Peugeot Citroen in Spain recall more than 2,000 cars due to a potential fault with the accelerator pedal in the Peugeot 107 and Citroen C1 models. The company will do a free update. PSA Peugeot Citroen has today called for a review in Spain of 1400 units of Peugeot 107 model and about 700 of the Citroen C1, to undertake a free review of the accelerator pedal, reported the Spanish subsidiaries of both brands. This recall is similar to that detected by Toyota for eight models of its brand, including the Aygo city, which is produced jointly with the two models now involved in the French automotive group. The same sources have indicated that they have begun to send letters to customers involved and added that the detected fault is unlikely to be in all the cars recalled. via Peugeot Citroen in Spain recall more than 2,000 cars accelerator pedal .

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Peugeot Citroen in Spain recall more than 2,000 cars

A british builder has been arrested over his alleged role in a suspected £52million property fraud in Spain. Trevor Bourne, 50, was held after 300 illegally built villas costing up to £1.1million were sold to British expats on the Costa Brava. Mr Bourne, along with 15 others, is being investigated by a judge on suspicion of bribery and fraud. Investigators allege he paid backhanders to town hall officials, who then allowed him to build and sell properties on protected land. Mr Bourne, of Port Talbot, Glamorgan, appeared in court in Denia, near Alicante, after his arrest by the Civil Guard. After giving a statement to the judge, he was released on bail. The detached houses were all put up around the village of Lliber between 1999 and 2003. Buyers were unaware they had been built on protected rural land. Many included pensioners who now face the threat of their dream homes in the sun being demolished. via BRIT IN FRAUD PROBE – mirror.co.uk .

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British Builder in Fraud Probe

Summary: Magnitude ML 3.0 Region BALEARIC ISLANDS, SPAIN Date time 2010-01-30 at 07:09:33.3 UTC Location 39.43 N ; 2.50 E Depth 40 km Distances 20 km SW Palma (pop 373,731 ; local time 08:09 2010-01-30) 16 km S Calvià (pop 43,166 ; local time 08:09 2010-01-30) EMSC – European-Mediterranean Seismological Centre .

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Earthquake – Balearic Islands

The European Commission (EC) has approved a Spanish recapitalization scheme for banks aimed at enhancing the strength and solvency of credit institutions so that they are able to provide credit normally and that confidence in the national financial system can be maintained. Reportedly, after a decade long boom, nearly 50 unlisted Spanish savings banks had failed due to the slump in the nation´s property sector. The Commission found the scheme to be in line with its guidance communications on state aid to overcome the financial crisis. In particular, the measures approved are limited in time and scope, require market-oriented remuneration and contain enough incentives to redeem the state participation over time. In order to benefit from the scheme, beneficiaries will need to draw up an integration plan, setting out the specific measures and commitments to be implemented in order to achieve an increase of efficiency and solvability. This plan will have to be approved by the Bank of Spain before it is presented to the The Fund for Orderly Bank Restructuring (FROB). Before each individual bank recapitalization, the FROB will communicate to the EC the results of an assessment of the beneficiary´s risk profile by the Bank of Spain. This will enable the EC to assess the situation in turn and to indicate the necessary follow-up, such as the need to provide a restructuring plan, to pay an adequate remuneration on the convertible preference shares or the need for a ban on coupon payments on hybrid instruments. Neelie Kroes, commissioner, said: “The Spanish recapitalization scheme will strengthen confidence in the Spanish banking system and, above all, encourage lending to the real economy. At the same time, the scheme establishes sufficient safeguards to limit disproportionate distortions of competition.” FROB was created to manage the restructuring processes of credit institutions and assist in the enhancement of their equity, on the terms laid down by this Royal Decree-Law. via European Commission Approves Spanish Bank Recapitalization Scheme – Banking Business Review .

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European Commission Approves Spanish Bank Recapitalization Scheme

Cinemas in Spain´s northeastern region of Catalonia will close for a day on Monday in protest against a new law requiring that 50 percent of all foreign films screened there be dubbed into Catalan. The region, which includes Barcelona, Spain´s second largest city, accounts for about one-fifth of the country´s box office but just two percent of movies from the United States or other nations were dubbed into Catalan in 2008. Camillo Tarrazon, the president of the Catalan Association of Cinemas, said the dubbing law which was approved by the regional Catalan parliament earlier this month would be an “apocalypse” for cinemas in the region. “This is a law which will close theatres, which will lead to a reduction in the number of copies of films and a drop in the number of spectators,” he said in comments published Wednesday in Spanish newspapers. Tarrazon said 74 cinemas, representing 81 percent of the total in Catalonia, are expected to remain shut on Monday as part of the strike. The last time the Catalan government tried to introduce similar regulations, in 1998, it was forced to back down after studios threatened to withdraw distribution in the region. Dictator Francisco Franco banned dubbing into Catalan as well as into Spain´s other regional languages, Galician and Basque, shortly after he came to power in 1939 in a bid to promote national unity but since his death in 1975 use of the three languages has flourished. Public education in Catalonia, Spain´s wealthiest region, is now carried out primarily in Catalan, while a 1998 law obliges businesses to serve clients in Catalan and have signs and information in the language. Last month more than 160 Catalan towns held symbolic referendums on independence from Spain. Catalonia, like other Spanish regions, already controls most aspects of government, including health and education. Under a regional statute approved in 2006, Catalonia´s regional parliament was granted enhanced powers in taxation and judicial matters as well as more control over airports, ports and immigration. Spain´s constitutional court is considering a submission by the right-wing opposition Popular Party to reject the definition of Catalonia as a “nation” used in the 2006 statute. Press reports have said the court will bar the term, setting the stage for a major political crisis. Copyright © 2010 AFP. All rights reserved. via AFP: Cinemas in Spain’s Catalonia to strike over dubbing law .

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Cinemas in Spain’s Catalonia to strike over dubbing law

El Bulli, the Spanish restaurant repeatedly crowned the world´s best, will temporarily close in 2012 and 2013, its famed avant-garde chef Ferran Adria announced on Tuesday. “No meals will be served in El Bulli in 2012 and 2013,” he told a news conference at Madrid Fusion, the annual international culinary conference focussing on the cutting-edge in haute cuisine. “But El Bulli is not closing down. These are not two years on sabbatical. I need time to decide how 2014 is going to be… I know that when I return it will not be the same,” said the father of so-called molecular gastronomy. El Bulli, on Spain´s northeastern Catalan coast, was last year named the world´s best for the fourth year in a row by Britain´s Restaurant magazine. Other publications have similarly raved about Adria and his food. But Adria said he found working 15 hours a day “difficult.” “It´s like telling [British designer] John Galliano to go work in a factory,” he said. Adria and Heston Blumenthal in England have since the late 1990s rocked world cuisine by using science to “deconstruct” and rebuild food. Taste-bud treats on the menu of Adria´s three-star restaurant have included oyster meringue, hot ice cream, frothy truffle cappuccino and liquid ravioli, while vegetables are turned into lollipops or whipped foams. He has had to respond to critics who say the chemicals used in his “molecular gastronomy” make it unhealthy. “Homemade ice-creams, those which are excellent, must have a stabilising substance to avoid crystallisation. Sugar goes through a chemical and physical transformation. Chocolate contains lecithin. Agar is a thick substance that has been used in Japan for centuries,” he said once in response to criticism from another top Spanish chef, Santi Santamaria. “The tomato also has a chemical composition,” he said. via ‘Best restaurant in the world’ to close for two years .

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‘Best restaurant in the world’ to close for two years

A man suffering a panic attack tried to force his way into the cockpit of a plane flying from Cardiff to the Canary Islands, say police in Spain. The Spanish national was overpowered and restrained by passengers and flight attendants on the Thomson Airways 0810 GMT service. He was arrested by police when the aircraft landed safely at Las Palmas airport in Gran Canaria. Thomson Airways said the man had “demonstrated aggressive behaviour”. A spokesman for the Spanish Civil Guard in Madrid said it was not being treated as a terrorist incident, while a spokeswoman for Gran Canaria Airport said the man was from the Canary Islands. The Civil Guard spokesman added: “A passenger had a panic attack, got up from his seat and refused to sit down again. “He was restrained and was detained when the flight arrived at Las Palmas. “I cannot give any more detail about why this passenger behaved as he did, but I can say that the incident had nothing to do with terrorism.” Thomson Airways said the passenger on flight TOM 6102 from Cardiff was “disruptive”. A company spokesman said: “The passenger unsuccessfully tried to gain access to the cockpit and demonstrated aggressive behaviour towards customers and crew. “The passenger was restrained during the flight and in accordance with our procedures the aircraft was met by the local police upon arrival into Gran Canaria. “Thomson Airways would like to reassure customers that incidents of this type are extremely rare and that their safety is our first priority at all times.” A spokeswoman for Gran Canaria Airport said the passenger plane´s pilot called the police after the man tried to enter the cockpit. The Foreign Office said it could not confirm if the passenger who tried to enter the cockpit was British. It also said the authorities in Las Palmas would not releasing any information until Tuesday. via BBC News – Passenger tries to storm cockpit on plane from Cardiff .

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Passenger tries to storm cockpit on plane from Cardiff

JAILED members of the Basque separatist group ETA say they launched a hunger strike Monday to protest Spain´s policy of keeping them isolated from each other. The so-called Basque Political Prisoners Group announced the strike in a statement sent to Gara, a pro-independence Basque newspaper that often serves as a mouthpiece for ETA. Around 750 people are serving time in Spanish or French jails over their membership in or links to ETA. Spain´s long-standing policy is to keep ETA prisoners spread out in jails around the country, usually far from their homes in the Basque region, as a way to keep them from plotting behind bars. “We do not have to accept that any of us be isolated, kept at a distance or dispersed,' the prisoners” statement said. But Interior Minister Alfredo Perez Rubalcaba said the government would not change its policy one bit. ETA´s prisoners are said to be divided, with a minority of them reportedly pushing for the group to renounce violence. The Basque Political Prisoners Group said earlier this month it had expelled five members for “breaking with discipline” an apparent allusion to their calling on ETA to lay down arms. ETA has killed more than 825 people since launching its campaign for an independent Basque homeland in the 1960s. It declared what it called an open-ended cease-fire in 2006, but returned to violence in a matter of months after peace talks with the government of Prime Minister Jose Luis Rodriguez Zapatero went nowhere. — AP via Basques start hunger strike .

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Basques start hunger strike

British Airways´ pension deficit more than doubled to 3.7 billion pounds at the end of March, it revealed on Monday, higher than analysts expected but not seen as big enough to derail a merger with Spain´s Iberia. Shares in BA were down 0.7 percent at 199.90 pence by 11:55 a.m. while Iberia was 0.8 percent down at 2.01 euros. “We´re not surprised by this figure. It falls within the expected range,” a source at Iberia told Reuters on Monday. BA and Iberia announced in November that they had reached a preliminary agreement for a merger after months of negotiations. BA´s pension deficit was one of the main stumbling blocks in the merger negotiations and Iberia has reserved the right to back out of the deal if the funding hole turns out to be too big. Nevertheless, the deficit figure of 3.7 billion pounds could be higher by the time the valuation process is completed in June next year because Britain´s Pensions Regulator believes the assumptions used to calculate the shortfall are too optimistic. “The regulator's provisional view is that the technical provisions may be materially below a level it feels appropriate,” BA said in a statement. Analysts at Deutsche Bank described the figure as “towards the high end of market expectations” but said a recovery in the stock market since the end of March meant the current funding hole gap probably stood at around 2 billion pounds. “However, even taking into account the rise in the stock market since March it seems that more money will have to be found for the pension deficit,” they said in a research note. LABOUR TALKS BA said the airline and pension trustees will work together to develop a recovery plan, a process which will involve the company consulting with employees and their trade unions and which must be completed by June 30, 2010. BA and Iberia hope to conclude a merger deal by the end of 2010 and attention is now expected to switch to the nature of any pensions deal the British carrier can strike with its staff and what proportion of the gap will be covered by the company. “The company may be forced to renegotiate pension benefits with employees if it is to avoid using more shareholders cash,” Deutsche Bank said. “Industrial unrest could therefore worsen over the next few weeks.” The Unite union is due later on Monday to give the result of a strike ballot of some 13,500 BA cabin crew who are expected to vote in favour of a Christmas walkout over planned costs cuts and changes to work practices. BA wants three quarters of its crew to accept a pay rise of between 2 and 7 percent this year and next and for 3,000 staff to switch to part-time working, along with a reduction in onboard crewing levels on some flights from London Heathrow. Unite expects the strike, which sources believe could begin as soon as December 21, to go ahead and bring the airline´s Christmas business to a virtual standstill. A Unite spokeswoman told Reuters that it had expected BA´s pension deficit to be larger than the reported figure and that it does not want the issue “to dovetail into strike talks.” Analysts estimate that a two-day strike over Christmas could cost the airline around 50 million pounds. Independent pensions consultant John Ralfe said that although Iberia management may have been privy to the new pensions deficit numbers, investors in the Spanish airline would still be shocked. “What a month ago looked like a deal that might work with a following wind … now looks much more difficult,” he said. Ralfe said the statement appeared to imply that the company would be talking to unions and employees about cutting benefits at a time when industrial relations are already strained. A spokeswoman for BA said the company could not afford to make any additional contributions to the pension scheme than those already being made but was looking at all other options for a recovery plan. BA said an actuarial review had revealed a 1 billion pound deficit at its Airways Pension Scheme (APS) and a further 2.7 billion pound black hole at its New Airways Pension Scheme (NAPS). That compares with a funding gap of 1.8 billion pounds identified by trustees at the end of March 2008. via British Airways Pension Deficit Swells – NYTimes.com . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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British Airways Pension Deficit Swells

Summary: Magnitude ML 2.6 Region CANARY ISLANDS, SPAIN REGION Date time 2009-12-11 at 23:18:09.1 UTC Location 28.12 N ; 16.48 W Depth 23 km Distances 43 km S San cristóbal de la laguna (pop 139,928 ; local time 23:18 2009-12-11 ) 10 km E Granadilla de abona (pop 33,259 ; local time 23:18 2009-12-11) 6 km S Arico (pop 7,189 ; local time 23:18 2009-12-11) via EMSC – European-Mediterranean Seismological Centre . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Earthquake: Canary Islands