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Sunday 4 March 2012

UK Financial News on 2012-03-04

Halifax to increase mortgage rate
The UK's biggest mortgage lender, the Halifax, is raising its standard variable mortgage rate from 1 May, to 3.99% from 3.5%......

Coalition 'must expand airports'
Seventy business leaders, MPs and trade unionists have written to the Sunday Telegraph, calling on the government to support airport expansion......

US government to continue BP case
The US government says it will continue its case against BP over the Deepwater Horizon oil spill, despite a deal reached by BP with other claimants......

Charities 'could face 5bn cuts'
A leaked report obtained by Labour suggests the charity sector is facing funding cuts of between 1bn and 5.5bn in the current financial year......

Logbook loans brand active again
The BBC has learned that Britain's largest logbook loan brand is active again just days after the firm that owned it went into administration......

Moody's downgrades Greece again
Moody's cuts Greece's credit rating again to "C", the lowest level on its scale, warning of default despite a recent debt write-off deal......

Gers near decision on player cuts
Rangers' administrators say they are "hopeful" an agreement on cuts to the playing squad can be delivered on Monday......

VIDEO: Temporary fix? Pop-up shops on the rise
Pop-up shops allow designers to test the market over a couple of days......

VIDEO: Airport expansion 'needed for growth'
Around 70 senior figures have written to the Sunday Telegraph, calling on the government to support airport expansion, and not to rule out Heathrow......

VIDEO: Boris on the Budget
Boris Johnson calls for a major increase in spending on transport infrastructure, a National Insurance holiday for firms employing young people and a crackdown on tax avoidance......

VIDEO: Fight for fuel duty cut continues
Campaigners are preparing to take their fight for a cut in fuel duty to Westminster. A mass lobby is planned to try to persuade the Chancellor to cut taxation in his budget......

VIDEO: Talking cash machines for blind people?
A leading charity for blind people is calling on banks to make cash machines easier to use for people with sight loss......

VIDEO: Your Money: Interest rates and account fees
In this week's Your Money Declan Curry looks at increasing interest rates for some mortgages, help for first time buyers trying to buy newly-built properties and the bank current accounts that charge a monthly fee......

Business turns to ants and algorithms in search for profit
How ants are teaching the world's biggest companies how to behave.....

BP settlement raises hopes
BP: the long and costly attempt to return to normal.....

Car factory closures loom in Europe
Weak sales spark fears that factories might close.....

Three years of record-low rates
The effect of three years of record low interest rates on you.....

Father and son debate low rates
The father and son with different views on the merits of low rates.....

$325 mln counterfeit ring busted
Mar 2 - Summary of business headlines: U.S. authorities break up one of the biggest counterfeit rings; AT&T goes after high data smartphone users; Yelp finds good reviews with IPO; Wall Street ends Friday trade lower, but posts mixed results for the .....

Cable drive to safeguard UK jobs at Geneva Motor Show
Business Secretary Vince Cable will head to the Geneva Motor Show on Monday ahead of a series of key announcements on the future of the UK car industry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d23f83e/mf......

Spitting Image makes comeback - on a mobile
Members of the team behind hit satire show Spitting Image are reuniting to bring vicious political caricatures to a new generation with the help of retail investors.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Badoo - the matchmaker from Russia with love
Founder Andrey Andreev on his plans for the growing social network.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d23f4cd/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/127.....

Rusting Britain threatens recovery
Growth depends scrapping ageing kit and investing in machinery.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d23f4ce/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1276982.....

Cadbury acquires a taste for US owner Kraft at last
Cadbury opens its Bournville factory gates to The Telegraph.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d23f4cf/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1276982562.....

Greece bubbles towards a third bailout and boiling point
After my prognostications last Monday about the Greek deal, the markets took a decidedly more optimistic view. The catalyst was the announcement of a bumper amount of funding by the ECB to eurozone banks. Is the euro crisis now effectively over?<i.....

Greek bubbles towards a third bailout and boiling point
After my prognostications last Monday about the Greek deal, the markets took a decidedly more optimistic view. The catalyst was the announcement of a bumper amount of funding by the ECB to eurozone banks. Is the euro crisis now effectively over?<i.....

Plateau Oil meets 125m Chinese cars
Oil spikes usually metastasize once energy costs reach 9pc of global GDP. The longer they stay there, the greater the damage.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d238f3e/mf.gif' border='0'/><br/.....

Week ahead: March 5-9
Aviva kicks off insurance reports season as MPC marks key anniversary.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d232811/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Sunday papers: round-up
A checklist of the main stories in the the Sunday papers<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d232541/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/127698245220/u.....

Dashwood: Summers' gaze falls on Elena's divorce fight
Private investigator Daniel Summers has been jailed for a "blagging conspiracy" after a court heard he accessed confidential data at the behest of wealthy clients.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1.....

George Osborne and the 10bn Budget dilemma
Chancellor George Osborne has a 10billion dilemma on his mind ahead of this month's Budget.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d22ca89/mf.gif' border='0'/>.....

Play.com chief to run 'e-pharmacy' Chemist Direct
Mitesh Soma, the man who launched online pharmacy business Chemist Direct from his garden shed, has hired the outgoing managing director of Play.com to increase the size of the business internationally.<img width='1' height='1' src='http://telegra.....

Halifax raises mortgage rates
Hundreds of thousands of Halifax customers face 0.5pc rise in their mortgage rate.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d209d49/mf.gif' border='0'/><br/><br/><a href="http://da.feedsp.....

Questor share tip: Engineer IMI benefits from its sweet spots
Engineering group IMI posted an excellent set of full-year numbers on Friday, as its strategy of focusing on "sweet spot" products with high margins bears fruit.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d2.....

A 20bn pension misselling scandal?
In some cases 55pc of workers who receive advice are switching out of final salary schemes.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d209d4b/mf.gif' border='0'/><br/><br/><a href="http://.....

We need action, not words, to undo red tape
Telegraph View: Regulations are stifling enterprise and will drive jobs out of Britain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d209d4c/mf.gif' border='0'/><br/><br/><a href="http://da.f.....

Questor share tip: Engineer IMI benefits from its sweet spots
Engineering group IMI posted an excellent set of full-year numbers on Friday, as its strategy of focusing on "sweet spot" products with high margins bears fruit.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d2.....

Car insurance in the UK is a dysfunctional market, claims RSA boss Simon Lee
RSA chief Simon Lee on the curse of referral fees.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d1fc5c3/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/127698314372/u/3/f/5.....

US to press on with $18bn BP lawsuit despite settlement
The US government vowed to press ahead with its $18bn (11bn) legal action against BP despite the oil giant's $7.8bn settlement with 110,000 Gulf of Mexico businesses and individuals over the Deepwater Horizon oil spill.<img width='1' height='1' sr.....

Tesco sales improve as discounts draw in shoppers
Tesco has seen a resurgence in sales after the beleaguered supermarket chain encouraged more customers to visit its shops with heavy discounting.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d1fc5c5/mf.gif' bo.....

Millions face higher mortgage bills as Santander joins NatWest and Halifax to raise rates
Millons of mortgage holders are set to face higher bills after Santander announced that it is joining National Westminster Bank and Halifax in raising interest rates on mortgages despite BoE base rate at record lows.<img width='1' height='1' src='.....

EU regulatory reforms to cut retirement income 20pc
European politicians are plotting regulatory reforms that will penalise UK insurance companies and cut retirement incomes by up to 20pc, senior industry sources have warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

EU regulatory reforms to cut retirement income 20pc
European politicians are plotting regulatory reforms that will penalise UK insurance companies and cut retirement incomes by up to 20pc, senior industry sources have warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Questor share tip: Essar Energy's Indian woes may drag on
Essar Energy: Questor says avoid at 113.8p<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d1fc5c9/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/127698314367/u/3/f/568300/c/.....