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Sunday 15 January 2012

UK Financial News on 2012-01-15

Tax officers in lightning walkout
Some 20,000 staff providing advice on tax returns will hold walkouts on Monday over "privatisation", the PCS union says......

Which? warning over smart meters
The scheme to install new energy meters in every home in the UK should be halted because of its cost, says consumer group Which?.....

France downplays rating downgrade
French PM Francois Fillon defends his government's economic policies following the decision by Standard and Poor's to downgrade the country's credit rating......

Barratts deal to save 1,100 jobs
Management at troubled shoe chain Barratts strike a deal to buy 89 shops......

Peacocks says debt talks ongoing
Clothing chain Peacocks refuses to comment on reports it faces possible administration but says talks on restructuring are continuing......

Miliband defends pay freeze move
Labour leader Ed Miliband defends his party's support for the government's public sector worker pay freeze, despite union criticism......

Tesco defends chief's share sale
Tesco defends a senior executive who sold more than 200,000 worth of shares before a profits warning took 5bn off the value of the business......

Tobacco display ban to be delayed
The Scottish government is forced to further delay its ban on displaying tobacco in big supermarkets because of a legal challenge......

China fury at US sanction on firm
China criticises US sanctions imposed on oil firm Zhuhai Zhenrong for trading with Iran as Premier Wen Jiabao visits the Gulf......

No deal at Nigeria strike talks
Talks between Nigeria's government and union leaders fail to reach a compromise, but oil workers will not strike immediately......

Bid to scrap fines for bin errors
Ministers are due to publish plans to scrap fines for incorrect disposal of household waste by residents of England......

Failed football scheme cost 6m
A now-defunct football coaching scheme operating that left hundreds of teenagers without qualifications cost taxpayers 6m, the BBC learns......

VIDEO: India's mobile app industry boom
Indian mobile phone applications are booming, with some predictions suggesting the India-specific market could be worth close to $4bn in the next few years......

VIDEO: UK 'can't stop Scotland using pound'
Scotland's First Minister said the UK could not stop an independent Scotland using sterling for its currency as he questioned the qualifications of chancellor George Osborne......

VIDEO: Your Money: Are energy price cuts enough?
In this week's Your Money, Declan Curry compares the energy companies' round of recent price cuts with the rises they introduced last autumn......

VIDEO: Scotland using sterling 'ludicrous'
Former Chancellor Alistair Darling said an independent Scotland would be in an "absolutely ludicrous position" if it took sterling as its currency.....

VIDEO: Indians want end to high inflation
As India's government prepares to release financial figures for December, many economists in the country are hoping for a fall in the overall rate of inflation......

VIDEO: Would Scotland take on some UK debts?
The Scottish independence issue raises questions about the nature and credibility of a separate state, including what currency to use......

VIDEO: Europe attacks downgrade decision
Europe's top economic official has criticised the decision by Standard and Poor's to downgrade the credit ratings of nine eurozone countries, including stripping France of its AAA rating......

Boost for City's China trade
Robert Peston: The City is set to become a key centre for trading China's currency.....

Who'll take the high road? Scotland's economy after independence
What would be the economic impact of independence?.....

Fast internet access 'essential'
Reliable access to the internet is a "basic essential" for Highlands.....

Smart TV dust settles after CES
Are connected TVs ready for prime time?.....

Iran oil divides Asian economies
Iran oil sanctions divide Asian economies.....

Economic 'winter' threatens Tunisia's spring
How economic woes are threatening Tunisia's revolution.....

Pet insurance: Perils of inadequate cover
The perils of inadequate cover.....

Hungarian right demands EU exit
Jan 15 - Thousands of far-right activists rally against the EU in the Hungarian capital Budapest, calling for Hungary's exit from the bloc. Rough Cut (no reporter narration)......

S&P downgrades nine euro zone nations
Jan. 14 - Countries react to "Black Friday" announcement of nine credit rating downgrades in euro zone. Jessica Gray reports......

S&P confirms Europe downgrades
Jan. 13 - Standard and Poor's confirms downgrade of several euro zone countries. Jill Bennett reports......

S&P cuts ratings on nine euro zone nations
Jan. 13 - Standard & Poor's lowers long-term ratings on 9 eurozone sovereigns including France, Italy, Spain and Portugal. S&P affirmed its "stable" rating on Germany......

Winners and losers from S&P Euro sovereign downgrade
Jan. 13 - S&P downgraded nine Euro zone sovereign ratings and affirmed seven others. Insider takes a look at possible winners and losers from the downgrade......

Clegg plans a 'John Lewis economy'
Companies will be given tax breaks if they offer shares to their employees under plans by Nick Clegg to create a "John Lewis economy".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd76899/mf.gif' border='0'/&g.....

Threat to oil sector from tough regulations and green policies
Regulatory pressures and 'green' policies are threatening the future of Britain's eight remaining oil refineries and could result in further closures, the industry has warned the Government.<img width='1' height='1' src='http://telegraph.feedsport.....

Bonus cuts hit holiday homes
Austerity has finally arrived in the City - of a sort.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd7380b/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/123995406058/u/3.....

Markets face fallout from eurozone division
Global markets are set for a rocky day of trading after German leader Angela Merkel warned that it could take many months to rebuild confidence in the eurozone and schisms over financing the bloc's bail-out fund re-emerged.<img width='1' height='1.....

Traders brace for eurozone crisis fallout
Global markets are set for a rocky day of trading after German leader Angela Merkel warned that it could take many months to rebuild confidence in the eurozone and schisms over financing the bloc's bail-out fund re-emerged.<img width='1' height='1.....

Eurozone banks' ECB borrowing set to soar
Eurozone lenders' borrowing is expected to more than double to over 1 trillion next month when struggling banks will be handed another lifeline by European authorities.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Pensions lifeboat head Lady Judge defies critics
Lady Judge has been described as the "best connected woman in Britain".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd7309d/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

Typhon fights back against pirates
The attack was launched against the ship at first light, just as the sun was rising off the Somali port of Mogadishu. Six heavily armed pirates opening fire with light calibre weapons before attempting to board the vessel.<img width='1' height='1'.....

John Timpson: Make your own decisions and stop worrying about rival boardrooms
The management column: Straight-talking, common sense from the front line with John Timpson.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd730a2/mf.gif' border='0'/><br/><br/><a href="http:/.....

Civil servants fear for jobs as Ministry of Defence broken up
The influx of hundreds of private sector managers is causing alarm among civil servants facing the prospect of redundancy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd730a3/mf.gif' border='0'/><br/>.....

Court case could set forced retirement precedent
A long-awaited court case could make it possible for employers to justify retiring staff at a certain age.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd730a5/mf.gif' border='0'/><br/><br/><.....

The UK needs politics and business to work together
Politics and business are the great and eternal divide. They are the two estates of modern life, glaring at each other across a seemingly unbridgeable chasm, with mutual antipathy and envy. And never sadly has that chasm seemed wider than today.<i.....

British manufacturing needs more than a 'one-year plan'
Britain's ambition to rebuild its manufacturing sector must not be just a "one-year, two-year, five-year, ten-year" plan it it is to succeed, according to Ian Robertson, considered the most powerful UK executive in the global car industry.<img wid.....

RBS pushes Peacocks to the brink of administration
The Royal Bank of Scotland has emerged as the main lender refusing to save Peacocks, the struggling retailer, putting 10,000 jobs at risk.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd6ed80/mf.gif' border='0.....

China can grow 8pc annually for two decades
China can maintain annual growth of 8pc for the next two decades, the World Bank has said.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd74470/mf.gif' border='0'/>.....

World Bank: China can grow 8pc annually for two decades
China can maintain annual growth of 8pc for the next two decades, the World Bank has said, raising hopes that the powerhouse economy will help lead the global economy back to growth.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Fast food becomes the UK's meal of choice
Fast food, for the first time ever, now makes up more than half of all the meals eaten outside of the home in Britain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd6ed86/mf.gif' border='0'/><br/><.....

Scottish independence vote could hit finance industry
Scotland's business leaders have warned that "uncertainty" caused by a potential vote on the country's independence could prove damaging to its financial services industry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Commodities: High metal prices can put lives in danger
As commodity prices rise, metal theft increases. It's now time for scrap dealers to ditch their cash-in-hand culture.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd6e720/mf.gif' border='0'/><br/><.....

Zenos confirms closure of apprenticeship scheme
The training firm at the centre of controversy over its apprenticeship scheme has confirmed it has ditched plans for "large intakes" of students this year after the Government asked it to overhaul the taxpayer-backed course.<img width='1' height='.....

AstraZeneca creates research team to pursue partnerships
AstraZeneca has established a new research team tasked with pursuing partnership deals as the drug maker strives to bolster its pipeline of new medicines at a lower cost.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Wall Street lenders to reveal sharp decline in profits
Wall Street banks are likely to face pressure from their beleaguered shareholders to keep a tighter control on pay this year, as they prepare to reveal a sharp decline in profits for 2011.<img width='1' height='1' src='http://telegraph.feedsportal.....

Will printing more money solve our ills?
A producer on BBC Newsnight once pleaded with me not to use the term Quantitative Easing (QE) in a television interview.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd6e726/mf.gif' border='0'/><br/>&.....

Murdoch uses Twitter to attack Google over internet piracy
Rupert Murdoch has launched a scathing attack on Google through his Twitter account.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd64704/mf.gif' border='0'/><br/><br/><a href="http://da.feed.....

The Week Ahead: January 16 to January 20
This will be the final week of retailers reporting their Christmas trading statements, as well as trading updates from Bovis Homes and JD Wetherspoon.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1bd61ebe/mf.gi.....