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Friday 30 December 2011

UK Financial News on 2011-12-30

House price stagnation 'to go on'
UK house prices remained relatively unchanged in 2011 and more of the same is expected in 2012, the Nationwide says......

Global markets finish a wild 2011
World stock markets finish one of the most dramatic years for the global economy, with most well down for the year......

Troubled Barratts cuts 1,610 jobs
The administrator of shoe retailer Barratts Priceless says it has made 1,610 staff redundant after failing to find a buyer......

Recession 'to return' to Europe
Most economists polled by the BBC say recession will return to Europe next year, while UK interest rates will stay at 0.5%......

Hawkin's Bazaar in administration
The owner of troubled toy and novelty gift chain Hawkin's Bazaar, the Tobar Group, enters administration......

Spain sets out new spending cuts
Spain's new conservative government announces 8.9bn euros in austerity measures in order to lower the country's borrowing......

Putin pushes forward gas pipeline
Russia brings forward the start date for building a pipeline to transport gas to Europe under the Black Sea, bypassing Ukraine......

Euro remains near lows for 2011
The euro is near its low for the year following a tumultuous 12 months in which its existence has been questioned......

UK encourages offshore drilling
The UK government awards new exploratory drilling licenses to firms looking for oil and gas - including in the English Channel......

Hungary threat to central bank
Hungary passes a controversial new law that critics say could undermine the independence of its central bank......

Royal Mail's web glitch persists
A Royal Mail website that allows people to calculate their postal costs has now been down for more than a month......

Rise in social care fees 'a tax'
Figures show a sharp rise in the cost of council services for elderly and disabled people, making charges a stealth tax on the vulnerable, Labour warns......

Japan delays sales tax increase
A key panel of Japan's ruling party agrees to postpone a planned sales tax increase amid rising opposition to the move......

D Telekom settles bribery charges
Deutsche Telekom and its Magyar Telekom arm agree to pay $95m to settle charges they paid bribes in Macedonia and Montenegro......

Japan stocks end year at 1982 low
Japan's main share index, hit by the devastating earthquake and tsunami in March, closes at its lowest year-end level since 1982......

Italy borrowing costs remain high
Italy has to pay the relatively high interest rate of just under 7% to borrow money, reflecting continued concerns about its economy......

Google tops visited US sites list
Google and Facebook are 2011's most popular sites with US users according to Nielsen. Yahoo came in third, but its position may be precarious......

Debt experts issue help warning
Debt experts warn young people not to delay seeking help if Christmas has tipped them into unmanageable debt......

Rental deals 'morally bankrupt'
Low income families are being exploited by so-called rent-to-own deals on household appliances, a children's charity warns......

Monti: 'Unite to save eurozone'
Italian Prime Minister Mario Monti calls for a 'united response' to the eurozone debt crisis as he outlines plan to get Italy out of recession......

S Korea inflation exceeds targets
South Korea's inflation rate stays above the central bank's target range in December, despite attempts to slow price growth......

Hungary abandons new debt auction
The Hungarian government has abandoned part of a planned bond auction and seen interest on the debt it did issue rise......

China 'to withdraw' car support
China says it will withdraw support for foreign investment in the country's car industry to help domestic carmakers, according to state media......

Iberia pilots strike hits flights
Spain's Iberia cancels more than a third of its flights as pilots hold a one-day strike over plans for a new low-cost airline......

AUDIO: 'Mild recession in 2012 in Europe'
Recession will return to Europe in 2012, if the majority of economists surveyed by the BBC are to be believed......

VIDEO: Can the US economy recover in 2012?
Will there be any economic improvement in the US in 2012, and what will it mean for President Obama's bid for re-election in November?.....

VIDEO: Aberdeen bucks economic trend
While most economists are predicting weak growth at best for the UK economy next year, Aberdeen in Scotland remains relatively unaffected by economic woes......

VIDEO: Warning issued over festive debt
Debt experts are warning people not to delay seeking help if Christmas has tipped them into uncontrollable debt......

VIDEO: Vulnerable 'exploited' by rent-to-buy
The children's charity, Barnardo's, has described companies which rent furniture and kitchen appliances to families who can't afford to buy them as "morally bankrupt"......

AUDIO: 'I couldn't stand being the richest man in the graveyard'
Entrepreneur Sir Tom Hunter and Nick Jenkins of charity ARK discuss how to develop a culture of giving in Britain......

AUDIO: Does technology stop us talking?
The BBC's Rory Cellan-Jones looks at whether technology and social media is a help or hindrance to communication......

VIDEO: Swiss unions voice job loss fears
Trade unions in Switzerland have warned that thousands of jobs could be lost because of the eurozone crisis and the high value of the Swiss franc......

Estonia: The muted revival of a Baltic tiger
What can we learn from fast-growing Estonia?.....

What will markets do in 2012?
Will 2012 be a catastrophe or an opportunity for investors?.....

Three big questions for the eurozone
Newsnight's Paul Mason on a tough year ahead.....

New tech horizons coming in 2012
What new technologies will set the world alight next year?.....

Swiss feel Europe's pain
Outsider Switzerland can't escape Europe's economic pain.....

The year in business: 2011
When Western economic foundations were shaken.....

Irish face new wave of emigration
New wave of young people leaving Ireland in search of jobs.....

Britain's boutique gin distilleries
London's new boutique distilleries give gin a modern remix.....

Why Iowa gets first dibs
Just days before the caucus, correspondent Jeff Mason talks with residents about why Iowa goes first in presidential politics, whether it's fair, and how well they represent America......

Verizon raises ire with fee
Dec 30 - Summary of business headlines: Verizon adds new payment fee; Sears identifies stores closing; China's manufacturing shrinks; Alleged HP executive scandal revived. Jeanne Yurman reports......

Spain unveils tax hikes to tackle deficit
Dec. 30 - Spain's new government has said the public deficit for 2011 will be 8% of GDP, well above its target of 6%, and has announced increases in income and property tax along with a wage freeze for civil servants to tackle it. Joanna Partridge re.....

2012 to be year of "global reset"
Dec. 30 - After a year marked by upheaval on the streets and uncertainty in the markets, Oxford Analytica CEO Nader Mousavizadeh predicts 2012 will see a 'global reset' while Monocle Editor-In-Chief Tyler Br says business must go on a charm offensive.....

U.S. recession still possible in 2012, says Shiller
Dec. 30 - Yale Economist Robert Shiller warns a double-dip recession could still happen in the U.S. for 2012 and warns the Fed has no more ammo to prevent any downturn from happening......

U.S. Morning Call: Futures mixed; a smitten Hurd revealed
Dec. 30 - U.S. stock index futures are pointing to a mixed open on Wall Street for the last session of 2011. A lawyer's letter claims former Hewlett Packard CEO Mark Hurd made aggressive romantic advances......

Morning Briefing: Ex-HP CEO Hurd agressive romancer-letter
Dec. 30 - Former HP CEO Mark Hurd made aggressive romantic advances toward an independent contractor, who later accused him of sexual harassment, according to claims in a letter from her lawyer......

Blessing or burden? A decade of the euro
Dec. 30 - Ten years after Germany started using the euro, the single currency is facing a make or break year and economists say the euro hasn't worked out as planned. Joanna Partridge reports.....

U.S. Morning Call: Futures mixed on final 2011 trading day
Dec. 30 - U.S. stock index futures are pointing to a mixed open on Wall Street for the last session of 2011......

Bank turmoil looks set to continue
Dec. 30 - A look back at a tumultuous year for the financial sector and ahead towards some of the challenges that await in 2012. Penny Tweedie reports.....

Samoa cancels Dec. 30 in time leap
Dec. 30 - Samoa skips 24 hours ahead as it ditches a time-zone alliance with the United States. Paul Chapman reports......

China's factories falter, pro-growth policies eyed
Dec. 30 - HSBC's China's PMI index rises from a record low, but still indicates shrinking factory activity......

Tokyo stocks nearly 20 percent down in 2011
Dec. 30 - Tokyo benchmarks shed around 18 percent in 2011, after a tumultuous year marked by the March earthquake, Thai floods and the euro zone crisis. Arnold Gay reports......

Long live gloom - it's a great time to buy shares!
Breakingviews say shares are their cheapest in a generation, but stock up also on gold and tinned food......

No Hollywood ending for 2011
Dec. 29 - Despite higher ticket prices and a few summer hits it was a down year for the movie industry. Analysts, however, expect a pick up in 2012. Jeanne Yurman reports......

Asia: the week ahead
Dec. 30 - Europe looms large as Asia prepares to ring in 2012, with investors watching PMI data from China and India, as well as trade figures from Australia and Seoul. Tessa Dunlop reports......

More easing seen as China's factory sector shrinks again
Dec. 30 - China's vast factory sector likely shrank again December, setting the stage for another possible round of policy easing. Arnold Gay reports......

U.S. Stocks jump one percent
Dec. 29 - Summary of business headlines: U.S. stocks gain on encouraging economic news; Pending home sales surge; Midwest factory activity improves; Italian 10-year bonds hover near 7 percent. Bobbi Rebell reports......

U.S. Day Ahead: 2011 could end with fireworks
Dec. 29 - Friday is set to be dominated by two economic indicators, potential salacious scandal and a showdown between a bond guru and his former bosses......

Breakingviews: Confidence key for tech trends in 2012
Dec. 29 - The importance of confidence in cloud computing and cybersecurity are two of the hottest trends in tech......

DOJ online gambling ruling is confusing, says industry
Dec. 29 - American Gaming Association CEO Frank Fahrenkopf says the gambling sector needs uniform regulation to protect consumers and prevent illegal sites from operating in the U.S......

Stocks rise in light trading
Dec. 29 - Summary of business headlines: Stocks rise in early trade; Italian bond yields remain near 7 percent; 15-month low for euro vs. dollar; Jobless claims rise; Encouraging data on housing market. Bobbi Rebell reports......

ECB jumps back after lukewarm Italian sale
Dec. 29 - The euro sinks to a fifteen-month low and the ECB is forced to step back into the market after a poorly received Italian debt auction......

Iberia pilots' strike grounds flights
Dec. 29 - Pilots at Iberian airlines have gone on strike in Spain, affecting flights and travellers for the second time this month. Ciara Sutton reports......

Italian yields remain high after tough sale
Dec. 29 - Italy's borrowing costs fell from their recent record highs in an auction of ten-year debt, but remain at levels seen as unsustainable in the long term, underlining the challenges facing Prime Minister Mario Monti who has promised to tackle.....

Verizon Cracks Under Pressure: Cancels $2 Convenience Fee
Lest you fear Verizon has gone mad with power by trying to charge people $2 for paying their bills online, take heart because the Interwebz have spoken. Less than 24 hours after news got around that Verizon was going to institute the convenience fee .....

Ben Breedlove: YouTube Star Gets Massive Love After his Death
Ben Breedlove, the YouTube star who died at the young age of 18, has received massive love - both online and offline - after his death. Breedlove died from a heart attack induced by his heart disease hypertrophic cardiomyopathy......

Man deported from Canada admits crimes: China
China&s most wanted man, who was deported from Canada in July after a decades-long legal battle, has admitted to his crimes and will now be handed over to prosecutors, state media reported on Friday......

GM recalls 4,873 Sonic cars in U.S. and Canada
General Motors Co is recalling 4,873 of its current year Chevrolet Sonic subcompact cars in the United States and Canada for possible missing front brake pads, the company and federal safety regulators said on Friday......

Verizon Drops $2 Fee Plan after Customer Backlash
Only a day after originally announcing a $2 fee for one-time telephone and online bill payments, Verizon Wireless scrapped the plan after a flurry of consumer backlash......

Say Goodbye to U.S. Ethanol Tax Breaks and Tariffs
On Saturday, the United State&s tax credit and tariff on ethanol is set to expire, and that makes Brazilian ethanol producers and sugarcane growers very happy......

Top Reasons Why The 'Unbeliebers' Just Do Not Like Justin Bieber
Did you ever wonder why Justin Bieber is still hated by some people even when he remains to be one of the most popular names in world of entertainment today, whether music or Hollywood? Here are some reasons that could possibly playing in the minds o.....

Distribution Warehouses Under Pressure for Temporary Staffing
The warehousing sector of the supply chain industry is under pressure recently after a series of investigative reporting has uncovered the tenuous situation of thousands of temporary employees......

Coconut Water: The Lastest Thing from the Beverage Industry
Coconut water is the latest trend from the beverage industry, hitting store shelves all over the world and roping in consumers through fruity flavors and touted health benefits. When did this all start?......

Bank of Melbourne Moves Fixed Rate Peg
Bank of Melbourne has reduced fixed rates, only a week after offering to price match any other major......

Women, Gen Y Tighten the Purse Strings
Spending less is more this Christmas festive season - especially if you are a woman, or Gen Y......

Appeals Court Upholds Telecom Immunity Over Domestic Spy Program
The Ninth Circuit Court of Appeals upheld a law giving telecommunication giants immunity over the Bush Administration&s domestic surveillance program, but authorized lawsuits against the federal government......

New Year's Resolutions from 'The Godfather'
What did you learn from the timeless classic &The Godfather& and how can you use those lessons for the New Year?.....

REIA not Alone in Running Out of Ideas
Domain.com.au&s recent blog entry highlighted a trend amongst an industry and governments that have run out of ideas on how to make housing more affordable......

2011 Hollywood Celebrities with the Most Influential Hairstyle
2011 is coming to an end and what better way to end it than by announcing the years trendsetters when it comes to hairstyles......

Top Celebrities Who Had Their Biggest Breaks Without Even Winning The Mega Millions [PHOTOS]
Here we feature the top celebrities whom we know has been able to turn their unfortunate life stories around to become the most successful ones in the world......

Spanish Banks Stuck with 30bn in Unsellable Property
According to a recent report from a risk adviser to Banco Santander SA (SAN) and five other lenders, Spanish banks are currently holding 30 billion Euros worth of property that they cant sell......

China Slows Significantly, House Prices Vulnerable
How much further will the slide in Chinese house prices go? National house prices had their third monthly decline in November, a fall of 0.3%, according to the China Real Estate Index System (CREIS)......

Is Lady GaGa Really House-Hunting with Her Rumored Boyfriend in Pennsylvania?
The latest celebrity real estate rumor to get tossed around involves none other than pop superstar Lady GaGa. The 25-year-old singer has been spotted around Lancaster County, Pennsylvania touring a few homes for sale......

Daily Gadget News First Phone with a Quad Core Processor, Rumors About the Apple iTV and Airplay Plays Nice with Google TV
Every single day, weve got dozens of news coming from the tech and mobile industries, and while most of them are pretty boring, there are some items that are both interesting and worthy of knowing. Heres the most noteworthy news for today:......

Katy Perry Out For A Sexy Swim This Christmas Break [PHOTO]
Amongst the stars who decided to make their holiday be spent in a tropical setting is the singer and wife of Russell Brand, Katy Perry. Other stars seen hitting the beach for the holidays include Kimora Lee Simmons, Stephanie Seymour and a lot more......

Is the Samsung Galaxy Note a Good Substitute for a 7-inch Tablet?
The most popular trend in the smartphone world was the ever increasing screen size - the average display size went from 2.8 inches to 4 inches in less than 5 years, and surprisingly, we&re still OK with the size of the handsets......

LG X-Note Z330 Ultrabooks Keep Getting Thinner, and More Expensive
LG is really getting into the whole Ultrabooks game, and they look like they&re going to be very successful, as well, judging by the quality of their products and the reviews online (even though a lot of people say that their Ultrabooks are a direct .....

Gadgetmania Recommends Best Laptop Workstations for Road Warriors
If your job includes you traveling with your computer everywhere, and doing some resource intensive work on it, as well, you&ve probably been in a tight spot when choosing the best laptop for the job many times before......

Using a Tablet to Replace your Cars Head Audio Unit Gadget Experience from GadgetMania
Whether youre using your car for everyday work or just for occasional trips, youve most probably already thought about improving something inside. The head audio unit is one of the things you can easily replace, but if you want something truly unique.....

Casey Anthony Trial and 10 Other Controversial Legal Cases of 2011 [PHOTOS]
This year there were several legal cases that tugged on the heart strings of America and those outside the nation. There was public outcry when Casey Anthony was acquitted of the murder of her 2-year-old daughter, Caylee. Don&t forget the Jerry Sandu.....

LG Spectrum the Second Revolution is Coming to Verizon
The LG Revolution was one of the first smartphones to carry an LTE radio on Verizon&s network, but otherwise it was a pretty standard midrange device that was released to keep people busy this past summer......

Brock Lesnar vs Alistair Overeem: Predictions and Poll
The highly anticipated Brock Lesnar vs Alistair Overeem fight is just hours away. Prelims on Facebook starts at 6:50 p.m. ET and the event starts at 10 p.m. ET. UFC has listed multiple ways to watch the paid event......

Broncos - Chiefs: Prediction, Betting Odds, and Preview for Sunday's Regular-Season Finale
The Broncos head to the playoffs with a win, or a loss by the Raiders......

Egypt Assures U.S. No More Raids on Democracy Groups
Egyptian officials have assured the United States they will halt raids on pro-democracy and human rights groups and return property seized in a crackdown that strained ties with Washington, U.S. officials said on Friday......

Panic stations: Retail and resources bear the brunt
It appears that Arkadiy Abramovich has inherited his famous father's financial nous.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b66c788/mf.gif' border='0'/><br/><br/><a href="http://da.feed.....

FTSE 100: Traders stockpile drugs, fags and booze
Investors turned to defensive stocks during a year in which political turmoil and the festering debt crisis dragged the FTSE 100 down 5.6pc.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b66c789/mf.gif' border=.....

'Euro will be stable' claim is ridiculed
Germany's finance minister has been accused of groundless optimism after he claimed that Europe's leaders will have "banished the dangers" of the euro crisis within 12 months.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Deloitte fails to find buyer for Barratts Priceless
On the last Friday of 2011 carnage continued on the high street, as administrators of Barratts Priceless failed to find a buyer for the shoe store.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b66e654/mf.gif' .....

Hewlett-Packard boss pursued contractor
Mark Hurd, the former chief executive of Hewlett-Packard, spent two years trying to convince an actress who was employed as a contractor at the personal computer maker to have sex with him, according to claims in a letter from her lawyer.<img widt.....

FTSE 250: Clouds gather over high street as retailers beat a hasty retreat
OCADO and SuperGroup's first full year of trading as public companies might well be one their investors would rather forget.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b66e658/mf.gif' border='0'/><br/&.....

FTSE loses 90bn over year but eurozone fares worse
The FTSE 100 has ended 2011 down after a turbulent year that has seen around 90bn wiped off the value of the index, but despite the fall shares in London have fared much better than those in Frankfurt and Paris.<img width='1' height='1' src='http:.....

FTSE 100 lifted by BG's Brazil oil breakthrough
Britain's top share index ended the day up after late rally on Friday but remains down on the year in which the threat of contagion from the eurozone debt crisis has unsettled investors.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

Spain unveils 8.9bn of cuts but warns deficit will rise
New government to cut public spending by 8.9bn in 2012 but warned the country's deficit would be higher than expected.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b65d121/mf.gif' border='0'/><br/><.....

Five funds for 2012
Here are five of the experts' favourite investment funds for the year ahead.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b65128c/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal......

FTSE ends year down 5.5pc but eurozone fares worse
London's index of leading shares edged higher in a shortened final day of trading in 2011 to end a turbulent year dominated by the eurozone debt crisis down 5.55pc - a far better performance than rival eurozone indices.<img width='1' height='1' sr.....

Should you buy shares in 2012 or give them the thumbs down?
Shares seem cheap, but another shock could finally cause buyers to sell.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b65128e/mf.gif' border='0'/>.....

Mortgage debt cut by 8.6bn but Bank of England sees little sign of rush by households to reduce debts
Britons injected 8.6bn of net equity into their homes in the third quarter reflecting ongoing weakness in the housing market, but the Bank of England sees "little sign" of households trying to clear their debts more quickly.<img width='1' height='.....

Homeowners inject 8.6bn of equity in third quarter
Britons injected 8.6bn of net equity into their homes in the third quarter reflecting continued weakness in the UK housing market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b64466d/mf.gif' border='0'/>&l.....

Hawkin's Bazaar appoints administrators
Over 400 jobs at risk as novelty gift retailer appoints administrators.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b631e9e/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

Italy seeks boost to bail-out fund
Mario Monti has pleaded for the eurozone to expand its "big bazooka" bail-out fund as an expensive Italian bond auction suggested that even last week's flood of cheap loans from the ECB has failed to stem the crisis.<img width='1' height='1' src='.....

FTSE 100 on course to end turblulent year down
London's index of leading shares fell in a shortened final day of trading in 2011, putting it on course to end a turbulent year down - so far it has fallen 5.9pc.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b.....

Spanish Prime Minister Mariano Rajoy to unveil multi-billion euro cuts
Spain's centre-right government will announce billions of euros in savings measures on Friday, using its first decrees since sweeping to power at November elections to give the nation a foretaste of tougher austerity to come.<img width='1' height=.....

German finance minister Wolfgang Schaeuble says eurozone problems will be solved in 2012
Germany's finance minister Wolfgang Schaeuble says he's confident that Europe's politicians will manage to stabilize the eurozone in 2012 and keep the continent's common currency together.<img width='1' height='1' src='http://telegraph.feedsportal.....

House prices fall as Nationwide warns of sluggish 2012
House prices dipped in December, Nationwide said, adding that the market looked likely to remain sluggish.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b61ce62/mf.gif' border='0'/><br/><br/><.....

Chinese manufacturing continues to shrink
China's manufacturing activity continued to shrink in December, as economic strife in the key European and US markets hobbled demand for the nation's goods.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6185d8.....

Government reveals 'alarming' pension shortfall
Fewer than four in 10 Britons are saving into a private pension, the lowest level for a decade.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b61818e/mf.gif' border='0'/><br/><br/><a href="htt.....

Business investment and exports, the only way forward says CBI
Next year, 2012, must be the year the UK finally stops agonising about rebalancing its economy and actually does so, said the head of the CBI in his new year message.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

AstraZeneca staff find new jobs ahead of plant closure
More than 1,000 workers at AstraZeneca's research base in Loughborough have found new work ahead of its closure.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b5faf40/mf.gif' border='0'/><br/><br/&g.....

Brisk start to post-Christmas sales, but too late for some
Hordes of bargain-hunters hit the Boxing Day sales, according to property firm Hammerson.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b5faf41/mf.gif' border='0'/><br/><br/><a href="http://da.....