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Wednesday 28 December 2011

UK Financial News on 2011-12-28

Retailers 'face spending squeeze'
The UK retail sector faces another tough year in 2012, researchers say, with spending expected to rise at one of the slowest rates in decades......

Big drop in Italy borrowing costs
The cost of borrowing for the Italian government falls by half at its latest debt auction, in a sign of easing eurozone tensions......

Bombardier handed 188m contract
Derby trainmaker Bombardier is awarded a 188m contract to build 130 carriages for rail company Southern......

Unemployment 'to worsen in 2012'
UK unemployment will keep rising in 2012 and peak in 2013, according to the Chartered Institute of Personnel and Development......

Betfair voids bets on horse race
Betfair voids all bets made during a race at Leopardstown after an "obvious technical failure" left it liable for a multi-million pound payout......

D2 Jeans goes into administration
Store chain D2 Jeans has gone into administration, making 200 staff redundant and putting hundreds more jobs at risk......

Big Society projects get 3.1m
Big Society projects are to receive 3.1m in funding from dormant bank accounts, the government announces......

Iran in threat to block oil route
Iran threatens to close a vital oil-trade route if the West imposes more sanctions over its controversial nuclear programme......

Gas pipeline gets Turkey go ahead
Turkey gives permission for the South Stream gas pipeline to be built across its territories, according to Russian gas giant Gazprom......

Cyprus confirms gas reserve find
Cyprus announces a major gas find which could help boost the country's struggling economy, but Turkey has opposed drilling......

Call for new flood insurance deal
Victims of floods in 2007 may find it impossible to get insurance cover unless the government and insurers reach a new agreement, campaigners warn......

Tepco dips on state control fears
Shares of Tokyo Electric Power Company fall on the Tokyo Stock Exchange on fears the utility provider may be nationalised......

Japan's industrial output dips 4%
Japan's industrial production falls in November, pulled down by a strong yen, weak global demand, and flooding in Thailand......

LCD firms in price fix settlement
Six LCD screen makers, including Samsung, agree to pay $533m (357m) to settle claims they conspired to fix prices......

Sears and Kmart to axe 120 stores
Shares in US retail giant Sears fall 23% as it announces plans to close up to 120 Sears and Kmart stores amid poor sales......

China dairy destroys tainted milk
China Mengniu Dairy Company says it has destroyed a batch of its milk after it found traces of cancer-causing substance in it......

Odd tech job questions revealed
"Would Mahatma Gandhi have made a good software engineer?" and other questions posed at tech job interviews in 2011......

Man sued over Twitter followers
A man is being sued by his former employer after he left the company and took a 17,000-strong Twitter following with him......

Further fall for US house prices
US house prices fell further in October despite record low mortgage interest rates, according to new figures......

US consumer sentiment rises again
Consumer confidence in the US increased for the second month in a row in December to an eight-month high, new data suggests......

Banks pile up record cash at ECB
The ECB reports receiving record cash deposits as Europe's banks remain nervous about lending to each other......

Android and iOS activations soar
Estimates and official figures suggest a surge in activations of Google Android and Apple iOS devices on Christmas Day - more than double when compared to 2010......

Strike at LG Display's China unit
Chinese workers at a LG group factory in the eastern part of the country have gone on strike on a dispute over year end bonuses......

Oil refiner's $1bn credit freeze
Petroplus Holdings, Europe's largest independent oil refiner, sees its shares fall 40% after lenders freeze credit facilities worth $1bn......

AUDIO: Pawnbrokers see rise in business
Pawnbrokers Albermale and Bond say their industry's boom is due to banks tightening their lending criteria......

AUDIO: Serota: UK 'a much more visual culture'
Sir Nicholas Serota, director of the Tate galleries and Gregor Muir, executive director of the ICA discuss the role of arts in the recovery of the economy......

VIDEO: 'It's difficult to get an interview'
This year unemployment rose to its highest level in 16 years but things are set to get worse in 2012......

VIDEO: Calls for new flood insurance deal
Tens of thousands of people who were flooded in 2007 may find it impossible to get cover for their homes and businesses unless the government and insurers reach a new agreement......

VIDEO: Calendar sales reach new heights
The popularity of calendars has proved to endure with sales continuing to rise each year, despite the increasing use of technology in our everyday lives......

VIDEO: Gadgets that made waves in 2011
Rory Cellan-Jones reviews 2011's hottest technology gadgets with bloggers Stuart Miles and Kat Hannaford......

House prices: Will they fall or rise in 2012?
Will they fall or rise in 2012?.....

Solar power push faces challenges in Texas
Oil state Texas' green vision is under threat.....

Technology and business in 2012
Find out what the experts think 2012 will bring.....

How to protect your investments against volatility
How to protect your investments against volatility.....

Worst customer satisfaction websites
Dec. 28 - Summary of business headlines: Netflix and Gap lose in customer satisfaction survey; Morgan Stanley job cuts; More retail cheer. Bobbi Rebell reports......

Morning Briefing: North Korea mourns Kim, Mubarak trial resumes
Dec. 28 - North Korea stages a huge funeral in Pyongyang for former leader Kim Jong-il, and Egyptian President Hosni Mubarak's trial resumes after a delay of almost two months......

Trading at Noon: Wall St. falls on 2012 outlook concerns
Dec. 28 - U.S. stocks are down with investors expressing concern about the outlook for early 2012, and the S&P 500 erasing its gains for the year......

Poor Italian bond auction may not shake sentiment: Ladwa
Dec. 28 - Even a disappointing 8.5 billion Italian bond auction tomorrow may not hit market sentiment, according to Manoj Ladwa, Senior sales trader at ETX Capital......

Brazil not UK is 6th largest economy
Dec. 28 - A new survey from a London research group suggests Brazil has overtaken the UK as the world's sixth largest economy. Sonia Legg reports.....

Queues for Spanish citizenship
Dec. 28 - Cubans and Argentines queue for Spanish citizenship as the "grandchild law" which gives grandchildren of Spaniards who fled the Civil War citizenship ends. Lily Grimes reports......

Italian debt costs halve
Dec. 28 - Italian short-term debt costs halved at an auction on Wednesday as a new austerity package and cheap- long-term liquidity from the ECB won Rome some respite in thin year-end markets. Sonia Legg reports......

Tech trends for 2012
TV about trends in tech. Matt Cowan reports......

Markets review: worse to come in 2012
Dec. 28 - After a year of extreme swings, global financial markets look set for another challenging year says senior financial analyst Louise Cooper from BGC Partners. Hayley Platt reports......

Currency sniffer dogs help tax man
Dec. 28 - Argentina tries to stop the exodus of dollars and euros being smuggled over border points as Argentinians head off on new year holidays. Joanne Nicholson reports......

The cost of supplying NATO
Dec.28 - Pakistan's defense minister says if NATO's supply routes through the country are re-opened, they will come at a cost. Deborah Lutterbeck reports.....

Kim Jong Un to uphold military first policy
Dec. 28 - North Korea's next leader - Kim Jong Un - leads a funeral procession for his father, suggesting the new regime will uphold the country's trademark 'military-first' policy......

Southeast Asia: the place to be in 2012?
Dec. 28 - With growth at a standstill elsewhere, investors may do well to put their money in ASEAN countries like Indonesia and the Philippines. Jon Gordon reports......

U.S. Morning Call: NYSE/D.Boerse merger deadline extended
Dec. 28 - Deutsche Boerse and NYSE Euronext have extended the deadline for completion of their planned merger to March 31, 2012 as they seek to convince European regulators to back the $9 billion deal......

U.S. report criticises Yen intervention
Breakingviews......

Japan's factory output falls, rebound seen
Dec. 28 - Japan's November factory output falls, wiping out nearly all of October's gains; but short-term outlook optimistic. Arnold Gay reports......

Obama seeks win with bipartisan Fed choices
Fed correspondent Pedro da Costa says President Obama wants to avoid earlier failures in Congress with Fed appointees by offering a Republican and a Democrat candidate to the bank's board......

U.S. Day Ahead: Hopes for holiday shopping bonanza
Dec. 27 - Markets are likely to take a cue from a batch of retail data which should show how shoppers behaved in the run up to Christmas......

U.S. retailers offer huge discounts
Dec. 27 - U.S shoppers head out to stores looking for bargains after the Christmas holiday. Sasha Salama reports......

Trading at Noon: U.S. stocks see choppy trade on light volume
Dec. 27 - U.S. stocks seesawed on the release of economic data, as investors mostly stayed on the sidelines in a session expected to produce light volume......

Wine Rules: Tiny bubbles in the New Year
Dec. 27 - In this New Year's episode of Wine Rules, Food and Wine's Executive Wine Editor, Ray Isle, counts down with three stand-out sparkling wines......

The cost of supplying NATO
Dec. 27 - Pakistan's defense minister says if NATO's supply routes through the country are re-opened, they will come at a cost. Deborah Lutterbeck reports.....

Consumer confidence on the rise
Dec. 27 - Summary of business headlines: Consumer confidence rebounds; Online post-holiday sales jump; Sears holdings to close up to 120 stores; Housing prices fall-S&P Case/Shiller. Bobbi Rebell reports......

U.S. house prices not at "catastrophic" levels says Shiller
Dec. 27 - Yale University economist Robert Shiller says don't be depressed by the sharp fall in house prices in October's S&P/Case Shiller Index. He adds though expect a 1 percent decline in prices in 2012......

Looming Italian auctions keep markets on edge
Dec. 27 - Volumes are thin with London closed for a market holiday, while the prospect of Italian debt auctions on Wednesday and Thursday fuels euro zone worries......

2012 Offers Few Reasons for Optimism
As the year draws to a close, understandable confusion reigns in the minds of many investors. While short-term indicators, such as consumer confidence, appear to beckon recovery, the longer-term strategic issues remain shrouded in the smoke and mirro.....

Alibaba hires U.S. lobbying firm as it eyes Yahoo
China&s Alibaba Group has hired Washington lobbying firm Duberstein Group Inc as it eyes a possible deal with Internet giant Yahoo Inc......

Autochartist - Daily Commodities Update: Cocoa
Cocoa has just registered its first significant long term directional trade signal in a long while, triggering a technical breakout to the downside in Wednesdays& session. Autochartist identified the signal on the 240-minute time interval after the n.....

New York Times Accidentally E-mails Millions
The New York Times accidentally emailed millions of subscribers, erroneously notifying them of a canceled subscription......

US STOCKS-Wall St ends 5-day rally on renewed euro-zone concerns
U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone&s financial health......

Staten Island Couple Charged after Leaving Child in Car
A Staten Island couple was arrested after leaving their toddler in a car on Christmas Eve......

Patrick Chan named Canadian male athlete of year
World figure skating champion Patrick Chan was named winner of the Lionel Conacher Award as Canadian male athlete of the year on Wednesday......

Gold Technical Precious Metals (2011-12-28)
Technical analysis for precious metals with major support, resistance levels and recommendations for 28-12-2011.....

Euro vs. Japanese Yen (2011-12-28)
Technical Cross Report - Euro vs. Japanese Yen (2011-12-28).....

No trial delay for accused Ponzi schemer Stanford
Allen Stanford, accused of running a $7.2 billion Ponzi scheme, on Wednesday lost his bid for a three-month delay in his criminal fraud trial, clearing the way for jury selection to begin on January 23......

Celebrities Showing Off Their Baby Bumps
Baby Bumps aren&t new in Hollywood but this year there seemed to be more Hollywood A-list&s getting the bump and oh how they love flaunting them to their fans......

U.S. Mint says has enough gold, silver Eagles coins
The United States Mint said on Wednesday it has enough American Eagle gold and silver bullion coins to meet demand and does not expect to allocate them in early 2012......

Celebs Who Will Party Out The New Year's Eve in Vegas [PHOTOS]
If you are still making some plans for the New Years Eve and cash is no big trouble for you, then you may want to check out the hotspots where you can possibly find several celebrities partying out for the coming New Year......

Grand Theft Auto: What You Feel When Your 'Whip' Gets 'Jacked'
Car thefts occur about every 33 seconds in the United States. A victim and expert discusses the emotional effects of losing a personal vehicle......

Singer Dido Names Her Son After Eminem
Stan is the song that tells the story of an unreal guy who is the fan of Eminem and commits suicide after killing his pregnant girl. Apart from this, it is also the song that gave a huge break to artist Dido......

Microsoft-Powered PCs Getting Thunderbolt Ports in 2012
When Apple first partnered with Intel to include Thunderbolt ports on the MacBook Pro, they may or may not have known how much interest the technology would generate in the computer world. In 2012, Thunderbolt looks to make a bigger splash by making .....

Holiday Cheer: Pink Saves Puppy!
Tough girl Pink embraces her softer side this Christmas season, extending some love to someone who needs it badly - an injured pup named Stella......

Euro at 11-month low
The euro hit a fresh 11-month low against the dollar on Wednesday, one day before an important auction of long-dated Italian debt, while U.S. stocks fell about 1 percent on concerns about the economy in early 2012......

2011 in Review: A Splendid Year for Corporate Profits
2011 was a great year to be an American corporation, as corporate profits rose and taxes fell......

Market Update: U.S. Equity Markets are Red in Initial Trading
Dow: 12,231 [-60pts, -0.49%]Nasdaq: 2,607 [-18pts, -0.68%]S&P 500: 1,259 [-7pts, -0.52%] This article was originally published on Benzinga, and is republished here with permission......

Obama in 2011: Top Five Achievements
In a year filled with partisan strife, economic calamities and foreign policy conundrums, picking President Barack Obama&s biggest achievements feels darned near impossible. But whittle away lowlights and a rather substantive list remains......

Bill Maher: The Ugly Face of Left-Wing Mass Media
What people need to remember is that Maher is a comedian who is seeking publicity for his show.....

Helen Frankenthaler Dead at 83: 'Mountains and Sea' Painter Succumbs After 'Long Illness'
Abstract expressionist painter Helen Frankenthaler died in her home on Wednesday after a 'long illness.' The famous painter behind &Mountains and Sea& was 83......

Euro Weakens Broadly; S&P 500 Erases 2011 Gains
The euro weakened about 1 percent against the dollar and the yen on Wednesday, one day before an important auction of long-dated Italian debt, while U.S. stocks slid more than 1 percent on concerns about the economy in early 2012......

Analysis: U.S. online poker ruling at risk in future
While the Internet poker world salivates at the prospect of its business coming back to life thanks to an Obama administration ruling, a future president could reverse that decision and send the industry back to drawing board if it is not codified in.....

U.S. online poker ruling at risk in future
While the Internet poker world salivates at the prospect of its business coming back to life thanks to an Obama administration ruling, a future president could reverse that decision and send the industry back to drawing board if it is not codified in.....

Netflix Tanks Customer Satisfaction Survey: 5 Things Investors Need to Know
For the first time, Netflix has fallen below Amazon in customer satisfaction, landing with some of the worst companies in a new ForeSee poll with a rating of 79 out of 100. For investors anxious about Netflix stock, however, this survey has a silver .....

iPad 3 Could Face Google Nexus Rival Tablet; Rumored Upgrades
As Apple gears up to release its most anticipated tablet yet, Android competitors are getting ready to rival the iPad 3, with Google plotting the latest aspiring iPad-killer......

Samoa to Skip Friday, Dec. 30 & Leap over International Date Line
At midnight on Thursday, Dec. 29, Samoas calendar will leap ahead to Saturday Dec. 31 as it redraws the international dateline to move to the western side after over a century on the east......

Wall Street Ends 5-Day Rally on Renewed Concerns About Europe
U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone&s financial health......

Better odds for US online betting lift gaming stocks
Dealmakers in the Lloyd's of London insurance sector have been kept busy this year and there was scant sign of the pace of consolidation slowing as Beazley revealed it was eyeing a fresh tilt at Hardy Underwriting.<img width='1' height='1' src='ht.....

Relief for BP as US judge rules it was not at fault for Alaskan spill
BP has scored a legal victory in the US after a judge dismissed government claims that the company was at fault for a second oil spill in Alaska.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f8d5/mf.gif' bo.....

Bombardier secures train deal and 80m subsidy
The Government has provided 80m of funding towards a new 189m train order for Bombardier, whose Derby factory was put at risk by the loss of a 1.4bn rail contract to German rival Siemens.<img width='1' height='1' src='http://telegraph.feedsportal......

Downton not out: ITV's Christmas cheer
ITV's shares rallied today as the broadcaster closed the gap in Christmas Day audience share with the BBC.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f8d7/mf.gif' border='0'/><br/><br/><.....

Sporting challenge for holiday industry
Britain's travel industry faces a tough 2012 after a year that saw 24 registered tour operators fail and one of the big two operators, Thomas Cook, require an emergency bail-out from its banks.<img width='1' height='1' src='http://telegraph.feedsp.....

Whistleblower dossier handed over in bank 'fraud' action
A mass of documents assembled by a whistleblower at Bank of New York Mellon (BNYM) have offered a glimpse into how the bank responded to allegations from US authorities that it defrauded customers of hundreds of millions of dollars.<img width='1' .....

Bond sale puts Italy to the test
Italy faces a crucial test tomorrow as the technocrat government of Mario Monti launches its first big auction of long-term bonds since a disastrous upset a month ago.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Martin Feldstein: French 'don't get' problems at euro's heart
The French government should concentrate on its own financial problems rather than lashing out at Britain, according to leading US economist Martin Feldstein.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f8.....

Russians quiz Sergei Magnitsky's mother
Russian authorities risk further controversy after calling the mother of dead whistleblower Sergei Magnitsky for questioning into his alleged criminality.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f8dd/m.....

Oil price falls despite threat to close Strait of Hormuz
Oil prices fell today as investors ignored Iran's threat to halt oil shipments through the Strait of Hormuz.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f8df/mf.gif' border='0'/><br/><br/>&l.....

Wendy's rich taste to lure Japanese palates
American visitors to Tokyo will be in for a surprise.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f348/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/121585995787/u/3/.....

Businesses in North more likely to fail
A "North-South" divide in the company failure rate widened in 2011 as 21,000 companies went bust across the UK, according to research by an accountancy firm.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57f34.....

Fridges are given cold shoulder as shoppers retreat
Another gloomy year is in prospect on the high street as shoppers cut spending by 1bn in 2012, with big ticket items such as electrical goods hit hardest.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b57ef9d/m.....

Debt warning as shoppers cash-in on post-Christmas sales
Shoppers risk being plunged into rising levels of personal debt after getting carried away by the euphoria of Britain's post-Christmas sales rush.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b575a24/mf.gif' b.....

FTSE 100 falls as eurozone fears knock Wall Street
London's leading shares closed down on Wednesday after continued worries over the eurozone debt crisis hit Wall Street, overshadowing a strong auction of short-term Italian government debt.<img width='1' height='1' src='http://telegraph.feedsporta.....

FTSE 100 gains pegged by fall on Wall Street
London's leading shares lost its early gains after Wall Street fell on continue worries over the eurozone debt crisis, despite strong auction of Italian of short-term government debt.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

Ultimo bra creator Michelle Mone and husband separate
Michelle Mone, the Ultimo bra entrepreneur, and her husband are to separate. A statement released through law firm Harper Macleod said the split is "amicable" and that no other parties are involved.<img width='1' height='1' src='http://telegraph.f.....

Bombardier wins 188m UK order from Southern Rail
The train builder has won a government-subsidised contract for 130 rail carriages from Southern Rail, months after it announced it would cut about 1,400 jobs in Britain and questioned its future in the country.<img width='1' height='1' src='http:/.....

Bombardier wins 188m UK order from Southern trains
Bombardier, the Aircraft and train builder, has won a government-subsidised contract for 130 rail carriages from Southern Rail, months after it announced it would cut about 1,400 jobs in Britain and questioned its future in the country.<img width=.....

Tokyo Electric Power Co shares plunge on fears Fukushima nuclear plant owner may be nationalised
Shares in Tokyo Electric Power Co (Tepco), the owner of the crippled Fukushima nuclear power station in Japan, plunged 12pc in Asian trade on nationalisation fears.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Morgan Stanley to make 580 staff redundant
Morgan Stanley, the US investment bank, will make 580 employees redundant, according to an official US document, after earlier announcing plans to eliminate 1,600 jobs by the first quarter of 2012.<img width='1' height='1' src='http://telegraph.fe.....

ITV shares up despite losing ratings war
ITV shares rose strongly in early trading after the broadcaster closed the gap in Christmas Day audience share with the BBC.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b54cc42/mf.gif' border='0'/><br/&.....

Italian borrowing costs halve in successful bond auction
Italy passed the first part of its final bond test of the year with flying colours on Wednesday, as short term borrowing costs halved in a 9bn (7.5bn) auction that saw appetite for Italian debt rise.<img width='1' height='1' src='http://telegraph......

Italy passes bond test with flying colours
Italy passed the first part of its final bond test of the year with flying colours on Wednesday, as short term borrowing costs halved in a 9bn (7.5bn) auction that saw appetite for Italian debt rise.<img width='1' height='1' src='http://telegraph......

FTSE 100 rises on hopes of bumper High Street sales
London's leading shares perked up after an uneasy start in the first trading session after the Christmas break, with retailers rising on expectation of bumper High Street sales.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....