National / International News

A look at the career of the Are You Being Served?

As the 10th anniversary of the beginning of the Iraq war approaches Ben Brown went back to ask if the violence, lasting almost nine years has been worth it

The chopper swooped down. Ropes were dropped to the ground. Two prisoners clambered up and got away. But within hours, Canadian authorities had tracked them down. Just like in the movies, the bad guys were brought to justice.

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A painting on display in the former home of Sir Francis Drake may be a self-portrait by Dutch Master Rembrandt with a valuation of close to £20m.

Hundreds of villagers in Egypt lynch two men for allegedly kidnapping two children and other violent crimes.

The BBC has begun broadcasting its UK TV news service from a purpose built building in central London.

The Labour Party may decide not to back a like-for-like replacement for the UK's Trident nuclear weapons system, if a review finds a cheaper, viable alternative.

Further charges could be brought in the case of two US high school footballers convicted on Sunday of raping a 16-year-old girl, officials say.

European markets are lower this morning on news out of Cyprus. In order to obtain an EU bailout, the country introduced a proposal over the weekend to tax its bank depositors up to 10 percent, though analysts expect the final levy to be closer to 3 percent.

Julia Coronado, chief economist with the investment bank BNP Paribas, joins Marketplace Morning Report host Jeremy Hobson to explain how the situation in Cyprus is rippling out to other economies around the world.

Twenty-four hours of news photos: 18 March

Join BBC's Robert Peston for Twitter Q&A today

Following Wales's Six Nations success, BBC Sport's Bryn Palmer picks a team of the tournament.

DIGIONLY

David Hockney's assistant dies after he is taken to hospital from the artist's home.

The $13 billion bailout by the eurozone and IMF would levy a one-time charge on deposits, including those of Russian oligarchs who have billions of euros in Cypriot banks.

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Is Rocky Horror writer Richard O'Brien normal for thinking himself a "third sex" between male and female?

A British man is thought to have died while trying to find his son in the French Alps, police say.

Junior Transport Minister Norman Baker makes a bid for pop stardom with his band The Reform Club.

Financial markets in Asia and Europe fell sharply today thanks to the unusual terms of the EU bailout of Cyprus. A tax of up to 10 percent on bank deposits in Cyprus was proposed to defray some of the cost of the bailout. The plan is likely to be softened before the Cypriot parliament votes on the package tomorrow. But, has damage already been done?

Though the levy on deposits is unusual method, there’s no mystery why it is being imposed on bank accounts in Cyprus. The Germans in particular insisted on it. They believe that large amounts of cash in the Cypriot banking system belong to Russian money launderers, and that it’s only right that they too should bear some of the cost of the bailout.

But the levy also hits ordinary law abiding depositors. And that’s dangerous says fund manager Henry Dixon, who believes it could undermine confidence in the banks in other troubled eurozone countries:

"I think this is a scary measure," says Dixon. "It would be absurd to think that people are not thinking about depositors in Ireland, Portugal, Italy, Spain and thinking maybe -- you know -- my money’s better out of the bank and under a mattress."

There are even doubts about the legality of the savings tax since most European bank accounts of $130,000 are insured.

And while much of the effort expended on the eurozone debt crisis has focused on re-building trust in the banks, there are some fears that this latest proposal could trigger a bank run.

Mark Sanford, the South Carolina governor whose infamous affair led to his political downfall, is among 16 Republicans in Tuesday's primary. But he is by far the best-known and the most controversial. The special election will fill the seat left open when Tim Scott was tapped to replace retiring Sen. Jim DeMint.

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