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Sunday 3 June 2012

UK Financial News on 2012-06-03

Cyprus 'may seek bailout funds'
Cyprus edges closer to a bailout, with the central bank governor adding to speculation that the country may need European Union aid......

Bank reforms 'must press ahead'
The consumer group Which? urges the chancellor to stand firm on changes to the financial sector, despite lobbying from banks......

Plan to remove 'granny flat' tax
Ministers say up to 300,000 families in England could benefit from plans to scrap council tax for so-called granny flats and ease rules on garage conversions......

Firm attacks wind farm protesters
An energy firm claims that wind farm developments are being unfairly blocked by "tiny" groups of protesters......

Dental claim fines hit thousands
More than 8,000 NHS dental patients have been fined in the past year for claiming free treatment when they were not eligible in the last year......

VIDEO: 'I developed camel shampoo'
With her German partners,Birgit Maria Kemphues has helped to develop an organic camel shampoo made from German pine trees......

VIDEO: Your Money: Rising rents pile on debt
In this week's Your Money, Declan Curry looks at rising rents which are forcing thousands of people into debt......

Elton John's son boosts baby business
Innovative entrepreneurs get celebrity endorsements for their baby products.....

Governments should 'put small firms first'
Small businesses should be at the heart of UK economic policy.....

Pakistan: sink or swim?
Pakistan's economy is at a crossroads.....

Touch screen mittens get warm reception
Jun 3 - Touch screen gloves, developed several years ago for tech users in cold climates, have received an upgrade in an unlikely location. Students in tropical Singapore have turned the glove into a more efficient mitten featuring a unique double-la.....

BP could be takeover target after $30bn TNK-BP sale, shareholders warn
BP is at risk of becoming a takeover target if it presses ahead with a sale of its $30bn (19.5bn) stake in Russian joint venture TNK-BP and hands cash back to investors, shareholders have warned.<img width='1' height='1' src='http://telegraph.feed.....

BIS warns global lending contracting at fastest pace since 2008 Lehman crisis
International lending is contracting at the fastest pace since the onset of the financial crisis in 2008 as Europe's banks scramble to meet tougher rules.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ffab499/m.....

France warns Greek euro exit on the agenda if bailout measures not imposed
A Greek exit from the eurozone will be on the agenda if Athens fails to impose austerity measures required in its EU-IMF bailout deal, French Finance Minister Pierre Moscovici has said.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

The week that Europe stopped pretending
The euro has essentially broken down as a viable economic and political undertaking. The latest rush of events reeks of impending denouement.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ffa46c9/mf.gif' border.....

Spanish rescue draws closer as Cyprus buckles
Spain's ruling party has begun to crack under pressure, signalling for the first time that the country may need a European rescue to shore up its banking system.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff.....

Queen's Diamond Jubilee: Retailers fear wet weather will hit sales
Pubs and retailers are tempering their expectations of a sales bonanza over the double bank holiday as the Diamond Jubilee proves to be a washout.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9eef1/mf.gif' b.....

Oxford University student launches 'Facebook for inventors'
An Oxford University postgraduate student is set to launch a "Facebook for inventors", where scientists can share their ideas and find applications for their cutting-edge technology.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

AstraZeneca bids $4bn for diabetes specialist Amylin
AstraZeneca is understood to have made a $4bn (2.6bn) takeover approach for Amylin, a US rival that specialises in diabetes treatments.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9e97b/mf.gif' border='0'/&.....

Facebook under pressure as short-sellers pile in
Facebook shares will come under further pressure on Monday after speculators staked $1bn (651m) on the company's market value continuing to spiral downward.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9e97c.....

Jerome Kerviel appeals 4.9bn SocGen rogue trading scandal
Jerome Kerviel, the Societe Generale rogue trader who lost the bank 4.9bn (4bn) in 2008, will begin his appeal against conviction on Monday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9e97d/mf.gif' border=.....

Wonga 'running shy' of UK reputation over plans to list in US
Critics have attacked the controversial payday lender Wonga for "running shy" of its reputation in Britain over plans to shun the UK and float the business in the US.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

The drink giants aiming to smash Africa's 'moonshine' tradition
SAB aims to crack illicit alcohol market reportedly worth $33bn.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9b4f5/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/136157.....

The political economy of euro break-up
So the Irish voted in favour of austerity. No surprises there.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff9a353/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/13351748.....

Queen's Diamond Jubilee: just four Regent Street retailers remain from 1952
Just four retailers have survived the dramatic redevelopment of Regent Street, which is owned by the Monarchy, during the 60-year reign of the Queen.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff94761/mf.gif.....

Sports Direct's Mike Ashley set to bid for England football kit maker Umbro
Nike has put Umbro up for sale less then five years after buying it for 285m and Sports Direct - which held a 30pc stake in Umbro before it fell into Nike's hands in 2007 - is expected to join the running.<img width='1' height='1' src='http://tele.....

The City 60 years ago: bowler hats, financial feudalism and no brown shoes or Big Bang
When the Queen began her reign, the City had some odd rituals.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff8c403/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/13615793.....

British inventions must be 'smaller and smarter' to survive
If the 20th century was about bigger and better, then the 21st will be smaller and cleverer.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff8bbe2/mf.gif' border='0'/><br/><br/><a href="http:/.....

Gold price bounces amid economic turmoil
Finally it has happened. Gold is behaving less like a risk asset and more like the "safe haven" its fans believe it to be.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff8bbe3/mf.gif' border='0'/><br/>.....

What does a 'Grexit' mean for commodities?
Gold could be the exception in a grim picture for commodity prices.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff8bbe5/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/136.....

George Soros says Germany has three months to save the eurozone
George Soros, the billionaire investor, has warned Germany it has three months to save the eurozone or risk the destruction of the European Union and a "lost decade".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

Bank of England to consider 50bn stimulus for economy
Bank of England policymakers may opt to inject a further 50bn of stimulus into Britain's ailing economy this week, according to leading economists.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff7a90c/mf.gif' .....

Are corporate pay advisers worth it? For and against
Views differ on the private companies that advise on executive pay. Two leading business figures argue for and against.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff7452c/mf.gif' border='0'/><br/>&l.....

Royal Mint's search for new chairman could spark sale
The prospect of the on-off sales process for the Royal Mint being revived has moved a step closer after the Treasury announced it is to appoint a new chairman.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff72.....

RBS could sell off central London properties in bid to cut costs
The Royal Bank of Scotland's investment banking arm is considering vacating some of its central London properties as a result of its plan to cut 3,500 jobs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1ff72bb1.....

Dragon's Den star James Caan launches sale-planning company
Former Dragons' Den star James Caan is looking to break into the City's lucrative deal-making market with a new firm aimed at revolutionising the way companies plan for a sale.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....