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Sunday 5 August 2012

UK Financial News on 2012-08-05

Monti warns of psychological rift
Italy's Prime Minister Mario Monti warns of a "psychological break-up" of Europe, while talks over Greek reforms make progress......

Hunt Murdoch 'meeting' criticised
Video footage of an encounter between Culture Secretary Jeremy Hunt and Rupert Murdoch at the Olympics suggests the pair are "as close as ever," a Labour MP says......

Serbia law reins in central bank
Serbia's parliament adopts a new central bank law criticised by the EU and IMF, who say it strips away the bank's independence......

Frustrated JJB Sports investors plan action
JJB Sports' leading shareholders could force through a major restructuring of the retailer after losing patience with management over the company's poor performance.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Andy Bond hopes to Wiggle way to online win
Former Asda chief executive, Andy Bond, is riding high as an internet cycling retailer.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2213bb5d/mf.gif' border='0'/><br/><br/><a href="http://da.f.....

Online retailer Amazon to overtake Wal-Wart by 2020, says ex-Asda chief Andy Bond
Amazon will overtake Wal-Mart as the world's biggest retailer by 2020 amid a fundamental shift in the world's shopping habits, according to Andy Bond, former boss of Asda.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Barclays plans radical bonus reforms
Barclays is planning radical bonus reforms that could see staff having to wait until they retire to collect their awards, as the bank tries to overhaul its culture.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Shale gas still an object lesson for miners
Supply and demand is at the heart of basic economics and that applies equally to commodities markets. Nowhere is that currently more apparent than in the gas market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

IAG considering stake in American Airlines
International Airlines Group, British Airways' parent company, is considering buying a small stake in its embattled partner American Airlines to protect their alliance.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Debt crisis threatens to break up Europe
Tensions within the eurozone over how to resolve the debt crisis are turning countries against each other and threatening to rip Europe apart, Italian Prime Minister Mario Monti has warned.<img width='1' height='1' src='http://telegraph.feedsporta.....

Venetian cunning of Draghi-Monti masterplan may save euro for now
So we enter the treacherous market month of August with Europe in limbo. The actors wait upon each other. World finance held hostage to a fiendishly complicated game of diplomatic chess.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

Euro elites should say if they could ever view single currency as a failure
What conditions could convince the euro elites that the euro was a failure and if they can imagine such conditions, then what stops them from concluding that they exist now?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Troika sees 'progress' in Greece but delays final verdict
Greece has made some progress in finding budget cuts needed to continue its bailout programme but not all work is done and international inspectors will return in September for a final verdict, officials said on Sunday.<img width='1' height='1' sr.....

China to speed-up fine tuning of monetary policy
China's central bank has pledged to intensify its monetary policy fine-tuning in the second half of this year and improve credit policy to bolster the real economy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Cash-for-gold shops boom as Italians sell off their bling
Italy's traditional goldsmiths are up in arms over a boom in the poorly regulated cash-for-gold sector that is making billions for the mafia as hard-up Italians rush to sell off their bling.<img width='1' height='1' src='http://telegraph.feedsport.....

Rivals plot 10bn bid for RBS's US arm
Royal Bank of Scotland is facing potential bids for its key US retail banking business that could raise up to 10bn.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2210a75d/mf.gif' border='0'/><br/><br.....

Invesco seeks control of JJB via debt deal
Invesco, the biggest shareholder in JJB Sports, wants to buy the ailing retailer's outstanding debt in an attempt to take control of the company, the Sunday Times reports.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Dashwood: An interesting lunch for Vince Cable
Two days before the Financial Times wrote "Ministers weigh buying out RBS shares", Vince Cable took lunch at the Pink 'Un.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/220ffc4f/mf.gif' border='0'/><br/>.....

Smallbone teams up with Kelly Hoppen
Smallbone of Devizes, the luxury kitchen manufacturer and designer, has teamed up with Kelly Hoppen as part of an overseas push.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/220fb651/mf.gif' border='0'/><.....

City has failed on unfit IT systems
Banks are using computer systems that are "unfit for purpose" and as a result have little idea what is going on inside their own businesses, a report has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/220.....

Questor: invest in firms with aftercare services
Questor on companies which offer some guarantee of future income.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2213aa67/mf.gif' border='0'/>.....

Retailers warn on Olympics 'chaos' fears
Retailers in London's West End asked Transport for London to tone down warnings about transport chaos after a fall in customer numbers and sales at the start of the Games.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Ministry of Sound chairman, James Palumbo: why Universal's deal for EMI is good for the music industry
The deal to sell EMI promises to rebuild the record company, but the infighting over the sale is in danger of distracting everyone from finding a viable future for the label.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

EC stalls on 1.2bn EMI sale to Universal
Watchdog questions whether Universal is proposing to sell off enough of its vital US back catalogue, including rights Rihanna's music, in a move which could undermine its plans to buy EMI.<img width='1' height='1' src='http://telegraph.feedsportal.....

Foxtons' founder hunts for new market with offices 'like hotels'
Jon Hunt, the founder of estate agent Foxtons, has launched a luxury serviced office business as his latest venture.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/220e0853/mf.gif' border='0'/><br/><b.....

Banks see M&S as bid target after shares fall
Bankers at a number of London institutions are looking at Marks & Spencer as a potential 6bn bid target as the retailer's shares have slipped almost 50pc since their highs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

M&S share price drop opens door to future offer
With Marks & Spencer's shares on the wane, it is perhaps unsurprising that financiers have started to wonder if the retailer could be open to some form of third party offer.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Anya Hindmarch wraps up 30m deal
Anya Hindmarch, the luxury handbag company, has been sold to a Middle East investor in a private deal thought to value it in the region of 20 to 30m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/220e085b/mf.gif.....