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Money | Anorak - Part 52

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Money in the news and how you are going to pay and pay and pay

Baronet’s Widow Jailed For Benefit Fraud: Former Husband Had 100-Room Mansion

IN court a baronet’s widow and partner have been jailed in a benefits case. Graham Young was at Isleworth Crown Court, in west London, where he was jailed today, along with his partner Oriol Bowden, over a housing benefits scam of more than 90,000. She as once the wife of Sir Frank Bowden, whose grandad set up the Raleigh cycle firm.

Sir Frank owned a 100-room Oxfordshire home. He was an avid collector of Japanese swords and armour. His pet cheetah Chiu was allowed in the house and to ride on the passenger seat of Sir Frank’s car. Oriol Bath became his third wife in 1989.

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Posted: 29th, October 2010 | In: Money | Comment


Katrin Radmacher Prenuptial Runs Roughshod Over UK Law And God

KATRIN Radmacher, 40, is the German paper company heiress who has established in the Supreme Court that prenuptial agreements are binding. The deal leaves her former husband, Frenchman Nicolas Granatino, 38, with 1 million of her estimated £106 million fortune. The Court of Appeal had slashed his divorce settlement of £5.85m .

Pre-nups do not currently have a place in British family law.

And Granatino seems to have done pretty well – the original 1998 agreement stipulated that neither party would benefit financially if the marriage ended.

Says Radmacher:

“I am really pleased with the ruling but saddened at the four-year process that brought us to this point. I am delighted that Britain has upheld fairness. It is important to me that no one else should have to go through this.”

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Posted: 20th, October 2010 | In: Money | Comment


Mukesh Ambani’s Home Big Enough For India’s Olympic Village

MUKESH Ambani’s house in Mumbai is called Antilia. It costs £630, has 27 storeys, a 50 seat cinema, a ballroom, a roof garden with an actual roof high enough to accommodate trees and has parking for 160 cars. It is less a home than it is a district.

It is hideous, a carbuncle in a sprawling city of low-rise squalor and flashy new money.

Should India follow its Commonwealth Games efforts with a successful bid for the Olympics, they could stage it in Ambani’s home and forgo any need for a new stadium.

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Posted: 14th, October 2010 | In: Key Posts, Money | Comment (1)


Card Provider MBNA Launch Two New Products In UK

Sponsored post from MBNA

Bank of America subsidiary MBNA has announced the launch of two brand new cards for the UK market, both of which come with lengthy 0% balance transfer periods. They provide holders with market leading credit card offers, one aimed at customers seeking a balance switch*; and the other for those wanting both a transfer and purchase package.

Speaking about the new cards, Will Curley, product executive for Bank of America Europe Card Services, said: “We know from speaking to our customers, and potential customers, that they are looking for credit card lenders to deliver greater choice and better offers to the UK credit card market. Once customers are approved for one of our cards, they will be able to transfer a balance of up to 95% of their credit limit, as the cap MBNA sets on balances transfers is higher than most other lenders in the UK market.”

The new MBNA Balance Transfer credit card comes with 0% on balance transfers for 16 months (made within the first 60 days from account opening) as well as 0% on card purchases for the first three months. It has a transfer fee of just 2.9% and a lower than average standard interest rate of 16.8% APR (typical) variable.

The second card, called the MBNA Dual credit card gives holders 0% for 12 months on both balance transfers and card purchases. Transfers must be made within the first 60 days and a low 2.98% handling fee for balance and money transfers applies. The standard rate of interest is 18.9% APR (typical) variable.

Speaking about the additional benefits of being with MBNA UK, Mr Curley said: “We are one of only a handful of UK lenders who already allocate our customers’ repayments to their highest interest-bearing balances first; we stopped issuing credit card cheques all together earlier this year, we are developing new and exciting improvements to our mobile and online channels, and we are continuing to deliver a suite of products that offer real value for customers.”

Those interested in applying for either credit card can do so at MBNA’s website: http://www.mbna.co.uk.

* Note: As of 3pm on Thursday 23rd September 2010

Posted: 6th, October 2010 | In: Money | Comments (7)


Joe McNamara You Legend: Irish Hero Takes On Toxic Anglo Irish Bank In Cement Lorry (Photos)

JOE McNamara – You Legend. It was Mr McNamara, originally from Achill Island, Co Mayo, who daubed the legend “Toxic Bank Anglo” on barrel of his cement truck and drove it into the guarded gates of the Dail at Leinster House on Kildare Street, Dublin. You could hear the cheer in London.

Mr McNamara was nicked. He went to Dublin District Court with his solicitor Cahir O’Higgins after he was charged with one count of criminal damage.

Meanwhile, the Irish economy is shafted. It’s Black Thursday. The country’s Financial Regulator expects the final cost to the Irish taxpayer to bail out Anglo Irish Bank to be as much as 34bn euros.

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Posted: 30th, September 2010 | In: Money | Comments (4)


The Easiest And Hardest Jobs In The World: 2 Videos

FROM the people (us) who brought you a video of the Hardest Job in The World (repeated below – and it is a must see), we bring you the Easiest Job in The World – Escalator cleaning at Shanghai Pudong Airport.

You can do this.

And the hardest:

Posted: 30th, September 2010 | In: Key Posts, Money | Comment


Segway Owner’s Fatal Accident Joins List Of Corporate Fails: Ratner Still Wins

WHEN Segway owner Jimi Heselden drove his motorised scooter off a cliff and died, he joined a long list of corporate leaders who have managed to make their product look less than great. We present a selection of epic corporate fails: Hoover, Tony Hayward, David Shepherd; John Schnatter and the great Gerald Ratner…

GERALD RATNER

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GERALD RATNER In 1991, Gerald Ratner, head of the eponymous Ratners jewellers, addressed the Institute of Directors: "We also do cut-glass sherry decanters complete with six glasses on a silver-plated tray that your butler can serve you drinks on, all for £4.95. People say, 'How can you sell this for such a low price?', I say, 'because it's total crap'." Also earrings sold by Ratners were "cheaper than an M&S prawn sandwich, but probably wouldn't last as long". And so 18 months later he left the firm – what was left of it. The day before his comments, the company had announced record pre-tax profits of £110m, bucking the consumer recession. It was even on the verge of buying Dixons, the electrical chain. Within weeks, £500m was wiped off the company value and Ratner was forced out of the firm with a £375,000 pay off. The company, which plunged into a £122m loss, was renamed Signet to expunge Ratner's name from the nation's memories. Not that everyone saw it coming. Says Ratner: “I’d not been home long when Charles Saatchi called. ‘There’s a fantastic piece in the Evening Standard,’ he said. ‘There’s a good line about you calling some of your products crap. It works really well. You come across as a really great guy with a good sense of humour. It’s terrific PR.’”

Posted: 27th, September 2010 | In: Money | Comment


Lehman Brothers Art Sale: Turn Your Downstairs Toilet Into A Bank

LEHMAN Brothers, that monolith of banking that Gordon Brown sucked up to and then went bust, had a nice collection of art. Because, hey, readers, how can you run a bank if you don’t have expensive art on the walls? You can’t.

At Christie’s, anyone wanting to start their own bank can buy the art that once adorned the walls and offices of the British and European arms of the former banking powerhouse before being declared bankrupt in 2008.

You can even buy the sign that once hung over the door and turn your downstairs toilet into a merchant bank (Lucky Pin not supplied)…

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Christie's employee Susanna Routledge walks past two pieces of artwork from the Lehman Brothers sale during a photo call at Christie's in west London, before it goes under the hammer on September 29.

Posted: 24th, September 2010 | In: Money | Comment (1)


Intel Drops Staffers Off Building In Romania: Video

INTEL has been dropping staffers from a high building. You middle-managers can only look on in envy.

Posted: 19th, September 2010 | In: Money | Comment


Sexy Jenny Quits Her Job On Whiteboards And Gets Work At Anorak (In Pictures)

STEVEN Slater, the JetBlue trolley dolly who quit his job in spectacular style has a rival called Jenny. She used messages on a whiteboard to address her colleagues. She wants them to know that her boss Spencer has a bad temper and smelly breath. She claims Spencer called her a “hot piece of ass” in an overheard phone call – although he used the acronym “H.O.P.A.” (Hell Of a Pain in the Ass?). Jenny heard what she wanted to hear. Jenny is nothing if she is not vain.

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Posted: 11th, August 2010 | In: Money | Comment


Hells Angels Leader Falls Fouls Of Failed Benefits System

IN Luleå, Sweden, Kent Nilsson, a Hells Angels gang leader has fallen foul of the local benefits agency – he’s been nicked the Insurance Agency for committing crime while on sick pay for a bad back. The argument goes that if his back was bad he would not have been able to commit crimes he’d been sentenced for.

Nilsson, who has been claiming State benefits since 1998, sad his back was so bad he could not endure long car rides. Earlier in court he had been convicted of smuggling alcohol after travelling in a car from northern Sweden to Germany. That was after he’d loaded up a car with loadsa booze.

Nilsson has until August 28th to pay back 1.4 million kronor after which time he will be charged additional interest.

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Posted: 7th, August 2010 | In: Money | Comment (1)


Billionaires Give Away Money But Will Muddle Along On Remaining Billions

BILL Gates and Warren Buffett (£96bn combined) have led a The Giving Pledge campaign that will see 40 billionaires give away half their fortunes to charity and “good causes”. If this still leaves you with a billion or more in the bank, then grandstanding your generosity – you get to write letter explaining how nice you are to the world – may not lead to a big reduction in living standards for the donors.

And then the donors can pledge to give the money after they die. Sign up now and Buffett will stop asking you to sign up. Although if you delay singing up long enough he may start offering inducements, like a free tumbler, a free tumbler factory or to have France renamed in your honour.

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Posted: 4th, August 2010 | In: Money | Comment


Truth In Insurance

TRUTH in Insurance?

And now a word for these fine firms:

aa-booze

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Posted: 4th, August 2010 | In: Money | Comment


Billingsgate Protest Is Chance For Union To Flex Muscles

THE fish men of London’s Billingsgate Market in London are demonstrating against planned changes to the way the market is run by the City of London Corporation. Members of Unite at the historic market said they were fighting for their jobs because of proposed changes to the licensing of employees. namely the porters. Says the union:

“Licensed porters are central to the character and success of Billingsgate market. Their knowledge of the market, understanding of products, sizes and grades as well as commitment to the job make porters the life and soul of the market. The Corporation of London’s changes, if implemented, will damage how the market functions, ruin Billingsgate and destroy the market’s heritage. Unite is arguing there is absolutely no reason to suddenly change what has worked for centuries.”

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Posted: 3rd, August 2010 | In: Money | Comment


Working Past 65 Is Not A Right For Partners But Is A Media Scare sTory

EMPLOYMENT law news now, readers, The Express leads with news that “Workers can be forced out at 65”.

Or as the Mail puts it on its front page:

“NOW THE RIGHT TO WORK PAST 65.”

Says the Mail:

Workers will no longer be forced to retire at 65 from next year under radical Government proposals to be unveiled today…

From next October, it will be illegal for firms to get rid of staff when they reach 65, allowing millions who are facing retirement to stay on, the Daily Mail has learned.

Says the Express:

MILLIONS of workers face being thrown out of their jobs when they reach 65 after a landmark legal ruling yesterday. Employers will be able to force staff to retire against their will if they can prove it will help younger employees, the Court of Appeal ruled.

The Express’s featured case is based on one Mr Leslie Seldon. He was forced to retire his role as partner at Clarkson Wright and Jakes, in Orpington, Kent, a law firm where he had worked as a civil litigator for 35 years. His removal was “in line with his partnership agreement”.

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Posted: 29th, July 2010 | In: Money | Comment (1)


BP Urged To Pump More Bullshit Into News Gulf: Greenpeace Moves Bowels

THE sign outside the BP service station on Hampstead Road, London, says: “Closed. Moving beyond petroleum.”

Moving beyond petroleum… OK. But as a slogan it goes only halfway. What are we moving on towards? And how are we moving there? Are we moving on tofu? Clockwork? Bollocks? Can bollocks make energy? What about lies and information? If lies were info, BP shares would be surely soaring with every photoshop gush.

BP today announced losses of £11bn for the second quarter of this year and confirmed chief executive and jobbing Michael Sheen look-alike Tony Hayward will be replaced by Bob Dudley.

Or will he? If bullshit is power, BP needs to up its output.

Says Mr Hayward, displaying once more his gift for language:

“Sometimes you step off the pavement and get hit by a bus.”

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Posted: 28th, July 2010 | In: Money | Comments (4)


Tony Hayward Heads To Russia: Next Stop North Korea

WE spotted BP boss Tony Hayward (a shoo-in to play Michael Sheen in a biopic of the actor’s life) being driven away from the offices of BP, in St James’s Square, central London. The BP man has his life back.

And it’s a life that will be  put to use within the group’s Russian joint venture. Yeah, they’re sending him to Russia as a non-executive directorship at TNK-BP.

TNK – Tomorrow North Korea

Tony Hayward Gets His Life Back In Russia – 11 Others Still Waiting

Posted: 26th, July 2010 | In: Money | Comment


Does BP Cross Its Fingers And Photoshop The Truth?

BP is doing pretty well in the financial markets. But on the web, the company is faring less well. On the firm’s website, there’s a “View of the MC 252 site from the cockpit of a PHI S-92 helicopter 26 June 2010”.

Only, the picture seems to have been tampered with. Gawker’s Brian Barrett notes the airtraffic control tower is in views, the sea merges two oceans and the “readouts on the dash appear to indicate that that door and ramp are open and the parking brake engaged”.

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Posted: 22nd, July 2010 | In: Money | Comment


In Pictures: Anti-BP Protestors Pour Oil Over BP’s Sponsorship Of Oil Paintings

TO protest at BP’s sponsorship of the arts, demonstrators poured oil and feathers over the entrance to Tate Britain, in Pimlico, central London, which is hosting the Tate Britain summer party. Yep, to highlight how awful BP is at polluting things, demonstrators gave cleaning staff a really horrible job to do on a very hot summer’s day. And as for oil on canvas being unfit for BP to sponsor… Well, you want edgy art? You can’t handle edgy art…

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Demonstrators pour oil and feathers outside the entrance to the Tate Britain, in Pimlico, central London, which is hosting the Tate Britain summer party, as part of a protest against BP sponsorship of the arts.

Posted: 28th, June 2010 | In: Money | Comment


BP Gulf Judge Martin Feldman’s Oil Stocks

THE BP oil is still spilling in to the Gulf of Mexio. Obama is looking at matters in Afghanistan. Obama’s sacked General Stanley McChrystal for talking to Rolling Stone magazine before Michelle and the kidzz got their photo montage and cover. But the press is looking at Judge Martin Feldman. Tim Worstall looks too:

The judge who overturned deepwater drilling bans allowing BP to resume oilTransocean and other firms in the industry, it was revealed today.

Yesterday, a Louisiana-based judge Martin Feldman ruled that Barack Obama’s six-month drilling moratorium in the Gulf was unjustified because it assumed that all deepwater drilling was as dangerous as BP’s.

The White House promised an immediate appeal.

Meanwhile environmental groups have said Feldman’s ruling may have to be rescinded because of the possible conflict of interests.

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Posted: 24th, June 2010 | In: Money | Comment


BP Boss Tony Hayward Rides The Oily Gulf Stream At Isle Of Wight Yacht Race: Pictures

EARLIER we reported that BP’s PR nightmare Tony Hayward had a yacht called Bob. The swanky boat was cutting through the Isle of Wight’s waters in the JP Morgan Asset Management Round the Island Race. ITV news reports that Hayward was in the vicinity of the yacht.

The Isle of Wight is in the English Channel – a ribbon of sea warmed by the, er, Gulf Stream. The warm water comes from the Gulf of Mexico via the North Atlantic Drift. Might it bring some oil?

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Posted: 19th, June 2010 | In: Money | Comments (2)


British Petroleum V Obama: Henry Waxman And His League Of Gentlemen

BARACK Obama is grandstanding about British Petroleum. The British must be routed and theier backsides whooped. They are not local, you see. They are not Henry Waxman.

Barack Obama Is Less Popular Than Offshore Drilling: BP News Round-Up

American environmental disasters for American people!” goes the cry. Says one Obama aide:

We will have American environmental disasters for American corporations, if it’s all the same with you and your tea, Mr Britisher Man. We want none of your imported disaters. If you want to export your toxic wave go to India, lke we did.

The British are not local. Local things for local people eh, Mr Waxman…

The BP Oil Spill Gets A Dead Whale And Barack Obama Alienates America’s Friends

Posted: 18th, June 2010 | In: Money | Comments (8)


The BP Oil Spill Gets A Dead Whale And Barack Obama Alienates America’s Friends

VICTIMS of the BP Gulf of Mexico oil spill have a totem – a dead 25-ft sperm whale has washed up on the beach. And BP has Joe Barton.

Barack Obama Is Less Popular Than Offshore Drilling: BP News Round-Up

While the UK turns on Obama and realises that all that hope was just hype and hoopla, Americans are moving against their self-serving, grandstanding president.

BP Disaster 2: Carl-Henric Svanberg Feels For The ‘Small People’

Rep. Joe Barton has apoligised to BP at the start of Tony Hayward’s grilling. Hayward is the victim of a £20billion “shakedown”, a “slush fund” with “no legal state“.

Obama has the money. Big Government has the money. Lots of contracts need to be signed to clean the spill. And Big Government can do it better and more openly than corporations with shareholders?

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Posted: 17th, June 2010 | In: Money | Comments (10)


BP Disaster 2: Carl-Henric Svanberg Feels For The ‘Small People’

OBAMA’S vanity and desperation versus BP’s unoiled PR machine. It’s one helluva fight. And here comes BP chairman Carl-Henric Svanberg. He’s says:

“I hear comments sometimes that big oil companies are greedy companies and don’t care, but that is not the case with BP. We care about the small people.”

Take that Gulf fishermen and hoteliers. File it away with your small hands in your small homes in your small minds.

Visit msnbc.com for breaking news, world news, and news about the economy

In other news, there’s a betting market on BP going bankrupt by 2011:

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Posted: 17th, June 2010 | In: Money | Comments (8)


The BP Wave – The Fish In Oil Picture

BP has a wave…

via: here and I am Matt Jordan

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Posted: 16th, June 2010 | In: Money | Comments (6)