Wednesday, 5 February 2014

Unemployment statistics show young people fared worst in recession

 Job Centre Plus offices in Derby city centre
Job Centre Plus offices in Derby city centre. ONS stats show that young bore the brunt of the rise in unemployment during the recession. Photograph: Rui Vieira/PA
Young people in Britain have borne the brunt of the financial crisis, with a larger proportion of 16- to 24-year-olds now out of work than any other age group.
The unemployment rate among 16- to 17-year-olds is 35.9%, and 18% among 18- to 24-year-olds, according to the Office for National Statisticsin its latest economic review.
In contrast the rate falls to 4.7% among 35- to 49-year-olds, and 4.4% among 50- to 64-year-olds.
Those aged between 18 and 24 accounted for almost 30% of the rise in the unemployment rate between the first quarter of 2008 and the peak in unemployment in the fourth quarter of 2011, roughly double their proportion of the labour force. Over that period the overall jobless rate rose from 5.2% to 8.4%.
Older workers have fared relatively better during the crisis. People aged 35 to 49 make up a bigger proportion of the UK workforce, at just over a third, but only accounted for about 20% of the increase in the jobless rate over the period.
"The burden of higher unemployment has therefore fallen most heavily on younger workers; while the recent fall in unemployment rates has benefited workers aged 35-49 proportionately more than those aged 18-24 and 25-34," the ONS said in its analysis.
Between the peak in the final three months of 2011 and the three months to November 2013, the jobless rate fell among all age groups, although none has returned to their lower pre-crisis rates. The rate has dropped from 20% to 18% among 18- to 24-year-olds, and from 8.1% to 6.7% among 25- to 34-year-olds.
The latest available data showed that the jobless rate overall fell to 7.1% in the three months to November, from 7.4%, with 2.32 million people out of work – 167,000 fewer than in the three months to August.
The ONS noted that while Britain's dominant services sector was the main driver of 0.7% economic growth in the fourth quarter of 2013, and output in the sector has returned to pre-crisis levels, there has been poor productivity growth in services, which accounts for 78% of the economy.
"The weakness of labour productivity in the UK largely reflects poor productivity growth in the services sector and in the non-manufacturing elements of the production sector, including the extraction industries," it said.
"Output per hour in manufacturing returned to strong growth during 2010 and 2011, but has since then suffered another large fal

Anglo Irish Bank chiefs' lending practices 'absolutely illegal', court told

Sean FitzPatrick, former Anglo Irish Bank chairman
Sean FitzPatrick, former Anglo Irish Bank chairman, is one of three ex-bosses accused of unlawfully providing financial assistance to 16 individuals. Photograph: Niall Carson/PA
Former executives at the Anglo Irish Bank broke company law and carried out lending practices that were "absolutely illegal", a Dublin court heard on Wednesday.
Three ex-bosses flouted the rules when the now-defunct institution lent hundreds of millions of euros to 16 people in the summer of 2008 at a time when its share price had collapsed, the Irish state's prosecutor said.
On day one of the trial of former executives Sean FitzPatrick, William McAteer and Patrick Whelan, Paul O'Higgins, the senior counsel for the Irish Director of Public Prosecutions said the bank's lending to these individuals had "nothing whatsoever to do" with normal lending practices.
The trio all pleaded not guilty to charges that they had unlawfully provided financial assistance to the 16 individuals, who include Ireland's one-time richest man, Sean Quinn.
In his opening speech to the 15-strong jury – a historic first in juror numbers in Irish legal history – the state's lawyer said the bank was so desperate to get members of the Quinn family to borrow from it, even as it struggled for survival in the summer of 2008, that its executives followed some of the Quinn family to holidays in Portugal and the south of France.
O'Higgins told the trial that when holidaymakers saw their bank manager turning up at their resort they would be expected to "run for the sand dunes". But Anglo Irish bosses where so keen to convince the one-time tycoon's family to purchase the banks' shares with more borrowings that they went to resorts in the south of France and Portugal in 2008 to track them down, O'Higgins told the court. At the time Quinn and his companies already owed the bank over €2bn (£1.7bn) before they were offered more loans that summer, he said.
He said that around the time Anglo Irish Bank chiefs were offering the loans worth tens of millions of euros, the bank's share price had plunged from €17 per share in 2007 to €4.50 in the summer of 2008. The loans which the state says were illegal totalled €175m to the Quinn family and related companies, and €450m to the so-called Maple 10 group of Irish investors.
The trial in Dublin is likely to last up until 31 May, the court was told. It will hear from hundreds of witnesses and examine millions of documents. Quinn is a witness alongside several members of his family who will give evidence at one of the most complex and controversial trials in the history of European financial crime. There was no sign of any of the expected protests outside the court buildings close to the city's Phoenix Park on Wednesday morning as the three former executives arrived.
The opening proceedings, in a packed court No 19, were taken up with finding a 15th juror. At the start of the trial, the judge, Martin Nolan, told the courthouse he had received a letter from a male juror that led to him being relieved of his duties. The trial continues.

Royal Mail staff win 'groundbreaking' deal on jobs, pensions and practices

Dave Ward, general secretary CWU
Dave Ward, general secretary of the CWU, which, in return for the deal, has signed up to measures preventing local strikes. Photograph: Fiona Hanson/PA
Royal Mail workers have voted overwhelmingly in favour of a long-term deal on post-privatisation terms and conditions hammered out between their union and the company.
More than nine in 10 workers who voted in the CWU union's ballot supported the "groundbreaking" agreement announced early in December.
The union had pledged not to call industrial action before Christmas but otherwise reserved the option to strike until the deal was ratified by its members.
The agreement, seen as a move towards German-style long-term industrial co-operation, secures a 9.06% increase in basic pay over three years.
It also features five-year guarantees on job security, pensions and other conditions, and increases union involvement in the running of the business.
In return the CWU has signed up to measures designed to prevent local strikes, which have afflicted Royal Mail for years. The union has also agreed to measures removing the threat of national action.
It undertook to bring in national union and company officers immediately to resolve local disputes and move to independent mediation within a week, as well as use more independent mediation at national level.
The union will also take part in a monthly "growth forum" with company bosses, and make presentations to Royal Mail's full board.
The deal stops short of a no-strike agreement, but Royal Mail can withdraw from the employee protection agreement if the CWU holds national industrial action.
Both sides welcomed the vote – with 96% in favour of the changes – held between 22 January and 5 February.
Dave Ward, deputy general secretary of the Communication Workers Union, said: "We are extremely pleased to secure this groundbreaking deal with Royal Mail, which postal workers have overwhelmingly voted to accept.
"The agreement bucks trends in UK employment, and means Royal Mail, as a private company, cannot adopt the type of employment model and practices that are undermining workers everywhere. Although we retain the right to strike, a fresh approach to industrial relations will help create industrial stability."
The CWU fought a long battle to preserve its members' terms and conditions under Royal Mail's new ownership by City investors. The risk of a national strike was cited as one factor in what critics called a cut-price valuation of Royal Mail shares in the company's flotation in October.
The union opposed privatisation but called off its threatened strike before the flotation, to allow talks to continue.
The five-year deal includes:
• No franchising or outsourcing of businesses.
• A ban on zero-hours contracts for Royal Mail employees.
• A full-time workforce with the aim of no compulsory redundancies.
• No downgrades to employees' agreed working conditions.
• Extra payments by Royal Mail into employees' pension schemes.
Moya Greene, Royal Mail's chief executive, said: "I am pleased that our people have voted in favour of the terms of the agreement. This is the first critical step to provide long-term stability and certainty for Royal Mail, our employees and our customers. Now the hard work starts. Working together we will create a strong foundation for the continued success of our business.

Scottish independence: Cable says RBS would have to move to London

Business secretary Vince Cable answers questions on the possible impact of Scottish independence
Business secretary Vince Cable answers questions on the possible impact of Scottish independence. Photograph: Pa
Vince Cable has insisted it is "almost certain" that an independent Scotland would need its own currency and warned that Royal Bank of Scotland would move to London in the wake of a breakaway.
The business secretary told a committee of MPs that the problems setting up a viable sterling currency union between Scotland and the UK were so significant that Alex Salmond, the Scottish first minister, would need a Plan B to use a new or different currency.
Cable's warnings follow recent interventions from Mark Carney, the governor of the Bank of England, the chancellor George Osborne, andBob Dudley, the chief executive of oil group BP, on the difficulties of agreeing a new currency union should Scotland vote for independence in September, which has buoyed the no campaign and UK ministers.
"The plan B is a fully separate currency," Cable told a House of Commons Business, Innovations and Skills committee hearing intoScottish independence, as he signalled a hardening of the UK government's stance on the proposal.
"The logic of what the governor and other people have spelled out is that the problems of a currency union with an independent Scotland are so difficult, so tricky, that it would almost certainly prove to be in Scotland's interests - and indeed the rest of the UK - that Scotland did have its own currency."
He continued: "The basic arguments about the problems about operating a monetary union suggest that Scotland would finish with its own currency, with all the advantages and disadvantages attached to it."
Cable also told the committee that he believed Edinburgh-based RBS, a pillar of Scotland's financial establishment, could decide to shift its headquarters to London if there was a yes vote in the referendum, because only the UK economy would be large enough to protect it.
"If you were managing RBS, I think you would almost certainly want to be in a domicile where your bank is protected against the risk of collapse," he said. "They already have a substantial amount of their management in London and I would have thought, inevitably, they would become a London bank which would be symbolically quite important."
However, by 2016 – the expected year Scotland would declare independence after a yes vote in the referendum, RBS is likely to be privately owned and no longer under state control, giving the bank's board far greater independence on business decisions. RBS has repeatedly said it has no view on the independence issue.
"On the issue of independence we are politically neutral," said an RBS spokesman. "We don't support political parties or political movements. We will respond to what voters decide and governments agree."
The Scottish National Party said it would be "absurd" for the UK to damage its trading links with an independent Scotland by failing to maintain a monetary union. A spokesman for John Swinney, the Scottish finance secretary, said: ""The pound is as much Scotland's as it is the rest of the UK's, and the [Scottish government's] fiscal commission working group, with experts including two Nobel Laureates, have concluded that it's in the interests of both Scotland and the UK to continue to retain sterling in a formal monetary union."
On Tuesday, Osborne again insisted that a currency union was highly unlikely, saying that "I don't think a workable currency can be created." BP's Dudley spoke this week of "concern" over Scotland's monetary future.
Last week Carney said that the lessons of the euro crisis had shown that sterling pact would require stringent and mutually-agreed policies to control the fiscal policies of both governments – a catch-up category covering taxation levels, state debt and government borrowing.
It would also require UK taxpayers and ministers to underwrite Scotland's debts and the debts of Scottish banks like RBS and HBOS, both of were hours from collapse in 2008. Scotland's finance sector is estimated to 12 times larger than the Scottish economy.
Carney also said a currency union could succeed and would have significant advantages for the Scottish and UK economies because they were closely aligned and interdependent.
That echoes the position of the Scottish government, whose economic advisers have repeatedly recommended a sterling pact. Other economists insist that the terms of a currency union would be so onerous on Scotland it would no longer be fiscally independent.
Arguing that a sterling union is overwhelmingly in the UK's interests, Salmond vigorously disputes claims that such a deal would be unworkable, citing the tens of billions of pounds of cross border trade, and the significance of North Sea oil and gas reserves to the wider UK economy.
But there remains a deep divide over how great the UK government and Bank of England's influence would be on Scotland's taxation policy and its overall spending – a central issue in any future talks.
Salmond has insisted it would be minimal: UK ministers believe that control would need to be considerable to meet the Carney tests, although they have yet to spell out what they would demand of an independent Scotland to avoid pre-negotiating on independence.
Scottish ministers and the independence campaign point to recent opinion polls which show a large majority of UK and Scottish voters support a currency union, contradicting UK ministerial claims that English and Welsh voters would resist a pact.
One survey by Panelbase in December found 71% of voters in the rest of the UK agreed that Scotland should continue to use the pound.
The Scottish Social Attitudes Survey found 79% of Scots wanted to use the pound after independence, although only 57% said it was likely to. More than 20% thought Scotland would likely end up with the euro, and 16% a new currency.
But there remains a major divide over how great the UK government and Bank of England's influence would be on Scotland's taxation policy and its overall spending – a central issue in any future talks.
Salmond has insisted it would be minimal: UK ministers believe that control would need to be considerable to meet the Carney tests, although they have yet to spell out what they would demand of an independent Scotland to avoid pre-negotiating on independence.
Dudley became the most senior UK business leader to openly voice doubts about the currency union on Tuesday, saying it was a "major uncertainty" and "a question mark" for BP, along with Scotland's future membership of the EU.

David Cameron takes personal control as flooding crisis worsens

Prime minister leads meeting of Cobra emergency committee after criticism of official response to floods
Flooded Somerset Levels
Flooded land near Burrowbridge on the Somerset Levels. Photograph: Toby Melville/Reuters
David Cameron has taken personal control of emergency efforts to help households stricken by floods and promised "no restrictions" on help, as Labour accused the government of leaving people isolated and unable to cope with homes under water.
The prime minister led a meeting of Cobra, the government crisis response committee, moving aside Owen Paterson, the environment secretary, amid criticism of the official response to weeks of flooding, power outages and transport chaos.
The Environment Agency now has nine severe flood warnings in place, covering much of the south coast from Cornwall to Dorset, as well as the Somerset Levels. A further 65 flood warnings are in place across southern England, the Midlands and Wales.
With more than 300 properties under water and 8,000 homes without power, the army has been drafted in to offer planning advice and stands ready to provide troops. Police have used megaphone warnings from a helicopter to urge residents in the flood-stricken Somerset Levels to leave their homes.
In Devon, a 30 metre stretch of the seawall in Dawlish has been swept away leaving the main south-west rail line dangling over the sea. Rail services west of Exeter are likely to face weeks of disruption and Exeter MP and former Labour environment minister Ben Bradshaw has called for the line to be rerouted.
DawlishThe railway line is engulfed by waves in Dawlish, Devon. Photograph: Clive Postlethwaite/Rex
The Met Office and Environment Agency warned that the stormy weatheris forecast to continue into the weekend bringing the risk of more flooding and winds bringing down trees and causing more disruption to travel and power networks.
After pledging an extra £100m for flood maintenance and repair, Cameron warned of more bad weather to come and said he would do "everything that can be done" to help those affected.
"My sympathy is with everyone affected by the ongoing storms which are causing misery to communities and businesses across the country," he said. "With power outages, more flooding and more bad weather forecast, I have chaired a Cobra this afternoon to ensure that everything that can be done to get stricken communities moving is being done: there are no restrictions on help."
He also promised a "proper alternative service" for rail travellers in the south-west after seeing "shocking" pictures of a train line that fell into the sea in Dawlish in Devon during the latest storms.
There have already been 21 emergency Cobra meetings of government departments, including representatives from the Environment Agency, Ministry of Defence and Met Office, to respond to the threat of floods since before Christmas.
Prince Charles visiting the flood-hit village of Muchelney in SomersetPrince Charles in the flood-hit village of Muchelney in Somerset. Photograph: Getty
Cameron's greater involvement in the relief effort comes after the Prince of Wales called it a "tragedy" that some people had experienced delays in getting help.
"The tragedy is that nothing happened for so long. There is nothing like a jolly good disaster to get people to start doing something," Prince Charles said, as he visited some of the worst affected areas this week.
Despite the "serious situation", Cameron denied that the response so far had been inadequate or slow. He said "no amount of pumping will solve the current problem" completely because the land in the worst-hit Somerset Levels area is so saturated.
However, he admitted not enough had been done by the Environment Agency in recent years to dredge rivers in the south-west, where some parts have been flooded since Christmas.
Cameron also contradicted the claims of Lord Smith, the chairman of the Environment Agency, who has warned the body does not have enough resources to protect both the town and country.
Storm lashes SwanageWaves breaking over a jetty in Swanage, Dorset. Photograph: Paul Angel/Demotix/Corbis
The idea that only urban or rural areas could be defended from flooding was a "false choice", the prime minister said.
"From the late 1990s – far too long – the Environment Agency believed that it was wrong to dredge," he said. "I believe it is time for Natural England, the Environment Agency and the departments to sit round the table and work out a new approach that will make sure that something that did work, frankly, for decades and centuries is reintroduced again."
No 10 sources said the extra £100m for flooding repairs would be available over the next year and come from the contingency fund of the Department for Environment, Food and Rural Affairs (Defra), even though it is potentially earmarked for European Union repayments. The source said the EU would "have to wait" if the money was required.
There will also be changes to the emergency Bellwin fund, which is available to councils to claim back money spent on "emergency measures undertaken to safeguard life or property" during times of bad weather.
At the moment, local authorities can get 85% refunds on their costs, but now they will get 100% and have until March to make a request for flood aid.
Of the £100m, around £75m will be spent on repairs, £15m on maintenance and £10m on specific flood measures for the Somerset Levels. However, Friends of the Earth, the environmental campaigners, said this was "like trying to plug the leaks when the dam's about to burst", given the overall level of neglect in recent years.
Cameron defended the government against claims that spending on flood defences had fallen under the coalition, arguing more would be spent in the four years between 2011 and 2015 than in the previous four years under the Labour government.
However, a senior Labour sources said this was a "clear case of fiddling the figures", as Cameron included private sector spending in his calculations. In fact, government spending has fallen from £2.37bn to £2.34bn over those four-year periods. "They should stop playing with the statistics and get on with their job of helping those in need," the Labour source said.

Top 10 Android Applications by Pakistani Developers

 
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Pakistanis are striding ahead in many fields but IT crowd in Pakistan has grown prominent in the past few years. The whole world is slowly realizing the immense potential of the nation. We are proud to present some of the best Android applications that the PlayStore holds but these are not just any applications, these have been developed by our very own Pakistani Developers. Without further ado let’s get started with with 10 top android applications by Pakistani Developers, in no particular order!

1. Intellistats

Intellistats
Curious how statistics can be made interesting? Intellistats has done the job. The application is simple: it allows you to understand your smart phone usage including the phone calls, SMS and mobile data. Once you understand your patterns, you are able to make smarter decisions regarding your data plans and packages. The stats are provided in a visually arresting simplistic UI with the help of graphs and pie charts. It is a good design and a great application to have on your phone.

2. Groopic

Groopic
This application hardly needs an introduction but if you still don’t know, Groopic allows the photographer to feature in the picture himself/herself by taking two separate pictures. The application then intelligently merges them to form a perfect snap. The good news is that this viral application is finally available on the Android store and if you haven’t downloaded it already, you should!

3. AllSecure

AllSecure
Although it is still in Beta mode, AllSecure is an application worth trying. With features like Anti-theft and phone locator, AllSecure packs a strong punch, giving users the whole security solution with a single app.  Use it to locate your phone or ring an alarm on your device to find it quickly. It can also store a backup of your data. For a better security solution, you can upgrade to the paid version.

4. Hoodere

Hoodere
Life is fast paced and there is little time to sit and make plans with friends. More often than not, somebody has got a commitment and can’t make it. Eventually you just give up trying to find the perfect day to meet up or hangout. Now you can delegate the task to Hoodere and let the application take care of planning. It alerts you about what your friends are planning and allows you to generate plans to suit everyone, including yourself. Find out the friends around you and see what they are doing. Plan with Hoodere so your friends can know what you are upto and find more time to be with those you love.

5. Olaround

olaround
Olaround is a popular location-based reward earning service and if you haven’t been using it, you have been missing out alot. Olaround has partner venues which range from restaurants to shopping places. Using this application you can find out the retail outlets nearby and get instant discounts. Who doesn’t like a discount, eh? You can also find out what your friends are doing and can check in to new places using the application. It is interactive, fun and easy to use.
6. TossDown
TossDown
TossDown is one of the best databases of Pakistani restaurants all over the country, including their addresses, menus, special offers and customer reviews. For a nation that truly loves food, TossDown is a must have smartphone application. You can discover great places, avoid the horrible ones using customer reviews and have great dining out experiences. Follow people with similar taste and find out about their culinary journey across the cities or leave your own reviews about a place to help people out. TossDown even offers you special discounts at certain places!

7. SMSAll Messenger

smsall messenger
The current number of downloads are small but don’t let that deceive you. This is a top of line application developed specifically to suit the needs of Pakistanis. Unlike any other dedicated messaging application that you might be using on your smartphones, SMSAll appreciates the fact that there is still a large majority of feature phone users in the country. Even those who own smartphones often experience lack of connectivity thanks to power cuts and high mobile internet cost. It accommodates everyone: install the application and send a free message to any number across Pakistan, even to those who don’t have a smartphone. What’s more it allows you to chat in public forums using hashtags to find like-minded people while still keeping your phone number private! With major clients like Oxford University Press and PM Youth Program, it is only a matter of time before this application gets the recognition it deserves.

8. Toffee TV

toffeeTv
Ever complained about the lack of interesting educational stories for children in Urdu? You’re not the only one. Over the years, Urdu Language has taken a low priority for some teachers and parents while others feel stuck because of the inadequate resources available. Next Generation Innovations has taken a small step to remedy the problem. Toffee TV is a modern Cassette Kahani, a treasure trove of some of the best Urdu stories with illustrations that will hook your child’s interest. The application also includes fun activities and an Arts & Crafts section. The trial version available in the playstore will allow you to try 3 videos but you can buy the application for unlimited downloads. Toffee TV is a creative solution, one that addresses the need of parents and children today.

Chalo

chalo
GPRS based applications are highly popular all over the world because they are convenient. Chalo is a tailored GPRS based application for Pakistan that features hundreds of points of interest, allowing you to navigate quickly from one place to another. From restaurants to CNG stations, from ATMS to house addresses, this android applications does it all for you. You can even share the location with friends and family using the social networks and maintain a list of favorites for easier access.

LocPro

LocPro
LocPro is a simple application that lets you control your gallery access by detecting your location. You don’t have to worry about colleagues accessing your private photos or relatives accidently finding them when using your mobile phone because LocPro locks the photos based on your phone location. The application also allows you to set reminders using location whereby it can alert you of you are at a certain place. The application is smart and a perfect privacy solution for your photos

Tamanna to release on Pakistan Day

The official poster of the movie, Tamanna, has been unveiled, building anticipation. PHOTO: FILE
LAHORE: 
At Vogue Towers on Friday evening there was a sense of relief and joy as it was announced that the film Tamanna will be released on March 23rd, by Summit Entertainment. The film, produced by Sarah Tareen and directed by Steven Moore, starring Salman Shahid, Omar Rana, Mehreen Raheel and Feryal Gauhar, has taken just about three years to complete. The film is set to mark the first major Pakistani film release of 2014, and will follow-up the release of WaarZinda Bhaag and Mein Hoon Shahid Afridilast year.
“My entire experience of making this film was exciting. They say all is well that ends well, but this is just the beginning, it has been a great experience making a film on my home ground, I have high hopes that this film will be successful,” said Mehreen Raheel.
For Raheel, this is her follow-up to her debut film Virsa. The cast of the film comprises of a close-knit group of actors who have strong grounds in theatre and television. The charismatic Salman Shahid, who is fresh-off the release, remarked that he had done some theatre with Omair Rana and has worked with Mehreen Raheel’s mother Seemi Raheel.
Regardless, the cast and production team of Tamanna was relatively new on many levels for old Lollywood film journalists from Lahore, who are now coming to terms with the new faces. One of them was so confused and flabbergasted by the development, he asked producer Sarah Tareen, “Why have you left our heritage and forgotten our old Lollywood personalities such as Noor.”
Tamanna has been a work in progress for a long time.  It is an initiative by two ambitious young filmmakers, Sarah Tareen and Steven Moore, who are attempting to make a film that would be different. Tareen explained that there were different commercial styles of filmmaking and her goal was to bring story-telling on the screen.
“People have asked why it took three years. It’s very simple. Some countries have a studio system, over here that does not exist, so you have independent filmmaking. All these films that have been made are being done independently, people are raising their own funds and making films,” says Tareen.
The film is about Rizwan Ahmed (Omair Rana) a struggling actor who meets Mian Tariq Ali played by Salman Shahid, a relic of the once thriving film industry. The struggling actor is there to convince Ali to divorce his wife, and in the process engages in an ordeal which leaves only one of the two men alive. The film incorporates elements of dark humour, melodrama, crime, passion and revenge and is based on Anthony Shaffer’s play, Sleuth. It is written for the screen by Steven Moore and Ijlal Khan.
The film has already received considerable acclaim due to its soundtrack. The track, Koi Dil Mein, which has been sung by Rahat Fateh Ali Khan and composed by Sahir Ali Bagga, won the Best Music Talent in Film Award in the 14th London South Asian Film Festival 2012’s BAFTA ceremony. Come Pakistan Day, audiences will be able to determine if it deserves acclaim for the story and acting performances as well.