The visitor can best appreciate the villages by losing himself in their winding, maze like streets and admiring their whitewashed houses. The arrival of the Christians saw the introduction of large squares and straight streets. As a result, in addition to fountains and plants, these mountain villages still retain the typical low walls built to level out the land and facilitate acess to houses built on slopes.

As far as fauna is concerned, the Sierra de las Nieves boasts a number of indigenous species of great importance, as well as being a key port of call on the migratory routes of many birds.

Numerically speaking, the invertebrates are the largest group to be found in one area. One such creature worthy of special mention by virtue of both its peculiarity and its heavy dependance on the Spanish fir for its survival is the small butterfly known as the Dioryctria.

Fish such as barbel, bogue, rainbow trout, carp and black bass will delight anglers in locations such as the River Verde reservoir in Istan, where they co-exist alongside amphibians such as the San Antonio frog, the running toad and the speckled newt.

A wilder, more exotic touch is provided by reptiles such as the freshwater tortoise, the snake and the snub-nosed viper, as well as Iberian birds of prey, notably the golden eagle, the tawny vulture, the goshawk, the sparrowhawk and the peregrine falcon, while bats are the most significant of the cave dwellers. However, standing proudly on the mountain peaks, pride of place among all of these species goes to the mountain goat.

The Biosphere Reserve

Locations rich in natural beauty, ecosystems to be found nowhere else in the world and the habitat of extremely rare animal species as the mountain goat. These were just a few of the reasons that led UNESCO to declare the Sierra de la Nieves Biosphere Reserve on the 15th June, 1995. Proof of the importance of UNESCO's MAB programme was provided by the award of the prestigious Prince of Asturias Harmony Prize in 2001.

This living showcase, a model of co-existence between man and nature, encompasses both the Natural Park itself and the surrounding area, a total of 93,930 hectares. It consists of the entire municipal area of the villages of Alozaina, Casarabonela, El Burgo, Guaro, Istan, Monda, Ojen, Parauta, Tolox, Yunquera and part of Ronda.

Its geological complexity means that the area is home to a number of sharply contrasting landscapes. So, on the one hand we have the white limestone rock of the Sierras Blancas, karstic formations, teeming with canyons, caves, galleries and potholes, and on the other, the red of the Sierra Bermejas. The former is home to two of the deepest potholes in Andalusia which are also among the largest in Europe: GESM and El Aire.

Apart from its unique geographical relief, the characteristic that best typifies this International Reserve is its rich flora. The combination of different climatic conditions that prevail here mean that it is home to a variety of species, ranging from sub-tropical examples such as the palmetto and the arbutus to forests or confiers. Spanish fir groves, mountain gall oaks and laburnums.

However, star billing, botanically speaking, in this mountain range (and, indeed, pride of place overall, along with the mountain goat) must go to the Spanishg fir. Its conical form and dark green colour make it unmistakable among the multitude of other species to be found in the region, which include a wide variety of pines, the yew tree, the holm oak, the cork oak and a number of roiver-bank species, not forgetting the mountain gall oak. Colour and beauty are provided by the flowers that grow in the mountains, such as the peony, the mountain rose, the foxglove, the orchid, the iris and the narcissus.

The Spanish Fir

The pinsapo, as it is known in Spanish, is a conifer belonging to the fir tree family whose origins date back to the end of the last glacier period and which is considered the oldest of all the indigenous Mediterranean firs. The Sierra de la Nieves is home to the largest concentration of this botanical treasure to be found anywhere in the world. This ancient tree, whose cross shaped branches were once carried as amulets during Corpus Christi processions, is notable for its characteristic pyramidal form, its greyish, slightly cracked bark and its smallm stiff leaves.

A number of curiosities surround this beautiful botanical species, whose varieties include the blue Spanish fir, so called in reference to the bluish hue of its leaves, and the candelabra variety. In fact, it is even thought that the masts of many of the vessels that made up the Spanish Armada weere built from this highly valued wood.

The Snow Sellers

In one profession could be said to have typified the Sierra de la Nieves for centuries, then it would be that of the snow seller. This arduous job began at the end of the winter, when teams of men would spend several days on the highest peaks gathering snow in panniers before taking it to pits, where it was pressed and compacted to form ice. The pits were then covered up until summer, when muleteers with their beasts of burden would transport the ice in large blocks to be sold.

The ice, which was used both to conserve food and medication and to make ice creams, was considered a luxury item and provided an important source of commercial and economic activity in the area. The visitor can still find restored ice pits in the villages of Yunquera and Tolox.

The Queen Of The Peaks

The most typical and representative of all the living species that inhabit the Sierra de la Nieves is without doubt the mountain goat, an animal that teetered on the brink of extinction in the mid XX century, when its numbers shrank to just 20, all of which inhabited the Ojen area.

It was for this reason that the species was granted official protection, the area being declared a National Hunting Reserve in order to facilitate the animal's recovery.

Today, the population comes to some 1,500 goats, the animal is the most prized and diifcult to attain of all Spain's big game prey, not to mention one of the rarest species in the whole world, not being found outside of Spain.

Such is the importance of the animal and the extent to which it is associated with this region that attractive metal statues of this impressive beast can be found both at Puerto Rico viewpoint in Ojen, the viewpoint in Refugio de Juanar and near the health spa in Tolox.

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six-year-old female falcons have proved an unmitigated hit through the Alicante portion of the Volvo Ocean Race

 

Abu Dhabi Ocean Racing Team certainly has a strong Abu Dhabi flavour.

 

IAN ROMAN / VOLVO OCEAN RACE

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ALICANTE, Spain // Fern and Ying sat unvisited in the front right corner on Thursday midday. They appeared to relish the solitude even as they declined to comment.

These six-year-old female falcons have proved an unmitigated hit through the Alicante portion of the Volvo Ocean Race, the lines to pose with them often snaking out the door and down the wharf.

"Since I've been here, in three weeks we've done just under 10,000 photographs," said Bryan Paterson, their English owner and handler. "Three weeks. A bit mad, really."

As the Abu Dhabi Tourism Authority (ADTA) and its chairman, Sheikh Sultan bin Tahnoon, have envisioned the Volvo Ocean Race as a fresh way to introduce Abu Dhabi to the world, the pavilion here on the Mediterranean shore has done likewise in microcosm. Nicknamed the "Oasis", it has joined with all the other temporary structures in a temporary neighbourhood.

From left to right, they line the shore in front of the six boats that will make off for the ocean on Saturday: Puma (the American sporting-gear company), then Telefonica (Spanish telecommunications giant), followed by the Volvo pavilion itself, then Abu Dhabi, Groupama (French insurance company), Sanya (a second tourism concern, this time for the Chinese resort island) and Camper (Spanish footwear company).

All along, the longest lines have formed outside Abu Dhabi's vivid red structure, owing to Fern and Ying, and to a booth at which people have their names written in Arabic, and to another booth drawing hand tattoos. Cost to visitors: zero.

 

 

"From our perspective, it has been great, a useful platform to host our guests," said Carla Nebreda, of the ADTA communications team. "It's a great venue to showcase Abu Dhabi."

Last Thursday, for example, ADTA held a gathering as the skipper Ian Walker introduced the crew, providing a bit of insight into each sailor.

Adil Khalid and Butti Al Muhairi, the Emirati sailor and Emirati reserve sailor and Shore Team member, welcomed guests and answered interviewers' questions.

"This has been interesting for people," said Khalid, all set for his first ocean race. "They like to see what Abu Dhabi looks like, and the falcon, that's our heritage. And the handwriting, they love that and they say they're going to post it in their room." The 23-year-old Khalid stopped through to greet visitors and pose for photos at times when not out in the bay or at the row of team base camps that lines the jutting edge of the shore. Visitors have asked one predominant question, according to Paterson, who brought his falcons from England as quarantine regulations mandate that they hail from Europe.

 

 

"They ask you what the connection is," Paterson said. "And so I explain a little about a thousand years of hunting in the desert." Often he explains that on the yacht just steps out the door, a sail showcases a falcon emblem.

The pavilion is two-storey, with its front lobby anchored by a glass-encased replica of the Abu Dhabi village constructed for the third stopover of the 10-stop race. It has a kitchen and an air-conditioned meeting area. Paul Fox, a contractor working for M-Sport, the motorsport company that delivers the pavilion materials, said assembly of the structure required eight men. Almost immediately after the Abu Dhabi yacht Azzam shoves off to sea on Saturday, they will begin the fine art of deconstruction, which will require two to three days.

The entire edifice will fit into three containers, Fox said. From there, this very pavilion will turn up at stopovers in Sanya, China (the fourth), and Lorient, France (the ninth). That means it is likely that Fox will drive it all the way to China and all the way back to France, itself a global adventure, and that Fern and Ying might well turn up again in France. "The birds are really good," Fox said. "They don't bite you or anything."

 

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Wall Street markets are suffering huge falls this morning as fears grow that Europe's plan to save the euro will unravel

Wall Street markets are suffering huge falls this morning as fears grow that Europe's plan to save the euro will unravel before it can even kick in.

Greek Premier George Papandreou said he will put Greece's bailout through a referendum, throwing the long-awaited deal into disarray.

Financial markets around the world have tumbled in reaction to the shock announcement today and U.S. stocks have also fallen at the open.

Wall Street: Financial markets around the world have tumbled in reaction to the shock announcement and U.S. stock futures are down on Tuesday

The Dow Jones opened down 258 points, or 2.2 per cent; the Nasdaq fell 78 points, or 2.9 per cent, and the S&P fell 33 points, or 2.7 per cent.

‘The market did not see this Greek referendum coming, which is potentially a killer,’ said Vermont investment strategist Paul Mendelsohn.

 

 

 

‘It could knock the wheels off the bus of the whole (Europe rescue) plan.’

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Brussels is stifling City of London, Cameron claims

 

David Cameron signalled new European battles ahead as he pledged to resist alleged attempts by Brussels to shackle the City of London in red tape. The Prime Minister echoed claims that the emergence of a two-tier Europe following the financial crisis could result in a wave of EU directives that would harm the Square Mile. The Government has said it is determined to prevent the 17 members of the eurozone acting as a bloc to thwart the interests of the 10 EU states, including Britain, that have retained their own currencies.

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Qantas grounds all flights

 

Australia’s Qantas Airways grounded its entire fleet on Saturday over a bitter labour dispute in an unprecedented move that prompted the government to warn it feared for the airline’s future and would seek action to end the dispute. EDITOR’S CHOICE Strikes cost A$15m-a week in lost sales - Oct-28 US airlines earnings hit by fuel costs - Oct-27 Lufthansa scales back passenger forecasts - Oct-27 Virgin eyes tie-up with Etihad on BMI - Oct-14 Qantas overhauls lossmaking international operations - Aug-16 Qantas said it would lock out all employees from Monday night in a dispute affecting 70,000 passengers and 600 flights on one of the country’s biggest travel weekends. The grounding does not affect Qantas’ budget airline Jetstar or code-share flights on other airlines. Passengers will get a full refund for flights cancelled due to the industrial action, Qantas said on its website. Customers can also rebook their flights for a later date. The announcement took passengers and the government by surprise, embarrassing Prime Minister Julia Gillard who was hosting a Commonwealth leaders summit in Perth. Some of those leaders are booked to fly home on Sunday with Qantas. Unions, from pilots to caterers, have taken strike action since September over pay and opposing Qantas plans to cut its soaring costs, as it looks at setting up two new airlines in Asia and cutting back financially draining long-haul flights. “They are trashing our strategy and our brand. They are deliberately destabilising the company. Customers are now fleeing from us,” Qantas Chief Executive Alan Joyce said.

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Rupert Murdoch: News Corp's great dictator on the brink

 

Several major News Corp shareholders have rebelled against Rupert Murdoch's hold on his media empire by voting against his re-election as chairman. Photograph: Sipa Press/Rex Features Under normal circumstances, Rupert Murdoch doesn't have much patience for the annual shareholders' meetings that are required by law of American public companies. He regards them as a farce, because they cannot change the outcome in a company where a voting majority is secure, and as an exercise in liberal corporate law designed to put him personally on the spot. Still, his handlers, whose job is, in part, to protect him from himself, have long made him train for these meetings as though he's going into a presidential debate. Without rigorous practice, he is quite liable to not pay attention and appear quite bewildered, or pay too much attention and explode in fury, or worse, truthful exasperation. "He's going to keep asking me why there are no women on the board," Murdoch once told me as his PR aide, Gary Ginsberg, was trying to cajole him into a practice session. "He wants to make sure I don't say, 'because they talk too much.'" The fine line at News Corp has always been between Murdoch's almost deadset insistence that he be able to treat the company as his private preserve, and his handlers' (lawyers, CFOs, press people) more straightforward understanding that it is, in fact, a public company. On this basic issue, push could not have come more to shove than at Friday's meeting. The fundamental sham of a public company – one run first and foremost by and for the Murdoch family, and countenanced by one of the famous quiescent corporate boards in American business – was being challenged by long-oppressed but newly galvanised shareholders. It was a recognisable Murdoch in the midst of it all – as combative, determined, up against it and past his prime as the year's other fallen dictators. His hearing is shot and he won't admit it; thus he somehow seems to answer off-point (his handlers are not allowed to mention his hearing issues, but there is a lot of prepping so that he can anticipate the questions). His mind wanders and he has to forcibly refocus; hence his pauses. But he remains sharp as a tack when he feels impatient or personally under fire. Stephen Mayne, his long-time Australian gadfly antagonist, played his part, and Murdoch seemed almost relieved to play his. They've been doing this for years. Of course, there was Tom Watson, the British MP, whom Murdoch seemed to tolerate – if just barely – as an obvious publicity-seeker. And the various others whom he surely believed he had effectively dismissed, both by his own tartness and by closing down the meeting early. In some sense, it rather seemed that Murdoch just regarded this as shareholders – those dumb sons-of-bitches – doing what shareholders always do: complain into the wind. Just a little more so, with a little more security, with the company having to retreat to a fortified room behind the Fox gates (rather than the usual junky theater in mid-town Manhattan where they ordinarily conduct the meeting) – and with Murdoch himself having to offer a bit more self-justification than he might be used to.  

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James Murdoch's future is hanging in the balance after News Corp's shareholders lodged a massive protest vote

. Photograph: David Cheskin/PA

James Murdoch's future at News Corporation looks increasingly precarious as shareholders delivered a damning verdict on his tenure amid widespread criticism of his handling of the hacking scandal.

Following a contentious meeting in Los Angeles last week News Corporation shareholders lodged a massive protest vote against James and his brother Lachlan Murdoch.

A majority of independent shareholders voted against the re-election of chairman Rupert Murdoch's sons James and Lachlan Murdoch. James Murdoch received the largest vote against his re-election at 35%.

James, 38, faces a second grilling in the Parliament next month over phone-hacking at The News of The World, one of News Corp's UKnewspapers. Some 34% of shareholders voted against Lachlan Murdoch 40.

After subtracting the shares controlled by Rupert Murdoch, 67% of the votes went against James Murdoch and 64% against Lachlan, said Julie Tanner, assistant director of News Corp investor Christian Brothers Investment Services (CBIS), who last week called for Rupert Murdoch to step down as chairman after the "extraordinary scandals" at the company. "Shareholders are saying loud and clear that this board has failed as a group," she said.

Rupert Murdoch, chairman and chief executive officer, proved far more popular with investors, receiving 86% of votes, although a sizeable number of shareholders, representing 12 million votes, abstained.

The votes are a particular embarrassment as Murdoch went into the meeting with at least 47% of voting shares on his side, thanks to the family's control of the company's voting shares and the support of their largest outside shareholder, Saudi Prince Alwaleed Bin Talal.

Thanks to the Murdoch's controlling share interest the company defeated attempts to throw the Murdochs and others off the board from major shareholders including the giant Californian pension funds CalPERS and CalSTRS, the Church of England and Hermes, the BT pension fund.

A combative Murdoch faced hostile shareholders at the company's meeting in Los Angeles on Friday and said News Corp was dealing with the situation. While he acknowledged the seriousness of the hacking scandal Murdoch described attacks on News Corp as "unfair" and said the company was the "stuff of legend."

Shareholder critics called for the Murdochs to step down at the meeting and criticised the pay deals of the company's top executives.

The firm delayed releasing the results of the ballot until late Monday. Father Seamus Finn of the Interfaith Center on Corporate Responsibility, who attended the meeting, said: "The vote clearly demonstrates a profound lack of confidence in this company's leadership."

Earlier Les Hinton, former chairman of News International, which runs the company's UK newspapers, had defended James Murdoch saying he saw no reason why he should resign his position.

Michael Wolff, Murdoch biographer and author of The Man Who Owns the News, said it was now inevitable that James Murdoch would leave.

"James will probably go by himself, that's what everybody will be waiting for. I wonder too if Lachlan will step off the board. But could this drag on for another year? Yes."

Wolff said the size of the vote against Murdoch's son had created "a very difficult family moment."

Chief operating officer Chase Carey received strong support from the company's shareholders, garnering 91% of the votes cast. Former New York city school Chancellor Joel Klein collected 96% of the votes cast.

Natalie Bancroft, scion of the family that sold Dow Jones to News Corp, also received a huge vote against, as shareholders called for greater independence on the News Corp board.

Tanner said the votes against the Murdoch sons and Bancroft showed shareholders were serious about wanting more independence at News Corp. "The overwhelming influence of the Murdoch family is not acceptable anymore," she said.

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EU referendum vote reaction

 

Backbenchers have warned that David Cameron will face further rebellions unless he takes a tough line in EU treaty negotiations.: For the record, here is the Press Association's full list of MPs who voted for the motion calling for a referendum on Britain's relationship with the EU. Conservatives • 79 Conservatives voted for the motion. They were: Stuart Andrew (Pudsey), Steven Baker (Wycombe), John Baron (Basildon & Billericay), Andrew Bingham (High Peak), Brian Binley (Northampton South), Bob Blackman (Harrow East), Graham Brady (Altrincham & Sale West), Andrew Bridgen (Leicestershire North West), Steve Brine (Winchester), Fiona Bruce (Congleton), Dan Byles (Warwickshire North), Douglas Carswell (Clacton), Bill Cash (Stone), Christopher Chope (Christchurch), James Clappison (Hertsmere), Tracey Crouch (Chatham & Aylesford), David Davies (Monmouth), Philip Davies (Shipley), David Davis (Haltemprice & Howden), Nick de Bois (Enfield North), Caroline Dinenage (Gosport), Nadine Dorries (Bedfordshire Mid), Richard Drax (Dorset South), Mark Field (Cities of London & Westminster), Lorraine Fullbrook (South Ribble), Zac Goldsmith (Richmond Park), James Gray (Wiltshire North), Chris Heaton-Harris (Daventry), Gordon Henderson (Sittingbourne & Sheppey), George Hollingbery (Meon Valley), Adam Holloway (Gravesham), Stewart Jackson (Peterborough), Bernard Jenkin (Harwich & Essex North), Marcus Jones (Nuneaton), Chris Kelly (Dudley South), Andrea Leadsom (Northamptonshire South), Jeremy Lefroy (Stafford), Edward Leigh (Gainsborough), Julian Lewis (New Forest East), Karen Lumley (Redditch), Jason McCartney (Colne Valley), Karl McCartney (Lincoln), Stephen McPartland (Stevenage), Anne Main (St Albans), Patrick Mercer (Newark), Nigel Mills (Amber Valley), Anne-Marie Morris (Newton Abbot), James Morris (Halesowen & Rowley Regis), Stephen Mosley (Chester, City of), Sheryll Murray (Cornwall South East), Caroline Nokes (Romsey & Southampton North), David Nuttall (Bury North), Matthew Offord (Hendon), Neil Parish (Tiverton & Honiton), Priti Patel (Witham), Andrew Percy (Brigg & Goole), Mark Pritchard (Wrekin, The), Mark Reckless (Rochester & Strood), John Redwood (Wokingham), Jacob Rees-Mogg (Somerset North East), Simon Reevell (Dewsbury), Laurence Robertson (Tewkesbury), Andrew Rosindell (Romford), Richard Shepherd (Aldridge-Brownhills), Henry Smith (Crawley), John Stevenson (Carlisle), Bob Stewart (Beckenham), Iain Stewart (Milton Keynes South), Gary Streeter (Devon South West), Julian Sturdy (York Outer), Sir Peter Tapsell (Louth & Horncastle), Justin Tomlinson (Swindon North), Andrew Turner (Isle of Wight), Martin Vickers (Cleethorpes), Charles Walker (Broxbourne), Robin Walker (Worcester), Heather Wheeler (Derbyshire South), Craig Whittaker (Calder Valley), John Whittingdale (Maldon), Dr Sarah Wollaston (Totnes). • Two Tory MPs voted in both the Aye and Noe lobbies, the traditional way of registering an abstention. They were: Iain Stewart (Milton Keynes South) and Mike Weatherley (Hove). • A further two Tory MPs, Peter Bone (Wellingborough) and Philip Hollobone (Kettering) acted as tellers for the motion. Labour • 19 Labour MPs defied the party leadership to support the motion: Ronnie Campbell (Blyth Valley), Rosie Cooper (Lancashire West), Jeremy Corbyn (Islington North), Jon Cruddas (Dagenham & Rainham), John Cryer (Leyton & Wanstead), Ian Davidson (Glasgow South West), Natascha Engel (Derbyshire North East), Frank Field (Birkenhead), Roger Godsiff (Birmingham Hall Green), Kate Hoey (Vauxhall), Kelvin Hopkins (Luton North), Steve McCabe (Birmingham Selly Oak), John McDonnell (Hayes & Harlington), Austin Mitchell (Great Grimsby), Dennis Skinner (Bolsover), Andrew Smith (Oxford East), Graham Stringer (Blackley & Broughton), Gisela Stuart (Birmingham Edgbaston), Mike Wood (Batley & Spen). Lib Dems • One Liberal Democrat, Adrian Sanders (Torbay) voted for the motion. Others • Green leader Caroline Lucas (Brighton Pavilion) voted for the motion. • Eight Democratic Unionist Party MPs voted for the motion: Gregory Campbell (Londonderry East), Nigel Dodds (Belfast North), Jeffrey Donaldson (Lagan Valley), Rev William McCrea (Antrim South), Ian Paisley Junior (Antrim North), Jim Shannon (Strangford), David Simpson (Upper Bann), Sammy Wilson (Antrim East). • Independent MP Lady Sylvia Hermon (Down North) voted for the motion. 8.41am: Reverberations from last night's vote on the EU referendum will be bouncing around Westminster all day. David Cameron told his MPs yesterday afternoon: "I share the yearning for fundamental reform, and I am determined to deliver it." But when? Michael Gove, the education secretary, was on the Today programme a few minutes ago, doing his best to play down the significance of the rebellion against the prime minister – but even he struggled to explain when Cameron's long-promised renegotiation is going to take place. I'll post a full summary of his interview soon, as well as bringing you all the best reaction, comment and analysis relating to the referendum debate. Otherwise, it's a fairly routine day, although Kenneth Clarke, at the home affairs committee at lunchtime, could make good copy. Here's a full list of what's coming up. 9am: The cabinet meets. 10am: Sir Mervyn King, the governor of the Bank of England, gives evidence to the Commons Treasury committee about quantitative easing. 10am: Unions are launcing a legal challenge to the government's plans increase pensions in line with the CPI measure of inflation rather than the RPI measure of inflation. 10.30am: Keir Starmer, the director of public prosecutions, gives evidence to the Commons justice committee on joint enterprise prosecutions. 10.45am: The Advisory Council on the Misuse of Drugs publishes a report on legal highs. 12.45pm: Kenneth Clarke, the justice secretary, gives evidence to the Commons home affairs committee about the riots. 2.20pm: Maria Miller, the minister for the disabled, the health minister, Paul Burstow, and Grant Shapps, the housing minister, give evidence to the joint committee on human rights on the right of disabled people to independent living.

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Boland launches new radio station on same frequency as Heart

 

HEART FM bosses have denied any bad feeling after controversial DJ Maurice Boland took over their coastal frequency for a new radio venture. The self-styled ‘Mr Marbella’ has left the station and plans to launch his new business later this month. “As far as we are concerned he can have it, it was an amicable agreement,” owner Pat Jay told the Olive Press. But other sources have revealed that there has been ‘considerable tension’ over the fallout, which left Heart FM ‘retrenching’ back inland. “There have been various issues and Pat and husband Lee have been left shattered,” said a friend. Now Boland, 62 – who was sacked from his previous job at Talk Radio Europe (TRE) after an alleged affair with a teenager – is setting up a studio at Estepona’s Kempinski Hotel. According to sources, he has managed to acquire a retail space to work out of and claims to have some big backers. “He has been approaching presenters at other radio stations, but is not offering a lot of money,” said a source.

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Thousands of Telefonica clients disconnected for 5 hours

 

THOUSANDS of Telefonica clients on the Costa del Sol were left without service for five hours. The problem, which affected clients in Marbella, Ronda, Casares and Estepona, last Friday was due to a fault with a commutation network system, and also caused minor problems in Malaga City. According to Telefonica, it affected 20 per cent of communications in Malaga province, however, it did not affect clients with smartphones, which account for 65 per cent of clients in the province. Consumer group Facua said compensation for this can amount to the average of the amount charged over the past three months or five times the monthly tariff calculated proportionately by the time the problem lasted.

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Hells Angel biker rammed intentionally, dragged a mile by East Bay Paratransit bus in San Leandro

 

A paratransit bus driver intentionally rammed a Hells Angels biker on Interstate 580, and then dragged him about a mile, killing him, a CHP spokesman said. The biker, who has not been identified, was traveling eastbound on I-580 in San Leandro near Grand Avenue with a small group of Hells Angels members before 4 p.m. when an altercation began, said CHP Sgt. Trent Cross. After being hit, the motorcyclist and his bike were dragged for about a mile, said San Leandro police Lt. Greg Lemmon. Eventually, the biker was released from under the East Bay Paratransit bus, but the driver kept dragging the motorcycle, which was wedged underneath the front grill, until the vehicle stopped on the shoulder just east of the 150th Avenue onramp. The Hells Angels biker was flown to Eden Medical Center in Castro Valley, where he was pronounced dead, Lemmon said. The bus driver has been arrested, Lemmon said. Police are interviewing four witnesses who saw the incident. "The preliminary information they are providing was that it wasn't an accident, it was an intentional ramming," Lemmon said. All eastbound lanes were closed from Grand Avenue to 150th Avenue so police could conduct a homicide investigation over a large swath of freeway, Cross said. The lanes were expected to remain closed until 10 or 11 p.m., he said, and there were significant traffic delays in the area. An East Bay Paratransit manager referred calls to First Transit, a Advertisement contract agency that operates the bus. The First Transit representative did not return calls. No passengers were on board the bus during the collision, said San Leandro police Sgt. Doug Calcagno. The paratransit bus provides door-to-door service for people unable to ride regular public transit because of disabilities. It has been a tragic autumn for the Hells Angels motorcycle club. San Jose chapter President Jeffrey "Jethro" Pettigrew was killed outside a Nevada casino last month. At his packed funeral Oct. 15, Steve Tausan, a 52-year-old Hells Angels enforcer and friend of Pettigrew's, was shot dead.

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Stockton search for Hells Angels slaying suspect comes up empty

 

A man suspected of fatally shooting a member of the Hells Angels at a recent funeral in San Jose was not holed up in a Stockton home Saturday as police had believed. Steve Ruiz, 38, of San Jose is being sought for allegedly shooting and killing fellow Hells Angels member Steve Tausan, 52, after the two fought Oct. 15 at a funeral for a slain motorcycle club member, according to police. Police had received information that Ruiz had been hiding out at the three-bedroom home on the 3700 block of McDougald Boulevard in Stockton, said San Jose police Sgt Jason Dwyer. Investigators asked Stockton police and the San Joaquin County sheriff's office to serve a search warrant for the home, but both agencies were unavailable, Dwyer said. As a result, San Jose police drove tactical vehicles to the scene. Neighbors said they had seen San Jose police at the scene, calling out to someone in the home to surrender. But after storming the home and firing tear gas at about 8 p.m. Saturday, police came up empty-handed and left. The occupants of the home "are new to the area or they're new to the house" after moving in several months ago, said Noelia Trelles, whose sister-in-law lives next door. "I think we live in a pretty crazy world, but it's still crazy that it's happening in the neighborhood," Trelles said. Ruiz and Tausan were among thousands of Hells Angels members who attended a funeral for Jeffrey Pettigrew, president of the San Jose chapter of the motorcycle club, at the Oak Hill Funeral Home and Memorial Park on Curtner Avenue. After the shooting, Ruiz, 38, of San Jose disappeared and one or more people tampered with the crime scene, washing away bloodstains and removing evidence of the shooting, police said. Police found Ruiz's motorcycle at the funeral, Lt. Alan Cavallo said. Ruiz has not come to claim it. Authorities initially speculated that it was possible Ruiz had been killed and possibly buried along with Pettigrew. Investigators obtained a search warrant to dig up Pettigrew's grave, but Ruiz's remains were not found, Cavallo said. But now investigators say they have proof that Ruiz is alive and "actively evading law enforcement," Dwyer said. Ruiz is believed to have two black eyes "and other facial injuries consistent with being in a fight," Dwyer said. Police said Ruiz is in the company of Christel Renee Trujillo, 42, also known as Christel Renee Ferguson, and that her life "is now in danger." The two are possibly traveling in a gold or pewter Chevrolet Suburban. No year of the vehicle or license plate number was available. Ruiz has family and associates in Arizona and New York and may try to contact them, Dwyer said. Police said Pettigrew was shot and killed Sept. 23 by Ernesto Manuel Gonzalez, an alleged member of the rival Vagos motorcycle gang, at John Ascuaga's Nugget casino in Sparks, Nev. Gonzalez, 53, of San Jose was arrested by a UCSF police officer in San Francisco six days later. Tausan and the manager of the Pink Poodle, a strip club west of San Jose, were tried for murder in 1999 in the beating death of a club customer two years earlier. They were acquitted on grounds of self-defense.

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The slain Libyan leader Moamer Kadhafi secretly spirited out of Libya and invested overseas more than $200 billion

 

The slain Libyan leader Moamer Kadhafi secretly spirited out of Libya and invested overseas more than $200 billion -- double the amount that Western governments previously had suspected, The Los Angeles Times reported late Friday. Citing unnamed senior Libyan officials, the newspaper said US administration officials were stunned last spring when they found $37 billion in Libyan regime accounts and investments in the United States. They quickly froze the assets before Kadhafi or his aides could move them, the report said. Governments in France, Italy, England and Germany seized control of another $30 billion or so. Earlier, investigators estimated that Kadhafi had stashed perhaps another $30 billion elsewhere in the world, for a total of about $100 billion, the paper noted. But subsequent investigations by US, European and Libyan authorities determined that Kadhafi secretly sent tens of billions more abroad over the years and made sometimes lucrative investments in nearly every major country, including much of the Middle East and Southeast Asia, The Times said. Most of the money was under the name of government institutions such as the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank, the Libyan National Oil Corporation and the Libya African Investment Portfolio, the paper pointed out. But investigators said Kadhafi and his family members could access any of the money if they chose to, the report said. The new $200 billion figure is about double the prewar annual economic output of Libya, The Times noted. Kadhafi, who lorded over the oil-rich North African nation for 42 years, met a violent end on Thursday after a NATO air attack hit a convoy, in which he was trying to escape from his hometown of Sirte. He survived the air strike but was apparently captured and killed after a shootout between his supporters and new regime fighters.

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RBS staff told to pay for their own Christmas party

 

Another day, another downgrade. Reduced to surviving on two pints of lager and pack of crisps at recent Christmas parties, misery was heaped on Royal Bank of Scotland's highly-paid investment bankers on Friday as they were told that they would have to fund this year's bash entirely out of their own pocket.

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HMRC clamps down on Swiss account holders

 

6,000 Britons who hold money in the Swiss arm of HSBC will soon receive a letter telling them that they need to own up to unpaid tax. The bank is acting on information received last year under a tax treaty. This revealed that more than 6,000 individuals, companies, trusts and other bodies held accounts and investments with HSBC Geneva. HMRC has already begun criminal and serious fraud investigations into more than 500 individuals and organisations holding these accounts. HMRC will shortly be writing to those who have not yet come forward, or are not under investigation. They will be offered a chance to contact HMRC and disclose all their tax liabilities, HMRC said. Fines of up to 200 per cent of any tax may, in certain circumstances, be imposed on people not coming forwards during this window for disclosure. "This is not an amnesty. There are no special rates of penalty or interest for those who come forward voluntarily," said HMRC's Dave Hartnett. "This is an opportunity for those who have made errors in past returns to correct them. The net is closing on offshore evaders. Don't wait for HMRC to contact you."

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FSA broke its own rules in Keydata probe, judge rules

 

High Court judge found that the Financial Services Authority (FSA) had wrongfully used privileged emails to bring its case against Keydata. A further "relief hearing" will now determine the impact of the ruling, which could de-rail the case altogether. It is the latest in a line of setbacks for the regulator, which has been investigating regulatory breaches at Keydata and millions of pounds of missing retail funds for two years. Keydata invested in "life settlement funds", which buy and sell US life insurance and generate high returns. In June 2009 the FSA applied for Keydata's closure "to protect investors", saying it was concerned about "potentially missing assets". The business was fast-tracked into administration and referred to the Serious Fraud Office (SFO). It emerged that £103m of life insurance policies managed by a Luxembourg business, SLS Capital, and sold to Keydata investors as low-risk bonds might have been "misappropriated".

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US to pressure Iran over 'plot to kill Saudi envoy'

 

US Attorney General Eric Holder says the alleged conspiracy was "conceived, sponsored and directed from Iran" Continue reading the main story Related Stories Clinton hails break-up of 'plot' Middle East rivalries play out in US The US secretary of state has called for a "very strong message" to be sent to Iran, after allegations of a plot to kill the Saudi ambassador to the US. Hillary Clinton said Washington was preparing new penalties against Iran, which is already subject to a variety of international sanctions. Two Iranians were charged over the plot which US officials said implicated Iran's Revolutionary Guard Corps. Meanwhile the US issued a worldwide alert about possible anti-US actions. "The US government assesses that this Iranian-backed plan to assassinate the Saudi ambassador may indicate a more aggressive focus by the Iranian government on terrorist activity against diplomats from certain countries, to include possible attacks in the United States," the alert said. It urged Americans residing and travelling abroad to review the information available when making travel plans. Iran has dismissed the allegations as false and baseless. Continue reading the main story “ Start Quote The idea that they would attempt to go to a Mexican drug cartel to solicit murder-for-hire to kill the Saudi ambassador, nobody could make that up, right?” Hillary Clinton US secretary of state 'Well-grounded suspicions' Mrs Clinton praised those involved in the operation to uncover the plot. "It was a terrific achievement by our law enforcement and intelligence communities, and we will be consulting with our friends and partners around the world about how we can send a very strong message that this kind of action, which violates international norms, must be ended," she said at a news conference. "This case will, I think, reinforce the well-grounded suspicions of many countries about what they're up to." Mrs Clinton said the suspected plotters had been trying to involve hired killers from Mexican drug cartels. "The idea that they would attempt to go to a Mexican drug cartel to solicit murder-for-hire to kill the Saudi ambassador, nobody could make that up, right?" she said. US Attorney General Eric Holder said Iran's involvement in the plot was "a flagrant violation of US and international law". Continue reading the main story Analysis Mohammad Manzarpour BBC Persian There is a long history of animosity between Iran and Saudi Arabia which stretches back to before the Islamic Revolution of 1979. Religiously, the Wahhabi rulers of Saudi Arabia and the Shia clerics of Iran reject each other's interpretation of Islam. Geopolitically, the two are staunch rivals, engaged in a seemingly never-ending battle for greater regional influence. They have also been engaged in proxy wars for decades, taking different sides in the Iran-Iraq war, Afghanistan, Lebanon and the Palestinian territories. But it is the Saudis' military intervention in Bahrain which may have prompted the alleged plot. It was little criticised in the West but was seen in Iran as a blatant assault on the Shia majority in Bahrain. In a statement, UK Prime Minister David Cameron's office said: "Indications that this plot was directed by elements of the Iranian regime are shocking... We will support measures to hold Iran accountable for its actions." US officials have said military action was not being considered. The US Treasury Department placed five Iranians, including the two men charged, under sanctions on Tuesday for their alleged involvement in the plot. The two accused were named as Manssor Arbabsiar, a 56-year-old naturalised US citizen with dual Iranian and US passports, and Gholam Shakuri, based in Iran and said to be a member of Iran's Quds Force, a unit of the Revolutionary Guard Corps. The other three were described as high-ranking members of the Quds force. Mr Arbabsiar, who was arrested at New York's John F Kennedy airport on 29 September, has confessed to his involvement in the alleged plot, Mr Holder said. A lawyer for Mr Arbabsiar said he would plead not guilty when he was officially indicted. 'Shocking' Mr Shakuri was said to be in Iran. US officials said that on 24 May 2011, Mr Arbabsiar made contact with an informant for the US Drug Enforcement Agency, who was posing as a Mexican drug cartel member. Manssor Arbabsiar appeared at a court in New York City on Tuesday Over a series of meetings, it is said that details emerged of a conspiracy involving members of the Iranian government paying $1.5m (£960,000) for the assassination of Saudi ambassador Adel al-Jubeir on US soil. Justice department officials said the initial envisaged target was the Saudi embassy. But in conversations secretly recorded for the US authorities, Mr Arbabsiar also allegedly considered having the ambassador killed at a purported favourite restaurant, despite the possibility of mass casualties. The plot would have been carried out with explosives, Mr Holder said. But he added that no explosives were ever put in place and the public was not in danger. Mr Holder said Mr Arbabsiar, with approval from Mr Shakuri, wired $100,000 to a US bank account for the informant as a downpayment. Mr Arbabsiar and Mr Shakuri have been charged with conspiracy to murder a foreign official, weapons conspiracy, and conspiracy to commit international terrorism charges. Continue reading the main story “ Start Quote The choice of ambassadorial target is a direct expression of the acerbic tensions in the Middle East between Saudi Arabia, a key US ally, and Iran” Kim Ghattas BBC News, Washington Alleged plot reflects Middle East rivalries Unnamed US officials also told journalists that the Israeli embassy in Washington was also to have been attacked. Iran's official Islamic Republic News Agency called the charges a "propaganda campaign" by the US government against Tehran. The allegations were "a comedy show fabricated by America", Iranian foreign ministry spokesman Ramin Mehmanparast told the semi-official Iranian news agency, Fars. Mr Arbabsiar appeared briefly at a New York City court on Tuesday. He did not enter a plea and was held without bail. He could face a life prison sentence if convicted on all charges, the Department of Justice said.

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US issues travel alert linked to Iran plot

 

The US State Department late on Tuesday issued a worldwide travel alert for US citizens, warning of the potential for anti-US action after the United States accused Iran of backing a plot to kill Saudi Arabia's ambassador to Washington.   Murder Plot Iranians charged over assassination plot / Reuters American authorities uncover plot to bomb Israeli, Saudi embassies in Washington, assassinate Saudi ambassador Full story "The US government assesses that this Iranian-backed plan to assassinate the Saudi ambassador may indicate a more aggressive focus by the Iranian government on terrorist activity against diplomats from certain countries, to include possible attacks in the United States," it said in a statement on its website.   The alert expires January 11, 2012, it said.

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Spanish banks in €6bn merger talks

 

Banco Popular, Spain’s fifth-biggest listed bank by assets, has offered to buy its smaller listed rival Banco Pastor in a merger that marks a new stage in the restructuring of the country’s financial sector. In filings published on Friday by the Comisión Nacional del Mercado de Valores (CNMV), the market regulator, the banks said they were proposing a friendly all-share deal in which Popular would offer to buy 100 per cent of Pastor. More ON THIS STORY Dismay at Spanish bank restructuring Spain nationalises three more savings banks In depth European banks Santander predicts return to big profits Global Insight Italy and Spain The CNMV had earlier suspended trading in shares of Popular, with a total market value of €4.99bn, and of Pastor, valued at €827m, apparently after news of the discussions leaked before the planned announcement on Monday. At Friday’s share prices, the Popular offer represented a one-third premium for Pastor and valued the target bank at 0.75 times book value, according to the Pastor camp, although Popular’s share price could fall once the suspensions are lifted. CaixaBank, the banking arm of the Barcelona-based La Caixa savings bank, was valued at 0.8 times book value at its flotation earlier this year, but Bankia, comprising Caja Madrid and six others, managed only 0.4 times when it was listed. Three savings banks seized by the official bank rescue fund last month were valued at between zero and 0.12 times book. Until now, the Bank of Spain and the Spanish government have focused on forcing unlisted savings banks to recapitalise themselves and merge with each other to reduce costs and improve efficiency after the collapse of the Spanish housing and construction bubble. Listed banks have been seen as potential buyers rather than takeover targets. “This is only the start,” said one person aware of the talks as the boards of the two companies held separate meetings. “There is going to be a huge shake-out in the banking sector.” Popular is a national Spanish bank that has focused on retail banking and lending to small and medium-sized businesses, while Pastor’s activities are concentrated in the north-western region of Galicia. Pastor – along with four Spanish cajas or savings banks – was one of the nine European banks that failed Europe-wide stress tests in July.

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Strictly star Chelsee Healey says she loves showing off her £3,000 boob job

 

As a teenager Chelsee Healey was afraid to take her top off even in front of a boyfriend. 

But, fast forward a few years and with a £3,000 investment in her appearance, the Strictly Come Dancing star is happy to flaunt her chest on national television. 

Chelsee, 23, is among stars on the show who've come under fire for wearing skimpy outfits during their performances. 

Thrilled: Chelsee Healey was ashamed of her 'droopy boobs' before she went under the knife

The actress, who appears on Waterloo Road, flew to a Marbella-based surgery to have her cosmetic procedure.

 

More...

• So is all that flesh Strictly necessary? Stars told to cover up as judge Len Goodman calls show 'celebrity job centre'
• 'Bonza, you beauty!' Jason Donovan blows the competition out of the water on second night of Strictly

 

And she raided her trust fund to pay for the operation, which boosted her chest from a C-cup to a 32DD. 

She told Now magazine: 'I'd hated my boobs for as long as I can remember. I'm naturally outgoing, but in this area I lacked self-esteem. By the time I was 19, I was desperate to change. I took £3,000 from a trust fund my dad had set up for me. I knew I'd never be happy until I got the shape I wanted.'

Ashamed of her saggy boobs, it wasn't until her friends pushed her to go for it in 2007 after a holiday to Puerto Rico, that Chelsee finally went to Spain and under the knife.

Proud of her assets: Chelsee Healey pushes her chest out at the Inside Soap Awards - she spent £3,000 on her 32DD boobs

Now over the moon with her new chest, she is often seen wearing low cut tops.

She told Now: 'I'm thrilled with them. They're round, firm and perfect and now I'm happy to show them off.'

However, Chelsee has come under fire on the BBC dancing show for her revealing outfits.

After receiving a few nasty comments on Twitter, she said: 'I was happy with the outfit, but if you come out dressed like that it can make a bad first impression.

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Tiger Woods' most famous mistress got married Sunday in Las Vegas.

Rachel Uchitel's two-year nightmare is over.

Tiger Woods' most famous mistress got married Sunday in Las Vegas.

The chapel wedding took place two years, almost to the day, after Woods' last outing in Sin City before his world -- and reputation -- unraveled six weeks later. The golf great was spotted celebrating at Tao Las Vegas' star-studded four-year anniversary and Lavo's one-year anniversary.

Uchitel, a former host at Tao, was in Marbella, Spain, at the time, orchestrating some of Woods' activities.

Her decision to invite Las Vegas night-life regular Ashley Hollingsworth Samson to Marbella led to Samson's $25,000 paycheck from The National Enquirer for going public with Uchitel's romance with Woods.

Uchitel and boyfriend Matt Hahn, a former Penn State football player, got married on impulse Sunday while in town to attend the wedding of their friends.

The Uchitel-Hahn wedding took place at the Little White Chapel, where Britney Spears married childhood friend Jason Alexander over New Year's weekend in 2004. Bruce Willis and Demi Moore tied the knot there on Nov. 21, 1987.

Uchitel and Hahn, with 12 friends, danced into the chapel at 11 p.m. to Beyonce's hit "Single Ladies," according to TMZ.com. After the wedding, they departed to Katy Perry's "Waking Up in Vegas."

It was anything but an all-night celebration for the newlyweds. They were back at her grandmother's by midnight, according to TMZ.

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