Banks Back in the Firing Line- 28th June 2012

Barclays has just been fined £290 million for trying to change interest rates at which banks lend to each other.

It seems that other banks are also under investigation, and the FSA Financial Services Authority stated that it doesn't see Barclays as a lone bank manipulating interest rates.

Barclays at its own admission said their actions fell well below expected standards, other banks that maybe under investigation are citigroup, JP Morgan, Deutsche Bank, HSBC and RBS.

A leading business man when asked what they thought about the latest bank scandal Graham Hearsey CEO of Business Insurance 24 7 said "it seems to me that banks and politicians are corrupt everywhere. They end up causing the ordinary man and women in the street, the pain of clearing up their mess and the regulator then impose high fees against business and people who have nothing to do with these idiots and greedy individuals."

Euro Summit Once Again Leaders Trying to Resolve the Crisis - 28th June 2012

Angela Merkel and Francois Hollande held talks in Paris prior to the Euro Summit.

The two leaders disagree about the way the Eurozone crisis should be handled, with the German Chancellor very opposed to pooling debt while the French President Francois Hollande would like to see much further interrogation.

Merkel is adamant that Germany will not get involved with the idea of sharing debt and stated "there is no quick solution and no simple solution" to the Eurozone crisis.

A leading broker in the UK who trade in the Eurozone with Business Insurance 24 7, CEO Graham Hearsey said "the leaders in the Eurozone are running around like chickens with no heads they need to get their act together."

They are taking far too long to resolve the problem, if they don't sort it out soon capitalization as we know it will disappear and the world will be in crisis, the USA has a part to play in this and they should also be helping.

England Out Again - 25th June

Once again England go out loosing to Italy in a penalty shoot out after a very frustrating  game that ran for 120 minutes, with a few bright sparks, from both Italy and England.

Ashley Young hit the bar after he took his turn at the penalty spot and missed. The player of the game must have been England goal keeper Joe Hart who was outstanding. In the end the better team won. Italy played well and kept possession, leading England to chase rainbows, with no gold pot at the end.

Taliban Attacked a Hotel Just Outside Kabul 22nd June 2012

A battle between the Taliban Afghan security took place yesterday with reported hostages taken and at least two people were killed.

Officials said that heavy machine gun fire, rockets and grenades were used. NATO helicopters were also used in the area the attacked happened at the Mai hotel in the Lake Qargha area.

Fernandez and Cameron Discuss Falkland Islands at G20 - 20th June 2012

The president of Argentine Cristina Fernandez and David Cameron confronted each other over the claims on the Falkland Islands.

Cameron suggested that Argentina should respect the referendum that he has arranged which would let the people of the falkland island decide.

Greece Goes to Poll and Pro- Bailout Party Wins By a Narrow Margin - 18th June 2012

The news has been received by world leaders very well the party 'new democracy' and its leader Antonis Samaras will probably be asked to try and form a government by the President Carlos Papoulias, the new party got 29.7% at the vote where as the Syriza party got 26.9% of the vote and said via its leader Alexis Tsipras that they would still be Anti- Austerity.

Argentina Wants Talk Over Falklands - 15th June 2012

Argentina demands talks on the sovereignty of the Falkland Islands. At a UN committee the argentine President Cristina Fernadez de Kirchner said that Britain needed to enter into negotiations with them over the 'Falkland'. She stated that history and geographical information backed her claim.

The claim came at the 30th anniversary of the UK territories liberation from Argentines occupation of the Islands where 255 UK servicemen where killed and 650 Argentines.

David Cameron said there will be no negotiation.

David Cameron at Leveson Inquiry - 15th June 2012

Rebekah Brooks and David Cameron's relationship was brought up at the Leveson inquiry and the fact that she texted him to say she was rooting for him as a personal friend and because professionally "we are definitely in this together" the text said to have been sent on the eve of Cameron's conference speech 2009.

After 5 hours of questioning although Cameron did at time get uncomfortable about this frequent meetings with News International executives he did emerge from the Leveson inquiry with his political minister did admit he was haunted by his appointment of Andy Coulson.

Cameron to Face Leveson to Give Evidence - 14th June 2012

David Cameron the prime minister will be facing questions today at the Leveson enquiry. Cameron was friends with Ex news international CEO Rebekah Brooks and also with Andy Coulson who was the prime ministers communications chief. Questions regarding the hacking scandal and his relationships with his friends particularly when the phone-hacking scandal and the handling of News Corp's BskyB bid will be among the questions he will be facing. From an insurance point of view this may reveal more areas that could lead to claims on Directors & Officers Insurance Policies or Professional Indemnity Insurance if they were in force at the time.

Tagged Offenders Break Curfew - 14th June 2012

The system to monitor offenders movement by placing a tag on them has broken down with reports that over half of tagged offenders are breaking the set curfews. A review conducted by her Majesty's inspector of probation has been critical of the way electronic monitoring is being used.

Todays Insurance News in Brief - 13th June 2012

- European bail out in Spain not such a good thing for insurance companies over fears that Spain's bail out will lead to be paid for via its sovereign finances which could lead to insolvency requiring a much higher bail out and drag other countries like Italy and France into the same problem.

Share prices dropped sharply on major insurance companies such as Aviva and AXA and Allianz.

- Any breaking up of the Eurozone could highly effect major insurance companies where investors have traditionally been happy and put their money but with the sharp drop in share prices on major insurance companies such as AXA, Aviva and Allianz investor may start to look else where.

- Professional Insurance Agents Ltd search for new sales team in Europe and UK. Kelly Fyfe business development director said we need to offer brokers and insurance companies a quick online solution for trading commercial insurances such as Professional Indemnity Insurance and Public Liability Insurance and Office Insurance across a standard platform across the UK and Europe.

Children Used to Protect Syria Troops From Attack - 12th June 2012

 
It has been reported by the UN that Syria troops have been using children as human shields to prevent attacks on their tanks and other equipment children were also being tortured and killed in detection areas. The report also said that rebel forces were using children on the front line. While the UN chief in the Syria conflict condemned the increasing violence. Radhika Coomaraswamy a UN special team representive told the BBC that on return from Syria with reports that were horrific.

Spain gets £100bn Euros - 11th June 2012

The Spanish government obtained £100bn Euros from an agreement made on Saturday by Eurozone ministers. Spains Prime Minister Mariano Rajoy called it "a victory for euro".

The move was to help Spain's struggling banks.

Both the (IMF) International Monetary Fund and the USA welcomed the outcome. The money will come from the European Financial Stability Facility and the European Stability Mechanism. Business leaders also welcomed the rescue.

CEO Graham Hearsey of Professional Insurance Agents Ltd who want to expand their Multiquote and Buy Insurance platform in Spain and have had recent talks in Madrid said that this is great news.

Cameron Speaks Out for Germany

David Cameron has stated that Germany cannot stand alone in resolving the Eurozone crisis and that Angela Merkel cannot be "singled out" for the responsibility.

He is due to meet the German Chancellor today having already spoken to the USA president Barach Obama on Tuesday were it was agreed that the Eurozone need to act straight away to stabilise the single currency.

Spain of course rejected this week that it banks needed foreign assistance. Business leaders and markets need to have their confidence restored. CEO of Professional Insurance Agents Ltds a leading broker in the UK and trading in Europe Graham Hearsey said "that European leaders really need to get their act together and to stop pussy footing around, as indecisiveness shows lack of leadership and is destroying growth for business".

Yet Another Reported Massacre in Syria

Reports are coming in that nearly 100 people were killed in Hama Province, many of them women and children.

Victims were said to have been shot and stabbed by government backed militia.

The latest mass killing comes only two weeks weeks since 108 people were killed in Houla, activist have called on UN monitors to investigate the killings.

surely now all future killings in this nature should be treated as war crimes and leaders and heads of states in Syria should know from the international world that they will face trials to explain themselves.

Todays Insurance News

- Brit have a all change as QBE takes over Brit. QBE is to spilt the operation into UK and Ireland into five regions, Ray Cox has been appointed chairman and Elliot Miller general manager.

- A new financial institution product is being launched by XL offering cover on crime, Directors and Officers and Private Equity.

- Open GI launch a new home product with LV and insurecom.

- Professional Insurance Agents Ltd specialising in commercial Insurance Product online such as Professional Indemnity Insurance and Public Liability Insurance are in talks with several private equity companies as well as insurers about the possible partnership in their new 'five ring' strategy for trading online across Europe and internationally.

Space X Dragon Dives into the Ocean of California

Returning to earth space x dragon completed its first mission splashing down and recovering of the unmanned capsale by fast boats.

The craft will be taken and returned to port and inspected in Texas and for its cargo to be unloaded.

Charities Protest to George Osbourne

After strong protests from charities George Osborne has dropped his plans to limit tax relief on charitable giving.

In the budget he set a limit of £50,000 or 25% income charities all welcomed the climb down but labour said another u-turn was "shambolic".