Search This Blog

Friday 17 February 2012

UK Financial News on 2012-02-17

Surprise jump in UK retail sales
UK retail sales rose by a stronger-than-expected 0.9% in January, according to the latest figures from the Office for National Statistics......

UK and France sign nuclear deal
The UK signs a deal with France to strengthen co-operation on civil nuclear energy as a Franco-British summit is held in Paris......

Diesel price 'at new record high'
The price of diesel has hit a new high, at 143.05 pence a litre, figures suggest......

Fake bonds worth trillions seized
Italian prosecutors have arrested eight people and seized $6 trillion in fake bonds found in a Swiss warehouse......

Facebook hacking student jailed
A software development student from York who hacked into Facebook is jailed for eight months......

US Congress backs payroll tax cut
The Republican-led US House of Representatives passes a bill to renew the payroll tax cut, ending months of partisan debate on the issue......

Iceland debt 'now safe to invest'
Iceland is safe to invest in again, according to Fitch, which upgraded its credit rating three years after its economy spectacularly collapsed......

Murdoch to launch Sun on Sunday
Rupert Murdoch is to launch new weekend tabloid the Sun on Sunday "very soon" and lifts all staff suspensions......

US prices climb 0.2% in January
US consumer prices rose by 0.2% in January, driven by rising costs of clothes and petrol, the Labor Department says......

Anglo American sees robust demand
Mining giant Anglo American expects demand for commodities to remain "robust", after reporting record operating profits in 2011......

Virgin makes air merger complaint
Passengers face higher fares and reduced services if BA takes over rivals BMI, Virgin Atlantic claims......

Japan's cabinet approves tax rise
The Japanese cabinet approves a plan to double sales taxes in an attempt to control the soaring costs of public debts......

Bowleven boosted by bid prospect
Oil and gas explorer Bowleven's share price soars on news of a possible takeover bid by Dubai-based Dragon Oil......

Portsmouth given 10-point penalty
Portsmouth are docked 10 points after entering administration for the second time in three seasons......

Rent costs 'increase in January'
The cost of renting a home in England and Wales increased in January, a survey indicates......

Asian shares rise on US jobs data
Asian markets rise as US shares hit a near four-year high after the world's biggest economy reported better-than-expected jobs data......

Advertising boosts Baidu profits
China's largest search engine, Baidu, reports a 77% surge in profit between October to December as advertising revenue grows......

Vatican to lose tax-exempt status
Italy's Catholic Church faces an annual multi-million euro bill over government plans to strip it of its tax-exempt status......

Nazi fakes 'hit pound confidence'
Nazi counterfeiting "destroyed" confidence in British bank notes in Europe by the end of World War II, according to MI5......

Bailiff industry changes proposed
Changes to laws governing bailiffs in England and Wales, such as the creation of a code of conduct, are being proposed by the Ministry of Justice......

Change or be changed, banks told
The Office of Fair Trading has told banks they must do better for personal account customers or face an enforced shake-up......

Warning over cashless payments
Criminals could make fake versions of smartphone instant payment systems to steal money, warn internet experts......

US home building up in January
US new home building rose 1.5% in January to an annualised rate of 699,000, the US Commerce Department says......

Spain sees its economy contract
Spain's economy shrinks for the first time in two years, increasing fears the country could be heading for a recession......

Billabong surges on takeover bid
Billabong shares surge more than 60% as the company announces a restructuring plan after a takeover bid from TPG Capital......

Apple wins 'slide-to-unlock' case
Apple has won a "significant" patent dispute over Motorola Mobility surrounding a "slide-to-unlock" feature on smartphones......

Rangers' 'invisible' 24m probed
The administrators running Rangers say they do not know the whereabouts of 24m which was lent to the club......

Whyte: 'I have nothing to fear'
Rangers chairman Craig Whyte says "every penny" that has come in and gone out of the club has been "properly accounted for"......

Spot-bet scam cricketer is jailed
A former Essex county cricketer has been jailed for four months after admitting a corruption charge relating to a 40-over game against Durham......

Call for 2012 ticket transparency
Unnecessary secrecy risks jeopardising public confidence in the ticketing arrangements for the 2012 Olympics, warns the London Assembly......

VIDEO: Retailer pledges industry help
As London Fashion Week gets under way, Topshop boss Sir Philip Green has pledged to continue helping more young people get ahead in the industry......

VIDEO: PM on nuclear job creation
David Cameron has signed an agreement on nuclear energy that will pave the way for new jobs in the UK......

VIDEO: 'We need a cap on charity shops'
UK retail sales rose 0.9% in January compared with December, but one retailer in Rochdale outlines the problems he still faces......

VIDEO: My Bottom Line: Kelly Goss
Kelly Goss is the founder of fashion label Rock 'n' Needle and says setting the right price for your product is crucial for success......

AUDIO: How much is Scottish oil worth?
John Busby, a retired engineer who has studied the future of oil, and Stewart Hosie, treasury spokesman for the SNP, discuss the future of Scottish oil revenue......

AUDIO: Has Poundland affected the high street?
Some high street shops have blamed Poundland for taking their customers away. However, its chief executive told BBC Radio 5 live Breakfast that amid tough economic times, shops need to respond to what people want......

VIDEO: House prices fall again
A report says house prices in the UK have fallen for the 20th month in a row......

VIDEO: Portsmouth FC in administration
Portsmouth Football Club has gone into administration for the second time in three seasons......

Greeks losing belief in the state
Struggling Greeks losing belief in the state.....

The new world of work
Microsoft says the future of work is based on trust.....

Drone-makers target Asia for growth
Demand for unmanned spy planes is booming in Asia.....

How is Africa coping with the euro crisis?
How is Africa coping with the euro crisis?.....

Small firms: How to win customers
Your latest start-up questions answered by our panel of experts.....

Chinese and American leaders stick to script
Chinese and American leaders stick to script.....

British and French leaders reconcile
Feb 17 - France and Britain agree to jointly work to develop next-generation unmanned drones as part of their military cooperation as their leaders reconciled after an acrimonious clash over Europe last year. Matt Cowan reoprts......

Italy police seize $6 trillion of fake U.S. T-bonds
Feb. 17 - Italian police have seized fake U.S. Treasury bonds worth more than a third of U.S. national debt that were held in three large trunks. Deborah Lutterbeck reports......

Clash of the Athenians
Feb 17 - A scuffle breaks out between student protesters in Athens and police as demonstrators voice outrage at government austerity measures. Conway G. Gittens reports......

Trading at Noon: Wall St. up on Greece, but gains limited
Feb. 17 - U.S. stocks are up slightly, but investors are wary of making big bets heading into a holiday weekend when Greece's bailout plan is expected to be approved......

Italy police seize $6 trillion of fake U.S. T-bonds
Feb. 17 - Italian police have seized fake U.S. Treasury bonds worth more than a third of U.S. national debt from a Swiss company where they were held in three large trunks. Rough Cut (no reporter narration)......

Breakingviews: Defrauding Uncle Sam
Breakingviews columnists discuss the latest twists in the U.S. mortgage mess involving Citigroup and Bank of America......

Fashion brings billions to British economy
Feb. 17 - As London Fashion Week takes place in the UK capital, with many in the industry predicting it will be bigger than ever, the British Fashion Council say fashion is worth almost 21 billion pounds to the UK economy. Joanna Partridge reports.....

Protesting students clash with Athens police
Feb. 17 - Scuffles break out between police and students at an anti-austerity protest in front of the Greek parliament. Rough Cut (no reporter narration)......

Europe week ahead: Greek debt deal on Monday, honest
Feb. 17 - Markets get a lift on hopes that, after weeks of disappointment, Monday really will see a deal on Greek debt......

Market valuations support Dow 15,000: Siegel
Feb. 17 - Despite ongoing concerns in Europe and a sluggish economic recovery, Wharton professor Jeremy Siegel says valuations and earnings growth suggest the Dow could hit 15,000 within two years......

Morning Briefing: Google tracking Safari users: WSJ
Feb. 17 - Google and other advertising companies are reportedly tracking web browsing habits of millions of people using a coding trick in Safari......

New 'pop up mall' is boxing clever
Feb. 17 - A new 'pop up mall' concept called BoxPark has turned a once scruffy stretch of east London into an eye-catching retail complex, composed of converted shipping containers. Hayley Platt reports......

ECB Greek bond dodge will rile bondholders - Breakingviews
Dodging losses on Greek bonds is bad news for countries whose debt the ECB holds and may make bond buying difficult in future. Changes to risk-weighting on SME funding could erode market confidence......

Travellers stuck in airline crisis
Feb. 17 - Air Australia's collapse into voluntary administration leaves passengers stuck in foreign locations or out of pocket. Paul Chapman reports......

Asia Week Ahead: Exporters pray for market relief
Embattled Japan and Asia exporters hope for recovery signs, while in China property concerns rise and the battle for iPad looms, and in Hong Kong a deal for Alibaba.com in the spotlight......

Thailand's river of gold
Feb. 17 - Thai villagers in Wang Nuea district head for the Wang River for their annual gold dig. Arnold Gay reports......

U.S. Morning Call: iPhones losing lure in China
Feb. 17 - Apple has reportedly lost market share for its iPhone in China, the largest smartphone market in the world......

Chelsea aim to nullify Napoli
Feb. 17 - Chelsea host a resurgent Napoli in the Champions League plus a look at the other key last 16 ties......

U.S. Day Ahead: Campbell's results may be in the soup
Correspondent Martinne Geller says Campbell Soup may not be able to convince Wall street it's back on a solid footing when it reports before the market open......

Market Pulse: UK spending binge boosts sterling
Feb. 17 - Sterling finds support across the board after January retail sales come in much stronger than expected......

GM pricing accelerates earnings
Feb. 16 - Summary of business headlines: General Motors sales excite investors; Economic signals point to firmer U.S. recovery, but Bernanke still worried; Wall Street enjoys swift rally on U.S. data, Greece hopes. Conway G. Gittens reports......

More pennies at the pump
Feb. 16 - Gas prices are on the rise well ahead of the spring driving season- costing drivers and businesses more than a few pennies and a lot of pain at the pump. Bobbi Rebell reports......

iPads pulled from China shelves
Feb 16 - An electronics store manager in Shanghai said he was ordered to pull Apple iPads from shelves. Apple is in the midst of a trademark dispute with a Chinese company seeking to ban sales of the tablet in China. Jen Rogers reports......

Apple iPads yanked off China shelves over patent dispute
Feb. 16 - A battle with China's Proview Technology caused some store owners to pull iPads off shelves in China, but the potential of a multi-billion dollar settlement hasn't affected analyst sentiment......

Trading at Noon: Wall St. adds gains on Greek deal
Feb. 16 - U.S. stocks hit session highs in late-morning trading after sources said euro zone central banks agreed on a Greek bond swap as part of a deal to help the debt-laden nation......

Debt crisis: as it happened February 17, 2012
Bank of England's Adam Posen warns that the UK economy isn't safe from the eurozone debt crisis, as Germany's finance minister seeks to reassure Europe ahead of key Greek bailout talks on Monday.<img width='1' height='1' src='http://telegraph.feed.....

Rangers 24m payment not an 'invisible loan', says ticket business
Money paid to Rangers for forward sale of tickets was handed over through the proper channels according to the company behind the deal.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbd13da/mf.gif' border='0'/&.....

Lisa Tchenguiz in 100m divorce battle
The divorce has been described as the most expensive in Britain, with the total pay-out sought by Lisa Tchenguiz in her long-running divorce from Vivian Imerman could be as much as 100m.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

Anglo American chief Cynthia Carroll speaks out over Chile row
Anglo American's chief executive Cynthia Carroll mounted a defence of her handling of a legal row with the world's biggest copper producer, Codelco.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbcfe9f/mf.gif'.....

Investors rebel over CSC land deals with Peel
A controversial deal by Capital Shopping Centres (CSC) to buy land from its biggest shareholder has survived despite a shareholder rebellion.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbcfea0/mf.gif' border.....

Shares rally on hope for Greek deal
Global stockmarkets rose as traders banked on Greece's 130bn (108bn) bail-out package being released despite the chaotic divisions among its paymasters.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbcabc0/mf......

Sir Philip Green urges retailers to buy British
Sir Philip Green has issued a rallying cry to retailers to buy British, in an effort to rebuild the UK's dwindling manufacturing capacity.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbccec9/mf.gif' border='0.....

Vodafone's $2.5bn Indian tax bill calls once again
Just when Vodafone thought it had put its Indian tax row to bed, the issue has blown up again.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbcceca/mf.gif' border='0'/><br/><br/><a href="http.....

Wall Street hits highs not seen for four years
Stock markets on Wall Street on Friday hit highs not seen in nearly four years as hopes of a Greek rescue deal and improving US economic data brought out buyers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb.....

Debt crisis: live
Bank of England's Adam Posen warns that the UK economy isn't safe from the eurozone debt crisis, as Germany's finance minister seeks to reassure Europe ahead of key Greek bailout talks on Monday.<img width='1' height='1' src='http://telegraph.feed.....

Centrica faces big questions on nuclear despite Franco-British summit
David Cameron and Nicolas Sarkozy invoked the spirit of entente cordiale on Friday in Paris, reaffirming their countries' commitment to building Britain's new fleet of nuclear power plants.<img width='1' height='1' src='http://telegraph.feedsporta.....

TNT turns down 4.9bn approach from UPS
US parcel-delivery giant UPS is locked in talks to buy European rival TNT Express after its first 4.9bn (4.1bn) offer was knocked back.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbcca0f/mf.gif' border='0'/&.....

UK retail sales post unexpected jump in January
Another upbeat economic survey has reinforced hopes that Britain is recovering far more strongly than expected this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb893dc/mf.gif' border='0'/><br/>.....

Italian police seize $6 trillion of fake US bonds in Switzerland
Italian police have seized $6 trillion of fake US bonds in Switzerland.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbb39a5/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

Bowleven soars as Dragon mulls bid
Oil and gas explorer Bowleven saw its shares jump more than 60pc on Friday after Dragon Oil announced it was considering a takeover bid for the West Africa-focused company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Eurozone crisis: Greece shows signs of anger towards Germany
Eurozone crisis: Greece shows signs of anger towards Germany.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbc0b2a/mf.gif' border='0'/>.....

Steel industry flags competition worries over Glencore-Xstrata deal
Europe's steelmakers have raised fears over the impact the planned 53bn merger of commodity trading giant Glencore and miner Xstrata will have on the market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cbba85.....

Rolls Royce secures 400m nuclear contract
Engineering group Rolls Royce has secured a 400m contract to provide components and expertise to AREVA as it builds four nuclear reactors in the UK on behalf of EDF.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Airbus A380 superjumbo hit by another fault
Another fault with Airbus's troubled A380 fleet has come to light just weeks after it was revealed that cracks were developing inside the superjumbos' wings.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cba086.....

Banque de France pulls last francs out of circulation
France can trace the history of its franc all the way back to King John II, but today it finally draws a line under 650 years of heritage.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb9f336/mf.gif' border='0.....

Siemens buys UK tidal company
Largest engineering company in Europe acquires majority stake in Bristol-based developer of tidal technology.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb95fdf/mf.gif' border='0'/>.....

Interactive Business Bullet: Markets, Anglo, London Fashion and next week
Top stories: Markets, Anglo, London Fashion and next week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb90858/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/126179582794.....

UK retail sales: reaction
Retail sales rose unexpectedly in January, at the fastest pace since April 2011. We bring you reaction from industry analysts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb8ef92/mf.gif' border='0'/><br.....

dfhdfgh
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb89a9f/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/127006625523/u/3/f/568300/c/32726/s/1cb89a9f/a2.htm"><img src="h.....

RBS pay chief defends Stephen Hester's 1m bonus
The RBS director in charge of awarding Stephen Hester a 1m bonus has defended the decision, despite the chief executive's later decision to waive it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cb7d729/mf.gif.....