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Ministers’ silence is deafening, says RICHARD MADELEY



I'VE NEVER seen or heard anything like it. Or rather, NOT heard. I was on the green roof of London: Kite Hill, the highest spot on Hampstead Heath, and summit of my daily permitted exercise routine.




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Letters: National Gun Violence Survivors Week: a call for common sense gun legislation

An average of 907 Hoosiers are killed by guns each year, and 85 of those are children, a letter to the editor says.

      




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Letters: Solutions to Indy's violence go beyond law enforcement

When people have no respect for lives of others, it explains why the smallest disagreement can result in violent acts, a letter to the editor says.

      




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Why IndyStar will focus on violence in a yearlong project called The Toll

The goal of the project is to peel back the layers of violence and explain why it is occurring.

       




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IMPD's new chief understands the pain of violence. His father-in-law was murdered.

Randal Taylor, who became police chief last week, has felt the grief that lies behind every shooting in Indianapolis.

       




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Butler 2010 rewind: Bulldogs escape challenge by Murray State, 54-52

The Indianapolis Star is re-posting game stories from the 10-year anniversary of Butler's run to the 2010 NCAA championship game.

      




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IndyCar rookie Scott McLaughlin out-duels Will Power for win in Barber iRacing Challenge

Robert Wickens made the surprise charge of the race, taking eighth, but it was Scott McLaughlin clinching his first IndyCar victory of any sort Saturday.

      




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Dale Earnhardt Jr. will join IndyCar field in Saturday's iRacing Challenge at Michigan

Another NASCAR legend will join IndyCar's iRacing Challenge event on Saturday, the first one held on an oval track.

       




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Gene Nolen, legendary USAC Silver Crown team owner, dies at 77

Though he never won an entrant title, Gene Nolen was known in the USAC racing world as one of the series' best owners.

       




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IndyCar iRacing Challenge audience grows 25% in Dale Earnhardt Jr.'s open-wheel debut

Broadcast on NBC Sports for the second consecutive week, IndyCar's iRacing audience grew 25% from the previous week.

       




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Has interest in IndyCar's iRacing Challenge peaked? Latest broadcast takes ratings dive

After four races in its six-race iRacing Challenge, IndyCar fans may be starting to lose interest in the esports version of the sport.

       




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McLaren Formula 1 driver Lando Norris joining IndyCar's iRacing Challenge Saturday

McLaren Formula 1 driver Lando Norris becomes the latest special guest driver in IndyCar's iRacing Challenge.

       




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Simon Pagenaud goes back-to-back with his IndyCar iRacing Challenge win at Twin Ring Motegi

Once again, Simon Pagenaud's patient in-race strategy paid dividends during the late chaos for a second consecutive victory in IndyCar's iRacing Challenge.

       




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Lando Norris, Colton Herta reunited in this weekend's IndyCar iRacing Challenge

The two young drivers rose to stardom driving for Carlin Racing in Europe's several lower Formula series from 2015-16.

       




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McLaren Formula 1 driver Lando Norris wins IndyCar iRacing Challenge at COTA

In his first dip into the IndyCar world, McLaren Formula 1 driver Lando Norris beat series regulars at Circuit of the Americas.

       




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IndyCar iRacing Challenge: Scott McLaughlin conquers wild First Responder 175 at IMS

Multiple late wrecks allow McLaughlin to capitalize

       




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Tully: In the fight against gun violence, can't we reach for greatness?

The latest school shooting seemed to come with a feeling of resignation that nothing will change. We can't let that feeling dominate.

      




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Tully: 'Relentless' education champion David Harris on leaving The Mind Trust

A big change in Indianapolis' education landscape is a reminder of how much things have improved in recent years.

      




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Browne not going to Glencore

Yes you read the headline correctly.

It turns out that Lord Browne isn't going to be chairman of Glencore after all

And, of course, if you think I look like a plonker, that's fair enough.

Here is what happened.

Glencore's announcement that it plans to list on the London and Hong Kong stock exchanges said this:

"Glencore has made its decision regarding the new chairman and is in the final stages of making the appointment, which will be communicated shortly".

I was told by impeccable sources that the chosen candidate was Lord Browne. And that is definitely the case.

However those "final stages of making the appointment" were not the formality that I and my sources believed.

When it came to the final talks between Lord Browne and Glencore, there was a disagreement about governance issues.

Anyway, Glencore came to the view that Browne wasn't quite right for it. My sense is that Lord Browne was more of a stickler for detail than this entrepreneurial company felt comfortable with.

So what on earth happens now?

Well Glencore can't float without a chairman.

Before Lord Browne became the preferred candidate, Simon Murray - the Hong Kong business leader - was the favourite to take the job.

Does he still want the job? Does Glencore want him?

I don't know, but I will endeavour to find out.

It's all a cracking corporate soap opera. But probably not the ideal curtain-raiser for the biggest flotation the London market has ever seen.

Update 15:15: Glencore has now appointed Simon Murray, former managing director of the Asian giant Hutchison Whampoa, as its chairman.




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The corporate story behind GDP challenge

A clutch of big company results today illustrate the big economic trends in the UK and the world - and also say something about what the UK economy needs if its insipid recovery is to become something a bit stronger.

First the good news.

ARM, the world-leading designer of electronic chips for smartphones, tablets and consumer devices, saw revenues rise 29% in the first three months of the year and profits increase 35% (to £51m).

If we had a few more ARMs in this country, we would be agonising less about the imperative of "rebalancing" the structure of our wealth-creation away from financial services and the City.

That said, we'd need an incredible number of ARMs to make a dent in the high unemployment figures, because ARM simply licences its technology to the likes of Apple and LG, which put the chips into their devices. Or to put it another way, ARM's success is in exploiting the grey matter of a few boffins: it manufactures nothing.

Now part of the drag on Britain's recovery is the burden of debt on households and the impact of rising commodity prices on consumers' spending power.

You can see some of that in the first half figures of Associated British Foods, which points out that world sugar prices are at a 30-year high and that there has been a sugar shortage in Europe. ABF's sugar, grocery and agriculture profits were up substantially (sugar by 27%).

ABF's Primark chain of shops, whose prices tend to be the lowest on the high street, seems to have benefited from shoppers desire to trade down and economise, since underlying or like-for-like sales rose 3%. But although that looks okay compared with competitors, it was half the rate of last year's increase.

A further manifestation of all that borrowing in the euphoric years, before the bubble burst in 2007-8, is another set of uninspiring financial results from Heathrow and Stansted airports, and their holding company, BAA (SP) limited.

The losses of the two London airports increased 8% to £211.5m and net debt in BAA (SP) was flat at a substantial £9.9bn. Net debt at the next corporate level up, BAA (SH) plc was a chunky £10.4bn, against a regulated asset base of £13bn (which moved in the right direction by 2.7%).

BAA was acquired by the Spanish group Ferrovial and partners at the height of the debt-fuelled buyout boom of 2006 - and although BAA would argue that operational performance has improved, there is a question about when if ever the owners will ever see a return on their enormous investment.

Meanwhile, in spite of the rising trend of commodities and energy, including oil, BP's profits in the first three months of the year actually fell a fraction to $5.5bn. You can see the impact of higher oil prices in a near trebling of profits to $2.1bn made in refining and marketing - but there was a significant fall in production, some of it related to the Gulf of Mexico disaster.

The fundamental BP story is that the risks and costs of extracting energy are on a secular rising trend - for which we all pay a price.

Last but never least is Barclays and its figures for the first quarter of 2011 - which show top line income lower than the first quarter of last year and below the last quarter of last year. As for profits, they were up a bit or down a bit, depending on what view you take of whether changes in the notional value of Barclays' own borrowings should be included.

The unambiguous trend is a sharp reduction in the charge of debts and investments going bad - which was 39% lower compared with a year ago and 33% down on a three-month comparison.

As for lending, loans to retail customers rose by just under £1bn to £229bn since the end of 2010 - which is neither here nor there for a bank of Barclays' size. And the overall value of Barclays' loans and investments, on a risk-weighted basis, fell 1.5% over 12 months to £392bn.

For Barclays and other big western banks, it's no longer about growing their balance sheets, about lending more and more. Their long term recovery requires deleveraging, shrinking, which is the corollary of the perceived need for western consumers and governments to pay down their respective debts.

Here's the painful part: we may need banks to become smaller, but we all suffer if in the process they starve job-creating businesses of vital finance.

Those who fear the worst won't be reassured by figures just released by the British Bankers Association (BBA), which show that net lending to non-financial businesses by banks fell £3.2bn in March.

The BBA blames weak demand from companies. And although Barclays and the other banks have promised the Treasury, in their Project Merlin agreement, that they will meet the credit needs of the economy, my electronic postbag indicates that there remains quite a gap between their perception of deserving borrowers and yours.

Update 11:15: As some of you have pointed out, ARM saw its profits increase to £51m not £51bn, as I originally said, whilst losses at the two London airports increased to £211.5m, not £211.5bn. Sorry for my brainstorm. I've probably been dealing in billions a little too often recently - due to the magnitude of our recent financial crisis.




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Four billionaires at Glencore

I can't recall a flotation like it, in terms of the sheer number of executives emerging as wealthy beyond most people's wildest dreams or expectations - not even the conversion of Goldman Sachs into a public company or the listing of Google.

When Glencore publishes its full flotation prospectus later this morning, it will show that there are four billionaires working for the world's leading commodities, minerals and energy trader.

These are led by the chief executive Ivan Glasenberg, who will be shown to be worth around $10bn.

But it is the quartet of billionaires, plus many others worth more than $100m each, and hundreds who are millionaires, that makes Glencore quite extraordinary.

Now all the top executives are saying they won't sell any of their shares for five years at least - that they won't use the flotation to cash in. As for Glasenberg, he's pledging not to sell even a single share till he steps down as chief executive.

Even so, the stock market listing converts their stakes into currency. These are not paupers.

Is there a price for them of this remarkable valuation of their respective Glencore holdings?

Well their company is already receiving vastly more public scrutiny - for it's environmental record and tax practices, for example - than it did as a pretty secretive private company over the last 20 years or so.

It won't like all this attention - such as claims in this morning's Daily Mail of how Glencore's copper mining operations in Zambia are doing too little for that country.

And it certainly didn't enjoy the furore sparked by remarks of the new chairman, Simon Murray, about how women's desire to have babies prevents them rising to then top in business.

But some of you might feel that whatever embarrassment is caused to Glencore's bosses will be softened by all that personal wealth.

Update 16:44: Oh dear. There’s another billionaire at Glencore I somehow missed.

The prospectus – which is longer than Proust, and racier than Proust in parts – shows that the chief executive, Ivan Glasenberg is worth just under $10bn.

Also, two of his lieutenants are each worth around $3.7bn, one other has a $3.2bn holding and the fifth in this billionaire quintet has a $2.8bn stake.

The poor finance director, Steven Kalmin, is worth a mere $610m.

As the FT points out, each one of these has a holding worth more than what the famous (some would use a less flattering epithet) founder of Glencore, Marc Rich, pocketed when he sold the business to management less than 20 years ago.




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Basketball recruiting notebook: Plenty of transfer news involving Indy-area players

Paul Corsaro is already busy at UIndy and a bunch of local players are on the move.

       




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Brady Allen remains one of the most coveted Indiana quarterbacks in Class of 2022

Gibson Southern quarterback Brady Allen remains one of the most coveted Indiana recruits in the Class of 2022

       




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Indianapolis' stay-at-home order protest started with a father-son challenge

he idea for a protest that drew a few hundred people to the governor's residence Saturday started at high school teacher Andy Lyon's kitchen table.

       




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Ballard: QB Eason has talent 'but has a long way to go'

Indianapolis Colts general manager Chris Ballard and coach Frank Reich discuss what they see in quarterback Jacob Eason.

       




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Taking a look back at Colts 2017 draft class and it's 'Pro Bowl-caliber' talent

They say it takes three years to evaluate a draft class. How does the Colts 2017 class look three years later?

       




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Colts TE Doyle deals with challenges with offseason workouts

Indianapolis Colts tight end Jack Doyle discusses the challenges of working out during the pandemic.

       




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How the Colts work from home: Ray Allen, heart-rate monitors, Zoom meetings

Frank Reich has worked hard to find ways to teach the Colts virtually, including bringing in an NBA legend to inspire the team.

       




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IU football: Cornerback Tiawan Mullen stays engaged despite distance

Tiawan Mullen, who will be a sophomore, has been throwing questions at IU football cornerbacks coach Brandon Shelby all spring

       




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Tom Allen on a 2020 IU football season: 'I'm an optimistic guy'

Tom Allen discusses how the Hoosiers move toward the fall when they can't work together. 'It's a universal challenge.'

       




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'The Four' competitor Jesse Kramer back in Indiana during break from TV talent search

Life changed for Avon High School alum Jesse Kramer in June, when he made his TV network debut on "The Four: Battle for Stardom."

      




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John Mellencamp will collect Woody Guthrie Prize as Rock Hall exhibit shifts to Oklahoma

Woody Guthrie Center will honor John Mellencamp's career of spotlighting "the everyday man and woman, the less fortunate and the forgotten."

      




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Love: Valentine’s Day 爱情:情人节

Love is in the air for this week's Take Away English. We hear about a very unusual Valentine's Day gift.




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Britain's Got Talent 《英国达人》

Britain's Got Talent is one of the most popular TV shows in the UK. Learn more about the show and one of its winners.



  • Story
  • Ask About Britain

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England's physical disability cricket team takes on running challenge

England's physical disability cricketers have taken on an energy-sapping challenge - they are running a collective marathon each day for 10 days.




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Formula E: Pascal Wehrlein wins 'shunt-filled' Race At Home Challenge in Monaco

Watch highlights as Pascal Wehrlein takes a lights-to-flag win in the third Formula E Race At Home Challenge at Monaco which saw a "shunt that never ends" on the opening lap.




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Coronavirus: Challenge of reshaping UK cities after lockdown

Replacing cars with bikes or walking will cut infection and address climate change, say campaigners.




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LAPD officer in violent beating video has been involved in three prior shootings

Officer Frank Hernandez has been involved in at least three on-duty shootings, including one where the city's Police Commission found fault with his actions.




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Skip the steak, buy the brisket: Consumers need to be flexible amid beef bottlenecks

Where's the beef? In California, it is still available, but meat eaters might need to settle for cuts other than prime steaks. The industry is dealing with production backups caused by coronavirus pandemic.




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Colts TE Doyle deals with challenges with offseason workouts

Indianapolis Colts tight end Jack Doyle discusses the challenges of working out during the pandemic.

       




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How the Colts work from home: Ray Allen, heart-rate monitors, Zoom meetings

Frank Reich has worked hard to find ways to teach the Colts virtually, including bringing in an NBA legend to inspire the team.

       




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Saudi tribe challenges crown prince's plans for tech city

Saudi plans to build a new tech city are coming up against two hurdles: funding and a local tribe.




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Know your rights during a traffic stop, police warn after badges stolen from Cambridge home

Police are encouraging the public to know their rights if they’re stopped on the road after two authentic police badges were stolen from a home in Waterloo Region earlier this week.




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Highlights: Max Gunther wins action-packed second Formula E Race At Home Challenge

Watch highlights from the crash-filled second race of the Formula E Race At Home Challenge as Maximillian Gunther wins on the Electric Docks circuit.




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Valentine’s Dazzle on a budget

College students can take a break and spice up their lives without breaking their wallet...




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Territories: St Helena, Ascension, Tristan da Cunha

Key facts for St Helena, Ascension Island and Tristan da Cunha




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Alleged thieves found sleeping in car surrounded by stolen items

Having a snooze proved costly for two alleged thieves from Owen Sound.




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‘Black Widow’ trailer gives us a fallen Avenger whose origin story is very much alive

Scarlett Johansson is back for a solo movie, coming out May 1, 2020.




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Researchers just created a robotic lens that can be controlled by the eyes

A team of researchers at the University of California at San Diego have created a soft robotic lens that responds to eye movements.




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LeBron James has never faced a challenge like winning with these Lakers

The Lakers rank near the bottom of the league in three-point percentage after three games and spreading out around the arc will not work for this team. Couple that with a fast pace and James's age and there are real concerns to address in L.A.