Opening Bell: Cameron's tax questions, window dressing and Anglo Irish, protecting Sean Quinn's old businesses

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David Cameron's admission that he owned, sold and made a profit on shares held in a controversial fund before he became British Prime Minister has prompted a Labour MP to call for him to resign.

Labour MP and Treasury Select Committee member John Mann - who has been a high-profile campaigner for more tax transparency - suggested Mr Cameron "has no choice but to resign" and called him a "hypocrite."

The Labour Party's deputy leader Tom Watson said the PM may need to quit and has more questions to answer.

He told Sky News: "He has to be fully transparent. It's no good just saying he's going to publish his tax returns because that won't show what his investment portfolio was and we need to know that now."

Mr Watson added: "He's condemned other people in public life for being morally wrong whilst knowing he's had investments in these kinds of schemes himself and that shows double standards and people don't like that."

Mr Cameron last night admitted for the first time he held shares in the fund set up by his late father.


A former senior accountant with Anglo Irish Bank has told a trial that balance sheet "window dressing" is a known industry practise.

Four former senior bankers from Anglo Irish Bank and Irish Life and Permanent allegedly misled investors by creating a €7.2bn circular transaction scheme to bolster its balance sheet in 2008.

Peter Fitzpatrick, John Bowe and Denis Casey from Dublin, and Willie McAteer from Tipperary have all pleaded not guilty to charges of conspiring to mislead investors.

Ciaran Cunningham, a former senior manager with Anglo’s Treasury Finance department, said that the €7.2bn transaction was cash neutral, meaning that it didn't create new funds or liquidity.

He said that the practice of "managing a snapshot" involves short-term transactions which occur close to the filing of quarterly reports.


US Bankers are demanding Sean Quinn speak out about an escalating campaign of violence, at his former business premises along the border.

Mr Quinn's companies - in Cavan and Fermanagh - went under the control of three US investment funds after he went bankrupt.

According to reports in today's Irish Times, he is currently acting as an advisor to the companies on a salary of €500,000.

It's understood the businessman is currently trying to regain ownership of Quinn Industrial holdings, which he once owned.


Workers are being urged to look after themselves as part of National Workplace Wellbeing Day.

A survey shows that only 23 percent of Ireland's workforce do the 150 minutes of recommended weekly exercise.

The survey was carried out by Behaviour and Attitudes on 966 employees in January and February of this year.

Dietitian Dr Muireann Cullen, has this advice for simple ways to be more active during your work day: