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Sunday 18 March 2012

UK Financial News on 2012-03-18

Royal Mail pension move imminent
Royal Mail pension fund assets and liabilities are set to be transferred to the government next month, the BBC understands......

Budget targets house tax loophole
Chancellor George Osborne confirms he will target stamp duty avoidance with "aggressive" new measures in this week's Budget......

Barclays swap 'mis-selling' probe
The Financial Services Authority is investigating claims that Barclays mis-sold complex financial contracts called swaps to clients......

Sunday trading 'change' for Games
The government is expected to propose suspending Sunday trading laws on eight occasions from 22 July during the Olympics and Paralympics......

Union fury over public pay plans
Unions react angrily to plans to scrap national pay rates for some public sector workers in the UK......

Brazil to file charges on Chevron
Brazilian prosecutors say they will bring charges against 17 executives from the US oil firm Chevron and a drilling contractor after a new leak......

Red Bull's co-founder Chaleo dies
The creator of the energy drink Red Bull, self-made billionaire and one of Thailand's richest men, Chaleo Yoovidhya, dies in Bangkok......

Venizelos to lead Greece's Pasok
Greek Finance Minister Evangelos Venizelos claims victory in the centre-left Pasok party's leadership vote, ahead of a general election......

Wider ban on junk food ads urged
Scotland's public health minister writes to the UK health secretary urging support for a pre-watershed ban on junk food adverts......

Thatcher 'met Murdoch in secret'
Private papers released for the first time reveal a meeting kept secret and denied between Margaret Thatcher and Rupert Murdoch over his bid to buy the Times newspapers......

Cash boost for jobless hotspots
The Scottish government announces six priority areas set to share 9m to tackle the challenge of youth unemployment......

Call for 'family-friendly' Budget
A family charity calls on the chancellor to avoid delivering what it calls a "break-up Budget"......

VIDEO: Sunday trading laws rethink
Chancellor George Osborne is to propose emergency legislation so that large shops in England and Wales can trade for more than six hours during the Olympic Games......

VIDEO: Five Minutes With: Sir Richard Branson
Entrepreneur Sir Richard Branson talks to Matthew Stadlen about life as a billionaire, the most important piece of advice he ever received, what pushes him to try to break records, drugs policy, and the closest he has ever been to death......

VIDEO: UK 'can't afford significant tax cuts'
The CBI director general says the UK can not afford significant tax cuts in Wednesday's Budget and calls for "prudent and sensible" plans to cut the deficit and improve growth......

VIDEO: Redwood: I want the rich to pay more
A Conservative MP says the 50p tax rate is losing money for the Treasury and cutting it would actually bring in more revenue......

VIDEO: 'Not the time to cut 50p tax rate'
A Liberal Democrat Treasury spokesman says Wednesday's budget is not the time to cut the UK's top rate on income tax for those those earning more than 150,000......

VIDEO: PM holds talks over budget
The prime minister has held talks with the Chancellor George Osborne and his Liberal Democrat coalition partners to seek agreement on next week's budget......

VIDEO: The high cost of no home insurance
Almost two million people in the UK have no home insurance, and may be unaware that even if damage is caused by someone else, they could lose everything......

Energy giants target Africa's gas
Oil and gas discoveries to spark change.....

Sachs bids to head World Bank
Prof Jeffrey Sachs upsets the World Bank apple cart.....

Feuds threaten Asia's family businesses
Future of Asia's family businesses under threat.....

Dangers of leaving your home uninsured
Dangers of leaving your home uninsured.....

Tips on how to handle your debts
Tips on how to handle your debts.....

PIMCO chief Mohamed El-Erian expects 'second Greece' in Portugal
The giant bond fund PIMCO said Europe has not yet tamed its debt crisis and will soon face a 'second Greece' in Portugal as the country's economy spirals downwards.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Siemens in talks to buy Expro's manufacturing arm for $650m
Expro International, the Aberdeen-based oil services business, is in talks to sell its manufacturing business to Siemens for $650m (410m).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8dde90/mf.gif' border='0.....

NBNK chief Gary Hoffman's 'meeting' with Co-op riles investors
Revelations that NBNK's chief executive Gary Hoffman met the bank's main bid rival to discuss defecting has sparked concern among some of its biggest investors.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8e.....

Former oil executive Lynn Fordham needs to be slick when SVG deals with Coller Capital
Lynn Fordham, chief executive of listed private equity firm SVG, does not take kindly to being bullied.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8e1e19/mf.gif' border='0'/><br/><br/><a h.....

Goldman Sachs involved in Travelodge rescue deal
Goldman Sachs has emerged as the third party involved in a deal to take control of budget hotel chain Travelodge.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8dda30/mf.gif' border='0'/><br/><br/&.....

Budget 2012: Chancellor George Osborne's tax avoidance crackdown will target big business
Big business is facing a permanent tax crackdown on abusive avoidance schemes under plans to be unveiled in Wednesday's Budget.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8db365/mf.gif' border='0'/><b.....

IMF chief Christine Lagarde fears oil spike poses serious threat to global recovery
The International Monetary Fund has warned that surging oil costs pose a serious risk to the global economy, threatening to smother expansion before a fresh cycle of growth is safely under way.<img width='1' height='1' src='http://telegraph.feedsp.....

Minimum alcohol price 'illegal', claims Scotch Whisky Association
Whisky producers have warned that proposals to impose a minimum unit price on alcohol are likely to be challenged under European law.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8da7f7/mf.gif' border='0'/>.....

Budget 2012: A classic tale of spending, tax and reform
It is a curious belief some people have that twiddling with a few tax rates and expenditures in Wednesday's Budget is going to transform matters.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8da557/mf.gif' bo.....

The UK economy has had the rain, now here come the green shoots
Early economic indicators suggest deficit reduction plan may be working.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8d40c9/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

The biggest winners in employment tribunal cases are the lawyers
Working relationships, like marriages, sometimes break down and end in divorce, with neither party necessarily to blame.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8d6fca/mf.gif' border='0'/><br/>&.....

Russian railway boss Vladimir Yakunin is trying to keep his company, country and President on track
Train boss Vladimir Yakunin has one of the most powerful jobs in Russia.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8d6d0f/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

China angers the world as battle for rare earth metals escalates
China angers the world with export restrictions on essential components.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8d33f0/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

Britain needs a Budget for growth and enterprise
Telegraph View: The controversial 50p tax rate on those earning more than 150,000 should be scrapped.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8a3205/mf.gif' border='0'/><br/><br/><a hre.....

BC Partners buys back majority stake in Foxtons
Private equity firm BC Partners has bought back a majority stake in estate agent Foxtons for between 55m and 75m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8a27cb/mf.gif' border='0'/><br/><br/&.....

UK carbon tax will leave British companies uncompetitive, warns Energy Select Committee chairman Tim Yeo
British businesses will lose out to European rivals unless Chancellor George Osborne uses his Budget to scrap plans for a unilateral carbon tax, Tim Yeo, the Conservative chairman of the Energy Select Committee, has warned.<img width='1' height='1.....

Britain lags behind BRICs in African race, warns former Nigeria president Olusegun Obasanjo
Britain is being overtaken by emerging economies, such as India and Brazil in the "race" for a share of Africa's new and fast-growing markets, according to Olusegun Obasanjo, the former president of Nigeria and leader of its ruling party.<img widt.....

Budget 2012: Government to offer tax breaks on property deals to draw money into buy-to-let sector
Property investors are to be offered tax breaks on deals in an attempt by the Government to attract spending into the UK and ease Britain's housing shortage.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8a27c.....

Budget 2012: Banks must help UK avoid a recession
Sunday Telegraph columnist Liam Halligan: how to avoid a recession.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d892346/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/129.....

Pension funds turn on Mark Zuckerberg over Facebook flotation
Facebook founder Mark Zuckerberg is facing a backlash from some of the world's major pension funds over his plan to keep a controlling grip on the company after its multi-billion dollar flotation.<img width='1' height='1' src='http://telegraph.fee.....

London Mayor Boris Johnson hails 1.2m plan for derelict city area
A historic part of east London that has lain derelict for decades is in line for a 1.2bn transformation creating about 9,500 jobs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8915cc/mf.gif' border='0'/>&l.....

Co-Op held talks with Lloyds rival NBNK over hiring chief Gary Hoffman
The Co-operative Group has held talks with Garry Hoffman, the chief executive of its main rival in the 1.5bn race to buy a prized network of Lloyds Banking Group branches.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Co-Op held talks with Lloyds rival NBNK over hiring chief Garry Hoffman
The Co-operative Group has held talks with Garry Hoffman, the chief executive of its main rival in the 1.5bn race to buy a prized network of Lloyds Banking Group branches.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Health and safety inspectors to charge 256 an hour to tell companies what they're doing wrong
Inspectors to charge businesses to tell them if premises are safe.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8915d0/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1292.....

Budget 2012: Chancellor George Osborne faces growing anger over 50p tax rate
Business anger over the 50p top rate of income tax has leapt in the past year, a survey of some of Britain's biggest companies has shown.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1d8915d1/mf.gif' border='0'.....