Authorities in Italy say they have seized works of art belonging to, and concealed by, the convicted founder of Italian firm Parmalat, Calisto Tanzi.
The 19 paintings and drawings, including works by Picasso, Monet and Van Gogh, are worth more than 100m euros (£90m), financial police said.
Tanzi denied owning any secret art collection earlier this week, Italian newspapers reported.
The concealed art was found in houses belonging to friends of the family.
Sunday, December 6, 2009
Tokyo is poised to back loans to keep carrier JAL going
The Japanese government is to guarantee 700bn yen ($7.7bn; £4.7bn) in loans and other funds from financial bodies to keep Japan Airlines going, reports say.
Funding will come from an extra budget for the financial year to March, which is expected to be approved this week, the Nikkei business daily has said.
It is hoped the move will keep debt-hit JAL from having to suspend scheduled flights due to a shortage of funds.
JAL has been struggling with rising fuel prices and competition
Funding will come from an extra budget for the financial year to March, which is expected to be approved this week, the Nikkei business daily has said.
It is hoped the move will keep debt-hit JAL from having to suspend scheduled flights due to a shortage of funds.
JAL has been struggling with rising fuel prices and competition
Chancellor Alistair Darling warns banks over bonuses
Chancellor Alistair Darling has warned banks that the government will not be "held to ransom" over bonuses.
He played down reports he will hit bankers with a windfall tax on bonuses in Wednesday's pre-Budget report.
But he told BBC One's Andrew Marr show the better-off would have to shoulder more of the "burden" of recovery.
Shadow chancellor George Osborne would not rule out a windfall tax on bonuses, likely to hit £6bn this year, but said he would prefer a future profits tax.
He played down reports he will hit bankers with a windfall tax on bonuses in Wednesday's pre-Budget report.
But he told BBC One's Andrew Marr show the better-off would have to shoulder more of the "burden" of recovery.
Shadow chancellor George Osborne would not rule out a windfall tax on bonuses, likely to hit £6bn this year, but said he would prefer a future profits tax.
Darling may shelve multi-billion pound NHS IT system
A multi-billion pound NHS IT system may be cancelled in Wednesday's pre-Budget report, Alistair Darling has hinted.
The chancellor said the "quite expensive" programme, which has been hit by problems and delays, could be axed to save cash.
He told BBC One's Andrew Marr show it was "not essential to the frontline" and "something which I do not think we need to go ahead with just now".
The chancellor said the "quite expensive" programme, which has been hit by problems and delays, could be axed to save cash.
He told BBC One's Andrew Marr show it was "not essential to the frontline" and "something which I do not think we need to go ahead with just now".
iPhone orchestra ready for debut
A group of US students has created an entire orchestra out of separate iPhone applications.
As part of their studies, the group from the University of Michigan built the applications themselves and composed music for them.
While some of the applications sound similar to traditional instruments, others make unique noises.
The iPhone handsets are attached to speakers which the performers wear around their wrists.
A live concert of the students' original compositions is planned for 9 December. It will mark the end of their three-month course, run by Austrian computer scientist and musician Georg Essl.
As part of their studies, the group from the University of Michigan built the applications themselves and composed music for them.
While some of the applications sound similar to traditional instruments, others make unique noises.
The iPhone handsets are attached to speakers which the performers wear around their wrists.
A live concert of the students' original compositions is planned for 9 December. It will mark the end of their three-month course, run by Austrian computer scientist and musician Georg Essl.
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