Lynagh won 72 caps for Australia in the 1980s and 1990s as well as having a distinguished state career for Queensland.
He was part of Australia's Grand Slam-winning team during a tour of Britain and Ireland in 1984, and a key player in the country's 1991 World Cup win.
Lynagh captained Australia from 1993 to 1995 and held the world points scoring record when he retired with 911. He also held the world record for most conversions (140).
London council fined £70k following child sex abuse data breach - Out-Law
The Information Commissioner's Office (ICO) issued its monetary penalty notice (11-page / 1.41MB PDF) after determining that the London Borough of Barnet had been guilty of a serious breach of UK data protection laws.
In April last year the social worker took home paper records featuring details of a complaint about how the police had handled a child sex abuse investigation as well as a "project on child sexual exploitation" they ran. The documents contained "highly sensitive and confidential information, including the names, addresses, dates of birth and details of the sexual activities of 15 vulnerable children or young people," the ICO said.
The social worker stored the papers beside an encrypted computer in a laptop bag, but a thief broke into their house and stole the bag. The ICO said that London Borough of Barnet's "information security policy" was not suitable to "address the risk identified by this security breach".
In considering whether to levy a fine on the authority the ICO said that it had taken account of the fact it had previously obtained undertakings from the body to improve its policy following a previous personal data breach.
"The potential for damage and distress in this case is obvious," Simon Entwisle, the ICO’s director of operations, said in a statement. "It is therefore extremely disappointing the council had not put in place sufficient measures in time to avoid this second loss."
"While we are pleased that Barnet Council has now taken action to keep the personal data they use secure, it is vitally important that organisations have the correct guidance in place to keep sensitive paper records taken outside of the office safe. This includes storing papers containing sensitive information separately from laptops," he said.
Under the Data Protection Act organisations in control of personal data are required to take "appropriate technical and organisational measures" to prevent "unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data". The Act requires extra care around the handling of sensitive personal data, such as information relating to individuals' "physical or mental health or condition" and sex life.
Under the Act the ICO has the power to issue fines of up to £500,000 for serious breaches of personal data.
London 2012 Olympics Ticket Design Revealed - huffingtonpost.co.uk
The ticket design for the London 2012 Olympics has been unveiled, the multi-coloured slips a timely taster of the rapidly approaching Games.
With the Olympic Flame making its way towards the stadium and another stock of tickets released on Wednesday, Locog chief Paul Deighton declared: "I can’t remember a more exciting week on the road to London 2012."
The bright ticket design features a pictogram of the particular sport while the trademark 2012 sloped typeface has been omitted, designers favouring a clearer font.
Information seems to be the basis of the design, with the colour scheme reflecting that of the venue, in order "to help spectators reach their destination" claims Locog.
Most celebratory is the opening ceremony ticket, coloured in gold with one design featuring trumpets.
However perhaps more importantly, each ticket bears the name of the booker, a hologram, and the price paid for the ticket, in order to reduce counterfeiting (the name is featured in the same place as 'Mrs A N Other on the picture).
Detective Superintendent Nick Downing of Operation Podium, which is dedicated to crime affecting the economy of the Olympics, delivered a stark warning regarding black market tickets.
"If you buy from an unofficial site, you risk paying over the odds for a ticket that may not exist, may not be genuine and you risk not getting to see the Games. Your personal details could even be used in other crimes," he said.
London Session: Waiting for the EU summit - International Business Times
Although the EU President said that everything is on the table for discussion tomorrow, he also said that no concrete measures will be taken. Thus, the prospect for a market disappointment remains high. But how will this translate into price action? Euro shorts remain near record levels, which have led some to believe that there is enough downside priced in for a while. But if the situation in the Eurozone gets worse (think failure of EU authorities to act combined with the outcome of the Greek election) and you could see free fall. It's unlikely that an inconclusive summit tomorrow would be enough to trigger another leg lower, although we may test the air around last week's lows of 1.2650.
The risks of a pullback may actually be higher. As we have pointed out in recent days there is a chance of a pullback in risky assets. Not only is the euro looking well oversold, but the Dollar Index is approaching key resistance above 81.50, which could trigger some profit taking by the dollar bulls after it failed to get above this level last week. Added to this the SPX 500 bounced off support just below 1,300 yesterday. For a comprehensive overview and what we think could happen to risk assets post tomorrow's EU summit check out our preview video available on our website outside of the US.
Overall, today's price action shows that although the technical picture may be ripe for a pullback, it is more complicated than that as investors remain sensitive to headline risk. The fairly well received Spanish bond auction this morning, which saw the bid-to-cover ratio rise to over 4, helped spur sentiment. However, we along with equity investors remain suspicious of the bond market in Spain due to the large amount of debt being bought by Spanish banks. This is helping to support auctions and prop up bond prices, meaning that yields are not rising as high as they might without this support. A better indicator of sentiment towards Spain remains the Ibex (the Spanish stock market) and CDS contracts for Spain's largest banks including Santander and Bankia, which remain close to their highest ever levels, although 10-year bond yields are not as high as they were in November and the yield curve (10year yields- 2-yr yields) is much healthier than it was back then. So a "successful" Spanish bond auction isn't giving us the real picture of the state of things in Spain.
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The other big event was Japan's long-term credit rating downgrade to A+ from AA due to high levels of public debt and an inability for politicians to agree to double the consumption tax from 5% to 10%. The OECD, who delivered its semi-annual global economic outlook today, said that doubling this tax should be a top priority before 2014. The OECD delivered good news to the US, upping its growth forecast to 2.4% for this year and 2.6% next year and also expects the jobless rate to fall below 8% this year. Its outlook for the Eurozone was bleak. If the sovereign situation does not deteriorate then growth may contract by 0.1% this year (well below the GDP rate for the US and Japan), however it said that there was a risk of a deep recession if the sovereign crisis blows up. Since that risk is balanced on a knife edge, the risks to growth are very much present, which should be negative for the euro and European stocks in the medium-term. The OECD also said that Eurobonds could be one way to solve this crisis and also urged the ECB to cut interest rates (rates are currently at 1% and significantly higher than in the US where they are 0-0.25%).
The pound took a beating this morning after the IMF said the UK government needs to find a plan B if fiscal consolidation doesn't work and growth doesn't pick up. It also urged rate cuts and more QE, hence the negative impact on the pound.
Market moves:
After trying to break above 1.2820 for the second day, EURUSD then tumbled back below 1.2750. All these levels look a bit shaky in the short-term and before the EU summit. We continue to think that 1.2624 - the January low - will remain as key support in the medium-term.
The pound was hit hard post the IMF news, and fell sharply, although it managed to find support around 1.5820 - a cluster of daily smas. 1.5850 remains key resistance with 1.5750 on the downside. Tomorrow's MPC minutes will be vital to determine the medium-term trend for this cross as we find out just how dovish the MPC actually is. EURGBP has run into resistance just above 0.8100. This may cap the upside until we get 1, the MPC minutes and 2, the outcome of the EU summit. Support lies at 0.8050 first and then 0.8020, if the MPC minutes are deemed dovish then we may see a re-test of 0.80.
Gold has recovered this afternoon as the dollar lost some safe haven appeal after stronger than expected US existing home sales. Resistance lies at $1,595 then at $1, 1614 -the base of the Ichimoku cloud, which may cap the upside in the short-term. Gold is likely to follow market sentiment tomorrow and could break above these resistance levels if the EU summit delivers some "good news".
Best Regards,
Kathleen Brooks| Research Director UK EMEA | FOREX.com
d: +44.(0).20.7429.7924 | f: +44.(0).20.7929.2010 | M: +44 (0) 7919.411.957 | e: kbrooks@forex.com| w: www.forex.com/uk
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