Uk Debt Chief: Any Sale Of Boe Gilts Mustn’t Disrupt Markets
Still, under Peruvian law, the two could receive between eight and 15 years in prison, according to the court. The pair recounted to a judge how they had prepared and transferred the drugs and told him of contacts with whom they had coordinated the transaction. After their arrest, the women told British reporters that they had been kidnapped by a drug cartel, taken to Peru and forced to transport drugs. But the claim was met with widespread skepticism, and Peruvian authorities did not buy the story. The cocaine was found stashed in packages of cereal in the belongings of both McCollum Connolly and Reid. The prosecutor in charge of the investigation said that among the evidence against the pair was a recording of a phone call in which they were told what to do to smuggle the drugs. In an interview with Britain’s Mail newspaper earlier this month, Reid continued to maintain she acted “under duress,” but said she would plead guilty in order to get a reduced sentence. “I am really scared about what I am about to do but I am also relieved that there could be a light at the end of the tunnel,” she said. “I’m now coming to terms with the fact I am so far away from my family. This is real. “After a lot of thought and advice from my lawyer I am going to go in front of the judge and admit I was in possession of the drugs and that I went to Peru to pick up drugs to take to Spain — I am willing to plead guilty to that.” The case had triggered sensational headlines in their homelands, as they had initially been reported missing in Spain in July. A major campaign was launched to find the two young women, until news emerged of their arrest in Peru. Since 2012, 248 foreigners laden with drugs have been arrested at Lima’s international airport.
UK Stocks-Factors to watch on Wednesday, Sept. 25
Seperate multiple addresses with Commas. Must enter an email address. You must enter the verification code below to send. Invalid entry: Please type the verification code again. September 25, 2013, 6:01 a.m. ET UK Debt Chief: Any Sale of BOE Gilts Mustn’t Disrupt Markets Text By Nick Cawley Any future sale of the Bank of England’s stock of U.K. government bonds must not disrupt markets, the head of the country’s debt office said Wednesday. While it is up to BOE policymakers to decide if and when to unwind their gilt holdings–the result of the central bank’s program of quantitative easing–it is important that any such process doesn’t lead to a “disorderly market”, Robert Stheeman, chief executive of the U.K. Debt Management Office, said at a conference in London organized by Euromoney. The BOE halted its bond-buying last November, but continues to hold GBP375 billion of gilts. Mr. Stheeman also said the DMO hasn’t ruled out issuing index-linked bonds tied to Consumer Price Inflation, but needs to see “real demand” before considering such a step.
25 Markets LONDON, Sept 25 | Wed Sep 25, 2013 1:48am EDT LONDON, Sept 25 (Reuters) – Britain’s FTSE 100 index is seen opening flat to 8 points lower on Wednesday, according to financial bookmakers. For more on the factors affecting European stocks, please click on * U.S. Senate Republicans on Tuesday appeared to fall in line with their leaders who want to pass an emergency spending bill by Sept. 30 and avoid government shutdowns, even if it means failing in a drive to destroy “Obamacare.” * Worries over a possible U.S. government shutdown pushed Wall Street lower overnight. Japan’s Nikkei eased for a second day. * The UK blue chip index closed up 14.1 points, or 0.2 percent, at 6,571.46 points on Tuesday. * Ex-dividends are set to take around 1.7 points off the FTSE 100 on Wednesday, with Centrica, Old Mutual and RSA all trading without entitlement to the latest payout. * BHP BILLITON – The world’s biggest mining company on Wednesday said global commodities markets were being undermined by rising supplies of raw materials and warned the outlook for steel demand in Asia was expected to moderate. * ANGLO AMERICAN – The global miner is pleased with progress at an iron ore terminal at LLX’S Port of Acu near Rio de Janeiro, the company’s CEO Mark Cutifani said on Tuesday. * CENTRICA – Britain’s biggest energy supplier has claimed it could not “continue to operate” if Labour’s price freeze were implemented while costs are rising, the Daily Telegraph reports. * HSBC – The bank that was fined a record $1.9 billion after an investigation into money laundering for terrorists and Mexican drug dealers, is to take on 3,000 more compliance officers, according to The Times. TODAY’S UK PAPERS > Financial Times > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting By Toni Vorobyova, editing by Atul Prakash)