Supermarkets may be forced to sell land to allow rivals to open in areas where there is not enough competition.
The measure is likely to be among the Competition Commission's suggestions to remedy problems it has identified in the UK's grocery market.
There could also be a call for an ombudsman to protect food suppliers in any disputes with the big four supermarket chains.
The regulator will release its long-awaited report at 1630 GMT.
According to market research group TNS Worldpanel, the UK's big four - Tesco, Asda, Sainsbury's and Morrisons - now account for more than three-quarters (76.2%) of the grocery market.
They stand to be most affected by any changes to the system.
See which supermarket has the biggest share of the market
'Too few supermarkets'
In October, the commission concluded that there were aspects of the grocery market which prevented or restricted competition.
A supermarkets ombudsman could protect suppliers
It said many people had too few large supermarkets to choose from in their local area which acted as a barrier to competition
The commission found, for example, that certain retailers hold on to land, which could prevent others from setting up shop nearby.
The commission is expected to recommend changes to the planning system to combat this problem.
These could involve a limit on the length of time supermarkets can keep undeveloped land and stopping supermarkets from imposing restrictive covenants on land to prevent competitors building on it.
Retailers could even be forced to sell stores or land in areas where they are too powerful.
The commission is also expected to call for a supermarkets ombudsman to protect suppliers in their dealings with the big chains.
In October, the commission said it was concerned about retailers being able to transfer unexpected costs to their suppliers.
Thursday, February 14, 2008
BAE inquiry 'put lives at risk'
The government thought "British lives on British streets" would have been at risk if an arms deal inquiry had not been dropped, court documents show.
The claims were made at the start of a High Court challenge brought by the pressure groups Corner House Research and Campaign Against Arms Trade (CAAT).
The groups want to overturn a decision to halt a corruption inquiry into an arms deal between BAE and Saudi Arabia.
They claim that business rather than security reasons brought it to an end.
A lawyer for the groups argued that the decision had been influenced by hopes of winning new contracts.
BAE, the UK's largest defence group, has always said it acted lawfully.
The judicial review at the High Court in front of Lord Justice Moses and Mr Justice Irwin is expected to last for two days.
In the documents released to the court, Helen Garlick, assistant director of the Serious Fraud Office, was quoted as recalling what the Foreign Office told her about its fears of another bomb attack in the UK.
"If this caused another 7/7 how could we say that our investigation, which at this stage might or might not result in a successful prosecution was more important?," the notes quoted her as saying.
Judicial review
The Serious Fraud Office (SFO) had been examining whether BAE gave money to Saudi officials to help secure contracts in the 1980s.
The allegation investigated by the SFO centred on BAE's £43bn Al-Yamamah arms deal to Saudi Arabia in 1985, which provided Tornado and Hawk jets plus other military equipment.
BAE was accused of operating a slush fund to help it secure the contract.
The SFO inquiry into the Al Yamamah deal was stopped in December 2006 by the government, with attorney general Lord Goldsmith announcing that it was threatening the UK's national security.
Corner House and CAAT are trying to prove in court that hopes of winning a huge new arms contract from Saudi Arabia influenced officials.
Threats from members of the Saudi royal family to withdraw security and intelligence cooperation were also to blame, lawyers for the groups argue.
Under pressure
The SFO began its investigation into the Saudi arms deal in November 2004.
Documents released to the High Court showed that a year later BAE wrote letters to the Attorney General setting out the "reasons why the company considers it not to be in the public interest for the investigation to continue".
In one letter, BAE expressed concern that the disclosure of payments to agents and consultants involved in the deal would be seen by the Saudi Arabian government as a "serious breach of confidentiality by the company and the UK government".
It said this would "adversely and seriously" affect diplomatic relations between the UK and Saudi Arabian governments and "almost inevitably prevent the UK securing its largest export contract in the last decade".
Nicholas Hildyard, director of Corner House, said that the documents made it clear that national security, "the reason ultimately given for pulling the plug on this investigation", was used as a last resort.
"It was trotted out as a concern only when all these other special pleadings of commercial and diplomatic consequences had failed," he said.
The claims were made at the start of a High Court challenge brought by the pressure groups Corner House Research and Campaign Against Arms Trade (CAAT).
The groups want to overturn a decision to halt a corruption inquiry into an arms deal between BAE and Saudi Arabia.
They claim that business rather than security reasons brought it to an end.
A lawyer for the groups argued that the decision had been influenced by hopes of winning new contracts.
BAE, the UK's largest defence group, has always said it acted lawfully.
The judicial review at the High Court in front of Lord Justice Moses and Mr Justice Irwin is expected to last for two days.
In the documents released to the court, Helen Garlick, assistant director of the Serious Fraud Office, was quoted as recalling what the Foreign Office told her about its fears of another bomb attack in the UK.
"If this caused another 7/7 how could we say that our investigation, which at this stage might or might not result in a successful prosecution was more important?," the notes quoted her as saying.
Judicial review
The Serious Fraud Office (SFO) had been examining whether BAE gave money to Saudi officials to help secure contracts in the 1980s.
The allegation investigated by the SFO centred on BAE's £43bn Al-Yamamah arms deal to Saudi Arabia in 1985, which provided Tornado and Hawk jets plus other military equipment.
BAE was accused of operating a slush fund to help it secure the contract.
The SFO inquiry into the Al Yamamah deal was stopped in December 2006 by the government, with attorney general Lord Goldsmith announcing that it was threatening the UK's national security.
Corner House and CAAT are trying to prove in court that hopes of winning a huge new arms contract from Saudi Arabia influenced officials.
Threats from members of the Saudi royal family to withdraw security and intelligence cooperation were also to blame, lawyers for the groups argue.
Under pressure
The SFO began its investigation into the Saudi arms deal in November 2004.
Documents released to the High Court showed that a year later BAE wrote letters to the Attorney General setting out the "reasons why the company considers it not to be in the public interest for the investigation to continue".
In one letter, BAE expressed concern that the disclosure of payments to agents and consultants involved in the deal would be seen by the Saudi Arabian government as a "serious breach of confidentiality by the company and the UK government".
It said this would "adversely and seriously" affect diplomatic relations between the UK and Saudi Arabian governments and "almost inevitably prevent the UK securing its largest export contract in the last decade".
Nicholas Hildyard, director of Corner House, said that the documents made it clear that national security, "the reason ultimately given for pulling the plug on this investigation", was used as a last resort.
"It was trotted out as a concern only when all these other special pleadings of commercial and diplomatic consequences had failed," he said.
Forex - Dollar up vs euro, sterling after overnight losses on Bernanke remarks
The US dollar was higher against the euro and sterling midway through the morning session in Sydney on Friday, trimming overnight losses after Federal Reserve Chairman Ben Bernanke warned of sluggish economic growth until the end of the year and indicated the central bank is prepared to continue cutting interest rates to revitalise the world's largest economy.
Hawkish comments from European Central Bank member Axel Weber, coupled with Britain's recent strong wholesale inflation figures, added to pressure on the greenback.
The euro was buying 1.4637 dollars versus 1.4639 dollars in late New York trade after Weber
said the ECB would see a noticeable upward trend of long-term inflationary expectations as a
"clear signal" that it needs to act.
The sterling was worth 1.9685 dollars compared to 1.9689 dollars overnight while the dollar was down at 107.86 yen from 107.92 yen.
''Most of the chairman's (Bernanke's) comments reflected continuing concern about economic prospects, with banks and Wall Street expected to take more hits and 'more expensive and less available credit' a source of restraint on growth, and by extension, the US dollar,'' said John Kyriakopoulos, head of currency strategy at NAB Capital.
Elsewhere, the Australian dollar was doing 90.19 US cents compared with 90.14 cents overnight on expectations the Reserve Bank of Australia will tighten interest rates further.
Sydney at 9.55 am (2255 GMT)
US dollar
107.86 yen
1.097 sfr
Euro
1.4637 usd
157.86 yen
1.6059 sfr
0.7436 stg
Sterling
1.9685 usd
212.334 yen
2.15877 sfr
Australian dollar
0.9019 usd
0.4582 stg
97.27 yen
New Zealand dollar
0.7864 usd
Hawkish comments from European Central Bank member Axel Weber, coupled with Britain's recent strong wholesale inflation figures, added to pressure on the greenback.
The euro was buying 1.4637 dollars versus 1.4639 dollars in late New York trade after Weber
said the ECB would see a noticeable upward trend of long-term inflationary expectations as a
"clear signal" that it needs to act.
The sterling was worth 1.9685 dollars compared to 1.9689 dollars overnight while the dollar was down at 107.86 yen from 107.92 yen.
''Most of the chairman's (Bernanke's) comments reflected continuing concern about economic prospects, with banks and Wall Street expected to take more hits and 'more expensive and less available credit' a source of restraint on growth, and by extension, the US dollar,'' said John Kyriakopoulos, head of currency strategy at NAB Capital.
Elsewhere, the Australian dollar was doing 90.19 US cents compared with 90.14 cents overnight on expectations the Reserve Bank of Australia will tighten interest rates further.
Sydney at 9.55 am (2255 GMT)
US dollar
107.86 yen
1.097 sfr
Euro
1.4637 usd
157.86 yen
1.6059 sfr
0.7436 stg
Sterling
1.9685 usd
212.334 yen
2.15877 sfr
Australian dollar
0.9019 usd
0.4582 stg
97.27 yen
New Zealand dollar
0.7864 usd
China yuan central parity rate set at record 7.1763 to dollar vs 7.1890
The central bank has set the yuan central parity rate at a record 7.1763 to the dollar, according to the China Foreign Exchange Trading System.
The rate, published on the official Chinamoney website (www.chinamoney.com.cn), compares with the midpoint of 7.1890 set the previous trading day.
The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.
On July 21, 2005, China freed the yuan from its long-standing peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate by 2.1 pct.
The PBoC allows a trading band of 0.5 pct on either side of the central parity rate
The rate, published on the official Chinamoney website (www.chinamoney.com.cn), compares with the midpoint of 7.1890 set the previous trading day.
The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.
On July 21, 2005, China freed the yuan from its long-standing peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate by 2.1 pct.
The PBoC allows a trading band of 0.5 pct on either side of the central parity rate
OIL DATA: Japan Jan Power Output Up 4.9% At 90.42B KWh
Electricity generated by Japan's 10 regional power utilities in January rose 4.9% on year to 90.42 billion kilowatt-hours owing to cold weather in the month and continued strong industrial demand, the Federation of Electric Power Companies said Friday. The utilities used 1.19 million kiloliters of crude oil in the month, down from 1.22 million kiloliters a year earlier, the federation said
Thursday, February 7, 2008
Doctor held in Indian organ scam
A doctor alleged to be the mastermind of an organ trading racket in India has been arrested in Nepal, according to Nepalese officials.
Amit Kumar was reportedly discovered in a jungle resort in southern Nepal.
Indian police had been wanting to question Dr Kumar after they raided a house in Delhi which had been used to carry out illegal kidney transplants.
Officers say hundreds of poor labourers were lured from across northern India and bribed into selling their kidneys.
Banned
Kiran Gautam, the police chief in Chitwan district, about 160km (100 miles) south of Kathmandu, told Associated Press news agency Dr Kumar was being taken to the capital for questioning.
Nepal's minister of state for home affairs Ram Kumar Chaudhary told CNN that Dr Kumar was carrying $145,000 and a cheque for 900,000 euros when he was taken into custody.
Indian officials say they will start extradition proceedings as soon as possible.
Trade in human organs is banned in India but many continue to sell their kidneys to clients, including Westerners, waiting for transplants.
In January, police in Gurgaon, a suburb of Delhi, raided the illegal clinic after being tipped-off by a victim. Four people were arrested.
The donors were allegedly paid up to $2,500.
The clients are said to be wealthy Indians, and even some foreign visitors who were in urgent need of a kidney transplant and willing to pay large sums.
Amit Kumar was reportedly discovered in a jungle resort in southern Nepal.
Indian police had been wanting to question Dr Kumar after they raided a house in Delhi which had been used to carry out illegal kidney transplants.
Officers say hundreds of poor labourers were lured from across northern India and bribed into selling their kidneys.
Banned
Kiran Gautam, the police chief in Chitwan district, about 160km (100 miles) south of Kathmandu, told Associated Press news agency Dr Kumar was being taken to the capital for questioning.
Nepal's minister of state for home affairs Ram Kumar Chaudhary told CNN that Dr Kumar was carrying $145,000 and a cheque for 900,000 euros when he was taken into custody.
Indian officials say they will start extradition proceedings as soon as possible.
Trade in human organs is banned in India but many continue to sell their kidneys to clients, including Westerners, waiting for transplants.
In January, police in Gurgaon, a suburb of Delhi, raided the illegal clinic after being tipped-off by a victim. Four people were arrested.
The donors were allegedly paid up to $2,500.
The clients are said to be wealthy Indians, and even some foreign visitors who were in urgent need of a kidney transplant and willing to pay large sums.
ADB Kuroda Says Asia Economy "Not Immune" To US Slowdown
Asian economic growth, although still strong, is not immune to the U.S. economic slowdown, Haruhiko Kuroda, president of the Asian Development Bank, said Friday. Although the impact of the subprime crisis on Asia has so far been limited, "a deep U.S. recession, should it occur, would slow down Asia significantly," Kuroda, a former top bureaucrat at the finance ministry, said at a Asian Development Bank and Asian Development Bank Institute joint symposium. He added that Asian banks' exposure to subprime losses is very limited, but the risks of a spillover from further credit market tightening is potentially large. Therefore, "it's important to expand domestic demand" to sustain Asian economic growth, he said. While the Japanese economy may be currently growing at 1%-1.5%, it seems likely to recover toward 2% in the second half of the year, he said. The negative impact of the construction slowdown due to a change in Japanses building standards laws is likely to fade, Kuroda said. Kuroda is seen as a possible candidate to replace Bank of Japan Gov. Toshihiko Fukui when his term ends in March.
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