The third in line to the throne has been caught with his pants down playing mixed billiards in Las Vegas. Film director Tony Scott of Top Gun fame has also died.
The UK Standard Chartered Bank has paid a fine of $340 (£200m) to one US regulator for a persistent period of undisclosed trading which has been linked to businesses in Iran. That country is subject to some controversial economic and business sanctions from the international community led by the United States.
The complicated business situation for ‘universal global banks’ is also complicated by the convention to have most financial transactions denominated in US dollars and so, subject to US law and financial licensing. Difficult territory in a country where Iran is persistently a hot topic for discussion.
The story touches once more upon the problems of global business and national jurisdictions and the conflict between them. These issues have been much in evidence since the start of the global recession, the revelations about the insolvency of the finance houses and afterwards, of their associated governments.
The latest and most serious example of this surrounds the admissions around misdeclaration of Libor (the London InterBank Offered Rate) which governs the terms on which banks make daily loans to one another. Barclays has already admitted doing this but others are involved. As regulators in the US and elsewhere turn their minds to this you’ll see the legal consequences of this are story are huge and truly global.
© Matthew Buck Hack Cartoons
The London 2012 Olympics are coming towards their close after providing their usual array of marvellous moments. Few however are truly memorable but, the story of Peter Norman, Tommie Smith and John Carlos is.
It featured briefly in a segment from the BBC coverage of the games just before the final of the men’s 200 metres featuring Usain Bolt. The recording at that link is amateur footage where the television has been filmed.
© Matthew Buck Hack Cartoons
Great success for British athletes at The London 2012 Olympic Games. This drawing on a speedy deadline after one Saturday in which twelve Brits alone topped the podium.
Congratulations to Greg Rutherford (long jump), Mo Farah (10,000 metres), Jessica Ennis (heptathlon), Dani King, Jo Rowsell, and Laura Trott (Women’s team pursuit). Sophie Hosking and Katherine Copeland (women’s lightweight double sculls) Pete Reed, Andy Gregory and Tom James, and Andy Triggs-Hodge (men’s four).
© Michael Cross and Matthew Buck Hack Cartoons
The Opinions of Tobias Grubbe for 23rd July 1712 are published at this window – or click the picture. His patron Journalisted from the Media Standards Trust where you may read all about them.
Leaks implying that the Government may abandon its commitment to reform of the House of Lords signal real trouble for the Coalition between the Conservatives and the Liberal Democrats.
The video above imagines how the strange relationship all got started.
Updated Monday 6th August: News of an Autumn by-election following the resignation of Louise Mensch, Conservative MP for Corby and East Northamptonshire, adds spice to the tension inside the government coalition. The constituency is a marginal and, overheated speculation about the leadership ambitions of London Mayor Boris Johnson aside, promises to make an uncomfortable close to the year for David Cameron and Nick Clegg.
Boris Johnson is only going to stand as an MP in a constituency the Tories can win. Hence no interest in Corby.
@msnnews_ian
Ian Jones
Updated Monday 6th August 2.30pm: The Deputy Prime Minister’s statement upon the withdrawal of the government commitment to reform of the House of Lords. This policy was one of the building blocks for the formation of the coalition government back in May 2010. Prime Minister and Leader of the conservative Party David Cameron is clearly unable to deliver his MPs to support the bill. This is a significant admission of weakness for any leader.
It is notable Clegg’s statement includes an explicit commitment from the Lib Dems to veto any move to constituency boundary redrawing which is something the Conservatives have long wanted and need if they wish to secure future majorities in the House of Commons.
© Matthew Buck Hack Cartoons
Britain’s largest football club is up for sale again. The club’s owners, The Glazer family, are attempting to encourage investors from the New York stock exchange to take a piece of the club. Interestingly, the advertising for the IPO (Initial Public Offering) describes the club as a global media company with access to the most popular game on earth. Much of this global commercial success is due to Sir Alex Ferguson, the irascible and wise old manager of the club.
The Glazers have, entirely legally, extracted a great deal of wealth from the club since acquiring it in 2005.
© Michael Cross and Matthew Buck Hack Cartoons
The Opinions of Tobias Grubbe for July 9th 1712 is published at this window – or click the picture. His patron Journalisted from the Media Standards Trust where you can read all about them.
© Matthew Buck Hack Cartoons
Some pieces of public performance are irresistible for cartoonists and the procession of the Olympic Torch throughout Britain is certainly one of them. Perhaps if you look closely you’ll be able to identify the characters.
Somebody else invariably actually carries the torch for the Prime Minister.
© Michael Cross and Matthew Buck Hack Cartoons
The Opinions of Tobias Grubbe for 2nd July 1712 are published at this window, or click the picture. His patron Journalisted from The Media Standards Trust where you may read all about them.
