BP Gas Site: Brits Caught Up In Hostage Drama

"Several" British nationals are caught up in a terrorist attack at a gas field in Algeria where workers have been taken hostage.

An Islamist militant group has claimed to have kidnapped up to 41 foreign nationals - including seven Americans and an Irishman in a dawn raid on the gas facility part-operated by BP, Sonatrach (the Algerian national oil company), and Statoil in Algeria.

Three people have reportedly been killed in the attack on the plant situated in the east of the country near the Libyan border.

Prime Minister David Cameron chaired a 45-minute meeting of the Government's crisis committee Cobra on the attack, attended by ministers from the Foreign Office and Ministry of Defence, as well as officials from other agencies.

His official spokesman said afterwards:  "The ongoing incident has involved various nationalities, including several British nationals.

"We are working with BP to support the families of staff and provide consular assistance."

Mr Cameron is also expected to speak to Algerian Prime Minister Abdelmalek Sellal about the attack, later.

A Foreign Office spokeswoman said: "We can confirm that British nationals are caught up in a terrorist incident ongoing near the town of In Amenas at an oil installation near the Algerian border with Libya.

The In Amenas field (courtesy BP.com)

"The British embassy in Algiers is liaising with local authorities."

The Foreign Office said it is working with BP to support the families of those involved.

BP is yet to confirm a link to reports that Islamist militants, said to be connected to al Qaeda, had seized a number of people in an attack that had a possible revenge motive for French military action in Mali.

It said in a statement that the site was "attacked and occupied by a group of unidentified armed people," and that some personnel are believed to be "held by the occupiers".

The company said it was seeking information as to whether any staff or contractors had been injured - and the identities and intentions of the people occupying the site.

It added it was contacting relatives of workers on the site.

A French citizen was killed, according to the AP news agency, which quoted an Algerian security official.

He suggested the attack on the base, about 60 miles from the Libyan border, came at 2am and the militants involved came from Mali.

The plant is situated in In Almenas, in eastern Algeria

The official claimed that the Algerian army had since surrounded the militants and their hostages and negotiations had started.

In its statement BP said: "We can confirm that there has been a security incident this morning at the In Amenas gas field in the eastern central region of Algeria.

"The In Amenas field is operated by a joint venture of which BP is a member. Algerian authorities are engaged with the incident; UK authorities have also been advised.

"BP has activated its emergency response system and is setting up a helpline for relatives."

The company did not say whether foreigners were taken away from the facility.

Ireland's Department of Foreign Affairs (DPA) confirmed a 36-year-old married man from Northern Ireland, travelling on an Irish passport, was among those taken.

It is understood that Japanese, Norwegian and French nationals were also part of the group.

Ireland's Deputy Prime Minister Eamon Gilmore called for the Irishman's immediate release.

He said: "The Government stands ready to use all the resources available to us to ensure that our citizen is released as soon as possible.

"I would ask that the family be allowed privacy at this difficult time."

The country's Department of Foreign Affairs added it was providing consular assistance to the family and was in close contact with its international partners and a wide range of other contacts in order to establish the facts of the situation.

A spokesman said: "At this stage, the identity and motives of the kidnappers is unknown."

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Boeing Dreamliners Grounded By Japan Airlines

Boeing 787 Dreamliner Timeline

Updated: 4:05am UK, Wednesday 16 January 2013

The turbulent history of the Boeing 787 Dreamliner:

Jan 16, 2013: Japan Air Lines Co Ltd (JAL) follows suit and suspends Dreamliner flights from Japan over safety concerns

Jan 16, 2013: ANA grounds all 17 of its 787s after four of its aircraft suffer problems

Jan 16, 2013: ANA 787 Dreamliner makes emergency landing in Takamatsu, Japan, after smoke appears in cabin

Jan 11, 2013: The Federal Aviation Authority announces a review of the 787 design and systems

Jan 11, 2013: All Nippon Airways (ANA) discovers engine oil leak after a domestic flight lands at Miyazaki

Jan 11, 2013: A separate ANA flight to Matsuyama reported a crack appearing in the pilot's window

Jan 9, 2013: ANA cancels a Boeing 787 Dreamliner flight due to a brake problem

Jan 8, 2013: Japan Air Lines (JAL) grounds a jet at Boston Logan International Airport after a 787 leaks 150 litres of fuel

Jan 7, 2013: A fire erupts in a battery pack in another JAL Dreamliner at Boston

Dec 13, 2012: Qatar Airways grounds one of its Dreamliners because of a faulty generator

Dec 5, 2012: The Federal Aviation Administration orders inspections of all 787 Dreamliners in service in the US

Dec 4, 2012: A United Airlines 787 is forced to make an emergency landing in New Orleans after a generator fails

July 23, 2012: ANA grounds five Dreamliners due to an engine component issue

February 22, 2012: Boeing says around 55 Dreamliners may be affected by a flaw in the fuselage

October 26, 2011: The Dreamliner makes its maiden flight with paying passengers on board an ANA jet

September 26, 2011: Boeing delivers its first 787 Dreamliner to Japan's ANA, three years late

June 23, 2010: Boeing postpones the first flight of the Dreamliner because of a structural flaw

December 15, 2009: The passenger jet 787 Dreamliner takes off on its maiden test flight

April 9, 2008: Boeing says there will be a revised plan for the first 787 flight and initial deliveries

December 11, 2008: Boeing announces further delays due to strike action by machinists Sept-Nov

October 19, 2007: Boeing says there will be a six-month delay to deliveries due to assembly issues

July 8, 2007: The first assembled 787 goes on display to media, employees and customers

July 18, 2006: Boeing says it is making "solid progress" on the 787 Dreamliner programme

January 28, 2005: Boeing gives its new commercial airplane an official model designation number - 787

January 29, 2003: Boeing announces the launch of a new aircraft called the 7E7

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Horsemeat In Burgers: Tesco Removes Product

Tesco, along with a number of other supermarkets, has removed certain brands of frozen beefburgers from its shelves in the UK and Ireland after they were found to contain horsemeat.

A study examining the authenticity of a number of beefburger, beef meal and salami products available from retail outlets in Ireland found horsemeat accounted for approximately 29% of the content in one sample of Tesco Everyday Value Beef Burgers.

Tests on beef products sold in Lidl, Aldi, Iceland and Dunnes Stores uncovered low levels of horse DNA.

Authorities have said there is no threat to public health, but the issue is one of consumer confidence and shoppers being able to trust that what they are eating is what was stated on the label.

Tim Smith, group technical director at Tesco, said: "We immediately withdrew from sale all products from the supplier in question.

"We are working with the authorities in Ireland and the UK, and with the supplier concerned, to urgently understand how this has happened and how to ensure it does not happen again.

"We will not take any products from this site until the conclusion and satisfactory resolution of an investigation.

"We understand that many of our customers will be concerned by this news, and we apologise sincerely for any distress."

The Food Safety Authority of Ireland (FSAI) tested for the presence of horse and pig DNA.

Tesco was among the supermarkets found to have sold the affected burgers

A total of 27 beefburger products were analysed, with 10 (37%) testing positive for horse DNA and 23 (85%) testing positive for pig DNA.

Some 31 beef meal products including cottage pie, beef curry pie and lasagne were also analysed. Twenty-one were found to have pig DNA, while all were negative for horse DNA.

All 19 salami products analysed tested negative for horse DNA, but traces were detected in batches of raw ingredients including some imported from The Netherlands and Spain.

The beefburger products which tested positive for horse DNA were produced by two processing plants in Ireland, Liffey Meats and Silvercrest Foods, and one in the UK, Dalepak Hambleton.

They were on sale in Tesco, Dunnes Stores, Lidl, Aldi and Iceland. In nine of the 10 beefburger samples from these retailers, horse DNA was found at low levels.

The tests found horse DNA in the following products: Tesco Everyday Value Beef Burgers 29.1%, Tesco Beef Quarter Pounders 0.1%, Oakhurst Beef Burgers in Aldi 0.3%, Moordale Quarter Pounders in Lidl 0.1%, Flamehouse Chargrilled Quarter Pounders in Dunnes Stores 0.1%, and two varieties of Iceland Quarter Pounders 0.1%.

Even lower levels were recorded in Moordale Beef Burgers in Lidl and St Bernard Beef Burgers in Dunnes Stores.

Sky's Health and Science Correspondent Thomas Moore said: "These days, meat is traded around Europe. There is a suggestion that this horse meat didn't actually come from Britain or Ireland and it may well have been imported from Spain or Holland.

"In some parts of the continent, horse meat is eaten and is perfectly normal."

The FSAI said it was working with the Department of Agriculture, Food and the Marine, as well as the processing plants and retailers involved.

It said the retailers had pledged to remove all implicated batches from their shelves immediately. In addition, Silvercrest Foods was withdrawing all products from sale and replacing them with new ones.

Aldi said it was conducting its own investigation. "We have sought information from one supplier, Silvercrest, which is dealing directly with the FSAI on the issue that has been raised," it said.

Lidl said it had taken the decision to remove all implicated products from sale pending a full investigation.

"A refund will be provided to customers who wish to return affected products," a spokesman said.

Professor Alan Reilly, the chief executive of the FSAI, said although consumers need not worry, the findings did raise a number of concerns.

He said: "The products we have identified as containing horse DNA and/or pig DNA do not pose any food safety risk and consumers should not be worried. Consumers who have purchased any of the implicated products can return them to their retailer.

"Whilst there is a plausible explanation for the presence of pig DNA in these products due to the fact that meat from different animals is processed in the same meat plants, there is no clear explanation at this time for the presence of horse DNA in products emanating from meat plants that do not use horse meat in their production process.

"In Ireland, it is not in our culture to eat horse meat, and therefore we do not expect to find it in a burger. Likewise, for some religious groups or people who abstain from eating pig meat, the presence of traces of pig DNA is unacceptable."

:: The FSAI operates an advice line on 1890 33 66 77 from 9am-5pm.

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HMV Collapse: Early Interest In Retailer

The administrator for collapsed HMV has already had "very positive" expressions of interest in the entertainment retailer.

Deloitte, which was formally appointed on Tuesday evening, told Sky News a few parties had made contact in the wake of the chain's demise.

While all 223 UK stores are still trading, the administrator confirmed its review of the business was continuing and there was no prospect of the company's decision to stop accepting gift cards or vouchers being overturned.

However the "blue cross sale", which began last weekend, would remain in place.

In its initial statement last night confirming it was now running HMV, Deloitte said it was actively seeking a buyer.

Joint administrator Nick Edwards said: "HMV is an iconic retailer and continues to be a very popular brand, but as we have seen with many high street retailers, the market is changing rapidly and conditions are currently very tough.

HMV's 'blue cross sale' will continue in stores across the UK

"Following our appointment, we are working closely with management and staff to stabilise the business in order to continue trading whilst actively seeking a purchaser for the business and assets.

"We appreciate the cooperation and support from the staff, customers, suppliers and landlords at what is clearly a difficult time."

HMV employs 4,123 staff and analysts say it is inevitable that some will lose jobs, even if the chain is bought out.

The retailer had long been criticised for an over-exposure to the high street and its late move into online trading. The consumer spending squeeze only exacerbated the shift in shopping habits and it missed the terms of its bank loans as a result.

Nevertheless Trevor Moore, the group's chief executive, told Sky News on Tuesday afternoon that he was "absolutely confident" about the future of HMV but added: "It does require a number of significant changes in the business, and those changes we're very clear about."

He said: "We would hope to find a prospective buyer that could work with us to enable me to deliver those changes and ensure that HMV - which is one of the consumer's 10 most favourite stores in the UK, remains on the high streets that we operate in."

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Car Crisis: Demand Crashes Across Europe

European car registrations fell by over 8% in 2012 according to official figures, as the crisis for carmakers shows no sign of slowing.

Over the last year, demand for new vehicles reached its lowest level recorded since 1995, with sales falling in most major markets.

A total of just over 12 million units were registered in 2012, the European automotive industry association ACEA said.

In December, new car sales declined by 16% in the European Union - the steepest monthly slip since 2008.

Two fewer working days on average helped send registrations tumbling by over 14% in France, 16% in Germany and more than 20% in both Italy and Spain.

Greece - where the eurozone's debt crisis originated - saw one of the steepest falls in new car sales at 33%.

It comes as tough austerity measures and record-high jobless figures in the eurozone hit consumers' ability to purchase new cars.

The UK continued to be the only significant market to see an increase in new car sales, which were up by 3.7% last month.

Recently released figures showed car registrations in Britain were at a four-year high in 2012 - but still around 50% below pre-financial crash volumes.

Carmakers worst hit by last month's slump were the General Motors and Ford, which both saw sales fall around 27%.

But Korea's Hyundai and Kia - which offer affordable cars with long warranties - reported an increase in registrations of 10.5% and 6.8% respectively.

French company Renault saw a slump of 19% a day after it announced plans to cut 7,500 jobs by 2016.

The redundancies - which the carmaker said was in response to falling demand - make up 14% of Renault's French staff.

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Smartphones Could Become UK's New Credit Cards

Most Britons will be able to pay for items using their mobile phone next year.

Banks and financial institutions representing 90% of current accounts have agreed to launch the UK's first industry-wide mobile payment service in spring 2014.

Using a process similar to texting, people will be able to sign up to send and receive payments using their own number.

It will be done without the need to disclose their bank account details.

The Payments Council, the industry body that is leading the project, said using mobiles to buy goods and services, as well as send money to friends and family, would become a mainstream option due to the popularity of the plan among banks.

Shopaholics will soon be able to leave their cash and cards at home

Eight financial institutions have already committed themselves to offering the service, and discussions are under way for others to join.

The council pointed out that while there are existing ways to pay using a mobile, the project is the first to have the potential to link every bank account in the country with a mobile number.

Chief executive Adrian Kamellard said: "This new service will offer a simple, secure way to split a bill for dinner, receive money from a friend or pay a tradesman without needing to remember or share account details."

Before the service launches, the financial institutions involved will invite customers to register via their online banking service, mobile app or other approved method.

The Payments Council said more details about the industry-wide registration process and the precise launch date would be announced later.

More than 5,000 consumers took part in Payments Council research, which revealed the service is likely to prove most popular with smartphone users, who accounted for 67% of those surveyed.

One in three smartphone users said they were either "definitely" or "extremely likely" to sign up to the new service when it launches.

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Duke Street Plots Original Factory Shop Sale

By Mark Kleinman, City Editor

The Original Factory Shop, one of Britain's largest discount retailers, is being groomed for a sale as the beleaguered sector braces for another year of prominent high street bankruptcies.

I have learned that Duke Street Capital, the private equity firm which has owned The Original Factory Shop for nearly six years, has begun sounding out prospective City advisers about a sale process that could value the chain at more than £100m.

People close to Duke Street said that it had no plans to sell the retailer this year but confirmed that the buyout firm was in talks to appoint an adviser to oversee an auction of the chain, which sells brands such as Adidas, Philips and Tefal at discounted prices.

The Original Factory Shop, which was established in 1969, operates from more than 180 outlets, according to its website.

It last changed hands in 2007, when Duke Street acquired the company for £68.5m from the private equity arm of Barclays.

The company is now run by Angela Spindler, a former managing director of Debenhams, who has broadened the chain's product mix. The Original Factory Shop sells clothing, footwear, cosmetics and fragrance, fashion accessories, electrical goods, housewares, home furnishings and toys.

Duke Street declined to comment.

News of the planned sale process comes just days after two larger retailers Jessops and HMV, called in administrators having failed to transform their businesses in the face of tough competition from internet rivals.

Deloitte, the accountancy firm which handled the administration of Woolworths, will spend the next few weeks seeking a buyer for HMV. Distressed retail specialists such as Endless and Hilco will examine bids, as well as mainstream private equity investors such as Oakley Capital, which owns the listings magazine Time Out.

HMV's collapse into administration means that its estimated £60m pension deficit will now be transferred to the custody of the Pension Protection Fund.

HMV is unlikely to be the last casualty of a poor trading environment on the high street. Begbies Traynor, the professional services firm, said yesterday that 140 retailers were on its "critical watchlist".

The demise of HMV is also expected to mean that shop vacancies on British high streets soar to a level not seen for many years.

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Brent Pipeline Shut After North Sea Oil Leak

The Brent pipeline network in the North Sea, which services up to 27 oil fields, has been closed temporarily.

The shutdown followed the detection of a leak on the Cormorant Alpha platform off Shetland, which handles around 90,000 barrels per day of crude oil.

Workers have been airlifted off the rig as the leak is investigated, the platform's operator Abu Dhabi National Energy Company (TAQA) said.

Eight other platforms in the area have been closed as a result of the incident.

Industry body Oil & Gas UK said the affected pipelines transport a significant amount of the UK's oil.

"We estimate that oil usually produced from the fields that are currently shut down across the Brent Pipeline System accounts for about ten per cent of UK oil production," economics director Mike Tholen said.

"We have offered support to TAQA Bratani during the incident and await more information on how long the shutdown is likely to last."

A company statement said: "TAQA can confirm that an indication of hydrocarbons was detected in one of the legs of the Cormorant Alpha platform in the northern UK North Sea.

"Since the discovery, hydrocarbon levels have been continually monitored.

"The platform and all pipeline infrastructure have been shut down as a precaution."

It stressed that none of the hydrocarbons found on the legs of the rig, which is 94 miles from Lerwick, had been released into the environment.

Energy analyst Neil Atkinson from Datamonior said the closure was unlikely to affect oil prices if it reopened soon.

"The only real significance of this event is how long it lasts for," he told Sky News.

"If it's only closed for a couple of days it is unlikely to affect the market - the UK has plenty of stock elsewhere.

"It becomes as issue if the pipeline network remains shutdown for a significant amount of time - ten days for example - and refining operations are curtailed because of a lack of crude oil."

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City Grandees Join Forces For New Firm

By Mark Kleinman, City Editor

Two of the City's most prominent corporate advisers are joining forces in a move that highlights the growing number of senior bankers choosing to ply their trade outside the world's biggest banks.

I understand that Simon Robey, who until this week headed the UK operation of Morgan Stanley, the Wall Street giant, is going into partnership with Sir Simon Robertson, the grandee who chairs Rolls-Royce, the aerospace group.

The formation of Robertson Robey Associates LLP will, I understand, be confirmed in a statement due later.

The new firm will not focus specifically on mergers and other transactions but offer a broad array of corporate advice similar to that provided by Sir Simon's own firm in recent years.

The news underlines a growing trend for seasoned corporate dealmakers to leave so-called "bulge bracket" banks in the wake of the financial crisis, which has seen many large financial institutions substantially shrink their corporate advisory businesses.

Many senior bankers privately complain that they are unable to offer unfettered advice to clients because of pressure from elsewhere in their banks to sell other products to major companies.

However, some of the new breed of "boutique" advisory firms have found life tough because of the dearth of mergers and stock market listings in recent times.

Mr Robey, who had spent 25 years at Morgan Stanley, advised on many of the biggest takeovers involving British companies during that period.

He worked on last year's aborted merger talks between BAE Systems, the defence contractor, and European counterpart EADS, has been a key adviser to Royal Bank of Scotland since its rescue by British taxpayers, and helped steer BP through the aftermath of the Gulf of Mexico oil spill in 2010.

Mr Robey is also chairman of the Royal Opera House, for which he is recruiting a new chief executive following the departure of Tony Hall to become director-general of the BBC.

Sir Simon, who is expected to step down as chairman of Rolls-Royce at this year's annual meeting, is a former partner at Goldman Sachs. He is also deputy chairman of HSBC and a non-executive director of The Economist's parent company.

Robertson Robey Associates is expected to advise a limited number of major international companies and is expected to limit its work, at least initially, to a small number of companies in each industry sector

A spokeswoman for the firm declined to comment.

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Blockbuster Collapses: 4,200 Jobs At Risk

By Mark Kleinman, City Editor

The crisis on Britain's high streets is continuing after Blockbuster UK, the DVD rental chain, called in administrators in a move which puts more than 4,000 jobs at risk.

Blockbuster UK has appointed the accountancy firm Deloitte to handle an insolvency process less than 48 hours after it was hired to oversee the administration of HMV, the entertainment retailer.

The move was confirmed following a report by Sky News.

The spate of administrations threatens to make this one of the grimmest periods in the history of the high street as retailers face up to the prospect that they can no longer compete with digital competitors.

Blockbuster has been especially hurt by the growth of online film rental companies such as Lovefilm. A plan for Blockbuster to offer its own version of a film-streaming service appeared to stall in recent months.

Blockbuster UK, which is headquartered in Uxbridge, employs almost 4,200 staff and operates from 528 stores.

Blockbuster stores rent out DVDs and games, and offer an exchange service

Its parent company, Blockbuster LLC in the US, is owned by The Dish Network, a US telecoms and media group which is headed by Charlie Ergen, a billionaire businessman.

Lee Manning, a partner at Deloitte, said: "In recent years Blockbuster has faced increased competition from internet-based providers along with the shift to digital streaming of movies and games.

"We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

"The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.

"During this time gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods."

A spokesman for the administrator said the company's pension scheme was fully funded and gift-cards would be honoured at Blockbuster stores.

The recent flurry of retail collapses threatens to remove some of the famous names on British high streets.

If buyers cannot be found for HMV and Blockbuster, they will join the likes of Jessops, JJB Sports, Clintons Cards and Comet, which have all been forced to call in administrators.

The fact that the collapses of Blockbuster, HMV and Jessops have happened within just a few days of each other - with the potential combined loss of more than 10,000 jobs - also threatens to escalate the crisis into a broader political issue.

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