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Exclusive: UK jails for dangerous criminals?

Public Safety Minister Michael Dunkley confirmed that Government had recently explored the possibility of sending dangerous offenders to prisons in the UK. And Government House told us yesterday that prison authorities in the UK are willing to assist if Bermuda needs help accommodating prisoners. Mr Dunkley revealed that he has been in discussions with Government House about working with the UK to house inmates that pose the greatest threat. The procedure would pose challenges, Mr Dunkley acknowledged, adding: There is always the opportunity to review and improve the way we work. As far as sending prisoners overseas we have discussed this with Government House to see if there isthe opportunity for that in the UK. It might be appropriate if we are very concerned about an individual inmate and the threat they pose in our prison system. And it might be appropriate to work with the UK and ship that inmate overseas. But it presents certain challenges as well and it is not as easy as just saying lets get it done. Meanwhile a Government House spokesman explained that transfers could not be made for administrative convenience or as a form of punishment. But the UK Government would be willing to help if certain criteria was met. The spokesman said: There have been discussions with the prison authorities in the UK on this issue. Background factors In principle they are willing to help if Bermuda, or any other Overseas Territory, seeks assistance with accommodating prisoners.

The Bank of England is seen in the City of London August 7, 2013. REUTERS/Toby Melville

Credit: Reuters/Toby Melville By Huw Jones and William Schomberg LONDON | Tue Oct 1, 2013 3:35pm BST LONDON (Reuters) – Banks in Britain may have to hold more capital than their international rivals under proposals for an annual stress test of lenders put forward by the Bank of England on Tuesday. The BoE spelled out how it will begin checking for the first time that banks do not pose risks to the UK economy by being short of reserves, both individually and as a sector. It will start an annual test for the top eight UK lenders like Barclays, RBS and HSBC in 2014. The test will be broadened out over five years to include big UK subsidiaries of major international banks, the BoE said. Medium-sized British banks are likely to face a cut-down version of the test, and clearing houses could face their own health checks later on, the central bank said. “Stress-testing can provide a quantum leap in transparency and accountability,” BoE Deputy Governor Paul Tucker said. The test will be mainly used to form supervisory approaches rather than just to identify any capital holes to plug. “These new proposals should reinforce confidence in the financial system by letting regulators make judgments that balance systemic risk with the need to support growth,” the British Bankers’ Association said. Mike Trippitt, director of banks’ research at Numis Securities in London, said banks were already starting to see strong enough profits to build up capital buffers that would meet even a pessimistic stress test scenario. At any rate, shares in Britain’s biggest banks were unperturbed by the BoE’s announcement, with most outperforming a rise in the broader market on Tuesday. “The capital position of banks is pretty strong and without looking at the detail of the stress tests, what the market is saying is that these banks should be able to fare well,” Trippitt said. Analysts at Citi said uncertainty over details of the test will constrain dividends for 2013 and its lack of harmonisation with European tests may dent credibility. But having a clear framework could in the long run reduce the “risk premium” on Britain’s banks due to “ongoing concerns over regulatory creep”, Citi said.

UK Government Announces Winners Of The GREAT Tech Awards

2, 2013 /PRNewswire-USNewswire/ — The winners of the UK Government’s inaugural GREAT Tech Awards were announced tonight at The GREAT Tech Awards Gala at The McKittrick Hotel in New York City. The GREAT Tech Awards, an international technology competition celebrating the best of UK and US technology start-ups, is hosted by UK Trade & Investment. New York-based tech start-ups applied over the summer to win one of five custom UK expansion packages in the education, finance, hardware, lifestyle, and media sectors. “The technology sector is of utmost importance to the UK, and is bolstered by our commitment to innovation, entrepreneurialism, and a dynamic business climate,” said HRH The Duke of York, whose official work includes supporting the economic success of the UK. “The GREAT Tech Awards offer an unparalleled opportunity for the winners to use the UK as their next step towards international expansion and success. I wish the winners the best of luck on their exciting new journey across the Atlantic.” The US award winners were handpicked by a panel of judges representing the finest industry leaders, influencers, and entrepreneurs. The winners are: Media: ADstruc The Advisors’ Choice Award, awarded to Blippar , recognizes a British technology company that has successfully established a New York office. Sponsors of the competition include Virgin Atlantic Airways, Royal Bank of Scotland (RBS), TaylorWessing, BritishAmerican Business (BAB), and Blick Rothenberg. “We are thrilled to announce the winners of The GREAT Tech Awards tonight, which represent the best of the UK-US tech industry,” said Danny Lopez, British Consul-General to New York. “We have seen exponential growth in tech clusters in both UK and US cities in recent years, and it’s no coincidence. Winners will embark on a journey of international expansion in the best country in Europe to grow a business, and these bespoke development packages will provide a helpful boost for these companies to succeed.” The five category winners receive a customized package that includes: a premium economy round-trip airplane ticket provided by Virgin Atlantic Airlines departing from JFK on October 14, and returning from LHR on October 19, 2013; a meeting with a senior representative at the UK Prime Minister’s Office, No.