Billions lost in a day because of Euro crisis. Face Off with Facebook. Walmart in Bribery Scandal. Crime one of the biggest economies in the World and the Great Penguin Theft of Australia
…… BILLIONS LOTS IN A DAY ….
DAILY TELEGRAPH
BILLIONS WIPED OFF EUROPE'S BIGGEST COMPANIES AS POLITICAL REBELLION ROCKS EUROZONE
By Louise Armitstead
Traders panicked as more than £122 billion was wiped off the value of Europe's biggest companies on Monday amid fears that the eurozone's commitment to austerity was being swept away by political rebellion. The Dutch prime minister Mark Rutte, who is one of the eurozone's "hardliners" on budget cuts fiscal, dramatically quit in the wake of his coalition's refusal to accept Europe's debt pact.
FINANCIAL TIMES
BACKLASH AGAINST EUROZONE AUSTERITY
By Ralph Atkins in Frankfurt and Robin Wigglesworth in London
A political backlash against fiscal austerity left mainstream French and Dutch politicians struggling to shore up support as a key economic data highlighted the eurozone’s slide into deeper recession.
FINANCIAL TIMES
FACEBOOK PROFITS DIP BEFORE IPO
By April Dembosky in San Francisco
Facebook’s profits and revenues fell in the first three months of the year 2012, compared with the final quarter of last year, marking a setback for the social networking company just weeks before its widely anticipated initial public offering.
GUARDIAN
WALMART SHARES TUMBLE AMID ALLEGATIONS OF MEXICAN BRIBERY COVER-UP
Dominic Rushe in New York
The largest retailer in the world, Walmart, faces could be taken to court after revelations that the firm may have covered up a bribery scandal at its Mexican subsidiary. Shares in the company tumbled on Monday after the company confirmed it was investigating possible violations of the law which prohibits acts of bribery in foreign countries.
…… THE OTHER NEWS …..
DAILY TELEGRAPH
CRIME 'ONE OF THE WORLD'S TOP 20 ECONOMIES', SAYS UN OFFICIAL
Reuters
Crime generates an estimated $2.1 trillion around the world, that’s equivalent to 3.6% of the world's gross domestic product according to new data from the United Nations. "It makes the criminal business one of the largest economies in the world, one of the top 20 economies," said Yury Fedotov, head of the UN Office on Drugs and Crime. The figure was calculated recently for the first time by the UNODC and World Bank.
THE SUN
BRICK BOSS: GOVERNMENT MUST STOP DITHERING ON ENERGY
Britain’s biggest brick maker claims the Government’s energy policy is in “disarray” — and is causing firms to shelve investment. Michelmersh Brick said the industry was being allowed to “wither on the vine” by hapless ministers. It’s chief executive said energy policy should be run separately to Government — just as the Bank of England runs interest ratepolicy independently of government.
DAILY MAIL
PPI VICTIMS SWINDLED
By Katherine Faulkner
The scandal of mis-sold payment protection insurance is being compounded by claims firms ripping off consumers seeking compensation, according to watchdogs. Households are being swindled twice – first by the banks which mis-sold them the unnecessary product, and then by companies customers’ payout in fees.
DAILY EXPRESS
EUROPE TO RUIN BRITISH PENSIONS
By Sarah O’Grady, Social Affairs Correspondent
Meddling European bureaucrats are threatening to kill off Britain’s final salary pension schemes. They want to impose tough financial rules on them that would cost up to £600billion. But few employers would be able to afford the terms and most would be forced to close the schemes, according to experts.
….. AND FINALLY …….
DAILY TELEGRAPH
TWO WELSH MEN CHARGED OVER PENGUIN THEFT
Two Welsh men have been charged in Australia with stealing a fairy penguin called Dirk. The two British men, along with a teenager, were charged with trespass, stealing and keeping a protected animal. The BBC quoted one of the Welsh men, Rhys Jones, as saying: "Still a bit fuzzy about the whole thing but on behalf of the three of us we are very sorry and it was just a prank which went way too far."
