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Saturday 7 January 2012

UK Financial News on 2012-01-07

Labour urges 'better capitalism'
Labour calls for a "more responsible and better capitalism", detailing policies such as a league table highlighting excessive executive pay......

Unilever workers to stage strikes
Thousands of workers at Unilever are to stage a series of 24-hour strikes in a row over pensions, unions announce......

JD Sports looks set to buy Blacks
JD Sports emerges as the likely buyer of struggling retailer Blacks Leisure, the 300-plus chain that employs 3,500 people......

US economy creates 200,000 jobs
The US economy created 200,000 jobs in December, while the unemployment rate fell to 8.5%, official figures show......

Hong Kong Air makes Airbus deal
Hong Kong Airlines places order for 10 Airbus A380 aircraft worth about $3.8bn, easing concerns about an EU dispute with China......

UK car sales 4.4% lower in 2011
New car registrations in the UK fell 4.4% in 2011 to 1.94m, their lowest level in over a decade, new figures show......

Teaching unions shun pension deal
The two largest teaching unions have called for further improvements in the government's plans to change the teachers' pension scheme......

Hungary given third junk rating
Fitch becomes the third ratings agency to cut Hungary's credit rating to junk status as deadlock with the IMF continues......

Lender loses data of 1.4m people
Customers of doorstep lenders have been receiving letters informing them that their personal details have been lost......

NS&I 'has fixed' website problems
National Savings & Investments says it believes it has fixed its faulty website, but will monitor it over the weekend......

Euro unemployment stays at record
Unemployment in the eurozone stayed at a record high as the impact of the sovereign debt crisis rumbled on, official figures show......

House prices 'fell 1.3% in 2011'
House prices across the UK fell by an average of 1.3% in 2011, the Halifax mortgage lender says......

PwC fined 1.4m in JP Morgan case
Accountants PwC are fined 1.4m by regulators for failing to audit accurately the accounts of US bank, JP Morgan......

Olympus ex-boss ends takeover bid
The ousted boss of Olympus gives up on his attempts to regain control of the Japanese camera and medical equipment maker......

VW sells record 5.1m cars in 2011
Volkswagen, Europe's biggest carmaker, says it sold a record 5.1 million cars worldwide last year......

Smartphones boost Samsung profits
Samsung Electronics says it expects a big jump in profits for the final quarter of 2011, thanks to record smartphone sales......

Omaha oracle to croon to Chinese
Warren Buffett, the billionaire US investor, is set to sing to millions of Chinese internet users, state media claims......

Shell closes its pension scheme
Anglo-Dutch oil giant Royal Dutch Shell is to close its final-salary pension scheme to new employees in the UK......

HTC quarterly profits plunge 25%
Quarterly profits at Taiwanese smartphone maker HTC fall 25% as its models struggle to compete with its rivals......

Japan Airlines plans share sale
Japan Airlines plans to relist its shares on the Tokyo Stock Exchange as the next step in its recovery from bankruptcy......

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

VIDEO: Your Money: New year money makeover
In this week's Your Money, Declan Curry offers up a special programme with tips for a new year money makeover......

AUDIO: Cameron: 'It is a difficult year'
David Cameron has warned of another "testing year" ahead for households but said he hoped inflation would fall in the coming months to ease some of the pressure......

VIDEO: Camembert makers in row over name
Traditional cheese makers in France plan to take their industrial-scale competitors to court in a row over who can legally call their product Camembert of Normandy......

AUDIO: English apples rise in popularity
Sales of English apples have risen by a fifth due to better investment in home-grown crops......

AUDIO: Can tax avoidance be tackled?
Graham Aaronson QC explains whether there is a realistic chance of the government legislating on the issue of tax avoidance......

AUDIO: Locog ticket blunder 'a small issue'
Andy Hunt, the chief executive of the British Olympic Association, says the fact that tickets for the synchronised swimming sessions were oversold is a "small issue" for Locog......

AUDIO: A private sector 'lack of confidence'?
Evan Davis reports from Manchester on whether the local private sector is growing enough to substitute for the shrinking public sector.....

Explaining the ways to complain
How ombudsman services can help with your dispute.....

Toyota woos customers with safety
Battered Toyota fights back with new safety features.....

Virtual shopper 'is the future'
Predicting the end of doing the weekly shop.....

Tips for new financial resolutions
We ask people their tips for their finances.....

Defense cuts may hurt contractors
Jan 6 - President Obama makes cuts to defense that may hurt contractors. Karen Hendren reports......

Jobs data, eurozone concerns at odds
Jan 6 - Summary of business headlines: Data points to recovering U.S. jobs market; Italy's debt costs rise; Best Buy gains despite drop in sales; Alcoa cuts capacity; Stocks finish week higher. Jeanne Yurman reports......

Veterans face job hunt
Jan 6 - Veterans, faced with the same tough jobs market as all job hunters, get some help from companies and government programs. Jill Bennett reports......

U.S. Week Ahead: Alcoa may start earnings season with a thud
Jan. 6 - Alcoa's expected to see a loss of $0.05 a share according to StarMine when it reports fourth-quarter results after the close on Monday. That's compared to a gain of $0.21 a year ago......

G-zero and the end of the "9/11" era top 2012 risks: Bremmer
Jan. 6 - Eurasia Group president Ian Bremmer discusses the biggest risks facing the markets in 2012 and says the next phase in the middle east and the post-9/11 environment pose the greatest uncertainty......

White House top economist: challenges remain for jobs market
Jan. 6 - Alan Krueger, Chair of President Obama's Council of Economic Advisors, says though the labor market is improving, there are still challenges and many jobs that still need to be recovered......

Obama welcomes jobs data
Jan. 6 - U.S. President Obama welcomed a stronger than expected December unemployment report and urged Congress to extend a payroll tax cut. Deborah Lutterbeck reports......

PM Monti warns of divisions in bloc
Jan. 6 - Italian Prime Minister Mario Monti warns that the euro zone crisis risks causing tensions and misunderstandings within the bloc. Ciara Sutton reports......

Trading at Noon: Wall St. cuts losses, Nasdaq up
Jan. 6 - U.S. stocks cut losses and the Nasdaq turned positive after a strong jobs report and strength in large-cap Internet stocks......

Europe Week Ahead
Jan. 6 - Sovereign debt auctions across the eurozone will test nerves, while the ECB may signal it's next interest rate move......

Fitch downgrades Hungary to junk
Jan. 6 - Hungary's government said it was surprised by ratings agency Fitch's decision to downgrade the country's credit rating to junk, which followed similar moves by Moody's and Standard & Poor's. Joanna Partridge reports.....

Bank of America's CEO Brian Moynihan's rough ride
Jan. 6 - Bank of America CEO Brian Moynihan faces significant challenges to improve the bank and keep his job......

Surprise jump in U.S. payrolls
Jan. 6 - U.S. non-farm payroll numbers came in stronger than expected in December with 200,000 new jobs added to the economy. Jeanne Yurman reports......

Olympus whistleblower drops CEO fight
Jan. 6 - Ousted British CEO of Olympus Corp Michael Woodford abandons his bid to lead the company, and instead vows to sue for unfair dismissal. Ciara Sutton......

Greece needs bonfire of the bondholders
Breakingviews......

Inside the News: Woodford abandons Olympus CEO bid
Jan. 6 - The ousted British CEO of Olympus, Michael Woodford, has dropped his bid to return to the disgraced Japanese optical group......

22-year old DC activist takes on Verizon
Jan. 5 - Twenty-two-year-old Molly Katchpole, who lives in a tiny Washington, DC apartment, is being credited with helping to kill Verizon's plan to impose a $2 "convenience" fee on customers with an online petition. Rough Cut (no reporter narration).....

Asia: the week ahead
Jan. 6 - China's final data release for 2011 will set the tone for Asia, with investors looking to trade and commodity output data. Indonesia and South Korea decide on rates, while aussie traders will watch consumer confidence data. Jon Gordon report.....

Using feng shui for business
Jan. 5 - The ancient Chinese art of Feng Shui is sometimes used in the U.S. to gain an edge in business, but in China it's used as a weapon to outperform rivals. Carmen Roberts reports......

Iran tensions spur 6% oil spike, Austrian bonds hammered
Jan. 6 - Iran-US tensions prompt the biggest weekly rise in Brent for two months, while Austrian bond yields rise the most in more than 20 years on investor concerns about Austrian banks' exposure to Hungary......

NFL Playoffs 2012 Halftime Score Update: Texans Lead Bengals 17-10
It&s not exactly an offensive explosion, but the tensions are high and Cincinnati and Houston are slugging it out for the right to advance in the NFL playoffs 2012. It&s the first NFL playoff game, and former President George Bush and his wife, Barba.....

Serial killer behind three California homeless deaths: police
A serial killer may be responsible for the slayings of three homeless men in Southern California who were each found stabbed multiple times, police said on Thursday......

Warner Bros. planning 56-day release window delays
For the past year, studios have been flirting with stretching out the delays on when Netflix, Redbox and Blockbuster can rent new releases, but it looks like Warner Bros. is going to be the first to take the plunge......

"Rage against Americans" cited in L.A. arson case
A German citizen was charged on Wednesday with setting dozens of fires across Los Angeles over the New Year&s weekend in a spree an arson investigator said was motivated by a 'rage against Americans.'......

"Ninja Turtles" co-creator auctioning off art studio
How much money will be shelled out for the personal art studio belonging to 'Teenage Mutant Ninja Turtles' co-creator Kevin Eastman?.....

No need for routine removal of breast implants - government
Britain said on Friday a group of experts had concluded there was no need for the routine removal of breast implants made by a now defunct French company at the heart of a global health scare......

Jessica Chastain heading to Broadway for 'The Heiress'
Jessica Chastain is taking her rising star to Broadway......

Review: In "Devil Inside" Beelzebub is the new cooties
February brings stale candy on sale the day after Valentine&s Day, July offers PSAs featuring fireworks and missing fingers, and January means dopey movies about demonic possession......

Police nab Mexican drug boat north of LA, arrest 10
Police seized a Mexican motorboat loaded with more than a ton of marijuana north of Los Angeles early on Wednesday and arrested 10 people, the latest in a growing number of seizures as smugglers seek to ferry drugs north to market by sea, authorities.....

Nokia Buys Norwegian Startup Smarterphone for Low-End Push
Finnish cellphone maker Nokia has bought Norwegian technology startup Smarterphone AS to add more advanced features to its basic cellphone models......

"Deadliest Catch" star charged with assault
Feleti 'Freddy' Maugatai might want to limit his battles to the ocean......

Kings get Smart as new coach
The Sacramento Kings named Keith Smart as the team&s new head coach on Thursday after firing Paul Westphal following a 2-5 start to the season......

"Blair Witch" actress details how life went to pot
Heather Donahue is best known for 1999 horror film 'The Blair Witch Project' that showed her hyperventilating and weeping in the forest as she and her friends were terrorized by unseen evil......

Four Sprint Execs out in Reorganization
Four Sprint Nextel (S.N) executives are leaving in a corporate reshuffle at the No. 3 U.S. mobile provider involving the merger of sales and marketing for its business and consumer services operations, Sprint CEO Dan Hesse said......

'Fishes' reels in Alfred Molina, Frances O'Connor
Alfred Molina, Frances O&Connor ('Bedazzled'), Jimmi Simpson ('Date Night') and British actor Aneurin Barnard have joined the cast of 'Emanuel and the Truth About Fishes,' TheWrap has confirmed......

Analysis: U.S. Casinos, Vendors Eye Big Online-Poker Stakes
Louis Castle has been preparing for this moment for months......

"Devil Inside" nets $2 million in midnight showings
'The Devil Inside' is off to a scary-good start at the box office......

Kelly Clarkson among 8 new "The Voice" guest-mentors
Country star Miranda Lambert, Lionel Richie, Kelly Clarkson and five other big-name musical artists have signed on as guest mentors for the second season of NBC&s 'The Voice,' the network said Friday......

NBC TV chief says fall season "worse than I hoped for"
NBC entertainment chief Robert Greenblatt admitted on Friday that the struggling TV network got off to a 'really bad' start last fall, after low ratings and cancellations of several high-profile new shows......

IMDB "Jane Doe" plaintiff reveals her real name
The actress who had anonymously sued IMDB.com and its owner, Amazon.com, for posting her age has revealed her name in an amended complaint against the companies......

"Harry Potter", "Hangover 2" among Warner hits in 2011
Thanks to the final Harry Potter film and the raunchy comedy 'The Hangover Part II,' Warner Bros. racked up $4.7 billion worldwide in 2011, the studio announced on Friday......

Mila Kunis is newest face of Dior
'Friends with Benefits' actress Mila Kunis is the latest celebrity to become the face of Dior, the French fashion label said on Thursday......

Stratfor Warns of Fake Emails Sent to Subscribers
Two weeks after disclosing that its website had been hacked, a private intelligence analysis firm on Friday warned subscribers that hackers were now circulating false emails offering the company&s services for free......

Edgerton set, Chastain in talks for Bigelow's bin Laden film
Kathryn Bigelow and Mark Boal&s movie about the hunt for Osama bin Laden is loading up on stars......

Singer Etta James leaves hospital
Soul singer Etta James, who is terminally ill and suffering from leukemia, was released from a California hospital on Thursday and is at home resting, her business manager said......

Ron Burkle buys stake in Relativity Media
Two months after loaning the company money to open two movies, L.A. billionaire Ron Burkle has taken a minority stake in Relativity Media, TheWrap has learned......

NinjaVideo co-founded sentenced to 22 months for piracy
Hana Amal Beshara, the co-founder and public face of pirate website NinjaVideo.net, has been sentenced to 22 months in prison for conspiracy and criminal copyright infringement, U.S. Attorney Neil H. MacBride, Assistant Attorney General Lanny A. Breu.....

James Franco in talks for starring role in "The Game"
James Franco is in early talks for a starring role in 'The Game,' the MGM movie based on Neil Strauss& New York Times bestseller about picking up women, TheWrap has confirmed......

Chelsea Handler doesn't have time to play herself
Why isn&t Chelsea Handler playing a character based on herself on NBC&s upcoming 'Are You There, Chelsea?'.....

SAG-AFTRA merger team readies for 9 days talks
Members of the Screen Actors Guild and the American Federation of Television and Radio Arts and Sciences merger committee will meet in Los Angeles for nine days beginning Saturday to iron out details of how to combine the unions......

Probe into role of Morgan Stanley and Ernst & Young in Hellas collapse
An investigation has been launched into the 3.4bn (2.8bn) collapse of Wind Hellas and former shareholders Apax, TPG and Weather Group, as well as its advisers, Morgan Stanley and Ernst & Young.<img width='1' height='1' src='http://telegraph.fe.....

How private equity plundered profitable Greek telecoms company Hellas
The 'exotic securities' and debt that crippled Greek phone operator.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c4252/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/12.....

Davos: The key people aiming to pull the eurozone back from the brink
The key people who are aiming to pull the eurozone back from the brink.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c4253/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

Lansdowne Partners chief Sir Paul Ruddock 'shocked' that New Years Honours List knighthood was controversial
Hedge fund chief Sir Paul Ruddock addresses the controversy over a decision to award him a knighthood and calls for a more transparent honours system.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c4255/mf.gi.....

Lansdowne Partners founder and Tory party donor Paul Ruddock defends knighthood
Sir Paul Ruddock says rules for giving awards should be overhauled to make them more transparent.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c4257/mf.gif' border='0'/><br/><br/><a href="h.....

Knighted businessmen: in pictures
Sir Paul Ruddock, the hedge fund manager caught up in controversy after he was awarded a knighthood, has strongly defended his honour. Here, we look at other business figures who have been knighted this year.<img width='1' height='1' src='http://t.....

A wife's toxic dollar deal that could bring down top Swiss banker Philipp Hildebrand
Ill-judged currency bet could topple one of Switzerland's top bankers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c4259/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Marks & Spencer chief Marc Bolland is hoping for festive cheer from Christmas sales figures
When Marc Bolland stands up to present Marks & Spencer's Christmas trading update on Tuesday, he may be forgiven if he takes a pristine handkerchief from his impeccable Autograph suit and wipes his brow in relief.<img width='1' height='1' src=.....

Arup chairman Robert Care 'cautiously confident' of landing UK high speed rail contract
UK engineering giant Arup is set to receive a boost with the Government's expected decision to approve the high speed rail link between London and Birmingham.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c42.....

UK's largest free-range egg farm shelves expansion over EU row
The UK's largest free-range egg farm has shelved plans to expand its 45m turnover business because of the row over egg production within the European Union.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c425c.....

David Cameron's EU veto puts job of MEP Sharon Bowles in jeopardy
One of Britain's most high-profile European politicians could be ousted from her job in a wave of anti-British sentiment that has followed David Cameron's use of his veto last month.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Morrisons eyes Best Buy stores to expand Kiddicare brand
Wm Morrison, the supermarket, plans to shake-up the UK baby products market by acquiring the 'big box' stores being vacated by Best Buy and converting them into its Kiddicare brand.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

David Cameron to anger City with plans to make shareholder remuneration votes mandatory
City investors are bracing themselves for a battle with the Government after the Prime Minister revealed plans to make shareholder remuneration votes mandatory in an attempt to curb excessive pay.<img width='1' height='1' src='http://telegraph.fee.....

RBS overhaul begins with ring-fencing divisions
The dramatic overhaul of Royal Bank of Scotland's investment banking arm will lead to its merger with one of the taxpayer-backed lender's most profitable divisions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

'Printed money' and regulatory diktat are keeping UK gilt yields low
The UK Government claims Britain is a safe haven. On the surface, that looks true.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c6331/mf.gif' border='0'/><br/><br/><a href="http://da.feedsp.....

Tom Stevenson: Income, not growth, is once again the main driver of returns
For a couple of years in the 1990s I wrote a newsletter called Investing for Growth. Its approach was simple.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c6332/mf.gif' border='0'/><br/><br/>&.....

Who's in charge the next time banks fail?
In his supremely readable memoirs, Nigel Lawson picks apart what he describes as the "Johnson Matthey debacle".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c6333/mf.gif' border='0'/><br/><br/>.....

Financial week ahead: January 9 to January 13
Trading updates from HMV and Marks & Spencer will reveal how two of the biggest high street names fared over the key Christmas period.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c3991/mf.gif' border='0.....

Dragon Bannatyne to face a fiery legal foe
Entrepreneurs Peter Jones and Theo Paphitis from TV programme Dragons' Den have been making headlines this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c3992/mf.gif' border='0'/><br/><br/&g.....

Newton Investment's Helena Morrissey says shaking up boards is 'better for business'
Newton Investment Management chief Helena Morrissey talks about her CBE and the progress made in her campaign to get more women onto UK boards.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c425e/mf.gif' bord.....

Americans see their economic cup as half empty, not half full, in 2012
Recent signs of growth in the US economy are no guarantee of a robust recovery.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9c425f/mf.gif' border='0'/>.....

Think Tank: Getting behind the firms that are leading from the front
As the UK faces up the growing prospect of a double dip-recession and traditional trading partners tighten their belts, Telegraph Media Group is launching a year-long campaign to champion those private British companies that are growing against the o.....

How should we fund the UK's growth agenda?
January's economic forecasts for the year ahead may not make festive new year reading, but they do represent a call to action for businesses and government, working together, to help contribute towards a new growth agenda for the UK.<img width='1'.....

Unilever workers to stage series of strikes
Thousands of workers at Unilever, the consumer goods giant, are to stage a series of strikes in a huge escalation of a row over pensions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9bef81/mf.gif' border='0'.....

End of euro is 'fantasy', says eurozone policymaker Luc Coene
Luc Coene, a Governing Council member at the ECB, said that even if Greece was to leave the euro, Europe would unite to protect the system.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9b5e29/mf.gif' border='.....