Italian cruise firm offers payout

27 January 2012 Last updated at 12:45 GMT Sixteen people are known to have died in the disaster The Italian company that owns the capsized cruise ship Costa Concordia has offered passengers 11,000 euros (£9,000; $14,000) each in compensation.

The deal comes after negotiations between the company, Costa Cruises, and several Italian consumer groups.

The company also promised to refund medical and transport expenses, as well as the cost of the cruise.

One consumer group, Codacons, has urged passengers not to accept the offer, Reuters news agency reports.

Codacons and two US law firms are filing a class-action lawsuit in the US suit against Costa Cruises, demanding at least $160,000 (£105,000) for each passenger on the ship. Costa Cruises is owned by the US-based Carnival Group.

Mitchell Proner, a lawyer with one of the firms filing the lawsuit, told the BBC last week that it was being brought on behalf of 110 claimants.

A crew member from the Costa Concordia has also brought a lawsuit against Costa Cruises in the US state of Illinois, Reuters reports.

In court documents, Gary Lobaton says he was not aware of the "dangerous conditions" the ship was in until it was too late to abandon ship.

Reconstruction of the Concordia's final minutes by Dutch software firm QPS

Hopes for deal

The deal will not cover those passengers who lost loved ones or who were injured.

"This deal concerns some 3,000 passengers from 60 countries, including some 900 Italians," Adoc, one of the consumer groups that negotiated the agreement, said in a statement, AFP reports.

"We think around 85% of them will agree to this deal," it added.

On Tuesday another body was found inside the wreck of the Costa Concordia, bringing the death toll to 16. At least 16 others are missing.

The ship ran aground off the Tuscan island of Giglio on 13 January with more than 4,200 people on board.

Costa Cruises has blamed Capt Francesco Schettino for committing "grave errors of judgement" by steering the ship too close to Giglio on an "unauthorised manoeuvre".

Capt Schettino is currently under house arrest on suspicion of manslaughter, which he denies.

Redknapp: 'I don't fiddle taxes'

27 January 2012 Last updated at 15:36 GMT The BBC's James Pearce reports from Southwark Crown Court

Harry Redknapp told police he has paid "fortunes in income tax" and did not "fiddle anybody", a court has heard.

The Spurs boss is accused of receiving untaxed payments from Milan Mandaric during their time at Portsmouth.

He said his family were "givers, not takers" and he would rather "give you £100,000 than nick a few quid off you".

Mr Redknapp said he should have told his accountant about a Monaco account where the payments were made, jurors heard.

In an interview with police in 2009, played to Southwark Crown Court, Mr Redknapp said: "I don't fiddle anybody. I pay my taxes.

"I've been in football all my life. I've paid fortunes in income tax."

He added: "To try and nick a few quid off the income tax... Why? I am not into that. I don't need that.

"I'd rather give you £100,000 than nick a few quid off you.

'Make some money'

"That's how I live. I have got a golf [charity] day tomorrow... I give £15,000 tomorrow to Leukaemia Busters."

The court heard during his time at Portsmouth he was earning £35-£40,000 a week.

The football boss also told police his home was at risk after losing millions of pounds in disastrous investments, jurors heard.

He said he lost £6m in a property venture in Southsea, Portsmouth, and squandered £250,000 in a failed takeover bid at Oxford United.

The court heard he put the money forward to help his friend Jim Smith maintain his role as manager at the club.

Earlier, Mr Redknapp was heard during interviews saying he never wanted the "Rosie 47" Monaco account - named after his dog and year of birth - the court heard.

The prosecution alleges Mr Mandaric made untaxed payments totalling $295,000 (about £189,000)

The prosecution alleges Mr Mandaric made untaxed payments totalling $295,000 (about £189,000) into the Monaco account when he was chairman and Mr Redknapp was manager of the south coast side.

The Tottenham boss said he never asked how much was going into it and just hoped Mr Mandaric would "make me some money", jurors heard.

It has been previously heard that he thought the tax had already been paid by Mr Mandaric.

Mr Redknapp, 64, who lives in Poole, Dorset, and Mr Mandaric, 73, of Oadby, Leicestershire, each deny two charges of cheating the public revenue.

The first of the two charges alleges that, between 1 April 2002 and 28 November 2007, Mr Mandaric paid $145,000 (£93,100) into a bank account held by Mr Redknapp in Monaco, to avoid paying income tax and National Insurance.

The second charge for the same offence relates to a sum of $150,000 (£96,300) allegedly paid by Mr Mandaric to the same account between 1 May 2004 and 28 November 2007.

Tottenham have confirmed Mr Redknapp will be in the dugout when his side take on Watford at Vicarage Road in the FA Cup later.

The trial continues.

BP ordered to share spill damages

27 January 2012 Last updated at 00:40 GMT The explosion at the Deepwater Horizon rig killed 11 people BP must cover some but not all of oil rig owner Transocean's liabilities for the 2010 oil spill in the Gulf of Mexico, a US judge has ruled.

US District Judge Carl Barbier said that Transocean was shielded by its contract with BP from having to pay many pollution claims.

But Transocean must cover its own legal fees and is not exempt from paying punitive damages and civil penalties.

A trial on damages from the oil spill will begin next month.

The trial, which will also involve oil services firm Halliburton who made the cement cap on the well which blew, is expected to apportion blame and quantify damages arising from the incident.

'Cannot avoid responsibility'

BP said that the ruling made it clear that contractors would be held accountable for their actions.

"Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct," the company said in a statement.

"As we have said from the beginning, Transocean cannot avoid its responsibility for this accident."

In his decision Judge Barbier said: "The court defers ruling on BP's arguments that Transocean breached the drilling contract or committed an act that materially increased BP's risk or prejudiced its rights."

He added that the court "does not express an opinion as to whether Transocean will be held strictly liable, negligent, or grossly negligent".

BP has spent $14bn (£9bn) so far in its spill response and cleanup operation and has set aside a further $20bn for damages claims.

It has been locked in legal battles with both Transocean and Halliburton over who should pay for costs and damages arising from the spill.

The explosion at the Deepwater Horizon rig on 20 April 2010 killed 11 people and caused the worst offshore oil spill in US history.

Toy maker Hornby warns on profits

27 January 2012 Last updated at 18:00 GMT Hornby is best known for its model railways but it also owns Scalextric and Airfix Hornby, the model train and Scalextric maker, has issued a profits warning after sales of its train and slot-car racing sets were hit.

The company said "fragile consumer confidence" in the run up to Christmas had left UK sales below last year.

Hornby, which also owns the Airfix and Corgi brands, said its full-year profits were now likely to be below expectations.

The news hit Hornby's share price, which ended the day down 18%.

However, Hornby said its new London 2012 products were being well-received.

It said it had already taken steps to broaden its product range, focussing on more affordable items, including a range of Corgi die-cast models of commonplace vehicles that will sell at £1.99.

Continue reading the main story New products for this year include Scalextric Star Wars, and a pre-school range based on a new TV series "Ollie the Little White Van".

Other plans include a range of collectible horse models, aimed at girls and female adult collectors, that will include one based on the popular film and play "War Horse".

It is the second year in a row that Hornby has endured disappointing Christmas trading. Last year sales were held back by the freezing weather.

Hornby's chairman Neil Johnson, said: "It is proving extraordinarily difficult to predict sales accurately in these turbulent markets."

Numis Securities cut its profits forecast for the current financial year by about a quarter to £5m