Word: britain
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Ronnie Biggs, the former fugitive who helped stage Britain's "Great Train Robbery" in 1963, has been released from prison, marking the end of a criminal saga that has played out over 40 years and across four continents...
...tabloid journalists from Britain's Daily Express broke the news that Biggs was hiding out in Rio de Janeiro. Scotland Yard's subsequent efforts to extradite him were foiled after Biggs fathered a child, Michael, with Raimunda de Castro, a nightclub dancer and alleged prostitute; Brazilian law protected the parents of Brazilian citizens. And while Biggs could not legally work in Brazil, he was able to live freely and profit from coffee mugs and T shirts branded with his name and image. (TIME flashback 1981: "Biggs Bagged...
...going without government bailouts during the depths of the crisis last fall won't have done either bank's prospects any harm. While Barclays and HSBC have both benefited from taxpayer loans or guarantees - part of a $2 trillion package of state and central-bank aid doled out to Britain's lenders - both "have worked hard on their balance sheets," says Simon Maughan, a banking analyst at MF Global brokerage in London. Having tapped Middle East investors last year in an effort to bolster its capital base, Barclays agreed in June to sell the investment unit BGI to U.S. fund...
...others, meanwhile, the prospects may not be so bright. Impairments at Lloyds rose to $22.8 billion in the first half, the company said Wednesday, thanks largely to its acquisition in January of HBOS, the troubled U.K. lender heavily exposed to Britain's declining property market. Still, you can't fault Lloyds' optimism. The bank, in which the government has a 43% stake, predicted "high single-digit income growth" within two years. Analysts expect a steep hike in provisions for bad loans when Royal Bank of Scotland (RBS), Britain's largest taxpayer-funded lender, unveils first-half results later this week...
...building new nuclear plants; Rome aims to use nuclear power to help reduce foreign-energy imports, and cut costs by 30% in the coming years. Belgium and Sweden are considering revising laws to extend the life of existing reactors, and to open the door to newer nuclear technology. Britain plans at least four new nuclear reactors, while Japan has two new plants under construction to add to its existing stable of 53. Even the oil-rich Middle East has taken its first step toward nukes: Abu Dhabi hopes to begin work soon on the first of the half-dozen...