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Friday 30 August 2013

UK Financial News on 2013-08-30

UK recovery 'gathering momentum'
The economic recovery is gathering momentum, the British Chambers of Commerce claims, as it sharply ups its growth forecast for this year......

India's economy continues slowdown
The latest figures on the Indian economy show a growth rate of 4.4% for the April-June quarter, compared with the same period the previous year......

Three abolishes some roaming charges
Mobile phone operator, Three, abolishes roaming charges for its customers in seven countries......

US consumers spend less in July
US consumers barely increase their spending in July, as workers saw their salaries shrink due to government spending cuts......

Apprenticeship demand up by a third
Applications for apprenticeships made online rose by almost third during the twelve months to the end of July compared to the previous year......

House prices 'rise at brisk pace'
UK house prices continued to rise at a "fairly brisk pace" in August, increasing by 0.6% compared with July, the Nationwide says......

Motor trade claims DVLA 'shambles'
The Driver and Vehicle Licensing Agency is described as a "shambles" in its handling of car registrations......

Brazil GDP stronger than expected
The Brazilian economy, Latin America's largest, is boosted by agricultural production in the second quarter of the year......

South Africa gold miners call strike
Gold miners in South Africa call a strike over their wage demands, to start on Tuesday, mine-owners say......

'Postcode divide' in state pension
Huge variations in life expectancy create a "postcode divide" in state pension entitlement, a report by the TUC claims......

HSBC ups business banking charges
HSBC is to increase its charges for 700,000 small business customers from Sunday, with many losing their free banking service......

Eurozone unemployment remains steady
The eurozone's unemployment rate remained steady at its record 12.1% during July, official figures show......

Hermes sales growth drives profits
French luxury goods retailer Hermes sees profits jump as its global luxury goods sales remain robust in all regions, despite uncertain economic outlook......

China's Sinopec signs Egypt oil deal
China Petrochemical Corporation, also known as Sinopec, agrees to buy a 33% stake in the Egyptian oil and gas business of US firm Apache Corporation......

London Market Report
Internet betting firm Bwin.party Digital Entertainment is the biggest faller on the London market after it warns full-year revenues will be up to 17% lower......

BT hangs up on dial-up net service
Telecoms firm BT prepares to turn off its dial-up internet access service on 1 September......

Turning the tables on cold callers
A Leeds man is turning cold calls into profit by making marketing companies use his higher-rate line......

Firefighters vote for pension strike
Members of the Fire Brigades Union vote in favour of industrial action, in a row over plans to raise the age at which they get their full pension......

Mortgage lending competition rises
Competition between providers in the mortgage market is growing as activity in the housing sector picks up, a lenders' group has said......

Amazon to alter pricing strategy
Online retailer Amazon is to alter its pricing policy for third-party traders amid investigations in the UK and Germany......

Japan consumer price rises speed up
Consumer prices in Japan rise at the fastest pace in nearly five years in July, as policymakers' attempts to end deflation appear to pay off......

US economic growth revised to 2.5%
The US economy grew at an annualised pace of 2.5% in the second quarter of the year, the Commerce Department said in revised figures......

Portugal court rejects job cut plan
Portugal's highest court rejects the government's plans to make it easier to fire civil servants, saying the measure is unconstitutional......

Commonwealth tickets in high demand
Organisers of next year's Commonwealth Games in Glasgow say ticket applications for some events have already outstripped supply......

NFL in '$765m concussion settlement'
The National Football League reaches a $765m (490m) settlement with former players who say it hid the dangers of concussion, a judge says......

Rams slammed over e-cigarette deal
Derby County should not have signed a sponsorship deal with an electronic cigarette company, a health professional says......

VIDEO: 'Onions indicate Indian economy'
The decline of the Indian economy is reflected in the rising cost of staples such as onions, as Nitin Srivastava reports from a market in Delhi......

VIDEO: Solar cookers and prosthetics
Will Ross visits South Africa's Innovation Summit and meets the inventors of self-heating lifejackets, solar cookers and prosthetics......

VIDEO: Banking with insurance worries
There has been a rise in the rate of complaints about bank accounts that come with extras like travel insurance......

VIDEO: 'Brazilians not celebrating yet'
Brazil's economy grew by 3.3% year-on-year in the second quarter, according to official new state figures. However, as the BBC's Ruth Costas in Sao Paulo explains, "Brazilians are not celebrating yet"......

VIDEO: Launch of self-assembly camera
A self-assembly digital camera designed to teach children about the technology involved has been launched in the US......

VIDEO: How to sell lobsters in Jakarta
Afit Dwi Purwanto set up a lobster restaurant in Jakarta in February, and tells the BBC how he got started and how he makes his money......

VIDEO: Indian economy's fall from grace
The Indian economy has been described as entering "a tailspin" with the rupee losing about a quarter of its value since May. Yogita Limaye looks at the impact on businesses and individuals in Mumbai......

VIDEO: ICBC: 'Outlook is complicated'
Chinese banking giant ICBC has warned that the economic outlook is "complicated and uncertain", as the BBC's Juliana Liu reports......

Syria: Would strikes push oil prices to record highs?
Will strikes push oil prices to record highs?.....

Hot harvest
British chillies have never been more in demand.....

Lava lamps: Still bubbling at 50
Fifty years of the lava lamp.....

Brazil GDP jump may not last
Aug 30- Despite better-than-expected economic growth in the second quarter, Brazil's economy still faces major headwinds. Bobbi Rebell reports......

GE to spin off credit card unit
Aug. 30 - General Electric reportedly plans to separate its credit card business through an IPO early next year as the conglomerate focuses on its industrial businesses. Fred Katayama reports......

Electric hemp scooter aims high as eco alternative
Aug. 30 - According to its Dutch developers, an electric scooter made entirely from natural materials, including around 80 percent hemp, offers a sustainable alternative to fossil fuel power. The Be.e scooter has enough power on a single charge to tr.....

Euro zone optimism, despite unemployment
Aug. 30 - Optimism in the euro zone's economy improved sharply in August - but high unemployment remains stubborn. Kirsty Basset reports......

South African gold miners prepare to strike
Aug.30 - South Africa gold producers are set set to strike from next Tuesday after talks over wages broke down. It could cost South Africa's economy over $35 mln a day in lost output. Ciara Sutton reports......

Unemployed Spaniards get German job chance
Aug. 30 - Some German companies are struggling to recruit apprentices - and are looking to troubled euro zone countries like Spain where youth unemployment is rocketing and there's a pool of young, qualified workers. Joanna Partridge reports on the y.....

UK Government defeated over Syria action
Aug. 30 - UK Prime Minister David Cameron has lost a parliamentary vote 285 to 272 - which was meant to pave the way for Britain to join a looming military strike on Syria. The shock defeat sent the price of oil down, as Ivor Bennett reports......

Luxury group Herms sees strong demand
Aug 30 - French luxury group Herms beat forecasts, posting a 14 per cent rise in first-half operating profit, thanks to strong demand for its silk accessories and handbags - some of which sell for up to 30,000 euro. Ciara Sutton reports......

Asia Week Ahead: A new "Great Game" in Central Asia?
' Asia Economics Editor Wayne Arnold tells us why to keep an eye on the trip......

Reuters Breakingviews: Cameron humiliation his own doing
Aug. 30 - Prime minister David Cameron may cling onto power, but his authority at home and influence abroad have been greatly diminished. And it's all his own fault, says Hugo Dixon......

Headwinds, but no crisis for China's banks
Aug. 30 - China's 'big four' banks have produced forecast-beating results and relatively healthy books - so why do investors remain so cynical? Tara Joseph asks a sector specialist......

Camerons historic defeat on Syria How, why, and what next
Aug. 30 - Britain will not engage in military action on Syria, after PM David Cameron suffered a humiliating defeat in parliament. What led to his historic defeat and where does it leave him and the country?.....

Reuters Today: U.S. isolation on Syria halts dollar's rise
Aug. 30 - After the UK decided not to join the U.S. in military action against Syria the dollar takes a breather as uncertainty over the timing of any move mounts.....

Google's C-suite soap opera
Aug. 29 - Google co-founder Sergey Brin and his wife are living apart, with Brin reportedly involved with a Google staffer. Conway G. Gittens reports......

Economic surprise lifts Wall Street
Aug 29 - Summary: Stocks held gains sparked by a robust revision to second-quarter growth figures and a drop in jobless claims; Verizon, Vodafone chatting up wireless deal; Ford brings jobs back to Detroit. Conway G. Gittens reports......

Bling's the thing- even on a budget
Aug 29 - Affordable jewelry is attracting consumers- drawn to the perception of long lasting value and gift appeal. Bobbi Rebell reports......

Fruit fly brain map a boon to neuroscience
Aug. 29 - Scientists at the Howard Hughes Medical Institute in Virginia have successfully mapped the circuitry in a small region of a fruit fly brain. The researchers, who work at HMMI's Janelia Farms Research Campus, say it is a small but important .....

UK's Co-op bank posts massive losses
Aug. 29 - Britain's Co-operative bank has reported over 700 million pounds in pre-tax losses for the first half of the year, a position the bank's parent group says could take four years to recover from. Ivor Bennett reports......

Ackermann leaves Zurich after CFO death
Aug. 29 - Josef Ackermann resigned as chairman of Zurich Insurance on Thursday over the apparent suicide of the insurer's CFO Pierre Wauthier. Joanna Partridge looks at the pressures facing top executives......

Swiss engineers bring acoustic solution to noise pollution
Aug. 29 - Swiss-based acoustic engineers are developing a sound tracking system they say will help regulators control traffic flow and reduce road noise. The World Health Organization says road noise is a major contributor to poor health in Europe bu.....

Breakingviews: Minimum wage woes
Aug. 29 - With fast-food workers set to strike, a new study shows how welfare usually pays more than low-wage jobs. Jeffrey Goldfarb and Richard Beales discuss the conundrum for policymakers......

JPMorgan may settle "Whale" probe for $600 million
Aug 29 - JPMorgan Chase & Co is in talks with a group of regulators to settle investigations into last year's "London Whale" trading scandal, which cost the bank more than $6 billion. Kirsty Basset reports......

ROUGH CUT: UK PM Cameron debates Syria in parliament
Aug. 29 - British Prime Minister David Cameron and opposition leader Ed Miliband debate military intervention in Syria......

Vodafone confirms sale talks with Verizon
Aug 29 - UK telecom giant Vodafone confirms talks have begun with US company Verizon Communications over the sale of its 45 percent share in their joint venture Verizon Wireless, in a deal that could be worth $130 billion. Ivor Bennett reports......

North Korea Defectors: pop acts, rebel artists, & TV Hosts
Pictures show many of them have made new lives, from TV hosts to artists and activists......

George Osborne and Mark Carney press EU over bank regulation
George Osborne and Mark Carney have agreed Britain should put more pressure on the European Union to reach a deal with the US over the regulation of major banks.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/309.....

Pub campaigners drink to their closure
Editor of The Good Pub Guide said some pubs deserve to close because they are so awful.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/309b0301/sc/26/mf.gif' border='0'/><br clear='all'/><div class='m.....

India pushes 'shock and awe' currency plan to save BRICS
India is pushing for joint intervention by key BRIC states to halt capital flight and shore up currencies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/309afca7/sc/11/mf.gif' border='0'/><br clear='all'/&.....

Aviva unsettled by Barclays analysts
The insurer's shares were heavy fallers in a weak market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/309ae8f0/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table border='0.....

Sainsbury's returns to site of first self-service supermarket
The site where Sainsbury's opened its first self-service supermarket in 1950 and kick-started a revolution in how Britons shop for their food has become a grocery store again.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Mortgage lending and house prices stoke fears of housing bubble
Mortgage lending levels have hit their highest levels since the start of the financial crisis and house prices have climbed again, compounding fears that Government policies may be creating a fresh property bubble.<img width='1' height='1' src='ht.....

Mark Carney challenge laid bare as SMEs repay more than they borrow
Britain's small businesses paid back more bank loans than they borrowed during July suggesting that they will need more convincing over Mark Carney's flagship policy of "forward guidance".<img width='1' height='1' src='http://telegraph.feedsportal.....

Carney challenge laid bare as SMEs repay more than they borrow
BRITAIN'S small businesses paid back more bank loans than they borrowed during July suggesting that they will need more convincing over Mark Carney's flagship policy of "forward guidance."<img width='1' height='1' src='http://telegraph.feedsportal.....

Consumer protection comes at too high a price
Throwing money at consumer protection might not be the answer to recent scandals.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3099fb78/sc/25/mf.gif' border='0'/><br clear='all'/><div class='mf-vira.....

ECB set for clashes over rate cut after inflation falls
Lower-than-expected inflation in the eurozone is set to further divide leaders at the European Central Bank as they gather for their policy-setting meeting next week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

Business news and markets: as it happened - August 30, 2013
The FTSE 100 ended the week and the month down hit by nervousness about a possible Western strike on Syria.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3099a256/sc/2/mf.gif' border='0'/><br clear='all'/&.....

Liberace's mansion bought by British businessman
Martyn Ravenhill said he learned to play the piano after being inspired by the flamboyant performer.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3090c97e/sc/38/mf.gif' border='0'/><br clear='all'/><.....

Business news and markets: live
The pound is heading for its biggest monthly gain against the euro in more than a year as a string of bright economic data strengthened the currency.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30940638/sc/2/m.....

Hermes creates $12,900 basketball
French fashion group Hermes creates a $12,900 basketball to grace its renovated Los Angeles store.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30992ace/sc/19/mf.gif' border='0'/><br clear='all'/><d.....

Don't play dumb Marissa Mayer, you can be both pretty and smart
Yahoo chief Marissa Mayer has caused a stir by posing for a photoshoot in the US Vogue. What's more alarming is that she says she's a "shy" girl who just "fell" into her job as CEO of the tech giant. Don't play dumb, says Julia Oliphant.<img width.....

UK lending: in graphs
Lending to home-buyers is at its highest in more than five years and lending to businesses has risen for the first time since January. (Source: Bank of England)<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3099.....

Capital flight from emerging markets doubles to $6bn
The exodus from emerging markets has accelerated this week, with bond and equity funds suffering net outflows of almost $6bn.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3098ccad/sc/2/mf.gif' border='0'/>&l.....

Vodafone shareholders expect 40bn payout from Verizon sale
Vodafone shareholders are anticipating a 40bn payout when it sells its US interests, but have warned of a revolt if the windfall is slimmed down.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/309858a5/sc/2/mf.gi.....

Frankie & Benny's-owner boosted by higher consumer confidence
Five long years after the financial crisis, leisure companies are finally daring to hope of a revival in consumer spending, according to Frankie & Benny's owner-The Restaurant Group.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

'Hold 50pc shares and 50pc bonds for five years and you'll never lose money'
A balanced portfolio consisting of half shares and half bonds has protected investors from all but the smallest losses over the past 63 years, research shows.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3096e1.....

Mortgage approvals jump to highest level in over five years
Lending to home-buyers is at its highest in more than five years and lending to businesses has risen for the first time since January, according to data from the Bank of England.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

China's Xiaomi poaches Google executive Hugo Barra
Hugo Barra, the Google Android executive who went out with Amanda Rosenberg before she became Sergei Brin's girlfriend, is to join joined fast-growing Chinese smartphone maker Xiaomi Tech.<img width='1' height='1' src='http://telegraph.feedsportal.....

Finance chief Pierre Wauthier's suicide note implicates ex-chairman Josef Ackermann, says Zurich Insurance
The former chief financial officer of Zurich Insurance left a suicide note implicating the group's then chairman Josef Ackermann in his death, the insurer said this morning.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Mark Carney: 'I'll stop house price bubble'
New Bank of England governor says he is "personally" alert to damage that can be caused by housing bubble and is prepared to head off any risks caused by low interest rates and Government's Help to Buy scheme.<img width='1' height='1' src='http://.....

Bwin.party shares slide as revamp hits revenues
Shares in bwin.party digital entertainment slumped on Friday after the world's biggest listed online gaming company warned revenue could fall by as much as 17pc this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....