Jumat, 29 November 2019

UK PM Johnson implores Trump: please avoid the election - AOL

LONDON, Nov 29 (Reuters) - Prime Minister Boris Johnson said it was best if U.S. President Donald Trump did not get involved in Britain's upcoming election when he visits London for a NATO summit next week.

"What we don't do traditionally as loving allies and friends, what we don't do traditionally, is get involved in each other's election campaigns," said Johnson, whose Conservative Party has a commanding lead in the polls ahead of the Dec. 12.

"The best (thing) when you have close friends and allies like the U.S. and the UK is for neither side to get involved in each other's election."

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Boris Johnson at his party's annual conference

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Britain's Prime Minister Boris Johnson arrives for interviews at the Conservative Party Conference in Manchester, England, Tuesday, Oct. 1, 2019. Boris Johnson said Tuesday that his government prepared at last to make firm proposals for a new divorce deal with the European Union. Britain is due to leave the 28-nation bloc at the end of this month, and EU leaders are growing impatient with the U.K.'s failure to set out detailed plans for maintaining an open border between Northern Ireland and Ireland — the key sticking point to a deal. (AP Photo/Frank Augstein)

Prime Minister Boris Johnson reacts as he listens to Sajid Javid, Chancellor of the Exchequer, as he delivers his speech at the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019. The Conservative Party is holding its annual party conference as scheduled. (AP Photo/Frank Augstein)

Prime Minister Boris Johnson applauds as he listens to Sajid Javid, Chancellor of the Exchequer, as he delivers his speech at the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019. The Conservative Party is holding its annual party conference as scheduled. (AP Photo/Frank Augstein)

Britain's Prime Minister Boris Johnson and Home Secretary Priti Patel walk towards the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019.(AP Photo/Frank Augstein)

Britain's Prime Minister Boris Johnson and Home Secretary Priti Patel walk towards the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019.(AP Photo/Frank Augstein)

Prime Minister Boris Johnson gives a thumb up after Sajid Javid, Chancellor of the Exchequer, delivered his speech at the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019.(AP Photo/Frank Augstein)

Delegates spend their lunch break outside at the Conservative Party Conference in Manchester, England, Monday, Sept. 30, 2019. U.K. Prime Minister Boris Johnson faced political opposition and personal allegations Monday as he tried to fulfil his pledge to lead Britain out of the European Union in just over a month. (AP Photo/Frank Augstein)

Prime Minister Boris Johnson enters the hall to do morning interviews at the Conservative Party Conference in Manchester. (Photo by Peter Byrne/PA Images via Getty Images)

MANCHESTER, ENGLAND - OCTOBER 01: Prime Minister Boris Johnson arrives for the third day of the Conservative Party Conference at Manchester Central on October 1, 2019 in Manchester, England. Despite Parliament voting against a government motion to award a recess, Conservative Party Conference still goes ahead. Parliament will continue with its business for the duration. (Photo by Jeff J Mitchell/Getty Images)

Britain's Prime Minister Boris Johnson is seen outside the venue for the Conservative Party annual conference in Manchester, Britain October 1, 2019. REUTERS/Henry Nicholls

Britain's Prime Minister Boris Johnson is seen outside the venue for the Conservative Party annual conference in Manchester, Britain October 1, 2019. REUTERS/Henry Nicholls

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Trump has already waded into the election, saying in October left-wing opposition leader Labour Party, Jeremy Corbyn, would be "so bad" for Britain and that Johnson should do a pact with Brexit Party leader Nigel Farage.

Corbyn has used Trump's praise of Johnson as one of his focal messages to attack the Conservatives in his campaign, saying they would sell off parts of the much-loved state-run National Health Service to the U.S. businesses after Brexit if they win the election. 

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2019-11-29 11:01:01Z
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Ice Sculpture Steals Show at U.K. Climate Debate That Boris Johnson Skips - The New York Times

Five leaders of British political parties called for dramatic action to confront climate change in a televised debate on Thursday, just two weeks before the country’s general election.

A melting ice sculpture stole the show.

The sculpture stood in for Prime Minister Boris Johnson, the leader of the Conservatives and the figure who seems to loom over all of British politics. His absence fueled criticism that he has sought to avoid both the public and tough questions from the press during the election campaign.

The ice sculpture infuriated Conservatives, some of whom accused the host network, Channel 4, of partisan bias.

Mr. Johnson did send an emissary in his stead: Michael Gove, a cabinet member who formerly served as the environment minister, but Channel 4 said the debate was for party leaders only.

Nigel Farage, the leader of the right-wing Brexit Party, also declined to participate. Channel 4 erected an ice sculpture for each of the two missing candidates, flanking the five politicians who attended. The channel said the ice sculptures — one marked “Conservatives” the other “Brexit Party” — “represent the emergency on planet Earth.”

Before the debate, the opposition Labour Party had accused Mr. Johnson, who leads in the polls ahead of the Dec. 12 election, of being afraid to face the press. Mr. Johnson and the BBC have yet to confirm that the prime minister will sit down for an interview with Andrew Neil, who grilled the Labour leader, Jeremy Corbyn, this week.

Conservatives threatened to review Channel 4’s broadcasting license after the election, according to BuzzFeed News and The Guardian.

Channel 4’s editor, Ben de Pear, referred to the license threat on Twitter, writing: “Put your leader Boris Johnson alongside the other leaders and stop playing games.” He added, “All the parties complain about us, but they’re here.”

Mr. Gove blamed the other party leaders for refusing him entry onstage, saying they “wouldn’t accept a Conservative voice.” He added: “I think that’s a denial of debate. I think that’s a denial of democracy.” He later answered questions from the public on Facebook.

Mr. Johnson did not explain his absence. In a video that Mr. Gove tweeted of himself arriving at Channel 4, he said that Mr. Johnson could not attend “at the moment.” Asked if the prime minister was “otherwise committed,” Mr. Gove replied, “indeed.”

At the debate itself, Mr. Corbyn and the leaders of the Green Party, the Scottish National Party, the Liberal Democrats and Plaid Cymru, or the Party of Wales, argued over courses of action Britain could take to combat climate change. Among the topics discussed: insulating and retrofitting homes; moving to solar and wind energy; planting millions of trees; eating less meat; and saving British wildlife like the hedgehog.

Though the leaders emphasized different priorities, all agreed on the urgency of addressing climate change and outlined ambitious proposals, like “a green industrial revolution,” promised by Mr. Corbyn. In June, the Conservative government of Mr. Johnson’s predecessor, Theresa May, vowed to cut greenhouse gas emissions to almost zero by 2050.

The other issue that has loomed over the election, Brexit, also made a brief appearance. Jo Swinson, the leader of the Liberal Democrats, called Britain’s withdrawal from the European Union “a climate crime,” saying, “it’s morally wrong to give up our seat at the table.”

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2019-11-28 23:40:00Z
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Kamis, 28 November 2019

'They don't know we're here': In Britain's most pro-Brexit town, voters are still angry and disillusioned - CNBC

Shoppers walk past an empty commercial unit in the central market square of Boston, England, Nov. 8, 2019.

Elliot Smith | CNBC

BOSTON, England — With Britain facing its second general election since the historic vote to leave the European Union in June 2016, voters in the nation's most pro-Brexit town are even more angry and disillusioned than they were three years ago.

More than three quarters of the people of Boston, in the county of Lincolnshire in the East Midlands of England, voted to leave the EU.

According to the most recent U.K. census in 2011, Boston also has the highest proportion of eastern European immigrants of anywhere in the U.K., after an influx of EU workers to the area's agricultural sector, earning it the label of Britain's "most divided town."

Between 2004 and 2014, the town's migrant population grew by 460%, and the proportion of residents of the Borough of Boston born in EU accession countries such as Lithuania, Poland and Latvia, stands at around 12%.

The center of the quaint English farming town is a melting pot of local and eastern European chatter as residents work, shop, visit the bank, the drug store, the pub, and co-exist seemingly without incident.

Yet the first word out of the mouth of every local when asked about the difficulties facing the town is "immigration."

St. Botolph's Church, known in typically blunt local parlance as the "Boston Stump," formerly served as a landmark to sailors arriving at the town's docks. In its neighboring Stump & Candle pub, cries of "sh-t", "fed up" and "p----d off" ring out when the current state of British politics is mentioned.

Brexit, immigration and the death of hope

Slogans like "will of the people" and "leave means leave" still dominate the local lexicon, and almost to a man, the regulars will be voting for Prime Minister Boris Johnson's Conservative Party next month in the hope of getting Brexit over the line before the extended deadline of January 31. The simmering frustration with opposition lawmakers for their successful attempts to block a "no-deal" Brexit in Parliament is palpable.

The constituency of Boston and Skegness has been a safe Conservative seat since its inception in 1997, and the party is almost certain to retain it in December after Brexit Party leader Nigel Farage announced that he would not stand candidates in seats carried by the Conservatives in 2017.

The River Witham and St. Botolph's Church, known locally as the 'Boston Stump', in Boston, England, Nov. 8, 2019.

Elliot Smith | CNBC

This notwithstanding, nobody in Boston seems to believe that the upcoming general election will resolve the country's political divisions, and the tone is one of exasperation.

"I'm not bothered if there's a deal or no deal," one regular says indignantly. "Everybody's frightened to death about what might happen, but nobody knows what will happen. We should just go with the deal, but the opposition are always going to block it."

Some of the patrons accuse migrants of "coming over here to claim benefits" while others simultaneously allege that they have taken jobs and opportunity away from low-skilled workers in the area.

Migrants from the eastern European countries which joined the EU after 2004 are more likely to be in work than British born working-age adults, according to the Migration Advisory Committee.

Boston's employment rate is comfortably higher than the U.K. average and its percentage of out-of-work benefits claimants sits at 2.7% compared to a national average of 2.9%, according to the latest figures from the Office of National Statistics.

Boston's total population did grow by nearly 16% between 2001 and 2011, double the national average, but around 42% of the town's workforce is employed in the categories of "process plant and machine operatives" or "elementary occupations," versus a national average of just below 17%.

Its proportion of workers employed in managerial, professional or technical occupations is 18.4% versus 47.1% across Great Britain. Median wages are well below the national average.

The bottom 10% of earners are more detrimentally affected by EU migration, but the change is comparatively small compared to overall wage growth for U.K.-born workers. So while low income U.K.-born workers experience more of the negative impact of increased unskilled migration compared to higher earners, this is outstripped by the average increase to their wages over that same period.

An Oxford Economics study in 2018 estimated that EU migrants' annual net tax contributions are approximately £2,300 ($2,960) more than the average U.K. adult.

A Union Jack flies from an apartment block against the backdrop of the 'Boston Stump' in Boston, England, Nov. 8, 2019.

Elliot Smith | CNBC

One man in his sixties who spoke to CNBC in the Stump & Candle attributed the disgruntlement not to the migrants themselves, but to a lack of U.K. government spending to enable public services to deal with the surging population.

"Did they give us more police, more doctors, more hospitals, more schools, better roads? Did they give us anything to cope with it? No. We got dumped on," he says, adding that Boston used to be a "beautiful little town and still could be," but has been reduced to an "empty shell."

'We've been robbed blind'

Contrary to his peers, he welcomes the presence of migrant workers as a positive for the area, but claims the presence of large supermarkets at the expense of local businesses has "drawn the lifeblood" out of Boston.

"In the old days, that money used to circulate in Boston, we all got a bit of it. It would go round and round and round — now the money flies, it's gone, we never see anything," he says.

The group paints a dystopian picture of Boston's decline, describing a wasteland of boarded up windows, businesses closing down to be replaced by charity stores.

There are indeed an increasing number of empty commercial units dotted throughout the central shopping district, but as locals greet one another gleefully on the sidewalk on a wintry Friday morning, it evokes greater likeness to the archetypal sleepy, post-industrial East Midlands town than the nightmare they are depicting.

A vacant furnishing store in Boston, England, Nov. 8, 2019.

Elliot Smith | CNBC

Much of the anger which fueled the Brexit vote seems to stem from a sense of neglect by consecutive British governments, rather than any long-running gripe with the EU itself.

"When you come up from London and you see the roads in London, and then you see from Peterborough to here, they don't spend any money on any of it," the man points out indignantly.

"We're stuck out here in the Wash, nearly in the North Sea, and they don't even know we're here. That's what it's all about."

Responses vary with regards to what Brexit will achieve, however.

"We don't want to be dictated to!" one elderly gentlemen yells from across the room, which by now has escalated from a quiet midday hum to a bellowing cacophony. "I'm not bothered, as long as we're out!" a gaunt, wild-eyed man shouts, adding that "it'll get rid of the foreigners."

"It's not going to solve anything," the first man sighs, "because we've got no pull on government, we've got no voice, we've got nothing to help us."

He points out to his friend that Boston will still need EU migrant labor on the farms and in the packhouses, but says the money which once circulated within the local economy will still "fly away" and the town will continue to be "robbed blind."

Strained public services

Financial pressures on the U.K.'s national health service (NHS) are, aside from Brexit, one of the pre-eminent battlegrounds in British politics.

A burly man in his late fifties says the local NHS is "overwhelmed" and "you can't get a doctor's appointment," while the gaunt man angrily claims that he has been waiting over a year for a pacemaker.

Out in the central market square, Pat, a 74-year-old former secretary at Boston's flagship Pilgrim Hospital, claims it is no longer "fit for purpose."

"We can't blame the foreigners for everything but our services are stretched to the limit and have been for a good few years due to the influx of people coming here," she says, adding that the "schools are packed to capacity" and "English children are having to be held back" due to the growing proportion of non-English speaking pupils.

NHS trusts across the country are spending more than they are bringing in, and the NHS was asked several years ago to find £22 billion in savings by 2020, prompting further cuts.

A commercial unit sits empty beside a pawn shop in Boston, England, Nov. 8, 2019.

Elliot Smith | CNBC

United Lincolnshire Hospitals Trust, which runs the Pilgrim, has racked up almost £4 million in fines for missing key waiting time targets over the last four years.

Meanwhile, EU immigrants make up about 5% of English NHS staff and about 5% of the English population, according to the best available data. Across the U.K., EU immigrants make up 10% of registered doctors and 4% of registered nurses.

Pat does not think the election will help to heal the nation's divisions, and suggests lawmakers on both sides of the aisle need to "get round the table and work together."

She empathizes with ousted former Prime Minister Theresa May and complains that under Johnson, the country is "two steps back from where we were" on Brexit. "We've become the laughing stock of the world," she says, adding that she is unsure which way she'll vote in December.

A young woman nearby confirms that she will vote Conservative, but is not sure how it will help, or whether anything will change in Boston, regardless of the result.

'Everyone is going home'

Contrary to the bleak representation of the town given in the Stump & Candle, the Bulgarian grocery store neighboring it is bustling with activity, and the two female clerks chat jovially in native dialect to customers and a group of men congregated by the store room.

Beside them are a string of Western Union posters headlined "Know Your Rights" and containing a string of advice for migrants on how to avoid exploitation and discrimination.

"It is your right to be treated honestly and fairly," the top bullet point reads.

Graffiti on the wall of a private car park in Boston, England. Nov. 8, 2019

Elliot Smith | CNBC

Interaction between Bostonian and Eastern European residents seems minimal at best. One 28-year-old employee at a Romanian butchers has lived here for six years and says that while she has found the locals to be generally friendly, her community very much keeps to itself.

Over on the less postcard-worthy side of the River Witham, West Street, a long, straight road toward the railway station, is lined on both sides with Eastern European stores, in an area which once hosted more empty units than occupied ones.

Romas Latvenas, a grocery and protein supplement store owner who moved to Boston from Lithuania in 2004, says despite the relative prosperity they have enjoyed in Boston, Brexit is forcing EU migrants to consider relocating, while already driving up food prices for businesses.

Eastern European shops on West Street, Boston, England, Nov. 8, 2019.

Elliot Smith

"Our businesses are already being affected, and it is not just European shops, but everything. People who are working in the factories, the Lithuanians, Polish, Latvians, everyone is going home, or they are going to Germany, Holland or Belgium," he says.

"The currency going down means that people can just move to mainland Europe and it is the same, and now look around — the shop is empty, the streets are empty."

Romas also says his own family is considering moving, despite having lived in Boston for over a decade.

"With fewer people, fewer workers, the local economy is going off a cliff. Fifteen years ago, these shops were empty — there was maybe one European shop and that was it, the windows and houses and estate agents were boarded up," he says.

"We all come here to work, we pay our taxes, and I don't know what the English people think will happen. The big people in London do not care about this place, they do not care about us — it is very bad for us now."

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2019-11-28 08:27:00Z
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Rabu, 27 November 2019

UK would be 'outgunned' in Russia conflict - think-tank - BBC News

British ground forces would be "comprehensively outgunned" in a conflict with Russia in Eastern Europe, according to a defence think-tank.

Research by the Royal United Services Institute (Rusi) found that the Army, as well as Nato allies, has a "critical shortage" of artillery and ammunition.

It concluded that it could not maintain a credible defence position.

The Ministry of Defence (MoD) said the UK works closely with Nato and is "well equipped to take on a leading role".

The research comes ahead of a meeting of Nato leaders in London next week to mark the 70th anniversary of the alliance.

The UK, along with other Nato members, has positioned military forces in Eastern Europe to deter any potential Russian aggression in the wake of Moscow's annexation of Crimea in 2014.

Around 800 British troops are currently stationed in Estonia. The first were sent in 2017.

But the study by Rusi found that the UK armed forces lack critical firepower compared to Russia's military.

It analysed military capabilities in the "unlikely" context of "a high-intensity conflict between Nato and Russia, in which the UK has promised to deliver a warfighting division".

"At present, there is a risk that the UK - unable to credibly fight - can be dominated lower down the escalation ladder by powers threatening escalation," the report said.

It said Britain is "comprehensively outgunned and outranged", leaving enemy artillery free to defeat UK units.

Russian artillery and rocket batteries have already proved to be potent, destroying two Ukrainian battalions in 2014 within minutes.

UK and other Nato forces not only have a limited number of artillery pieces, but also a shortage of munitions stockpiles and transportation.

The report said the "rejuvenation and modernisation" of Britain's ground-based artillery is an "urgent and critical priority".

In response, the MoD said: "The UK does not stand alone but alongside its Nato Allies, who work closely together across air, sea, land, nuclear and cyber to deter threats and respond to crises."

It added: "As the largest Nato defence spender in Europe, the UK's armed forces are well equipped to take a leading role in countering threats and ensuring the safety and security of British people at home and abroad."

The statement comes less than three weeks after French President Emmanuel Macron described Nato as "brain dead" - stressing what he sees as waning commitment to the transatlantic alliance by its main guarantor, the US.

MoD figures released in August found that the size of Britain's armed forces had fallen for a ninth consecutive year.

The finding came just six months after the Commons spending watchdog, the Public Accounts Committee, claimed the MoD had a funding black hole of at least £7bn in its 10-year plan to equip the UK's armed forces.

Number of full-time trained personnel

A delegation of Russian military personnel visited Scotland last year to observe one of Europe's largest Nato exercises.

The visit was in line with the UK's obligations to the Vienna Document which aims to promote mutual trust and transparency among states signed to it.

It came as UN Secretary General Antonio Guterres claimed the Cold War was "back with a vengeance" as he warned abut the dangers of escalating tensions over Syria.

On Sunday, Boris Johnson promised he would not cut the armed forces "in any form" after it was pointed out the Conservative Party's manifesto for next month's election did not commit to maintaining troop levels.

The Conservatives, Labour, and the Lib Dems have all committed to meeting Nato's target of spending 2% of GDP on defence. The SNP said it would "press for investment in conventional defence".

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2019-11-27 12:23:31Z
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Sixteen of the 39 migrants found dead in UK truck repatriated to Vietnam amid human trafficking investigation - Fox News

The bodies of sixteen of the 39 migrants found dead in the back of a refrigerated truck in the United Kingdom last month were repatriated to Vietnam early Wednesday and returned to next of kin, according to reports.

This comes as officials in the UK and Vietnam continue to investigate an international human trafficking ring after eight women and 31 males, including two boys both aged 15, were found dead in the back of a truck in Essex on Oct. 23. All 39 were later identified as Vietnam nationals.

The remains of sixteen of the migrants arrived in Hanoi's Noi Bai Airport early Wednesday and were transported by ambulances to their family’s homes in the Nghe An, Ha Tinh and Quang Binh provinces, according to Sky News.

“After waiting for so many days, my son has finally arrived,” Nguyen Dinh Gia, father of victim Nguyen Dinh Luong, told Reuters in a phone interview from his home in Can Loc, Ha Tinh province. “We are deeply saddened, but we have to hold back the emotion to organize the funeral for my son.”

TRUCK DRIVER PLEADS GUILTY TO IMMIGRATION CHARGE IN CASE OF UK SMUGGLING DEATHS

UK and Vietnamese officially are working to repatriate the remaining victims in the near future.

"This is a very difficult time," British ambassador to Vietnam, Gareth Ward, said in a video statement released on Wednesday. "I promise the families and the Vietnamese people as a whole that we will continue to boost the cooperation between the UK and Vietnam to prevent human trafficking and protect vulnerable people here."

Each body will cost about $2,856 to repatriate, according to the vice minister of foreign affairs. The Vietnamese government will advance the payment and the victims’ families will be required to pay back the cost of to fly the bodies in from the UK at a later date. A crowdsourcing campaign has raised more than $110,000 for the relatives of the deceased migrants, BBC reported.

The minister added in a statement that families were encouraged to have the bodies cremated “to ensure speed, low cost and sanitation safety.” Many relative instead agreed to pay to have the bodies shipped back to Vietnam for traditional burials given cremation is rare in the country’s rural areas, The Guardian reported.

On Monday, Maurice “Mo” Robinson, 25, of Craigavon in Northern Ireland, pleaded guilty to conspiring with others to assist illegal immigration. He admitted to driving the truck where the bodies were found. Robinson told the court he conspired with others from May 1, 2018, to Oct. 24, 2019 to assist unlawful immigration and acquired cash that he knew or suspected came from criminal conduct, Reuters reported.

CLICK HERE FOR THE ALL-NEW FOXBUSINESS.COM

On Sunday, the Essex police said Christopher Kennedy, 23, also of Northern Ireland, had been arrested in connection with the investigation. He was charged with conspiracy to arrange people trafficking and conspiracy to break U.K. immigration law. A third suspect was being held in Ireland. Two other suspects from Northern Ireland, brothers Ronan and Christopher Hughes, were being sought, the New York Times reported.

Police in Vietnam has arrested 10 people in connection with the deaths.

Fox News Robert Gearty contributed to this report.

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2019-11-27 11:35:58Z
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Selasa, 26 November 2019

UK banknote printer De La Rue fears for its future - BBC News

De La Rue, the company that prints the UK's banknotes, has said there is a risk that the firm will collapse if its turnaround plan fails to work.

The announcement came as it suspended its dividend and reported a loss in the first half of its financial year.

De La Rue said its warning was based on a worst-case scenario.

However, it concluded that there was "a material uncertainty that casts significant doubt on the group's ability to operate as a going concern".

UK-based De La Rue prints cash for about 140 central banks and employs more than 2,500 people globally.

All current Bank of England banknotes are printed by the firm at a site in Debden, Essex.

It is unclear what would happen if the firm got into difficulties, but it is likely that a rival would take over its Bank of England contract. Its main competitors are all based outside the UK.

The BBC understands that preparations have already been made for the launch of the new £20 note featuring artist JMW Turner, printed by De La Rue, which enters circulation on 20 February next year.

Shares in De la Rue fell 20% on Tuesday morning.

De La Rue has faced some big setbacks in the past two years, including the loss of the post-Brexit UK passport printing contract to a Franco-Dutch firm last year.

In May last year, it had to write off £18m after Venezuela's central bank failed to pay its bills.

The company is also under investigation by the Serious Fraud Office in connection with "suspected corruption" in South Sudan.

It appointed a new chief executive, Clive Vacher, in October as part of a management shake-up.

What is De la Rue?

Around 11% of the 171 billion banknotes issued globally in 2017 were printed by a handful of commercial printers. De La Rue is now the largest of these firms.

It began producing banknotes in 1860, first for Mauritius and then elsewhere. Today it produces enough notes each week that if stacked up would reach the peak of Everest twice.

Its main competitor, German company Giesecke & Devrient, produces notes for roughly 100 central banks, while the Canadian Banknote Company and US-founded Crane Currency are also major players.

'Teetering on the brink'

De La Rue reported a £12.1m pre-tax loss for the six months to 28 September, compared with a £7.1m profit in the same period last year.

In its results statement, the company said it was accelerating its restructuring plan, including a reduction in overhead costs.

It is also planning new banknote security feature products to bolster its position in the "increasingly competitive" banknote market.

"De La Rue is teetering on the brink," said Neil Wilson, chief market analyst for Markets.com.

"Bad management and decisions seems to be the main reason for the malaise."

Investors sometimes wonder whether a company's board of directors can, in the short term, have much sway over a company's trading.

The scepticism is warranted: boards normally comprise a small number of executives and a larger number of non-executive directors, who have no involvement with day-to-day operations, and there are plenty of examples of companies going off the rails without the board suspecting anything was wrong.

Today's results from De La Rue show, however, that boards are vital. The banknote and secure-printing company turned in a disastrous set of numbers - a £10m operating loss, a string of one-off charges and mounting debt - which it blamed on falling demand and too many companies chasing too few contracts.

But it also admits that a period of unprecedented turmoil at the top has not helped, with the chairman, chief executive, finance director and most of the other directors changing in short order.

"The board believes that significant changes in the board and executive teams, along with a restructuring of the business, has contributed to the poor performance of the business in the period," the results statement says.

"This has contributed to a larger variance between forecasts and performance than has been experienced historically."

Management matters, and will matter even more in the next few months. The directors warn that if the revival plan put in place by (newish) chief executive Clive Vacher does not yield results, there is a threat to the company being able to continue as a going concern.

In plain English, that means it will have to find more money, either by renegotiating the terms of its bank loans or by asking shareholders to stump up more cash.

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2019-11-26 09:05:09Z
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Senin, 25 November 2019

Kidnapped UK man and wife rescued after Philippines gun battle - BBC News

A British businessman and his Filipino wife have been rescued from their abductors in the southern Philippines, the country's army has said.

Allan and Wilma Hyrons were taken from a beach resort on Mindanao island by four armed men on 4 October.

Their kidnappers - thought to belong to the IS-loyal militant group Abu Sayaff - fled after a gun battle in the nearby Sulu region on Sunday.

UK Foreign Secretary Dominic Raab said the couple were "safe and well".

Mr Hyrons, 70, who is a dual national, has lived in Mindanao's Zamboanga del Sur region with his wife since 2013.

On the day they were captured, the couple had reportedly been celebrating Teachers' Day at a nearby college.

Witnesses reported seeing them being taken from a hut and dragged to a motorboat.

They were given medical checks after their ordeal ended with the operation by Philippine forces at approximately 17:00 GMT on Sunday.

BBC News has been told that the UK military was involved in the rescue operation.

A small team of British special forces personnel provided advice and planning support to help the search, a military source told BBC defence correspondent Jonathan Beale. The MoD has not commented.

Mr Raab thanked the Philippine authorities' "tremendous efforts".

"We are in particular grateful to their armed forces for their courage throughout a difficult operation which resulted in Alan and Wilma's release," he said.

"Foreign Office officials have been in close contact with Alan and Wilma's family throughout this ordeal. We request their privacy during this emotional time."

British Ambassador to the Philippines Daniel Pruce has spoken to the couple by telephone since their release, the Foreign Office said.

He tweeted: "Fantastic news! My sincerest thanks to all involved."

Who are the Abu Sayyaf group?

Abu Sayyaf is one of the smallest and most violent jihadist groups in the southern Philippines. Its name means "bearer of the sword" and it is notorious for kidnapping for ransom, and for attacks on civilians and the army.

The group is believed to have an estimated 400 members and, since 2014, several of its factions have declared their allegiance to the so-called Islamic State (IS).

In 2016, Isnilon Tontoni Hapilon, one of Abu Sayyaf's most prominent leaders, was recognised as the leader of all IS-aligned groups in the Philippines.

Read the full story

The UK government advises Britons against all travel to the area where Mr Hyrons was taken.

BBC Philippines correspondent Howard Johnson says the island has "several militant groups" operating on it.

In May, a 59-year-old Dutch hostage was reportedly killed by his captors on the nearby island of Jolo in May.

The Philippine army said Ewold Horn, who had been kidnapped in 2012, was shot as his captors fled a confrontation with troops.

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2019-11-25 14:17:02Z
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