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Sunday 19 February 2012

UK Financial News on 2012-02-19

Sun on Sunday to launch next week
The Sun on Sunday is to publish for the first time next weekend, News International has announced......

Iran 'halts UK-France oil sales'
Iran halts oil sales to British and French companies, the nation's oil ministry says, ahead of a 1 July ban on Iranian oil imports imposed by the EU......

Euro area 'built with no exits'
Speaking ahead of a key eurozone summit in Brussels, Foreign Secretary William Hague warns of the difficulties involved in Greece leaving the euro......

Spain rallies condemn job reforms
Trade unions stage mass protests across Spain against the conservative government's labour market reforms......

Sanctions 'disintegrating Syria'
One of Syria's leading businessmen says its economy is being crippled by foreign sanctions and that the government is slowly disintegrating......

Ed Balls calls for Budget tax cut
Labour shadow chancellor Ed Balls calls for "decisive action ... to boost growth", urging George Osborne to cut taxes in next month's Budget......

Few areas avoid house price slump
Average house prices have risen in just two local authority areas since the UK's property boom peaked in 2007, research by the Halifax bank suggests......

Matalan reviews job scheme role
Fashion chain Matalan suspends its involvement in a controversial government-backed work experience scheme......

VIDEO: Greek minister: We have no other choice
The Greek minister for International Economic Relations has said the nation had no plans to leave the eurozone but admitted "we need to do a lot more.".....

VIDEO: Can Morocco kick start its economy?
Although Morocco avoided a revolution last year, its economy is fragile. So what can the authorities do to give it a boost?.....

VIDEO: Can Bahrain still entice F1?
During last year's unrest Formula 1 withdrew its race in Bahrain. But will it go ahead during the next racing season?.....

Singapore pushes 'entrepreneurial nation'
Singapore pushes itself as an entrepreneurial nation.....

Inside the high-end housing market
How the super rich buy their homes.....

Interest-only loans harder to get
Mortgage firms make it harder to take out interest-only loans.....

Protesters and police clash in Athens
Feb. 19 - Scuffles erupt outside the Greek parliament after demonstrators attack police with stones and forces respond with tear gas. Rough Cut (no reporter narration).....

France's Sarkozy plays up crisis in campaign rally
Feb. 19 - President Nicolas Sarkozy told an election rally on Sunday his policies had saved France from economic ruin. Deborah Lutterbeck reports......

Iran stops oil sales to British, French companies.
Feb. 19 - Iran has stopped selling crude to British and French companies in a retaliatory measure against fresh EU sanctions. Deborah Lutterbeck reports......

Students in Greek anti-cuts demo
Feb 19 - Students protest over Greek austerity measures as the cabinet agrees a debt-swap for private creditors. Paul Chapman reports......

More feel airline failure fallout
Feb 18 - Passengers stranded in Hawaii by the collapse of Air Australia scramble to find a way home. Paul Chapman reports......

U.S. payroll tax holiday lives on
Feb 17 - Summary of business headlines: American lawmakers approved the extension of a payroll tax holiday until the end of the year; Consumer prices rise swiftly in January; Oil closes at 9-month high; Fake U.S. government bonds found in Switzerland.....

Warm weather helping local budgets
Feb 17 - The city of Yonkers, New York, reeling with budget cuts and shortfalls, is able to save some money this year as warm weather replaces last year's pricey snow blizzards. Jill Bennett reports......

Xi says no hard landing for Chinese economy.
Feb. 17 - Chinese Vice President Xi Jinping says there will be no hard landing for the Chinese economy. Deborah Lutterbeck reports......

John Timpson: Create an open culture where people are at ease
The management column: Straight-talking, common sense from the front line.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc56076/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.co.....

Lloyds Bank strips five directors of more than 1 million in bonuses
Lloyds Banking Group is to strip five directors of more than 1 million in bonuses as a penalty for a financial scandal.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc50ec3/mf.gif' border='0'/><br/>&l.....

Germany bows to global pressure and signals Greek rescue deal
Europe's key powers are on the brink of a 130bn (108bn) debt deal to rescue Greece and avert the first sovereign default in Western Europe in over half a century.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1c.....

Iran stops oil exports to UK and France
Iran has stopped selling crude to British and French companies, the country's oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc50.....

Treasury bullish over loan scheme despite HSBC doubts
The Treasury is still hopeful it will reach an agreement with UK banks on its planned 20bn credit-easing scheme, despite reservations raised by HSBC.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc50201/mf.gif.....

Four Seasons care homes in talks with new investors
Four Seasons, Britain's biggest care homes operator, is in talks with potential new equity investors to help the business grapple with its crippling debt burden.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc.....

RBS and Lloyds set to reveal big losses
Lloyds Banking Group and Royal Bank of Scotland are expected to unveil combined losses of more than 4bn when they publish annual results this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc4e2ff/mf.gif' .....

Bank of England fears bail-out protection won't be used
Bank of England officials are growing increasingly sceptical about how effective a key regulatory reform to protect taxpayers from another bail-out would be in the event of a future banking crisis.<img width='1' height='1' src='http://telegraph.fe.....

Insolvent companies face trading uncertainty
Confusion over the payment priorities of administrators of collapsed businesses is resulting in job losses and company liquidations, insolvency practitioners have warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

A Chinese hard landing is about as likely as a comet destroying Earth
There are two types of asset bubble: those which are easy to isolate and deal with, and those which pose significant systemic risk to an economy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc4e302/mf.gif' bo.....

Britain still leads critical financial reform talks
Readers could be forgiven for thinking financial services reform has, in 2012, focused on little other than bonuses or uncertainty in the eurozone. And, judging by a quick glance at the headlines, they would be right.<img width='1' height='1' src=.....

Cherry Blossom shoe polish maker puts a shine on its profits
Shoe polish, you might think, had gone the way of spats, tea cosies and ploughing by oxen, something picturesque but essentially useless in this day and age.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc4dcb.....

Italian tax men blitz the chic in ski resort raids
Italian tax agents donned skis, gloves and goggles to launch an unusual blitz in the chic ski resort of Courmayeur, two months after a similar raid on another playground of the rich, Cortina d'Ampezzo.<img width='1' height='1' src='http://telegrap.....

Vauxhall's Ellesmere Port factory under threat from GM's losses in Europe
There are only 20 miles between the Jaguar Land Rover plant in Halewood, Merseyside, and Vauxhall's Ellesmere Port factory. But they are split by 1bn.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc4dcbb/mf.gi.....

Can a return to the drachma save Greece as unemployment soars?
Greece's unemployment bomb has detonated. After a deceptive calm, the surge in job losses since last summer is shocking even for those who never believed that combined fiscal and monetary contraction could possibly lead to any result other than ruin......

French get tough on bank bail-outs
Any French bank that is bailed-out by taxpayers will be part-nationalised and forced to lend to businesses and households, the Socialist party has promised if it wins the forthcoming election as expected.<img width='1' height='1' src='http://teleg.....

US hedge funds set to take over at Travelodge
Two US hedge funds are poised to wrest control of Travelodge from Dubai's sovereign wealth fund as the UK budget hotel chain struggles beneath a 530m debt pile.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc4.....

China's might drives the demand for gold
The eye-catching prediction that China will this year overtake India as the world's biggest gold consumer seized the headlines when the World Gold Council released its latest snapshot of global demand on Thursday.<img width='1' height='1' src='htt.....

Violent strike at world's biggest platinum mine boosts metal's price
There were dramatic scenes last week at the Rustenburg plant in South Africa, the world's largest platinum mine.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc49f75/mf.gif' border='0'/><br/><br/&g.....

The week ahead in business and economics: February 20 - 24 2012
The state-backed banks, Royal Bank of Scotland and Lloyds Banking Group, both report full-year results this week, and the Bank of England publishes the minutes of its latest MPC meeting.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

China eases credit as property prices slide
China loosened monetary policy in a surprise move over the weekend, taking precautionary action to shore up the economy after a slew of weak data.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc44c43/mf.gif' b.....

Eddie the Eagle: 'I went from 6,000 a year to 10,000 an hour'
Ski jumper Eddie 'The Eagle' Edwards talks fame and fortune.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc28f6a/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1270067247.....

Palio bids for investment from Government's Business Finance Partnership
Palio Capital Partners has emerged as one of the fund managers bidding for investment from the Government's 1bn Business Finance Partnership (BFP).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1cc2830f/mf.gif' .....

Hedge funds bet Glencore won't pay more for Xstrata
A group of arbitrage hedge funds is betting that Glencore will either agree its 53bn mega-merger with Xstrata or walk away, putting them directly opposed to long-only investors looking for an increased premium.<img width='1' height='1' src='http:/.....

Heineken drops S&N pension talks
Heineken has closed the door to negotiations with tens of thousands of Scottish & Newcastle pensioners who claim they were unfairly treated by the Dutch brewing giant in the wake of its 2008 takeover of their former employer.<img width='1' hei.....