Tony Blair

Anthony Charles Lynton Blair (born 6 May 1953) is a former British Labour Party politician who served as the Prime Minister of the United Kingdom from 2 May 1997 to 27 June 2007. He was the Member of Parliament (MP) for Sedgefield from 1983 to 2007 and Leader of the Labour Party from 1994 to 2007; he resigned from all these positions in June 2007.

Tony Blair was elected Leader of the Labour Party in the leadership election of July 1994, following the sudden death of his predecessor, John Smith. Under his leadership, the party adopted the term "New Labour" and moved away from its traditional left wing position towards the centre ground. Blair subsequently led Labour to a landslide victory in the 1997 general election. At 43 years old, he became the youngest Prime Minister since 1812. In the first years of the New Labour government, Blair's government implemented a number of 1997 manifesto pledges, introducing the minimum wage, Human Rights Act and Freedom of Information Act; and carrying out regional devolution, establishing the Scottish Parliament, the National Assembly for Wales, and the Northern Ireland Assembly.

Blair's role as Prime Minister was particularly visible in foreign and security policy, including in Northern Ireland, where he was involved in the 1998 Good Friday Agreement. From the start of the War on Terror in 2001, Blair strongly supported United States foreign policy, notably by participating in the 2001 invasion of Afghanistan and 2003 invasion of Iraq. In his first six years, Blair had British troops ordered into battle five times — more than any other prime minister in British history.

Blair is the Labour Party's longest-serving Prime Minister; the only person to have led the Labour Party to three consecutive general election victories; and the only Labour Prime Minister to serve consecutive terms more than one of which was at least four years long. He was succeeded as Leader of the Labour Party on 24 June 2007 and as Prime Minister on 27 June 2007 by Gordon Brown, who was Chancellor of the Exchequer. On the day he resigned as Prime Minister, he was appointed the official Envoy of the Quartet on the Middle East on behalf of the United Nations, the European Union, the United States, and Russia.

In May 2008, Blair launched his Tony Blair Faith Foundation. This was followed in July 2009 by the launching of the Faith and Globalisation Initiative with Yale University in the USA, Durham University in the UK and National University of Singapore in Asia to deliver a postgraduate programme in partnership with the Foundation.

(source:wikipedia)

London Stock Exchange

The London Stock Exchange is a stock exchange located in the City of London, London, United Kingdom. As of August 2010, the Exchange had a market capitalisation of US$2.63 trillion, making it the fourth largest stock exchange in the world and the largest in Europe.

The Exchange was founded in 1801 and its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. The Exchange is part of the London Stock Exchange Group.

About the Exchange,

London Stock Exchange Origin of share trading,

Paternoster Square. The LSE occupies the building that takes up much of the right side of this picture.,

The trade in shares in London began with the need to finance two voyages: The Muscovy Company's attempt to reach China via the White Sea north of Russia, and the East India Company voyage to India and the east. The trading in the stocks of the second company began in 1688.

Unable to finance these expensive journeys privately, the companies raised the money by selling shares to merchants, giving them a right to a portion of any profits eventually made.

 Exchange

The idea soon caught on (one of the earliest was the Earl of Bedford's scheme to drain The Fens). It is estimated that by 1695, there were 140 joint-stock companies. The trade in shares was centred around the City's Change Alley in two coffee shops: Garraway's and Jonathan's. The broker, John Castaing, published the prices of stocks and commodities called The Course of the Exchange and other things in these coffee shops.,

London Stock Exchange Licensing of brokers,

In 1697, a law was passed to "restrain the number and ill-practice of brokers and stockjobbers" following a number of insider trading and market-rigging incidents. It required all brokers to be licensed and to take an oath promising to act lawfully.

London Stock Exchange Membership of foreigners

Previously, all members of the London Stock Exchange had to be British as per Rule 21. The nationality requirement was lifted in 1970. This allowed foreigners to become members of the London Stock Exchange, the first approved membership being that of Egyptian prince Abbas Hilmi.

London Stock Exchange The South Sea Bubble,

The Change Alley exchange thrived. However, it suffered a setback in 1720.

Much excitement was caused by the South Sea Company, stoked by brokers, the company's owner John Blunt and the government. Having set up the unprofitable company nine years previously, the government hoped to wipe out the large debts accumulated by offering shares to the public.

Shares in the company, which had started at £128 each at the start of the year, were soon fetching as much as £1,050 by June. The bubble inevitably burst, with share prices plunging to £175, then £124.

The incident caused outcry, forcing the government to pass legislation to prevent another bubble, and it took a long time for the stock exchange to recover.

London Stock Exchange Coat of Arms,

The Exchange received its own Coat of Arms in 1923. Its motto is dictum meum pactum, "My word is my bond".

IRA bomb

On 20 July 1990 a bomb planted by the IRA exploded in the men's toilets behind the visitors' gallery. The area had already been evacuated and nobody was injured. The long term trend towards electronic trading had been reducing the Exchange's status as a visitor attraction and, although the gallery reopened, it was closed permanently in 1992.

London Stock Exchange Location,

Threadneedle Street and Capel Court

Former LSE premises in Threadneedle Street

LSE reception

Jonathan's burnt down in 1748, and this, plus dissatisfaction with the overcrowding in the Alley, made the brokers build a New Jonathan's on Threadneedle Street, as well as charging an entrance fee. The building was soon renamed the Stock Exchange, only to be renamed again as the Stock Subscription Room in 1801, with new membership regulations.

However, this too proved unsatisfactory, and the Exchange moved to the newly built Capel Court in the same year. The Exchange had recovered by the 1820s, bolstered by the growth of the railways, canals, mining and insurance industries (there were, however, problems with stags and dividend payments). Regional stock exchanges were formed across the UK. Bonds (or gilt-edged securities) also began to be traded.

The London Stock Exchange Tower

The former Stock Exchange Tower, based in Threadneedle Street/Old Broad Street was opened by Queen Elizabeth II in 1972 and housed the Trading Floor where traders would traditionally meet to conduct business. This became largely redundant with the advent of the Big Bang on 27 October 1986, which deregulated many of the Stock Exchange's activities. It eliminated fixed commissions on security trades and allowed securities firms to act as brokers and dealers. It also enabled an increased use of computerised systems that allowed dealing rooms to take precedence over face to face trading.,

London Stock Exchange Paternoster Square,

In July 2004, the London Stock Exchange moved from Threadneedle Street to Paternoster Square (EC4) close to St Paul's Cathedral, still within the "Square Mile" (the City of London).

It was officially opened by Queen Elizabeth II once again, accompanied by The Duke of Edinburgh, on 27 July 2004.

Pursuit of LSE by prospective merger partners

 Nasdaq

In December 2005, the London Stock Exchange rejected a £1.6 billion takeover offer from Macquarie Bank. The London Stock Exchange described the offer as "derisory", a sentiment echoed by shareholders in the Exchange. Shortly after Macquarie withdrew its offer, the LSE received an unsolicited approach from NASDAQ valuing the company at £2.4 billion. This too it rejected. NASDAQ later pulled its bid, and less than two weeks later on 11 April 2006, struck a deal with LSE's largest shareholder, Ameriprise Financial's Threadneedle Asset Management unit, to acquire all of that firm's stake, consisting of 35.4 million shares, at £11.75 per share. NASDAQ also purchased 2.69 million additional shares, resulting in a total stake of 15%. While the seller of those shares was undisclosed, it occurred simultaneously with a sale by Scottish Widows of 2.69 million shares. The move was seen as an effort to force LSE to the negotiating table, as well as to limit the Exchange's strategic flexibility.

Subsequent purchases increased NASDAQ's stake to 25.1%, holding off competing bids for several months. United Kingdom financial rules required that NASDAQ wait for a period of time before renewing its effort. On 20 November 2006, within a month or two of the expiration of this period, NASDAQ increased its stake to 28.75% and launched a hostile offer at the minimum permitted bid of £12.43 per share, which was the highest NASDAQ had paid on the open market for its existing shares. The LSE immediately rejected this bid, stating that it "substantially undervalues" the company.

NASDAQ revised its offer (characterized as an "unsolicited" bid, rather than a "hostile takeover attempt") on 12 December 2006, indicating that it would be able to complete the deal with 50% (plus one share) of LSE's stock, rather than the 90% it had been seeking. The U.S. exchange did not, however, raise its bid. Many hedge funds had accumulated large positions within the LSE, and many managers of those funds, as well as Furse, indicated that the bid was still not satisfactory. NASDAQ's bid was made more difficult because it had described its offer as "final", which, under British bidding rules, restricted their ability to raise its offer except under certain circumstances.

In the end, NASDAQ's offer was roundly rejected by LSE shareholders. Having received acceptances of only 0.41% of rest of the register by the deadline on 10 February 2007, Nasdaq's offer duly lapsed. Responding to the news, Chris Gibson-Smith, the LSE's chairman, said: "The Exchange’s strategy has produced outstanding results for shareholders by facilitating a structural shift in volume growth in an increasingly international market at the centre of the world’s equity flows. The Exchange intends to build on its exceptionally valuable brand by progressing various competitive, collaborative and strategic opportunities, thereby reinforcing its uniquely powerful position in a fast evolving global sector."

On 20 August 2007, NASDAQ announced that it was abandoning its plan to take over the LSE and subsequently look for options to divest its 31% (61.3 million shares) shareholding in the company in light of its failed takeover attempt. In September 2007, NASDAQ agreed to sell the majority of its shares to Borse Dubai, leaving the United Arab Emirates-based exchange with 28% of the LSE.,

London Stock Exchange Products & Services,

The London Stock Exchange has four core areas:

* Equity markets: enables companies from around the world to raise capital. There are four primary markets:

o The Main Market.

o AIM, established in 1995 for smaller companies.

o The Professional Securities Market, for raising capital through debt securities or depositary receipts.

o The Specialist Fund Market, "designed purely for the needs of highly specialised investment entities seeking institutional, professional and highly knowledgeable investors."

* Trading services: market for trading in a range of securities, including UK and international equities, debt, covered warrants, exchange traded funds (ETFs), Exchange Traded Commodities (ETCs), reits, fixed interest, contracts for difference (CFDs) and depositary receipts.

* Information Services: the London Stock Exchange provides real-time prices, news and other financial information. It owns the Regulatory News Service

* Derivatives: the Exchange manages EDX London, a contributor to derivatives business created in 2003 with an aim of bringing the cash equity and derivatives markets closer together.,

London Stock Exchange Technology,

The original LSE trading platform, based on Microsoft's .NET framework, was developed by Microsoft and Accenture. Microsoft used the LSE software as an example of the supposed superiority of Windows over Linux in the "Get the Facts" campaign, claiming that the LSE system provided "five nines" reliability. For Microsoft, LSE was a good combination of a highly visible exchange and yet a relatively modest IT problem.After suffering extended downtime and unreliability the LSE announced in 2009 that it was planning to switch to Linux in 2010.

In October 2010, the London Stock Exchange announced the new Linux based trading system had smashed the world record for trade speed, with 126 microsecond trading times being recorded on the Turquoise dark pool trading venue.,

London Stock Exchange Hours,

Normal trading sessions are from 08:00 to 16:30 every day of the week except Saturdays, Sundays and holidays declared by the Exchange in advance. The detailed schedule is as follows:

Trade Reporting 07:15 - 07:50

Opening Auction 07:50 - 08:00

Continuous Trading 08:00 - 16:20

VWAP 16:20 - 16:30

Closing Auction 16:30 - 16:35

Order Maintenance 16:35 - 17:00

Trade Reporting Only 17:00 - 17:15

Holidays are currently: New Year's Day, Easter, May Bank Holiday, Spring Bank Holiday, Summer Bank Holiday, and Christmas.

Note that UK Time is Greenwich Mean Time (GMT), with daylight-saving time observed.

London Stock Exchange Levels,

As at 31 July 2010, the Exchange listed 2,713 companies, consisting of:

* UK Main Market: 1,114

* International Main Market: 327

* AIM: 1,222

* Professional Securities Market (PSM): 44

* Specialist Fund Market (SFM): 6

(source:wikipedia)

Tourism in London

London is one of the world's leading tourism destinations, and the city is home to an array of famous tourist attractions. London attracts almost 15 million international visitors per year, making it the world's most visited in terms of international visits. The Tourist Board for London is called Visit London. The Britain and London Visitor Centre is located on Lower Regent Street, near Piccadilly Circus.

The River Thames before sunrise

Economics of tourism in London

A tourist stall selling various London and United Kingdom related souvenirs on the edge of Trafalgar Square on the Strand.

The Government Office for London states that tourism revenues constitute 10 per cent of London’s gross value added and contributes to the employment of up to 13 per cent of London’s workforce. According to the London Development Agency, visitors to London spend around £15bn each year.

Weather

Although London is a beautiful city with many indoor attractions, it is usually rainy or cold during the Autumn and Winter months (October to February). The best time to visit London would be during the Summer when the average high temperatures are around 23°C (73°F). Winter months are cold with highs around 7°C (45°F). September and October are especially wet and rainy.

Places to Stay

Since London is a big city and tourist destination there are many places for someone to stay during their trip. There are many hotels (luxury and tourist), Bed and Breakfast hotels and flats (hotels apartments). Many of these accommodations are located within walking distance of many tourist attractions. Prices vary depending on the type of hotel you choose. Luxury and tourist hotels tend to be more expensive. Bed and Breakfast homes are usually on the more affordable side and include breakfast in the morning. Flats are apartments rented out to tourists. These are ideal for stays longer than one week in length.

Getting Around

Tourists consulting a map near St Paul's Cathedral. These maps are placed at a number of locations in the city of London, in order to assist with navigate the often confusing streets, lanes and alleys.

There are many ways to move around the city of London, such as walking or taking the underground (the subway) or bus. Many of London's attractions are within walking distance of each other. Obtain a good tourist map or guide book to see which can be managed on foot. These will also have an Underground map (see 'Subway').

Underground

The London Underground or "The Tube" as it is commonly called by locals, is a popular way to travel around London. It is considered the easiest and quickest way to move around. The subway has 12 lines that run from Monday through Saturday between the hours of 5am to midnight. Although, it also runs on Sunday, the hours of operation are reduced.

Bus

Another very popular way to move about the city is to take the bus. This mode of transportation provides 24 hour service all week. Some buses even offer tours to point out historical landmarks and tourist attractions. Taking the bus requires that you have already purchased a ticket. These are easy to obtain at any ticket machine near major stops. Prices of a bus pass vary depending on the number of days with a one day pass at £3.80 and a week long pass at £13.80.

There are also special open-top tourist buses where you can buy an all-day ticket and get on and off the bus at various tourist attractions of your choice. Alternatively, you can stay on the bus and enjoy the guided tour. These buses can be found in Tavistock Square, half-way between the British Museum and the British Library.

Tickets

There are two types of prepaid tickets used for various modes of transportation around the city. The first type of ticket is the contactless smartcard- the Oyster Card. The holder loads the card with credit which can then be used to ride on the Underground, bus, tramlink and some National Rail Service lines. These tickets are can be used at anytime, but are charged differently depending on peak and off-peak times. Daytime off-peak and reduced fares on the Tube are from 9.30am to 4.00pm and after 7pm Monday to Friday.

Zone	Peak Price	Off-peak Price
1-2	£2.30	£1.80
1-6	£4.20	£2.40

The second type of ticket is the Travel Card. it allows for the same travel privileges as the Oyster Card but includes all National Rail Service lines. The prices of the tickets are shown below.

Days	Zone	Price
1	1-6	£7.50
3	1-6	£22.50
7	1-6	£47.60

Tourist attractions

Central London

London is home to many tourist attractions that are known worldwide. Some of the most popular include the many museums located in the city, many of which offer free entry. The British Museum holds seven million exhibits that not only have to do with London, but Ancient Egypt, Greece and Rome, etc. Popular exhibits include the Elgin Marbles, the Rosetta Stone, 'Ginger', the world's oldest mummy, Lindow Man, etc. The British Museum is open seven days a week and is free.

The British Library holds many literary exhibits and displays the original manuscripts of such classics as Alice in Wonderland, the notebook of Jane Austen, Charlotte Bronte's manuscript of Jane Eyre, Oscar Wilde's The Ballad of Reading Gaol, Magna Carta, a Gutenberg Bible, Codex Sinaiticus, the autograph of William Shakespeare, original music scores by Arthur Sullivan, Handel and Beethoven in a permanent exhibition of over 200 exhibits in The Sir John Ritblat Gallery. This gallery is open to the public seven days a week and is free.

The Victoria and Albert Museum in Kensington is the world's largest museum of decorative arts and design, housing a permanent collection of over 4.5 million objects. Named after Prince Albert and Queen Victoria, the museum was founded in 1852, and has since grown to now cover some 12.5 acres (0.05 km²) and 145 galleries. Its collection spans 5000 years of art, from ancient times to the present day, in virtually every medium, from the cultures of Europe, North America, Asia and North Africa. Admission is also free.

There are also historic or cultural attractions, the most popular of which include Buckingham Palace. This royal palace is still in use today. Here, visitors (approximately 15 million tourists every year) can witness the "Changing of the Guard" when a member of the royal family is in residence. During the summer months, some rooms are open to the public for tours. Other sights include The Tower of London, an historic royal fortress that holds the Crown Jewels of England. Nearby is the famous Tower Bridge, which is often mistaken by tourists for London Bridge.

Other attractions include Trafalgar Square, Covent Garden, London Eye, London Zoo, the Natural History Museum, the Globe Theatre, the Charles Dickens Museum and Madame Tussauds. There are many more attractions in the city itself, and in the surrounding areas. It is recommended that the visitor buy a good guide book to London and plan what he or she wants to see in advance. The larger museums, such as the British Museum and the Victoria and Albert Museum will take several days to get around. It is best to select a few objects that one particularly wants to see and concentrate on them.

London's West End is the city's theatre district. Here the latest stage shows and musicals can be seen. However, these are usually very popular and it is advised to book your tickets as far in advance as possible. All London's theatres have their own websites for booking tickets. These can be picked up at the Box Office on the day or sent by post.

View across Trafalgar Square

Outer London

Outer London is very accessible from Central London by London Underground, London Buses, or London Taxi. Chessington World Of Adventures is a theme park within the Greater London boundary.

Outer London offers attractions such as farms, golf courses, horse riding, Hampton Court Palace, and attractions similar to those in Central London such as museums and gardens, but not as high capacity.

(source:wikipedia)