Church of England is shorting

The Church of England has been accused by a think-tank of using short-selling tactics to maximise profit on its 5 billion investments.
Ekklesia weighed into the debate on the ethics of financial investments and stock market speculation in response to comments made by senior clerics in the wake of the recent banking crisis.
Archbishop of York Dr John Sentamu branded the traders who cashed in on falling share prices in troubled bank HBOS as "bank robbers" and "asset strippers", while Archbishop of Canterbury Dr Rowan Williams called for fresh scrutiny and regulation of the financial world.
Jonathan Bartley, co-director of Ekklesia, said: "The archbishops should be extremely careful when attacking city 'bank robbers' for short-selling and speculation. The Church has benefited significantly from the speculation that has underpinned rising oil and commodity prices such as gold and copper.
"By its own admission it has also hedged against a fall in the value of sterling, and set up a currency hedging programme in 2006, effectively short-selling sterling in the currency markets."

But the religion and society think-tank Ekklesia claimed that in 2006, the Church Commissioners, which manages the Church of England's investments, set up a currency hedging programme that hedged against a fall in the value of sterling, effectively short-selling the British pound to guard against rises in other currencies. The think-tank also criticised the Church for its shareholdings in oil and mining companies.

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Why does nobody clear the paths outside their homes? Yup, it's all down to health and safety


Householders and businesses have been warned not to clear snowy pavements - as they could be sued if someone slips.

In its guidance to members, the Institution of Occupational Safety and Health warns that if people assume an area is clear and then slip and injure themselves, they could take legal action claiming damages.

And members of the public say they have been warned by councils about the legal risks. Michael Pepper, 68, asked Cambridgeshire county council to deliver grit which he offered to spread, but was warned he could be sued if he did so.

Government whip Lord Davies of Oldham explained to fellow peers in a House of Lords debate: 'If people totally clear away all snow and return the pavement to the situation it was in before the snow landed, they have done an excellent job.
If it is done in a less than complete manner and leaves ice, which is more dangerous than the original covering of snow, it may not be the local authority responsible but the householder for having dealt with the pavement.'

John McQuater, president of the National Association of Personal Injury Lawyers, admitted: 'If you do nothing you cannot be liable. If You do something, you could be liable to legal action.'

But to add to the confusion, home owners are responsible for clearing their own private paths and ensuring visiting postmen, milkmen and others are safe, warned Paul Kitson, of solicitors Russell, Jones and Walker.

The situation here contrasts with many parts of North America where householders face local authority fines if they dont shovel snow off pavements facing their homes.

Ann Widdecombe, the former Tory minister and critic of Britains burgeoning compensation culture told the Sunday Telegraph: The idea you can be sued for being helpful is absolutely ludicrous.

The Royal Society for the Prevention of Accidents also expressed its disappointment that public safety was being neglected because of fears of possible litigation.

A spokesman said: This is not showing a particularly good attitude. It would be much safer for the public to clear paths, even if its not on their property.
And Clare Marx, past president of the British Orthopaedic Association and orthopaedic consultant at Ipswich Hospital, said: If people want to clear pavements, they should just do it.

I would have thought its a public service and it is a shame we have ended up with a culture where if someone slips, they want to sue someone.

The organisation said its members expected to treat tens of thousands of fractures by the time the weather eventually improves.

Forecasters are predicting that freezing conditions continue until at least Wednesday, while local authorities edge closer to running out of grit.
The lack of salt means even few pavements will be cleared of ice and snow.
The Government has ordered extra supplies from the U.S. and Europe, but they are not expected to arrive for another fortnight.