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Sunday 8 January 2012

UK Financial News on 2012-01-08

PM backs executive pay vote plan
David Cameron promises to give shareholders binding votes on executive pay, as part of measures to deal with excessive salaries......

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......

Credit union reforms introduced
New rules come into force which will free up credit unions in the UK to compete more effectively with banks......

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......

VIDEO: Cameron: Growth to come from start-ups
The prime minister expects growth in the UK to come from start-ups, he has told the BBC's Andrew Marr......

VIDEO: Argan oil helps Moroccan women
In rural Morocco, women have traditionally not gone out to work, but the soaring demand for Argan oil has changed that......

VIDEO: Will Turkish Airlines keep upward trend?
Just a decade ago, Turkish Airlines was an insignificant loss-making national airline. Now it is Europe's fourth largest carrier in terms of passenger numbers......

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......

Brazil's economy marching to samba beat
Brazil continues its economic march.....

Hungarians despair of political class
Hungarians have good reasons to be fed up.....

New Zealand trade balance
New Zealand&s trade balance deficit widened to NZD$-308 million compared with the prior reading of NZD$-228 million that was initially NZD$-282 million also it exceeded expectations of NZD$-300 million......

MV Rena Splits: Only 20% of 300 Containers Salvageable - Salvors (VIDEO)
The ill-fated MV Rena has further split in two pieces in a bout of bad weather over the weekend, and the salvors estimate that only 20% of its 200-300 containers could be saved now that the cargoes have been washed overboard......

Aussie Bungee Jumpers Cord Snaps But Survives 111-Metre Fall, Croc-infested African River
A 22-year-old woman from Australia fell 111 metres into a river during a failed bungee jump in Zimbabwe on New Year&s Eve, but she survived to tell her death-defying experience......

No Need for Fed to Buy Bonds as Economy Gains: Official
Signs the recovery is gaining strength suggest the Federal Reserve may not need to buy any more bonds to spur growth, a top policymaker said......

Stocks End the Week Mixed Despite Strong US Jobs Numbers | January 9, 2012.
Asian Markets are set for a weak opening after Stocks closed mixed Friday, as even a strong government employment report was not enough to offset ongoing worries over the euro zone debt crisis......

Global Regulators Signal Leeway on New Bank Liquidity Rules
Global regulators vowed on Sunday to press ahead with tough new liquidity rules for banks from 2015, but in a move to head off opposition from industry, also said lenders can tap into safety buffers in times of stress......

Government to Say if Scots' Independence Vote Result is Binding
The government will announce soon whether a Scottish vote for independence from Britain would be legally binding, Prime Minister David Cameron said on Sunday......

Autochartist - Daily Commodities Update: Cocoa
Cocoa futures bounced off of a key support level after sliding over $150 per metric ton in the latest sell-off. Autochartist has detected this support level as the lower end of a Flag chart pattern, illustrated here on the 240-minute time frame on th.....

Rivals Unleash Fire Against Romney
U.S. Republican front-runner Mitt Romney emerged on Sunday from back-to-back debates in New Hampshire a bit dinged but not seriously dented as rivals stepped up attacks to slow his march toward the presidential nomination......

Gold and the Euro
Last week the Euro cost to buy Gold was + 5%. Prices for buying Gold hovered around US$1620 oz Friday morning in London, becoming marginally more volatile after release of US employment data, but failing to establish a definite direction. Silver Pric.....

Logan Kushner: Why the 19-Year-Old Drowned in a Creek
Logan Kusher, a 19-year-old male from Safety Harbor in Florida, drowned after taking synthetic drugs in Kapok Park, police reported......

EURUSD: Sees Bearish Momentum Extension, Eyes The 1.2587 Level
EUR continues to weaken breaking below the 1.2874/56 levels to close the week lower. This now leaves the risk of further weakness towards its Sept 2010 low at 1.2703 where a breach will pave the way for further declines towards the 1.2587 level, its .....

Sunday Update: Is the Dollar Changing its Stripes?
It was meant to be all about the US and its economy on Friday after we heard from the BLS that the US created 200k jobs in December, however yet again Europe managed to steal the limelight. Fears about upcoming peripheral debt auctions for Italy and .....

iPad 3 Release Date in March: What to Expect
The iPad 3 release date speculation has started to build, with most sources hinted towards a March release......

Kristy McNichol Comes Out; Raises Dachshunds With Partner Martie Allen (VIDEO)
McNichol, who lives with her partner Martie Allen and has for two decades, decided to make a public statement about her sexuality as she approaches the age of 50. She told People Magazine in a statement through her publicist she wants to 'be open abo.....

Algeria Reported Buying 51% of Vimpelcom Unit
The Algeria state has decided to acquire 51 percent of Vimpelcom&s Djezzy mobile phone unit and Vimpelcom will stay on as operator, the Algerian state news agency reported on Sunday......

Chavez: Venezuela Won't Recognize World Bank Ruling on Exxon Claim
Venezuelan President Hugo Chavez said Sunday that his country would not recognize a ruling by a World Bank tribunal in a multibillion-dollar arbitration case with Exxon Mobil......

Demi Moore to Reveal Ashton Kutcher Divorce Secrets In New Book
Demi Moore has signed a $1.3 million book deal with Harper Collins that will apparently reveal details of her messy divorce with Ashton Kutcher, Entertainment Wise reported......

As ANC Celebrates Centennial, Some in South Africa See Betrayal of Its Ideals
South African President Jacob Zuma led a purification ceremony at the site in Bloemfontein where the African National Congress was born 100 years ago. Many say the party needs cleansing itself......

Arabs Urge Syria to Halt Violence, but Don't Seek U.N. Role
The Arab League urged the Syrian government Sunday to stop its violence against protesters and allow Arab monitors in the country to work more independently, but stopped short of asking for United Nations experts to bolster its peace mission......

Cameron: I'll Veto Europewide Tax on Transactions
British Prime Minister David Cameron said Sunday he would veto a European-wide financial transaction tax unless it was adopted globally, deepening a confrontation with European Union heavyweights France and Germany......

New Hampshire Primary 2012 Shocker: Paul Only 15 Pct Behind Romney
The New Hampshire Republican primary of 2012 may be a competitive race after all. In a shocking new Suffolk University/7NEWS poll released on Jan. 8, Ron Paul surged to 20 percent while Romney dropped to 35 percent......

CES 2012 Preview: Fitness Technologies to Showcase the World's Smallest 100% Waterproof Audio Gears (PHOTOS)
Fitness Technologies plans to showcase its new-announced, worlds smallest 100 percent waterproof audio line of products at the Consumer Electronics Show (CES) 2012 in Las Vegas......

Iran Moving Nuclear Work to Deep Mountain Bunker
Iran will in the 'near future' start enriching uranium deep inside a mountain, a senior official said Sunday, a move likely to further antagonize Western powers that suspect it is seeking nuclear weapons capability......

Traffic lights turning green
Counting container ships plying the high seas and air cargo takeoffs is one way to track the outlook for the global economy. Both measures point to weak growth in the months ahead but no severe storms......

CES 2012 Preview: 3D Now to Officially Launch Its "Theater" for Converting any 2D HD display to 3D
3D Now plans to introduce its new product 3D Now Theater, the world&s first non-anaglyphic frame-sequential stereoscopic processor that can convert any 2D HD display with an HDMI input - new or old - into a high quality, stereoscopic 3D display at th.....

CES 2012 Preview: Greenpeak Unveils GP570 Chip Ahead of the Show
The fabless semiconductor company GreenPeak Technologies, has unveiled its new GP570 chip that will allow the development of low cost motion-enabled remote controls......

Chavez: Venezuela Won't Recognize World Bank Ruling on Exxon Claim
Venezuelan President Hugo Chavez said Sunday that his country would not recognize a ruling by a World Bank tribunal in a multibillion-dollar arbitration case with Exxon Mobil......

Beyonce and Jay-Z Baby: A Look at Music's Royal Couple Through the Years [PHOTOS]
Beyonce and Jay-Z welcomed their first child together, baby girl Blue Ivy Carter, on Jan. 7. Take a look at music&s royal couple through the years......

France May Go It Alone on Financial Transaction 'Tobin Tax'
France could table a financial transaction tax for parliamentary approval as soon as next month, even without the backing of its European partners, a senior official said on Sunday......

Italian Prime Minister Mario Monti: 'The euro is not in crisis'
Italian Prime Minister Mario Monti on Sunday rejected talk of a euro crisis and said Rome was open to the idea of a tax on financial transactions championed by France - but only if the measure was part of an EU-wide effort.<img width='1' height='1.....

David Cameron's plan to veto pay will be a legal minefield, warns Institute of Directors
Granting shareholders the power to veto bosses' lavish salaries is fraught with legal and practical problems and does little to change boardroom behaviour, business leaders have said.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

David Cameron: I will veto financial transaction tax
Prime Minister David Cameron has said for the first time he would veto a European-wide financial transaction tax unless it was imposed globally, deepening a confrontation with France and Germany.<img width='1' height='1' src='http://telegraph.feed.....

KPMG partner profits fall 10pc on weak M&A and Government spending
A desolate mergers and acquisitions market and lack of Government spending on consultants are to blame for a 10pc drop in partner profits at accounting frm KPMG.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ba.....

EU, US and Japan agree to undergo 'detailed' reviews of Basel III implementation
Top central bankers and regulators in the European Union, United States and Japan have agreed to face 'detailed' peer reviews over how well they are implementing new international bank capital rules.<img width='1' height='1' src='http://telegraph......

Bowmark buys burglar alarm company CSL DualCom for 32m
One of Britain's largest suppliers of technology for burglar alarms has been bought by private equity firm Bowmark Capital for 32m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ba0fb27/mf.gif' border='0'/>&.....

Ladbrokes in talks with billionaire Betdaq owner Dermot Desmond over 'technology' deal
Ladbrokes has started talks with Irish billionaire Dermot Desmond, the owner of the Betdaq betting exchange, over a 'technology' deal to revamp the bookmaker's faltering online business.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

We may pass through Hell but the UK will rise from the flames
Over recent years, the ills of the US economy have been remarkably similar to the UK's: excessive growth of consumption, fuelled by credit; an overvalued housing market; a huge trade deficit with the rest of the world; and weak corporate investment.&.....

How being a private company has helped LGC solve the murders of Stephen Lawrence and Milly Dowler
Company's chief hails privatisation as science firm continues to grow.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ba0f60a/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

West End and City become safe haven for property investors
The amount of money investors spent on commercial property in central London rose last year as the eurozone debt crisis turned the West End and City into a safe haven.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Bristol-Myers Squibb targets hepatitis C with $2.5bn deal to buy Inhibitex
American pharmaceutical giant Bristol-Myers Squibb is set to buy US biotech company Inhibitex in a $2.5bn (1.6bn) deal, bolstering its portfolio of drugs targeting the burgeoning hepatitis C market.<img width='1' height='1' src='http://telegraph.f.....

With betting industry taxes, the Government is gambling with economic growth
With the eurozone in crisis, 2012 is a difficult time to be a Europhile, but as the European Parliament has shown us, sometimes we do need Brussels to illuminate the areas where the murkiness of our own politics obscures the bleeding obvious.<img .....

City investors set up working group to boost shareholder-company relations
Some of the City's largest institutional investors have set up a working group aimed at improving engagement between shareholders and the companies they invest in.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1.....

Vale's megaship sails to China and into the record books
Longer than the Eiffel Tower, wide as a football pitch and with the capacity for more than 11,000 trucks, the first of a record-breaking fleet of giant ships has completed its maiden voyage to China.<img width='1' height='1' src='http://telegraph......

Detroit motor show looks to US as fog descends on Europe
Detroit motor show is the one Wall Street pays most attention to.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ba05542/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/12362.....

Iran stand-off could trigger oil price spike
Fears of a big rise as war of words between West and Iran intensifies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ba00eb6/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

KPMG to face client backlash over 'slow progress' on MF Global wind-down
Administrators winding down the failed broker MF Global will face questions about the slow progress of recovering funds at the first meeting with clients to be held on Monday in London.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

MPs to quiz oil giants BP, Shell and Cairn Energy on Arctic drilling safety
MPs are to question UK oil and gas companies on the safety of drilling in the Arctic, after fears that retreating ice will see a damaging rush to exploit billions of barrels of untapped reserves in the region.<img width='1' height='1' src='http://.....

London Stock Exchange chief Xavier Rolet joins business funding taskforce
Xavier Rolet, the chief executive of the London Stock Exchange, and Dame Helen Alexander, president of the CBI, are to join the Government's taskforce to propose new ways of funding business growth plans.<img width='1' height='1' src='http://teleg.....

HMV's technology sales boost will fail to offset overall slump
Music retailer HMV will announce that it has seen like-for-like sales slide about 8pc during the Christmas period when it updates the market on trading on Monday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b.....

Questor share tip: Love Bollywood with Eros
When publicity seekers like Lady Gaga say they want to be in a Bollywood film, you know that the Indian movie industry is now of global importance.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9d061b/mf.gif' .....

Questor share tip: Vodafone remains a core holding
Following an upgrade to buy by Goldman Sachs on Friday morning, Vodafone shares are back within a whisker of their pre-crisis high.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b9d061c/mf.gif' border='0'/>&.....

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: 10 power brokers to watch at the World Economic Forum
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/1ba0e7ec/mf.gif' border='0'/>.....