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Then the cramps came,” said Currie, one of only five people so far to eat a entire Pepper X. Pepper X is greenish-yellow, doesn’t have the same shelf appeal and carries an earthy flavor once its heat is delivered. His lawyers have counted more than 10,000 products that use the Carolina Reaper name, or its other intellectual property, without permission. He calls most hot pepper challenges stupid and cautions pepper peekers against being overly ambitious and reaching too quickly for a Carolina Reaper or Pepper X. “Is this the pinnacle?” Currie said of Pepper X, a mischievous smile warming his face.

Persons: — Ed Currie, Pepper X, ” Currie, Pepper, ”, Currie, it’s Organizations: Guinness, World Records, Carolina, Reaper Locations: South Carolina, Michigan, York County, Fort Mill

[1/5] English sparkling wine, brand Coates and Seely, is pictured at the Tate Modern art gallery in London, Britain, October 6, 2023. But with vineyards now dotted across hills in southern England and sustainability concerns growing, local fizz is emerging as the drink of choice. Quality has improved, and English wine is no longer mocked by continental neighbours who once joked it tasted of rain. English sparkling and still wine feeds into that narrative," he said. In the UK market for sparkling wine, English fizz accounts for 3% of volumes compared to Champagne's 12%.

Persons: Coates, Seely, Susannah Ireland, Winston Churchill, Josh Donaghay, Henkell Freixenet, Geneva Guerin, Seely Brut, Hectarage, Ned Awty, Awty, Hamish Anderson, Anderson, Champagne Martin, Sarah Young, Catherine Evans Organizations: Tate, REUTERS, UK, Seely, Seely Brut Reserve, Tate Enterprises, Searcys, Thomson Locations: London, Britain, England, Champagne, Boxley, Kent Downs, Bolney, Hampshire

☆ The UK Labour Party has a Biden-esque economic plan — but it's very different to Bidenomics
▼ + stars: | 2023-10-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

LIVERPOOL, U.K. - Oct. 11, 2023: Britain's main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty ImagesLONDON — The U.K.'s main opposition Labour Party last week set out the economic platform it hopes will propel it to power at next year's general election, and the transatlantic parallels were clear. Reeves promised last week to "rebuild Britain" as the party seeks to de-risk business investment in emerging technologies with a new national wealth fund, maintaining an active state while harnessing private investment to drive economic growth. Labour's desired parallels to "Bidenomics" were discussed at a host of fringe events throughout the conference in Liverpool, particularly with regards to the "crowding in" of private investment — a Keynesian economic theory that suggests increased government spending can spur increased private investment. Just because the policies may be oriented towards boosting infrastructure and investment, unless they have that debt finance component, it's not Bidenomics."

Persons: Keir Starmer applauds, Paul Ellis, Keir Starmer, Starmer, they're, Rachel Reeves, Joe Biden's, Reeves, Britain —, Biden, Kallum Pickering, Liz Truss, Truss, Rishi Sunak, Pickering, it's Organizations: LIVERPOOL, Labour Party, Afp, Getty, Labour, U.S, Biden administration's, U.S . Treasury, CNBC, Bank of England, Conservative Party, U.S ., University of Pennsylvania Locations: Liverpool, England, America, Britain, Germany, France

☆ Israel's ambassador says there's no humanitarian crisis in Gaza as Israel bombs and lays siege to it, killing thousands of Palestinians
▼ + stars: | 2023-10-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Israel's ambassador to the UK told Sky News that there is no humanitarian crisis in Gaza. Israel has launched thousands of bombs on Gaza in retaliation for Hamas' attack on Israel. AdvertisementAdvertisementAn Israeli ambassador said she doesn't believe there's a humanitarian crisis in Gaza after Israel dropped thousands of bombs on the territory, killing thousands of Palestinians. Kay Burley told Hotovely that Sky News had been showing images that indicate there is a humanitarian crisis in Gaza. An acute humanitarian crisis is unfolding to which we must respond," Sunak told lawmakers.

Persons: —, Tzipi, Kay Burley, Hotovely, Benjamin Netanyahu, Rishi Sunak, Sunak Organizations: Sky News, Service, Israeli Defense Forces, Palestinian Ministry of Health, Reuters, BBC, Sky Locations: Gaza, Israel, morgues, Rafah, Egypt, Britain

The move leaves the remaining bidder for Manchester United, Ineos chairman Jim Ratcliffe, in a stronger position. The exact value that Ratcliffe's bid infers on Manchester United could not be learned, but the sources said it was higher than Jassim's offer of more than $6 billion. Manchester United is currently valued by the stock market at $3.3 billion. Representatives for Jassim declined to comment while Manchester United and Ratcliffe representatives did not immediately respond to a request for comment. Record 20-time English champions, Manchester United has over 650 million fans worldwide, according to market research firm Kantar.

Persons: Phil Noble Livepic, Sheikh Jassim bin Hamad al Thani, Glazer, Jim Ratcliffe, Jassim, Ratcliffe, Todd Boehly, Malcolm Glazer, Alex Ferguson's, Erik ten Hag, Anirban Sen, Mrinmay Dey, Chizu Organizations: Soccer, Manchester United, Europa League, Friends, Reuters, Manchester United Plc, Representatives, Sky News, Chelsea Football Club, Clearlake, Tampa Bay Buccaneers, League, Manchester City, Thomson Locations: Stockholm, Sweden, Manchester, New York, Bengaluru

By comparison, a group of people who also dieted and exercised, but then received dummy shots, lost weight initially but then regained some, researchers reported Sunday in the journal Nature Medicine. Participants in both groups lost about 7% of their body weight, or almost 17 pounds (8 kilograms), during the diet-and-exercise phase. Those who received the drug went on to lose an additional 18.4% of initial body weight, or about 44 pounds (20 kilograms) more, on average. Nearly 29% of those taking the drug lost at least a quarter of their body weight, compared with just over 1% of those taking placebo. Side effects including nausea, diarrhea and constipation were reported more frequently in people taking the drug than those taking the placebo.

Persons: Mounjaro, ”, Thomas Wadden, Eli Lilly, it's, Caroline Apovian, wasn't, tirzepatide, “, Lilly Organizations: Nature, University, Pennsylvania, Brigham, Women's, Novo Nordisk, U.S . Food, Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: U.S, ”

☆ Exclusive: Britain, South Korea agree to extend tariff-free trade for two years
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

A Union Jack flag flutters in front of the Houses of Parliament in London, Britain, November 5, 2019. REUTERS/Hannah McKay/File photo Acquire Licensing RightsLONDON, Oct 16 (Reuters) - Britain and South Korea have agreed to extend a period of low or zero tariffs on bilateral trade by two years, ahead of talks to forge a new trade deal, the British government said on Monday, in a boost for the car industry. Annual trade between Britain and South Korea is worth 18 billion pounds ($21.9 billion), and the two sides will begin talks later this year on a new trade deal. Britain's minister for international trade, Nigel Huddleston, said extending the tariff-free period would provide welcome certainty for businesses. "This is fantastic news for UK businesses who can continue selling their fantastic goods with confidence to South Korea," Huddleston said.

Persons: Hannah McKay, Nigel Huddleston, " Huddleston, Mike Hawes, Hawes, Sachin Ravikumar, William James, Louise Heavens Organizations: REUTERS, European Union, EU, Society of Motor Manufacturers, Traders, Thomson Locations: London, Britain, South Korea, British, EVs

☆ Exclusive: Ratcliffe would pay more than $1.5 bln for 25% Manchester United stake-source
▼ + stars: | 2023-10-15 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +3 min

That is slightly higher than a rival offer from Qatar's Sheikh Jassim bin Hamad al Thani for $100% of the Premier League club. Manchester United is currently valued by the stock market at $3.3 billion. Sheikh Jassim informed the Glazer family in the last few days that he would not be raising his bid further. Ratcliffe has offered to be in charge of hiring and managing talent at Manchester United should his bid prevail, the source said. Manchester United and Ratcliffe did not immediately respond to a request for comment.

Persons: Jim Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Sheikh Jassim, Ratcliffe, Malcolm Glazer, Ineos, Todd Boehly, Erik ten Hag, Anirban Sen, Greg Roumeliotis, Sandra Maler, Diane Craft Organizations: Manchester United Plc, Manchester United, Premier League, Tampa Bay Buccaneers, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, Chelsea Football Club, Clearlake, Manchester, League, Manchester City, Thomson Locations: Qatar's, Qatar's Sheikh Jassim bin Hamad al Thani, Manchester, Ineos, British, New York

☆ Here's the 'experimental' sea drone, called the 'Sea Baby,' that Ukraine claims has carried almost 1,900 pounds of explosives and has been attacking Russia's Black Sea Fleet
▼ + stars: | 2023-10-15 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Ukraine intelligence officials claim that an experimental sea drone hit two Russian military ships. The drone has been dubbed the "Sea Baby," an invention of Ukraine's security services. The drone is called the "Sea Baby," which officials in Ukraine have now claimed is behind at least three covert drone operations against Russia. AdvertisementAdvertisementAround mid-September Ukrainian sources said that the sea drone attacked a small Russian missile ship that was part of the Black Sea Fleet. The other sea drone that Ukraine developed, with a 300-kg payload, can hit targets 500 miles away, CNN reported.

Persons: —, Vasyl Maliuk, Maliuk Organizations: Service, The Washington Post, Russia, Security Service, CNN, Black, Russia's, Baby Security, Reuters, Security Service of Ukraine, New Voice, New York Times, Ammo Locations: Ukraine, Crimea, Kerch, Russian, Russia, Kyiv, Ukrainian

☆ Man arrested over damage to Tottenham Hotspur Stadium
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +1 min

Oct 14 (Reuters) - A 30-year-old man was arrested and charged with causing criminal damage at Tottenham Hotspur Stadium, London's Metropolitan Police said on Saturday, with local media reporting that the cost of the damage ran to six figures in pounds. The police said officers were called on Monday night and the man was arrested, and he then appeared at Highbury Corner Magistrates Court on Wednesday. Spurs confirmed an individual had been arrested, adding that there was "no indication" that the incident was linked to antisemitism. There has been a spike in reported incidents of antisemitism in Britain since the latest outbreak of violence in Israel. Police said there had been 105 reports of antisemitic incidents and 75 antisemitic offences between Sept. 29 and Oct. 12, compared with 14 incidents and 12 offences in the same period a year ago.

Persons: Rohith Nair, Hugh Lawson Organizations: Tottenham Hotspur, London's Metropolitan Police, Wednesday, Spurs, Police, Thomson Locations: Highbury Corner, Britain, Israel, Bengaluru

They're “the most potent greenhouse gases known to modern science,” as one research paper put it and they're growing fast. With the Environmental Protection Agency required to phase out one family of the chemicals 85% by 2036, the push is on to develop and spread cleaner alternatives. With more than 200 million gasoline cars in the U.S. alone, Groll said that amounts to approximately 100 million pounds of refrigerant leaking out into the atmosphere each year. The need to minimize refrigerant leaks has spurred a reuse and reclamation industry. ___Associated Press climate and environmental coverage receives support from several private foundations.

Persons: Jennifer Byrne, Byrne, ” Byrne, Eckhard Groll, Groll, Danielle Wright, “, let’s, ” Wright, Mike Armstrong, ”, Anthony Nash, ” Armstrong, Christopher Cappa, Davis, ” Cappa, Wright, Jarad Mason, Mason Organizations: PHILADELPHIA, Environmental Protection Agency, Purdue University, Supermarkets, Gas, University of California, Trane Technologies, Harvard University, AP Locations: West Philadelphia, U.S, Dallas , Texas, Toledo , Ohio, Punta Gorda , Florida, Americas, refrigerants

☆ Deutsche Bank completes takeover of UK broker Numis
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Deutsche Bank (DBKGn.DE) has completed its takeover of Numis (NUM.L), a London-based boutique investment bank, expanding its links with UK corporate clients, the German bank said on Friday. The combined business, Deutsche Numis, will oversee more than 170 corporate broking relationships and provide advisor, corporate broking, and equity capital markets services, the bank said. Fabrizio Campelli, who oversees Deutsche's investment bank, said the deal would expand the bank's reach into Europe's largest investment banking market. Deutsche Bank announced in April it had agreed to buy Numis for 410 million pounds ($500 million).

Persons: Ralph Orlowski, Alex Ham, Ross Mitchinson, Fabrizio Campelli, Amy, Jo Crowley, Iain Withers Organizations: Germany's Deutsche Bank, REUTERS, Deutsche Bank, Numis, Deutsche Numis, Thomson Locations: Frankfurt, Germany, London

☆ Cloudline: The blimp is back – and this time it’s tiny
▼ + stars: | 2023-10-13 | by ( Tom Page | ) edition.cnn.com time to read: +7 min

CNN —You’d be forgiven for thinking the resurgence of airships and blimps was a load of hot air. South African startup Cloudline has received millions of dollars in investment for its mini blimps. Cloudline first received venture capital backing in 2019, and after years of research and development and prototyping, the company is preparing to launch commercial operations. “The ability of companies like Cloudline to expand is highly subject to the complexity of regulations experienced across the continent,” Chokossa adds. However it looks to fill its airships, Cloudline is hoping it can break through in this revived transport sector.

Persons: CNN — You’d, Cloudline, Spencer Horne, ”, Horne, Christele Chokossa, “, Chokossa, ” Horne Organizations: CNN, Helicopters, Harvard University, Gross, Euromonitor International, Cote d’Ivoire, Democratic, UNICEF Locations: firma, South Africa, Namibia, Mozambique, Kenya, East Africa, Africa, Cameroon, Cote, Democratic Republic of Congo

Tiny but bountiful, Antarctic krill make up one of the planet’s largest biomasses, nourishing everything from fish to marine mammals and seabirds. At Steinberg’s lab, researchers are examining how warming oceans — Antarctic krill need water colder than 4 degrees Celsius (39 Fahrenheit) to survive — are altering krill’s life cycle. However, a leading marine biologist the industry once relied on to burnish its environmental credentials has since denounced krill fishing. She accepted with the hope that she could help mitigate the effects of krill fishing on the Antarctic ecosystem. Today, she believes that krill fishing should be banned.

Persons: “ What’s, ”, Alistair Allan, Bob, it’s, Santa Cruz, Deborah Steinberg’s, ” Steinberg, Emma Cavan, Steinberg, Claire Christian, “ It’s, aren’t, Dirk Welsford, Matts Johansen, ” Johansen, Kjell Inge Røkke, Brett Glencross, “, Jesse Trushenski, Trushenski, Johansen, William Harris, he’s, Javier Arata, Helena Herr, CCAMLR, Ari Friedlaender, ” Friedlaender, Peter Hammarstedt, JoNel, Helen Wieffering, Fu Ting Organizations: Bob Brown Foundation, Soviet Union, Associated Press, Shepherd, Walton Family Foundation, AP, University of California, Virginia Institute of Marine Science, World Wildlife Fund, Imperial College London, Commission, Conservation, Antarctic Marine Living Resources, Antarctic, Southern Ocean Coalition, U.S, United Nations, Antarctic Provider, Aker BioMarine, Aker, Aker ASA, National Institutes of Health, University of South, Association, Pew, University of Hamburg, Foods, Amazon, Wildlife Fund, LCA, Sea Shepherd, Washington , D.C Locations: Antarctica, Chilean, Alaska, U.S, Soviet, Russia, China, South America, Orkney, Norwegian, Santa, Cavan, Tasmania, It’s, Washington, Moscow, Beijing, Texas, Australian, Montevideo, Uruguay, dwarfing, Norway, American, Europe, Canada, Australia, Houston, Aker, Oslo, Brussels, Boise , Idaho, University of South Dakota, Salt Lake City , Utah, Santa Cruz, Virginia, Peruvian, Ski, Los Angeles, Washington ,, Investigative@ap.org

☆ Hollywood is building a $100 billion love-hate relationship with AI. Here's what's ahead, according to the top creative exec at 'Star Wars' VFX shop Industrial Light & Magic.
▼ + stars: | 2023-10-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

Harrison Ford has been donning the fedora and cracking the whip of the daring tomb-raider Indiana Jones for more than 40 years. The series' latest installment, "Indiana Jones and the Dial of Destiny," leans on myths from ancient Greece about a device that can supposedly turn back the hands of time. Indiana Jones suddenly looked generations younger — perfect for the movie's opening sequence, set during World War II. Founded in 1975 by celebrated "Star Wars" creator Geroge Lucas, ILM — a division of Lucasfilm, which also produces "Indiana Jones" — is at the forefront of this new Hollywood frontier. One of the team's biggest achievements has been speeding up the timeline by which filmmakers can implement these tools, Bredow said.

Persons: Harrison Ford, Indiana Jones, Moviemakers, Rob Bredow, Bredow, Ford, Jones, Robert de Niro, Al Pacino, Joe Pesce, lugged, Geroge Lucas, it's Organizations: Ford, Hollywood, Industrial, Lucasfilm, Netflix, ILM, Writers Guild of America, SAG, Grand View Research, Producers Locations: Greece, Hollywood

NEW YORK (AP) — Nobel laureate Louise Glück, a poet of unblinking candor and perception who wove classical allusions, philosophical reveries, bittersweet memories and humorous asides into indelible portraits of a fallen and heartrending world, has died at 80. In awarding her the literature prize in 2020, the first time an American poet had been honored since T.S. “The advantage of poetry over life is that poetry, if it is sharp enough, may last,” she once wrote. And in each of us begana deep isolation, though we never spoke of this,of the absence of regret. “You would hand in something and Louise would find the one line that worked,” the poet Claudia Rankine, who studied under Glück at Williams College, told The Associated Press in 2020.

Persons: — Nobel, Louise Glück, unblinking, Jonathan Galassi, Farrar, Straus, Giroux, Glück, Eliot, “, Shakespeare, ”, Marigold, Rose, Iris, Nova, ” Glück, Noah, John Darnow, Louise, Claudia Rankine, Leonie Adams, Stanley Kunitz, Goddard, Sam Cooke, Iris ”, “ I’ve, ’ Organizations: ”, Meadowlands, Giants, “, Stanford University, Yale University, Williams College, Associated Press, New York, Guggenheim Museum, Sarah Lawrence College, Columbia University, New Yorker, The Atlantic, Goddard College, “ Ararat, Washington Locations: American, U.S, New, New York City, , New York, Eastern, “, “ Ararat ”

Refrigerants used in fridges, freezers and cars change from a fluid to a gas to transport heat away from the place you want cooled. In refrigerators, the refrigerant starts as a liquid and expands into a gas, which forces it to cool down. The refrigerant then flows through condenser coils where it releases its heat out and cools back into a liquid. The cycle starts over when the refrigerant enters the expansion device, where the fluid spreads out, cools, and once again turns into a gas. Methane, the second most important greenhouse gas after carbon dioxide is 28, or 28 times worse.

Persons: hasn’t Organizations: Environmental Protection Agency, EPA, AP Locations: fridges, Phoenix , Arizona, Dubai, Montreal, Kigali, United States

☆ UK watchdog fines Equifax $13.4 mln for role in cyber breach
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. The FCA said the hackers could also access the personal data of 13.8 million UK consumers because the data was stored on company servers in the United States. Equifax Ltd had outsourced data such as names, dates of birth, Equifax membership login details, partially exposed credit card details and addresses. "Few companies have invested more time and resources than Equifax to ensure that consumers’ information is protected," Remon said. "There were known weaknesses in Equifax Inc’s data security systems and Equifax failed to take appropriate action in response to protect UK customer data," it said.

Persons: Tami Chappell, rater Equifax, Equifax, Patricio Remon, Remon, Huw Jones, David Evans, Mark Potter Organizations: Equifax Inc, REUTERS, Financial Conduct Authority, FCA, Equifax, Europe, Commissioner's, Thomson Locations: Atlanta , Georgia, U.S, United States, Equifax

☆ Cricket-mad India is hosting the World Cup – and tickets are reselling at astronomical prices
▼ + stars: | 2023-10-13 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

India is hosting the Cricket World Cup over the next two months. Secondhand ticket prices have soared – although some fans say the process to buy them has been poorly-managed. AdvertisementAdvertisementCricket-mad India is currently hosting the sport's flagship event, the ODI World Cup – but fans who want to see the national team play live might have to pay thousands of dollars for the privilege. Tickets are reselling on secondhand marketplaces for sky-high prices, while supporters are complaining that the process to buy seats for marquee games has been poorly managed. AdvertisementAdvertisementThe official website for the World Cup says tickets for future India matches are "coming soon" – even though the Rohit Sharma-led side are slated to take on New Zealand in Dharamsala in just 10 days' time.

Persons: Bloomberg he’d, —, Nikhil Wadhwani, he'd, –, Wadhwani, Rohit Sharma, Taylor Swift, Olivia Rodrigo Organizations: Cricket, Bloomberg, Service, Pakistan's, scalpers, New Zealand, NBA, England Locations: India, Pakistan, Ahmedabad, Mumbai, New, Dharamsala, Australia

☆ UK's easyJet agrees deal with Airbus to expand fleet beyond 2028
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

An easyJet Airbus A320neo aircraft is parked on the tarmac of Adolfo Suarez Madrid-Barajas Airport, in Madrid, Spain, June 22 2022. REUTERS/Isabel Infantes/File photo Acquire Licensing RightsLONDON, Oct 12 (Reuters) - British airline easyJet (EZJ.L) said on Thursday it had reached a proposed deal with Airbus to expand its fleet by up to 257 additional aircraft, plotting its growth beyond 2028, with bigger and more fuel efficient planes. EasyJet announced the order after forecasting annual profit of 440 million to 460 million pounds ($542-$567 million), and said it would restart its dividend, signalling that its recovery from the pandemic was now in full flow. The airline said the terms of the deal with Airbus were attractive and it gave the airline certainty of aircraft supply. EasyJet, which only flies Airbus planes, said it considered Boeing as part of a competitive process.

Persons: Adolfo Suarez, Isabel Infantes, EasyJet, Johan Lundgren, Bernstein, Alex Irving, Irving, Stelios Haji, Ioannou, Sarah Young, Paul Sandle Organizations: Airbus, Adolfo Suarez Madrid, Barajas Airport, REUTERS, Europe's, Ryanair, British Airways, Boeing, Thomson Locations: Madrid, Spain

☆ UN says 12 of its staff have been killed in Gaza, including 5 teachers and a doctor
▼ + stars: | 2023-10-12 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Israeli airstrikes on Gaza have killed a dozen UN aid workers, a spokesperson told Insider. The dead, who were all Palestinians, included five teachers, a gynecologist, a psychologist, and support staff, she said. "I want people to know that there are civilians — really civilians — who are being killed in Gaza," Touma said. It runs a network of medical facilities in Gaza, as well as schools that are now serving as shelters for nearly 220,000 Palestinian civilians. Local authorities say 1,417 people have been killed in the Israeli response, with another 6,200 wounded.

Persons: —, Juliette Touma, Touma, UNWRA Organizations: Service, UN Relief and Works Agency for Palestine Refugees, Israel Defense Forces Locations: Gaza, Palestinian, East, Israel, Egypt

☆ Bernie Ecclestone: Ex-F1 boss spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —Ex-Formula One boss Bernie Ecclestone was spared an immediate prison sentence on Thursday after he pleaded guilty to misleading Britain’s tax authority about overseas assets worth more than 400 million pounds ($492 million). Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London’s Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Belinda Jiao/ReutersJudge Simon Bryan gave Ecclestone a 17-month prison sentence suspended for two years, meaning he will only go to jail if he commits another criminal offense during that time. His lawyer Montgomery had noted at a previous hearing in January that Ecclestone was charged shortly after he made “unpopular” comments about Russian President Vladimir Putin.

Persons: Reuters —, Bernie Ecclestone, Ecclestone, Richard Wright, Belinda Jiao, Simon Bryan, Clare Montgomery, Ecclestone “, ” Ecclestone, Andrew Penhale, ” Richard Las, “, Elizabeth Cook, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin Organizations: Reuters, HM Revenue, Customs, Southwark Crown, HMRC, Brabham, Crown Prosecution Service Locations: Southwark, Singapore

☆ Ex-F1 boss Bernie Ecclestone spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London's Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Ecclestone gave an unintelligible response to reporters as he left the court and got into a waiting Range Rover. Richard Las, chief investigation officer and director of the Fraud Investigation Service at HMRC, said Ecclestone had "lied to HMRC". The decision also states that Ecclestone paid around 250 million pounds in income and capital gains tax to HMRC between 1999 and 2017.

Persons: Bernie Ecclestone, Belinda Jiao, Ecclestone, Richard Wright, Simon Bryan, Clare Montgomery, Andrew Penhale, Richard Las, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin, Sam Tobin, William James, Alex Richardson, Susan Fenton Organizations: Formula, Southwark Crown, HM Revenue, Customs, HMRC, Crown Prosecution Service, Thomson Locations: Southwark, London, Britain, Singapore

☆ UK transport group Mobico's shares hit record low on profit warning
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Cuts annual profit forecastSuspends dividendsShares fall to record lowOct 12 (Reuters) - Mobico's (MCG.L) shares fell by a third to a record low on Thursday after the British transport company cut its annual profit forecast and suspended dividends, as high costs hit the group's efforts to improve profitability. The company, which changed its name from National Express to Mobico earlier this year, said it was planning to sell its North America school bus business in early 2024 to cut debt. The company was hit hard during the pandemic as lockdowns restricted travel and governments had to support transport operators. Mobico's school bus business in North America has faced high costs and labour shortages. "The profit warning just goes to show it takes more than a name change to prompt a recovery in a company's fortunes," Mould added.

Persons: Russ Mould, AJ Bell, Mobico, Mould, Radhika Anilkumar, Nivedita Bhattacharjee, Miral Fahmy, Sharon Singleton, Jane Merriman Organizations: National Express, North America, U.S, Stagecoach, Thomson Locations: British, North America, Britain, Europe, North Africa, Bengaluru

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