Google Gets More Than 12,000 Privacy Requests

More than 12,000 people have asked Google to "erase" information from search results within hours of the service being launched.

A spokeswoman told Sky News requests came in at a rate of up to 20 per minute across Europe after the internet giant launched its online "right to be forgotten" form on Friday morning.

The flood of requests came after Google bowed to a European court ruling which upheld the right to have some personal information blocked by online search engines.

The company introduced a mechanism for people to request the censorship of links to other internet sites which they believe contains outdated or damaging information.

Each request will see Google weigh the privacy rights of an individual against the public's right to know.

Larry Page has warned the rules could help repressive governments

The online request form asks for copies of the URL complained of, reasons the search results should be removed, and photo ID to prove an individual's identity.

The system used to decide on each request has not yet been set up by Google - but decisions will be made by humans rather than computer algorithms.

A spokesman said: "We're creating an expert advisory committee to take a thorough look at these issues. We'll also be working with data protection authorities and others as we implement this ruling."

Those unhappy with the outcome of their request can appeal to the Information Commissioner's Office (ICO) - Britain's data watchdog - or take their case to court.

The ICO has told Sky News that sufficient time must now be given for Google and other search engines to set up internal structures to handle the requests, before it will rule on them.

Google chief executive Larry Page has warned the new privacy rules will make it hard for internet start-ups, and be exploited by repressive governments.

He told the Financial Times: "We're a big company and we can respond to these kind of concerns and spend money on them and deal with them, it's not a problem for us.

"But as a whole, as we regulate the internet, I think we're not going to see the kind of innovation we've seen."

He added: "It will be used by other governments that aren't as forward and progressive as Europe to do bad things.

"Other people are going to pile on, probably … for reasons most Europeans would find negative."

Next week, all of the EU states' data watchdogs are due to meet as part of the Article 29 Working Party on the protection of individuals with regard to the processing of personal data.

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McDonald's Ain't Lovin' Thai Coup Activists

McDonald's has warned Thai democracy activists to stop using its trademark as part of their campaign against the military coup.

Protesters have used the burger chain as a meeting point and a life-size Ronald McDonald plastered with faces of pro-democracy campaigners.

The company has told activists to "cease and refrain" from the trademark infringements.

Standoffs with the country's military, which took control on May 22, have taken place at outlets in Bangkok.

Some protesters have also been using the McDonald's logo in anti-coup placards, replacing the "m'' in democracy with the trademark yellow arches.

McDonald's Corporation is based in Illinois and stores in Thailand are operated by a company called McThai.

It said it would maintain a "neutral stance" amid the ongoing political turbulence.

However, the company said it could take "appropriate measures" if activists continued to misappropriate its logo.

Thailand's army seized power after six months of protests in Bangkok aimed at ousting the elected government.

It has detained leading political, academic and media figures.

It also shutdown media outlets in the early days of the coup.

Approached by Sky News, spokespersons were unavailable for comment at both its European and US headquarters.

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Insurers Expose £1.3bn In Fraudulent Claims

A record £1.3bn worth of fraudulent insurance claims were uncovered last year as the industry continues to crack down on cheats.

The Association of British Insurers (ABI) said some £3.5m worth of dishonest claims are uncovered every day.

The figures show an 18% increase in the value of fraudulent claims detected in 2012.

In 2013, some 118,599 fraudulent or exaggerated claims were detected, the equivalent of more than 2,000 each week.

Motor insurance claims were the most expensive and common dishonest claims to be uncovered.

The average value of fraud detected across all kinds of insurance products was £10,813.

Aidan Kerr, the ABI's assistant director, said: "The message is clear: never has it been harder to get away with committing insurance fraud.

"Never have the penalties - ranging from a custodial sentence and a criminal record, to difficulties in obtaining financial products in the future - been so severe."

The ABI says the figures also reveal a "significant" rise in the number of people reporting suspected fraudsters.

Calls from members of the public reporting frauds to the Insurance Fraud Bureau's "cheatline" rose by one third (32%) in 2013 compared with the previous year.

Malcolm Tarling, a spokesman for the ABI, said the industry has also seen an increase in the number of "staged accidents".

This dangerous practice sees fraudsters cause deliberate accidents, often with innocent motorists, in order to cause injuries and claim insurance.

"Staged accidents, which are extremely serious, involve criminal gangs deliberately staging an accident, normally involving an innocent motorist," Mr Tarling said.

"These are increasingly becoming more commonplace and the industry is actively working very hard to crack down on them."

One insurer, AA Insurance, said it identifies more than 100 fraud attempts each week.

Simon Douglas, director of AA Insurance, said: "These figures are encouraging because they reflect the growing success of the insurance industry in the war against fraud, rather than more fraud taking place.

"This should send a strong signal to anyone thinking of trying it on."

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UK Economic Growth At 11-Year High: CBI Survey

A survey of more than 700 UK firms has indicated the strongest rate of economic growth since data was first collected more than a decade ago.

The Confederation of British Industry (CBI) said its poll of 726 companies showed May growth expansion at its best since 2003.

The findings come as a second lobby group, the British Chambers of Commerce (BCC), upped its 2014 growth forecast by a tenth.

The BCC said it now expects growth this year at 3.1% instead of an earlier estimate of 2.8%.

Its forecast for 2015 has been upwardly revised from 2.5% to 2.7%, and it continues to expect 2.5% growth in 2016.

BCC director general John Longworth told Sky News: "The figures show the economy is in good state and growing very rapidly.

"But growth at the moment is based too much on consumer spending and consumer credit.

"We need to rebalance the economy towards investment, infrastructure and exports."

The BCC said too much of Britain's growth is coming from consumer spending

The CBI said data indicates growth continuing to expand in the second quarter, building on gains of 0.8% during the first three months of the year.

It added that May's growth was up significantly in the poll compared to the April figure.

CBI deputy director-general Katja Hall said: "The UK economy is performing strongly thanks to rising business and consumer confidence, better credit conditions at home and improving global economic conditions.

"What's encouraging is that growth is becoming more broad-based, with solid increases in business investment over the past year. This bodes well for the year ahead.

"But there are risks to the UK's outlook from global developments, including the possibility that the situation in Ukraine and Russia could impact on global commodity prices."

Meanwhile, a separate consumer survey by data researcher Markit has highlighted householders' concerns.

It said fears of a rising cost of living, interest rates and energy bills topped the list.

It added that nearly a fifth of mortgagees believed there would be "very significant" impact from rising rates.

The concerns match lenders new protocol prior to accepting mortgage applicants.

Last month the Mortgage Market Review (MMR) was introduced, designed to better calculate applicants' ability to pay if loan rates rise in the future.

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How Do Tech Billionaires Splash Their Cash?

After Steve Ballmer offered $2bn for the Los Angeles Clippers, Sky News looks at how other tech moguls spend their money.

Bill Gates, 58, said he was leaving his day-to-day Microsoft role in 2006

:: Bill Gates

The Microsoft founder and world's richest man, with a fortune estimated at $78bn (£47.6bn), is also the world's largest philanthropist.

The Bill & Melinda Gates Foundation, with a $40bn (£23.9bn) endowment, aims to tackle disease and poverty in the developing world and improve education in the US.

In 1994, Mr Gates spent $30.8m (£18.4m) on Leonardo's Codex, or the Leicester Code, a notebook by the Renaissance genius on subjects ranging from anatomy to astronomy.

Larry Ellison, 69, is the world's fifth richest man, according to Forbes

:: Larry Ellison

The Oracle billionaire, worth $52bn (£31.1bn), bought 98% of Hawaii's Lanai island from David Murdock in June 2012 for an undisclosed price.

A tennis enthusiast, Mr Ellison previously invested $100m (£59.8m) in the professional game, including the BNP Paribas Open in Indian Wells, California.

Jeff Bezos, 50, founded Amazon as an online bookstore in 2005

:: Jeff Bezos

The Amazon mogul, whose fortune is put at $29bn (£17.3bn), has been spending his money on spaceships and an eternal clock that will keep time for the next 10,000 years. According to Business Insider, the clock is worth $42m (£25.1m).

He bought The Washington Post and other newspapers for $250m (£149.4m) but insisted he made the purchases as an individual and that Amazon was not involved.

Larry Page, 41, is one of the world's 20 richest billionaires

:: Larry Page

The Google co-creator is worth $31bn (£18.5bn) and his most extravagant purchase to date is reportedly a $45m (£26.9m) super yacht.

The 59-metre (193ft) helicopter-ready yacht is called Senses.

According to newspaper articles from 2011, when the purchase was reported, the interior was designed by French star Philippe Starck.

Mark Zuckerberg, 30, founded Facebook a decade ago

:: Mark Zuckerberg

The Facebook founder, worth $28bn (£16.7bn), has joined the Giving Pledge, a project launched by Mr Gates and Warren Buffett in 2010 to encourage US billionaires to give away at least half their wealth during their lifetime or after their death.

In 2013, Mr Zuckerberg and his wife, Priscilla Chan, donated 18 million shares of Facebook stock, valued at $990m (£591.7m), to the Silicon Valley Community Foundation, a charity that serves communities in two counties in central California. As part of that allocation, the couple are donating $120m to the San Francisco Bay Area's public school system.

Steve Jobs died in October 2011, aged 56

:: Steve Jobs

The late Apple co-founder had commissioned a €100m ($130m) yacht he was co-designing with Mr Starck.

He died before he could see the vessel completed.

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Regional Home Price Disparity Widens In April

Help To Buy: 80% Go To First Time Buyers

Updated: 3:26pm UK, Thursday 29 May 2014

Some 80% of the Help To Buy loans granted in the mortgage scheme's first six months were given to first time buyers, the Treasury has said.

A total of 7,313 loans were issued between October last year and March this year, with a total value of £1bn.

The average value of each loan taken out under the controversial scheme was £136,742.

Only about 1% of all mortgages taken out in the period were helped by the scheme, undermining critics of the programme who have said it is prompting a house price bubble.

Most mortgage completions through the scheme were on properties outside London and in regions where prices are lower.

A high proportion of homes supported by the scheme were in the North West and the East of England.

Blackstock property expert Andrew Teacher said: "Today's figures reinforce the fact that Help to Buy has not helped to blow up the London market as numerous commentators have suggested.

"The figures show the scheme has been most effective in areas of reduced growth where prices have remained relatively flat."

The mean value of a property purchased or remortgaged through the scheme is £151,597, compared to a national average house price of £252,000.

A total of 38% of loans were for terraced houses.

The scheme's rollout in October saw only four completions, followed by 164 in November and 818 in December.

However, the monthly figure jumped significantly in the first three months of this year.

In January, completions reached 1,580, while the number rose further in February and March, to 2,090 and 2,657 respectively.

Only 5% - a total of 385 completions - were made on properties in the capital.

The Help To Buy mortgage guarantee scheme was boosted by a second phase equity loan scheme in the spring.

Data for both phases shows a total of 27,861 homes were bought under the scheme, with 85% of sales to first-time buyers.

Prime Minister David Cameron said: "Help to Buy has helped thousands of hardworking people to buy a new home and crucially it is helping to increase the number of new homes being built around the country.

"It is an important part of our long term plan to back those who want to get on and to secure a better future for Britain."

Meanwhile, net lending to small and medium sized businesses as part of the Bank of England's Funding for Lending Scheme dropped  by £723m in Q1, amid a focus on business loans.

The Bank said that between February and March lenders drew just £2bn from the scheme. It was launched in mid-2012 to encourage banks to improve borrowing facilities.

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Asda's England Flag 'Looks Like KKK Costume'

Supermarket chain Asda has defended the sale of a wearable England flag which has been likened to a Ku Klux Klan outfit.

The St George's Flag, emblazoned with the word "England" and featuring a peaked white hood, sparked a social media storm when it went on sale in ahead of the World Cup in Brazil.

But a spokeswoman for Asda, which has priced the novelty garment at £3, said: "We opted for a hood... as you never know what the British weather will bring.

Ade Brandwood's wife bought the flags while shopping in Asda. Pic: Twitter

"We want customers to get behind the team without getting wet."

England fan Ade Brandwood was among those who questioned the supermarket's decision to sell the flags.

His picture of the red and white cape, which has now been retweeted thousands of times, was accompanied with the message: "I'm not sure they set the right tone."

One user called Simon wrote: "'ENGLAND RULES OKKK'. Honestly, do Asda simply not bother to see how these things look when worn?"

Another, called Kieran, added: "They do look dodgy to say the least."

The flag was still available on Asda's website at lunchtime Friday, accompanied with the description: "Support England in the World Cup with this unique wearing flag!"

The supermarket's spokeswoman added: "We know there's chatter on Twitter... but it's simply a flag with a hood - nothing more, nothing less."

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Scots Independence: B&Q Boss Warns Over Split

The boss of the DIY giant B&Q has warned investment in Scotland would be put on hold if the country decides to go it alone.

Sir Ian Cheshire, chief executive of multinational Kingfisher, which owns the home improvement chain, said there are too many uncertainties around tax, currency and Scotland's membership of the EU in the event of a Yes vote for independence.

Plans for another 23 Screwfix shops would also be put on ice.

Sir Ian, speaking at his newest B&Q warehouse in Port Glasgow, Inverclyde, stressed he would not pull out north of the border if Scots decided to split from the UK.

But he said: "It would put a pause on everything.

"If we have differences on VAT, currency, it just puts everything into hibernation as we try to figure out what it will mean.

"At the end of that we have to consider what is the trading environment.

"Because Scotland is such an important part of B&Q, there's no way we're going to let it go, but it would be more complicated, probably more costly and less likely to attract investment, given we could invest in 11 other countries around the world."

Sir Ian says he can see the downside but no upside to independence

B&Q employs more than 2,600 people in Scotland and around 20,000 across the UK.

Screwfix, which Kingfisher also owns, has 27 shops in Scotland employing just under 400 people.

Sir Ian, who is not eligible to vote on September 18, said independence would mean having to change the company's UK-wide IT system, while thousands of products may also have to be repriced in B&Q and Screwfix.

He said his warnings were based purely on business reasons, and dismissed claims Scotland could not survive on its own as "ridiculous".

Sir Ian said: "Whatever the result of the referendum, we will be here."

But he would "strongly advise" a vote against independence.

"As a business, through our lens, it is clearly better to be part of the UK," he said.

"There's always a way of making things work, but the question is, basically, is this better than the current situation? I would say not. I can see the downside, I can't really see the upside."

Tony Banks, chairman of Balhousie Care Group and the pro-independence group Business for Scotland, said Sir Ian had nothing to fear from a Yes vote.

He said: "The only risk of red tape and barriers to trade comes with a No vote after which it looks increasingly likely Scotland will be dragged out of Europe by the rest of the UK."

On Friday, Kingfisher saw a fall in its share price after profits fell below expectations as promotions hit margins in its UK operations, while trading in France was held back by weak consumer confidence.

The quarterly update showed group retail profit for the period rose 20% to £142m, but it this was below market forecasts of £145m and the stock fell nearly 5%, or 20.3p, to 397p.

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The Week's Big Business Stories

Once you've caught up on last week's business news, you can get ahead on what's coming up next week with Sky's Week Ahead.

:: Monday, June 2

On Monday at 6.30pm, Sky News launches its new flagship business show, Ian King Live.

Also on Monday, Apple is hosting its Annual Worldwide Developers Conference. The event is often used by the company to launch new products. It is reportedly gearing up to announce a smart home software platform, powered by iPhones and iPads which would allow users to control household appliances with the swipe of a finger.

:: Tuesday, June 3

The Nationwide House Price Index for May is out on Tuesday morning. Britain's biggest building society reported an annual pre-tax statutory profit of £677m, up more than 300% on the figure last year. Chief executive Graham Beale said there could be early signs of a natural correction to house price rises in London, but warned that measures to cool capital prices might have a negative impact elsewhere.

:: Wednesday, June 4

Tesco will release its first quarter sales on Wednesday. The UK's biggest retailer has refurbished a significant number of stores and some analysts think this will stand it in good stead for the future, but these figures are still likely to show a like-for-like sales decline. Watch for more about the appointment of a new finance boss.

:: Thursday, June 5

At 12pm on Thursday, the Bank of England will announce whether it is to raise interest rates or not. The rate has been at a record low of 0.5% since 2007. The outgoing deputy governor Charlie Bean has said that rates could increase to 3% in the next three to five years.

:: Friday, June 6

The United States will release its jobless data for the month of April on Friday. Consumer spending unexpectedly fell 0.1% in April, according to a report by the Commerce Department. The drop was the first in a year, but economists expect it to be temporary

:: Missing something? Tweet your business stories to @SkyNKTweets

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Retailers' Credit Union To Defy Payday Lenders

By Mark Kleinman, City Editor

Some of Britain's biggest high street names, including New Look and Next, are forming a credit union that will offer staff an alternative to the sky-high interest rates charged by payday lenders.

Sky News has learnt that RetailCure, which has also received backing from entrepreneurs such as Rymans owner Theo Paphitis, is drawing up plans to launch later this year.

The new venture has received start-up funding of £1m and will eventually be accessible to the 4.8 million people who work directly in retail or in related sectors of the economy, half of whom earn less than £8 an hour.

It will be chaired by John Lovering, a veteran retailer who has led buyouts of companies including Debenhams, Homebase and Somerfield.

Mr Lovering is also chairman of the Retail Trust, an industry charity which has been working on plans for the new credit union for some time.

Speaking to Sky News, he said: "The industry feels that we have to find a way of providing a source of cheap, reliable credit for our people.

"The three million in retail and the nearly five million in the wider industry do have a need for low-cost, value-for-money, short-term borrowing facilities, and that's what we as an industry are trying to provide."

Booker and Matalan have also agreed to support RetailCure, while John Lewis Partnership and Wm Morrison have been approached and are expected to provide financial assistance.

The launch of RetailCure comes amid a still-intense political debate about the business model employed by payday lenders, which charge interest rates that work out at more than 5,000% on an annual basis.

The high street chains' credit union will charge interest on a sliding scale from roughly 7% to nearly 28% depending upon the borrower's credit history.

Mr Lovering expects the average loan request to be lower than £5,000, and believes that RetailCure could ultimately become Britain's biggest credit union.

"We think we can build a loan-book of £50m and attract 50,000 members relatively quickly," he said.

Assuming it receives regulatory approval, savers who deposit funds with RetailCure will be protected by the same Government guarantee as that which covers high street banks.

Labour MP Stella Creasy, who has campaigned against payday loans, told Sky News: "Anything that helps people access affordable credit as opposed to some of the legal loan sharks you see on your high streets - the payday lenders and the logbook loan companies - is a welcome move."

Earlier this week, the Church of England unveiled a pilot scheme through which a new credit union network will be piloted in three of its dioceses.

That project is being led by Sir Hector Sants, the former boss of the City watchdog, which since April has had oversight of consumer credit providers such as payday lenders.

Last year, the Archbishop of Canterbury, Dr Justin Welby, said he had told the then boss of Wonga that he wanted to "compete (the company) out of existence".

The remarks sparked acute embarrassment for the Archbishop, however, when it emerged that the Church of England's pension fund was among the investors in one of Wonga's financial backers.

In its annual report this week, the Church Commissioners said they had yet to dispose of the holding because doing so would crystallise a significant loss for its pension fund.

Some industry stakeholders were sceptical about the prospects for RetailCure.

Russell Hamblin-Boone, chief executive of the Consumer Finance Association, which represents short-term lenders, said greater choice was welcome but warned that it faced significant uncertainties.

"What this body will have to do is make sure it complies with very stringent regulations that are applied to financial services.

"I would ask questions around what is going to be the collection policy, what happens if somebody leaves the retailers business still owing a debt, how are you going to collect that?"

RetailCure hopes to launch formally in November.

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