Search This Blog

Monday 2 January 2012

UK Financial News on 2012-01-02

Eurozone factory decline persists
The eurozone manufacturing sector contracted for the fifth successive month in December, but showed a slight improvement on November, a survey says......

Commuter pain as rail fares rise
Rail commuters preparing to return to work after the Christmas break face fare rises of up to 11% from Monday, watchdog Passenger Focus says......

Albums decline but digital rises
Album sales continue to fall despite a 24% rise in digital album downloads in 2011, against "a backdrop of chronic piracy", says the BPI......

Google revamps search home page
Google is rolling out a major change to its home page, offering its other services in pull-down menus......

Nigeria fury at fuel price rises
Ordinary Nigerians and trade unionists condemn the government for withdrawing a fuel price subsidy which has seen some petrol prices doubling......

Venezuela to pay Exxon only $255m
Venezuela says it will pay Exxon Mobil $255m in compensation for nationalised assets - less than a third of what was awarded to the oil giant......

Leaders set first 2012 euro date
German Chancellor Angela Merkel and French President Nicholas Sarkozy agree their first meeting of 2012 to discuss the eurozone debt crisis......

India 'may reverse' rate policy
India's central bank, which has raised interest rates 13 times in two years, tells the BBC it may ease monetary policy amid fears of a global slowdown......

Hyundai sees slower sales growth
Hyundai and its affiliate Kia Motors expect sales growth in 2012 to be considerably slower than 2011 due to the global economic downturn......

China factories get New Year lift
Chinese factories get an end of year production boost as economic activity picks up around the Western and Chinese New Years......

Europe leaders warn of grim 2012
European leaders, including German Chancellor Angela Merkel, warn of more hardship and sacrifices in 2012 as the eurozone wrestles with a debt crisis......

India eases foreign stock rules
India's government will open up its stock market to individual foreign investors in an attempt to boost demand and liquidity......

Rupert Murdoch begins tweeting
Rupert Murdoch joins the microblogging service Twitter and attracts over 45,000 followers in his first few days......

150m boost for elderly home care
Ministers allocate an extra 150m for patients to get care at home after warnings local authority cuts were creating a "crisis" in social care......

Greece sees first strike of 2012
Greek doctors and pharmacists go on strike in the country's first walkout of 2012......

VIDEO: Can Europe match US internet firms?
The giants of the internet world, Facebook, Google, Apple and Microsoft all come from the US, so where are the European equivalents?.....

VIDEO: Difficult 2012 predicted for Euro
European leaders have warned of a difficult 2012, as many economists predict a recession this year.....

VIDEO: From City worker to relief worker
One British man, Jamie El Banna, describes how he set up a relief centre in Japan following the country's devastating earthquake and tsunami in March 2011......

Redknapp: An Englishman should manage England
Harry Redknapp talks to Robert Peston about modern football and the lure of being England manager.....

Asia faces uncertainty and change
Asia faces transition, uncertainty and change.....

Digging to start on Crossrail project
How the new Crossrail link is being built.....

Training Africa's future leaders
The man training Africa's future presidents and business leaders.....

Indian internet seeks the masses
Facing the challenge of getting 1.2 billion people online.....

Greeks fear tough 2012
Jan 1 - Greeks fear 2012 will be even worse than 2011 as their debt-laden country enters its fifth year of recession. Nick Rowlands reports......

Codelco seeks to lock in Anglo mining stake
SANTIAGO, Jan 2 - Chile&s state copper giant Codelco said on Monday it exercised a disputed option to buy a stake in Anglo American&s south Chile mining assets, but is willing to consider taking a smaller stake if Anglo proposes a formula that safegu.....

App wishes you were here with a musical postcard
An app that acts like a musical postcard enables users to capture and share musical moments with friends and family and to discover great songs along the way......

Samsung Digital Camera Debuts Front-Facing Screen and Wi-Fi
Like many post-holiday gift-getters, you may be taking more time out of your day to take more pictures with your new glitzy smartphone. Smartphone cameras came a long way in 2011, to the point where digital point and shoot camera sales began falling .....

Caterpillar moves to lock out CAW workers
Caterpillar Inc&s Electro-Motive unit has decided to lock out locomotive manufacturing workers in London, Ontario, after finding out the Canadian Auto Workers told members not to strike following the breakdown of contract negotiations......

Apple's Jonathan Ive Now a Knight
Apple Inc&s head of design was awarded knighthood in the United Kingdom in the New Year Honors list......

2012 NFL Playoff Schedule Set; Games Begin Jan. 7
The 2012 NFL Playoffs are poised to begin -- the field is set and games will start on Jan. 7 with Wild Card matchups culminating with the Super Bowl on Feb. 5 in Indianapolis......

Chrome Continues to Grab Market Share as Internet Explorer Slides
Microsoft Corp.&s Internet Explorer continued to lose users in December as Google Chrome snatched market share to grow to a record high 19.1% market share.....

Apple Founding Papers Sold for $1.6 Mil.
The original documents which spawned the birth of one of the most successful companies in the world were sold through an auction for 10 times more than its estimated value......

Google's First Doodle for 2012
Google gave its Google Doodle fans a one-two punch by posting two doodles to ring in 2012. On the last day of 2011, Google had a Doodle representing the ways people celebrate the incoming New Year. The last Doodle of 2011 had the letters of Google de.....

You thought 2011 was tough?
Shaky Europe. Political gridlock. Volatile markets......

Chile Codelco open to formula that keeps option value
Chile&s state copper giant Codelco <CODEL.UL> said on Monday it was willing to consider a formula that ensures it protects the economic value of a disputed stake option in Anglo American&s <AAL.L> southern Chilean properties......

Rose Bowl 2012: Live Streaming of Wisconsin Badgers vs. Oregon Ducks Available Now [WATCH]
The 98th Rose Bowl presented by Vizio has begun with the Wisconsin Badgers taking on the Oregon Ducks in 2012......

How to Profit from India's Plan to Open Stock Market to Foreigners
India has decided to open up its equity market to individual foreign investors in a move aimed at increasing foreign investment in the Indian economy......

Mass. Trooper Mistakes Dogs for Deer; Shoots Woman Walking Retrievers
An off-duty state trooper hunting in Massachusetts thought he saw deer. He fired, hitting and wounding a 66-year-old woman who was out walking her dogs instead. He thought the dogs were deer, but in fact they were two retrievers out for a walk with t.....

Kardashian Nanny Book: Is Pam Behan Writing a Tell-All?
A former nanny for the Kardashian clan is reportedly writing a tell-all book about her former employers......

ASUS Transformer Prime: Locked Bootloader Means no Ice Cream Sandwich
The highly anticipated ASUS Eee Pad Transformer Prime has arrived with a major flaw: a locked bootloader......

Amazing Meteor Shower Peaks Jan. 4
2012&s first meteor shower promises to be quite brilliant because the moon will not be up to outshine the event. The Quadrantid meteor shower will peak Jan. 4, and unlike the Geminid shower in December 2011, it won&t be hard to see because of a wanin.....

Tens of thousands protest against Hungary government
Tens of thousands of Hungarians protested in Budapest on Monday against the government and its new Basic Law in a show of anxiety over what they see as the ruling Fidesz party&s moves to weaken democratic institutions and cement its powers......

Oregon Ducks vs Wisconsin Badgers Rose Bowl 2012 Battle Begins 5 pm ET
In less than two hours the Oregon Ducks and Wisconsin Badgers will battle it out in their new 2012 uniforms at the 98th Rose Bowl in Pasadena, Calif. The game starts at 5 p.m. ET. You can watch a live stream or you can listen to the radio broadcast. .....

Precious Metals Steady, European Markets Rise as 2012 Begins
Precious metals held steady amid low volume on the first trading day of 2012. Gold rose 0.2% to $1,567 per ounce and silver advanced 0......

Friendly Fire from Ex-Nassau Officer Likely Cause of ATF Agent Death in Drugstore Robbery
It looks like a tragic case of friendly fire felled the Bureau of Alcohol, Tobacco, Firearms and Explosives Agent John Capano, sources told the New York Daily News......

Codelco seeks to buy disputed Anglo mining stake
SANTIAGO, Jan 2 - Chile state copper giant Codelco on Monday said it had exercised a $6 billion option to buy mining assets in southern Chile, but global miner Anglo American defied the move, setting the stage for a lengthy legal battle......

Dead Birds Fall from the Sky in Arkansas Again
In something out of a horror movie, 100 dead birds fell from the sky in Beebe, Arkansas, on Dec. 31 New Year&s Eve, mere hours before the clock struck 2012......

'The Sims' designer creating new game for real life
Will Wright, the designer behind successful video game simulations including 'SimCity', 'The Sims' and 'Spore', is at it again. Only this time, rather than controlling virtual people or creating space creatures, the protagonist of 'HiveMind' is the a.....

"The Sims" designer creating new game for real life
Will Wright, the designer behind successful video game simulations including 'SimCity', 'The Sims' and 'Spore', is at it again. Only this time, rather than controlling virtual people or creating space creatures, the protagonist of 'HiveMind' is the a.....

Apple App Store Inspires Robot Version in San Francisco
Apple, BlackBerry, Amazon, Nook and Android all have their own application stores for their mobile devices, but one man in San Francisco plans to open an app store for robotics software......

The Bachelor Premiere Previews Offer Romance, Sharp Nails
Will Ben Flajnik buck 'The Bachelor' trend and find true love once and for all?.....

Fourteen Members of Same Family Murdered in Pakistan Vendetta
The feud between the families had to do with a dispute over the possession of some land......

Anglo says not obliged to sell shares to Codelco
Global miner Anglo American <AAL.L> said on Monday it was not obliged to sell any of its shares in its southern Chilean properties to state copper giant Codelco, as a battle over a disputed option contract deepened......

HGTV Dream Home 2012: Details on How to Enter to Win [PHOTOS]
The HGTV Dream Home 2012 contest is finally underway. One lucky winner will get the prize of a lifetime - a modern, western ranch in Park City, Utah......

Former BP chief Tony Hayward to give yacht to charity
It briefly became the most notorious boat in the world, representing the worst excesses of "irresponsible capitalism". But now Bob, the yacht owned by former BP chief executive Tony Hayward, could be sailing off to a better home.<img width='1' hei.....

Hastings' Neil Utley faces Lloyds of London disciplinary board
Insurance entrepreneur Neil Utley will appear before a Lloyd's of London disciplinary board later this month as part of an investigation into Equity Red Star, the underwriter he once ran.<img width='1' height='1' src='http://telegraph.feedsportal......

Grand Bazaar's gold merchants turn to Bloomberg
Gold sellers in the Grand Bazaar of Istanbul have been conducting business in the same way for more than 550 years, carefully weighing out quantities of the precious metal and swapping it for currency.<img width='1' height='1' src='http://telegrap.....

Fresh investor rebellion brewing at Omega Insurance
Pressure is mounting on the chairman and chief executive of Omega Insurance following a year-long battle for control of the company, which ended without the business being sold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Murdoch hacking warning admission won't lead to review by BSkyB board
The BSkyB board does not regard James Murdoch's admission that he was warned of the extent of phone hacking in 2008 as "material", sources at the company have claimed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Call for care homes to face financial oversight
Stronger financial regulation of care providers is needed to create an early warning system for struggling companies in the wake of Southern Cross's collapse, according to a restructuring expert.<img width='1' height='1' src='http://telegraph.feed.....

Bank ring-fencing rule gives foreign banks advantage
Foreign banks could gain a competitive advantage over their British rivals as a result of a controversial change in the wording of Government proposals requiring UK-based banks to ring-fence their retail arms.<img width='1' height='1' src='http://.....

Greek tax crackdown official accused of failing to collect fines
The Greek official charged with cracking down on tax evasion in the indebted country has been accused of failing to collect fines imposed on smugglers of fuel and heating oil.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Shoppers shun the January sales
Shoppers have abandoned the high street in recent days, amid fears that January 2012 could see a worsening of conditions for retailers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b7684db/mf.gif' border='0'/&.....

Retailers gets tough with suppliers over terms
Most British retailers have taken far longer to pay their suppliers over the last year, with Clinton Cards and Marks & Spencer among the worst culprits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b7684e0.....

European markets climb despite further fall in manufacturing
Manufacturing activity in the eurozone declined for a fifth consecutive month in December, but European stock markets started 2012 firmly as the economic data came in better than expected.<img width='1' height='1' src='http://telegraph.feedsportal.....

University housing sees 800m investment rush
More than 800m of capital piled into UK student accommodation last year as investors sought to benefit from a shortage of university housing and growing numbers of wealthy overseas students.<img width='1' height='1' src='http://telegraph.feedsport.....

Employment law reform for small firms 'a gimmick'
The Government's moratorium on employment law for micro businesses has been branded a gimmick, after it emerged that those employing fewer than 10 staff were not exempt from a single regulation last year.<img width='1' height='1' src='http://teleg.....

Office market faces difficult 2012 as leases expire
More than 14m sq ft of office space in the UK - the equivalent of 14 skyscrapers - is approaching an expiry or break clause on a lease, according to property agents Jones Lang LaSalle.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

North-South housing divide at its widest point since 2000
The North-South divide in the housing market is at its widest in more than a decade, new figures reveal, with the gap expected to grow further.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b76332d/mf.gif' bord.....

Bankers ready to sue if bonuses too small
A growing number of bankers are considering suing their employer if they do not get the bonus they think they deserve this year, according to City employment lawyers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

Lack of BRIC talent costing UK financials dear
A lack of talent in emerging markets could hamper the global growth of UK financial services, according to a new survey.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b763aa4/mf.gif' border='0'/><br/>&.....

PwC boss Ian Powell stays cool as the issues to reconcile mount up
PricewaterhouseCoopers chairman Ian Powell is eager to learn from the financial crisis and will run for a second term as head of the firm in the UK.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b7636fe/mf.gif'.....

Supermarket loss costs Rachel's Dairy 1m
Organic yogurt maker Rachel's Dairy has written off almost 1m of its value after a major supermarket stopped selling some of its products.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b7636ff/mf.gif' border='0.....

PwC gets record number of applicants for graduate scheme
Accountancy giant PricewaterhouseCoopers (PwC) is on track to receive a record 30,000 applications for its graduate entry scheme in the latest indicator of the strains in the British labour market.<img width='1' height='1' src='http://telegraph.fe.....

China's domestic over-capacity and stagnating global demand point to hard landing
Downside risks to the Chinese economy in 2012 come from a sluggish global economy, domestic industrial over-capacity and a weak property market, Bank of China has said.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Faltering commodities prices hold promise for 2012
Commodity bulls were reaching for their tin hats in 2011 - but is 2012 going to be much better?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b763702/mf.gif' border='0'/><br/><br/><a href="htt.....

With the crisis close to its worst point, 2012 will be the critical year for the eurozone
The place to start any review of the year ahead is with mea culpas for the year just passed. As usual, I have my fair share of them. But this time my forecast errors have a remarkable characteristic.<img width='1' height='1' src='http://telegraph......

What does 2012 have in store?
The death of the euro? Trouble in China? Recovery in the US? The Telegraph's leading business and economics commentators give their view of what 2012 has in store.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1.....

The FTSE could produce a positive surprise for brave investors in 2012
Last year was a disappointing one for stock market investors, with the FTSE 100 ending the year down 5.5pc - the worst performance since 2008.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b762278/mf.gif' borde.....