Money | Anorak - Part 74

Money Category

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

Why China Backs Mugabe’s Zimbabwe: Money

CHINA supports the Mugabe regime in Zimabawe. Why? Why:

In a series of barely reported developments over the years, the Mugabe regime has progressively “nationalised” – i.e., expropriated – these assets, culminating in a deal with China in 2005 when he sold mining rights to China. The foreign exchange earnings made from this deal have kept the regime alive, allowing Mugabe to buy what he needs, and keeping his supporters financed.

China also keeps Mugabe supplied with weapons to underpin his power base – at enormous expense. In June 2004 alone, Zimbabwe purchased from China 12 FC-1 fighters and 100 military vehicles worth an estimated $240 million. The order actually went above and beyond the $136 million defence budget.
The huge wealth from mining revenues, directed straight into Mugabe’s coffers, the amount of financial leverage that the UK – with or without the EU – can exert is minuscule. In fact, EU aid between 2002 and 2007 was worth €107.5 million and in 2008, the “assistance” is expected to be around €25 million.

This compares with the recent increase in platinum production, from 90,000 ounces per year to 160,000 ounces annually. Additionally, through a parallel deal with the Chinese, nickel production has increased from 1,540 tons to 2,900 tons annually. As a result, reported in May of this year, mineral exports, with the exception of gold, for the first four months of the current year stood at $302 million.

And Gordon Brown condemns it all in the strongest possible terms. No chance…

Posted: 14th, July 2008 | In: Money, Politicians | Comment

LibDems Want Subsidised Flooding Risk


Liberal Democrats : Flood insurance must cover those at most risk – Webb

Commenting on the announcement that insurers have agreed to cover households with a flood risk of up to one-in-75 years, Liberal Democrat Shadow Environment Secretary, Steve Webb said:

“It is all very well making insurance available, but it must be affordable to people living in the most vulnerable homes.

And how is that going to work? What he actually means is that he wants people to pay less than the risk demands, do you think the insurance companies are going to subsidize the bad risks?

No. And, er, no…

Posted: 14th, July 2008 | In: Money, Politicians | Comment (1)

Alan Rusbridger And Emily Bell Make The Media Guardian’s 100

THE Guardian newspaper’s MediaGuardian 100 is “our annual guide to the most powerful people in the industry. Candidates are judged on three criteria – their cultural, economic and political influence in the UK.”

This arbitrary test of media might is decided by a panel of ten, including:

Janine Gibson, executive editor of and editor-in-chief of MediaGuardian.
Jane Martinson, editor of MediaGuardian.
Brent Hoberman, a non-executive director of Guardian Media Group

The questions is: where does the panel place the Guardian and its editor?

Read the rest of this entry »

Posted: 14th, July 2008 | In: Broadsheets, Money | Comment

Only Olympic Judo Winners Get Paid

A SURVEY by the Sunday Herald Sun, Australia, says Britain pays nothing to Olympic champions, except those who triumph in judo.

Given the recent headlines on youth crime and the Jeunesse D’ore’s favoured hobby of kebab-shop-stabbing, the British taxpayers’ money is safe when it comes to awarding trials of unarmed combat.

But why should any Olympic athlete get paid anything? Do you get paid to run about, hopping and swimming all day?

Posted: 13th, July 2008 | In: Back pages, Money, Tabloids | Comment (1)

Bigger Bills For Bigger Bras At M&S

SAYS Beckie Williams, founder of Bust 4 Justice, on Radio Five Live: “That’s fair enough. But they don’t apply the same policy to other clothes that use more material and more resources to make as well.

“I just think it should be one policy for all items of clothing.”

Ms Williams beef is with Mark and Spencer which charges more for some of its bras that are DD cup or larger.

Williams calls it “an unfair tax”. Says she: “This is not something that we have chosen… If you don’t charge a size 20 woman more for a pair of trousers, then why should you pay more for an E cup bra?”

This appears to be an oversight on the part of retailers who will most probably respond to Williams’ campaign by upping the cost of clothing in larger sizes.

Posted: 11th, July 2008 | In: Money | Comments (6)

McDonald’s Responds

THAT McDonald’s response in full…

Posted: 11th, July 2008 | In: Money, Photojournalism | Comment

The Credit Crunch Bites

CREDIT Crunch bites…

Posted: 11th, July 2008 | In: Money, Photojournalism | Comment (1)

Wanted: Blind Air Traffic Controller

SAYS the advert for an air-traffic controller at St Mary’s airport, Isles of Scilly:

“If you require this document in an alternative language, in larger text, Braille, easy read or in an audio format, please contact the Community Relations Officer.”

It’s political correctness gone maaad….

Posted: 11th, July 2008 | In: Money, Strange But True | Comments (4)

Toyota Employee Worked To Death

A SENIOR car engineer at Toyota died from working too many hours. He succumbed to ischemic heart disease in January 2006.

The 45-year-old man was developing a hybrid version of Toyota’s successful Camry line at the time of his death. A victim of global warming?

In the two months leading up to his death, the man averaged more than 80 hours of overtime per month, his wife’s lawyers said. Workers in Japan often put in very long hours and “sudden death from overwork” is referred to as karoshi.

John Prescott, non-hybrid Jaguar driver, is 70.

Posted: 10th, July 2008 | In: Money, Politicians, Strange But True | Comments (3)

Iain Dale’s Total Politics Is Heat For Ugly People

IAIN Dale, the wannabe MP Tory blogger, is involved in a magazine called Total Politics. Lord Michael Ashcroft’s money is buying:

Total Politics is a lifestyle magazine dedicated to all things political. Our overarching goal is to be unremittingly positive about the political process and to bring you the most interesting, informative and insightful features and commentary from across the UK and the world

It will sell politics to people who have bought a magazine about politics. But what’s unique about it?

Read the rest of this entry »

Posted: 9th, July 2008 | In: Money, Politicians | Comments (6)

MEPs Get Their Own Train


European parliamentarians have been enjoying their first ride aboard their very own train. The high-speed Thalys train has launched a new, direct service from Brussels to the French city of Strasbourg exclusively for MEPs.

The service is an effort to silence growing discontent over the ‘travelling circus’, which involves the entire European Parliament uprooting to the Alsacian capital for its monthly plenary session at a cost of 200 million euros a year…


Posted: 8th, July 2008 | In: Money, Politicians | Comment

American Woman Has Sex For Petrol

THE petrol crisis:

JULY 2–A Kentucky woman is facing prostitution charges for allegedly trading sex for gasoline. Angela Eversole, 34, was nabbed last weekend during a police stakeout at a Days Inn, where she allegedly trysted with customer Kenneth Nowak. According to court records, Nowak admitted paying for Eversole’s services, in part, with a $100 Speedway gas card. Eversole was hit with a prostitution rap and also charged with doing business without an occupational license. Nowak was charged with promoting prostitution. Eversole and Nowak are pictured below in mug shots snapped following their June 27 arrests. A local prosecutor noted that it was sad to see someone selling their body for gas, in this case about 25 gallons worth.


Posted: 7th, July 2008 | In: Money | Comments (3)

AP Is Watching Bloggers

Business Week looks at how the big publishers are watching the bloggers:

The AP, a not-for-profit news cooperative owned by thousands of subscriber newspapers, has been using a system from Redwood City (Calif.)-based startup Attributor. Like other content recognition systems, Attributor’s software extracts a small digital fingerprint—a string of bits unique to a given article, song, or video—and collects them in a database. Then it continually crawls billions of Web sites and blogs, much as Google does when a user launches a search, to detect where that fingerprint recurs. In the recent incident, AP had unearthed instances where its content—at times whole articles—was posted to the liberal-leaning Web site Drudge Retort. Other Attributor customers include Thomson Reuters (TRI), Condé Nast Publications’ CondéNet, and the Canadian Press. The AP and Attributor declined to comment on the incident.

Copy And…

Posted: 2nd, July 2008 | In: Money | Comment (1)

The Welfare State Generates Wealth, Apparently

Oh dear:

It isn’t capitalism that generates wealth. It’s competition matched by a strong welfare state.



Posted: 30th, June 2008 | In: Money, Politicians | Comment (1)

Nicholas Sterns On Carbon And Brass

SIR Nicholas Stern doing well:

Lord Nicholas Stern, author of the UK’s Stern report on climate change, will launch a new carbon credit ratings agency on Wednesday, the first to score carbon credits on a similar basis to that used to rate debt …

The agency, run by the IdeaCarbon group of which Lord Stern is vice-chairman, said it would offer investors a guide to the quality of credits and the likelihood that they would be delivered. Sellers of carbon credits would have to pay to have their products rated, while buyers would also pay to gain access to the ratings.

Making money from climate change…

Posted: 28th, June 2008 | In: Money | Comment (1)

Caroline Lucas Eats Locally

GREEN MEP Caroline Lucas wants local things for local people:

She concluded: “A re-localisation of our food systems would allow us take back control of our food from industrialists and financiers, and to feed a growing population in a way that is equitable and sustainable, while safeguarding human health, as well as the welfare of animals and the environment.

Let’s hear it for the Dark Ages…

Posted: 26th, June 2008 | In: Money, Politicians | Comment

The Crisis In Newspaper Journalism

OUTSOURCING a newspaper to India:

An Indian company will take over copy editing duties for some stories published in The Orange County Register and will handle page layout for a community newspaper at the company that owns the Pulitzer Prize-winning daily, the newspaper confirmed Tuesday.

Time to invest in Anorak…


Posted: 25th, June 2008 | In: Money | Comment

Op-Ed Quote Of The Day: Derrick Z. Jackson On Iraq And Oil

hack_price_of_oil.jpgOIL and Iraq:

IT TOOK five years, the deaths of 4,100 US soldiers, and the wounding of 30,000 more to make Iraq safe for Exxon.

Derrick Z. Jackson, Boston Globe

Picture: Matt Buck

Posted: 25th, June 2008 | In: Money | Comment

WPP And Robert Mugabe

IAIN Dale writes on his his blog:

The Advert WPP Must Hope You Will Never See

Today’s FT has a story that I find shocking in the extreme. The Company working to keep Robert Mugabe in power in Zimbabwe is part of Martin Sorrell’s WPP Group! At first I thought this must be a smear as the implications are so bad for his business. However, WPP have been forced to admit to the FT that it is true, and that the company behind Mugabe’s adverts that have incited the murder of 80 opposition campaigners is indeed part of the Young and Rubicam Group that WPP owns.

Zimbabwe isn’t working…


Posted: 22nd, June 2008 | In: Money, Politicians | Comment (1)

Edith Macefield Dies

macefield.jpgEDITH Macefield has died: Reports the SeattlePI:

Edith Macefield died at home, just the way she wanted.

The Ballard woman who captured hearts and admirers around the world when she stubbornly turned down $1 million to sell her home to make way for a commercial development died Sunday of pancreatic cancer. She was 86.

“I don’t want to move. I don’t need the money. Money doesn’t mean anything,” she told the Seattle P-I in October.

Read the rest of this entry »

Posted: 20th, June 2008 | In: Money, Strange But True | Comments (2)

Ryan Air Promises A Blow Job In Business Class

RYAN Air’s no frills, straight-down-to-business airline:

As befitting any budget, prices can go up and down and up and down (yes, we get the picture – Ed)…

Posted: 20th, June 2008 | In: Money | Comments (9)

Financial Spread Betting: HBOS, Sterling Surges And Consumer Spending

HBOS, the country’s biggest mortgage lender, says it expects the number of houses sold across the country this year to fall by 45%.

And those houses that do sell will do so for “up to 9%” less than now.

Citigroup expects house prices to drop by 20% and volumes 50% by the end of 2009. HBOS and Citigroup are depressed. Banks are as bout as loved as, well, bankers. Shares in both banks are way down the on the year.

Read the rest of this entry »

Posted: 20th, June 2008 | In: Money | Comments (2)

The Thong Woman On Fame And Fortune In America

A WOMAN has been hurt, allegedly, by her thong underwear.

This is how America works. If anyone is preparing a capsule on American culture to bury in the ground or zoom into space, they should put this video in it. It’s the US media, the US legal system and the US economy in microcosm:

Knickers. And those trousers

Posted: 19th, June 2008 | In: Money | Comments (11)

Daily Mail – Daily Wail: Money Causes Cancer

DAILY Mail Cancer Story Of The Day:

BBC: “Cancer deaths ‘higher in north'”

Death rates from cancer are higher among people living in the north than in the rest of England, research shows.

The National Cancer Intelligence Network (NCIN) looked at data from 2005, and found death rates in the north were around 20% higher.

Cancer deaths were lowest in the south and midlands.

DAILY MAIL: “Being well-off is a breast cancer risk”

Affluent women in the South are more likely to die from breast cancer than those with more disadvantaged lifestyles

Such are the facts…

Posted: 18th, June 2008 | In: Money, Tabloids | Comments (2)

Assiacated Press Takes On Blogs And The Web

IF a website quotes from an Associated Press work, it is expected to pay a fee.

AP has sued Moreover, All Headline News (via), Viacom, and filed DMCA notices against The Drudge Retort for posting short excerpts of AP stories.

In a letter to Rogers Cadenhead, the owner of The Retort, the AP believes “the Drudge Retort users’ use of AP content does not fall within the parameters of fair use.”

Best just not to use them – they’re banned.


Posted: 17th, June 2008 | In: Money | Comments (9)