| Ed Miliband risks reigniting Labour Party feuds Ed Miliband has risked reigniting Labour Party feuds by snubbing potential rivals and unveiling a shadow cabinet full of surprise appointments. telegraph.co.uk |
Liverpool FC is sold to Boston Red Sox owner • John W Henry confirms deal and says: 'We're here to win'• Hicks blames defeat on 'conspiracy of British establishment'• Liverpool takeover – relive the live blog coverageNew England Sports Ventures have completed their £300m takeover of Liverpool. The owners of the Boston Red Sox have taken control of the club after Tom Hicks and George Gillett were defeated in their legal battle to stop the takeover.John W Henry, the principal owner of NESV, appeared with the club's chairman, Martin Broughton, in the foyer of their lawyers, Slaughter & May, this afternoon. "I am proud and humbled," Henry said. "We have a lot of work to do, and I can't tell you how happy I am that [the deal] has been completed. We're here to win. We have a tradition of winning. We'll do whatever we need to do."Henry said that he would not, as had been rumoured, be at Sunday's Merseyside derby at Goodison Park. "I think it's better for our first experience with the supporters to be at home," he said.Broughton, who confirmed that he would stay at the club on at least a temporary basis while Henry decides on his desired structure, said: "As any Liverpool fan knows, the worst way to win a match is in a penalty shoot-out. But the important thing is that we won. We've been confident that we'd get there. We always knew that we were doing the right thing and would get justice."The purchase of Liverpool brings an end to Hicks and Gillett's three-and-a-half years at the club, but almost certainly not an end to the saga. Hicks and Gillett have promised to sue for £1bn in damages, claiming the sale to NESV was "illegal".A statement from Hicks' and Gillett's New York representatives announced they were suing over "an extraordinary swindle" but appeared to accept that they will have to relinquish ownership of the club.Steve Stodghill, the Texas lawyer representing the duo, said: "This outcome not only devalues the club but it also will result in long-term uncertainty for the fans, players and everyone who loves this sport because all legal recourses will be pursued. Mr Hicks and Mr Gillett pledged to pay the debt to RBS so that the club could avoid administration that was threatened by RBS. That offer was rejected."It is a tragic development that others will claim as a victory. This means it won't be resolved the way it should be resolved."Hicks told the Associated Press that his attempts to block the club's sale, which he believes undervalues the club, were blocked by "the British establishment" in collusion with members of Liverpool's board. "This was a conspiracy of the British establishment and our own [club] employees," he said.LiverpoolJohn W Henryguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds guardian.co.uk |
Jobs axed at fire engine factory Job losses at the UK's biggest fire engine manufacturer are being blamed on cuts in public sector budgets. bbc.co.uk |
Philip Green to be target of corporate tax avoidance protest • UK Uncut challenge billionaire Cameron efficiency adviser • 'Tax avoidance' protest focuses on Green's Arcadia's storesSir Philip Green, the retail billionaire and efficiency adviser to the government, is to become the target of a nationwide campaign by protesters opposed to government cuts and alleged tax avoidance.High street stores belonging to the businessman's group, including Topshop, Dorothy Perkins and Miss Selfridge, will be among those that protesters focus on in the run-up to Christmas.Plans to disrupt Arcadia Group stores were devised by UK Uncut, a fast-expanding group of activists who have closed down more than 30 Vodafone shops in the past six weeks by mobilising through social networks.UK Uncut's Twitter hashtag, #ukuncut, has become the rallying point for opponents of the government's austerity cuts. It was used widely by protesters who this month clashed with police during two large demonstrations against the proposed increase in student tuition fees.The group started up when activists decided to target Vodafone on 27 October, claiming that the company had avoided £6bn in tax, an allegation denied by Vodafone. The protest, organised through Twitter, went viral and over some weeks more stores closed.About 20 UK Uncut activists met several times before deciding to make Green a target. They plan to call on activists to approach shops in the Arcadia Group, as well as Vodafone, from Saturday. They intend to start by congregating at Green's flagship store, Topshop, in London's Oxford Circus. In a sign of UK Uncut's expanding popularity, they have secured the backing of the Jubilee Debt Campaign, and of War on Want, two mainstream anti-poverty campaigns with almost 30,000 supporters between them.Activists hope a campaign against Green's retail empire will drive a wedge between David Cameron, who selected him to review efficiency in Whitehall, and the prime minister's Lib Dem partners, who are calling for action against tax avoiders.Green's document, published in October, reported "shocking" wastage in the government's procurement strategy. However, his suitability as a government adviser was questioned because of his alleged tax avoidance. The businessman banked the biggest pay cheque in corporate history in 2005 when his Arcadia fashion business, which owns Topshop, paid a £1.2bn dividend. The record-breaking payment went to his wife, Tina, who lives in Monaco and is the direct owner of Arcadia. Because of this arrangement no UK income tax was due on the gain.Richard Murphy, director of Tax Research UK, estimated Green saved £285m by paying the dividend to his wife.Arcadia's holding company is Taveta Investments, which paid £71m in tax in the last financial year. Beyond Taveta, based behind Oxford Street, London, the ownership trail goes offshore via a Jersey-based investment vehicle called Taveta Ltd.Arcadia has declined to comment about the planned protests or alleged tax avoidance. Green previously said the tax issue was not "relevant" to a discussion about his suitability to lead a government spending review. "I contribute tens of millions of pounds [to the exchequer]. I employ 45,000 people and pay tens and tens of millions of pounds of tax," he said.Tax avoidance has been estimated by the TUC to have lost exchequer about £25bn in revenue, including £13bn attributed to individuals."Philip Green is a tax avoider, and yet is regarded by David Cameron as an appropriate man to advise the government on austerity," said UK Uncut's spokesman, 26-year-old Daniel Garvin. "His missing millions need to be reclaimed and invested into public services not into his wife's bank account."ProtestSir Philip GreenTax avoidanceCorporate governanceCuts and closuresRetail industrySpending review 2010Tax and spendingMatthew TaylorPaul LewisAdam Gabbattguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds guardian.co.uk |
US pension funds sue BP directors over the falling share price Fifteen directors of BP, including Tony Hayward, the chief executive, and Carl-Henric Svanberg, the chairman, are being sued personally by two US pension funds for their role in the Deepwater Horizon oil disaster. timesonline.co.uk |