Photos from around the world on 4 October
Court overturns convictions of Knox and Sollecito
Attack in the Somali capital, Mogadishu
Hundreds camp out in New York's financial district
Libyan transitional authority troops ceasefire
Anti-Wall Street protest march
Nalgae makes landfall in Philippines
A selection of pictures from this week's news
Anti-Gaddafi fighters capture Sirte airport
Photos from around the world on 29 Sept
Newsnight's Peter Marshall reports on why, despite clear public anger about the prospect of continued financial bailouts for the euro zone, Germans apparently still in thrall to the European Project.
Broadcast on Thursday 29 September 2011.
The fall in petrol sales cost the Treasury nearly ￡1bn over the six months to June, the AA reckoned Drivers have cut their petrol consumption by more than 15% since the credit crunch and the recession.The AA has calculated that petrol sales in the first six months of 2011 were 1.7bn litres less than in the same period three years ago.
The AA says the drop in petrol sales is a direct result of record fuel prices.
Many drivers are struggling to make ends meet in any case, so the high cost of petrol leaves them with no option but to try to use less.
And businesses have been cutting back as well.
The cut in fuel purchases, comparing the first six months of this year with pre-recession levels, is equivalent to 40,000 delivery rounds by fully-laden petrol tankers.
One result has been lower emissions of potentially damaging exhaust fumes.
Another, says the AA, is that the fall in sales has deprived the Treasury of nearly ￡1bn in fuel duty between January and June this year.
And while supermarkets have attracted drivers looking for bargain fuel, hundreds of other petrol stations have gone out of business.
Energy-intensive industries have seen gas and electricity bills soar Despite government hopes that manufacturing will lead the UK recovery, there are fears some energy-intensive industries may be forced to leave the UK as prices rocket.Davin Bates is standing at the cool end of a tunnel kiln watching racks of cups and sugar bowls trundle out ready for glazing.
As we peer fifty feet in to the bright orange centre, he tells me that the internal temperature is well over 1000 degrees centigrade.
Then he breaks the bad news about his gas bill.
Davin is a management accountant at one of Stoke-on-Trent's remaining successful potteries, Steelite. It is a sprawling village of redbrick buildings employing 650 people which produces half a million pieces of crockery a week.
There are seven kilns in all. Keeping them fired up was costly enough last year.
But this year Davin has faced a 55% rise in the cost of gas. The firm's electricity bill has also gone up by 17%.
Tough decisions"We find it difficult to pass on these costs to our customers," says Davin.
He says profits are therefore getting squeezed and the company's future plans are in jeopardy: "Investment will have to be looked at, because this is coming off the bottom line," he adds.
Across the whole sector, energy bills are driving managers to make tough decisions.At the British Ceramic Confederation, Dr Laura Cohen has watched factory after factory close - and she identifies high energy costs as a major problem.
She knows that other companies have moved production overseas.
"We heard only a few weeks ago that one firm has transferred all of their manufacturing to China," she says. "Energy costs are a significant part of that."
It is a trend which is not confined to the long-troubled Potteries. Other parts of the country are hit too.
The huge chemical industry, which contributes ￡30m a day to the British economy, is also suffering.
At the family firm of Thomas Swan in County Durham, enormous sealed vats of chemicals are heated and stirred to make specialist powders and liquids for niche hair dyes, printing and cleaning products.
Managing director Harry Swan, a great-grandson of the founder, has steered the company through the recession and now finds himself hit by electricity and gas bills of almost ￡1m.
His plant uses 28,000 megawatt hours of energy a year. Even before the latest round of price rises, his extra energy costs this year were equivalent to a month's profit. He is dreading the next bill.
For the Chemical Industries Association, chief executive Steve Elliott fears British job losses could be imminent: "There will come a moment when people say enough is enough," he says.
"There will only be one direction of travel - out of the UK."
There could be worse to come.
Industries have been totting up the cost of government and European initiatives to promote a low-carbon economy, the so-called "green taxes", and some say their additional bill will run into the millions.
'Tipping point'Cemex UK runs the biggest cement plant in the country, based on the outskirts of Rugby. It is not averse to the idea of a green economy. In recent years it has moved away from dependence on coal alone.
It now also burns chippings from old tyres and a fuel made from minced-up household waste. But the company is worried about the impact of coming green taxes.
Director Andy Spencer estimates that they will increase his annual energy costs by ￡12m.
What most concerns Cemex is that other countries will not impose similar new taxes on their cement producers. His prices would then struggle to compete on world markets.So Andy Spencer's thoughts are already turning to the possibility of switching production out of the UK to Cemex plants abroad, particularly in Egypt.
"I can foresee a time when economically it makes more sense to do that and I don't think that time is far away," he says.
"We are very committed to the UK, but there is a genuine concern that we could reach that tipping point where the economics don't stack up to produce domestically in the UK."
This seems at odds with the government's goal of rebalancing the economy in favour of manufacturing industries. The Chancellor George Osborne has called for "a march of the makers".
Andy Spencer sees that march hitting a roadblock. "We know we need to make the transition to a green economy," he says.
"But it must not come at the price of exporting our domestic energy intensive industries."
No blank chequesThe Energy Secretary Chris Huhne says there is little the government can do about some energy price rises.
"How much of this is due to the fact that these businesses are very reliant on world market factors? We've had a 27% increase in the gas price on world markets over the year to August," he says.
"Now with the best will in the world, I can't do anything about that."But he argues the government's reform of the electricity market will reduce prices for business and domestic consumers alike.
He is working on plans to announce special help for high-energy industries later this year, and says that in 2020 the net effect of the government's energy and climate change policies will be to reduce bills across the board.
But he is sceptical of some complaints on green taxes.
"I don't accept that some of the stories we are hearing about green taxes are correct. There are some ludicrously inflated and exaggerated claims," he says.
"I do not want to see even the most energy-intensive industries leave the UK, that would be madness.
"But am I writing blank cheques to anybody who says they've got a problem? No."
File on 4 is on BBC Radio 4 on Tuesday 4 October at 20:00 BST and Sunday 9 October at 17:00 BST. Listen again via the Radio 4 website or download the podcast.
Qatar now has 11 years to prepare for the 2022 World Cup To say the football world was shocked when Qatar was given the right to host the 2022 football World Cup would be an understatement.Critics, and many still remain, wondered how such a massive event could be held in a country with a total population less than Greater Manchester's, and where the summer temperature can reach 50C.
However, the man at the helm of organising the tournament insists criticism is misplaced and that the Middle Eastern Emirate will be able to stage a memorable tournament 11 years from now.
Hassan al-Thawadi, the secretary-general of the Qatar 2022 Supreme Committee, is looking to provide a World Cup memorable for all the right reasons.
Mr al-Thawadi said that two billion people were within a four-hour flight of Qatar, and that the World Cup would "build bridges of understanding between the Middle East and rest of the world".
And some bridges need to be built.
He said that since Fifa had awarded it the tournament, the emirate had faced an "avalanche of accusations and allegations" relating to claims it had bribed its way to securing the World Cup.
Mr al-Thawadi said Qatar had in fact conducted its bid campaign "to the highest ethical and moral standards".
'Promises'Now he wants to focus on leaving a "bold legacy" from hosting a World Cup which some analysts estimate could cost as much as ￡138bn to bring about.
Qatar hopes to leave a legacy in the areas of football development, air-cooling technology, building modular stadiums (which can be downsized after the event), and fan experience.
New stadiums will be built and existing ones will have their capacity extended "We can deliver... and fulfil the promises we made to the world," Mr al-Thawadi told delegates at the Leaders in Football conference in London.
He said Qatar has been drawing inspiration about how to host a successful event from a number of sources, including London 2012.
The small nation, population 1.7 million, is now looking to appoint a project management company by the end of the year - "a crucial appointment which we must get right".
It is also looking to draw up a "master schedule" for stadiums and infrastructure, in order to resolve any potential pitfalls on the road to 2022 as soon as possible.
There will be 12 stadiums in use at the World Cup, and it is hoped the first new one with air-cooling technology with will be in place by 2015.
CoolingIn addition, Mr al-Thawadi said the 2022 World Cup would benefit from a "state-of-the-art transport infrastructure" which needed to be largely constructed from scratch.
The official said that the small size of the emirate meant fans would be able to stay in the same hotel for the duration of the tournament, and also to travel easily and take in two games in one day at different venues.One on the thorny question of temperature, the country says it is also developing air-cooling techniques.
"Technology is already being trialled in open spaces in Qatar," says Mr Al al-Thawadi.
There has been talk of moving the World Cup to the winter, but this notion has been scotched my many, including the German football federation.
"We submitted a bid that looks towards hosting a summer World Cup - we are moving towards that," says the 2022 supremo.
He said it was up to the global football community to come to any unanimous decision if that situation was ever to be changed.
Meanwhile, nine of the stadiums being used will be modular, and Qatar will donate 170,000 seats to developing countries after the World Cup, when stadiums are slimmed down.
That he said, meant the country would not be lumbered with any large "white elephant" rarely full stadiums after 2022.
AlcoholFor potential visiting fans, Mr al-Thawadi wanted to quell fears that there would be nothing for them to do after matches.
Continue reading the main storyWe are confident and excited that this will leave a legacy of understanding, and that people can unite through a shared love of football”End Quote Hassan al-Thawadi Qatar 2022 "There is significant investment in tourism in Qatar, museums and entertainment sites, and a service industry dedicated towards fans," he says.
"We have always said alcohol would be available. It might not be as available as it is in London, but any fan that wants to enjoy a drink can do so."
He said the Qatar public would also be prepared for the influx of fans and, for example, their different dress sense.
In addition, he said Qatar was host to many different communities, including English people, and was "used to being hospitable".
He added: "We have hosted major events over the years" - including the 2006 Asian Games.
CatalystThe country has also applied to host the 2017 World Athletics Championship - in competition with London - and also the 2020 Olympics.
"The Olympic Games bid is not a distraction to 2022, and may be an opportunity for some synergies with the World Cup."
It is hoped the 2022 World Cup will help improve football quality in Qatar Hosting these large sporting events could, he said, be used as "an economic tool".
"The World Cup can be a catalyst of economic change," he believes, not only for Qatar but for the whole Middle East region.
He said a number of yet-to-be-revealed initiatives were in the pipeline to involve other Middle East countries' participation in the World Cup.
Finally, on the playing field, it is hoped that 2022 will provide the same boost to football in West Asia that the 2002 World Cup in Korea and Japan did for East Asia, particularly the two host countries.
"We want people to come and explore, and learn about us," he says.
"We are confident and excited that this will leave a legacy of understanding, and that people can unite through a shared love of football."
The shutdown if the refinery has affected gas, oil and jet fuel production. Shell has declared a force majeure on some of its customers after a fire shut down its refinery in Singapore last week. The fire affected its diesel fuel unit but forced Shell to shut its entire refinery, hurting its supplies.
The declaration of Force Majeure excuses a company from contractual agreements when an extraordinary event occurs which is beyond its control.
The refinery is Shell's biggest such operation globally.
"We confirm that Force Majeure has been declared on some of our customers," Lee Tzu Yang, chairman of Shell Singapore, said on the company's website.
"We continue to be in discussions with our customers to address their supply of product needs and to minimise any potential impact on them," he added.
The refinery has a capacity of 500,000 barrels a day.
Dexia received a 6bn-euro bailout at the height of the financial crisis Dexia has called an emergency board meeting amid fears over its exposure to Greek debt.Meanwhile, shares in the Franco-Belgian bank fell 10% on Monday after rating agency Moody's said it was reviewing Dexia for a possible downgrade.
The finance ministers of Belgium and France are meeting eurozone colleagues in Luxembourg, and are expected to discuss ways to support the bank.
Financial markets fell on news Greece would miss deficit reduction targets.
Greece announced on Sunday that the 2011 deficit was projected to be 8.5% of gross domestic product, down from 10.5% in 2010, but short of the 7.6% target set by the EU and IMF.
Write-offThe news affected financial markets across Asia and Europe, with bank shares among the hardest hit.
Eurozone banks have been hit by cash outflows since the summer amid fears that Greece, and possibly other governments, may ultimately default on their debts, and even leave the eurozone, leaving their lenders sitting on big losses.
Dexia shares initially fell 14% on news of the possible rating downgrde, and despite a rally back in later trading, they were still the worst hit in the financial sector.
Moody's cited Dexia's potential losses on a Greek debt default, as well as the bank's recent difficulties in borrowing short-term cash from markets, as reasons for the rating review.
Continue reading the main storyIt was only on July 15 that the European Banking Authority [stress tests]... portrayed Dexia as one of the strongest banks in Europe”End Quote
Robert Peston Business editor, BBC News Dexia's exposure to Greek government debt totals 3.4bn euros ($4.5bn; ￡2.9bn). Its total exposure to Greece - including to private-sector Greek borrowers - is 4.8bn euros.It has already written off 21% of its Greek debts, but market prices now suggest the eventually loss to lenders could be in excess of 50% of the amount owed by Greece.
Paris-based business newspaper Les Echos reported on Friday that the French and Belgian governments would discuss measures to shore up Dexia's balance sheet.
The bank is already partly-owned by the two governments, after it received a 6bn euros joint bailout at the height of the financial crisis in 2008.
There were reports last week that the bank could be split up, and speculation of a possible nationalisation of the bank.
Another option under consideration is the sale of Credit Local, a unit of the bank responsible for lending to French local governments.
Belgian Finance Minister Didier Reynders told Belgian radio on Friday that Dexia's shareholders should be behind the bank and be ready intervene if there was a problem.
Price rises have recently been announced by all the major energy suppliers The cheapest domestic energy deal available to UK householders has risen above ￡1,000 a year for the first time.Scottish Power has withdrawn its ￡990 internet tariff, following moves by other energy providers in recent weeks.
Some online packages are cheaper than the average gas and electricity bill because of the lower overheads involved.
But these prices have risen in the same way as other payment options, with companies blaming wholesale costs.
TariffsLast month, EDF Energy became the last of the "big six" energy companies to announce increases in prices for domestic customers.
The tariffs across the industry have included price rises of up to 18%.
Price comparison website Uswitch said that in the last couple of months, energy companies had withdrawn some of their most competitive online rates.
Meanwhile, Mark Todd, of price comparison website Energyhelpline, said that the cull meant households with average energy use could no longer get any deals for under ￡1,000.
"This is the first time that has been the case and emphasises in stark terms how bills are reaching historic levels," he said.
Regulator Ofgem is studying whether higher prices are justified, while Energy Secretary Chris Huhne recently pledged to "get tough" with the six biggest energy companies on their tariffs.
Scottish Power Scottish & Southern British Gas Npower E.On EDF
Arsenal moved from Highbury to Emirates Stadium in 2006 Chief executive Ivan Gazidis has said Arsenal's financial future is bright despite a fall in turnover and profit.The Gunners reported group turnover for the year ending 31 May as ￡255.7m, down from ￡379.9m in 2010, while profit was also reduced from ￡56m to ￡14.8m.
Gazidis told the club website: "We are very secure - it's a good set of results again.
"This is a very solid, very healthy set of results and it gives us a good platform to move forward from."
Continue reading the main storyArsenal's accounts do not include the ￡30m gained from the sale of Cesc Fabregas, the ￡24m received for Samir Nasri or the ￡7m paid by Manchester City for Gael Clichy
A reduced income from property sales at the Highbury redevelopment and increase in player wages have played their part in the drops, but the figures do not include the sales of midfielders Cesc Fabregas and Samir Nasri to Barcelona and Manchester City respectively.
"We didn't have the same kind of profit from player sales that we had in the previous season and that explains the slight reduction in profit," added Gazidis.
"We haven't seen the same kind of profits from the property side that we have seen in the past but that was entirely to be expected. Our property business is debt-free so any new sales of property do accumulate cash, which is very positive for the future."
Mr Osborne has found ￡805m to freeze council tax in England in 2012-13 - saving people ￡72 a year.
But he stressed that money is still tight and there will be no deviation from his deficit reduction plan.
He said solving the eurozone crisis remains the most important factor in kick starting growth in the UK.
The chancellor has been under pressure from Labour to cut VAT to inject money into the economy - and from senior figures in his own party to scrap the 50p top rate of income tax.
'Debt crisis'But in a sober speech to party activists, the chancellor said it would be wrong to borrow money to fund temporary tax cuts or increase public spending.
He did, however, announce that the Treasury would engage in "credit easing" - a move aimed at cutting the cost of borrowing for hard-pressed businesses, as well as improving access to loans.
The BBC's business editor Robert Peston said the move, which would involve the public sector buying bonds issues by companies, was "potentially very significant" but full details would not be revealed until the chancellor's autumn statement in November.
In his speech, Mr Osborne said he had "thought hard" about what more can be done to boost growth and explored "every single option" - but "borrowing too much is the cause of Britain's problems, not the solution".
Continue reading the main story
Nick Robinson BBC Political Editor The most significant announcement in the chancellor's speech is also the one fewest will understand.
It is his pledge that the Treasury will engage in "credit easing" - ie some as yet unspecified way to underwrite loans to small businesses who are struggling to get credit now.
The speech that they are quoting at the top of government is by Adam Posen (a member of the Bank of England's interest rate-setting committee).
Although I'm told that his proposal for a new bank may take too long to implement.
"We would be risking our nation's credit rating for a few billion pounds more, when that amount is dwarfed by the scale and power of the daily flows of money in the international bond markets, swirling around ready to pick off the next country."We will not take that risk. We are in a debt crisis, it is not like a normal recovery. You can't borrow your way out of debt."
And he added: "I'm a believer in tax cuts - permanent tax cuts paid for by sound public finances.
"Right now, temporary tax cuts or more spending are two sides of exactly the same coin, a coin that has to be borrowed - more debt that has to be paid off."
Mr Osborne said Britain's economic troubles were caused by the "catastrophic mistakes" of the previous Labour administration, as well as banks which "let down their customers, let down their shareholders and let down this country".
'Underspend'He said the government is helping businesses by keeping interest rates low - "the most powerful stimulus that exists" - but borrowing billions of pounds more would put that at risk.
Mr Osborne's speech comes as the Institute of Directors called for a fresh effort to boost economic growth in the UK.
The chancellor announced increased investment in scientific research and the extension of mobile phone coverage to six million people - as well as extra cash from a Whitehall "underspend" to fund a council tax freeze.
The government cannot force councils to freeze bills but it is offering to give those that limit spending rises to 2.5% the money they need.Money would also be offered to the Scottish and Welsh administrations, which will choose how it is spent.
Speaking earlier to BBC News, Mr Osborne said a solution to the eurozone debt crisis must be found by the time the Group of 20 nations meet next month and failure to do so would be "terrible not just for Britain, not just for Europe, but for the entire world economy".
The chancellor, who is travelling to Luxembourg for a meeting with European finance ministers, told BBC News that the 17 eurozone nations meeting in Luxembourg on Monday must decisively figure out how to handle Greece's debts, and urged them to extend the size of their bailout fund.
Credit ratingThe chancellor's speech comes as Standard and Poor's said it would hold the UK's credit rating at the highest possible level in light of its "wealthy and diversified economy" and said the outlook remained "stable".
But the agency, which released the announcement just as Mr Osborne took to the stage in Manchester, said the government's efforts to correct the UK's public finances would "weigh on the economy".
For Labour, shadow Treasury minister Chris Leslie said it was "staggering" the speech did not give more attention to the "growth problem".
He said: "His speech really seemed incredibly complacent and quite frankly out of touch, out of touch with the realities of some of the costs that ordinary people face, the difficulties that businesses are facing and no plan for growth."
But Andrew Tyrie, the senior Conservative backbencher who said at the weekend that the government was not doing enough to promote economic growth, told the BBC: "I think it's a huge step forward, and will be widely welcomed not only in the party, but by all those people in the country who also need a growth strategy to help them move forward."
Hayes joined the Wasps board in 2007, before taking ownership on December 2008 Wasps owner Steve Hayes has announced he is looking to sell the club.Hayes, who also owns Wycombe Wanderers FC - Wasps' fellow tenants at Adams Park - bought the Premiership outfit in 2008.
Hayes said a failure to receive backing for a new stadium at Wycombe Air Park had contributed towards the decision.
"The vision of planning and developing this facility was one of the key reasons I got involved in the club," he told the Wasps website.
"And being unable to bring this to fruition remains bitterly disappointing.
Continue reading the main story June 2004: Buys a 25% stake in Wycombe WanderersOctober 2007: Joins the Wasps board after buying 11.6% stake in the clubJanuary 2009: Takes full ownership of WaspsJuly 2009: Becomes owner of Wycombe, where he was previously managing directorJuly 2011: Fails in bid to create a new stadium for both clubsOctober 2011: Announces he is looking to sell Wasps"I fully believe that a new stadium for Wasps is essential in the coming years as we have always said that Adams Park was unsustainable as a long-term option.
"I will work with any potential owners to develop the sporting village model we had already come up with at an alternative location."
In his three years at the club Hayes has started an annual St George's Day game at Twickenham and oversaw an English club's first competitive game overseas.
"Any new owner will have to show me that their aspirations are to provide London Wasps with the right level of investment and structure to ensure that they are once again a team in the hunt for titles at the end of every season," the businessman added.
Former Wasps forward Lawrence Dallaglio, who is a member of the club's board, said: "Steve's passion and vision over the past number of years has helped bring the club to new audiences around the world and any new owners will take on a club in a healthy position in terms of the direction it is heading on and off the pitch."
Hayes insisted he will remain at the helm of Wycombe, but has not ruled out a future sale of the League One side.
"I want to assure [Wycombe supporters] that I remain fully committed to Wycombe Wanderers," he explained.
"Of course, as ever, if approaches are made to me for the club then these would be considered carefully based on what is best for the club but for now my intention is to remain the owner for the foreseeable future."
The 24-hour strike saw flights and ferry services cancelled, government offices and tourist sites closed, and hospitals working with reduced staff.
Many strikers expressed frustration and anger at the cuts.
The European Commission is discussing ways of propping up banks in Europe to protect them from the Greek crisis.
The general strike is the first since the Greek government announced an emergency property tax and the suspension of 30,000 public sector staff last month.
But despite these measures, the government has failed to cut its deficit to 7.5% of economic output (GDP) - a target it must meet if it is to receive the next instalment of bailout money from the EU.
Meanwhile, in its latest report on the European economy, the International Monetary Fund (IMF) has warned that economic growth is in danger of petering out and a global recession in the coming year cannot be ruled out.
Global financial markets have been in turmoil over fears that Greece could default on its debt, most of which is held by European banks. In other developments:On Tuesday, Moody's ratings agency slashed Italy's credit rating from Aa2 to A2, blaming an overall loss in confidence in eurozone governments.Despite the Italian downgrade, European markets rose sharply as trading opened on Wednesday.Belgium and France are working on plans to rescue the Franco-Belgian Dexia bank, which is exposed to Greek debt.German Chancellor Angela Merkel said again that Greece must remain a member of the eurozone.'Lives ruined'The government says the stringent austerity measures cannot be avoided if the country is to reduce its deficit of 8.5%.
Continue reading the main story
Mark Lowen BBC News, Syntagma Square, Athens It is a very noisy demonstration indeed here, certainly the biggest demonstration by Greece's public sector in several weeks. The country has ground to a halt.
All of these people are extremely angry at the austerity measures that the government is desperately trying to push through to qualify for the next instalment of its international bailout, in order to stave off bankruptcy and avoid defaulting on its debts.
The government says it is in a very difficult position, because it must pursue its austerity drive to meet its fiscal targets and reduce the budget deficit to avoid bankruptcy within the next few weeks.
But this wave of social unrest is growing by people who say the measures are deepening the recession, stagnating the economy and stunting Greece's growth.
But the measures are hugely unpopular and have led to a wave of strikes and protests.Tens of thousands of people stayed away from work across Greece. In central Athens, at least 16,000 marched to Syntagma Square to join a demonstration outside parliament.
Although most of the protests were peaceful, police fired tear gas at small groups of demonstrators who were throwing stones.
About 10,000 people marched in the northern city of Thessaloniki.
Critics of the austerity drive say it is deepening the recession, stunting Greece's growth - the economy will shrink 5.5% this year - and stopping the country from being able to reduce its government debt itself.
Protesters also say they are unfairly bearing the burden of the country's debt.
"This is an opportunity for the Greek people, whether in the public or in the private sector, to fight this, to deny this logic that we must bow our heads all the time to save the country and show patriotism," said 37-year-old protester Dimitris Kizilis.
"We believe, as workers, that patriotism is to respond with actions."
Continue reading the main storyThere are some European regulators and politicians who regard the downgrade of Italy and the woes of the Franco-Belgian bank Dexia as positive events (oh yes) ”End Quote
Robert Peston Business editor, BBC News Stathis Anestis, a spokesman for Greece's main union the GSEE, said the new measures were "just extending the unfair and barbaric policies which suck dry workers' rights and revenues, and push the economy deeper into recession and debt"."With this strike, the government, the EU and the IMF will be forced to reconsider these disastrous policies," he told Reuters.
Greek civil servant and trade unionist Tiana Andreou told the BBC that people's lives had been ruined.
"We have decided that we're going to stop this."
Some militant civil servants are promising to sabotage the moves. On Tuesday, protesters again blocked the entrance to several government departments, including the finance and transport ministries.
The government says it has enough cash to pay pensions, salaries and bondholders until mid-November, having previously said it needed more money by mid-October to avoid a default.
Inspectors from the IMF, European Central Bank and European Commission - known collectively as the troika - have been in Greece this week to assess its financial situation.But eurozone finance ministers have delayed a decision on handing over the money, after Greece said it would not meet this year's deficit-cutting plan.
The government admitted that the budget deficit will stand at 8.5% this year, rather than the 7.5% target.
On Wednesday, the IMF's European chief Antonio Borges said there was no rush for the second bailout, and that he was "confident negotiations will come to a positive conclusion".
Guinea is the world's main exporter of bauxite Guinea's new mining code will curb corruption and make more money available for development, Prime Minister Mohamed Said Fofana has said. The code gives the government a free 15% share in mining companies and demands greater financial transparency.
Several foreign firms have warned that the code, which came into law over the weekend, will deter investors.
Guinea, despite being the world's main exporter of the aluminium ore bauxite, is one of Africa's poorest countries.
A democratic government was elected in December, ending the authoritarian and military rule that had blighted the country since independence in 1958.
In an address on national TV, Mr Fofana said the government would hold investors accountable and ensure they paid taxes and royalties.
Foreign companies would have to invest a minimum of $1bn (￡633m), he said.
'God-given riches'The BBC's Alhassan Sillah in the capital, Conakry, says this is intended to prevent companies bribing officials in exchange for cheap mining rights.
Continue reading the main story"[The] mining code adopted in Guinea increases considerably tax pressure on mining companies, making it senseless to invest in development and new projects”End Quote United Co Rusal Previous mining contracts would be reviewed to ensure there were no irregularities, our reporter says.
On Monday, Mines Minister Mohamed Lamine Fofana told Reuters news agency that the government had overturned an agreement by the ex-military junta to give secretive investment group China International Fund the rights to all of Guinea's unexploited resources.
The new code guarantees the government a minimum stake of 15% in companies and the option of buying a further 20%, Reuters says.
It also requires companies to carry out environmental and social impact studies before they are granted mining permits, the agency says.
The prime minister said this would prevent environmental degradation, making sure that communities living near mines did not suffer.
Our reporter says most Guineans have welcomed the mining code, hoping that they will finally benefit from the country's "god-given riches".
But it has been opposed by several big companies operating in Guinea, including Moscow-based aluminium company United Co Rusal, which said it would not make further investments in Guinea.
"[The] mining code adopted in Guinea increases considerably tax pressure on mining companies, making it senseless to invest in development and new projects," it said in a statement to Bloomberg news agency.
Another major investor in Guinea, Australia's Rio Tinto, also expressed concern about the code, saying it would cost the company an extra $10bn, the Christian Science Monitor news website reports.
Our correspondent says the government is unlikely to bow to business pressure because mining sector reforms was a key promise to voters in the build-up to December's elections.
The government took over from the military junta that had seized power in December 2008 on the death of the previous President, Lansana Conte, who had ruled for 24 years.
Guinea holds half of the world's bauxite reserves, as well as large deposits of gold and diamonds.
However, most of its citizens live on less than $1 a day.
Mr Joyce has received a threatening letter about his role in the dispute Qantas says its chief executive, Alan Joyce, has received a threatening letter related to its current industrial dispute.The letter comes amid a row between the Australian airline and unions on a restructuring and outsourcing plan that could lead to job cuts.
But officials from two unions have raised doubts about the authenticity of the letter, saying that it was not clear who sent it.
Police are investigating the matter.
According to reports in the Australian media, the letter went on to read: "The unions will fight you... Qantas is our airline, started and staffed by Australians, not foreign filth like you."
Irish-born Mr Joyce has been Qantas' chief executive since November 2008.
Luke Enright of Qantas confirmed to the contents of the letter to the BBC, though he refused to comment further on the matter.
Unions' anger However, the Transport Workers Union (TWU) and Australian Licensed Aircraft Engineers Association (ALAEA) accused the airline to turning the issue into a public relations exercise."We are unsure whether it came from an angry employee, or it may have been fabricated by the Qantas management to gain sympathy from the public," Steve Purvinas, federal secretary of ALAEA, told the BBC.
TWU's national secretary, Tony Sheldon, said: "This is an unsubstantiated piece of correspondence, that was either created by Qantas or sent by any of its 35,000 employees or people outside the company."
They said the airline had been losing public support because of its plans to restructure its business and relocate jobs outside Australia and as a result, it was trying to garner public sympathy using such tactics.
"The question here is, did they go to the police first or the media," TWU's Mr Sheldon said. "They released the letter to the media even before their staff knew about it."
Flights cancelledThe airline and the union members have been involved in a dispute that has seen Qantas' services being disrupted.
Last month, Qantas cancelled 28 flights, while another 27 were delayed after ground staff stopped work for four hours at all major Australian airports.
The union members have been striking against the planned restructuring that will see the airline's operations expand in Asia.
Qantas has also announced plans to launch two new airlines, including a budget carrier based out of Japan. At the same time, Singapore and Malaysia are being talked about as potential hubs for the other venture.
There have also been concerns that the outsourcing of certain jobs could result in as many as 1,000 job cuts in Australia.
Sony may merge its phone joint venture with its other mobile gaming business Shares in the Swedish telecoms firm Ericsson have risen on a report that Sony may soon buy it out of their mobile phone handsets joint venture.The Wall Street Journal says Sony wants to integrate the division with its tablet computer and hand-held games machine businesses.
The report said the Japanese firm may pay its partner up to 1.25bn euros ($1.7bn, ￡1.1bn) for its 50% stake.
Ericsson's shares climbed close to 8% in US trading after the news broke.
'Struggling'Despite Sony's reputation as a technology innovator, the joint venture has struggled to maintain market share.
Sony Ericsson accounted for 1.7% of all global mobile phone sales between April and June, according to a recent report by technology research firm Gartner.
That compared to a 3% share the previous year.
"The business has been struggling," said Mark McKechnie, a technology analyst at ThinkEquity.
"Sony's decision to use its brand with Ericsson's technology was a good idea, but it didn't work out. Now it wants more control to better compete against Apple and other [Google] Android devices."
Wembley's income is boosted by other, non-sporting events Football Association chairman David Bernstein has said that English football's national stadium, Wembley, will financially break even by 2015, one year later than previously planned."Wembley is doing very well, it has been extremely profitable," he said.
Mr Bernstein added that the rebuilt stadium was showing an annual operating profit of between ￡40m and ￡50m.
He said he expected the stadium, built for ￡757m and opened in 2007, to start pumping cash into the game by 2015.
But he said that large interest charges and other continuing costs remained an issue.
The FA, which owns the stadium through its subsidiary Wembley National Stadium Ltd, said earlier this year it envisaged Wembley breaking even in 2014.
But Mr Bernstein told delegates at the Leaders in Football event in London: "By 2015, Wembley should start putting money back into the game, instead of being subsidised by the game."
World-class venuePreliminary financial figures for 2010 released earlier this month by the FA showed that it paid out ￡22m in net interest during the year, partly to service the loans taken out to build Wembley.
And last year, FA general secretary Alex Horne said the association had budgeted to subsidise Wembley by ￡20m a year in 2010 and 2011 and ￡12m a year in 2012 and 2013.
Wembley's business plan relies on concerts and other events to boost the bottom line, but the FA obviously also sees the stadium as a world-class football venue.
And Mr Bernstein said that this on-field goal had been greatly been helped by the successful staging of the Champions League final at Wembley in May between Barcelona and Manchester United.
"I think that is when the new stadium really came of age," he said.
He also said it was a great vote of confidence in the Wembley when Uefa decided to stage the Champions League final again at the stadium in 2015.
The protesters gather outside City Hall to shout their complaints at the Mayor's office Is America taking a leaf from Europe's protest manual?It is rare to see demons
Lloyds Banking Group has until the end of 2013 to sell the 632 branches New banking venture NBNK Investments has confirmed that it has made a bid to buy 632 Lloyds Banking Group branches.NBNK did not reveal the value of its offer, but the BBC understands it is about ￡1.5bn.
Lloyds is being forced to sell the branches by European Commission competition authorities.
NBNK, which was co-founded by Lord Levene, chairman of insurer Lloyd's of London, said there was "no certainty that a transaction will be completed".
Lloyds has been given until the end of 2013 to dispose of the branches.
Two other potential bidders have been linked with the Lloyds disposal: Co-operative Financial Services and Sun Capital, a US investment firm.
Lloyds is having to sell the branches as a result of it needing state-aid from the UK government, which currently still holds a 41% stake in the bank.
The branches being sold include some of Lloyds' main Lloyds TSB brand, plus Cheltenham & Gloucester and Halifax outlets.
The test purchases were part of an EU-wide campaign to check consumer rights More than half of traders failed to give full refunds to customers who pulled out of online purchases during a cooling-off period, tests have shown.Under consumer rights law, all costs - including delivery costs - should be refunded if consumers decide to cancel the contract in the allotted time.
Test purchasing by European authorities found that in 57% of cases, traders failed to reimburse delivery costs.
A BBC investigation highlighted the issue in December.
Online shoppingWhen buying from the internet, unlike in a shop, customers are unable to examine the goods before they buy them.
As a result, a cooling-off period is available to people shopping online. In the UK, shoppers have seven working days to return items bought on the internet that they do not want to keep. In some European countries it is longer.
There are a few exceptions, such as unwrapped CDs and perishable goods, but otherwise the money should be credited to the buyer's account as soon as possible and within 30 days at the latest.
Continue reading the main story In the UK, there is a cooling-off period of seven working days for unwanted itemsTraders should refund within 30 days, unless previously agreed otherwiseDelivery charges should also be reimbursedSome perishable goods such as foods and flowers are exemptRights for goods that are not of satisfactory quality are the same as the High Street - a refund, replacement or repairAny refund should include delivery costs incurred by the customer.During a mystery shopping exercise by European authorities in 2003, these delivery costs were not reimbursed in 53% of cases.
But 305 tests earlier this year, by the European Consumer Centres' Network, found that this had increased to 57%, although refunds for the items themselves were paid in 90% of cases.
"This needs to improve in order to ensure a continuous positive development in cross-border e-commerce," a spokesman for the UK European Consumer Centre said.
In 7% of all the purchases made, the trader did not inform the customer about the price of the delivery costs at all.
ChangesSome results of the test purchases do make better reading for consumers.
For example, the delivery rate for items ordered online improved significantly compared with 2003, as had the number of items delivered within 14 days. There was also an increase in the number of websites offering information in more than one language.
Many of the current consumer rules operating in EU countries pre-date the widespread use of the internet by shoppers.
So MEPs have approved plans to update the rules, including a 14-calendar-day cooling-off period for online purchases.
Governments will have two years to implement the changes.
at 11: 29 GMT 16-Volkswagen in its release of detailed investment plan yet, despite economic concerns German factories recorded a 0.9% drop in industrial orders over the month of August, according to government data.It is the second month in a row that demand has weakened, casting further gloom over the prospects for Europe ' s value economy.
Economists had expected no change after July's 2.6% fall.
The German economy support blamed "special factors". It said the decline was driven by a fall in domestic demand during the summer holidays.
Orders from maintains rose by 0.1% over the month.
Eurozone debt and NGOSurveys suggest button Pack German business confidence is waning. The closely watched Ifo business climate index hit its lowest level for more than a year in 203.
Analysts say a lack of "clarity" about how the eurozone debt and NGO will be resolved is making consumers and companies cautious about spending.
"These numbers are too volatile to draw any firm conclusions." said Berenberg bank's chief economist, Holger Schmieding.
"But of course the significant fall in orders in August, following the drop in July, could be a first sign that demand is weakening."
Death sentence?: As brands are given the opportunity to have their own domains, could the dominance of .com be at an end? Business is good. Your bathroom fittings company has replaced the conveniences in half the homes in your neighbourhood. But there's one small fly in your ointment.You were a bit late to the game when it came to the internet.And when you finally decided to go online, www.bloggsbogs.com was already taken. You're pretty sure this must be the reason you haven't made quite the splash you wanted in other towns.
Is there another way?
Domain dominionBeginning in January 2012, applications open for a new class of gTLD (generic top level domain).
The people who control the use of internet domains, Icann (Internet Committee for Assigned Names and Numbers), announced in June they were extending the suffixes used for web addresses beyond the existing 22 (.com, .net, .uk, etc).
Interested parties can apply to run one, and either retain it for themselves, or set up as a registrar selling domains within groups like .car or .bank.
Icann voted to allow the proposals for the new domains at their meeting in Singapore in June 2011. The suffixes don't have to be roman letters, so could for example be Chinese characters.
Some rules do apply - for instance, they must have at least three letters (Icann is holding onto the remaining two letter domains in case new countries are created).
So now companies can bid for their own gTLD for the first time. Think .hitachi, .coke, .facebook.
Could .com's dominance be coming to an end?
Time limitedIf your dream of registering .bloggsbogs is going to become reality, you'd better get your skates on. The application period opens on 12 January 2012, and closes three months later on 12 April.
Miss this and you may be twiddling your thumbs till 2015 according to Tim Callan, chief marketing officer at domain experts Melbourne IT DBS.
"[Companies] have to be prepping, and they have to be getting ready and figuring out what they're doing so they're ready."
Some may be left behind, says Simon Briskman, partner and IT specialist at law firm Field Fisher Waterhouse.
Tim Callan: "Verisign predicts there will be 1,500 applications" "I think it's difficult for brands to take this very short period we've got - the last quarter of this year - to assess and make a full business case."
Mr Briskman says some companies have stalled, initially put off by the cost.
"I think we've now got to the point where people are going: 'Hang on a minute, this is a drop in the ocean compared with the investment we make in the brand. We really do need to properly assess the business case.'
"[Some] big brands are going to miss the window - simple as that. You can't move large organisations at this speed."
Shirt off your backCost may cut out all but the megabrands.
Applying will set you back $185,000, and it doesn't stop there, says Melbourne IT DBS's Tim Callan: "Your corner mom-and-pop shop, this is not right for them.
"A good estimate is it will cost between $150,000 - $200,000 a year to run [a gTLD]. So costly yes, compared to your and my wallets, but for the companies we're talking about - trivial.
"I've yet to run into anybody who I would consider a prospect for this who has a cost objection."
Rebecca Moody, head of planning at advertising agency Euro RSCG, agrees: "It's a no-brainer for John Lewis or for Coca-Cola, for example, both successful big brands who can probably afford dot brand."
Bloggs Bogs may have to settle for registering for a dot category domain - if anyone applies for .toilet that is.
The cost of applying for your own gTLD will probably restrict it to megabrand corporations like Coca Cola When the application period closes, Icann will decide who has a viable bid.
"They're taking the public facing internet, they're slicing chunks off and they're giving them to people to operate," says Mr Callan. "So they want to be confident people can run it correctly."
Where there are multiple qualifying bids, Icann has a set of criteria to decide who wins - in the case of dictionary words for example, open communities trump private ones.
If this process doesn't resolve the situation, then it goes to auction, with the highest bidder winning. The first gTLDs could be live by early 2013.
Return on investmentSo what is pushing companies to buy their own dot brand?
Mr Callan says protecting your trademark is one motive, not only to thwart cybersquatters, but to beat other companies using the same name to it.
"Trademark law allows non-colliding trademarks to exist. If I'm operating in North America and you're operating in Europe and we don't cross over, then we can both have a trademark. But only one of us can have the TLD."
Continue reading the main story dot category: .bank, .music, .shopdot place: .london, .berlin, .nycdot brand: .canon, .hitachi, .unicef, .motorolanon-Roman scripts allowed: Arabic, Chinese etcminimum three charactersno numbers, hyphens or non-letter charactersno country namesno two words that differ slightlyno plurals if singular exists, e.g. bank not bankstrademark holders can block cybersquattersThen, he says, there's the marketing benefit."[Companies] think they can have a better connection between offline marketing and online traffic by having names that are shorter, more memorable, easier to pop out in a marketing campaign."
"For example, laptop.hitachi. Very crisp. Very easy to remember, very easy to communicate."
This includes the benefits a loaded url brings in terms of search engine optimisation (SEO) strategy, a process where sites are built to make them more attractive to search engines.
Security is another draw.
"There are a lot of people who won't do internet shopping because of the security, I think dot brand has a lot of potential there," says Field Fisher Waterhouse's Simon Briskman.
"[It] is going to really help as a seal of authenticity."
Perception is a big deal, according to Dr Jonathan Freeman, senior lecturer in psychology at Goldsmiths, University of London and managing director of i2 media research.
"A lot of this is consumer perception. Reassuring consumers is going to enhance the online behaviours and transactions. They'll feel a lot more happy dealing [with] it."
Despite this, he anticipates consumers will not immediately take to the new naming conventions.
Dr Freeman says finding dot brand sites without having to search could be easier on mobile devices "What people are used to doing is going to be a big determinant in how consumers adopt and use dot brand as it rolls out.
"I'd expect it to take a while to embed in consumer behaviour, especially given the extent to which consumers rely on search engines today."
So where does this leave the brands that cannot afford to be part of the new world order?
"There will inevitably be a new brand ranking system, which in a way I find kind of concerning." says Euro RSCG's Rebecca Moody.
"Do you risk looking like a second rate brand?"
Out of the loopUnderstandably, smaller brands are uneasy.
"What the small businesses and not-for-profits have been complaining about is there's a significant barrier to entry," says Field Fisher Waterhouses's Simon Briskman.
"People are selling off slices of the internet real estate, and they feel they're going to get closed out."
He says subsequent rounds may prove a little cheaper.
Continue reading the main storyIt's just not possible for everyone to get the names that they want in the new dot com space”End Quote Simon Briskman Field Fisher Waterhouse "I think people will start to aggregate the running of these day-to-day, which ought to bring down some cost. I still don't think that it will be accessible to Martha with her boutique in Marylebone."
And the ubiquitous dot com? It's probably safe for some time to come.
"I don't believe anyone is going to be shutting their dot coms in the next five years," says Tim Callan of Melbourne IT DBS.
"But does any of us think we're going to be typing dot com in a hundred years? No."
Simon Briskman is somewhat more tempered.
"The reason dot com will survive is [for example] the Times - there's the Financial Times, the New York Times. It's just not possible for everyone to get the names that they want in the new dot com space."
"If you want a good presence, but maybe not the best presence, if you want someone else to run the infrastructure, you'll probably use dot coms.
"They'll happily co-exist I just don't think they'll have the same power that the dot brand does."
The Book Warehouse saved Notting Hill's Travel Bookshop earlier this month The number of bookshops on UK High Streets is in steady decline, according to The Booksellers Association.Membership of the body, which represents 95% of booksellers in the UK and Ireland, has continued to fall over the last six years.
Since 2006, the total number of members, not including supermarket outlets, has fallen by 20%.
Independent bookshop membership has fallen by over a quarter during the same period.
Chief executive officer Tim Godfray has called for the government and publishers to step in to stop the decline.
"At a time when literacy is an issue and libraries are under threat from government cuts, we need to build a coalition of publishers, government and consumers to provide opportunities for the passionate and creative entrepreneurs who run bookshops on our High Streets to thrive," he said.
In 2006, there were 4495 outlets who held memberships with the Booksellers Association, including 1483 independents.
By June this year, the total number had fallen to 3683, while independents dropped to 1099.
Last year, 50 new independent bookshops opened across the UK but 72 closed, confirming an overall decline for the third year running.
One of the most high profile shops to close this year was The Harbour Bookshop in Dartmouth, founded by the son of Winnie the Pooh author AA Milne in 1951.
In a recent Booksellers Association survey, the top three issues concerning shop owners that the government could address were the cost of rates, parking and planning.
"This is not just an issue for our members; it's also about preserving the retail diversity of our town centres," said Mr Godfray.
The rise of the e-book has also been blamed, an issue which the government can do little about.
Sales of e-books increased by 318% in 2010 and many predict that at least 50% of all books sold within 10 years will be digital downloads.
Book retailers have also faced increasing competition from online retailers.
Spending on printed books fell by 4% in August this year, with sales dropping to a seven-year low for the month, according to sales analysts Neilsen BookScan.
Yet physical non-fiction book sales were up 3% on this time last year, with significant gains for some genres such as cookery and fitness.
New orders for US cars and car parts fell sharply in August Orders for big manufactured goods in the US fell slightly in August after a sharp jump in the previous month, due in part to a fall in demand for cars.Durable goods orders fell by 0.1% to $201.8bn, roughly in line with expectations, after a 4.1% rise in July, the Commerce Department said.
However, plane orders grew strongly for the second month in a row.
The figures come a day after weak housing and consumer confidence data reinforced concerns for the US economy.
On Tuesday, the closely-watched S&P Case Shiller index showed stagnant house prices in July, while the Conference Board's consumer confidence index for September showed no recovery from August's weak level.
'Positive signals'The durable goods figures from the Commerce Department said new orders for motor vehicles and parts fell by 8.5% between July and August.
This was partially offset by a jump of 23% in aircraft orders.
Analysts said the figures were reassuring, given the large jump in total orders in the previous month.
"The marginal slippage in August after a positive July is not enough to suggest trend has turned negative," said David Sloan at IFR Economics.
"In fact the August breakdown contains some positive signals for business investment."
Yahoo is one of the internet's best-known brands Shares in the internet portal firm Yahoo have leapt 10% on rumours that Microsoft is considering a second attempt at a takeover.Microsoft, which last bid in 2008, joins a host of other companies which are considering buying Yahoo, one of the internet's best-known brands.
China's giant internet company Alibaba has already said it might buy Yahoo.
Rumours of a bid from Vodafone also pushed shares in BlackBerry maker, Research in Motion, 12% higher.
Yahoo shares jumped 10.1% to close at $15.92 and Microsoft shares ended 2.2% higher at $25.89.
Yahoo's current market value is $20bn (￡13bn), compared with Microsoft's previous bid of around $45bn.
Neither party has made any official comment.
Microsoft is said to be divided as to whether it would make sense to mount such a bid.
Reasons in favour include the ability to beat AOL as a competitor by creating a stronger web portal.
Market shareMicrosoft already has an agreement with Yahoo involving its Bing internet search engine, which powers Yahoo's search but gives 88% of advertising revenue back to Yahoo.
Combing the two could give Yahoo 30% of the US search market, according to analysts.
According to the latest figures from research firm comScore, Google has 64.8% of the US search market, Yahoo has 16.3% and Microsoft 14.7%.
But Yahoo is seen as lacking in growth potential.
Early last month, Yahoo fired its chief executive in a row over the company's future direction.
It said last month that it had received "inbound interest" from a number of parties.
Sid Parakh, analyst at fund firm McAdams Wright Ragen, told the Reuters news agency: "There are many reasons why this thing probably makes sense.
"If you strip out the variety of assets Yahoo owns, you are pretty much paying nothing for the core business."
Mr Kipling is one of the eight "power brands" the group is investing in Premier Foods, the owner of brands such as Hovis, Bisto and Mr Kipling, has warned its full-year trading profit will fall below expectations.The UK's biggest food manufacturer had been looking at a profit of between ￡214m and ￡232m.
But the company said current trading was "disappointing" and "significantly behind our expectations".
Sales in the third quarter fell 3.6% on a year ago, while the group's market share declined by 1.9%.
The group said it was in "constructive dialogue" with banks on refinancing.
New chief executive Michael Clarke has outlined five key priorities for the business in the short term.
These are agreeing a refinancing plan, improving sales and marketing, reducing the size of Premier's portfolio, reducing costs, and investing in eight "power brands" that they feel have the best growth prospects.
The eight brands are Ambrosia, Batchelor's, Bisto, Hovis, Lloyd Grossman, Mr Kipling, Oxo and Sharwood's.
Mr Clarke, who had previously been president of Kraft Foods Europe, took the helm at Premier Foods on 1 September.
By Rachel Harvey BBC South East Asia Correspondent 
Thailand is the world's largest rice exporter Thailand, the world's biggest rice exporter, introduces a new pricing scheme on Friday.The government says it will boost the incomes of farmers and help alleviate rural poverty.
But critics fear the new policy will skew the market at home and, potentially, globally as well.
The government is offering to buy paddy, or unmilled, rice at 15,000 Thai baht ($482.6; ￡312) per metric tonne, which is a 50% premium on the current market rate.
However, private exporters say the high price will place them at a disadvantage, putting Thailand's dominant global position in jeopardy.
"Private millers, private traders, private exporters will go out of business if the government keeps one price way above the market price for too long," complains Vichai Sripraset, President of Riceland International.
Fixed prices, Mr Vichai says, are too inflexible.
"When the [fixed] price is too low, the producer, the farmer, cannot survive. When it's too high, the consumer cannot stand it. Market forces are better at adjusting to changing circumstances."
Radical changeThe previous government, which lost power in July's election, introduced its own policy for the rice industry - a subsidy programme that compensated farmers if market prices fell below a fixed benchmark.
Under the new system, however, farmers will be encouraged to use rice as collateral against loans from the state-owned bank for agriculture.
Under the new scheme, farmers are not guaranteed a minimum income if their crop underperforms If prices on the open market are higher than the government offer, farmers are free to sell privately.
But if the market price falls, they will have the option of selling at the government fixed price.
One of the fundamental differences between the two schemes is that under the old system, farmers were guaranteed a minimum income based on the amount of rice they normally produced, even if their crop underperformed.
With the introduction of the new government programme, farmers will need harvested paddy rice to sell before they get any money.
Global impactAmmar Siamwalla, senior?economist?at the Thailand Development Research Institute, says the short term impact on the global market will depend on how much of the government-bought rice it decides to store and how much it exports.
"If they put it in storage, it means that much rice is taken away from the world market which we used to export [to], and I expect a substantial amount will be put in storage.
"That will effect international prices because there will be less rice in world markets."
Continue reading the main storyWe have a dominant share in high quality rice and we're going to lose it”End Quote Ammar Siamwalla Thailand Development Research Institute If the government does decide to store large quantities of rice, it could be good news for owners of private warehouses.
But it would also be an additional cost to the Thai taxpayer.
It also raises fears that the government might be tempted to dump large quantities of rice on the market as the price moves up, and before the rice spoils, forcing a sudden correction.
An alternative scenario would see the Thai authorities trying to control supply by discouraging increases in production.
But that could hurt the very farmers the new policy is designed to help.
The government argues that any shortfall in production will be offset by the higher price.
Thailand currently supplies about a third of global rice exports, which means decisions made in Bangkok can have far reaching implications.
The US Famine Early Warning Systems Network says a recent spike in global prices can, in part, be explained by the market anticipating the Thai government's new scheme.
Other exporters, the FEWSN says, are poised to take advantage.
India has just lifted an export ban on rice other than basmati and is thought to have a surplus of 15 million metric tonnes ready for market (another 10 million is being held back for food security).
Critics say the new policy will skew the market at home and globally Mr Ammar, a prominent critic of the new scheme, is less worried about the quantity of rice Thailand exports than he is about reputation.
"Thai rice in the marketplace is known for its high quality. Only the private sector can make distinctions and pay everybody along the supply chain according to quality. We have a dominant share in that [high quality rice market] and we're going to lose it."
The government is determined to press ahead, describing the new rice pricing scheme as one of its most important policies.
The ultimate test will be whether rice farmers like the new arrangement.
An unscientific survey of a handful of farmers contacted by the BBC suggested a good deal of confusion, along with a feeling that the new price plan is coming into effect too late to be of benefit.
"We have lots of debts so we have to sell the rice as soon as it's harvested, even though we know that if we wait we can make more money under the new scheme," said one.
Another added forlornly: "With so many rice fields flooded right now, farmers are not going to have rice to sell."
Damian Collins is part of the Commons committee looking into how football is run A Conservative MP has written to Sports Minister Hugh Robertson expressing concern about the ownership of Coventry City Football Club.Damian Collins, who is part of a Commons committee looking into how football in England is run, wants to know more about owners Sisu Capital.
"In the case of Coventry City it didn't seem to be clear who the ultimate owners of the club were," he said.
A spokesperson for Sisu said the club is managed by private equity ownership.
Coventry's current owners have been in place since 2007 but there has been unrest, and changes were made at boardroom level this year.
The most notable of these was the departure of chairman Ray Ranson who had been integral to the takeover.
Mr Collins, who sits on the Commons' Culture Media and Sport Committee, told BBC Coventry & Warwickshire he was worried that it was not clear who is in charge of the Championship outfit.
"I took this up with the Football League to ask them and they confirmed to me that because no individual investor owned more than 10% of the club they didn't know who any investors in the club were," the Folkestone and Hythe MP said."I thought that was very unsatisfactory.
"We're constantly reassured that there are proper rules in place that govern who can own and invest in football clubs, what their background is, whether they have a stake or interest in other football clubs.
"To be able to apply those rules we've got to know who those investors are.
"One of the reasons these rules are in place on club ownership is to make sure there aren't conflicts of interest with people who've got stakes in different football clubs.
'Not anonymous'"It's important from an integrity of competition point of view. It's also important in terms of the fans.
"When a club gets into financial difficulties it's the fans that suffer and it's also local businesses that are owed money by that football club that suffer.
"If the Football League and the Premier League were to turn around to Coventry and say, 'it's not good enough, you've got to have a declared owner of the club otherwise we won't let you play', I think you'd see a change."
Coventry City have declined to respond to Mr Collins' comments but have stood by quotes attributed to director Onye Igwe that appeared on The Guardian's website on Tuesday.
Mr Igwe told the publication: "We are not being anonymous. I am the fund's manager and a partner in Sisu, that is public."
He added that the funds for the club came from professional investors of various nationalities who wanted confidentiality, which was "normal practice in private equity".
Shares in Royal Bank of Scotland have opened sharply down following the downgrade Moody's has downgraded the credit rating of 12 UK financial firms including Lloyds, RBS, Nationwide, and Santander.Moody's said it now believed the UK government was less likely to support some firms if they got into trouble.
However, the firm emphasised that the downgrades did not "reflect a deterioration in the financial strength of the banking system".
The news sent bank shares lower, with RBS 3.8% off and Lloyds 3.36% down.
The BBC has been asking how the crisis has been affecting you personally.
Here are some of your stories.
It sucks. I am 20 years old. I graduated from high school in 2009 and just wanted to start working.
Two years later I still don't have a job. I've mostly been looking for simple retail work. The number of jobs I've applied for must be in the hundreds, and I have had only one interview.
I haven't applied for any benefits because I've been told I'm not eligible as I haven't had a job before.
I live with my parents and my brother. I have taken a couple of college classes but I find it rather soul-crushing, and there doesn't seem to be any light, or indeed, an end, to the tunnel.
Philip Petersen, chief executive of AdInfa, says "The situation is tough but it presents opportunities"I run a small software company. Our software helps people who run computer data centres save money by monitoring and managing their data usage.
I see the current economic situation as an opportunity. I believe the market demand for our kind of product is growing because organisations are much concerned about their operating costs, and energy is a growing item of expenditure.
The current economic situation, or that which has prevailed for the last couple of years, has definitely increased awareness of this issue.
However, one difficulty we are contending with is investment. Raising money for an early stage technology business, particularly if you are not in consumer, e-commerce, mobile or social networking, is plain hard and that is something we are contending with.
I run a home-made ice cream business on the seafront in Paros, but business has been horrible lately and I am closing my shop.We rely on tourism - Greek tourists in particular - and there just aren't any.
I will close my books at the end of October. I've got about 90,000 euros' (￡78,000) worth of equipment but I probably won't be able to sell everything as everyone here is trying to sell.
When I told the local children that I was closing, they were so upset and burst into tears as they love the shop.
I am now going to do an online master's [degree]. I've made my budget for the next eight to 10 months, and will have to survive on 600-700 euros a month.
We are an Indian-based international distributor of books, DVDs, software and electronics.
Before the downturn, we were able to secure credit from our suppliers, but now we have to meet the condition of advance payment to fulfil our orders.
We are a registered company in India and the US. But Indian banks will not lend to us because of the uncertainty in US markets, and currently US banks are not lending at all.
To compound it all, even other lending companies and bill-discounting companies will not lend to us due to uncertainty in the mail order retail industry.
This has not only impacted on our performance - some of our orders are pending due to lack of funds and sometimes they are cancelled because of late delivery - but we have also had to put our expansion plans on hold.
I work as a hotel receptionist. I'm still being affected by the economy right now.
If you look at the cost of sugar now in Kenya and compare it with [what the] common mwananchi [man] earns, it is not fair at all.
Also house rents are very high, especially for people like me with no parents and no wife.
I lost my wife in July 2011. I have three children and I'm facing big problems. My wish is for the government to take action.
David Cameron warns that the UK cannot shield itself from the crisis in the eurozone Prime Minister David Cameron has warned that it would be "very bad" for the UK if the eurozone was to break up.Speaking to the BBC's Andrew Marr Show, he said the debt crisis in the eurozone was "a threat not just to itself, but also a threat to the UK economy, and a threat to the world economy".
He reiterated that eurozone leaders had to take quick and decisive action.
Mr Cameron said that, as 40% of UK exports went to the eurozone, it could not shield itself from the problem.
The prime minister said the UK government had "a very clear view" of what needed to be done, and that it was pushing this with its partners in Europe and the International Monetary Fund (IMF).
He said eurozone leaders had to strengthen the region's financial mechanisms, ensure the greater involvement of the IMF, and deal decisively with the high levels of sovereign debt.
Mr Cameron added: "Action needs to be taken in the next coming weeks to strengthen Europe's banks, to build the defences that the eurozone has, to deal with the problems of debts decisively."
He said these emergency measures were needed before any long-term plans of more economic coordination across the eurozone were introduced, such as a single tax system.
Greek fearsEuropean stock markets again fell heavily on Friday due to concerns about the debt crisis in the eurozone.
Continue reading the main story Use the dropdown for easy-to-understand explanations of key financial terms:AAA-rating GO The best credit rating that can be given to a borrower's debts, indicating that the risk of borrowing defaulting is miniscule.It meant that for the three months from July to September, the main UK share index, the FTSE 100, recorded its biggest quarterly fall since 2002.The concerns centre on Greece, the most indebted eurozone nation.
Greece needs its next 8bn euros (￡6.9bn; $10.9bn) instalment of European Union (EU) and International Monetary Fund (IMF) bailout loans by the middle of this month to be able to continue paying its civil servants and teachers.
This tranche was delayed in September after EU, IMF and European Central Bank officials said the Greek government was not carrying out sufficient austerity measures.
The wider fear is that Greece will ultimately default on its debt payments, and of the knock-on effect this would have on banks across Europe which own Greek government bonds.
Some commentators also warn that Greece may ultimately have to leave the eurozone, plunging the region's economic and political systems into chaos.
Eurozone leaders and the IMF are now continuing to work on a solution to the debt crisis, with French President Nicolas Sarkozy and German Chancellor Angela Merkel due to speak again this week.
Karen Murphy had to pay nearly ￡8,000 in fines and costs for using a cheaper Greek decoder in her Portsmouth pub to bypass controls over match screening.
But she took her case to the European Court of Justice.
The ECJ now says national laws which prohibit the import, sale or use of foreign decoder cards are contrary to the freedom to provide services.
'Relief'It said national legislation, which banned the use of overseas decoders, could not "be justified either in light of the objective of protecting intellectual property rights or by the objective of encouraging the public to attend football stadiums".
"She's overwhelmed with relief at the moment," Mrs Murphy's lawyer, Paul Dixon, told BBC Radio Solent.
"It's been a long road for her but she's delighted to be getting the case back to the High Court now in London where it will be finalised, before very long we hope.
"It will mean increased competition in the broadcast market that's for sure."
The ECJ findings will now go to the High Court in London, which had sent the matter to the ECJ for guidance, for a final ruling.
However, it is unusual for a member state High Court to pass a different judgment to one provided by the ECJ.
'Contingency plans'The decision could trigger a major shake-up for the Premier League and its current exclusive agreements with Sky Sports and ESPN, and pave the way to cheaper viewing for fans of top-flight English games.
"In practical terms, the Premier League will now have to decide how it wishes to re-tender its rights," said sports media lawyer Daniel Geey of Field Fisher Waterhouse solicitors.
Continue reading the main storyOn the face of it, it looks like a blow for the Premier League and... broadcasters Sky and ESPN”End Quote David Bond BBC sport editor "There can be little doubt it will have contingency plans ready to go and has various options available.
"Be it a pan-EU tender, selling in only certain EU member states or devising a plan to start its own channel, they will be deciding how best to maximise the value of their product to ensure any revenue shortfall is minimised."
The judges said the Premier League could not claim copyright over Premier League matches as they could not considered to be an author's own "intellectual creation" and, therefore, to be "works" for the purposes of EU copyright law.
However, the ECJ did add that while live matches were not protected by copyright, any surrounding media, such as any opening video sequence, the Premier League anthem, pre-recorded films showing highlights of recent Premier League matches and various graphics, were "works" protected by copyright.
To use any of these parts of a broadcast, a pub would need the permission of the Premier League.
'Major blow'"On the face of it, it looks like a blow for the Premier League and... broadcasters Sky and ESPN," said BBC sport editor David Bond.
He said the Premier League had faced many regulatory challenges in the past and would find ways to get round the new situation.
Karen Murphy used the Greek firm Nova to show Premier League games Sky has pumped billions into top flight English football since the league was founded in 1992, with the money given to clubs allowing them to buy some of the top names in the world.
Our correspondent said that would not necessarily change, given the huge value of other deals.
The Premier League's television income from mainland Europe is about ￡130m, less than 10% of their total ￡1.4bn overseas rights deal.
But he warned that it could have significant repercussions for other rights holders outside of sport, with life potentially getting more difficult for the film industry, which also sells its product on an country-by-country basis.
Satellite signalsThe legal battle kicked off six years ago, when Ms Murphy was taken to court for using the Nova firm to show matches at the Red, White and Blue pub.
Using the Greek service, she had paid ￡118 a month, rather than ￡480 a month with the official broadcaster.
Licensed broadcasters encrypt satellite signals, with subscribers needing a decoder card to access them.
Ms Murphy took advantage of an offer to UK pubs to use imported cards.
In February, an ECJ advocate general said this was in line with the aims of the EU single market - a border-free zone for goods and services.
The Premier League has already taken action against two suppliers of foreign satellite equipment and a group of pub landlords who used imported decoding equipment to show English Premier League games and avoided the commercial premises subscription fees for Sky.
