BHS liquidation proceedings begin, ending 88 year history

British retail chain BHS has officially entered liquidation, after falling into administration earlier in the year.


The news marks the official end of the iconic company's 88-year history in the UK.


While a company, or parts of a company, can still be bought and saved from administration, the liquidation of assets means the firm will now be dissolved and the money used to pay back BHS's creditors.


But some may get returns as little as 8p on the pound thanks to the huge deficit in the BHS pension fund, which had reached £571m at the time of the company's collapse but is likely to have grown since thanks to volatility in the markets.


BHS's downfall in April marked the biggest British high street collapse since Woolworths nearly a decade ago.


Former owner of the company, Philip Green, has been heavily criticised for his handling of the firm and its pension pot.


Mr Green claimed he did everything he could to keep the business afloat, despite taking more than £400m in dividends from the company before selling it to serial bankrupt Dominic Chappell for £1.


The Pension Protection Fund (PPF) took on responsibility for paying retirement funds to thousands of former BHS employees, making it BHS's biggest creditor.


:: The Demise Of BHS - A Timeline Of Events


Malcolm Weir, Head of Restructuring and Insolvency at the PPF, commented:


"We believe the liquidation is the right way to secure the best possible recovery for the pension schemes and other creditors of the insolvent company.


"The liquidator will now be able to progress all remaining issues, including the leases and the ongoing investigatory work."


Sky News reported in November that the administrators who were put in charge of BHS in April, Duff & Phelps, had resisted starting the liquidation process as they hoped to secure better returns for creditors.


Frank Field MP, who chairs the House of Commons Work and Pensions Committee, said that the news is "another milestone in the collapse of BHS that Sir Philip Green sailed away from".


"At this stage, though, it is welcome," he said.


"It gives the PPF's preferred administrator - rather than Sir Philip's - the best chance of salvaging some money for the pension schemes.'


"It does beg the question, though, of why the BHS pensioners are having to jostle for position, when Sir Philip promised months ago he would 'sort' their pension payments."

Andrew Sachs, Fawlty Towers' Manuel, dies aged 86

Fawlty Towers star Andrew Sachs, who played hapless Spanish waiter Manuel in the BBC sitcom, has died aged 86, his family has confirmed.

The actor died on 23 November and was buried on Thursday, his wife Melody said in an interview in the Daily Mail.

She told the paper that Sachs had been diagnosed with dementia four years ago.

On his role of Manuel, Sachs had told the BBC in 2014: "It was just a part I was playing and people seemed to laugh."

Manuel was one of the most imitated comedy characters of the 1970s.

That 'tremendous' call between Trump and Pakistan's PM Nawaz Sharif

Late on Wednesday afternoon US President-elect Donald Trump had a phone call with Pakistan's Prime Minister Nawaz Sharif.

According to a Pakistani account of what should probably have been a procedural discussion, Mr Trump lavished extravagant praise upon Pakistan's prime minister and its people.

"You have a very good reputation. You are a terrific guy," it goes. In addition, Pakistan is "a fantastic country, fantastic place" with the most "intelligent" people and "your country is amazing with tremendous opportunities".

Not satisfied with that, the account, commonly known as read-outs, culminates with this flourish: "Please convey to the Pakistani people that they are amazing and all Pakistanis I have known are exceptional people, said Mr Donald Trump."

It is unclear to what extent these are direct quotes, but there was much bemusement both in mainstream and social media.
Then the US released its account of the call

Hours later, the Trump team released a statement which, if brief, emphasised the pleasantries generally found in these exchanges.

Describing it as a "productive conversation", the two discussed how they would achieve "a strong working relationship in the future", the US-statement said.

"President-elect Trump also noted that he is looking forward to a lasting and strong personal relationship with Prime Minister Sharif."

But the effusive praise detailed by the Pakistanis did not go unnoticed.
What might India say?

Many pointed out that India may have something to say about the president-elect's apparent delight at the invitation to visit Pakistan - "a fantastic country, fantastic place, of fantastic people" - when no US president has been since 2006 and there is a delicate diplomatic tightrope to be negotiated.

It it not yet clear if Delhi has any view at all. Following a number of cross-border attacks, relations between the neighbours are at their lowest point in years. And the tone of the exchange certainly contradicts a Trump view in 2011.

But while Mr Trump was criticised by some as naive for being fulsome in his praise of the leader of a country that has been accused of backing militants, many more just saw the funny side.

The two did not apparently discuss Mr Trump's campaign promise to enact a "total and complete" shutdown of Muslims coming to America, later downgraded to "extreme vetting". The overwhelming majority of Pakistanis, including the prime minister, are Muslim.

For now, the two former businessmen stuck to warm words.

And just in case there was any doubt: "All Pakistanis I have known are exceptional people," was Mr Trump's view in the words of Pakistan.

Lib Dem Sarah Olney wins Richmond Park by-election

The Lib Dems have won the by-election sparked by Zac Goldsmith's resignation over Heathrow Airport expansion.

Voters in the southwest London constituency of Richmond Park delivered a Brexit backlash against Theresa May, overturning a massive 23,000 Tory majority.

Sarah Olney won 20,510 votes, a majority of 1,872 over the pro-Brexit Mr Goldsmith, who won 18,638 votes standing as an independent.

Speaking after her win, Mrs Olney told Sky News that anti-Brexit feeling had been a major theme among voters she had spoken with during her campaign.

She added: "Most voters were saying they were really alarmed about Brexit, really alarmed about the direction it is taking the country and they want to do something about it."

During her victory speech, she said the voters had "sent a shockwave through this Conservative Brexit government and our message is clear: We do not want a hard Brexit, we do not want to be pulled out of the single market and we will not let intolerance, division and fear win".

To her rival, Mr Goldsmith, she said: "I wish you well and assure you I will continue your fight against the expansion of Heathrow."

Following his defeat, Mr Goldsmith said: "This by-election that we just had was not a political calculation, it was a promise that I made and it was a promise that I kept."

Labour's Christian Wolmar came a humiliating third with 1,515 votes, losing his deposit, in a dismal performance that will lead many of the party's MPs to question whether they should have bothered to stand.

Turnout, on a bitterly cold December day, was 53.6%, the highest in a UK mainland by-election since the Tories won Crewe and Nantwich from Labour in 2008.

While all three main candidates were opposed to Heathrow expansion, the Lib Dems were spectacularly successful in turning the by-election into a referendum on Brexit.

The constituency voted by a large majority for Remain in the EU referendum on 23 June and the Lib Dems fought a campaign that was almost entirely about the Government's Brexit strategy.

The Lib Dems sensed the opportunity for a by-election upset in Richmond Park after winning a 19.3% swing in Witney in October and slashing David Cameron's 2015 majority of 25,000 majority to just 5,700.

They flooded the constituency with senior party figures and activists. Leader Tim Farron made 10 visits and former leader Nick Clegg six.

On two weekends during the campaign the Lib Dems had 1,000 activists on the streets. The result: 150,000 door-knocks and 50,000 chats with voters.

The Lib Dems even brought in Bob Geldof, who was involved in a noisy and ill-tempered clash with Nigel Farage on the River Thames during the EU referendum campaign, to campaign for their candidate on the eve of polling day.

Their victory now ranks along previous spectacular Lib Dem by-election triumphs such as Christchurch in 1993, Winchester in 1997, Romsey in 2000 and Brent East in 2003.

This by-election was highly unusual in that for the first time since Tony Benn renounced his peerage and returned to the Commons in 1963, the governing party failed to put up a candidate.

Some Tories will question the wisdom of their party not fielding a candidate against Mr Goldsmith, although had they done so the Conservative vote would have been split and made the Lib Dems' task even easier.

UKIP did not field a candidate either. Nor did the Greens, who urged their supporters to vote Lib Dem. Many Labour voters also voted tactically for Mrs Olney.

The failure of UKIP to stand in the by-election enabled the Lib Dems to portray Mr Goldsmith as UKIP's candidate, which went down badly in a constituency that voted heavily for Remain in the EU referendum.

For Mr Goldsmith, millionaire son of the late financier Sir James Goldsmith, the defeat is a personal humiliation after his pledge to resign if Heathrow expansion was given the go-ahead.

Since winning his huge 23,000 majority over the Lib Dems at the 2015 general election, his political career has gone into a disastrous freefall.

Chosen as Tory candidate for London mayor in the election in May this year, he was not only beaten decisively but also faced fierce criticism for the tone of his campaign, which critics - including many Conservatives - claimed was racist.

He will now have to continue his campaign against Heathrow from outside Parliament and decide whether he wants to attempt to regain his old seat from the Lib Dems in the 2020 general election.

Trump picks 'Mad Dog' Mattis as defence secretary

Controversial retired general James Mattis has been named by Donald Trump as his choice for defence secretary.

The 66-year-old retired from the Marine Corps in 2013, having served as the commander of the US Central Command.

Nicknamed "Mad Dog", he was referred to by President-elect Mr Trump as "a true general's general".

But, while his service record is mostly respected, there are concerns about his lack of experience in diplomacy.

There is also concern about some of his other activities, including serving on the board of troubled biotech firm Theranos.

The Washington Post reported that Theranos founder Elizabeth Holmes had tried to get him to intervene after a Pentagon official questioned the company's selling of its technology without approval from the Food and Drug Administration.

Theranos promised new-age blood-testing technology but had to invalidate two years of results after the reliability of its methods were questioned.

Mr Mattis also said in 2005 that it was "fun to shoot some people".

He told a forum in San Diego: "Actually, it's a lot of fun to fight.

"You know, it's a hell of a hoot. It's fun to shoot some people.

"I'll be right up front with you, I like brawling."

He added: "You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil.

"You know, guys like that ain't got no manhood left anyway, so it's a hell of a lot of fun to shoot them."

For Mr Mattis to be confirmed, a new law would have to be approved to bypass current legislation barring military officers from being defence secretary within seven years of leaving active duty.

French president Francois Hollande will not run for second term

France's Socialist president Francois Hollande has announced he will not seek a second term in office.

Mr Hollande is the most unpopular leader in the country's modern history following economic concerns and security fears after a series of terror attacks.

It is the first time since 1958 that an incumbent French president has not sought re-election.

And his decision throws the selection of a Socialist candidate for next year's presidential race wide open.

Mr Hollande, 62, said: "I am aware today of the risk that going down a route that would not gather sufficient support would entail."

He said he decided against running again because he wanted to give the Socialists a chance to win "against conservatism and extremism".

He said he remained "lucid" about his chances of getting wide backing within the party, which remains deeply divided over his policies.

Mr Hollande added: "In the months to come my sole duty will be to continue to lead the state, the mandate for which you elected me in 2012."

If he had won the nomination he would have faced a tough task to even make the second round of voting in the election.

All recent polls have predicted neither Mr Hollande nor any other socialist candidate would make it past round one.

They predict a run-off battle between centre-right conservative candidate Francois Fillon and the leader of the far-right National Front, Marine Le Pen.

The Left is deeply divided as it approaches the two-round presidential election on 23 April and 7 May.

Several socialists, including former economy minister Arnaud Montebourg, have said they will take part in the left-wing primaries in January.

And a few days ago, Mr Hollande's prime minister and number two, Manuel Valls, said he was "ready" to compete.

Another of his ex-ministers, Emmanuel Macron, and leftist firebrand Jean-Luc Melenchon have said they will run in the presidential election but without taking part in the primaries.

Mr Hollande had been expected to say in the coming weeks whether he would run again.

The president repeatedly said he would only seek re-election if he was able to curb the unemployment rate, which has hovered for years around 10%.

At the weekend, the conservatives chose Mr Fillon as the Republican candidate.

On Thursday, he tweeted: "This evening, the President of the Republic admits with lucidity, that his patent failure prevents him from going on further.

"This five-year term is ending in a political mess and the dissolving of power."

Trump: Wole Soyinka returns to Nigeria, destroys US green card

Nigerian Nobel prize-winning author Wole Soyinka said Thursday he has fulfilled his pledge to throw away his US residency green card and leave the country if Donald Trump won the presidential election.

Shortly before the vote, Soyinka had vowed to give up his permanent US residency over a Trump victory to protest against the Republican billionaire’s campaign promises to get tough on immigration.

“I have already done it, I have disengaged (from the United States). I have done what I said I would do,” the 82-year-old told AFP on the sidelines of an education conference at the University of Johannesburg.

“I had a horror of what is to come with Trump… I threw away the (green) card, and I have relocated, and I’m back to where I have always been” — meaning his homeland Nigeria.