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Sunday 1 July 2012

UK Financial News on 2012-07-01

Barclays chairman Agius to resign
Marcus Agius is to resign on Monday as the chairman of Barclays following the Libor inter-bank lending rate scandal......

Bank account closures 'unjust'
The chairman of a key consumer body has called for major changes in the way banks deal with customers where there is an allegation of fraudulent activity on an account......

PM 'prepared to consider EU vote'
David Cameron says he is prepared to consider a referendum on the UK's relationship with the EU, but only when the time is right......

Ministers order bank rate review
The government announces an independent review of the workings of the Libor inter-bank lending rate in the wake of the Barclays fine......

Bank shareholders 'must get grip'
Shareholders "must get a stronger grip" to prevent corruption in banks, Business Secretary Vince Cable says in the wake of the Barclays scandal......

RBS sacks traders over Libor fix
The Royal Bank of Scotland has sacked four traders over their alleged involvement in the Libor-fixing scandal, it emerges......

VIDEO: Should Bob Diamond stand down?
The shadow chief secretary for the Treasury said Bob Diamond was "not providing the leadership" needed by Barclays Bank and the banking sector......

VIDEO: Your Money: Saving money for travellers
Declan Curry focuses on travel this week, looking at rail fares, hotel and flights, and the cost benefits of car shares......

VIDEO: India's tablet technology problems
The Indian government has launched the latest version of its Aakash device, which it hopes will be used by millions of school children across the country......

Private jets reject image of opulence
Private jet sector rejects image of opulence.....

Will California bite the high-speed rail bullet?
Will California's high-speed rail plans be derailed?.....

Jakarta's luxury car boom
Forget a global downturn - luxury car showrooms in the Indonesian capital say they're on a roll. Masako Iijima reports......

Bank of England dragged into rate-rigging row'
Barclays stepped up its efforts to rig interest rates after its chief executive personally spoke to the deputy governor of the Bank of England.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e73b09/mf.gif' bord.....

Oka founder Viscountess Astor launches staff bonus scheme
Viscountess Astor, the founder of the upmarket furniture shop Oka, has introduced a bonus scheme to ensure shop workers share some of the company's profits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e713dc.....

Barclays' chairman Marcus Agius is last of the old school
Marcus Agius is one of the City's last bankers of the old school.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e713dd/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/13844.....

Hoax fears over UK firm's 1.1bn bid for Australia's David Jones
When Australia's second biggest department store company, David Jones, said it had received a bid approach last week its shares leapt.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e70fe3/mf.gif' border='0'/&g.....

Bank of England prepares 200bn economic stimulus
The Bank of England is preparing to unleash a 200bn stimulus package for the economy by printing more money this week and relaxing financial regulations.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e70fe4/mf.....

Libor: a week of corruption
Marcus Agius, the chairman of Barclays Bank, is set to step down as the row intensified over the Libor rate-fixing scandal, according to reports. Here, we look back at a bad week for the UK banking sector.<img width='1' height='1' src='http://tele.....

Agius to leave Barclays over rate fixing scandal
The interest rate rigging scandal at Barclays will claim its first casualty today with the departure of chairman Marcus Agius.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e709bd/mf.gif' border='0'/><br.....

Who is Sir Michael Rake?
Sir Michael Rake, a former top accountant and senior independent director on the board of Barclays, is believed to be the most likely candidate to be temporarily installed as chairman when Marcus Agius steps down.<img width='1' height='1' src='htt.....

Who is Marcus Agius?
Marcus Agius, the chairman of Barclays Bank, is to step down as the row intensified over the Libor rate-fixing scandal. Here, we take a closer look at his CV.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e709.....

Barclays chairman Marcus Agius to step down
The interest rate rigging scandal at Barclays will claim its first casualty on Monday with the departure of chairman Marcus Agius, with BT chairman Sir Mike Rake a leading candidate to replace him.<img width='1' height='1' src='http://telegraph.fe.....

Auto Trader to be axed
Auto Trader titles still sell an average of 87,000 copies a week but has experienced falling circulation and a slowdown in advertising revenues.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e6b0bd/mf.gif' bor.....

Huffington Post in talks to launch in China
The Huffington Post, the news and blogging website founded by Arianna Huffington and owned by AOL, is in talks to launch in China.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e6ae7f/mf.gif' border='0'/>&l.....

Heritage in 541m Nigerian oil deal
Heritage Oil has agreed to buy a stake in a group of Nigerian oil assets in a $850m (541m) deal which the company said would transform its production capabilities.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

Pulling Xstrata deal could cost Glencore 300m break fee
Glencore could be forced to pay almost 300m in break fees if it decides to walk away from its planned merger with Xstrata.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e68b17/mf.gif' border='0'/><br/>.....

Euro debt crisis: is complete pessimism justified?
Rarely have economists and policy-makers emitted such unmitigated gloom.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e68b18/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

Europe's bad debts 'will bite in 2013'
Bad debts in the eurozone are a "ticking time bomb" for the continent's economy, with the worst effects expected to be felt next year, a report has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e68b19/.....

Governments have failed miserably on business crime
It used to be about every 10 years that the US and the UK erupted with convulsions of moral repugnance at the ethical bankruptcy of the market place.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e6851e/mf.gif.....

Oil and gas are the new African queens
In just a few years, Africa has turned into a 'feeding ground' for oil majors.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e60457/mf.gif' border='0'/><br/><br/><a href="http://da.feedsporta.....

How Arianna Huffington has breathed new life into the media
Huffington Post has shaken US's staid media landscape since launch.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e5fbea/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/138.....

Libor scandal: Was Barclays the worst offender?
Libor scandal could have far-reaching consequences for banking industry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e19a97/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

Economic and business week ahead: July 2 - July 6
The focus of the week is likely to be on whether the Bank of England's Monetary Policy Committee decides to restart QE.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e59455/mf.gif' border='0'/><br/>&l.....

Food inflation fears as US crop prices surge
Worries about world food prices are increasing after hot weather in US.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20e5be7c/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

Wealthy Russians boost Dorchester hotel owner
Europe may be in the grip of an economic storm but wealthy tourists from Russia and Brazil have helped the Dorchester Group, owner of some of the world's most opulent hotels, to increase sales almost 9pc.<img width='1' height='1' src='http://teleg.....

Abercrombie & Kent sales jump 25pc as Britons head for Africa
Abercrombie & Kent, the luxury travel company, has seen sales jump 25pc as Britons escape the economic downturn at home for destinations such as South America and Africa.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

China manufacturing growth slows
China's manufacturing activity expanded at its weakest pace for seven months in June, despite government attempts to arrest the slowdown, raising fresh fears about the country's ability to power the global economy.<img width='1' height='1' src='ht.....