Search This Blog

Saturday 31 December 2011

UK Financial News on 2011-12-31

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......

Knighthoods for business leaders
Glaxo Smith Kline boss Andrew Witty and ex Tesco chairman David Reid are knighted, as ex-convict Gerald Ronson gets a CBE.....

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......

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......

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......

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......

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?.....

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.....

Stock market forecasts for 2012
Dec 30 - Analysts look into their crystal balls for a 2012 forecast. Investors have more of the same to consider in 2012 including recession worries and the eurozone debt crisis. Jill Bennett reports......

Ford posts best sales in four years
Dec 30 - Summary of business headlines: Ford brand sales top two million; Verizon scraps plans for new fee; Commodities post strong finish for year; U.S. stocks post mild losses; European markets rise. Jeanne Yurman reports......

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......

Republicans Scour Iowa for Undecided Voters
Republican White House hopefuls scoured Iowa for undecided voters on Saturday and front-runner Mitt Romney argued that he is the best to take on President Barack Obama as time ran short before the first votes of the 2012 election season......

New Years Sales 2012: Best Deals at Walmart, Kohl's, Pottery Barn and More
Check out the biggest sales and best deals at stores like Target, Walmart, Best Buy and Amazon. Some discounts last all weekend, but others expire at 11:59pm on New Year&s Eve. Click here to get promo codes, find the biggest discounts, and nab sales .....

Top 5 Reasons to Choose WL Marketing for SEO Services
SEO or Search Engine Optimization is one of the most powerful tools of online marketing and if you have an online business presence and want to generate more revenue from online customers as well as build a community, WL Marketing is the go-to compan.....

Fedor Emelianenko vs Satoshi Ishii: Emperor Crushes Judo Champ [VIDEO]
The results of the Fedor Emelianenko vs Satoshi Ishii fight had many long-time mixed martial arts (MMA) fans breathe a collective sigh of relief......

Chinese Man Dies of Bird Flu Virus
The H5N1 strain of the flu is extremely dangerous, killing up to 60 percent of people who contract it......

Sarkozy vows reforms in austere New Year's speech
French President Nicolas Sarkozy pledged in a grave New Year&s message to find ways to pull the economy out of stagnation in the four months left before a presidential election and vowed no further public spending cuts......

Anne Hathaway's Catwoman in 'Dark Knight Rises:' What We Know So Far
After Anne Hathaway&s recent interview with The Times, Batman fans are scrambling to find out as much as they can about her character Selina Kyle (Catwoman) in the Christopher Nolan&s 'The Dark Knight Rises.' Here&s everything we know so far, from a .....

Nick Holt Fired by Huskies: Did he Deserve it? [POLL]
Nick Holt has been fired by the University of Washington Huskies. Aside from sacking the defensive coordinator, the Huskies also canned linebackers coach Mike Cox and secondary/safeties coach Jeff Mills......

Building New York: de Portzamparc's One57 Towers Over the City
Christian de Portzamparc&s One57 is set to become the tallest residential building in the city......

New Year's Eve 2012: Where to Watch Times Square Ball Drop
If you can&t make it to New York for New Year&s Eve 2012, here&s where to find live streaming of the event of your computer, when to catch 'Dick Clark&s New Year&s Rockin& Eve' on TV, and even how to download an app that gives you commercial-less liv.....

Why is Twitter Down? Site Greets New Year With Mass Outage
Twitter, one of the world&s most popular social networks, is ringing in the New Year with mass outages, as the site goes down, comes back up, and then crashes again. Here, find out why the site is likely crashing, and how to try exchanging tweets wit.....

Iceland names new finance minister in government shuffle
Iceland named a new finance minister Saturday in a cabinet reshuffle aimed at strengthening the centre-left coalition by decreasing internal dissent......

Youth protesters, police clash across Bahrain
Shi&ite youths chanting slogans against Bahrain&s royal family clashed with riot police across the Gulf island kingdom Saturday, trying to block highways in a second day of protests, residents said......

Euro could become world's leading currency: Noyer
The euro could become the world&s leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article to be published in the Journal.....

Swiss finance minister says U.S. tax deal needs time: radio
Switzerland and the United States need more time to negotiate a tax deal, Swiss finance minister Eveline Widmer-Schlumpf told Swiss radio on Saturday, as the United States pushes for it to supply information on bank clients who are alleged to have ev.....

Boko Haram: Nigerian President Declares State of Emergency in North
The president, a Christian, has vowed to crush Boko Haram......

Best 2011 YouTube Videos: Dancing Twins Justin and Jeremy [EXCLUSIVE INTERVIEW, VIDEO]
From puppies eating bows on Christmas to babies laughing at paper, no other video stole our hearts like adorable twins Justin and Jeremy with their fantastic dance moves......

New Years Eve 2012: Where to See Fireworks in New York City
If you are celebrating New Year&s Eve in New York City but do not feel like venturing to Times Square, there are other options around the island as well - ones that include fireworks......

New Year's 2012 Shortages Forecast Worldwide, and Not Just Norwegian Butter: A New Yorker's Opinion [VIDEO]
The great Norwegian butter shortage got me to thinking that shortages of 2012 might be just the ticket to send my faithful readers off to a rockin& New Year&s Eve celebration. For sure, Lady Gaga will make it seem alright, though......

Chris Draft Wife Keasha Draft Dies, Condolences Pour Out
Keasha Draft, the wife of retired NFL linebacker Chris Draft, has died of lung cancer. She passed away on Dec. 27, 2011......

Its Robin van Persie Again: Arsenal-Queens Park Rangers 1-0 (PHOTOS)
The Dutch completed 35 Premier League goals in 2011, breaking French legend Thierry Henry&s Arsenal record of 34 goals in a calendar year......

Happy New Year 2012: Top 10 Tech Disappointments of 2011
Happy New Year! Before we actually get to the new year and all its promise of new gadgets and fun electronics, let&s take a quick look back at the things in 2011 that made us wince......

U.S. in $3.5 billion arms sale to UAE amid Iran tensions
The United States has signed a $3.5 billion sale of an advanced antimissile interception system to the United Arab Emirates, part of an accelerating military buildup of its friends and allies near Iran......

UFC 141 Brock Lesnar vs Alistair Overeem: What Shocked You the Most? [POLL]
The UFC 141 fight between Brock Lesnar and Alistair Overeem was shocking on many levels. After Overeem destroyed Lesnar, the latter announced his retirement from mixed martial arts......

2011 Year in Review: A GOP Campaign for the History Books
The 2012 presidential campaign has been one of the most volatile in recent memory, and it isn&t even 2012 yet. Take a look back at the highlights and lowlights of the battle for the Republican nomination so far......

Fergies Birthday Shock: Blackburn Rovers-Manchester United 3-2 (PHOTOS)
Ayegbeni Yakubu scored the opener on 16 minutes from a penalty shot......

Kid Cudi on Ben Breedlove YouTube Videos, Funeral: "I Broke Down" [FULL TEXT]
Rapper Kid Cudi expressed his sympathy and gratitude to Ben Breedlove, an 18-year-old boy who recorded videos about his struggles with heart disease just one week before his death on Christmas Day. His funeral was held Thursday......

Happy New Year 2012: Countdown Clocks for Major U.S. Cities & More
Happy New Year! The year 2012 is just hours away in the United States......

Lady Thatcher is in Good Health, but Discussions for a State Funeral are in Full Swing
Plans are under way for the smooth handling of the eventuality that involves the presence of the Queen and other dignitaries from around the world, a report has said......

iPhone 4S vs HTC Amaze 4G: Apple vs Android
T-Mobile missed out on the iPhone, but they do have the HTC Amaze 4G, and it promises to take the Android vs Apple fight to another level. That&s because it is one loaded smartphone, and the $200 on contract price backs that up nicely......

Crispin Odey: 'horrble' 2011 has produced bargains
At the close of a tumultous twelve months on the markets, hedge fund manager Crispin Odey has described 2011 as a "pretty horrible year", but pointed to opportunities in 2012 presented by cheap prices.<img width='1' height='1' src='http://telegrap.....

Ozwald Boateng plans 150m worldwide expansion
Ozwald Boateng, one of Britain's leading men's fashion designers, is planning a major expansion of his business which could see him open as many as 100 stores across the world.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Standard Chartered chief Peter Sands believes his bank (and the UK) are perfectly placed to weather the global economic crisis
As the boss of an Asia-facing London-based bank booming in a global crisis, Peter Sands explains why the UK must follow Standard Chartered's lead.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6bdfd8/mf.gif' b.....

Eurozone is closer to break-up, warns Standard Chartered's Peter Sands
The chief executive of Standard Chartered, Peter Sands, has warned that there is an increasing likelihood of a country falling out of the eurozone because of the inability of politicians to resolve the crisis.<img width='1' height='1' src='http://.....

Drinks industry must resist David Cameron's meddling on prices
Is David Cameron flirting with socialism? That appears to be the only way to explain the remarkable revelation earlier this week by my colleagues at The Daily Telegraph that Downing Street is seriously considering setting a minimum price for alcohol......

Former Lloyds bosses to be sued over HBOS takeover
Sir Victor Blank and Eric Daniels, the former chairman and chief executive of Lloyds Banking Group, are to be sued in the US courts by American shareholders unhappy at the bank's takeover of HBOS at the height of the credit crisis.<img width='1' h.....

High street struggles despite heavy discounting by retailers
Key December retail figures will show a real terms decrease in sales revenue despite the huge crowds flocking to snap up post-Christmas discounts last week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6bdfdb.....

Former Lloyds bosses to be sued over HBOS takeover
Sir Victor Blank and Eric Daniels, the former chairman and chief executive of Lloyds Banking Group, are to be sued in the US by American shareholders unhappy at the bank's takeover of HBOS at the height of the credit crisis.<img width='1' height='.....

Microsoft moves to avoid further drunken shame
Microsoft has cautioned its staff always to serve food with alcohol, to "manage" the amount they drink at company parties and to stop drunken colleagues from boozing following embarrassing allegations about wildly drunken behaviour at a conference in.....

Oleg Deripaska: 'wealthy time' has ended for the eurozone
Oleg Deripaska, one of Russia's leading business figures, has warned Europe that its "wealthy time" is over and that Russia's newly agreed membership of the World Trade Organisation opens up fresh possibilities for British businesses.<img width='1.....

'Fit notes' double time off work for sick employees
It was supposed to cure sick-note Britain. But the new "fit note" regime - brought in last year to reduce long-term sickness absence - has actually doubled the time employees take off work, according to a major study.<img width='1' height='1' src=.....

Facebook IPO: the 64bn question of 2012
If it ever happens, Facebook will be the frenzied float of 2012, with a possible $100bn (64.4bn) valuation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6b82bf/mf.gif' border='0'/><br/><br/><.....

The biggest technology IPOs of 2011 - and how the shares have performed
Facebook is preparing for a stock market listing in 2012 - as investors mull over whether the social media company is a good bet, here is how the largest technology IPOs of the last year fared:<img width='1' height='1' src='http://telegraph.feedsp.....

VAT cheats facing New Year crackdown
Small businesses and sole traders with unpaid VAT face a new year crackdown from HM Revenue & Customs (HMRC) as the tax authorities seek to tackle "rule breakers" who failed to come forward during an amnesty campaign that closed on New Year's Eve.....

Hugh Osmond plans to raise 500m with new investment vehicle
Hugh Osmond is poised to launch the successor to his Horizon investment vehicle as early as this month, with an expected fund-raising target in the region of 500m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1.....

Crowds return to Longleat after Christmas opening
Longleat, the Wiltshire estate of the Marquess of Bath, has turned around its fortunes after attracting 100,000 visitors in its first Christmas season.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6b798f/mf.g.....

NYSE merger with Deutsche Boerse faces EU hurdle
Fresh concerns have been raised over the approval of the merger between NYSE Euronext and Deutsche Boerse as the European Commission prepares to publish its recommendation on the $9bn (5.8bn) deal.<img width='1' height='1' src='http://telegraph.fe.....

The high price of oil has blocked the West's economic escape route
The global economy will grow by around 3pc this year, down from 4pc in 2011. The US should manage a 2pc expansion, while Britain and the eurozone will struggle. A West European recession, the UK included, now looks unavoidable.<img width='1' heigh.....

Telegraph share tips for 2012
Equity markets faces one of the most challenging years in memory as Europe's debt crisis looks set to come to a head. Here are the 10 stocks Telegraph reporters have picked to beat the crisis.<img width='1' height='1' src='http://telegraph.feedspo.....

Prepare your portfolio for another politically charged 12 months
I'm guessing you will raise a glass tonight to a better 2012. No one's looking back fondly on the last year and I'm also hoping for the next 12 months to be easier.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Tom Stevenson: America still the best place to find safe-haven stocks
Thanksgiving really was the appropriate word this year. Whatever else our American cousins have to be thankful for, they are particularly grateful that they are safely on their side of the pond right now.<img width='1' height='1' src='http://teleg.....

Chinese are the new Big Spenders in town
High-spending tourists from China were out in force at the sales this week, says Alistair Osborne.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b68f4e1/mf.gif' border='0'/><br/><br/><a href=".....

Glaxo's Andrew Witty gets New Year knighthood
Andrew Witty, the chief executive of drugs giant GlaxoSmithKline, and Charles Allen, the former boss of ITV, have been knighted in today's New Year Honours list.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b6.....

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=.....