Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

IMF attacks rating agencies over Irish downgrade



Philip Aldrick, 21:45, Thursday 14 July 2011

The International Monetary Fund (IMF (Berlin: MXG1.BE - news) ) has joined the attack on credit-rating agencies for cutting Ireland (Berlin: IIK.BE - news) to "junk" status this week.

Ajai Chopra, an IMF deputy director, said Ireland has every chance of a full recovery if Europe (Chicago Options: ^REURTRUSD - news) 's leaders can calm markets and that the country should be "judged own its own merits".

Moody's slashed Ireland's rating this week on a read-across from Greece, where private creditors may be forced to default as part of a second bail-out.

"Rating agencies have got it wrong on the upside," he said. "It's naturally possible they are getting it wrong on the downside by overestimating risks."

In its review of Ireland's progress under its 67.5bn rescue, the IMF said Dublin was "on track" and had "good prospects of getting back to market access".

Mr Chopra added the onus was on Europe's leaders "to address the broader issues".

His comments came as Italy's Senate approved a crucial austerity package but paid a high price to get a bond auction away as it moved to distance itself from the debt crisis.

The measures were passed 161 votes to 135 as it increased the package to 48bn to calm investors.Interest rates on the 5bn bond were the highest in three years, causing 10-year bond yields to rise again to 5.6pc

FBI Launches Inquiry Into Phone Hacking



22:40, Thursday 14 July 2011

The FBI has launched an investigation into allegations that Rupert Murdoch's News Corporation (NasdaqGS: NWS - news) tried to hack the phones of 9/11 victims, an official has confirmed.

The announcement follows calls from senior politicians in the US for an inquiry as shockwaves from the News Of The World (NOTW) phone-hacking scandal continue to reverberate.

The FBI field office in Manhattan (Xetra: A0X9G1 - news) has confirmed it is looking into the allegations against the company, said Sky's US correspondent Greg Milam.

The move comes as Rupert Murdoch and his son James have said they will give evidence to a Commons select committee next week.

They will appear alongside News International chief executive and former NOTW editor Rebekah Brooks.

In a new interview with the Wall Street Journal, which is owned by News Corp, Rupert Murdoch has defended the company's handling of the crisis.

He also said it would establish an independent committee to "investigate every charge of improper conduct".

The 80-year-old dismissed reports he would sell his UK newspapers to bring the scandal to and end, calling the suggestion "total rubbish".

In Washington, Democrat senator Jay Rockefeller has been calling for an investigation into whether parent company News Corporation had violated US law because of the British paper's activities.

The allegation of hacking 9/11 victims comes from the Daily Mirror, which said an American investigator had rejected approaches from journalists who showed a particular interest in British victims of the terror attacks.

It cited no evidence that any phone had actually been hacked by the NOTW or any other paper.

If there was any phone hacking of Americans "the consequences will be severe", Mr Rockefeller, chairman of the Senate Committee on Commerce, Science and Transportation, said.

A report in The Wall Street Journal (WSJ), which is part of News Corp, said Mr Murdoch met with advisers in recent weeks to discuss possible options, including the sale of his remaining British newspapers.

The WSJ reported that there did not appear to be any buyers, given the poor economics of the newspaper group.

Meanwhile, some members of the Bancroft family that once controlled the WSJ said they would have opposed selling the paper to Mr Murdoch in 2007 had they known about the hacking allegations then.

"I probably would have held out," Christopher Bancroft said in a story published by the non-profit group ProPublica and The Guardian.

The story was written by a former executive of WSJ publisher Dow Jones (DJI: ^DJI - news) & Co.

Meanwhile, politicians in Mr Murdoch's country of origin are also urging action following the phone-hacking scandal.

Australia's government will consider a review of national media regulation and laws, Prime Minister Julia Gillard has announced.

"I've truly been disgusted to see it. I anticipate that we will have a discussion amongst parliamentarians about this, about the best review and way of dealing with all of this," Ms Gillard told Australia's National Press Club.

The influential Greens Party, which controls the balance of power, has called for Ms Gillard's government to hold an inquiry into whether a new statutory media watchdog is required, with parliament to consider the issue in August.

Interesting to see what the proposed investigations shows of the deals done between the tory party and the Muddydock press.

Seems as if the the Party may have lost its main propaganda machine.

With a government sailing in increasingly choppy water and many bailing out, it must be a relief to see Muddydock attending the HP. (Possibly another takeover bid on the cards.)

Just heard Brookes has just sank herself.

I think there would have been more deals done with the Labour Party. They were cosy with Murdoch for much longer. Don't forget the tobacco advertising payments scandal with payments from F1 racing to Labour under Blair.

Haystack - I take it you mean cosy ! :-)

Blair was a Scandal.

Always thought of him as a tory mole.

Blues under the bed syndrome!

Australian gangsters, and the blue rinses all on the same square.

About time - Phone hacking: News International chief Brooks quits

We Tory scum must stick together. At least we always float to the top.

Suppose her nickname from now on maybe "Crooks".

======

Hays,

I think any corrupt dealings with any of the parties, whatever the shade of confused ideology they are of, should be exposed.

The problem is that the present "leaders" (Cameron and "henchmen"), although admitting complicity, are claiming, as excuses, others did the same.
,
To me that is a form of corruption. I don't want corrupt leaders, as the same "traits" will show up in their other dealings.

Also, trying to excuse the past actions with the argument "they were all doing, I was following orders. I was ordered to, is showing "moral" weakness.

I was taught at a very early age to admit and take the responsibility for my actions, right or wrong. To apologise and attempt to correct any "mistakes" made. (Not always easy to do, or done.)

Labour, if they were perverted by the "press", were wrong and need to have their actions fully exposed. To my mind, the tories have been in bed with "tory" press since before Max Aitken's time.

That is why much of the "present" press is called, "The Tory Press".

But, I have a feeling, for short time at least, the "party" is over for the "cons.".



But, I think a more important change would be that addressing the funding of all parties "sensibly".

A difficult problem which I think reasonable to approach on all party basis.

The thought of going further down USA pathway and size of funding is horrendous to me.

The biggest corruption and scandal in politics is the relationship between the Labour Party and the unions.

Hmmm?

If Rebekah Brooks had resigned a bit earlier, would we still have News of The World?

I think Murdoch took advantage if the situation to dump the NOW. He can bring out The Sun on Sunday or whatever with existing journos. He has cut his costs and may make more out of it. Good business. The NOW was a an old fashioned newspaper and probably needed to go. I would expect Murdoch to ed up with BSkyB at a later date. He is a clever businessman.

For an old git!

My wife used to work for his lawyers in the City in the 80s and go into meetings with him. He was a very sharp operator and I suspect he still is.

The NoTW was very profitable. Huge circulation and advertising revenues to match. But I'me sure he feels he can switch the readership to sunonsunday.com (registered 5 July) and make more money with less people.

He is as they say a hard nut, the same as Robert Maxwell. He will probably snuff it before he gets his sentence. lol

She used to take documents to Wapping and had to cross their picket lines. She never had any trouble. If any of male staff went to Wapping they had spare shirts at the office due to rotten tomatoes etc being thrown at them by the print workers.

This must take its toll on a man of his years, I don't care how "sharp" he was.

Hays,

Nowadays, at least the relationship with the unions is relatively open, where as the tory party has become more tribal, elitist and takes place on a square in a dark room.(with or without their trousers on.)

Post 11584,

I think it is a possibly cynical attempt to do that.

But, I think Murdock's press revenues will be down, as associations with him, or his entourage will stink to many.

Mind the tories always had pegs on their noses.

(Otherwise, I was told, "it would be difficult for them to bear their own company".)

I don't think he has a hope in hell of getting control of SKYB in the next 5years, if at all.

Just wondering whether his American Empire will be pruned.