Here's Why The Latest Evidence In The UK Phone Hacking Scandal Shows Murdoch Is Completely Screwed


Rupert Murdoch

Rupert Murdoch's huge hacking scandal in the UK continues to just get worse and worse — and it looks like News Corps attempts to cooperate with authorities may be too little, too late.

The Telegraph has been granted access to new documents from the UK's High Court that suggest News International (the UK wing of Murdoch's News Corp) deleted hundreds of thousands of emails on nine separate occasions.

The aim of these deletions would be “to eliminate in a consistent manner” emails that “could be unhelpful in the context of future litigation in which a News International company is a defendant”.

Here's why this is big trouble. After 2008, News International was legally obligated to keep evidence of phone hacking as civil cases were proceeding — but an email deletion policy was implemented in 2009.

Ben Fenton of the FT has tweeted that this law may be considered "Conspiracy to pervert the Course of Justice".

We had a look at the Crown Prosecution Services definition of that crime:

The offense of Perverting the Course of Justice is committed when an accused: 

  • does an act or series of acts;
  • which has or have a tendency to pervert;
  • and which is or are intended to pervert;
  • the course of public justice.

Yep, deleting loads of emails about crimes you have committed seems to fit these criteria.

So, what's the time frame?

The course of justice must be in existence at the time of the act(s).

The course of justice starts when:

  • an event has occurred, from which it can reasonably be expected that an investigation will follow; or
  • investigations which could/might bring proceedings have actually started; or
  • proceedings have started or are about to start.

Ok, so basically once the crime has occurred and legal proceedings are about to start, you shouldn't start deleting evidence of your crimes.

So far, this is sounding pretty bad.

Finally, whats the maximum sentence?

Life imprisonment and/or fine.

Uh oh.

Note: If you have a good knowledge of UK law and more ideas on what this could mean drop us an e-mail.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/IBcsS-nR8OQ/phone-hacking-emails-deleted-2012-2

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Big Banks Spend Coin Trying To Make A Mint In Forex

The banks are spending millions to efficiently integrate more information into their trading platforms so that they can benefit from the trends in stocks, bonds and commodities.

Source: http://www.forbes.com/sites/greatspeculations/2012/02/23/big-banks-spending-coin-trying-to-make-a-mint-in-forex/

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Gulf Drilling Pays Off As Anadarko Hits Pay Dirt In Heidelberg

We expect Anadarko to continue with its successful exploration program that helped the company achieve a 159% reserve replacement ratio last year.

Source: http://www.forbes.com/sites/greatspeculations/2012/02/23/gulf-drilling-pays-off-as-anadarko-hits-pay-dirt-in-heidelberg/

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Debt Relief In America ? How To Use A Legal Settlement Process to Get Out Of Debt

Debt Relief In America – How To Use A Legal Settlement Approach to Get Out Of Debt Debt relief in America has grow to be simpler than ever. All those people who were seeking debt relief in America via various liability elimination strategies are now turning towards liability settlement for help. This is simply because [...]

Source: http://www.legaldebthelponline.com/2012/02/23/debt-relief-in-america-how-to-use-a-legal-settlement-process-to-get-out-of-debt-2/

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Wells Fargo Fuels Up With BNP Paribas Energy Lending Biz

As a part of the all-cash deal struck with BNP Paribas, Wells Fargo also secured loan commitments worth $9.5 billion besides the $3.9 billion in outstanding loans.

Source: http://www.forbes.com/sites/greatspeculations/2012/02/22/wells-fargo-fuels-up-with-bnp-paribas-energy-lending-biz/

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The Simplest Way Company Debt Consolidation Reduction Will Help

You’ll find cases whereby motivate ceredat crd a lot of dough but try not to already have it. Within these cases everyone head for getting mortgages with a economical corporation that any of us be forced lower back quickly specified moment. But yet many times we are really not capable of paying rid of it [...]

Source: http://www.legaldebthelponline.com/2012/02/22/the-simplest-way-company-debt-consolidation-reduction-will-help/

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Here Are The Key Market Moving Events For Thursday, February 23, 2012


Gap Denim

Thursday continues a busy week, with more than two dozen major earnings announcements. At the same time, a series of economic releases will keep markets moving, including initial claims in the U.S.

Here's what you need to know.

  • Australia starts the day off early with worker wages at 7:30 p.m. EST on Wednesday evening. Economists predict average weekly wages will increase by 1.0 percent in the November quarter.
  • At 12:00 a.m. EST on Thursday morning, Singapore consumer prices are seen advancing 0.8 percent.
  • Taiwan industrial production will be announced at 3:00 a.m. EST, with expectations for the key metric to fall 15.3 percent year-on-year.
  • Fifteen minutes later, Swedish consumer confidence is set for release. Economists polled by Bloomberg forecast a reading of 0, which indicates neither pessimism or optimism.
  • At 3:30 a.m. EST, Hong Kong will announce January exports and imports.  Exports are seen declining 7.0 percent year-on-year in January, while imports fall 4.5 percent. 
  • Attention shifts back to Europe at 4:00 a.m. EST, when the Ifo Institute announces a reading on the German business climate. The index is seen expanding slightly to 108.8, with the expectation sub-index gaining 110 basis points to 102. 
  • At the same time, Italian consumer confidence will be announced, with economists predicting a February reading of 92. That's up from the 91.6 reading in January.
  • Poland's unemployment rate also follows at 4:00 a.m. EST, with estimates for it to jump to 13.3 percent in January, from 12.5 percent in December. 
  • At 6:00 a.m. EST, the Confederation of British Industry will announce trend orders, which measures expectations of manufacturers in the U.K. The forecast is for an improvement to -13 from -16 for February. A reading below zero indicates expectations for declining orders. Also at 6:00 a.m. EST, Ireland will release consumer prices. 
  • At 8:30 a.m. EST, initial jobless claims will be announced in the U.S., with consensus for 355,000 new claims, up from 348,000 last week. Continuing claims are anticipated to come in at 3.455 million.
  • U.S. home prices will be released at 10:00 a.m. EST. Economists polled by Bloomberg forecast the index to advance 0.1 percent month-on-month in December.
  • The Kansas City Federal Reserve will announce activity in its region at 11:00 a.m. EST, with expectations for the index to improve to 9 in February, from 7 a month earlier.
  • Closing out the day at 4:00 p.m. EST is the release of Colombian industrial production. December production is seen increasing 5.6 percent year-on-year.

Below, a roundup of tomorrow's big announcers. 

InterDigital (IDCC): $0.46
Omnicare (OCR): $0.57
Target (TGT): $1.39
Plains Exploration & Production (PXP): $0.37
Kohl's (KSS): $1.80
American Tower (AMT): $0.72
Gap (GPS): $0.40
Crocs (CROX): $0.04
Salesforce.com (CRM): $0.40
Monster Beverage (MNST): $0.37
American International Group (AIG): $0.56
Molycorp (MCP): $0.40
Omnivision Technologies (OVTI): $0.13
TiVo (TIVO): -$0.13
Autodesk (ADSK): $0.45
Denbury Resources (DNR): $0.33
Liberty Media Corp - Liberty Capital (LMCA): $0.33
DISH Network (DISH): $0.61
Sears Holdings (SHLD): 0.69
MetroPCS Communications  (PCS): $0.16
Liberty Interactive (LINTA): $0.37
Deckers Outdoor (DECK): $3.13
KBR (KBR): $0.64
Safeway (SWY): $0.64

Consensus estimates provided by Bloomberg. 

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Source: http://feedproxy.google.com/~r/businessinsider/~3/ssC0d5l1xow/key-market-moving-02-23-2012-2

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Someday, Your Reputation May Be More Important Than Your Net Worth


Betterworks Paige Craig

A new social class is emerging on the Internet and your place in it depends on your reputation. 

In this world, you might be nothing, "but online you might be king," explained Betterworks co-founder Paige Craig, an angel investor in more than 50 companies.

Craig said he invested in online reputation tracking company Klout after seeing a tweet from Joe Fernandez about Klout in 2009.

"In a world where people are working across borders, across time, across companies, and across ethnic groups, there isn't enough time to get to know each other. You need something like Klout to establish the strength of that relationship. It enables social collaboration and social commerce at scale that we've never seen before," he added. 

In fact, Craig thinks Klout can be more important than money in the future. He grew up poor and doesn't think people's worth should depend on how wealthy they are.

"Reputation becomes more important than your bank account. Your credit score goes back to how you pay off bills. It's a great metric that unifies the world. But once we get to a point where we have a constant currency around reputation," he said, a lot more can be accomplished.

"There are books that envision a future where cash disappears and how you treat people matters more than cash," Craig said.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/hRZ2VJb3o8Q/someday-your-reputation-may-be-more-important-than-your-net-worth-2012-2

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