Home' Greymouth Star : August 4th 2015 Contents Greymouth Star
8 - Tuesday, August 4, 2015
Former trader Tom Hayes was
sentenced to 14 years in jail by a
London court overnight after being
found guilty of conspiring to rig Libor
benchmark interest rates following a
seven-year global investigation.
After a nine-week trial and seven
days of deliberations, the jury of five
women and seven men found Hayes,
a 35-year-old former UBS and
Citigroup trader, guilty of all eight
counts of conspiracy to defraud.
In the first trial of a defendant
accused of Libor rigging, Hayes had
faced up to 10 years imprisonment
for each count of conspiracy over the
manipulation of London interbank
offered rate (Libor), a crucial
benchmark for around $450 trillion
of financial contracts and consumer
loans, between 2006 and 2010.
The London trial, which kicked
off on May 26, marked a new phase
in the inquiry that has led to 21
people being charged and some of
the world’s most powerful banks and
brokerages paying about $9 billion in
Justice Jeremy Cooke said a
message had to be sent to the world
about dishonest conduct in financial
“ Probity and honesty
are essential as is trust. The Libor
activities of which you took part puts
all that in jeopardy.”
He said Hayes would ser ve up to
half his sentence behind bars.
Hayes, who sat impassively as he
received the verdict, had asked to
say goodbye to his wife Sarah before
entering the dock. They shared a brief
kiss before he was locked in the dock
to hear his sentence.
His wife subsequently said the
sentence was “horrific” as she made
her way out of the courtroom.
Britain’s Serious Fraud Office (SFO)
had alleged Hayes set up a network
of brokers and traders spanning 10
leading financial institutions and
cajoled or bribed them to help rig
for profit rates designed to reflect the
cost of inter-bank borrowing.
“The verdicts underline the point
that bankers are subject to the same
standards of honesty as the rest of us,”
SFO director David Green said in a
Stephen Rosen, head of the financial
disputes team at London law firm
Collyer Bristow, said: “ This is a
success for the Serious Fraud Office,
which has put immense resources
into pursuing this prosecution, seen
as a test case to determine whether
it can prosecute other allegedly
dishonest Libor traders.
“It is now more likely to do so.”
The prosecution had said Hayes
simply ignored “red flags” as a global
investigation into Libor rigging
allegations, instigated by United
States regulators at the height of
the credit crisis in 2008, gathered
momentum in 2009 and 2010.
Hayes, who has been diagnosed
with mild Asperger’s Syndrome,
said during his trial he had been
transparent about trying to influence
rates and that his managers were
aware of and condoned trading
methods that were common industry
He said he received no training, that
Libor was at the time unregulated,
his requests for rate levels fell within
a “permissible” range and that he left
a trail of e-mails and computer chats
because he didn’t think he was doing
anything wrong. — Reuters
Ex-trader jailed for interest rate rigging
Two cranes hoisting a massive
section of bridge collapsed in a
western Dutch town overnight,
flattening a row of houses and injuring
at least 20 people, authorities said.
Dramatic videos of the accident
in Alphen aan den Rijn showed the
section of roadway swinging out of
control and falling on to the homes, to
the screams of onlookers.
Several buildings were practically
flattened and rescue workers were
searching for anyone trapped
underneath, Dutch broadcaster NOS
Emergency responders in Alphen
aan den Rijn confirmed the accident
on Twitter, but provided no details.
Dozens of emergency vehicles were at
The bridge, over the Old Rhine river
was being renovated after sur veys
in 2010 had shown that its steel
superstructure was in poor condition.
The renovation, which began in the
spring was expected to last the whole
The accident took place as the vast
steel ramp that forms the central span
of the swing bridge was lowered into
place. — Reuters
Toppling cranes crush houses
Two collapsed cranes in Alphen aan de Rijn, the Netherlands. Two cranes
hoisting a massive section of bridge collapsed in a western Dutch town,
flattening a row of houses.
A former prime minister
has been drawn into the
complex web of historic
child sex abuse allegations
in Britain, when the police
watchdog announced an
1970s leader Sir Edward
The Independent Police
(IPCC) said overnight it
would investigate a claim
from a retired senior
policeman that prosecution
of a person accused of child sex abuse
in the 1990s was dropped when they
threatened to expose Sir Edward.
The former leader of the centre-right
Conser vatives was prime minister
between 1970 and 1974, leading
Britain into the European Economic
Community in 1973 after a referendum.
He died in 2005.
While the IPCC’s investigation is into
alleged historic corruption rather than
whether Sir Edward committed a crime,
it is the first time so a senior figure has
been named in connection with such
The probe is separate to a major, judge-
led inquiry into child sexual abuse in
British institutions such as the BBC,
the National Health Ser vice, children’s
homes and schools that was opened last
“ It is alleged that a
criminal prosecution was
not pursued when a person
threatened to expose
that Sir Edward Heath
may have been involved
in offences concerning
The IPCC will also
officers with Wiltshire
Police in western England
subsequently took any
steps to investigate the
claims about Sir Edward’s actions.
“Sir Edward Heath has been named in
relation to offences concerning children,”
Wiltshire police said in a statement that
noted the former premier resided in a
“He lived in Salisbury for many years
and we would like to hear from anyone
who has any relevant information that
may assist us in our inquiries or anyone
who believes they may have been a victim. ”
There has been a surge of complaints
about child sex abuse since BBC
presenter Jimmy Savile was exposed as
a prolific and predatory paedophile after
his death in 2011.
British police said in May they had
received allegations of historic child
sex abuse against 261 public figures,
including 76 politicians. — AFP
Sir Edward Heath
Lame chicken to get artificial leg
One Massachusetts chicken is
about to get a costly leg up on life —
a $2500 prosthetic limb made on a
The chicken, named Cicely, is
headed into surgery this week for the
start of a first-of-its-kind procedure
to fit her with an artificial limb, her
owner, Andrea Martin of Black
Thistle Farm, said overnight.
Cicely, three months old, was born
with a torn tendon in her right
leg that limits her mobility. When
Martin took her to Tufts University’s
Cummings School of Veterinary
Medicine to be examined last week
she was given two choices — a
prosthetic or euthanasia.
“ It was a no-brainer,” Martin said in
a phone inter view. “S he needs to be
able to live a normal life. ”
Martin’s farm, located in Clinton,
about 72km west of Boston,
specialises in chicken rehabilitation
and this is not the first time she has
splurged on surgery. One of her hens
had a hysterectomy last year that cost
“Anytime you do surgery on a
bird, it ’s a risk,” she said. “But I am
optimistic. I think this will make her
very happy. It ’s worth it.”
When Cicely goes into surgery, Dr
Emi Knafo will amputate her right
leg. She will then run a CT scan on
Cicely’s left leg, to be used for a 3D
printed prosthetic. The chicken will be
sent home to rest for two weeks, before
returning to Tufts for her fitting.
surgeries have been
performed on other creatures, but
Knafo said she believed it was the
first time it has been attempted on a
Martin said she hopes to write a
children’s book about the experience,
once Cicely is healed.
“She needs to tell her story,” Martin
said. — Reuters
A fierce fire that has devoured
drought-parched terrain in
northern California with
remarkable speed raged on for a
sixth day as evacuations expanded
and firefighters began to gain
some ground against the flames
The blaze, dubbed the Rocky
Fire, has scorched some 24,000ha
and destroyed two dozen homes
since erupting last week in the
canyons and foothills along the
inland flanks of California’s
North Coast Ranges, quadrupling
in size over the weekend.
The flames raced through
8000ha in one five-hour stretch
on Saturday night, a growth rate
that officials from the California
Department of Forestry and Fire
Prevention (Cal Fire), described
They said the biggest single
factor has been the extremely
desiccated condition of the thick
chaparral and scrub oak fuelling
the fire, a natural tinder box
created by four years of drought
and stoked by gusty winds.
What sparked the Rocky Fire
remained under investigation, but
Cal Fire chief Ken Pimlott said
yesterday the blaze was one of
more than 20 large conflagrations
across the State following
thousands of lightning strikes in
He said more than 9000
firefighters, many of them
reinforcements from out of State,
were on the lines in California. A
third of that force was assigned to
the Rocky Fire alone, along with
19 water-dropping helicopters and
four tanker aircraft, Cal Fire said.
The blaze erupted on
Wednesday in ranch country near
the town of Lower Lake, about
177km north of San Francisco.
Despite growth in the size of
the blaze overnight, Cal Fire
reported ground crews had
managed to car ve buffer lines
around 12% of the fire zone, more
than double the containment
during the two previous days.
“ Yes, we are gaining some
ground,” Cal Fire spokesman
Jason Shanley said.
Some 6300 structures — a
combination of homes, barns,
sheds and other buildings —
remained under threat after
the loss of 24 dwellings and 26
outbuildings last week.
More than 13,000 people, about
1000 more than yesterday, have
received mandatory evacuation
orders or advisories, Cal Fire said.
No serious injuries have been
reported. But a Forest Ser vice
firefighter from South Dakota
died on Thursday in a separate,
smaller fire roaring through
Modoc National Forest near
California’s border with Oregon.
Fire crews gain ground on Californian blaze
A firefighter races to move a truck to safety as flames approach at the Rocky Fire in Lake County,
California. The fire broke out on Wednesday afternoon in Lake County, 180km north of San Francisco.
Migrants make 1700
bids to cross channel
Migrants in Calais made about 1700
attempts overnight to penetrate the
Channel Tunnel premises in a bid to get
to England, French police sources say.
Of the 1700 attempts, some 1000
were “pushed back” by authorities and
700 were intercepted within the 650ha
Channel Tunnel site, police added.
An officer was hit in the face by a
stone apparently thrown by a Sudanese
migrant, who was arrested. The
policeman was taken to hospital for
The 1700 attempts represented a major
increase from the last few nights when
only a few hundred were registered.
The chaos at Calais spiked last week
when more than 2000 attempts were
made to breach the Eurotunnel defences
and one person was killed, a Sudanese
man in his 30s who was apparently
crushed by a truck.
At least 10 people have died since June
in the rush to sneak into England, seen
by migrants as an “El Dorado”.
French police have bolstered their
presence with 120 additional officers,
which appears to be reducing the
number of nightly attempts to storm the
The issue has become a cross-Channel
political hot potato, with British Prime
Minister David Cameron coming under
fire for comments in which he referred
to “swarms” of people seeking to get into
Meanwhile a 27-year-old Moroccan
man has suffocated to death while trying
to illegally enter Spain hidden inside a
suitcase in the trunk of a car.
The man’s older brother appears to have
tried to smuggle him into Spain by ferry.
The older man, 34, legally boarded
the ferry linking Melilla, a tiny Spanish
territory in north Africa, and Almeria in
southern Spain with a car on Sunday, a
police spokesman said.
During the crossing he noticed that his
brother was not breathing and alerted
the ferry’s staff.
Crew members as well as emergency
ser vices workers in the port of Almeria
tried in vain to resuscitate the man.
Police have charged the man’s brother
with involuntary manslaughter. — AFP
A Jewish extremist group’s leader
has been arrested after a Palestinian
baby died in a West Bank firebombing,
as police investigated on-line threats
against Israel’s president for condemning
The domestic intelligence ser vice
overnight named him as Meir Ettinger,
a grandson of Meir Kahane, a rabbi who
founded the racist anti-Arab movement
Kach and was assassinated in 1990 in
He was arrested in Safed in northern
Israel “because of his activities in a
Jewish extremist organisation”, a Shin
Bet spokesman said.
Police said Ettinger, who is about 20,
was suspected of “nationalist crimes” but
did not accuse him of direct involvement
in Friday ’s firebombing.
According to Israeli media, he was the
brains behind a June 18 arson attack
on a shrine in northern Israel where
Christians believe Jesus performed the
miracle of loaves and fishes.
Ettinger was due to appear in court
later today for a custody hearing, police
Media reports said Ettinger could
face a year of “administrative detention”
under the government ’s harder line
against “Jewish terrorists”.
Israel normally applies the measure,
which dates back to British-mandated
Palestine, against Palestinians, allowing
detention without trial.
But it can now be used with Jewish
detainees in cases of insufficient evidence
to go to trial or if the suspect refuses to
On his blog, Ettinger has in past days
denied the existence of an underground
Jewish organisation, but has defended
attacks on “crimes” such as the existence
of churches and mosques branded as
“places of pagan worship”.
The Shin Bet spokesman said Ettinger
was in January barred from entering
the West Bank or Israeli-annexed east
Jerusalem for a year “because of his
The Palestinians overnight submitted
a request to the International Criminal
Court to probe the firebombing and
“settler terrorism”, their foreign ministry
in the West Bank city of Ramallah said.
On a parallel track, police have
opened an investigation into on-
line threats against President Reuven
Rivlin following his condemnation of
“Jewish terrorism” after the West Bank
firebombing, a presidential spokesman
Rivlin had written a Facebook post
following the arson attack by suspected
Jewish extremists on a Palestinian
family’s home in the West Bank village
of D uma.
“ More than shame, I feel pain,” Rivlin
wrote in both Arabic and Hebrew.
“The pain over the murder of a little
baby. The pain over my people choosing
the path of terrorism and losing their
“Their path is not the path of the State
of Israel and is not the path of the Jewish
people. Unfortunately, it seems that so
far we’ve dealt with the phenomenon
of Jewish terrorism limply,” he wrote,
calling for concrete measures against
Rivlin’s post prompted a wave of more
than 2000 comments, some positive
but others attacking him and recalling
Israelis killed by Palestinians.
“ Dirty traitor. Your end will be worse
than (Ariel) Sharon’s,” said one comment
quoted by Maariv newspaper, referring
to the late Israeli former premier who
spent eight years in a coma.
In 1995, then-Premier Yitzhak Rabin
was gunned down at a peace rally in
Tel Aviv by a Jewish extremist after
a campaign of rightwing incitement
against a peace deal with the Palestinians.
Beijing will limit the number of
vehicles on the streets and shut
factories to ensure clean air during
a commemoration of the 70th
anniversary of the end of World
War Two, the government and
media said overnight.
The heavily-polluted capital,
often cloaked in a choking grey
haze, will hold a military parade
on September 3, which is likely to
centre around Tiananmen Square
in the heart of the city.
The parade will be a highlight of
a series of events the government
has planned for the anniversary
of Japan’s formal surrender on
September 2, 1945.
From August 20 to September
3, the city will halve the number
of vehicles allowed on the streets,
restricting cars according to their
licence plate numbers, the People’s
Daily, the ruling Communist
Party’s official newspaper, said on
The city will also impose
temporary controls on industry,
construction, forcing them either to
stop or curb operations during the
period, the government said on its
microblog account on Weibo.
The capital, which has been
enveloped by smog for the past
few weeks, often enacts pollution
controls ahead of major events such
as the 2008 Olympic Games and a
meeting of Asia-Pacific Economic
Co-operation (Apec) forum leaders
The city government said it was
drawing from the experience of
the 2008 games and the Apec
meeting to ensure “the full
protection of air quality during the
On Saturday, the Xinhua State
news agency said authorities
would impose temporary air traffic
restrictions over Beijing during the
Workers will also be given three
days off over the anniversary,
ostensibly to ease congestion.
nationalist forces battled Japanese
forces that occupied much of China
during World War Two.
The Chinese forces later fought a
civil war which communist forces
won in 1949. — Reuters
Curbs on factories, vehicles to clear
air for W W2 commemoration
Historic Indian peace accord signed
Prime Minister Narendra Modi has
announced a peace accord with a faction
of the Nationalist Socialist Council
of Nagaland (NSCN), an armed rebel
group in north-east India, ending the
country’s oldest insurgency.
“My warm greetings to all those
present here today, on this historic
occasion,” Modi said overnight in
his address to the nation, after the
signing of the peace accord between
the government interlocutor and
Th Muivah, NSCN’s influential IM
faction’s general secretary.
“ Today is historic, a golden moment,
when they quit weapons and join the
mainstream. I welcome them,” he added.
The agreement is expected to pave
the way for peace in north-east India,
particularly in the under-developed
State of Nagaland, that shares its border
The NSCN rebel group — over six
decades old — is seen as the biggest and
most violent insurgencies from among
the dozens of big and small armed tribal
and guerrilla armies that operate in
India’s seven north-eastern States.
Even as recent as this June, at least 20
Indian soldiers were killed in a single
rebel attack in the region. — AFP
Aborigines have more heart issues
Indigenous Australians continue to
have higher rates of heart conditions and
poorer access to cardiac health ser vices
than the rest of the population.
But a new report shows some
improvement in their cardiac care and
a reduction in death rates from cardiac
conditions for Aborigines and Torres
Between 2008-2012 the death rate was
212 per 100,000 people compared with
133 for non-Indigenous Australians,
according to the Australian Institute of
Health and Welfare report.
Some 46% of indigenous people who
presented to hospital with a severe heart
attack had a procedure to open a blocked
or narrowed artery in 2010-13.
This compares with 70% for non-
AIHW spokeswoman Dr Fadwa
Al-Yaman said reasons for the fewer
procedures included later presentation
to hospitals when the condition is more
advanced or complications involving
other chronic conditions such as
In 2014 Australian State and federal
governments agreed to the better cardiac
care for Aboriginal and Torres Strait
islander people initiatives and priority
actions to address the differences.
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