BlackBerry: Possible Sale To Secure Future

Struggling smartphone maker BlackBerry has confirmed it will consider entering joint ventures, partnerships or even a full sale of the company.

The Canadian firm said its board has formed a special committee to explore "strategic alternatives" in hopes of boosting sales of its BlackBerry 10 smartphone.

BlackBerry has been hammered by increased competition from Apple and its Android-based rivals.

In January, BlackBerry unveiled new phones running a revamped operating system called BlackBerry 10 designed to better compete, but its market share continues to lag.

The company's shares rose 4.5% on the Nasdaq in early Monday trading.

BlackBerry also announced that board member Prem Watsa, the company's largest investor, resigned from the board "due to potential conflicts that may arise during the process".

Mr Watsa has said he is a "big supporter" of current CEO Thorsten Heins, and he would be an obvious bidder for BlackBerry.

He has said he believes BlackBerry can turn itself around, but that it might take three to five years.

The BlackBerry, pioneered in 1999, had been the dominant smartphone for business people and other consumers before the iPhone debuted in 2007.

The company faced numerous delays modernising its operating system with the BlackBerry 10.

During that time, it had to cut more than 5,000 jobs, and shareholder wealth declined by more than $70bn (£43bn).

BlackBerry said there is no guarantee of a transaction and declined to comment further.

00.25 | 0 komentar | Read More

Britain's Most Wanted Fraudsters Revealed

By Martin Brunt, Crime Correspondent

Police have released the faces of 25 of the most wanted identity fraudsters who have been caught in the act.

They allegedly stole other people's personal details and then tried to use their own photographs to get passports, driving licences and other official documents.

Some of their victims may have had information taken in burglaries or muggings, others may simply have been intimidated into revealing it.

The scam is often used by organised gangs to commit crimes such as money laundering, drug trafficking and illegal immigration, say investigators.

Nigel Kirby, of the Serious Organised Crime Agency (SOCA), said: "Be in no doubt, these fraudulently obtained documents are being used by criminals for criminal purposes.

"Passports and driving licences do not just allow you to travel and drive, they are important identity documents that can be used to support applications for mortgages, bank loans and benefits."

The Crimestoppers charity wants the public's help in tracking down the 25 alleged fraudsters.

Director of operations Roger Critchell said: "We need to protect ourselves from such criminals, particularly now with data-driven identity crimes making up the vast majority of all fraud in the UK."

Identity theft is the fastest growing type of fraud in Britain, and hit an all-time high last year with 150,000 identifiable victims, according to the UK's Fraud Prevention Service CIFAS.

:: Anyone who recognises any of the suspects can contact Crimestoppers on 0800 555 111 or online

00.25 | 0 komentar | Read More

Elon Musk Unveils 'Hyperloop' Futuristic Travel

The blueprint for a "Hyperloop" transport system capable of reaching speeds of 760mph has been unveiled.

A conceptual design sketch of the transport capsule. Pic: Elon Musk

The system would enable people to travel 400 miles from Los Angeles to San Francisco in 30 minutes at near-supersonic speeds.

It is designed to be self-powering, uses magnets and fans to shoot capsules carrying passengers on a cushion of air through pressurised tubes.

Passengers would be transported in capsules through tubes. Pic: Elon Musk

The revolutionary invention is the brainchild of billionaire entrepreneur Elon Musk, who has called the system a cross between a "Concorde, a railgun, and an air hockey table".

The founder of electric car maker Tesla Motors and private space exploration firm SpaceX, released a 57-page document outlining the project.

What the inside of a capsule would like with the doors open at a station

"Short of figuring out real teleportation, which would of course be awesome ... the only option for super-fast travel is to build a tube over or under the ground that contains a special environment," he wrote.

He said the system was capable of speeds up to 760mph (1,220kph), and would best work between cities closer than 900 miles.

Magnets and powerful fans would shoot the capsules through tubes

The estimated cost of connecting Los Angeles and San Francisco is $6bn (£3.9bn), which could translate to a fare of about $20 (£13) for a one-way ticket.

He has no plans to build the system immediately, but said he wanted to reveal a detailed design of the concept to allow others to brainstorm ideas and improve on his vision.

The 42-year-old, who was born in South Africa but is a US citizen, is also the head of SolarCity, a company which makes solar panels for homes and businesses.

Musk is the founder of electric car maker Tesla Motors

He also has a foundation that focuses on education, clean energy and child health.

He banked his first millions when he sold Zip2 to US computer maker Compaq for more than $300m (£194m) in 1999.

His next company, X.com eventually merged with PayPal, the online payments firm bought by internet auction giant eBay in 2002.

00.25 | 0 komentar | Read More

Rail Fares To Rise By 4.1% In January 2014

Rail users will face an increase of around 4.1% in fares in the new year after new inflation figures were revealed.

Campaigners have been protesting at 50 train stations across the country against the rise of fares compared with average earnings.

Retail price index (RPI) inflation rose by 3.1% in the year to July, down from 3.3% last month, but regulated fares - such as season tickets - will rise by an extra 1% when the new prices are announced from January.

Campaigners claim fares have risen three times faster than wages in the last six years.

The next price hike will be the sixth time in seven years that rail fares have outstripped wages, they say.

Between 2008 and next January rail fares will have jumped by 40%, compared with a 15% increase in average earnings, it is claimed.

The Trade Union Congress (TUC) warned unregulated tickets could rise by 9%, against forecasts of a 2.4% increase in average earnings next year.

It said rail privatisation was costing taxpayers £1.2bn a year despite "minimal" investment in trains and stations.

The TUC and the Action For Rail campaign group organised demonstrations at stations including Birmingham New Street, Bristol Temple Meads, Glasgow Central, Manchester Piccadilly, Newcastle Central and London's Paddington, King's Cross and Victoria.

Campaigners protested at King's Cross and other stations

Rail Maritime and Transport union leader Bob Crow said: "This latest inflation-busting hike in fares is a kick in the teeth for the British people who are condemned for another year to pay the highest prices in Europe to travel on clapped-out, overcrowded and unreliable trains while the private operators are laughing all the way to the bank."

Transport Secretary Patrick McLoughlin said nobody liked paying more for fares but the Government was investing heavily in the railways.

"Nobody likes to see rail fares go up. I don't like to see it and passengers don't like to see it," he said.

"We are massively investing in the railways, with £130m being spent here at Nottingham, £800m at Reading and £600m at Birmingham.

"Running the railways is a very expensive business."

Shadow Transport Secretary Maria Eagle told Sky News that some train companies were "fiddling" the fare cap.

"A 4.1% average increase, yes, but up to 9.1% because the current government gave back to train companies the power to increase some fares by an extra 5% on top (of RPI)," she said.

"The first thing they could and should do is put a stop to that."

00.25 | 0 komentar | Read More

Housing Market Recovery 'Round The Corner'

House price rises are now being seen across the country as activity grows following the financial crisis.

According to the latest housing market report by the Royal Institution of Chartered Surveyors (Rics) there are signs a recovery is "round the corner".

The West Midlands and the North East, areas which Rics said have "suffered more than most" since the market crash, experienced the biggest increases in buyer activity in July.

And growth in buyer numbers was seen across the UK as the upswing in activity, which has been particularly concentrated in London and the South East, spread outwards.

Around 53% more surveyors reported increases rather than falls in demand.

As buyer numbers strengthened, prices rose across the country for the fourth month in a row, growing at their fastest rate since the market peak of November 2006, Rics said.

Looking ahead, a balance of 35% more surveyors expect prices to continue their increase rather than fall, while 53% more surveyors expect sales to rise over the next three months.

The Rics figures were released ahead of official statistics which also showed an acceleration in prices.

The building of new houses is picking up as demand increases

In the 12 months to June, the Office for National Statistics said UK house prices increased by 3.1%, up from a 2.9% increase in the year to May.

The ONS found that house price growth remained stable across most of the UK, though London was increasing faster than the UK average.

Peter Bolton King, Rics global residential director, said: "It is clearly good news that those parts of the property market that were struggling are at last showing some signs of life."

Lenders, estate agents and property websites have been reporting big uplifts in activity this year following the launch of various Government schemes to unblock the housing market.

The Communities Secretary Eric Pickles

More first-time buyers have been seen entering the market and sellers also appear to be more confident about sticking close to their asking prices amid improved mortgage availability.

But fears have been raised that the initiatives must not lead to a property bubble.

A Government scheme called Help to Buy is in particular focus.

The Communities Secretary Eric Pickles has insisted Government initiatives are creating a "sustainable" boost in UK housing.

He made the remark as his department released figures showing reservations for new-build homes under Help To Buy had reached 10,000.

Mr Pickles said the equity loan scheme was "giving the confidence to house builders to deliver and build more new homes" and that house building was now at its highest level since 2008.

Between October 2010 and October 2012, 319,000 additional homes across England were added to the supply, according to the figures, with more than 150,000 affordable homes added.

Repossessions were also at a six-year low and mortgage arrears at their lowest since 2008, officials said.

Labour's Shadow Housing Minister Jack Dromey painted a different picture - despite welcoming Government help for first time buyers.

He said: "David Cameron's Government has presided over the lowest level of homes built than any other peacetime Government since the 1920s.

"Their failure to build the affordable homes the country needs means there is real concern that this scheme (Help to Buy) will do little to bring the cost of housing within the reach of low and middle income earners."

00.25 | 0 komentar | Read More

Cold Winter Boosts E.On Profits By 15%

Profits at energy firm E.on surged by almost 15% in the first half of the year, boosted by the cold start to 2013.

The company, one of the so-called "big six" UK energy suppliers, said it made £273m in the first six months of 2013.

This is an increase of 14.7% on the same period in 2012.

E.On insisted its profit margin was on a similar level to the previous year despite a rise to 6.25% from 5.97%.

It was the last of the major players in the market to hike its bills - by an average 8.7% - having pledged to keep its pricing on hold during 2012.

UK boss Tony Cocker insists E.On's bills are fair

The industry has blamed price increases largely on soaring wholesale prices and none of the top six firms has been able to rule out further rises to bills ahead of the coming winter.

E.On, which has around five million customers in the UK, has insisted it does not make excessive profits.

While its UK business saw profits grow 15%, the E.On group suffered a 15% fall in earnings for the half year.

UK chief executive Tony Cocker said: "We are continuing to work hard for our customers, make improvements to service and operate a sustainable business that delivers a fair profit.

"The colder start to the year meant more energy has been used, so sales are up; the costs we control have come down at a time when those we don't control are continuing to rise; meaning that ultimately whilst our profit has increased slightly our overall supply profit margin is very much in line with last year.

"Our absolute focus remains on simplifying our products, improving our customer service and, quite simply, making sure we do the right thing."

He concluded: "The proof of all the changes we've made is evident in improving customer feedback."

The energy regulator Ofgem recently revealed that the "big six", which also include British Gas, nPower, SSE, EDF and Scottish Power, collectively made more than £3bn in profits over the last three years on the back of a £300 annual rise in bills.

Last month, nPower estimated that bills would increase by a further £240 by 2020 - £100 more than the Government's estimates.

00.25 | 0 komentar | Read More

Financial Fair Play: Football Clubs Strained

Almost a third of football clubs in the Championship and League One could sell up in the next 12 to 18 months, according to a new study.

Following the launch of Financial Fair Play (FFP) rules, which aim to regulate football finances, 65% of clubs surveyed said they rely on funding from principle shareholders to stay afloat.

It comes as many continue to feel the squeeze struggling with funding gaps, while staying competitive on the pitch.

The study, by accountancy firm BDO, surveyed 66 teams from the English Premier League, Football League Championship, Football Leagues One and Two and the Scottish Premiership.

According to the research, 28% of Championship club owners and 36% of League One club owners are considering a full or partial exit in the next season.

Trevor Birch, a business restructuring partner in BDO's Professional Sports Group, said: "Intense competition for a limited number of promotion places has pushed the majority of Championship and League One clubs into the red and created a dependency on principal shareholders bankrolling trading shortfalls.

"In this context, we now see around a third of existing owners seeking a full or partial exit. 

"While a similar proportion of clubs are being approached by new external investors, in reality there is a dwindling number of genuine potential owners outside the Premier League."

However, the study also suggests that some clubs are starting to come to terms with Financial Fair Play, with 85% expected to adhere to the rules in 2013/14 without changing their business models.

And 10% plan to meet the regulations following major revisions of their financial plans, and the remaining 5% will not comply for at least one further season.

Mr Birch added: "Though many would prefer the sport to find its own sustainable financial equilibrium, the pressure on clubs and their owners for success has not allowed this to happen.

"This is why it is important for the FFP regulations to be embraced not just in letter but in spirit."

He said: "The initial signs suggest that clubs are taking the new requirements seriously and beginning to adapt their behaviour in the way the football authorities intended, which is encouraging."

00.25 | 0 komentar | Read More

Osborne And Cameron 'More Trusted' On Economy

Voters' confidence in George Osborne and David Cameron's ability to manage Britain's finances has risen sharply in a fresh blow to Labour.

An ICM survey for the Guardian revealed the pair have opened up a massive lead over rivals Ed Miliband and Ed Balls when it comes to running the economy.

It found 40% of voters had confidence in the Tory party on the central issue, a major leap from 28% back in June.

The Labour leader and his shadow chancellor were well behind on 24%, despite enjoying a five-point jump in their own rating over the same period.

In further bad news for Ed Miliband, Labour only had a three-point lead over the Tories when it came to overall voting intentions.

The poll put Labour on 35% and the Tories on 32%, which when taking into account the margin of error could make the lead non-existent.

The public do not trust Ed Miliband and Ed Balls as much on the economy

It piles more pressure on Mr Miliband, who returned from a two-week family holiday on Monday amid criticism about a lack of leadership.

Prominent Labour MPs have complained about a summer of "deafening silence" from the shadow cabinet that has allowed the Tories to set the agenda.

There is also disquiet that the Opposition has still not fleshed out policies in key areas, with just 21 months until the next election.

The rise in confidence in Mr Osborne and Mr Cameron on the economy follows encouraging figures last month which put growth at 0.6% in the second quarter of 2013.

It also appears to show that Labour's move to make the rising cost of living a key theme of its attack on the coalition's handling of the economy is not working.

This is despite people's continued pessimism about their own money, with more expecting their financial situation to worsen (29%) than improve (24%) over the next year.

Both of the main parties lost voting share, most of which were picked up by the UK Independence Party which rose three points to 10%.

The Lib Dems were up one at 14%.

David Cameron at Battersea Dogs and Cats Home on Tuesday

Left-wing groups have also expressed concerns about Labour's direction and attacked Mr Miliband for attempting to reform the party's union ties.

In a letter to The Guardian, film director Ken Loach, poet Michael Rosen and Only Fools And Horses actor Roger Lloyd Pack called for a new party of the left.

It said: "This summer will be remembered for Labour's final betrayal of the working-class people it was founded to represent.

"Not content with signing up to Conservative austerity measures that are dragging Britain's most vulnerable people deeper into poverty, Ed Miliband has turned his back on the union members who supported his leadership bid."

The signatories claimed Mr Miliband had failed to blame the economic crisis on "unfettered capitalism" and asked why he had not vowed to reverse the coalition's so-called "bedroom tax".

"We urgently need a new party of the left. Labour will not provide the opposition to coalition policies that the situation demands," the letter said.

The Left Unity group, which could vie for union funding, plans to hold its founding conference in November and says it already has more than 9,000 people signed up.

:: ICM Research interviewed a random sample of 1,001 adults by telephone on August 9-11.

00.25 | 0 komentar | Read More

Inflation Eases As Clothing Costs Fall

The falling costs of air fares and clothing have contributed to a slight easing in the headline rate of inflation.

The CPI measure stood at an annual rate of 2.8% in July, according to the Office for National Statistics (ONS), down from 2.9% the previous month.

The ONS said that discounting by fashion retailers and the lower air fares offset higher prices at the fuel pumps.

Clothing and footwear costs dropped by 3.2% from June as summer sales kicked in - with T-shirts and women's blouses among the bargains - while the price of a long haul air ticket fell.

But the lower rate of inflation will do little to ease the squeeze on households, with the rise in the cost of goods and services continuing to outpace wage growth, which increased by just 1.7% in the year to May.

The wider inflation figures also confirmed that commuters face a 4.1% surge in regulated rail fares next year.

The RPI measure, which dipped to 3.1% in July from 3.3% in June, means passengers face the sharp rise in ticket prices from January because regulated fares are pegged to the index in July - plus 1% - under the Treasury's current formula.

The Bank of England recently forecast that CPI would not rise above 3% this year.

Its Inflation Report was somewhat overshadowed by confirmation that the new governor, Mark Carney, was launching 'forward guidance' to give the public and investors some sense of certainty over the future direction of monetary policy.

The bank, which targets a CPI level of 2%, said it would be keeping the base rate of interest at its record low until the unemployment rate fell below 7% - not expected for three years.

Pressures on inflation have included fuel costs and factory gate data released on Tuesday suggested there would be no let up.

Crude oil costs for manufacturers rose at their fastest rate for a year in July.

00.25 | 0 komentar | Read More

US Airways-American Airlines Merger Challenged

The US Justice Department and a number of state attorneys general have challenged the proposed $11bn (£7bn) merger between US Airways and American Airlines.

The Justice Department says the merger would result in the creation of the world's largest airline and reduce competition for commercial air travel in local markets.

A lawsuit filed in the federal court in Washington seeks to prevent the companies from making the deal in order to preserve head-to-head competition.

American Airlines parent company, AMR Corp, and US Airways Group Inc had no immediate comment.

Shares of both companies plunged on Tuesday, and other airline shares fell sharply as well.

American Airlines filed for bankruptcy protection in 2011

In February, the two airlines disclosed their plans to create a company with 6,700 daily flights and annual revenue of roughly $40bn (£26bn).

But Attorney General Eric Holder said the transaction between US Airways and American would result in "higher airfares, higher fees and fewer choices".

Were the deal to be approved, the four biggest US airlines - American, United, Delta and Southwest - would all be the products of mergers that began in 2008.

Last year, business and leisure airline travellers spent more than $70bn (£45bn) on airfare for travel throughout the United States.

American parent AMR Corp has cut costs and debt since it filed for bankruptcy protection in late 2011.

Pilots from both airlines have agreed on steps that should make it easier to combine their groups under a single labour contract, a big hurdle in many airline mergers.

The attorneys general were from Arizona, Florida, the District of Columbia, Pennsylvania, Tennessee, Texas and Virginia.

00.25 | 0 komentar | Read More