80% of Schools in Some Parts of the UK Contain Asbestos

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Cut-backs Mean Re-building Asbestos Schools is on Hold [11th Jun 2012]

It has been suggested that teachers and pupils may be put at risk in run down schools due to the risk of exposure to asbestos. The trade union Unison is stating that the problem could be a hidden killer as 80% of schools in some parts of the UK contain asbestos. The comments come as the family of a school caretaker is awarded £248,000 in compensation after he died from mesothelioma due to exposure while at work. He died earlier this year and had worked in Lancashire schools during the 1980's. Bernadette Gallagher from Unison has said that the Labour policy of rebuilding schools would have meant that many of these older school would have been replaced. However that is now not happening and this could mean further risk to those in the public buildings. The local council has said that exposure to asbestos in schools is carefully managed and potential risks are mitigated by regular reviews of the condition of the structure.

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Asbestos hazard flagged up in rundown schools - www.thisislancashire.co.uk

Investment firms who lost money due to NASDAQ computer glitches on the opening day of the Facebook share issue could get a share of $40 million (US) in cash and credit as compensation. While the New York Stock Exchange, the main rival of the NASDAQ has said that the move was giving the NASDAQ an unfair advantage, some brokers are complaining that the amount is not nearly enough. The problems occurred on May 18 when computer problems meant that traders had no idea whether their trades went through. The opening was delayed by 30 minutes and investors were unable to buy shares in the morning, sell them later in the day or even know if their trades had been processed. Some brokers have said that they were left with shares which they didn't want. NASDAQ have pointed out that they are embarrassed about the glitches, but that it did not contribute to the low key introduction of the Facebook shares. The shares started at $38 and finished at $38.23, however it did rise to $45 on that first day. Despite NASDAQ say they will reimburse those brokers who were forced to sell at a lower price than intended.

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NASDAQ set aside $40m for botched Facebook IPO - www.dailymail.co.uk

It has emerged that the Chancellor George Osborne has been warned by banks that they will need to increase borrowing rates if they are forced to offer compensation to savers in the event of a bank collapse. The Independent Commissions on Banking has made a recommendation that savers should be put ahead of creditors and bondholders to be compensated if a bank fails. Currently savers are further down the list of creditors. The Chancellor agrees that savers need better protection because a failure of a bank is out of their control and they could lose their entire savings. The change will mean that the government will have less responsibility for compensating savers as they currently do. Bankers are saying that the changes will mean that individual savers will find it hard to borrow money.

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Banks warn of costs from saver safeguards - www.telegraph.co.uk

Farmers who have seen their land ruined by recent flooding in the Somerset region are concerned that they may not be entitled to any compensation despite losing millions of pounds. It is estimated that around 2,000 acres of arable land which is suitable for grazing and growing has been left unusable after being submerged for six weeks. The farmers are claiming that the Environment Agency has failed to keep local rivers properly dredged and that this has caused their losses. One farmer has suggested that the lack of maintenance is due to cutbacks. He points out that it will be more than a year before he can plant on his land again and that the hay he had planned to grow this year for his cattle will now have to be bought elsewhere. The National Farmers Union are seeking advice as to whether they can claim compensation, but it seems that the "freak event" is unlikely to be covered.

Related Stories:
Farmers could lose millions as floods devastate Somerset - www.thisissomerset.co.uk

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