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Tuesday 10 January 2012

UK Financial News on 2012-01-10

China initiative seeks fund managers of tomorrow
Dutch seed capital provider IMQubator and Hong Kong-based Synergy Fund Management have joined forces to find future hedge fund managers in China.....

Investors unite to boost their power in the boardroom
Some of the UK's largest investors are banding together to discuss how to make more impact when engaging with companies over governance issues.....

Anger erupts over vague pension reforms
The pensions industry has condemned as vague and unhelpful a consultation exercise from the European Commission designed to introduce rules on solvency.....

Pulled initial public offerings hit record levels
Chief executives and investment bankers were forced to cancel or postpone a record volume of initial public offerings last yea.....

JP Morgan fund hits rock bottom
JP Morgan's £2bn global natural resources fund finished 2011 as the worst-performing specialist fund of its type.....

Dollar disappointment for European SSAs
Debt capital markets bankers are concerned that months of volatility in the European sovereign sector have closed the dollar market to European sovereign, supranational and agency issuers.....

Ex-Eton Park partner plans fund launch
A former partner at Eton Park International, the London arm of $14bn hedge fund firm Eton Park Capital Management, is preparing to launch a new hedge fund.....

Food drives M&S Christmas sales
Marks and Spencer reports a modest rise in UK sales over the Christmas period, thanks in part to stronger demand for its food......

Unions to continue pension talks
The Unison and GMB unions are to continue negotiating with the government over changes to the local authority and NHS pension schemes......

Kodak stock rises 46% on new plan
Troubled photography firm Eastman Kodak unveils a new plan to transform the company into a digital player, sending its shares soaring......

Revenue warning hits Flybe shares
Shares in budget airline Flybe fall more than 20% after it says it is unlikely to meet revenue targets for this year......

HS2 go-ahead sees mixed reaction
Plans for a 33bn high-speed rail network - HS2 - receive a mixed reaction as they are approved by the government......

Ex-Olympus boss urges board move
Sacked Olympus chief Michael Woodford describes the Japanese firm's decision to sue executives involved in an accounting scandal as "deeply inadequate"......

Greece close to bond holder deal
Greece nears a deal with private sector bond holders on a debt swap that should pave the way for a second bailout package......

Italy 'likely' to be downgraded
There is a "significant" chance that Italy will have its credit rating downgraded this month, an executive at the ratings agency Fitch says......

Google profits from illegal ads
Google is profiting from illegal ads - including London 2012 Olympics ticket resellers - generated by its flagship advertising system, the BBC finds......

UK recession 'not yet inevitable'
The UK economy will remain weak for the foreseeable future, but recession is not inevitable, according to a survey by the British Chambers of Commerce......

Websites flouting EU credit rules
A sweep of websites across the EU that offer credit cards, loans and finance finds that 70% were flouting the rules......

Housing market 'to stay subdued'
There is no sign of the UK property market picking up in the coming months, the Royal Institution of Chartered Surveyors says......

Swatch eyes further sales growth
The world's largest watchmaker, Swatch Group, eyes sales growth of between 5% and 10% in 2012 after reporting record sales in 2011......

Record pension deficit extended
The collective deficit of the UK's private sector final-salary pension schemes has risen to another record level, figures show......

Non-EU migration 'hurts jobless'
The government's official advisers on migration say there is a link between immigration from outside the EU and job losses among British workers......

Child poverty hotspots revealed
Action is needed to tackle "shameful" levels of child poverty in parts of Scotland, campaigners urge......

New cross-channel ferry service
Two ferry companies announce a joint venture to run a service between Dover and Calais, a day after SeaFrance was put into liquidation......

Apple boss pay deal worth $378m
Apple chief executive Tim Cook is awarded a pay package worth $378m (244m) in 2011, most of it to be paid in shares over the coming years......

Samsung unveils 'future-proof' TV
A "smart" internet-connected television that has the ability to have its hardware upgraded every year has been unveiled by Samsung......

Council staff reject pension plan
Leaders of the Unite trade union have rejected the suggested changes to the local government pension scheme, outlined in December......

Fraud levels 'increased in 2011'
Reported fraud in the UK broke the 2bn barrier in 2011 but this is dwarfed by the levels under the radar, an accountancy group says......

Export growth in China declines
Growth in China's exports and imports slows in December because of sluggish demand from the US and Europe......

Rise in French industrial output
French industrial output rose by a greater-then-expected 1.1% in November, lifted by production of electronic equipment and refinery output......

New loans in China beat forecast
China's lending and money supply grow at a faster pace than expected as the country relaxes its credit restrictions......

Philips results 'to disappoint'
Dutch group Philips Electronics says that weak demand in Europe has hit its fourth quarter results......

US carmakers see boost from China
US carmarkers General Motors and Ford report record sales in China for 2011, despite a slowdown in the market in that country......

Co-operatives' 1bn economy boost
Co-operatives are contributing more than 1bn a year to the Welsh economy, according to a new report......

Shares in Rangers are suspended
Shares in Rangers Football Club are suspended from trading on the Plus stock exchange for failing to file accounts on time......

Darlington could fold by weekend
Darlington are likely to fold this week if no buyer is found, according to joint administrator Harvey Madden......

2012 resale site remains offline
The London 2012 website reopens for unsold Olympic football and Paralympic purchases but remains closed for resales of unwanted tickets......

VIDEO: Non-EU migration 'affects jobs'
The government's official advisers on migration say there is a link between immigration from outside the European Union and job losses among UK workers......

VIDEO: Tory MP's plan to rescue capitalism
Jesse Norman from the Conservative Free Enterprise Group who coined the "crony capitalism" phrase explained how it went wrong......

VIDEO: Government approves high-speed rail line
A controversial new high-speed rail line between London and Birmingham has been approved by the government......

VIDEO: Is it worth collecting airmiles?
Following the recent overhaul of the BA Airmiles scheme Fiona Foster reports on whether frequent flyer programmes still offer value to travellers......

VIDEO: Exporting is 'key' to growth
The UK economy will remain weak for the foreseeable future, but recession is not inevitable, according to the latest quarterly survey by the British Chambers of Commerce (BCC)......

VIDEO: 20% of UK 'struggles' to manage debt
Research from the Money Advice Trust has shown that the number of people getting help from free debt advice agencies increased last year to 1.54 million people, compared to 1.4 million in 2010......

VIDEO: US car giants see sales rise
The Detroit manufacturers saw sales jump by 10% last year. Chrysler, the smallest of the big three was considered particularly doomed in 2009 when it filed for bankruptcy.....

AUDIO: The future of television
Rory Cellan-Jones reports from the Consumer Electronics Show in Las Vegas where TV and internet interactivity is the star of the show......

Murky politics behind fall of Swiss banker
Murky politics behind central banker's resignation.....

HS2 cost and benefit debate not over
Would a fast train network between London and Birmingham benefit the UK economy?.....

Ford faces a succession dilemma
Ford chief's success poses succession dilemma for firm.....

Are you getting a divorce?
BBC News wants to hear from you.....

The emotional rollercoaster of living abroad
The emotional reality of living in another country.....

Authors going it alone and online
The self-publishers forcing traditionalists to take note.....

U.S. Day Ahead: Watch Fed's Beige Book for hiring signs
Correspondent Pedro Da Costa says the Fed's Beige Book might indicate the first signs of hiring after a strong Jobs Report. But he adds it may also offer clues about a potential slowdown......

Sageworks CEO on "The Year in Review"
Jan. 10 - Brian Hamilton, CEO of Sageworks, comments on "The Year in Review" in small business and the private sector......

Kicking the tires of the hottest cars at Detroit Auto Show
deputy editor-in-chief and car enthusiast Paul Ingrassia takes a tour of the standout models in the Detroit Auto showroom......

Ford's virtual car race spins Detroit Auto Show
Jan. 10 - In Detroit, so many cars are on display but none to drive. Solution: Ford's virtual high speed race with driver Ken Block......

Optimism gives Wall St. early boost
Jan 10 - Summary of business headlines: Stocks up on China and earnings optimism; Tiffany shares lose luster; Microsoft says Kinect sales hit 18 million. Bobbi Rebell reports......

Investors more bullish as euro zone bank jitters subside
Jan. 10 - Europe Day Ahead: Markets look to the Federal Reserve's "beige book" update on the U.S. economy.....

Siemens CFO: Market turmoil to rattle profits in 2012
Jan. 10 - Siemens CFO Joe Kaeser says the European industrial giant will have a harder time hitting its 2012 profit targets due to market turmoil. He also cites challenges in the energy and healthcare sectors......

New Year holiday bargains
Jan.10 - Over a million people are expected to book their summer holidays in January as travel companies compete for customers by offering substantial discounts for early bookings. Hayley Platt reports.....

Income funds to gain ground in 2012: Lipper's Roseen
Jan. 10 - Lipper's Director of Research Services Tom Roseen on trends in the fund industry in 2012 and how various categories fared in 2011......

China trade growth at 2-year low
Jan.10 - China's exports and imports grew at their slowest pace in more than two years in December as foreign and domestic demand ebbed, bolstering expectations of more policy action from Beijing to support the world's number two economy. Hayley Plat.....

Reuters Breakingviews: Nomura's latest departure is bad news
Jan. 10 - Jesse Bhattal's resignation signals a retreat for Japanese investment bank Nomura. Hungary's choice - disaster or surrender; and why Taiwanese voters must focus on growth rather than China......

Reuters Today: Top stories and analysis for Tuesday morning
including slow China trade growth, job cuts at Bank of America-Merrill Lynch and SocGen forecasting a drop in revenue......

'Drink Bhopal water' dare
Jan 10 - UK Olympic chiefs are challenged to drink water from the Indian city of Bhopal in a protest against sponsorship by Dow Chemical. Paul Chapman reports......

A $15 million makeover
BuzzFeed wants to go from silly to serious. Will $15.5 million from venture capital firms, an old school media house and a japanese telecom company launch BuzzFeed into journalism legitimacy? Anthony DeRosa visits BuzzFeed's NYC headquarters to find .....

China toy makers wind up for tough year
Jan. 10 - China made toys like Hello Kitty dolls and Transformers so far seem immune to slowing consumer demand in the West, but rising labor costs and a stronger yuan may put a dent in the fun and games. Jane Lanhee Lee reports......

Detroit Autoshow kicks off with high hopes for U.S. car makers
Jan. 9 - Reinvigorated U.S. auto companies showed off hybrids and sleek designs at the 2012 Detroit auto show. Deborah Gembara reports......

Olympus sues over half its directors, M&A interest rises
Jan. 10 - Olympus sues former chairman for $47 million, and 18 other executives in $215 million lawsuit. Affected directors will step down only in March or April, leaving the firm even more vulnerable to a takeover. Arnold Gay reports......

The buzz on the top tech show
Jan. 9 - Near record attendance at CES, the world's biggest tech show, but the show's future is questioned as big companies like Microsoft pull away. Bobbi Rebell reports......

Trading at Noon: Resources and financials lead bull charge
Jan. 10 - Mining stocks lift European shares after forecast-beating results from the U.S. aluminium producer Alcoa......

Alcoa posts positive outlook
Jan. 9 - Summary of business headlines: Alcoa forecasts 7 percent growth in global aluminum demand; Stocks modestly higher; Auto makers show off new vehicles in Detroit; Consumer credit jumps; Banks drag down European shares. Bobbi Rebell reports......

Automakers ramp up competition
Jan. 9 - The U.S. automakers took market share for the first time in 23 years, but face tougher competition in 2012 as Japanese rivals rebound and Hyundai and VW gather steam. Jill Bennett reports......

New York gyms spur MMA business, attract fighters
Jan. 9 - Mixed marital arts fights are not legal in New York, but training and equipping for these contests are not unlawful, spawning a growing business in the Big Apple and attracting fighters......

U.S. Day Ahead: Geithner's China trip may yield no oil block
Global Oil Forum Editor David Sheppard says China is unlikely to give up Persian crude despite Treasury Secretary Geithner heading to Beijing to discuss Iranian sanctions......

GM's moment to shine
Jan. 9 - The number one U.S. automaker rides into 2012 with its first increase in market share since 2002. Now it's hoping the new Cadillac ATS will help it boost share in the luxury market - just like it has successfully done with the compact car ma.....

Romney's Bain Capital comes under fire
Washington correspondent Andy Sullivan walks through Newt Gingrich's attacks on Bain Capital, co-founded by rival Mitt Romney, and its investment in a bankrupt Kansas City steel mill......

Tumblr Joins Google, Microsoft as NY Tech Meetup Sponsor
One of New York&s hottest start-ups, Tumblr, will join the likes of Google and Microsoft as it becomes a sponsor for New York Tech Meetup, the place where Tumblr fostered its growth in the early days of the company&s existence back in 2007......

Dog Rescued in Gulf of Mexico After Owner Killed by Drunk Driver [VIDEO]
A man kayaking in the Gulf of Mexico rescued a dog who was swimming in the water after its owner was killed in a car accident......

Undercover Boss Season 3 Sneak Peak: Premiere Shares the Softer Side of Diamond Resorts Internationals Stephen Cloobeck
How do you disguise yourself when you&re a bodybuilder boss, with your picture in every hotel of your far-flung company? Answer: A long-haired wig and contacts; guess your employees aren&t paying that much attention to the boss&s picture......

FIFA Ballon d'Or 2011 Soccer Awards Ceremony: PHOTOS
Lionel Messi of Argentina was awarded the FIFA Ballon d&Or 2011 trophies for men during the FIFA Ballon d&Or 2011 soccer awards ceremony at the Kongresshaus in Zurich, Switzerland, Jan.9 making him the first men to win the honor three times in a row......

Jack Jablonski Gains Support From Hockey World, Phone Call from Wayne Gretzky
Jack Jablonski, the 16-year-old high school hockey player who severely injured his spinal cord during a game on Dec. 30, has received a shower of support and visits by famous hockey stars since his traumatic accident. Jablonski has been named Perani&.....

Indonesia lifts tsunami warning after Sumatra quake
Indonesia lifted a tsunami warning issued on Wednesday after a 7.3 magnitude quake struck off northern Sumatra......

Struggling Kodak film group split up, shares soar
Eastman Kodak Co announced a new business structure on Tuesday that divides its film group into its two other business units as the once-iconic photography company tries to refocus as a digital company to help fend off financial difficulties......

MetLife Quitting Home Mortgage Origination Business, Seeks to Limit Regulatory Oversight
MetLife Inc. (MET), the largest U.S. life insurer, said Tuesday that it&s shutting down the business of originating residential mortgages, three months after the company said it would seek a buyer for the unit. Goldman Sachs upgraded MetLife to 'buy'.....

Gorilla Glass 2 Debuts at CES: Top 10 Smartphones With Gorilla Glass [PHOTOS]
Corning announced their new all-purpose scratch resistant glass for mobile devices, Gorilla Glass 2. It&s thinner and lighter than the original, so by the end of the year we could have some lighter and thinner devices. Corning said Gorilla Glass 2 is.....

Extinct Galapagos Tortoises Reappears After 150 Years
Researchers have discovered genetic traces of a giant tortoise species believed extinct for 150 years in living hybrids on the Galapagos island of Isabela......

White House Rebuts Rick Santorum's Claim that He, Obama Agree on Marriage Equality [VIDEO]
White House Press Secretary Jay Carney curtly dismissed the idea that President Obama and Republican presidential nominee, who is well known for his inflammatory anti-LGBT rhetoric, share the same position on marriage equality......

Michael Williams, CEO of Fannie Mae, Resigns
Michael Williams, CEO of mortgage giant Fannie Mae, is resigning, the company announced on Tuesday......

Parents Plead Guilty in Neglect of Son, Willie Robinson, 8, in Fight Against Curable Cancer
A Cleveland couple, Monica Hussing and William Robinson Sr., pleaded guilty to attempted involuntary manslaughter on Monday, after failing to seek medical care for their ill son, William 'Willie' Robinson Jr., 8, who suffered from a common, treatable.....

Katy Perry's Dad Apologizes: 'I Am Not an Anti-Semite'
Katy Perry&s dad has apologized for an anti-Semitic rant he made last week while preaching at an Ohio church......

Golden Wall of Worry
It is often said that gold climbs the wall of worry......

New Jersey Adopts One-Year Fracking Ban
New Jersey lawmakers have accepted a one-year ban on the controversial drilling and natural gas extraction technique known as hydraulic fracturing......

CES 2012: Powerbag is Perfect for Electronics Lover on the Go
We&ve all been in that situation when you are on the go and your treasured electronic - phone, iPad, computer - dies in the most inopportune time......

Kodak sues Apple, HTC over digital image patents
The struggling Eastman Kodak Co on Tuesday sued Apple Inc, whose market value is more than 2,400 times greater, accusing it of infringing four patents related to digital camera images......

CES 2012: Parrot's AR Drone 2.0 Lets You Record Flights, Heights in HD
At CES 2012 in Las Vegas, French company Parrot debuted its AR Drone 2.0, which can fly up to 165 feet in the air and record HD videos. The drone is completely controlled with iOS and Android devices, which let you see what the drone sees......

Dark Matter: Mapping the Cosmos Strangest Substance
Astronomers have released a map showing dark matter and galaxies billions of light years across......

Ron Paul 2012: Wall Street Wont Give me Money
Ron Paul&s running the 2012 Republican nomination race to win it (or at least collect lots of delegates); his campaign has a strong national strategy that goes beyond just Iowa and New Hampshire......

The 'Side Effects' of Blake Lively
Blake Lively is said to star alongside Jude Law and Channing Tatum in movie thats said to bring viewers a hell of Side Effects......

Starbucks lighter "Blonde" roasts debut in U.S.
Starbucks Corp <SBUX.O> is expanding beyond its dark coffee roots by offering lighter 'Blonde' roasts in cafes and supermarkets as of Tuesday......

USD/CAD: Entry at 17:00 EST - Buy Signal
Date: 2012/01/10MACD Crossover at 16:00 AM EST*Confirmation at 17:00 AM EST*Potential Signal BuyAction Market Order openedStop Loss 20 Pips (2 $)Take Profit 20 Pips (2 $)Strength medium......

Obama Links Economy to Environmental Policy in EPA Pep Talk
President Barack Obama Tuesday delivered remarks to the Environmental Protection Agency&s staff......

Justin Bieber 18th Birthday Countdown: I Want to be More Than a 'Teen Sensation'
'There are people who try to grow up too fast - they&re 18, so they&re like, I&m not a kid anymore. People need to know I&m not a kid anymore. But at the end of the day, I&m not completely grown up,' Bieber told 'V' magazine......

Pegatron Fills iPad 3 Orders for March, iPad 4 in October, Report
It seems rumors for an iPad 3 March release date are on track, after a new report revealed that Pegatron Technology has started to fill its iPad 3 orders and started to prepare for further orders of the iPad 4, allegedly set for an October release......

Coachella 2012: What to Wear to the Festival This Year [PHOTOS]
Coachella is not only a music festival, it is a fashion show. Here are some ideas on what to wear this year......

'S--t Girls Say' Parodies: Time to Move On? [VIDEO]
Vegans, yogis and actors have joined the parody train......

Past Times in last-minute rescue talks - source
Past Times, on the brink of collapse, was in talks with a potential rescuer Tuesday, a source close to the company said......

The missing link in the high-speed rail argument is that I'd rather fly to China
At a time when the economy needs a kick start, the Government's announcement to press ahead with a high speed rail network is positive.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb32d8b/mf.gif' border='0'/&.....

Codelco's gambit will facilitate a deal with Anglo American
Anglo American's row with Chilean miner Codelco over ownership of a disputed copper mine is becoming a real headache for the FTSE 100 mining giant.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb32d8c/mf.gif' .....

UK banks left vulnerable by Bank of England and politicians
City analysts have criticised the Bank of England's handling of the Britain's banking sector and warned that Bank and Government policies have left major lenders vulnerable if the eurozone debt crisis spreads to the UK.<img width='1' height='1' sr.....

Bankers are the victims of their own inflated pay
The increase in basic salaries has made more City workers open to job cuts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb32d8e/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.c.....

David Ross wins control of Cosalt
David Ross has won control of beleaguered oil services group Cosalt but failed to gain the backing of a significant number of small shareholders for a full buy-out of the company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32.....

Chile copper giant Codelco sues Anglo American in fight over mine
Codelco, Chile's state-backed copper company, is suing rival Anglo American in an escalation of the two companies' battle over one of Chile's most valuable mines.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b.....

Lion Capital buys in Findus debt to stave off restructuring
Private equity firm Lion Capital is facing another blow to one of its companies, as it buys junior debt in Findus to stave off a forced restructuring by lenders.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb.....

Lion Capital's Lyndon Lea defends his performance
Lyndon Lea insists he is not a playboy. Stories of parties with sushi served on half-naked women have been blown out of proportion, says Lion Capital's 43-year-old, polo-playing founder.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

FSA under fire for no-show at MF Global funds meeting
Clients of failed broker MF Global have rounded on the City regulator for failing to attend a key meeting about the return of an estimated $1.2bn (775m) in funds.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1b.....

Debt crisis: as it happened, January 10, 2012
Stock markets rise as ratings agency Fitch says it does not plan to remove France's AAA credit rating unless there are "important shocks" while it hints at a downgrade for Italy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

Mafia is Italy's biggest business
It was once confined to the sun-baked, sleepy south of Italy but the mafia is now the country's biggest business enterprise, with an annual turnover of 140bn (116bn), according to an authoritative report.<img width='1' height='1' src='http://teleg.....

Gulf Keystone soars on renewed bid speculation
Fresh speculation of a takeover bid for Gulf Keystone Petroleum saw the Kurdistan-focused oil and gas explorer's shares soar to a record high of 266.75p.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb25eaa/mf.....

Marks & Spencer's Christmas sales rescued by food
Marc Bolland, the chief executive of Marks & Spencer, admitted sales of womenswear fell, as the company posted a mixed set of Christmas trading figures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb25a89.....

Fitch assurance on France's AAA rating helps cheer markets
European markets were cheered on Tuesday by an absence of terrible news and an assurance by Fitch that France's AAA credit rating was unlikely to be downgraded in 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Microsoft chief Ballmer says Kinect sales gathers pace
Microsoft has sold more than 18m of its Kinect sensing devices in the year since it launched - nearly half of which shipped in the last six weeks, chief executive Steve Ballmer has claimed.<img width='1' height='1' src='http://telegraph.feedsporta.....

Debt crisis: live
Fitch warns that Italy's borrowing costs are ''unsustainable'' in the long term but that it does not plan to remove France's AAA credit rating unless there are "important shocks", while European markets make strong gains.<img width='1' height='1' .....

Arbuthnot takes 8m loss from investment banking unit
Arbuthnot Banking Group will be forced to absorb 8m in trading losses from its investment banking business in its full-year results, after failing to secure regulatory approval for its sale by the end of 2011.<img width='1' height='1' src='http://.....

Festive trading worries weigh on Tesco
With a trolley-load of retailers updating the City on their critical Christmas trading, dealers were deliberating over which stocks to add to their shopping lists.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1.....

Sean Quinn's UK bankruptcy overturned after Irish complaint
Sean Quinn, formerly Ireland's richest man, has had his bankruptcy overturned after Anglo Irish Bank challenged the tycoon's right to use British courts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb1ca18/mf.....

Debenhams says Christmas discounts did not hurt profit
Debenhams has become the latest retailer to confound doom-mongers by saying that its profits were undamaged by discounting at Christmas.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb1d8bd/mf.gif' border='0'/.....

FTSE 100: Miners march ahead, as blue-chips finish up 1.5pc
Miners hauled London's benchmark index back into positive territory on Tuesday, as Wall Street strengthened.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb1d8be/mf.gif' border='0'/><br/><br/>&l.....

Detroit Motor Show 2012: Fiat and Chrysler boss Marchionne warns euro leaders are 'playing with fire'
Fiat and Chrysler chief executive Sergio Marchionne has warned European leaders that they are "playing with fire" over a crisis that's left the car industry depressed about the region.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Olympus sues 19 executives for 30m
Disgraced technology group Olympus is suing 19 former and current executives for up to 3.6bn yen (30m), as it tries to recover from one of Japan's worst ever corporate scandals.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Game shares slump on profits warning, loan breach fears
Game Group shares fell sharply after the troubled video games retailer warned that a slump in sales over Christmas could see it breach its banking convenants.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb10e.....

Fewer, but better lifts Majestic Wine sales
Majestic Wine raised a glass to a solid Christmas as consumers treated themselves to top quality bottles despite the squeeze on incomes.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bb0c8c9/mf.gif' border='0'/.....