Oil prices have fallen heavily for a second day, closing at three month lows after news that US crude stocks have improved ahead of winter. London Brent crude closed at 40.15 on Thursday a drop of 5.1% having dived below 40 a barrel for the first time since mid September. US light crude traded in New York lost more than 2 to 43.25, its lowest close since 10 September. The price of both benchmark crudes has dropped 12% in two days. The falls were triggered when the Energy Information Administration (EIA) said on Wednesday that US crude stocks were 3.5% higher than a year ago. The news calmed worries about winter shortages. Weak US fuel and heating oil stocks have been a persistent factor in pushing up oil prices. "It's amazing how quickly sentiment changed," said Rick Mueller, an analyst at Energy Security Analysis. Analysts also attributed the fall to mild early winter weather, which has tempered demand for heating oil. The stronger fuel inventories helped boost US stock markets to nine month highs on Wednesday, though only the Nasdaq index had hung onto those gains by the end of Thursday. In London, the FTSE 100 index closed 15 points higher at 4,751. The long awaited drop in oil prices helped to ease persistent investor jitters over the impact of energy costs on company profits and economic growth. However, traders warned that the fall could be short lived if there is a cold snap in North America this winter or any major supply problems in other parts of the world. The price of crude is still up about 30% on the start of 2004, but has fallen from the record of 55.67 set in late October. Opec nations have increased production to 25 year highs to meet global demand and this has helped rebuild US stocks hit by supply disruptions after Hurricane Ivan in September. Traders were also encouraged by comments on Wednesday from the energy minister of Opec member Algeria. Chakib Khelil said the cartel was likely to keep output unchanged when it meets next week. However, some analysts believe the sharp fall in crude prices may harden Opec's attitude to over production, leading to a scaling back of oil output. Fears still remain over the level of US heating oil stocks, which are rising but remain down on 2004 levels. A cold spell in north America would start to deplete supplies and could spark further price rises. Analysts, however, say prices will fall further if inventories continue to rise. "Mother Nature is going to be huge in the next several weeks," said Kyle Cooper, at Citigroup Global Markets. "Long term I think we're headed to 30 35 but I don't think we're doing that yet. We have a lot of winter left." John Person, president of National Futures Advisory Services, said the EIA data indicated there should be adequate supplies for the next three months in the US. .


The French co head of European defence and aerospace group EADS Philippe Camus is to leave his post. Mr Camus said in a statement that he has accepted the invitation to return full time to the Lagardere group, which owns 30% of EADS. "I will give up my role as soon as the board of directors asks me to do so," he said. Airbus head Noel Forgeard is now set to replace Mr Camus, bringing the company's power struggle to an end. Fighting between Mr Camus and Mr Forgeard has hit the headlines in France and analysts feared that this fighting could destabilise the defence and aerospace group. French finance minister Herve Gaymard is on record as saying that he "deplored" the infighting at the company. The company should now be able put this dispute behind it, with the departure of Mr Camus and with the clear support given to Mr Forgeard by the Lagardere group, the main French shareholder of EADS. The other main shareholders of EADS are the French government (15%) , who also support Mr Forgeard, and Germany's DaimlerChrysler (30%). Rainer Hertrich, the German co head of EADS will also step down when his contract expires next year. Mr Camus recently came under pressure as it became clear that the A380 superjumbo was running over budget. EADS Airbus' majority owner admitted earlier this week that the project was running 1.45bn euros ( 1bn; 1.9bn) over budget. But Mr Forgeard has denied this, telling French media that there is no current overrun in the budget. "But for the sake of transparency, we told our shareholders last week that if we look at the forecast for total costs of the project up to 2010, there is a risk that we will go over by around 10%, which is about 1bn euros ( 686m; 1.32bn)," he told France's LCI Television. Due to enter service in 2006, the A380 will replace the Boeing 747 jumbo as the world's biggest passenger aircraft.


Newcastle have fined their Welsh striker Craig Bellamy two weeks' wages about 80,000 following his row with manager Graeme Souness. But Bellamy, 25, has not been put on the transfer list, although he did not train with the first team on Tuesday. Magpies chairman Freddy Shepherd told the Newcastle Evening Chronicle: "It is not about money. It is about a player thinking he is bigger than this club. "No individual is, be it the chairman, the manager or a player." Souness dropped Bellamy for Sunday's game against Arsenal, claiming the Welshman had feigned injury after being asked to play out of position. "When I heard what the manager was saying I was in shock," Bellamy said. "I thought 'not only has he gone behind my back, he's lying'," he said in response to Souness' remarks. And the Wales international refused to apologise. "I won't apologise because I have done nothing wrong," he told the Evening Chronicle. "There's no doubt about it, I am out of here." The difficult relationship between Souness and Bellamy boiled over at the weekend, and has led to a war of words in the media. Bellamy's claim that Souness had lied about the background to the bust up was strongly denied by Shepherd, who accused the striker of "cheating" the club. "I wish to put the record straight regarding the Bellamy situation," said Shepherd. "Craig walked off the training ground saying his hamstring was tight (on Friday), but what he failed to reveal was that he had told other members of the squad before training that he intended to feign injury. "When Graeme discovered this he immediately ordered Bellamy to attend a meeting in my office. "At that meeting Bellamy admitted to Graeme and I that he had told the players that he was going to "fake" an injury in training and walk off. "He also agreed at that meeting to apologise to his team mates for his behaviour. He didn't do this which resulted in the action taken by the manager at the weekend, which I fully support. "In my book this is cheating on the club, the supporters, the manager and his own team mates. "He is paid extremely well and I consider his behaviour to be totally unacceptable and totally unprofessional." Bellamy's latest outburst would appear to make his chances of a first team recall remote. But even before Newcastle said the player would not be sold, Bellamy insisted he had no intention of handing in a transfer request. "I don't want the fans to think for one minute that I wouldn't play for this club," he said. "I'd play anywhere for this club, even in goal. "It's a very difficult situation for me at the moment but I'd never ask to leave this club. "This club means so much to me. I couldn't do it because I know I couldn't come back here and play against Newcastle. It would hurt too much."


Barcelona assistant coach Henk Ten Cate has branded Chelsea's expected complaint to Uefa as "pathetic". The Blues are poised to complain about an alleged half time incident during Wednesday's 2 1 loss at the Nou Camp. The source of Chelsea's anger was an alleged talk between Barca boss Frank Rijkaard and referee Anders Frisk, who later dismissed Didier Drogba. "To react the way Chelsea have is pathetic. Mourinho lied with the line ups, and now this," Ten Cate said. Uefa has said its own tunnel representative witnessed nothing unusual out of the ordinary during the half time break. Spokesman William Gaillard said: "Frisk says Rijkaard greeted him and apologised he had not had the opportunity to say hello before the game. "We had two Uefa officials there and neither witnessed it. The referee's dressing room was locked and he and his assistants were the only people allowed in." Indeed, it is the Londoners who could be on the receiving end of any punishment after failing to turn up for the compulsory press conference after the defeat. Uefa delegate Thomas Giordano added: "The only unusual thing that happened as far as we are concerned is that Chelsea failed to present themselves in the press conference." The referee is not expected to include any of the alleged incidents in his report to Uefa weakening Chelsea's case. Rijkaard was critical of Mourinho's decision not to speak to the media after the match. "There was a lot of talking before the game and now surprisingly there is a lot of talking after the game. It is not good behaviour after a match," he said. "Maybe they want to start something and make it worse than than it is. I really don't understand it. I am very calm about it." Barca midfielder Deco, formerly managed by Mourinho at Porto, agreed that it was not typical of his fellow Portuguese to lodge a protest. "It's not normal behaviour on his part. It was not logical he did not give a news conference," he said. Rijkaard added: "Chelsea is the team which has conceded fewest goals in the English league and they defend very well so I am very pleased with the win. "My men deserved victory and I am pleased to have won this match. I congratulate my players."


Telecoms equipment supplier Ericsson has posted a rise in fourth quarter profits thanks to clients like Deutsche Telekom upgrade their networks. Operating profit in the three months to 31 December was 9.5bn kronor ( 722m; 1.3bn) against 6.3bn kronor last year. Shares tumbled, however, as the company reported a profit margin of 45.6%, less than the 47.3% forecast by analysts and down from 47.1% in the third quarter. Ericsson shares dropped 5.9% to 20.7 kronor in early trading on Thursday. However, the company remained optimistic about its earnings outlook after sales in the fourth quarter rose 9% to 39.4bn kronor. "Long term growth drivers of the industry remain solid," Ericsson said in a statement. Chief executive Carl Henric Svanberg explained that about "27% of the world's population now has access to mobile communications". "This is exciting for a company with a vision of an all communicating world," he added. Mr Svanberg, however, warned that the extra demand that had driven 2004 sales had already dissipated and it was "business as usual". He added that sales in the first three months of 2005 would be subject to "normal seasonality". For the whole of 2004, Ericsson returned a net profit of 19bn kronor, compared with a loss of 10.8bn kronor in 2003. Sales climbed to 131.9 billion kronor from 117.7bn kronor in 2003.


The Kyrgyz Republic, a small, mountainous state of the former Soviet republic, is using invisible ink and ultraviolet readers in the country's elections as part of a drive to prevent multiple voting. This new technology is causing both worries and guarded optimism among different sectors of the population. In an effort to live up to its reputation in the 1990s as "an island of democracy", the Kyrgyz President, Askar Akaev, pushed through the law requiring the use of ink during the upcoming Parliamentary and Presidential elections. The US government agreed to fund all expenses associated with this decision. The Kyrgyz Republic is seen by many experts as backsliding from the high point it reached in the mid 1990s with a hastily pushed through referendum in 2003, reducing the legislative branch to one chamber with 75 deputies. The use of ink is only one part of a general effort to show commitment towards more open elections the German Embassy, the Soros Foundation and the Kyrgyz government have all contributed to purchase transparent ballot boxes. The actual technology behind the ink is not that complicated. The ink is sprayed on a person's left thumb. It dries and is not visible under normal light. However, the presence of ultraviolet light (of the kind used to verify money) causes the ink to glow with a neon yellow light. At the entrance to each polling station, one election official will scan voter's fingers with UV lamp before allowing them to enter, and every voter will have his/her left thumb sprayed with ink before receiving the ballot. If the ink shows under the UV light the voter will not be allowed to enter the polling station. Likewise, any voter who refuses to be inked will not receive the ballot. These elections are assuming even greater significance because of two large factors the upcoming parliamentary elections are a prelude to a potentially regime changing presidential election in the Autumn as well as the echo of recent elections in other former Soviet Republics, notably Ukraine and Georgia. The use of ink has been controversial especially among groups perceived to be pro government. Widely circulated articles compared the use of ink to the rural practice of marking sheep a still common metaphor in this primarily agricultural society. The author of one such article began a petition drive against the use of the ink. The greatest part of the opposition to ink has often been sheer ignorance. Local newspapers have carried stories that the ink is harmful, radioactive or even that the ultraviolet readers may cause health problems. Others, such as the aggressively middle of the road, Coalition of Non governmental Organizations, have lauded the move as an important step forward. This type of ink has been used in many elections in the world, in countries as varied as Serbia, South Africa, Indonesia and Turkey. The other common type of ink in elections is indelible visible ink but as the elections in Afghanistan showed, improper use of this type of ink can cause additional problems. The use of "invisible" ink is not without its own problems. In most elections, numerous rumors have spread about it. In Serbia, for example, both Christian and Islamic leaders assured their populations that its use was not contrary to religion. Other rumours are associated with how to remove the ink various soft drinks, solvents and cleaning products are put forward. However, in reality, the ink is very effective at getting under the cuticle of the thumb and difficult to wash off. The ink stays on the finger for at least 72 hours and for up to a week. The use of ink and readers by itself is not a panacea for election ills. The passage of the inking law is, nevertheless, a clear step forward towards free and fair elections." The country's widely watched parliamentary elections are scheduled for 27 February. David Mikosz works for the IFES, an international, non profit organisation that supports the building of democratic societies.


First Minister Jack McConnell has ordered a report on the decision to allow a paranoid schizophrenic knife attacker to go on a visit unguarded. Michael Ferguson, 36, escaped after being allowed out of the high security Carstairs unit. The SNP's Nicola Sturgeon has demanded to know who was responsible for signing off the leave. The Scottish Executive said ministers would be notified but it would "not be common practice" to sign approval. An executive spokesman said the health department and the state hospital itself would work together on preparing the report. Ministerial responsibility for Carstairs rests with Rhona Brankin, the deputy health minister. Ms Brankin said: "The first minister has called for a review of what has happened, we need to talk to the state hospital and we need to reflect on this." Ms Sturgeon has written to Mr McConnell asking for clarification on the move to allow the prisoner out. She said questions must be answered about his escape, if the public is to be reassured about safety. Police are still searching for Ferguson, who failed to return after a trip to East Kilbride on Monday. The Scottish National Party's parliamentary leader argued that under the law, authorisation of Ferguson's leave of absence would have come directly from ministers. She said: "The Scottish Executive seemed to indicate yesterday that the escape of Mr Ferguson was a matter for Carstairs. "However, my understanding is that, under the mental health legislation, the decision to grant this patient and any restricted patient leave of absence, would have required direct and specific authorisation by Scottish ministers." She added: "I have written to the first minister today asking for confirmation of that fact. I have also asked him to confirm which minister would routinely take decisions of this nature and what information they are based on. "This is not an attempt to apportion blame, but to ensure a better understanding of the decision making process in such important and sensitive cases." Police said Ferguson posed a danger to the public. BBC Scotland political correspondent Glenn Campbell said the first minister had ordered an urgent report into the situation. He said: "We understand from the executive that in this case no individual minister signed off the approval for Michael Ferguson to be released unescorted from Carstairs. "The executive concedes that it is up to Scottish ministers, they have a legal responsibility for approving this sort of leave, but they say routinely it is specialised officials that make that decision and simply inform ministers that they have taken it. "But at that stage presumably ministers can ask hard questions and can ask for reassurances that the patient is not a serious danger to the public or that any risk has been minimised." Scottish Conservative leader, David McLetchie, said earlier it was "almost beyond belief that this has been allowed to happen". The executive spokeswoman said the recommendation for leave was agreed by a psychiatric advisor "in conjunction with officials on behalf of ministers". She said: "Ministers were told of that, notified of it, but it would not be common practice for them to sign it off. "They do have statutory responsibility, but the common practice has been that people who work with the patient and have the best knowledge about risk would make that decision." Ferguson, who slashed a man in a doctors' surgery in Coatbridge in 1994, had been out to see his fianc 233;e Annabella Holmes, 47, whom he met when she was a patient at the high security complex in South Lanarkshire. He is described as being 5ft 9ins tall, slim, with blond hair, blue eyes and a fair complexion. Ferguson was wearing a black jacket, grey jeans, black jumper and black shoes when he was last seen. He has multiple fading tattoos on his left hand and a very faded tear tattoo under his left eye. Ms Holmes is not missing but there have been no sightings of Ferguson since Monday. Strathclyde Police asked anyone who spots Ferguson to contact Sergeant Keith McDonald on .


Shares in US phone company MCI have risen on speculation that it is in takeover talks. The Wall Street Journal reported on Thursday that Qwest has bid 6.3bn ( 3.4bn) for MCI. Other firms have also expressed an interest in MCI, the second largest US long distance phone firm, and may now table rival bids, analysts said. Shares in MCI, which changed its name from Worldcom when it emerged from bankruptcy, were up 2.4% at 20.15. Press reports suggest that Qwest and MCI may reach an agreement as early as next week, although rival bids may muddy the waters. The largest US telephone company Verizon has previously held preliminary merger discussions with MCI, Reuters quoted sources as saying. Consolidation in the US telecommunications industry has picked up in the past few months as companies look to cut costs and boost client bases. A merger between MCI and Qwest would be the fifth billion dollar telecoms deal since October. Last week, SBC Communications agreed to buy its former parent and phone trailblazer AT T for about 16bn. Competition has intensified and fixed line phone providers such as MCI and AT T have seen themselves overtaken by rivals. Buying MCI would give Qwest, a local phone service provider, access to MCI's global network and business based subscribers. MCI also offers internet services. MCI was renamed after it emerged from Chapter 11 bankruptcy protection in April last year. It hit the headlines as Worldcom in 2002 after admitting it illegally booked expenses and inflated profits. The scandal was a key factor in a global slide in share prices and the reverberations are still being felt today. Shareholders lost about 180bn when the company collapsed, while 20,000 workers lost their jobs. Former Worldcom boss Bernie Ebbers is currently on trial, accused of overseeing an 11bn fraud.


Matt Williams insists he has no thoughts of quitting as national coach as a result of the power struggle currently gripping Scottish rugby. The chairman, chief executive and three non executive directors all departed in a row over the game's future direction. But Williams said: "I want to make it clear that I'm committed totally to Scottish rugby. "I've brought my family here and we've immersed ourselves in Scottish life. There's no way that I'm walking away." However, he attempted to steer clear of taking sides in the dispute. "I'd like to stress that the national team is separate to the political situation," he said. "When you come to an undertaking like this and you are trying to make a difference then there are always people who will begrudge you, who are jealous and want to try to drag you down. "When you have that situation, you have to have the courage of your convictions to see it through. "There was some very unhelpful and uninformed comment that the national team had received a massive increase in budget at the expense of other parts of Scottish rugby and that is simply not the case. "Like all good coaches, you go and ask for an increase. But we were told in no uncertain terms that the financial situation did not allow that. "The idea that we are lighting cigars with 20 notes while the rest of Scottish rugby flounders is absolutely untrue. "We also attracted criticism because of the number of days players spent with the national team. "But let me give you the truth. Our Irish counterparts, whom we have to compete with in a few days' time, had 70 days together at the summer. "They are currently in camp now and they will have another 21 days in camp before the Six Nations. "That means they will have 91 days away from their club from July until the Six Nations. We, on the other hand, will have 16. "There must be a win win philosophy and attitude within Scottish rugby and that is what we are after both groups winning, not competing."


Brian Moore believes the England captain should not be a full back. Jason Robinson has led the team during their opening three defeats in the Six Nations tournament, in the absence of fly half Jonny Wilkinson. The world champions have struggled since the retirement of former captain Martin Johnson, a lock forward. And former England captain Moore told the BBC: "Full backs are too far away from the action. That's not a reflection on Robinson personally." He added: "I just think the point of influence needs to move closer to the pack which is, after all, where games usually start and finish." Moore says a lack of cohesion in the forwards is one of the reasons why England have lost against Wales, France and Ireland in this year's tournament. "Assertiveness in the pack isn't there, we're not getting enough people into the breakdowns," he explained. "Wer'e not getting quick ball, which means the backs are being stifled. Their creativity depends on quick ball and we're not getting that." With injuries depriving him of key players like Wilkinson, coach Andy Robinson has given youngsters such as Harry Ellis and Jamie Noon a chance. And Moore believes the last two games against Italy and Scotland are a good opportunity to experiment further. "The problem is the players that are around to replace the icons which have been lost because of retirement and injury don't have the requisite experience," Moore added. "You can't do anything about that but play them. There are players who have been knocking on the door, it's time for them to be looked at in these last two games because there's nothing on them. "We then go into next season with a greater certainty of who can and cannot handle the pressure of international rugby."


South Korea looks set to sustain its revival thanks to renewed private consumption, its central bank says. The country's economy has suffered from an overhang of personal debt after its consumers' credit card spending spree. Card use fell sharply last year, but is now picking up again with a rise in spending of 14.8% year on year. "The economy is now heading upward rather than downward," said central bank governor Park Seung. "The worst seems to have passed." Mr Park's statement came as the bank decided to keep interest rates at an all time low of 3.25%. It had cut rates in November to help revive the economy, but rising inflation reaching 0.7% month on month in January has stopped it from cutting further. Economic growth in 2004 was about 4.7%, with the central bank predicting 4% growth this year. Other indicators are also suggesting that the country is inching back towards economic health. Exports traditionally the driver for expansion in Asian economies grew slower in January than at any time in 17 months. But domestic demand seems to be taking up the slack. Consumer confidence has bounced back from a four year low in January, and retail sales were up 2.1% in December. Credit card debt is falling, with only one in 13 of the 48 million cards now in default down from one in eight at the end of 2003. One of its biggest card issuers, LG Card, was rescued from collapse in December, having almost imploded under the weight of its customers' bad debts. The government last year tightened the rules for card lending to keep the card glut under control.


Profits at Indian drugmaker Dr Reddy's fell 93% as research costs rose and sales flagged. The firm said its profits were 40m rupees ( 915,000; 486,000) for the three months to December on sales which fell 8% to 4.7bn rupees. Dr Reddy's has built its reputation on producing generic versions of big name pharmaceutical products. But competition has intensified and the firm and the company is short on new product launches. The most recent was the annoucement in December 2000 that it had won exclusive marketing rights for a generic version of the famous anti depressant Prozac from its maker, Eli Lilly. It also lost a key court case in March 2004, banning it from selling a version of Pfizer's popular hypertension drug Norvasc in the US. Research and development of new drugs is continuing apace, with R D spending rising 37% to 705m rupees a key cause of the decrease in profits alongside the fall in sales. Patents on a number of well known products are due to run out in the near future, representing an opportunity for Dr Reddy, whose shares are listed in New York, and other Indian generics manufacturers. Sales in Dr Reddy's generics business fell 8.6% to 966m rupees. Another staple of the the firm's business, the sale of ingredients for drugs, also performed poorly. Sales were down more than 25% from the previous year to 1.4bn rupees in the face of strong competition both at home, and in the US and Europe. Dr Reddy's Indian competitors are gathering strength although they too face heavy competitive pressures.


An second half goal from Andy Scott condemned Mansfield to a ninth successive game without a win. Early in the second half Wayne Carlisle's cross was met by Scott and he blasted the ball home from just outside the penalty area. As Orient chased a second, Mansfield had to clear Alan White's header off the line and Kevin Pilkington saved well from Michael Simpson. By the end Mansfield fans were chanting for the head of chairman Keith Haslam. Pilkington, Talbot, Buxton, Dimech, Artell, Corden, Murray, Curtis, Neil, Warne, Barker. Subs Not Used: White, McIntosh, Wood, Lloyd, Herron. Harrison, Lockwood, Donny Barnard, White,Mackie, Scott, Saah, Simpson, Carlisle, Lee Barnard, Ibehre. Subs Not Used: Morris, Wardley, Newey, Zakuani, McMahon. Scott 51. 3,803 S Mathieson (Cheshire).


Some 2,000 jobs at MG Rover's Midlands plant may be cut if investment in the firm by a Chinese car maker goes ahead, the Financial Times has reported. Shanghai Automotive Industry Corp plans to shift production of the Rover 25 to China and export it to the UK, sources close to the negotiations tell the FT. But Rover told BBC News that reports of job cuts were "speculation". A tie up, seen as Rover's last chance to save its Longbridge plant, has been pushed by UK Chancellor Gordon Brown. Rover confirmed the tie up would take place "not very far away from this time". Rover bosses have said they are "confident" the 1bn ( 1.9bn) investment deal would be signed in March or early April. Transport General Worker's Union general secretary Tony Woodley repeated his view on Friday that all mergers led to some job cuts. He said investment in new models was needed to ensure the future of the Birmingham plant. "This is a very crucial and delicate time and our efforts are targeted to securing new models for the company which will mean jobs for our people," he said. SAIC says none of its money will be paid to the four owners of Rover, who have been accused by unions of awarding themselves exorbitant salaries, the FT reports. "SAIC is extremely concerned to ensure that its money is used to invest in the business rather than be distributed to the shareholders," the newspaper quotes a source close to the Chinese firm. Meanwhile, according to Chinese state press reports, small state owned carmaker Nanjing Auto is in negotiations with Rover and SAIC to take a 20% stake in the joint venture. SAIC was unavailable for comment on the job cuts when contacted by BBC News. Rover and SAIC signed a technology sharing agreement in August.


The majority of young people are interested in politics, holding "strong opinions" on policies and have a "keen appetite" for direct action. Research undertaken for voting watchdog the Electoral Commission suggests 81% of 16 to 20 year olds feel strongly about issues like crime and education. The survey findings are being released to coincide with the launch of the Y Vote Mock Elections 2005 initiative. Mock elections are planned to take place in schools across the UK. Electoral Commission boss Sam Younger said: "We know that young people often feel disengaged from democratic life and we believe in working creatively to encourage their interest and participation. "Mock elections can play an extremely valuable role in helping young people understand how the democratic process works and why it matters," he said. The survey of a sample of 500 British 16 to 20 year olds and 500 21 to 25 year olds "showed Britain's young people are far from apathetic about issues that matter to most of their lives". The Y Vote initiative is being run jointly by the Electoral Commission, the Hansard Society and the Department for Education and Skills in the run up to local elections and the general election, possibly on 5 May. Michael Rafferty, who is mock elections project manager at the Hansard Society, said he looked forward to seeing schools and colleges across the UK participating in the mock votes.


Hong Kong is hoping to join Japan as co host of the 2011 Rugby World Cup. Japan has applied to host the tournament on its own, with the aim of taking it outside rugby's traditional strongholds for the first time. But Hong Kong Rugby Football Union (HKRFU) chairman John Molloy has called for the territory to host one of the pools and a quarter final. The Japanese Rugby Football Union (JRFU) says it has yet to receive a formal presentation from the HKRFU. "At this stage, we are only considering hosting the event by ourselves," said JRFU secretary Koji Tokumasu. "We cannot examine any proposal unless we get it in a definitive form." Japan faces stiff competition in the form of South Africa and New Zealand to host the event in seven years' time. "Until now, the World Cup has been held in countries from the Six Nations or Tri Nations," said Tokumasu. "We think, and the IRB thinks, that it is time for rugby to go global. "Japan is ready to host the tournament and we are looking forward to welcoming the world of rugby to Japan." Tokumasu added that the 2002 football World Cup, co hosted by Japan and South Korea, had been a huge success. "As well as having the infrastructure in place, Japan also has the commercial clout to host one of sport's top competitions," he said. Last year, Japan launched its first professional rugby league and it has the fourth largest number of registered players (125,508) in the world after England, South Africa and France.


Soon you could go hunting via the net. A Texas company is considering letting web users use a remote controlled rifle to shoot down deer, antelope and wild pigs. For a small fee users will take control of a camera and rifle that they can use to spot and shoot the game animals as they roam around a 133 hectare Texas ranch. The Live Shot website behind the scheme already lets people practise shooting at targets via the internet. John Underwood, the man behind the Live Shot website, said the idea for the remote control hunting came to him a year ago when he was watching deer via a webcam on another net site. "We were looking at a beautiful white tail buck and my friend said 'If you just had a gun for that'. A little light bulb went off in my head," Mr Underwood told the Reuters news agency. A year's work and 10,000 has resulted in a remote controlled rig on which sits a camera and .22 calibre rifle. Mr Underwood is planning to put one of these rigs in a concealed location in a small reserve on his Texas ranch and let people shoot at a variety of game animals. Also needed is a fast net connection so remote hunters can quickly track and aim at passing game animals with the camera and rifle rig. Each remote hunting session will cost 150 with additional fees for meat processing and taxidermy work. Species that can be shot will include barbary, Corsican and mouflon sheep, blackbuck antelope and wild pigs. Already the Live Shot site lets people shoot 10 rounds at paper and silhouette targets for 5.95 for each 20 minute shooting session. For further fees, users can get the target they shot and a DVD recording of their session. Handlers oversee each shooting session and can stop the gun being fired if it is being aimed off range or at something it should not be. Mr Underwood said that internet hunting could be popular with disabled hunters unable to get out in the woods or distant hunters who cannot afford a trip to Texas. In a statement the RSPCA said it had "grave concerns" about people being allowed to go online and remotely control a rifle. "We assume it would be extremely difficult to accurately control a gun in this way and therefore it would be difficult to ensure a 'clean kill', something the RSPCA accepts is the intention of those shooting for sport," it said. "Animals hit but not killed would without doubt be caused to suffer unnecessarily," said the statement. Mike Berger, wildlife director of the Texas Parks and Wildlife Department, said current hunting statutes did not cover net or remote hunting. He said state laws on hunting only covered "regulated animals" such as native deer and bird species. As such there was nothing to stop Mr Underwood letting people hunt "unregulated" imported animals and wild pigs. Mr Underwood also lets people come in person to the ranch to hunt and shoot game animals.


German Chancellor Gerhard Schroeder has called for radical reform of the EU's stability pact to grant countries more flexibility over their budget deficits. Mr Schroeder said existing fiscal rules should be loosened to allow countries to run deficits above the current 3% limit if they met certain criteria. Writing in the Financial Times, Mr Schroeder also said heads of government should have a greater say in reforms. Changes to the pact are due to be agreed at an economic summit in March. The current EU rules limit the size of a eurozone country's deficit to 3% of GDP. Countries which exceed the threshold are liable to heavy fines by the European Commission, although several countries, including Germany, have breached the rules consistently since 2002 without facing punishment. The European Commission acknowledged last month that it would not impose sanctions on countries who break the rules. Mr Schroeder a staunch supporter of the pact when it was set up in the 1990s said exemptions were now needed to take into account the cost of domestic reform programmes and changing economic conditions. "The stability pact will work better if intervention by European institutions in the budgetary sovereignty of national parliaments is only permitted under very limited conditions," he wrote. "Only if their competences are respected will the member states be willing to align their policies more consistently with the economic goals of the EU." Deficits should be allowed to rise above 3%, Mr Schroeder argued, if countries meet several "mandatory criteria". These include governments which are adopting costly structural reforms, countries which are suffering economic stagnation and nations which are shouldering "special economic burdens". The proposed changes would make it harder for the European Commission to launch infringement action against any state which breaches the pact's rules. Mr Schroeder's intervention comes ahead of a meeting of the 12 Eurozone finance ministers on Monday to discuss the pact. The issue will also be discussed at Tuesday's Ecofin meeting of the finance ministers of all 25 EU members. Mr Schroeder also called for heads of government to play a larger role in shaping reforms to the pact. A number of EU finance ministers are believed to favour only limited changes to the eurozone's rules.


Shares in Deutsche Boerse have risen more than 3% after a shareholder fund voiced opposition to the firm's planned takeover of the London Stock Exchange. TCI, which claims to represent owners of 5% of Deutsche Boerse's (DB) shares, has complained that the 1.35bn ( 2.5bn) offer for the LSE is too high. Opposition from TCI has fuelled speculation that the proposed takeover could fail. Rival exchange operator Euronext has also said it may bid for the LSE. Euronext operates the Paris, Amsterdam, Brussels and Lisbon bourses, while Deutsche Boerse runs the Frankfurt exchange. BBC News spoke to a number of analysts on Monday morning about shareholder worries over Deutsche Boerse's bid for LSE. Although none were prepared to speak on the record, most thought it was unlikely that TCI's opposition would halt the deal "Obviously we'll have to wait and see, but I don't think it will make much difference. Deutsche Boerse appears very committed," said one London based broker. He forecast the takeover bid would succeed and was more concerned to see improvements in the daily running of the LSE. In voicing its opposition to the planned takeover, TCI said it would prefer to see Deutsche Boerse return 500m ( 350m) to shareholders. The Deutsche Boerse was prepared to pay for the LSE "exceeds the potential benefits of this acquisition", said TCI. Another Deutsche Boerse shareholder on Monday also appeared to back TCI's call. Another investor in Deutsche Boerse has supported the view that a payout to shareholders would be preferable to Deutsche Boerse overpaying for the LSE, Reuters news agency reported. "We prefer a sensible entrepreneurial solution at a price that is not too high," said Rolf Dress, a spokesman for Union Investment. "If that cannot be achieved, then we would wish for a distribution of liquid assets to shareholders." The Financial Times also reported a third Deutsche Boerse shareholder as opposed to the deal. It quoted a spokesman for US based hedge fund Atticus Capital complaining that the planned takeover appeared to be motivated by "empire building" rather than the best interests of shareholders. TCI has called for Deutsche Boerse to hold an emergency general meeting to discuss the bid for LSE. Yet under German business law, DB does not have to gain shareholder approval before making a significant acquisition. Deutsche Boerse said TCI's opposition would not change its bid approach. "Deutsche Boerse is convinced that its contemplated cash acquisition of the London Stock Exchange is in the best interests of its shareholders and the company," it said. DB's shares were up 3.4% to 45.25 euros by 1030 GMT, the highest gainer in Frankfurt.


The "best person for the job" should be appointed lord chancellor, and not necessarily a lawyer or MP, the courts minister has told MPs. Under reforms, the post of lord chancellor is to be stripped of its judicial functions. "The lord chancellor...no more needs to be a lawyer than the Secretary of Health needs to be a doctor," said courts minister Christopher Leslie. The Constitutional Reform Bill was entering its second reading on Monday. Mr Leslie said: "The prime minister should be able to appoint the best person for the job whether they sit in the House of Lords or the House of Commons." Under the reforms, the Law Lords will also be replaced as the UK's highest legal authority by a Supreme Court and judges will be appointed by an independent panel rather than ministers. In December the Lords rejected a plea by current Lord Chancellor Lord Falconer that the holder of the job should not necessarily be a lawyer or a peer. The peers voted by 229 to 206 to say in law that lord chancellors must also be peers. The debate was carried over from the last Parliamentary session, but with an impending general election time is crucial for the government to get the Bill passed. Mr Leslie said it was irrelevant whether the post was called Secretary of State for Constitutional Affairs or Lord Chancellor. He said: "What matters most is...whether it is reformed so that the post holder no longer has those conflicting duties. "It is no longer appropriate for a government minister to have such unfettered discretion in the appointment of judges." Shadow attorney general Dominic Grieve criticised the government on its plans to change what he said was an "exceptional institution," providing a "champion of the independence of the judiciary". The government had initially proposed to take this institution and "smash it to pieces," Mr Grieve said. Convention should be "nurtured and celebrated," but the government distrusted and disliked it instead. He warned that unless ministers backed down over the lord chancellor remaining a member of the House of Lords, the government would have "great difficulty" in getting the Bill through Parliament. Former Cabinet minister Douglas Hogg, whose father and grandfather served as lord chancellor, said the Bill was "largely unnecessary, bureaucratic and expensive". But the Tory MP for Sleaford and North Hykeham admitted the lord chancellor's role and office "cannot be frozen in aspic".


Record numbers of schools across the UK are to take part in a mock general election backed by the government. Some 600 schools have already signed up for the Y Vote Mock Elections 2005 run by the Hansard Society and aimed at boosting interest in politics. Pupils in the schools taking part will learn the skills of speech writers, canvassers and political candidates. Schools Minister Stephen Twigg said engaging young people's interest was "essential" to the future of democracy. He added: said "Young people who are engaged and motivated by the political process are essential to the future health of our democracy. "The mock elections initiative provides an opportunity for pupils to develop their own understanding of how the democratic process works and why it matters. "By experiencing the election process first hand from running a campaign to the declaration of the final result we hope that young people will develop the enthusiasm to take part in the future." The Hansard Society, the Electoral Commission and the Department for Education and Skills are running the programme. Pupils will stand as party candidates, speech writers and canvassers. Michael Raftery, project manager at the Hansard Society, said: "The Y Vote Mock Elections for schools mirror the excitement and buzz of a real election, raising awareness of citizenship, and the benefits of active democracy." The mock votes will take place around 5 May, widely expected to be the date of the general election. Information packs, including ballot papers and manifesto guides, with elections happening in early May were sent out to the 3,000 schools invited to take part.


Striker Nicolas Anelka reportedly wants to leave Manchester City in search of Champions League football. Anelka, 25, is in talks over a contract extension beyond 2007 with City but is believed to fear his career will go stale if he stays at the club. The News of the World reports that Anelka told a French magazine: "I either decide to win titles or to have an easy life. "I think I will always choose football, if a great club makes me an offer." He added: "To win titles you need players who have the capability of doing so. If we stagnate between eighth and 15th place it's impossible to progress. "If I am going to score goals and not win, there is a risk it is going to create a feeling of being fed up." Anelka has earned a reputation for being a difficult character to handle after spells at Arsenal, Real Madrid and Paris St Germain and he feels that is now coming back to haunt him. "I am in talks to sign an extension to my contract," he said. "I am well here but the sporting aspect also comes into account. "Playing for eighth place is good but I miss the Champions League. "I won it with Real Madrid in 2000 and I need to be playing in it and I should be playing in it. "I'm not in it because of things that have happened in the past and had nothing to do with football. "But I don't blame anyone. It's a bit my fault."


Second seed Andre Agassi suffered a comprehensive defeat by Jurgen Melzer in the quarter finals of the SAP Open. Agassi was often bamboozled by the Austrian's drop shots in San Jose, losing 6 3 6 1. Defending champion and top seed Andy Roddick rallied to beat Sweden's Thomas Enqvist 3 6 7 6 (8 6) 7 5. But unseeded Cyril Saulnier beat the fourth seed Vincent Spadea 6 2 6 4 and Tommy Haas overcame eighth seed Max Mirnyi 6 7 (2 7) 7 6 (7 3) 6 2. Melzer has now beaten Agassi in two of their three meetings. "I had a good game plan and I executed it perfectly," he said. "It's always tough to come out to play Andre. "I didn't want him to play his game. He makes you run like a dog all over the court." And Agassi, who was more than matched for power by his opponent's two handed backhand, said Melzer was an example of several players on the tour willing to take their chances against him. "A lot more guys are capable of it now," said the American. "He played much better than me. That's what he did both times. "I had opportunities to loosen myself up," Agassi added. "But I didn't convert on the big points."


Quarterly profits at US media giant TimeWarner jumped 76% to 1.13bn ( 600m) for the three months to December, from 639m year earlier. The firm, which is now one of the biggest investors in Google, benefited from sales of high speed internet connections and higher advert sales. TimeWarner said fourth quarter sales rose 2% to 11.1bn from 10.9bn. Its profits were buoyed by one off gains which offset a profit dip at Warner Bros, and less users for AOL. Time Warner said on Friday that it now owns 8% of search engine Google. But its own internet business, AOL, had has mixed fortunes. It lost 464,000 subscribers in the fourth quarter profits were lower than in the preceding three quarters. However, the company said AOL's underlying profit before exceptional items rose 8% on the back of stronger internet advertising revenues. It hopes to increase subscribers by offering the online service free to TimeWarner internet customers and will try to sign up AOL's existing customers for high speed broadband. TimeWarner also has to restate 2000 and 2003 results following a probe by the US Securities Exchange Commission (SEC), which is close to concluding. Time Warner's fourth quarter profits were slightly better than analysts' expectations. But its film division saw profits slump 27% to 284m, helped by box office flops Alexander and Catwoman, a sharp contrast to year earlier, when the third and final film in the Lord of the Rings trilogy boosted results. For the full year, TimeWarner posted a profit of 3.36bn, up 27% from its 2003 performance, while revenues grew 6.4% to 42.09bn. "Our financial performance was strong, meeting or exceeding all of our full year objectives and greatly enhancing our flexibility," chairman and chief executive Richard Parsons said. For 2005, TimeWarner is projecting operating earnings growth of around 5%, and also expects higher revenue and wider profit margins. TimeWarner is to restate its accounts as part of efforts to resolve an inquiry into AOL by US market regulators. It has already offered to pay 300m to settle charges, in a deal that is under review by the SEC. The company said it was unable to estimate the amount it needed to set aside for legal reserves, which it previously set at 500m. It intends to adjust the way it accounts for a deal with German music publisher Bertelsmann's purchase of a stake in AOL Europe, which it had reported as advertising revenue. It will now book the sale of its stake in AOL Europe as a loss on the value of that stake.


Jez San, the man behind the Argonaut games group which went into administration a week ago, has bought back most of the company. The veteran games developer has taken over the Cambridge based Just Add Monsters studios and the London subsidiary Morpheme. The Argonaut group went into administration due to a severe cash crisis, firing about half of its staff. In August it had warned of annual losses of 6m for the year to 31 July. Jez San is one of the key figures in the UK's games industry. The developer, who received an OBE in 2002, was estimated to have been worth more than 200m at the peak of the dotcom boom. He founded Argonaut in 1982 and has been behind titles such as 1993 Starfox game. More recently it was behind the Harry Potter games for the PlayStation. But, like all software developers, Argonaut needed a constant flow of deals with publishers. In August it warned of annual losses of 6m, blaming delays in signing new contracts and tough conditions in the software industry. The group's three subsidiaries were placed in administration a week ago, with Mr Sans resigning as the company's CEO and some 100 staff being fired. After the latest round of cuts, there were 80 workers at Argonaut headquarters in Edgware in north London, with 17 at its Morpheme offices in Kentish Town, London, and 22 at the Just Add Monsters base in Cambridge. Mr San has re emerged, buying back Morpheme and Just Add Monsters. "We are pleased to announce the sale of these two businesses as going concerns," said David Rubin of administrators David Rubin Partners. "This has saved over 40 jobs as well as the substantial employment claims that would have arisen had the sales not been achieved." Mr Rubin said the administrators were in talks over the sale of the Argonaut software division in Edgware and were hopeful of finding a buyer. "This is a very difficult time for all the employees there, but I salute their commitment to the business while we work towards a solution," he said. Some former employees are angry at the way cash crisis was handled. One told BBC News Online that the staff who had been fired had been "financially ruined in the space of a day".


France coach Bernard Laporte believes his team will be scared going into their game with England on Sunday, but claims it will work in their favour. The French turned in a stuttering performance as they limped to a 16 9 win against Scotland in the opening match of the Six Nations on Saturday. "We will go to Twickenham with a little fear and it'll give us a boost," said the French coach. He added: "We are never good enough when we are favourites." Meanwhile, Perpignan centre Jean Philippe Granclaude is delighted to have received his first call up to the France squad. "It's incredible," the youngster said. "I was not expecting it at all. "Playing with the France team has always been a dream and now it has come true and I am about to face England at Twickenham in the Six Nations." Laporte will announce his starting line up on Wednesday at the French team's training centre in Marcoussis, near Paris.


Russian oil firm Yukos lied to a US court in an attempt to stop the Russian government selling off its key production unit, the court has heard. The unit, Yugansk, was sold to pay off a 27.5bn ( 14.5bn) back tax bill. Yukos argued that since it had a US subsidiary and local bank accounts, the US court could declare it bankrupt and stop the auction of Yugansk. But Deutsche Bank itself a target of a Yukos lawsuit said documents had been backdated to strengthen the case. Deutsche Bank's evidence came on the first day of a two day hearing in Houston. Its lawyer, Hugh Ray, told the court that Yukos had claimed it had transferred 27m into two Texas bank accounts opened by its new US subsidiary. By doing so, he said, the firm had intended to reinforce its US presence and thus its chances of getting its case heard in US courts. But he said that the papers documenting the transaction were not drawn up till weeks after Yukos made its bankruptcy application on 14 December, and then backdated. Yukos chief financial officer Bruce Misamore, who had moved to the US in early December to set up Yukos USA, acknowledged the point. He said the discrepancy was only in the paperwork, but that money had indeed been transferred on 14 December. Even so, he told the court that only 480,000 had been in the accounts that day, with the rest arriving a day later. Deutsche Bank is involved in the case because it is itself being sued by Yukos. It had agreed to loan to an arm of Russian state gas firm Gazprom the money to bid for Yuganskneftegaz, as the Yukos unit is formally known. The sale went ahead, despite an order from the US bankruptcy court ordered that it should be stopped. In the end, the auction was won by an unknown shell company for 9.4bn much less than most assessments of its value before ending up in the hands of state controlled oil firm Rosneft. Rosneft, meanwhile, has agreed to merge with Gazprom, bringing a large chunk of Russia's very profitable oil business back under state control. Yukos maintains that it filed for bankruptcy in the US because it feared it would not be able to do so in Russia. It also said that in the event of going bust, it could offer the chance of restructuring. "It gives us a kind of life after death alternative," said Yukos chief executive Steven Theede. Yukos is currently suing four companies Gazprom, its unit Gazpromneft, Rosneft and the shell company which won the bidding for their part in Yugansk's disposal. It has also threatened to sue the Russian government for 28bn. Analysts have questioned whether a US court has any jurisdiction over Russian companies, while Moscow officials have dismissed Yukos' legal wrangling as meaningless. Yukos claims that the rights of its shareholders have been ignored and that is has been punished for the political ambitions of its founder Mikhail Khodorkovsky. Mr Khodorkovsky, once Russia's richest man, is in prison, having been charged with fraud and tax evasion and repeatedly denied bail.


Glenn Hoddle will be unveiled as the new Wolves manager on Tuesday. The club have confirmed that the former England coach will be unveiled as the successor to Dave Jones at a news conference at Molineux at 1100 GMT. Hoddle has been linked with a return to former club Southampton but Wolves have won the race for his services. He has been out of the game since being sacked at Spurs in September 2003 and worked alongside Wolves caretaker boss Stuart Gray at Southampton. Hoddle began his managerial career as player boss with Swindon before moving on to Chelsea and then taking up the England job. His spell in charge of the national side came to an end after the 1998 World Cup when he made controversial remarks about the disabled in a newspaper interview. The 47 year old later returned to management with Southampton, where he again succeeded Jones as he has now done at Wolves. He engineered an upturn in Saints' fortunes before being lured to White Hart Lane by Tottenham the club where he made his name as a player. That relationship turned sour at the start of the last campaign and he left the London club early last season. Since then he has applied unsuccessfully for the post of France manager and had also been linked with a return to Southampton. Wolves are currently 17th in the Championship and have a home game against Millwall on Tuesday.


A Plaid Cymru MP believes UK security services were involved in some arson attacks blamed on Welsh extremists. It is 25 years since the start of 12 years of fire bombings, attributed to a shadowy group known as Meibion Glyndwr. Plaid Cymru's Elfyn Llwyd has suggested the security services could have been involved, with the intention of discrediting the nationalist vote. Ex Welsh Office Minister Lord Roberts of Conwy denied security services were involved. In March this year, North Wales Police reopened the case, saying materials kept during their investigations would be examined to find whether it would yield DNA evidence. Meibion Glyndwr which means "sons of Glyndwr" began burning property in December 1979 in protest at homes in rural Wales being sold as holiday cottages to people from England. The group was linked to most of the 220 or so fire bombing incidents stretching from the Llyn Peninsula to Pembrokeshire. The campaign continued until the early 1990s. Police were accused in some quarters of targeting anyone who was a nationalist. Although one man, Sion Aubrey Roberts, was convicted in 1993 of sending letter bombs in the post, the arson cases remain unsolved. As a solicitor, Elfyn Llwyd represented Welsh singer Bryn F 244;n when he was arrested on suspicion of being involved in the arson campaign. F 244;n was released without charge . But now, as MP for Merionnydd Nant Conwy and Plaid Cymru's Parliamentary Leader, Mr Llwyd has argued that some of the terror attacks may have had the involvement of the security services and not Meibion Glyndwr. He believes that elements of the British security services may have carried out renegade actions in order to discredit Plaid Cymru and the nationalist vote ahead of elections. The claim is made in an interview for BBC Wales' Maniffesto programme to be shown on S4C on Sunday. Mr Llwyd said that the sophistication of many of the devices used in the attacks compared to the crude nature of many others, suggests a degree of professionalism which could only have come from individuals who knew exactly what they were doing. He said: "What I'm saying is that the role that they took wasn't the appropriate one, i.e. like an agent provocateur and perhaps interfering and creating a situation where it looked like it was the nationalists that were responsible." The programme also heard from Lord Roberts of Conwy, who was a Welsh Office minister at the time. He denied that the security services played any improper role. Mr Llwyd's theory has also been questioned by Plaid Cymru's former President, Dafydd Wigley. He accepted that the fires damaged Plaid Cymru's public image but believed that the security services had their hands full at the time with the IRA and animal rights activists. Maniffesto can be seen on S4C on Sunday, 12 December, at 1200 GMT.


The fixed line phone in your home could soon be an endangered species. Research by handset maker Nokia shows that more and more people are using their mobile phone for every call they make or take. According to the study, more than 45 million people in the UK, Germany, US and South Korea now only use a mobile. It showed that people keep their fixed line phone because call charges are lower, but most of those questioned said the future was definitely mobile. The Nokia sponsored research showed that mobiles and fixed phones were used for different purposes. Home phones were used for longer calls but conversations on mobiles tended to be shorter, between mobiles and to friends. In the UK 69% of those questioned said they turned to their fixed phone because it was still cheaper to use than a mobile. However, when pressed few could say with accuracy how tariffs on fixed and mobile phones compared. In the US and Germany many of those interviewed said they used the fixed phone because it was more reliable than a mobile handset and let them get access to the net at relatively high speeds. In all the countries where interviews were carried out, older people were more likely to use a fixed line phone more than a mobile. Women aged 50 or above almost never use a mobile phone, the research found. The move to mobile was most pronounced in South Korea where 65% of those questioned said they already make most of their calls from a mobile. 18% said they would not get a landline if they moved house. Many of those questioned said they had an emotional connection to their fixed phone that drew on its position in the home and the "cosiness" of making a call there. Nokia said these findings had implications for mobile operators who must work hard to ensure that mobiles are seen as cheap, reliable and providing good call quality. The survey also showed that it is not just voice calls that are going wireless. Some of those questioned said they were looking to use a mobile or wireless service to get net access within the next couple of years. Polling firm Mori interviewed more than 6,000 people in the UK, US, Germany and South Korea for the survey.


They may not know quite how to describe their position in British politics the real opposition, the valid opposition, the effective opposition or the authentic opposition. But the Liberal Democrats are entering the expected 2005 election campaign determined to prove it is they, not the Tories, who are now the real threat to Labour. As Tory leader Michael Howard kicked off his election campaign, the Lib Dem leader Charles Kennedy dismissed the Conservatives as a "fading" force. And he insisted there was "no limit" to his party's ambitions in the coming poll. And he can produce some pretty impressive recent election results to back up his optimism for an election which he believes might just see his party doing big things. Sensible third party leaders are usually cautious about making any predictions about how they will do come the big test. And Mr Kennedy was not falling into that trap when he fired up his campaign from the party's Westminster HQ. He would make no predictions other than that he expected the Lib Dems to increase both their votes and their Commons seats at the election. The gap between Labour and the Tories was now so narrow as proved, he claimed, by the defection to Labour of Robert Jackson that only his party offered a genuine alternative. On the war on Iraq, identity cards, student fees and the council tax, there was nothing to chose between the two big parties whereas the Liberal Democrats offered costed, sensible alternatives. He was also happy to break the two party consensus on taxation by promising to increase income tax on those earning more than 100,000 a year to pay for the scrapping of student fees, the introduction of free personal care for the elderly and replacing the council tax with a local income tax. He was also happy to offer a pledge that he would be doing no deals to "prop up" either of the other big parties after the election. There was a time when such optimistic sounds coming from the third party could be dismissed as self delusion. That is no longer the case with the Liberal Democrats. The other parties will still insist that the Lib Dems are no hopers whose greatest effect on the poll will be to boost the hopes of their opponents by denying them otherwise winnable seats. Labour, in particular, fears that disillusioned supporters may switch to the Lib Dems allowing the Tories to win some seats. But Mr Kennedy is clearly hoping for a more significant outcome than that. He will not talk about the big breakthrough, although there are those who believe this could well be the election that sees his party crossing some sort of symbolic threshold. They would argue that, by the time of the election after next, the Liberal Democrats may genuinely have replaced the Tories as the party challenging Labour for power. The Lib Dems will hope to have made advances because of their consistent stand against the war on Iraq. But Mr Kennedy believes his new manifesto will also offer sensible, costed and achievable policies on things like the council tax, crime and asylum that will underpin his claim that his party really is the only opposition worth the name.


Liverpool forward Milan Baros is uncertain whether he remains part of boss Rafa Benitez's plans after being dropped for the Carling Cup final. Baros, who is Liverpool's leading scorer this season, denied reports of a row with Benitez but claims he is mystified at being left on the bench. He told Czech newspaper Daily Sport: "I don't know why I didn't play on Sunday. I didn't argue with anybody. "I was disappointed but I am not thinking of leaving right now." The Czech international came on as a substitute after 74 minutes but could not prevent his side losing 3 2 to Chelsea after extra time. Baros denied suggestions he wanted to leave the Millennium Stadium before the match upon learning of his omission from the starting line up. But his admission that he "guessed something like this was going to happen on Saturday", will do little to quell claims of a falling out with Benitez. And although Baros insisted thoughts of quitting Anfield are "not in my mind right now", he admitted "everything is possible".


Charlton manager Alan Curbishley paid tribute to two goal striker Jonatan Johansson after beating Norwich. Curbishley said after the 4 0 win: "There was talk about Norwich being interested in the summer but I have a lot of faith in Jonatan. "When there was talk of other clubs I just told him he was going nowhere. "He's part of our squad and he got us a couple of important goals early on. I'm sure he's happy here, but I was delighted with all the players." Curbishley was subjected to criticism from Charlton fans recently, and he said: "The thing about this club is that we have got where we are by all pulling in the same direction. "That's happened for however long I've been here and we don't want people taking sides."


Serena Williams staged a remarkable recovery to beat Lindsay Davenport and win her second Australian Open title. The 2003 champion claimed her seventh Grand Slam title, and her first since Wimbledon in 2003, 2 6 6 3 6 0. Williams had looked close to quitting with a rib injury when she left the court for treatment after five games. She quickly dropped the first set but from 3 3 in the second found another gear as Davenport's game collapsed, allowing Williams to take the title. Williams later explained her injury problem, saying it was the result of lunging for a ball early in the first set. "Lindsay had me on the run out wide on my backhand and my back went but eventually I was able to come back, thank goodness," she said. Davenport paid tribute to Williams, saying: "She's had a tough couple of years and she's come back like a champion." The 23 year old former world number one was in desperate trouble in the early stages as the injury hampered her service action. Davenport took advantage to race through the opening set and held six break points in game five of the second. "I kept thinking to myself 'I'm not losing this game," said Williams afterwards. "'I don't care if my arm falls off, I'm not losing this game'. And I guess that's what happened. "I didn't want to lose that particular game because it would have given her a lot of momentum, and a lot of confidence." Despite letting the break points slip away Davenport looked comfortable enough at 3 3, but from 40 0 up she just folded. Williams won nine consecutive points for the set and powered through the decider as a lacklustre Davenport looked to have run out of energy after a gruelling two weeks. "I felt like I was playing well and in control pretty much of the match," said Davenport. "Then I just had that horrible lapse, I think serving up 40 0, and made a few errors and opened up the door for her and she just kept going through it. "At the end I think I was a little bit fatigued but she took advantage of it and kept going she's a great frontrunner when she gets going."


Leicester say they will not be rushed into making a bid for Andy Farrell should the Great Britain rugby league captain decide to switch codes. "We and anybody else involved in the process are still some way away from going to the next stage," Tigers boss John Wells told BBC Radio Leicester. "At the moment, there are still a lot of unknowns about Andy Farrell, not least his medical situation. "Whoever does take him on is going to take a big, big gamble." Farrell, who has had persistent knee problems, had an operation on his knee five weeks ago and is expected to be out for another three months. Leicester and Saracens are believed to head the list of rugby union clubs interested in signing Farrell if he decides to move to the 15 man game. If he does move across to union, Wells believes he would better off playing in the backs, at least initially. "I'm sure he could make the step between league and union by being involved in the centre," said Wells. "I think England would prefer him to progress to a position in the back row where they can make use of some of his rugby league skills within the forwards. "The jury is out on whether he can cross that divide. "At this club, the balance will have to be struck between the cost of that gamble and the option of bringing in a ready made replacement."


The stock market in Jakarta has seen its biggest slide in a month, after the country doubled the likely cost of rebuilding from the Asian tsunami. The fall came as Indonesia said it expected debt repayments of up to 30 trillion rupiah ( 3.2bn; 1.7bn) to be frozen to help pay for the recovery. By Monday's close, the Jakarta Stock Exchange was down 2.1% at 1,011.15. Bar a slight dip at the New Year, The JSE had risen steadily by 4.7% since the tsunami hit on 26 December. Construction and property companies in particular have gained ground, although banks were among the main fallers on Monday. So far, more than 100,000 people are believed to have been killed in Indonesia, the country closest to the earthquake which triggered the great wave. On Friday, the government said its five year estimate of rebuilding costs for Banda Aceh province much of which was flattened by the quake and the tsunami was 20 trillion rupiah ( 2.2bn; 1.1bn), twice what it had previously estimated. That cost could be defrayed by temporary debt relief. On Monday, Indonesian economy minister Aburizal Bakrie told reporters that the Paris Club group of creditor countries was expected to freeze 20 30bn rupiah in payments due in 2005 and 2006. "We hope we can resume the repayments at least from 2007," Mr Bakrie said. French finance minister Herve Gaymard said on Sunday that the Paris Club had already agreed to a moratorium on repayments for tsunami hit countries ahead of its meeting on 12 January.


Another front in the on going battle between Microsoft and Google is about to be opened. By the end of 2004 Microsoft aims to launch search software to find any kind of file on a PC hard drive. The move is in answer to Google's release of its own search tool that catalogues data on desktop PCs. The desktop search market is becoming increasingly crowded as Google, AOL, Yahoo and many smaller firms tout programs that help people find files. Microsoft made the announcement about its forthcoming search software during a call to financial analysts to talk about its first quarter results. John Connors, Microsoft's chief financial officer said a test version of its desktop search software should be available for download by the end of the year. "We're going to have a heck of a great race in search between Google, Microsoft and Yahoo," he said. "It's going to be really fun to follow." Microsoft is coming late to the desktop search arena and its software will have to compare favourably with programs from a large number of rivals, many of which have fiercely dedicated populations of users. The program could be based on the software Microsoft owns as a result of its purchase of Lookout Software in early October. On 14 October Google released desktop search software that catalogues all the files on a PC and lets users use one tool to find e mail messages, spreadsheets, text files and presentations. The software will also find webpages and messages sent via AOL Instant Messenger. Many other firms have released desktop search systems recently too. Companies such as Blinkx, Copernic, Enfish X1 Technologies and X Friend all do the same job of cataloguing the huge amounts of information that people increasingly store on their desktop or home computer. Apple has also debuted a similar search system for its computers called Spotlight that is due to debut with the release of the Tiger operating system. Due to follow are net giants AOL and Yahoo. The latter recently bought Stata Labs to get its hands on search software that people can use. Microsoft is also reputedly working on a novel search system for the next version of Windows (codenamed Longhorn). However this is not likely to appear until 2006. "The recent activity in the search industry shows that there is a need to move beyond simple keyword based web search," said Kathy Rittweger, co founder of Blinkx. "Finding information of our own computers is becoming as difficult as it is to find the relevant webpage amongst the billions that exist." Desktop search has become important for several reasons. According to research by message analysts the Radicati Group up to 45% of the information critical to keeping many businesses running sits in e mail messages and attachments. JF Sullivan, spokesman for e mail software firm Sendmail said many organisations were starting to realise how important messaging was to their organisation and the way the work. "The key thing is being able to manage all this information," he said. Also search is increasingly key to the way that people get around the internet. Many people use a search engine as the first page they go to when getting on the net. Many others use desktop toolbars that let them search for information no matter what other program they are using. Having a tool on a desktop can be a lucrative way to control where people go online. For companies such as Google which relies on revenue from adverts this knowledge about what people are looking for is worth huge amounts of money. But this invasiveness has already led some to ask about the privacy implications of such tools.


Southampton are set to unveil Harry Redknapp as their new manager at a news conference at 1500 GMT on Wednesday. The former Portsmouth boss replaces Steve Wigley, who has been relieved of first team duties after just one win in 14 league games in charge. Redknapp, 57, quit his Fratton Park position on 24 November and vowed: "I will not go down the road no chance." Pompey coach Kevin Bond is poised to join Redknapp, who will be Saints' third boss of the season. Redknapp's first game in charge will be at home to Middlesbrough on Saturday. Portsmouth chairman Milan Mandaric said he was "disappointed" by the news and claimed Redknapp had been in talks with Southampton for "some time". "It would appear that negotiations over this have been going on for some time," Mandaric said on Portsmouth's official website. "I am surprised and a little shocked that the chairman of Southampton has not picked up the phone and kept me informed." According to Mandaric, Redknapp vowed he would not join their South coast rivals when he left Portsmouth. "I said to Harry 'I hope you don't go to Southampton', and he told me 'absolutely not'," he said. "I'm wouldn't say I'm bitter, disgusted or angry, just disappointed, but it's Harry's life and it's his decision." Redknapp became a cult hero after leading Portsmouth into the Premiership for the first time, and then masterminding their survival in their debut season. But he left the club claiming he needed a break from football, though many believed he was upset with Mandaric's decision to bring in Velimir Zajec as executive director. Southampton chairman Rupert Lowe was desperate to give former academy director Wigley, who replaced Paul Sturrock just two games into the season, every chance to succeed at St Mary's. But results under Wigley have been poor and Southampton are deep in trouble near the foot of the table. When Redknapp's appointment is confirmed, he will be Saints' ninth manager in eight years.


British car maker Aston Martin has gone head to head with Porsche's 911 sports cars with the launch of its cheapest model yet. With a price tag under 80,000, the V8 Vantage is tens of thousands of pounds cheaper than existing Aston models. The Vantage is "the most important car in the history of our company", said Aston's chief executive Ulrich Bez. Aston whose cars were famously used by James Bond will unveil the Vantage at the Geneva Motor Show on Thursday. Mr Bez himself a former executive at rival Porsche said the new car was the company's "most affordable car ever and makes the brand accessible". This in turn would make Aston Martin "globally visible, but still very, very exclusive", he added. First shown as a concept car at the 2003 North American International Auto Show in Detroit, the V8 Vantage will be available in the UK in late summer. Development costs for the Vantage have been kept low by sharing a platform with Aston's DB9, which Mr Bez described as "the previous most important car for our company". There is currently an 18 months waiting list for the DB9, Mr Bez said. The Vantage will be built at the new Aston factory in Gaydon, near Warwick, and should more than double Aston's total output from about 2,000 presently.


Tony Blair has said he looks forward to continuing his strong relationship with George Bush and working with him during his second term as president. Mr Bush's re election came at a crucial time for a world that was "fractured, divided and uncertain", Mr Blair said. It had to be brought together, he added, saying action was needed on poverty, the Middle East and the conditions on which terrorists prey. Mr Blair said states had to work with the US to fight global terrorism. But there was a need to recognise it would not be defeated by "military might alone but also by demonstrating the strength of our common values" he added. Solving the conflict in the Middle East was the world's single most "pressing political challenge" of the present day, Mr Blair warned. The prime minister also urged Europe and the US to "build anew their alliance". "All of us in positions of leadership, not just President Bush, have a responsibility to rise to this challenge. It is urgent that we do so." Mr Blair also paid tribute to Democrat John Kerry's campaign, saying he had helped make the presidential election "a true celebration of American democracy". The election of the US president was significant for the world but particularly so for Britain because of its special relationship, he added. Earlier Tory leader Michael Howard sent Mr Bush his "warmest congratulations", saying: "We look to the president to be a unifying force for those all over the world who share our determination to defend freedom." Liberal Democrat leader Charles Kennedy welcomed the fact there had been a quick conclusion to the election, unlike in 2000. Mr Bush's first task was to "rebuild a sense of domestic purpose" within the US, he said. Mr Kennedy said: "Internationally, it is to be hoped that a second term will see a more sensitive approach to relations with long standing allies, not least for the global efforts to combat terrorism." Lib Dem foreign affairs spokesman Menzies Campbell said a win by Mr Kerry would have given Mr Blair the chance of a fresh start, adding it was almost as if there was an "umbilical cord" between Mr Bush and the UK premier. "Europeans must hope that his administration will be much more multilateral in character, and that he will act swiftly to rebuild the Atlantic partnership which is so vital to security. "Iraq will remain an issue of potential division for some time to come." Even before the result became clear, Mr Blair was being urged to push for action on climate change at his first meeting with whichever candidate won. Liberal Democrat environment spokesman Norman Baker underlined the issue of global warming during a Commons debate on Anglo American relations on Wednesday. Environment Secretary Margaret Beckett has said the US will act on global warming despite George Bush's refusal to sign up to the Kyoto protocol on carbon emissions. Public opinion would force change, she told BBC news. But Myron Ebell, an adviser on climate change to President Bush, has said there would be no change in the US stance and rejected the threat of climate change. He claimed the US was the only country with independent scientists.


England coach Andy Robinson said he was "livid" after his side were denied two tries in Sunday's 19 13 Six Nations loss to Ireland in Dublin. Mark Cueto's first half effort was ruled out for offside before the referee spurned TV replays when England crashed over in the dying minutes. " I'm absolutely spitting. I'm livid. There's two tries we've been cost," Robinson told BBC Sport. "We've got to go back to technology. I don't know why we didn't." South African referee Jonathan Kaplan ruled that Cueto was ahead of Charlie Hodgson when the fly half hoisted his cross field kick for the Sale wing to gather. Kaplan then declined the chance to consult the fourth official when Josh Lewsey took the ball over the Irish line under a pile of bodies for what could have been the game winning try. "I think Mark Cueto scored a perfectly legal try and I think he should have gone to the video referee on Josh Lewsey," said Robinson. "It is how we use the technology. It is there, and it should be used. "I am still trying to work out the Cueto try. I have looked at both, and they both looked tries. "We are very disappointed, and this will hurt, there is no doubt about that. "We are upset now, but the referee is in charge and he has called it his way and we have got to be able to cope with that. "We did everything we could have done to win the game. I am very proud of my players and, with a couple of decisions, this could have been a very famous victory. "I thought we dominated. Matt Stevens had an awesome game at tighthead prop, while the likes of Charlie Hodgson, Martin Corry and Lewis Moody all came through well. "Josh Lewsey was awesome, and every one of the forwards stood up out there. Given the pressure we were under, credit must go to all the players. "We have done everything but win a game of rugby, but Ireland are a good side. They defended magnificently and they've got every chance of winning this Six Nations." England have lost their first three matches in this year's Six Nations and four out of their six games since Robinson took over from Sir Clive Woodward in September.


Michael Howard has finally revealed the full scale of his planned Tory tax cuts. Should he win the next general election, he has earmarked 4 billion that will be used to reduce taxes although he still will not say which or how. This was the pre election message many in his party have been pressing for and voters, he believes, will warm to. At its simplest, it is saying: "Vote Tory and you can have it both ways". Not only would his government stick to Labour spending plans on core public services, including health and education, it would increase spending on defence, police and pensions. And even after that was done, it would still have enough left over for a tax cut equivalent to about a penny off the basic rate of income tax. All the money would come from its 35 billion efficiency savings which would see the axe taken to bureaucracy, waste and the civil service. Of that, 23 billion would go on spending plans, with 8 billion to fill the black hole left, they claim, by Gordon Brown, and the rest going in tax cuts. Neither Mr Howard nor Mr Letwin would say exactly how they would use that cash, although a cut in the basic rate seems unlikely. Ideas already floated include raising tax thresholds and abolishing or reducing inheritance tax, although some in the Tory party are urging Mr Howard to announce something more eye catching before the election. As the Tory leader declared, the aim of the exercise is to open up a real economic policy divide between Labour and the Tories. "At this election, people will have a clear choice between Mr Blair who will waste more and tax more and the Conservative party which will give value for money and tax less," he said. It is a move back towards an almost traditional Tory message which previously suggested Labour was the party of tax rises and the Conservatives the party of tax cuts. The extension of that, however, was that Labour was also seen as the party of big spending on the public services while the Tories were the cutters. And that is where one of the problems lies for Mr Howard can he persuade sceptical voters that they really can have it both ways with bigger spending on public services AND lower taxes? He insists he will not promise anything before the election that he cannot deliver if put into Downing Street. Labour, needless to say, claim his planned 35bn efficiency savings simply don't add up and that those sorts of figures are fantasy. One of New Labour's greatest successes before the historic 1997 election was to persuade voters, business and the City that it could be trusted to run the economy. So far that has not faced any real challenge, but independent analysts now claim a third New Labour government would be forced to either increase taxation or taxes to plug a black hole it has at the centre of its finances. Meanwhile, the Liberal Democrats are committed to increasing taxes for the most well off to finance their spending proposals launched earlier in the day. So, Mr Howard hopes his message will start to hit home during this unofficial election campaign and that his poll ratings might finally lift off the floor. And, while other issues like the Iraq war and trust will play a major part in that campaign, it is likely and the prime minister probably hopes that the economy will be the deciding factor.


US retail sales fell 0.3% in January, the biggest monthly decline since last August, driven down by a heavy fall in car sales. The 3.3% fall in car sales had been expected, coming after December's 4% rise in car sales, fuelled by generous pre Christmas special offers. Excluding the car sector, US retail sales were up 0.6% in January, twice what some analysts had been expecting. US retail spending is expected to rise in 2005, but not as quickly as in 2004. Steve Gallagher, US chief economist at SG Corporate Investment Banking, said January's figures were "decent numbers". "We are not seeing the numbers that we saw in the second half of 2004, but they are still pretty healthy," he added. Sales at appliance and electronic stores were down 0.6% in January, while sales at hardware stores dropped by 0.3% and furniture store sales dipped 0.1%. Sales at clothing and clothing accessory stores jumped 1.8%, while sales at general merchandise stores, a category that includes department stores, rose by 0.9%. These strong gains were in part put down to consumers spending gift vouchers they had been given for Christmas. Sales at restaurants, bars and coffee houses rose by 0.3%, while grocery store sales were up 0.5%. In December, overall retail sales rose by 1.1%. Excluding the car sector, sales rose by just 0.3%. Parul Jain, deputy chief economist at Nomura Securities International, said consumer spending would continue to rise in 2005, only at a slower rate of growth than in 2004. "Consumers continue to retain their strength in the first quarter," he said. Van Rourke, a bond strategist at Popular Securities, agreed that the latest retail sales figures were "slightly stronger than expected".


A major change of direction is needed in Britain if it is to prosper, the shadow chancellor said as the Tory Party spring conference began. Oliver Letwin said the UK could not compete with other countries without the 4bn tax cuts he was promising. Tory co chairman Liam Fox had opened the forum in Brighton with an attack on Labour's record and party leader Michael Howard is due to speak later. Tony Blair has said Conservative policies would cause economic failure. But Mr Letwin said Britain had fallen from fourth to 11th in the international economic competitiveness league. "Can this country compete, can this country prosper, unless we do something about the burden of regulation and tax on our economy?" he said. "If we are going to take on the great challenges, the challenges like those posed by the Chinese and the Indians, we have got to do something about getting down the burden of regulation and getting down the burden of tax," he said. "The fact is the very carefully costed, fully funded plans we have laid out for saving 12bn by 2007 2008 are absolutely crucial to delivering an economy that will prosper and provide people with jobs and indeed provide the public services with the money they need on a sustainable long term basis." Mr Letwin said voting for Labour meant choosing higher taxes, borrowing and waste. Earlier, Dr Fox had said Labour's rule had been characterised by "lost trust and failure to deliver". He also attacked the government's "failure" to control immigration and asylum and criticised its record on the NHS, telling delegates Labour cannot be trusted on education or crime. A Tory government would sort out the "shambles" of immigration, put patients before statistics and bring discipline to schools, he said. Michael Howard, who had been due to welcome delegates to the conference on Friday, will address them in a lunchtime speech. His welcome address had to be postponed after he stayed in London to lead the party's opposition to the Prevention of Terrorism Bill in its lengthy progress through Parliament. The bill was finally passed on Friday evening, after more than 30 hours of debate. Mr Howard is likely to defend his party's handling of the bill, which was only passed after the Conservatives accepted Prime Minister Tony Blair's promise that MPs would be able to review it within a year.


Ways of ensuring that parents know which video games are suitable for children are to be considered by the games industry. The issue was discussed at a meeting between UK government officials, industry representatives and the British Board of Film Classification. It follows concerns that children may be playing games aimed at adults which include high levels of violence. In 2003, Britons spent 1,152m on games, more than ever before. And this Christmas, parents are expected to spend millions on video games and consoles. Violent games have been hit by controversy after the game Manhunt was blamed by the parents of 14 year old Stefan Pakeerah, who was stabbed to death in Leicester in February. His mother, Giselle, said her son's killer, Warren Leblanc, 17 who was jailed for life in September had mimicked behaviour in the game. Police investigating Stefan's murder dismissed its influence and said Manhunt was not part of its legal case. The issue of warnings on games for adults was raised on Sunday by Trade and Industry Secretary Patricia Hewitt. This was the focus of the talks between government officials, representatives from the games industry and the British Board of Film Classification. "Adults can make informed choices about what games to play. Children can't and they deserve to be protected," said Culture Secretary Tessa Jowell after the meeting. "Industry will consider how to make sure parents know what games their children should and shouldn't play." Roger Bennett, director general of Entertainment and Leisure Software Publishers Association, said: "A number of initiatives were discussed at the meeting. "They will be formulated to create specific proposals to promote greater understanding, recognition and awareness of the games rating system, ensuring that young people are not exposed to inappropriate content." Among the possible measures could be a campaign to explain to parents that many games are made for an adult audience, as well as changes to the labelling of the games themselves. According to industry statistics, a majority of players are over 18, with the average age of a gamer being 29. Academics point out that there has not been any definitive research linking bloodthirsty games such as Manhunt with violent responses in players. In a report published this week for the Video Standards Council, Dr Guy Cumberbatch said: "The research evidence on media violence causing harm to viewers is wildly exaggerated and does not stand up to scrutiny." Dr Cumberbatch, head of the social policy think tank, the Communications Research Group, reviewed the studies on the issue. He concluded that there was an absence of convincing research that media violence caused harm.


Manchester United's board has agreed to give US tycoon Malcolm Glazer access to its books. Earlier this month, Mr Glazer presented the board with detailed proposals on an offer to buy the football club. In a statement, the club said it would allow Mr Glazer "limited due diligence" to give him the opportunity to take the proposal on to a formal bid. But it said it continued to oppose Mr Glazer's plans, calling his assumptions "aggressive" and his plan "damaging". Many of Manchester United's supporters own shares in the club, and the fan based group Shareholders United is strongly opposed to any takeover by Mr Glazer. About 300 fans protested outside the Old Trafford ground two days ago. Rival local club Manchester City has pleaded with visiting fans not to protest inside its ground when the two teams play a televised match on Sunday. Manchester United's response comes as little surprise, as the board made clear. "Any board has a responsibility to consider a bona fide offer proposal," the club said in its statement. Should it become a firm offer, it should be at a price that "the board is likely to regard as fair" and on terms which "may be deliverable". But it also stressed that it stayed opposed to Mr Glazer's proposal. "The board continues to believe that Mr Glazer's business plan assumptions are aggressive," the statement said, "and the direct and indirect financial strain on the business could be damaging." Whether or not the bid is attractive in monetary terms, in the case of Manchester United many investors hold the stock for sentimental rather than financial reasons. At present, Mr Glazer and his family hold a 28.1% stake, making them Manchester United's second biggest shareholders. They own the successful Tampa Bay Buccaneers American football team based in Florida. If the family makes a formal offer, they will need the support of the club's biggest shareholders. Irish horse racing millionaires JP McManus and John Magnier own 29% of United through their investment vehicle Cubic Expression, and have yet to express a view on the bid approach. A group of five MPs are calling on the Department of Trade and Industry to block any takeover of the club by the US football magnate on public interest grounds. They have signed a House of Commons motion, and Tony Lloyd, the Manchester Central MP, whose constituency includes the club's Old Trafford ground, has pledged to take the matter "to Tony Blair if necessary". The Commons motion says "any takeover designed to transform the club into a private company would be against the interests of those supporters and football". However, the DTI has dismissed the proposal. A spokesman said the department did not believe there was a case for changing the Enterprise Act so that takeovers of football clubs could be looked at on non competition grounds. Mr Glazer's offer values the club at 800m ( 1.5bn). Pitched at 300p per share, it also relies less on debt to finance it than an earlier approach from the US tycoon, which was rejected out of hand. Manchester United shares closed at 270.25p on Friday, down 3.75p on the day.