Boston marathon 'bomber' captured
By Anonymous on Apr 20, 2013 03:40 am 19 April 2013 Last updated at 19:44 ET 
Gunfire has been heard as police hunting a teenage suspect in the Boston Marathon bomb attacks converged on an address in a suburb, local media say.
Law enforcement reportedly swamped Watertown, near Boston, as the search intensified for Dzhokhar Tsarnaev, 19.
He had escaped on foot early on Friday after a police shootout that claimed the life of his elder brother, 26-year-old Tamerlan Tsarnaev.
Three people died and more than 170 were hurt in Monday's bombings.
Boston Mayor Tom Menino was quoted by a local CBS station as saying the suspect was surrounded by police.
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UK in legal challenge to FTT tax
By Anonymous on Apr 19, 2013 08:10 pm 19 April 2013 Last updated at 17:34 ET 
Only 11 out of the 27 EU states have signed up to the new tax
The UK government has launched a legal challenge against plans for a European financial transactions tax (FTT).
The FTT, which aims to raise public funds and encourage more responsible trading by financial institutions, will be adopted by 11 EU states.
Although the UK was not one of those, it wants to block the tax entirely.
It fears the FTT will probably be levied on deals carried out in the City of London, if there is an institution from one of the 11 countries involved.
By increasing the costs of those deals, there could be big falls in the value of business carried out in the City, running to many billions of pounds, BBC business editor Robert Peston said.
The EU said it was confident the FTT was "legally sound".
'Tax on pensioners' UK Chancellor George Osborne said an application had been lodged at the European Court of Justice on Thursday.
"We think that the financial transaction tax which the European Commission has put forward is not right for Britain," he told the BBC.
"Britain doesn't want to take part but it also doesn't want to be caught in the effects of this tax being introduced by other countries. Let's be clear - financial transaction tax is not a tax on banks or bankers, it's a tax on pensioners and people with savings and investments.
"So we want to make sure that yes ok, fine, if some European countries want to introduce those kind of taxes they can do so but they should not do so in a way that impacts Britain."
A European Commission spokesman said: "We remain confident that the decision to approve enhanced cooperation on the FTT, which was voted by EU member states on January 22 is legally sound.
"It is fully in line with international law and the principles of the single market. Transactions will only be taxed if there is an established economic link to the FTT-zone, in a way that is fully compatible with the principles of cross-border taxation."
The 11 countries going ahead with the FTT are Germany, France, Italy, Spain, Belgium, Austria, Portugal, Greece, Slovenia, Slovakia and Estonia.
The BBC's Robert Peston said the British government feels that the 11 are interfering in an illegal way with the UK's sovereignty, and while it may have a point, there will be great displeasure at the UK's blocking tactics among the 11, especially in Paris.
The perception will be reinforced of the UK moving further and further away from the EU's core, our correspondent said.
Read in browser » Dozens die in rural China earthquake
By Anonymous on Apr 20, 2013 03:32 am 20 April 2013 Last updated at 00:24 ET 
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BBC's Martin Patience, in Beijing, said local media reported 2,000 soldiers had been despatched to help the rescue effort
A powerful earthquake has killed at least 46 people and injured at least 400 in China's south-western province of Sichuan, state TV reports.
The US Geological Survey (USGS) said the quake, which had a 6.6 magnitude, was centred 50km (31 miles) west of the town of Linqiong.
It said the tremor occurred at a depth of 12km (7.4 miles). There are fears the death toll could rise further.
An 8.0 magnitude quake in Sichuan in May 2008 killed nearly 90,000 people.
The latest quake - initially reported as a 7.0 magnitude, and then at 6.9 - struck at 08:02 local time (00:02 GMT), the USGS said.
It was felt 115km (71 miles) away in the provincial capital, Chengdu, according to China's state news agency Xinhua.
People ran into the streets wrapped in blankets, according to photos posted online. Other pictures showed buildings that had collapsed.
A resident in Chengdu told Xinhua he had been on the 13th floor of a building when he felt the quake. The building shook for about 20 seconds and he saw tiles fall from nearby buildings.
Electrical and water supplies have reportedly been cut to the affected area, the BBC's Martin Patience reports from Beijing.
Telephone lines are also believed to be down.
Xinhua said 2,000 soldiers had been despatched to the area to help with rescue efforts.
The city of Ya'an, close to the epicentre, has a population of 1.5 million.
The USGS noted that "significant" casualties were likely and that "extensive damage is probable and disaster is likely widespread".
"Past events with this alert level have required a national or international level response," it added.
The 2008 disaster in Sichuan left five million people homeless.
Read in browser » Musharraf faces terrorism court
By Anonymous on Apr 20, 2013 02:26 am 20 April 2013 Last updated at 02:26 ET 
Pervez Musharraf faces several criminal allegations
Pakistan's former leader Pervez Musharraf has appeared at an anti-terrorism court over claims he illegally detained judges in 2007.
Mr Musharraf, who ruled Pakistan between 1999 and 2007, was arrested on Friday.
The High Court ruled that the allegations amounted to an act of terrorism and ordered him to appear at Islamabad's anti-terror court.
Mr Musharraf has described the case against him as politically motivated.
Last month Mr Musharraf returned from years of self-imposed exile hoping to lead his All Pakistan Muslim League (APML) party into the general election next month.
However, he has failed in his bid to register as a candidate with election officials.
The case for which he has been arrested relates to his controversial decision to dismiss judges including Chief Justice Mohammad Iftikhar Chaudhry when he imposed emergency rule in 2007.
The BBC's Shahzeb Jillani, outside the Islamabad court, says pro and anti-Musharraf lawyers have gathered to shout slogans at each other.
Mr Musharraf faces several other criminal cases and had been trying to stave off arrest since he returned.
The Pakistani Taliban have also vowed to assassinate the former president, who seized power in a 1999 coup.
Read in browser » Osborne warned on mortgage scheme
By Anonymous on Apr 19, 2013 07:35 pm 19 April 2013 Last updated at 19:35 ET 
Mr Osborne has said it is a large but necessary intervention in the market
George Osborne's flagship scheme to boost the housing market may not help first-time buyers and could cost the Treasury large sums, MPs have warned.
The government will guarantee mortgages for three years from January where applicants can put down a 5% deposit.
The Treasury Committee warned the chancellor's plan made the government an "active player" in the market with a financial stake in propping up prices.
Labour say the plan amounts to a "spare home subsidy" to existing home owners.
Ministers aim to extend the current Help to Buy scheme to make it easier for first-time buyers or those looking to trade up to get access to home loans if they do not possess substantial equity of their own.
'Curtailing risk' Mr Osborne has said the housing market is still not functioning properly after the 2008 financial crisis, with the number of purchases by first-time buyers down 40% in the past five years.
He has claimed the plan, now the subject of consultation, could unlock £130m of mortgage finance.
Continue reading the main story WHAT THE SCHEME OFFERS
- Starts in 2014
- Run for 3 years
- Homes up to £600,000
- Covers new or old houses
- Government guarantees 15% of value of mortgage
The idea is that loans from High Street lenders for house purchases of up to £600,000 would be underwritten by the government.
If a borrower defaults on a mortgage, he or she would stand to lose their 5% deposit. Thereafter the government would have to pay just under 15% of the outstanding amount, while the lender would be liable for just over 80%.
House builders and lenders have welcomed the initiative but Labour have warned of confusion about whether it could be used to buy second homes.
But, in an analysis of the main measures in March's Budget, the cross-party Treasury Committee identifies what it says are a number of potential problems.
The committee says it is not clear what fee lenders will have to pay to take part in the scheme or how it will be structured to cover potential losses.
The MPs also warn that the Treasury will find it difficult to price the scheme in a way which "sharply curtails risk" to the taxpayer.
The Treasury could potentially face big losses on loans it has guaranteed if lenders start to act more aggressively and the number of repossessions rise.
'Damning' The committee says it is "by no means clear" that the scheme will benefit first-time buyers.
And the chancellor's claims that boosting demand will, in time, serve to increase the supply of property were "unconvincing" in the short term.
The committee also expresses concern that the scheme could become a "permanent feature" of the housing market and insists any decision about its future should be taken by politicians rather than the Bank of England.
And it says there is a "lack of clarity" about whether people who already own a home would be excluded, arguing that it "struggles to see the rationale" of existing homeowners of any kind being able to benefit from it.
"The government's Help to Buy scheme is very much a work in progress," said the committee's chairman, Tory MP Andrew Tyrie.
"It may have a number of unintended consequences. The questions the committee has asked the government need answering."
Budget leaks Labour said the "damning" report was "another damaging blow" to George Osborne.
"We will only tackle the housing crisis and help first time buyers if we have a major programme of affordable house building, which Labour called for as part of our jobs and growth plan but the Budget totally failed to deliver," said shadow Treasury minister Cathy Jamieson.
"And it's astonishing that one month since the Budget, George Osborne has still failed to rule out people being able to buy second homes with a taxpayer guarantee.
"First time buyers and people struggling to get a mortgage should be the priority for help, not a spare home subsidy for the small number who can afford to buy a second one."
The Treasury says this is not the point of the scheme but parents may be allowed to buy homes for their children when it is finalised.
In its report, the committee also urged the Treasury to take further action to prevent Budget leaks.
It has called for an end to the practice of officials pre-briefing sections of the media about what is in the Budget on the understanding that it is not published until the statement has been delivered.
This comes after Evening Standard accidentally published details of the key points of the Budget on Twitter before Mr Osborne had addressed Parliament.
Read in browser » Pickles amends home extension plans
By Anonymous on Apr 19, 2013 05:50 pm 19 April 2013 Last updated at 15:14 ET 
Homeowners wishing to build extensions would notify their council who would then inform neighbours
Government plans to ease planning rules in England for three years have been amended to give neighbours the right to be consulted on building work.
It comes after 26 coalition MPs - 16 Conservatives and 10 Lib Dems - voted against the government on Tuesday.
Communities Secretary Eric Pickles has written to MPs setting out a "light-touch neighbours' consultation scheme".
He said he wished to tackle "head on" concerns about the effects the plans would have on "neighbours' amenity".
The amendment will be debated in the House of Lords when the Growth and Infrastructure Bill returns there on Monday.
Boost trade Ministers announced last year that they wanted a three-year relaxation of the planning rules to allow single-storey extensions of up to eight metres for detached houses and six metres for other houses to be built without planning consent being required.
They argue that this will bring economic benefits and boost the building trade.
The proposal, which is still under consultation, has angered some local authorities and is also opposed by Labour.
MPs are concerned the plans may result in permanent unsightly developments, over which local communities will have no say.
Under the revised scheme, as set out by Mr Pickles, homeowners wishing to build extensions under the new powers would notify their council with the details and the local authority would then inform the adjoining neighbours.
If the neighbours do not object the development can proceed, but if they do raise concerns the council will have to consider whether it had an "unacceptable impact on neighbours' amenity".
If councillors decided it was necessary the proposed extension could be considered by a planning committee.
Mr Pickles said the approach would build consensus, ensure uncontroversial projects were fast-tracked and save householders money.
He told MPs: "I hope this shows that we have listened constructively and made a targeted and common sense improvement."
Mike Jones, chairman of the Local Government Association's Environment and Housing Board, said they were pleased the government was "listening".
"However, there are serious questions to be answered as to how this new separate scheme will work in practice," he said.
"Government needs to clarify how this new scheme, which will require planning department to dedicate a significant amount of time and resources, will be paid for at a time when local authorities are already facing significant cuts to their budgets."
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