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[JohnCenaFan28]

A 17-year-old youth has been jailed for stabbing three boys over a mobile phone, leaving a knife embedded deep in the skull of one.

Yassin Elmansouri drove the weapon in so hard that that its handle came away as he tried to pull it out, leaving the boy with injuries he must bear for the rest of his life.

The teenager is beginning an indeterminate life sentence for the attempted murder of his victim, known only as Ahmed.

The attack took place in the Old Kent Road on the afternoon of November 28 last year, Inner London Crown Court in Southwark heard. When Elmansouri and two others tried to rob a boy outside Tesco, the boy's friends stepped in and were subjected to the frenzied attack.

Emergency services arriving at the scene found the knife still embedded in Ahmed's head and rushed the injured youths to London hospitals. There, surgeons were able to save Ahmed's life. Of his two friends, one suffered a chest injury but was later discharged, while the other suffered minor injuries to his shoulder and left the following day.

Meanwhile, Elmansouri had been spotted running away from the crime scene and also left his hat and his mobile phone behind. Police recovered the items and sent them to the Forensic Science Service, which identified the defendant in just a few days, leading to his arrest at home on December 1.

Following an investigation by Southwark CID, Elmansouri's trial began on September 23 and he was found guilty two days later.

On Thursday he learned he must serve seven years of his indeterminate life sentence before he can be considered for parole. A further seven years for each of two counts of grievous bodily harm will run concurrently.

Following the sentence, his victim Ahmed spoke of the devastation the violence wreaked. "The attack has made me more paranoid, and more wary about being in a similar situation again," he said.

"The injury has slowed me down in terms of my reactions when I am asked to perform sudden movements. I am not able to play sport, or run around as I could before. This has added to my frustration as I knew before the attack how able and sporty I was. I will no doubt have to live with this for the rest of my life."

-Nova

[JohnCenaFan28]

The head of a government agency in charge of vetting bouncers, car clampers and security staff will leave his post, after it emerged it employed dozens of staff without vetting them.

Some 38 temporary staff were cleared to work for the Security Industry Authority before they were given the proper clearance, ministers admitted. They ordered a review of decisions made by the temporary staff, amid fears convicted criminals could have been given permission to work illegally.

The board of the SIA announced chief executive Mike Wilson, who has been in post for only 14 months, would leave next week. In a statement, the chairman of the board, Ruth Henig, said the decision was made by "mutual consent".

The agency was criticised last month after it emerged around 30,000 people working in the industry were doing so without a licence. Auditors also found it overspent by £17 million last year.

The agency was previously attacked after it approved more than 5,000 illegal immigrants to work in Britain. Some illegal workers got jobs in Whitehall, including one employed to guard the Prime Minister's car.

Junior Home Office minister Alan Campbell said not all the decisions made by staff who had not been vetted would be reviewed. Instead a "targeted sample" of licence approvals would be examined.

In a statement to MPs, he said: "We have become aware of some failings in the SIA's compliance with Home Office requirements for security clearance for SIA employees.

"Home Office guidance issued to the SIA stipulates that no person should be employed in a permanent or temporary capacity, without appropriate confirmed security clearance.

"All permanent SIA staff have confirmed security clearance. It became clear, however, that some agency workers had not received appropriate security clearance before commencing employment with the SIA."

Mr Campbell said the 38 agency staff were "removed from SIA premises and had all access to SIA systems withdrawn" while security checks were carried out. As of Thursday, six staff had still not been approved to work.

-Nova

[JohnCenaFan28]

America is "facing the greatest economic challenge of our lifetime and we must act swiftly to solve it", president-elect Barack Obama said.

Flanked by 17 members of his transition economic advisory board, Mr Obama said the US had lost 1.2 million jobs so far this year and he would confront the crisis "head on" immediately after becoming president on January 20 next year.

It was his first public appearance since he became America's first black president-elect by beating Republican rival John McCain in Tuesday's election.

"I do not underestimate the enormity of the task that lies ahead," Mr Obama said.

"We have taken some major action to date and we will need further action during this transition and subsequent months. Some of the choices that we make will be difficult. It is not going to be quick, it is not going to be easy for us to dig ourselves out of the hole that we are in.

"But America is a strong and resilient country and I know we will succeed if we put aside partisanship and politics and work together as one nation. That's what I intend to do."

He said the US needed a rescue plan for the middle class, further extension of unemployment benefits and must work on policy options to help the struggling auto industries adjust to the economic crisis. And he added that the US could not afford to wait to act on his administration's key priorities such as healthcare and energy policy.

He said the financial crisis was "spilling out" into other areas of the country's economy. "We are going to need to see a stimulus package passed either before or after inauguration," he said, adding that it was needed "sooner rather than later".

"A new president can do an enormous amount, to restore confidence, to move an agenda forward, that speaks to the needs of the economy and the needs of middle-class families all across the country.

"I'm confident that a new president can have an enormous impact, that's why I ran for president."

-Nova

[JohnCenaFan28]

The UK's largest mortgage lenders have vowed to pass on the interest rate cut in full following pressure from Chancellor Alistair Darling.

A flurry of banks and building societies said they were to drop rates by 1.5% after the Bank of England slashed the base rate on Thursday.

The move by lenders came after banking chiefs were hauled in front of the Chancellor and told they must pass on the cut "as soon as possible".

Among those showing their hand were Halifax and Nationwide, respectively the UK's largest lender and building society. Both announced that their standard variable rates (SVRs) would be coming down in line with the Bank of England's announcement.

They followed Lloyds TSB and Abbey, both of which had earlier pledged to drop their rates by 1.5%. Royal Bank of Scotland and Scottish Widows also announced that they were to reduce the cost of their mortgages. Later, Nationalised banks Northern Rock and Bradford and Bingley also said they were passing on the full interest rate cut to its mortgage customers.

The cuts will provide some much-needed relief for hard-pressed homeowners, reducing the monthly cost of a typical £150,000 mortgage by £138 to £887. People who are heavily mortgaged with a £250,000 loan would see their repayments drop by £230 a month, or £2,757 a year.

Earlier, Chancellor Alistair Darling told banking chiefs to pass on the interest rate cut to customers "as quickly as possible", according to sources. The heads of all high street lenders were summoned to a breakfast meeting at the Treasury at which they were urged to drop mortgage rates.

It follows the shock move by the Bank of England on Thursday to slash the bank base rate by 1.5% to 3% - the lowest it has been in more than 50 years.

Prime Minister Gordon Brown welcomed the banks' decision to pass rate cuts on to customers.

Speaking in Brussels, Mr Brown said: "(On Thursday) we saw decisive action on interest rates from the Bank of England and the European Central Bank, and I welcome the fact that a number of British banks have now decided to pass on the interest rate cut to customers, to families and to businesses."

-Nova

[JohnCenaFan28]

Tory leader David Cameron told business leaders a Conservative government would "unblock" credit to get it flowing through the economy.

He told an audience in Glasgow that Labour's handling of the current financial turmoil was based on myths.

And he said the economy would be more resilient through "Conservative responsibility".

Speaking at the Glasgow Science Centre, he said: "This recession was triggered by a credit crunch and it is now vital that we unblock credit and get money flowing through the veins of our economy, back to businesses and families."

He said the Bank of England should be allowed to regulate debt.

And he told the Scottish audience he would strengthen devolution to encourage business.

He added: "I believe we need to move away from an economy that relies too heavily on the narrow shoulders of finance and housing to drive growth.

"We need to move towards science, more hi-tech services, more green technologies, more engineering, more high-value manufacturing."

-Nova

[JohnCenaFan28]

A record number of people were declared bankrupt during the third quarter of the year, figures have showed.

A total of 17,341 people were made bankrupt on a seasonally adjusted basis during the three months to the end of September, 12.1% more than in the second quarter and a 9.5% rise compared with the same period of the previous year.

The increase reported by the Insolvency Service reversed the downward trend in bankruptcy numbers that had been seen during the previous six quarters.

The figures also showed a jump in the total number of individuals declared insolvent, while the number of companies going into liquidation rose at its fastest rate for 18 years.

Commentators warned that the figures were the beginning of an upward trend that would see a record number of individuals declared insolvent next year as the economic downturn worsens.

Pat Boyden, personal insolvency expert at PricewaterhouseCoopers, said: "Bankruptcies have increased for the first time for some months and this significant rise is worrying. (Thursday's) interest rate cut may bring some relief although it may be too late for those in deep financial difficulty."

A total of 27,087 people were made insolvent during the third quarter of the year, 8.8% more than in the previous three months and 4.6% more than during the same period of 2007. Within this figure, 17,341 were declared bankrupt and 9,746 people took out individual voluntary arrangements (IVAs), under which interest on debt is frozen in exchange for a set amount being repaid each month.

The IVA number represented a 3.3% rise on the previous three months, but was 3.1% down on the third quarter of 2007.

Mark Sands, director of personal insolvency at KPMG, expects a record 150,000 people to be declared insolvent during 2009.

KPMG said it had seen an increasingly large proportion of homeowners taking out IVAs during the past year, with people with mortgages now accounting for 45% of those seeking help, up from 30% last year. The average debt owed by someone taking out one of the arrangements is now £48,400, but the group said it saw 500 people during the third quarter who had amassed borrowings of more than £100,000.

-Nova

[JohnCenaFan28]

Steel giant Corus is to cut production by 30% over the next few months and temporarily shut down blast furnaces at two of its UK plants.

The firm, the second largest steel producer in Europe, announced last month it would reduce production between October and December by a million tonnes of crude steel, around 20% of its output, to align production levels with demand.

Corus said on Friday it had now decided to extend production cuts beyond December and expects to produce about 30% less crude steel than planned during the two quarters to the end of next March.

Blast furnaces at Scunthorpe and Port Talbot, as well as one in Holland, will be temporarily shut down.

Corus chief executive Philippe Varin said: "The current slowdown requires us to adapt our operations to the changing environment with maximum speed. We are adopting proactive and responsible measures in the areas of production and costs to optimise our results. Meanwhile, our strategy for long-term growth remains unchanged."

Corus, a subsidiary of Indian firm Tata, said no jobs will be lost as a result of the production cutback. The firm, which employs more than 24,000 workers in the UK, announced 400 job losses on Thursday in its distribution business.

Michael Leahy, general secretary of the steelworkers' union Community, said: "We understand that there will be no permanent capacity cuts. However, we will be having discussions with Corus nationally and locally as to how we might mitigate any damage that may be caused by the shortfall in the order book.

"Community will work to ensure a long-term future for both permanent and contract employees. This revision underlines how the economic crisis is hurting manufacturing in Britain. Community will continue to work nationally for support from the Government.

"We are hopeful that Corus will look to retain capacity to meet long-term demand rather than make a knee-jerk reaction to short-term trends."

Corus has four blast furnaces at Scunthorpe, although one was already idle, and two at Port Talbot as well as one at Teesside, which is not affected by the announcement.

-Nova

[JohnCenaFan28]

The "Brown Bounce" was in full effect as Labour comfortably held Glenrothes in a crunch by-election.

In a result that seemed to take even party insiders by surprise, their candidate Lindsay Roy coasted to victory with a majority of 6,737.

Although the margin was down a third on that achieved at the 2005 general election, the win will be seen as a huge personal boost for Gordon Brown.

And Mr Brown hailed Labour's victory as a vote of confidence for the Government's response to the economic downturn.

Speaking to reporters in Downing Street, the Prime Minister said: "What I have learned from this by-election is that people are prepared to support Governments that will help people through the downturn and offer real help to people. They are less willing to support people who have no idea about how to solve the problems we have got."

Just a few weeks ago Glenrothes looked set to be the third safe seat Labour had lost under his leadership, with the poor performance sparking open calls for him to quit.

However, since then Mr Brown has been boosted by his handling of the global financial crisis, slashing the Tories' poll lead and seemingly impressing voters in Glenrothes.

The seat borders the Prime Minster's Kirkcaldy & Cowdenbeath constituency, and Mr Brown staked political capital by visiting it twice during the campaign - breaking the precedent that premiers stay away from by-elections. Mr Brown's wife Sarah was also deployed to help bring in support.

Up until the count began the SNP were expressing confidence that they had achieved the 12.3% swing needed to overturn the 10,664 majority. However, the mood soon changed, with one Labour official admitting he was "bewildered" by the turnaround.

Scotland's First Minister Alex Salmond took responsibility for the shortcomings in the SNP campaign. He accused Labour of conducting a "scaremongering" campaign over rising home care charges brought in under the local SNP-led council but pledged to "learn the lessons" from the episode.

-Nova

[JohnCenaFan28]

British Airways reported that its half-yearly profits had nose-dived and announced it was already axing services from its summer 2009 schedule.

Pre-tax profits for the period April-September 2008 crashed more than 90% to £52 million, with BA chief executive Willie Walsh describing the half-year as "one of the bleakest on record".

The airline said it was reducing capacity by 1% for summer 2009 and suspending its Heathrow services to Calcutta and to Dhaka in Bangladesh and also axing Gatwick flights to Dublin and Zurich.

Mr Walsh said that a decision on the shape of the winter 2009/10 schedule would be made in the next few months. But he added that he expected more airlines to cease operations and that this could lead to more capacity.

Despite the sharp dip in profits, BA shares rose around 15% as investors welcomed the company's forecast that it expected to make a small profit in this financial year.

The City was also heartened by the news that BA's yields rose more than 10% as a result of higher fares and the impact of a stronger US dollar. Panmure Gordon stockbrokers described the figures as a "reasonable performance in difficult market conditions".

BA's pre-tax profits for the same period last year had been as high as £616 million, but this year BA's had to contend with fuel cost increases of £511 million to £1.49 billion.

Revenues for the six months to September 30 were up 6.4%, despite a weakening in long-haul premium traffic since the summer. Operating profits fell to £140 million from £567 million a year earlier.

Mr Walsh said "The six-month period will be remembered as one of the bleakest on record. The period was hit by a crisis in the banking sector, record fuel prices and several airlines going out of business."

Mr Walsh went on: "I fully expect to see a number of other airline failures and that will take capacity out of the market."

-Nova

[JohnCenaFan28]

Compensation totalling £4 million has been paid by the Ministry of Defence to service personnel unfairly dismissed from the forces because of their homosexuality, it has been confirmed.

Payments have been made to 65 individuals, with an average payout of £61,500. The cases date back to the period before 1999, when four servicemen won their cases at the European Court of Human Rights

The court's ruling that the ban was a violation of the right to respect for a private life under the European Convention on Human Rights resulted in the lifting of the ban on gays in the military the following year.

Settlements in many cases were agreed years ago, but pay-outs were delayed until the completion of the European court case. Some £3.7 million was paid out to 57 people in 2007/08, following payments of £300,000 to eight people over the two previous years.

Details emerged in the MoD's Claims Annual Report, published earlier this week, which said that no further claims or pay-outs were expected.

Peter Tatchell, of homosexual rights group OutRage!, said: "These payouts are small compensation to people who were often subjected to degrading interrogation and detention, and who lost their job and service accommodation.

"Although this monetary compensation package is welcome and long overdue, what's really important is the official recognition that a grave injustice was done to these people and to hundreds of other dismissed lesbian and gay soldiers, sailors and air crews."

The MoD spokesman said: "Sexual orientation is a private life matter. It is the right of each and every member of the Armed Forces to work in an environment which is free from harassment, intimidation and bullying and have equal opportunities for employment, training and advancement based solely on their merits and abilities.

"Over the past few years the MoD has made strenuous efforts to reach amicable settlements in relation to those legal claims which remained outstanding and we are pleased that compensation has now been awarded in all these cases."

-Nova