Salvage crews are trying to secure the Costa Concordia to rocks with heavy cables as the cruise ship slips at a rate of 1.5cm per hour.

Coastguards fear big waves forecast for the next 36 hours could push the ship off its perch, sending it to the bottom of the sea.

The ship's movements are being carefully monitored - and had halted divers' attempts to find the 21 passengers still unaccounted for.

The search has now resumed after being suspended at midnight when laser technology detected the ship was moving, putting search teams at risk.

 

Firefighters have been working around the clock to find the missing

Authorities said earlier it was too dangerous for divers to enter the vessel and that the search would only resume when it was deemed safe.

The threat of the ship sinking has also raised further concerns of an environmental disaster with the 2,400 tonnes of fuel in the ship expected to pollute the Mediterranean maritime reserve.

As teams try and use heavy-duty cables to secure the Concordia to rocks on Giglio island, a remote-controlled surveillance camera robot has been sent into the ship to continue efforts to find any trace of life.

The movement comes after the stricken ship initially slid by around 5ft (1.5m) deeper into the sea on Wednesday.

Judge orders search of News of the World executives' computers in bid to find out if key hacking evidence was destroyed

 

A judge overseeing the settling of hacking claims by victims of News of the World has ordered executives' computers be searched. Senior managers at News Group Newspapers – the parent company of the News of the World – were criticised by Mr Justice Vos, the judge supervising the settlements. Jeremy Reed, who is acting on behalf of several victims of phone hacking, said that when the News of The World moved offices in 2010, computers used by journalists accused of hacking were destroyed. He disparaged their reaction to a request in 2010 from lawyers for the actress Sienna Miller to retain emails that might be relevant to a phone hacking claim. Within three days, the judge said, ‘a carefully conceived plan to delete emails was put into effect at the behest of senior management’. He said the evidence raised ‘compelling questions about whether you concealed, told lies, actively tried to get off scot free’. He ordered the company to search a number of computers, adding that there was evidence that management had a ‘startling approach to the email record’.

Spain is happiest expat destination

 

The research, from Lloyds TSB International, asked over 1,000 British citizens in the 10 most popular expat destinations to rate their new homes on factors ranging from quality of life to cost of living. Overall, 68 per cent of those interviewed said they were happier in their adopted country than in Britain, rising to 75.9 per cent in Spain. Other countries which fared well on the happiness index were Canada and Germany, where 72.2 per cent and 71.4 per said they were happier respectively. Interestingly, those countries where expats said they had the highest quality of life or best financial prospects were not necessarily where expats were most happy. New Zealand, for example, offered the highest quality of life according to the survey, but was ranked bottom for contentment, while the country where most expats said they were better off – the UAE – was only the fourth happiest place. John Kramer, a British expat who lives in Andalucia, said that he was unsurprised by the fact most expats were happier in Spain, because its "outdoor lifestyle, traditional family values, and positive outlook on life” made it a very easy place to enjoy.

northern Spain is the place to go

Spain ranks as one of the most mountainous countries in Europe because – and this isn't obvious – the heart of the country sits on a huge plateau. Madrid is 2,100ft above sea level (which explains why the Spanish capital is so cold in the winter and roasting-hot in the summer).

 

But for impressive mountains, northern Spain is the place to go. If you're arriving here direct from the UK with Brittany Ferries – when you can bring your car to explore the region far and wide – the first thing to strike you as you approach the coast is the range of huge mountains that rears up behind the port of Santander.

The snow-capped peaks you're looking at are the Picos de Europa, one of the wildest and most unspoilt regions of Europe – superb walking country and a wonderful place for spotting wildlife.

Bears and wolves are said to roam here still, and you will almost certainly spot eagles soaring high in the sky. It's 'secret Spain', a holiday place far from the madding crowds of Benidorm or Torremolinos.

Here the accent is on a gentler-paced rural way of life. This is a Big Country in lots of ways – the coast, which runs from the French border in the east to the frontier with northern Portugal in the west – covers a distance of some 500 miles.

The northern provinces include some of the country's most historic places: Galicia, Asturias, Cantabria and the Pais Vasco (Basque Country).

Saints alive: San Sebastian can boast beaches - such as Concha Beach - every bit as inviting as the southern Costas

Together they make up what is known as Green Spain – green thanks to the large amounts of year-round rain. Unlike southern Spain, where good, unspoilt beaches are at a premium, along the northern coast you'll find endless stretches of long sandy ones, many of them hidden down coastal valleys of the sort familiar to anyone who has holidayed in Cornwall.

And inland, you'll be seduced by sweet countryside – small villages with traditional farms on green rolling hills flanked by mist-covered mountains. These are places steeped in Celtic tradition where the local version of the bagpipes provides a soundtrack to festivities, which are further enlivened by the region's potent cider and strong-smelling cheeses.

Northern Spain is also great wine country. This part of the country is, after all, home to the famous rioja grape variety. Rain in Spain actually falls mainly in the north and this helps produce some of the world's finest grapes – Professor Higgins would no doubt have been delighted.

Here are my five tips for a great holiday in northern Spain...

1. Paradors

The Spanish paradors are hotels offering good accommodation, most in buildings of historic or architectural interest, including former castles, palaces, fortresses, convents and monasteries.

Ones particularly worth seeking out in northern Spain include the Hostal dos Reis Catolicos in Santiago de Compostela – the finishing point for those who walk the Pilgrim's Way across northern Spain – and the popular Hostal San Marcos in Leon.

2. Seaside delights

In Santander, the seaside has a delightful Edwardian feel. Further along the coast to the east is San Sebastian, which has a Victorian elegance (it has been a favourite summer-escape destination for the Spanish royal family). All along the coast are a huge variety of small towns and fishing villages with great beaches (many with excellent surfing), lovely restaurants and good-value accommodation.

3. Great attractions

Bilbao has its own extraordinary outpost of the Guggenheim Museum; Santiago de Compostela boasts a cathedral with relics of St James; in the province of Cantabria you'll find arguably the best collection of cave paintings in the whole of Europe, with more than 50 sites, including some of enormous artistic quality and historical importance. They include Altamira, famous for paintings of boars, bison, deer and horses dating from the end of the Ice Age.

4. Take the train

Catch the FEVE narrow-gauge railway, one of the most spectacular lines in Europe. It runs along the coast between Bilbao in the east and El Ferrol in the west, travelling over dramatic viaducts and offering stunning views of the coast. The fares are cheap and travellers can jump off the train at picturesque bays and fishing ports.

A load of old bull: Ancient paintings adorn the Altamira cave near Santander

5. Wonderful history

Discover cities that have fascinating historical connections with the UK.

Charles Wolfe's The Burial Of Sir John Moore After Corunna used to be a poem that British school children learnt by heart: 'Not a drum was heard, not a funeral note, As his corpse to the rampart we hurried; Not a soldier discharged his farewell shot O'er the grave where our hero we buried…'

Nowadays Corunna is known as A Coruña. The city is a perfect short-break destination in its own right with great hotels and plenty of good restaurants and bars.

Travel Facts

Brittany Ferries (            0871 244 1400      , www.brittanyferries.co.uk) operates luxurious cruise ferries to Spain with a choice of routes from Portsmouth and Plymouth to Santander and Bilbao. Travel to Spain with a one or two-night cruise on a luxury ferry and enjoy comfortable cabins and plenty of entertainment, including cinemas, swimming pool and quality restaurants.

Return fares for a car plus two people cost from £470 including en suite cabin accommodation.

New guidelines for Ascot dress code

 

The fashion stakes are always high at Royal Ascot but organisers are now raising the bar by banning fascinators in the royal enclosure. The decision is part of a move to tighten and clarify the dress code at the annual summer event and comes amid criticism of sartorial standards which have been more loosely enforced in recent years. Thousands of visitors who flock to the less formal grandstand enclosure during the week-long meet in June will also be obliged to adhere to strict new guidelines. Organisers have defended the changes and insist the revised dress code is designed to restore formality rather than encourage "elitism". Ascot spokesman Nick Smith said: "It is probably fair to say that the dress code hasn't necessarily been enforced quite as rigorously as we might have liked. "It is stretching a point to say standards have collapsed but there is no doubt that our customers would like to get back to a situation where it is universally acknowledged that this is a formal occasion and not an occasion where you might dress as you would at a nightclub." In the royal enclosure, this means fascinators - which are often favoured by the Duchess of Cambridge - are no longer deemed acceptable. The new dress code states: "Hats should be worn; a headpiece which has a base of four inches (10cm) or more in diameter is acceptable as an alternative to a hat." Women will also be expected to wear skirts or dresses of "modest length" which fall just above the knee or longer. This clarifies previous guidance which stated miniskirts were "considered unsuitable". For men, a waistcoat and tie are now compulsory in this area of the course and cravats will not be allowed. Black shoes must also be worn with morning dress. In the grandstand, which is open to the public and subject to less stringent rules, a hat or fascinator will be compulsory for women. This marks a significant change to previous years, when female racegoers were simply advised that "many ladies wear hats". Strapless or sheer-strap tops and dresses will be banned. For men, a suit and tie will now be imperative. The less formal Silver Ring will not be affected by the changes. Charles Barnett, Ascot's chief executive, said the overarching intention was to be "as helpful as possible" to visitors and to assist racegoers in understanding what is "cherished" about the dress code at Royal Ascot. He said: "It isn't a question of elitism and not being modern in a world where there is less and less requirement to dress smartly - far from it. We want to see modern and stylish dress at Royal Ascot, just within the parameters of formal wear, and the feedback we have received from our customers overwhelmingly supports that."

Elton John’s husband attacks Madonna after Golden Globes win, calling her ‘embarrassing’ and ‘desperate’

 

David Furnish was one angry man following last night’s Golden Globes in Hollywood, attacking Madonna for her ‘embarrassing’ speech (watch it below) after she beat his husband Elton John to Best Original Song. Advertisement >> Shortly after Madonna won the award for single Masterpiece – which she wrote for her own film W.E. – David logged onto Facebook and criticised the singer and the ceremony. He typed angrily: “Madonna. Best song???? F**k off!!! “Madonna winning Best Original Song truly shows how these awards have nothing to do with merit. Her acceptance speech was embarrassing in its narcissism.”

Tax adviser guilty of fraud scheme

 

A professional tax adviser from Bedfordshire has been convicted of trying to defraud honest taxpayers of £70 million, HM Revenue & Customs (HMRC) said. David Perrin spent his cut of the stolen cash on expensive second homes, exotic holidays, works of art and luxury cars, a spokeswoman said. The 46-year-old, of Leagrave, Luton, Bedfordshire, was found guilty at Blackfriars Crown Court and will be sentenced next month, she added. Perrin, deputy managing director at Vantis Tax Ltd, devised and operated a tax avoidance scheme which he sold to wealthy taxpayers in order to exploit the law on giving shares to charity, she said. The scheme allowed him to pocket more than £2 million in fees from unsuspecting clients. He used a network of finance professionals to advise more than 600 wealthy clients to buy shares, worth a few pence each, in four new companies he had set up, the spokeswoman said. He then listed the companies on the Channel Islands Stock Exchange and paid people money from an offshore account to buy and sell the shares simply to inflate their price. The share owners then donated 329 million shares to various unsuspecting registered charities and tried to claim £70 million tax relief on a total of £213 million of income and company profits. This was based on the shares being worth up to £1 each, rather than the pennies they were originally bought for. Perrin also used the bogus scheme to claim money back, the spokeswoman said. The scheme proved so popular that Vantis employees performed a smug celebratory song at their annual conference, to the tune of I will Survive, she said. It included the verse: "They should have changed that stupid law, they should have buggered charity, but they have left that lovely tax relief, for folks to pay to me." Jim Graham, HMRC criminal investigator, said: "With his knowledge of the tax system, Perrin thought that he was one step ahead of both HMRC and the law. "This cynical fraud not only stole millions of pounds from taxpayers, but also conned innocent charities into accepting gifts of virtually worthless shares, just so Perrin could inflate his own criminal earnings." Perrin was charged with cheating the revenue by dishonestly submitting and dishonestly facilitating and inducing others to submit claims for tax relief which falsely stated values of shares which were gifted to charities. He will be sentenced on February 9 and confiscation proceedings are under way, the spokeswoman said.

Top former art dealer faces 87 charges after fraud probe

 

One of Australia's former leading art dealers, Ronald Coles, faces up to 10 years in jail after being charged today with 87 offences relating to an alleged multimillion-dollar investment art fraud scheme. Mr Coles, 64, was ordered to appear at Gosford police station at 10am today. Fraud Squad detectives formally charged him following an "extremely protracted and legally intricate" two-year investigation into his business affairs. Under the Crimes Act, Mr Coles was charged with 77 counts of "larceny as a bailee" and a further 10 counts of "director/officer cheat or defraud". For more than 30 years, Mr Coles specialised in fine art by some of Australia's most celebrated artists, including Sir Arthur Streeton, Eugene von Guerard, Brett Whiteley and Norman Lyndsay. Advertising on national radio and television, he offered clients an opportunity to boost their life savings through the purchase of investment art, which he bought and sold on their behalf, using their superannuation funds. NSW Police launched Strike Force Glasson in January 2009 after a Fairfax investigation unearthed dozens of investors who were missing millions of dollars in lost art and money, all allegedly retained by Mr Coles. Today's police charges relate to more than $8 million in financial loss to a total of 43 clients nationwide. Mr Coles failed to make conditional bail of $50,000. It is understood he offered a car and paintings as surety but they were refused. He is due to appear at Gosford Local Court shortly.

Fire, power failures, crime and tragic overboard deaths are common on cruise vacations

 

A luxury cruise ship Costa Concordia leans on its side after running aground the tiny Tuscan island of Giglio, Italy, 

They're often billed as the ultimate in worry-free vacations. But cruise critics say these floating hotels -- some as high as 12 storeys tall -- aren't nearly as safe as claimed.

Fire, power failures, crime and tragic overboard deaths are common on cruise vacations, said Ross Klein, a Memorial University sociologist and author of two books on the cruise industry.

The ships, which can carry more than 4,000 passengers, are as big as towns, Klein said, packed with strangers often bent on having a good time. Many passengers wrongly let their guard down.

"People should go on cruise ships with their eyes wide open, to be aware that there can be accidents." Klein told CTVNews.ca.

Last year, 22 people fell overboard on cruise ships, Klein said. Some were accidents. Others were suicides. The vast majority were fatal, said Klein, who compiles cruise accident data for his website www.cruisejunkie.com.

Fires and power failures are also common, though rarely reported in the mainstream media.

Incidents include:

• In September 2010, an explosion aboard the Cunard's Queen Mary 2 caused a power failure as it approached Barcelona, causing it to drift off the Spanish coast.
• In November 2010, a drunken passenger dropped an anchor on a cruise enroute to Tampa from Mexico.

According to data Klein collected, the risk of sexual assault is nearly 50 per cent greater on a cruise ship than on land in Canada. He used data collected by the Federal Bureau of Investigation and internal industry documents used in lawsuits between 2003 and 2005.

"I believe passengers should go on to a ship well informed," Klein said.

"The industry markets itself as . . . . one of the safest modes of commercial transport in the world. And they want passengers to believe that if they come on a cruise ship they are virtually safe."

An umbrella group for the cruise industry says it's monitoring the latest accident off the Italian coast, where three people have died and dozens are missing.

The website for the Cruise Lines International Association said the group "would like to reassure other cruise passengers that all CLIA member lines are subject to the highest safety standards around the world and according to international maritime requirements."

CTVNews.ca called the association on Saturday, but there was no answer at its Florida office.

U.S. maritime lawyer Jim Walker once represented the cruise industry but switched sides about 15 years ago. Since then, he's represented dozens of passengers and crew members in lawsuits against cruise lines.

Mr. Walker represented the family of George Smith, who vanished from a Royal Caribbean ship while on his honeymoon in 2005. His family suspected foul play and claimed the cruise ship failed to properly investigate the disappearance. His family won a US$1.3 million suit against the cruise line.

Walker also represented a 35-year-old woman who said she was sexually assaulted by a crew member on a Royal Caribbean vessel. Walker said the woman's case resulted in tough reporting rules aboard cruise ships.

Walker urged passengers to be vigilant about crime and safety.

Despite potential dangers, Klein said he loves ocean travel and has taken 30 cruises.

"I love being at sea," he said. "I like to look at the horizon." At sea, he said, "time stands still. It's a wonderful feeling."

George Michael is in hospital suffering from pneumonia

 (Picture: Getty)

The singer, 48, is in the city’s AKH hospital as an in-patient and has cancelled his next few shows.

A friend told the Mail Online that he was on the road to recovery: ‘He got ill, it’s very cold in that part of Europe, and then he got pneumonia. He’s responding well to treatment, very good. But he has to rest. He’s got to let this illness run its course.’ 

Promoter Manfred Leodolter said yesterday: ‘Doctors have warned him for the moment against flying and he is getting rest in Vienna.’ 

Michael had to cancel a gig in the city on Monday as part of his 
Symphonica tour two hours before it was due to start. 

The gig in Vienna along with ones in Strasbourg and at Cardiff's Motorpoint Arena will be rescheduled, according to his publicist. 

The singer hopes to return to the stage on November 30 at Liverpool's Echo Arena. 

Michael's 47-date European tour started in Prague in August and features a 41-piece symphony orchestra.

Before it kicked off he said: 'I think musically this tour and album will be surprising because I'm being far more true to myself.' 

The star was forced to pull out of a show at London's Royal Albert Hall last month after falling ill with a viral infection and a high temperature. 

That gig has since been rescheduled for May 2, 2012.

The second series of Made in Chelsea, the UK's posh TV show, came to an end this week

The second series of Made in Chelsea, the UK's posh TV show, came to an end this week. For those are who out of the loop, this is an unintentionally funny scripted reality soap, which centres around the champagne lifestyle of a young wealthy social set who live, eat, drink, shop or club in Chelsea, then decamp to country mansions or exotic holiday locations most weekends.

The main characters are Spencer and Hugo, who sport Simon Cowell tribute hairstyles, and their blonde love interests, Caggie and Millie. Then there are the long-haired male co-stars: Ollie, whose hair rarely sees shampoo, and Fredrik, whose hair rarely experiences a comb.

Revenge is a dish best served ice-cold

Emily VanCamp, centre, plays Emily Thorne in the ABC drama series Revenge. Courtesy ABC

 

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Greg Kennedy talks to the star and producer of the latest high-gloss drama to come out of the US

Revenge is a dish best served ice-cold — but it's all the more delicious when it's whipped up by Emily VanCamp, who stars in Revenge as a calculating femme fatale out to destroy the billionaires who shattered her family years before.

Her unladylike revenge is sweeter than summer ice cream, as she deftly scoops deeper into the lives of the greedy in an American playground for the super-rich, the Hamptons, where secrets hide beyond emerald, diamond-cut lawns and fester behind the massive doors of sprawling oceanfront mansions.

The 25-year-old Canadian actress's star first twinkled in Everwood (as Amy Abbott, from 2002 to 2006) and grew brighter in Brothers & Sisters (as Rebecca Harper from 2007 to 2010). She also starred in the Hallmark Hall of Fame movie Beyond the Blackboard earlier this year.

If you're just joining the series, here's a little back-story: first of all, her real name is Amanda Clarke. Her father David Clarke, framed for terrorism charges when she was a little girl, died in prison. Her life destroyed, she ended up in a juvenile detention centre, believing the lies that her dad was a murderer who blew up an airliner. At 18, she inherited her father's millions, learnt the truth and changed her name to Emily Thorne. Now, she returns to infiltrate Hamptons' high society, hellbent on revenge on those she blames for her family's downfall.

It's no easy thespian trick to fashion a sympathetic character who's rich, coolly detached and ruthless, as the cherubic VanCamp does with her Emily Thorne, yet also infuse her with emotional warmth and vulnerability. It's a tall order to tweak a moral compass with such exactitude, so viewers fully engage and root for her. In the hands of lesser talent, a sociopath would result — yet with VanCamp, Emily's almost demure.

Marzuki Defends Lifestyles of Indonesia's Rich and Elected

 

House of Representatives Speaker Marzuki Alie has found himself in a familiar position, back on the defensive over the extravagance of legislators. Even while acknowledging a small problem with lawmakers living “hedonistic lifestyles,” he attacked the head of the Corruption Eradication Commission (KPK) for making that same claim. Busyro Muqoddas, the KPK head, this week criticized lawmakers for their shows of wealth, which he said were out of place for so-called people’s representatives. And on Tuesday, Constitutional Court chairman Mahfud M.D. called on lawmakers to curb their extravagance. Marzuki, from the president’s Democratic Party, responded by saying that Busyro should focus on his own job. “Stop with the inflammatory statements,” he said.

Queenstown’s home to expensive, palatial pads – but even the rich and famous have suffered in controversial new property valuations.

Sir Michael Hill's Arrowtown home	Vanessa van Uden's Kelvin Heights digs

Peter Thiel's Queenstown Hill pad	Sir Eion Edgar's Kelvin Heights place

Queenstown’s home to expensive, palatial pads – but even the rich and famous have suffered in controversial new property valuations. 

Nationwide property monitor Quotable Value has recently released its new house and land assessments for the Queenstown Lakes District and most places appear to have dropped in value. 

Before the appeal period closes tonight, Mountain Scene researched some notable local homes to see how they’ve fared. 

Philanthropic millionaire Sir Eion Edgar’s sprawling Kelvin Heights super-home has dropped $100,000 to $6.7 million. The house of nearby resident, former chairman and director of Skyline and Mountain Scene owner, Barry Thomas, has dipped by the same amount. His pad is now worth $2.7m. 

Jeweller Sir Michael Hill’s luxury Arrowtown home has dipped $65,000 to $4.25m but Hollywood actor Sam Neill’s Dalefield estate has climbed $250,000 to $5.65m. 

Facebook tycoon Peter Thiel, who bought bankrupt developer Rod Nielsen’s “Plasma Screen” home on Edinburgh Drive in August, may have mixed feelings about his latest valuation. Previously worth $1.3m, it’s climbed to $2.5m – but it’s still nowhere near the $4.7m he paid for the place. 

The value of mayor Vanessa van Uden’s Kelvin Heights family home has climbed $5000 to $840,000. 

Van Uden laughs when contacted about her latest assessment. 

“Well thank you for finding that out for me, I obviously hadn’t paid attention.” 

Quotable Value acts independently of any local authority so QLDC has nothing to do with valuations. 

“All we know is we got a broad brush overview of the percentage drops in area groups,” Van Uden says. 

“I know empty sections, Wanaka houses and I think lifestyle properties have dropped quite a lot.” 

Still, she’s pleased her home has increased. 

“But in the end the property’s only worth what somebody’s prepared to pay for it if you want to sell it.” 

Queenstown’s Real Estate Institute spokesman Kelvin Collins claimed in Mountain Scene earlier this month that 60 per cent of the new values were inaccurate. 

Don't just book it, Thomas Cook it. So runs the slogan. Would you

 

Don't just book it, Thomas Cook it. So runs the slogan. Would you? Here's interim (that's reassuring) chief executive Sam Weihagen doing his safe-as-houses routine: "It's business as usual. We are trading within all our covenants. We have all the protection in place like any other travel company, and customers should not worry at all." Well, not quite like any other travel company. Thomas Cook of course holds an Air Travel Organisers' Licence from the Civil Aviation Authority which means customers should get their money back in the event of calamity. But the simple fear of being stranded a week after passengers of Austria's Comtel Air had to bribe pilots with £20,000 just to return to Birmingham is bound to unsettle would-be customers. There's a circle at work here and it is vicious. Given the choice between a similarly priced holiday with Thomas Cook or, say, Thomson, why would you risk the former? To counteract this, Thomas Cook might have to slash prices. That will eat into margins, cut profits and put banking covenants at risk. It might very quickly find it needs to borrow even more money. The company insists: "This is a robust business that has a strong future". We'll see.

Police were in dark over foreign axe killer living in UK

 

COPS did not know an East European axe murderer was living in the UK until he caused a killer car crash, a court heard yesterday. Intars Pless, 34, hacked through a friend's throat in his native Latvia, then moved to Britain after he got out of jail. But Lincoln Crown Court heard police can only check a foreign national's record if they break the law here. So Pless's horrific crime came to light only after he drove into moped rider Valentina Planciunene, 37, while over twice the limit. Stuart Lody, prosecuting, told the court: "On the night of Valentine's Day he decided it would be a perfectly good idea to drink a very large quantity of whisky. Surprised "He and a friend spent a considerable period of time drinking whisky and driving around. "During the driving he was possibly drinking whisky as well. An empty whisky bottle was found in the boot of the car. "At the time of the collision he was heavily under the influence of alcohol. His ability to drive would have been severely impaired." Pless was convicted of causing death by dangerous driving after the jury heard he left her dead in the road in Wyberton Fen, Lincs. He was told he faces a long jail term. The judge also called for his deportation.

Thomas Cook is running low on cash and has begun talks with its banks

Thomas Cook planes parked at Munich airport last year. Photograph: Alexander Hassenstein/Getty Images

Thomas Cook is running low on cash and has begun talks with its banks, in an effort to increase its borrowings to tide it over the slow Christmas season.

Shares in the tour operator fell by more than three quarters on Tuesday morning after it admitted that trading has "deteriorated" in recent months. It is now seeking to borrow more in the short term, and has postponed the publication of its financial results until the talks are concluded.

Shares in the company, which abruptly lost its chief executive three months ago, tumbled by more than 75% to 9.3p at one stage.

Tour operators tend to run low on cash in the slower winter months, but even so, the news stunned the City. Only last month, Thomas Cook said it had agreed a further £100m in short-term funding from its banks explicitly for the winter lull.

A spokeswoman said that discussions with banks were merely a "prudent" and "pro-active" move. Thomas Cook still has cash in the bank, she said, but wants to be prepared for any unexpected shocks over Christmas. All customer orders are protected by the ATOL protection scheme and equivalent programmes, she added. "Thomas Cook still has cash on the balance sheet, but because conditions have deteriorated further [since October], particularly around trading, some of that extra funding has been used up. Thomas Cook feels it needs more headroom to be prudent," she said.

Interim CEO Sam Weihagen added: "It's business as usual. We are trading within all out business, and financial, covenants, we have all the protection in place like any other travel company, and customers should not worry at all."

The company is seeking roughly £100m more in its latest talks. It made the decision to renew talks with banks on financing after realising the scale of the recent downturn in an internal trading update meeting yesterday.

Chicago cops accused of working for Latin Kings held without bond

 

Two Chicago police officers accused of committing armed robberies at the will of alleged Latin King members were ordered held without bond Monday. Alex Guerrero, 41, and Antonio C. Martinez Jr., 40, were the ones in handcuffs Monday afternoon, appearing before a federal judge in orange Porter County jumpsuits. The duo were named in a 46-page indictment unsealed Friday that alleges a racketeering conspiracy among fifteen Latin King gang members or associates. Guerrero's attorney, Kevin Milner, fought for his client to be on home detention. He said his clients' parents offered to put up their $175,000 Chicago home for their son's pretrial release. "For Mr. Guerrero to violate his bond, his parents would be on the street homeless," Milner said. "I've known Mr. Guerrero for 15 years. He would rather slit his wrists than do that to his parents." Milner claimed there was no evidence against Guerrero, and that the father of six had no criminal record. According to the indictment, Guerrero and Martinez Jr., committed armed robberies of drug dealers in Illinois and Indiana while in uniform and under the guise of performing legitimate police operations. They allegedly turned over the drugs and money to the Latin Kings in exchange for about $10,000 in kickbacks. Assistant U.S. Attorney David Nozick argued that Guerrero and Martinez were dangers to the community after using Chicago police vehicles, service weapons and uniforms to rob people at gunpoint. Nozick also said Guerrero was a flight risk, as his wife has family in Mexico and he faces up to life in prison.  Magistrate Judge Andrew Rodovich ordered Guerrero held without bond. Milner said they were disappointed with the decision, and that his client would be sitting in jail for at least a year pending trial for a crime he did not commit.  "I don't know who will give him that year back," Milner said. Martinez Jr., did not contest being held pending trial.

Police on the Costa del Sol were yesterday hunting a gang who stole £1million of cocaine from a warehouse where authorities held seized drugs before destroying them.

Police on the Costa del Sol were yesterday hunting a gang who stole £1million of cocaine from a warehouse where authorities held seized drugs before destroying them.

The thieves used laser equipment to cut through the metal doors of the store in the docks at Malaga, the capital of the southern Spanish holiday coast. 

They struck when there were no security guards on duty and  it had been left to the paramilitary Civil Guard to watch the building.

The drugs were being stored in a warehouse in Malaga when the thieves struck

 

Drugs seized by police and customs are stored there for tests to be carried-out before the courts issue orders to destroy them.

Prison for man who left €5,000 bill at Marbella hotel

 

A MAN has been sentenced to a year in prison for failing to pay a bill of more than €5,438 at a luxury Marbella hotel. He had been staying at the Marbella Club on the Golden Mile for a week in September 2003 and during the stay, used different services which amounted to €5,438, which he left without paying. The hotel made a formal complaint but the trial wasn’t held until this year mainly due to difficulties locating the man. He admitted that he has stayed at the hotel but had refused to pay the bill because he thought it excessive for the services he had received. His lawyer maintained that he attempted to reach an agreement with the hotel, which the manager claims that he had shown no intention of paying, and that until the day of the trial, when he handed in €3,349, he hadn’t received any money from him. The judge considered that the man had intended to commit fraud and he was sentenced to two years in prison and the payment of the bill plus interests. He appealed, and Malaga Provincial Court, although maintaining that he intended to commit fraud, reduced the sentence by one year because he had attempted to repair some of the damage by bringing a large part of the money he owed to the trial to give to the hotel.

Gang targets wealthy diners

 

Diners at some of the city's most popular restaurants had their credit card details stolen by waiters working for gangs, who targeted customers with American Express black cards, then spent millions of dollars on expensive clothes and vintage wine, it is alleged. The cards of wealthy customers at Smith & Wollensky, the Capital Grille and Wolfgang's Steakhouse restaurants were allegedly "skimmed" and used to buy Rolex watches, Jimmy Choo shoes and Chanel handbags. Almost 30 people have been charged with crimes, including racketeering, conspiracy and grand larceny, after the alleged fraud ring was broken by police in Manhattan. Seven waiters at the restaurants are alleged by prosecutors to have been recruited by Luis Damian "D.J." Jacas, the 41-year-old alleged ringleader, and equipped with card-copying devices. They were instructed to focus on customers with premium credit cards, including the American Express black card, so that expensive purchases would not trigger alerts to customers. "The thieves were very selective, waiting until they were handed cards with extremely high or unlimited credit," said Manhattan district attorney Cyrus Vance.

Alice Walton, heiress to the Walmart supermarket fortune and the the 10th richest woman in the United States, opened a spectacular fine art museum in her home town

Architect Moshe Safdie looks out of a window next to a large red untitled magnifying disk sculpture by artist Fred Eversley at Crystal Bridges Museum of American Art in Bentonville, Arkansas. Photograph: Danny Johnston/AP

When Alice Walton, heiress to the Walmart supermarket fortune and the the 10th richest woman in the United States, opened a spectacular fine art museum in her home town, she might have expected plaudits and gratitude. It hasn't quite worked out that way.

The long-awaited opening of the Crystal Bridges Museum for American Art in Walton's home town of Bentonville, Arkansas, has provoked mixed reactions. Some have celebrated the unveiling of a significant new private art institution, but many have criticised the decision to spend $1.4bn of company and family foundation money as the retail colossus cuts back its workers' benefits.

Protesters at the museum have informally joined forces with the Occupy Wall Street camps across the US and point to growing ties between the Occupy movement and established trade unions.

The museum, which opened last weekend and features a survey of American art from Benjamin West to Georgia O'Keefe, from Norman Rockwell to Andy Warhol, and from Joan Mitchell to Walton Ford, has also come under criticism from within the art establishment for both inflating values and buying masterpieces from impoverished art institutions without giving local institutions a chance to match Walton's offer.

While historians point out that this is little different from 19th-century robber barons such as Henry Clay Frick and Andrew Carnegie amassing vast collections of European art and bringing it to America, the prospect of hundreds of masterpieces in rural Bentonville, two hours' drive from Tulsa, is still controversial.

Walton, at 62 the youngest of Walmart founder Sam Walton's four children, started buying specifically for the project in 2005. The Moshe Safdie-designed institution, which sits in 120 acres of dogwood trees and trails minutes from downtown Bentonville, already has 440 works on display and 800 in storage.

"We set market records for very few pieces that we purchased," says curator, David Houston. "But there is latent criticism from an east coast elite that bringing a famous painting like Thomas Eakins's [$68m] Gross Clinic to Arkansas is itself an act of cultural vandalism. We're bringing art to the public, but it's a different kind of public, and there are social and political connotations to that."

In the week since Crystal Bridges opened, it has already seen 5,000 registered visitors. "Sheer curiosity and hunger for an institution like this bears out Alice Walton's vision," Houston says.

Ben Waxman, spokesman for the union-affiliated Making Change@Walmart, said: "Opening a huge, opulent museum in the middle of nowhere while the company is cutting health insurance for its employees is troubling. It sends the message Wal-Mart doesn't care about them."

The issues of wealth distribution that have brought art into conflict with the labour movement at Crystal Bridges have also been on display at Sotheby's during the billion-dollar modern, impressionist and contemporary sales earlier this month in New York.

Since August, when Sotheby's dismissed 43 unionised art handlers, its salesrooms have been besieged by Teamsters union members, bearing an inflatable rat and a fat cat banker with a cigar in one hand and throttled worker in the other. "The company is having its most profitable year in 267 years and they locked us out in the middle of our contract," said Teamsters member Phil Cortero. "Sotheby's represents the richest people in the world. When you lose your shirt down on Wall Street you come and hock your stuff here."

Increasingly, the Teamsters are joined by Occupy Museum activists, chanting "We are the 99%!" They protest that the multimillion dollar art handled by auction houses is used to maintain and transfer the wealth of the 1%.

Outside Christie's, which is not involved in the dispute, Los Angeles property developer Eli Broad, one of America's wealthiest men, confirmed as much to the New York Times. "People would rather have art than gold or paper," he said.

OWS Labor Outreach member Mike Friedman said that Occupy had no problem with the art itself. "But at a time when we're seeing cutbacks in health and education spending, we're seeing the transfer of wealth by way of tax cuts and subsidies to an elite who use excesses of that transfer to buy these magnificent works of art."

With the end of the Zuccotti Park sit-in, Occupy says it plans to initiate focused protests against cultural institutions associated with big Wall Street donors. It has singled out Lincoln Center, home to the New York Philharmonic, the Metropolitan Opera and New York fashion week, which is financially supported by Tea Party funder David Koch.

Back at Crystal Bridges, Houston argues that it will take years to see the full effect of how the Walton family has used its wealth. The family foundation is active in a whole variety of charitable activities, many of them educational, he says. "Their intent is not to create a shrine to an individual or even a family. Their goal is to create a tremendous cultural resource in this part of the world."