Uk Authorities Clear Baba Ramdev After Second Round Of Questioning
UK needs migrant workers ‘because locals are lazy’, says Bulgaria
But analyst Anthony Codling at brokerage Jefferies said that while estate agents were the best way to gain exposure to the UK housing market, prospects were better for nationwide firms. “We see more significant potential for house price growth outside of London than inside,” he said in a note. Jefferies worked on Countrywide’s float. CHEQUERED HISTORY House prices fell 16.3 percent in London after the financial crash and by 16.6 percent across England and Wales, according to Land Registry data. While London prices have recovered to 6 percent above their pre-crash peak, in the rest of the country they are still 10 percent below. Foxtons’ offering, which was oversubscribed, raised 335 million pounds for selling shareholders, including majority owner private equity group BC Partners, and company employees. BC Partners reduced its stake from 75 percent to 28.3 percent through the sale and if an overallotment option – whereby more shares can be sold if there is strong enough demand – is exercised this will drop further to 22.3 percent. Foxtons Chief Executive Michael Brown stands to pocket 52.3 million pounds from reducing his stake to 8.1 percent. The company, known for its cafe-style branches and the distinctive Mini Cooper cars driven by its sales staff, also raised 55 million pounds from selling new shares to reduce debt. A source close to the deal said good demand had come from investors in the UK and United States, with buyers confident housing market transactions volumes were far from peaking and Foxton’s strong lettings business would also support its value. The offer prospectus shows New-York based asset manager Blackrock (BLK.N) was a large investor, buying an 8.2 percent stake, while Fidelity Worldwide Investments holds 3.2 percent. The offer price valued Foxtons at around 18 times next year’s forecast earnings, compared with 17 times for Countrywide and a median of around 12.3 times for UK housebuilders, according to Thomson Reuters data. The float marks a milestone for BC, which has had a chequered history with Foxtons since first buying it for about 360 million pounds in 2007. The agency came to epitomize the woes of the private equity industry as plummeting sales pushed it into breach of the terms on its debt.
“No Indian citizen travelling on a valid visa should be held in this way. I hope this will not stop Baba Ramdev from coming to the UK again. All his belongings and passport with a two-year valid UK visa have now been returned to him,” Vaz said. “It has certainly been an odd arrival but he can now go about with his planned itinerary,” the Leicester East MP said The UK Home Office refused to comment on what it described as an individual’s questioning over immigration issues. Ramdev’s spokesperson S K Tejarawala dismissed reports that he was detained for carrying some medicines. “He was not carrying anything with him except a small bag of personal effects. It is for the British authorities to explain why he was detained,” he said. His detention has been criticised by the BJP which urged the Centre to intervene. BJP President Rajnath Singh termed the detention of the yoga guru as “serious” issue and asked the Centre to take cognisance of the matter. From the airport, Ramdev today headed straight to the 150th birth anniversary celebrations of Swami Vivekananda at a conference centre in south-west London. He was to be joined by guest speakers, including Indian parliamentarian M Venkaiah Naidu and British minister for energy and climate change Baroness Sandip Verma. Ramdev is also scheduled to deliver a keynote address at ‘The Future of India – Through The Eyes of an NRI’ event at the same conference centre in south-west London tomorrow afternoon. “The conference will look at how India should progress after the 2014 elections,” the conference note said.
UK estate agent Foxtons makes $1.2 billion stock market debut
Photograph: Jason Alden/REX Britain needs east European immigrants because its own citizens are not willing to work hard enough or won’t come off benefits to do seasonal fruit picking jobs, a submission from the Bulgarian government to the Home Office claims. In the document, seen by the Observer, Bulgaria insists there is no evidence that its citizens are involved in “benefit tourism” . It says that Britain gains from the free movement of people and that Bulgarians in the UK are “predominantly young, single, relatively well educated”. It cites a recent report from the Migration Advisory committee of the Home Office assessing the benefits of Romanian and Bulgarian seasonal workers to the economy. Bulgaria’s submission says: “Operators and growers are trying unsuccessfully to recruit (and retain) British workers, who are reluctant to live on (be tied to) the farm; either cannot or will not work at the intensity required to earn the agricultural minimum wage and have little incentive to come off social security benefits for seasonal work. “Bulgarian and Romanian workers in the agricultural sector are presented in the report as highly valued, a stable and reliable source of labour.” The 10-page Bulgarian document was submitted last month to the Home Office and the Department for Work and Pensions to form part of David Cameron’s review of European Union powers. The arguments presented will also form the basis of the Bulgarian government’s defence against attempts to limit its citizens’ access to public services , such as the NHS, and jobs when the current transitional immigration arrangements are lifted in 2014. A series of ministers and Tory MPs have called for tighter access to the welfare state before Romanian and Bulgarian citizens have total freedom to move and work in the UK. However, the Bulgarian government hits back in its submission. It claims that the current EU laws on freedom of movement and access to another member state’s welfare system are “rarely abused and do not lead to overburdening of the public services of the latter. “Particularly in the case of Bulgarian and Romanian citizens in the UK, there is no evidence of so-called ‘benefit tourism’,” it says.
UK authorities clear Ramdev after second round of questioning
The immigration officer later gave Ramdev leave to enter the UK lawfully and carry on with his programmes. Emerging from the nearly 20-minute meeting, Ramdev claimed the Indian government may have had a hand in his detention. “I’m sad to say that our government did not support us. I’ll wait for all the details but what happened indicates that the UK authorities may have been misguided by the Indian government. I believe a red alert was attached to my name,” Ramdev said. UK authorities clear Ramdev after second round of questioning Earlier, the yoga guru told reporters he had “never done anything unethical or wrong”. He said, “I have been travelling to the UK and the US for eight years and I have never been treated the way I have been treated this time. “Since Friday, I have been asking the UK officials to tell me what my fault is,” he said. Ramdev further said he had followed all rules and visa conditions of the British government. “I would only expect that the way we respect the UK, they will show India and Indians the same respect. I’ll accept whatever they decide.” He is in Britain to chair a series of ‘yoga shivirs’ and talks organised by the Patanjali Yog Peeth (UK) Trust. The UK Home Office refused to comment on what it described as an individual’s questioning over immigration issues. Ramdev’s spokesperson S K Tejarawala dismissed reports that he was detained for carrying some medicines.