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Friday 17 August 2012

UK Financial News on 2012-08-17

Private rents 'hit record high'
The average rent paid by private tenants in England and Wales reached a new record in July, of 725 a month, a letting group says......

Lonmin urges miners back to work
Lonmin tells workers "we need to get mining again" after staff are killed at Marikana platinum mine in South Africa during clashes with police......

Tech giant names paid influencers
Oracle reveals financial ties to a blogger and professor, but Google names no-one after a judge raised concerns about coverage of a recent trial......

'Next-door' post scheme extended
A scheme to deliver post to a neighbour if no-one is at home is to be extended across the UK after a successful three-month trial......

Developer anger at Twitter change
Developers who create Twitter apps with more than 100,000 users now need to seek the social network's permission to continue operating......

Russian bloggers criticise Audi car gifts for Olympic medallists
Russian internet users criticise President Putin's award of a brand new Audi car to each medal-winning Russian Olympic athlete......

Eurozone trade surplus hits high
The eurozone's trade surplus hit a record high of 14.9bn euros in June, figures from Eurostat show......

Dreamliner arrives in Ethiopia
Ethiopia becomes the second country after Japan to take delivery of Boeing's flagship plane, the 787 Dreamliner......

Travelodge chain agrees debt deal
Hotel chain Travelodge agrees a deal with investors to cut its debts substantially, which it says will secure the long-term future of the business......

Sharp shares rise on fresh hopes
Shares in Sharp surge amid speculation Taiwan's Hon Hai may double its stake in the struggling Japanese electronics group......

Casinos and online bets help Rank
Profits at betting group Rank rise 9% thanks to growth in its Grosvenor Casinos business and its online operations......

Fitness-to-work contract 'flawed'
The National Audit Office finds failings in the contract between the government and Atos, the company carrying out fitness-to-work tests......

Euro crisis 'risk' to prawn sales
The eurozone crisis has threatened sales of shellfish from Scotland, the fishing industry in the Highlands and Islands has warned......

Unilever quits as Turbine sponsor
Unilever ends its 4.41m sponsorship of Tate Modern's Turbine Hall commission, which has seen artists including Ai Weiwei, Anish Kapoor and Rachel Whiteread create free works of art in the venue......

China eyes African Barrick stake
China National Gold holds preliminary talks to buy a stake in African Barrick Gold, one of Africa's largest gold miners......

Bank under fire over compensation
The Ulster bank is criticised for its continuing delay in compensating customers affected by a computer failure in June......

Energy experts hook up with Korea
Marine energy experts in Scotland are to advise South Korea on building a tidal power testing centre......

Apple lawyer 'smoking crack' jibe
A judge says Apple's lawyer must be on drugs to think he can call 22 rebuttal witnesses in a patent trial against Samsung......

The Dandy to print final edition
The publisher of one of the world's longest-running children's comics, The Dandy, says it will stop printing the title......

HSBC pulls 2.99% mortgage rate
HSBC has withdrawn the 2.99% five-year mortgage deal which it launched just a month ago......

Singapore exports get Asian boost
Singapore's non-oil exports rise in July as robust demand from Asia helps offset a decline in shipments to Western economies......

UK retail sales increase in July
A surprise rise in UK retail sales during July and an upward revision to June's figure raises hopes the recession may not be as deep as thought......

Streaming music revenues up 40%
Streaming music services like Spotify and We7 will generate 696m for the global music industry in 2012, a rise of 40%, new research suggests......

Oil firms in 165m merger deal
Oil firms Melrose Resources and Petroceltic agree to merge in a deal which strengthens the company's presence in North Africa......

Man Utd signs up Bwin as sponsor
Manchester United signs a three-year sponsorship deal with sports betting company Bwin, making it the clubs official online betting partner......

Nigeria to overhaul sports set-up
Nigeria's President Goodluck Jonathan orders an overhaul of the sports sector following the country's failure to win a single medal at the Olympics......

VIDEO: Remploy factories shut for final time
Five Remploy sites across north-west England, including one in Wigan, have closed their doors for the final time......

VIDEO: Travelodge chain agrees debt deal
Hotel chain Travelodge has agreed a deal to cut its debts substantially, which it says will secure the long-term future of the business......

AUDIO: 'Next-door' post scheme explained
The Royal Mail's Barbara Roulston told 5 live why parcels would be delivered to neighbours when the recipient was not at home......

AUDIO: Can UK compete with Silicon Valley?
The UK's 'silicon roundabout' or 'Tech City' in east London is the focus for the UK's technology sector, but can it compete with the US?.....

AUDIO: Man in charge of air traffic control
Head of UK Air Traffic Control Richard Deakin speaks to Simon Jack about moving over six thousand flights a day through the skies and... about UFOs......

VIDEO: How can Facebook justify valuation?
Facebook shares have fallen heavily as the first lock-up period, which stops sales by early investors, ended......

VIDEO: UK urged to improve trade exports
The Chancellor has called on UK firms to double exports to 1tn by the end of the decade, to help the country trade our way out of recession. However in places like Newcastle exporting is going well......

VIDEO: Iraq moves up Opec oil production list
Iraq has overtaken Iran as the second largest oil producer in the Opec oil cartel according to the International Energy Agency......

Brazil 2014 on track say organisers
Brazil works to get ready for the 2014 World Cup.....

North East leads the way on exports
The North East cheese firm taking mozzarella to the Middle East.....

Analytics must be centre stage
Giving businesses the power to think quickly and accurately.....

Ramadan: Impact on business during holy month
How does Ramadan affect businesses?.....

Coping with Northern Ireland's burst property bubble
Coping with Northern Ireland's burst property bubble.....

Italian town divided over polluting steelworks
Aug 17 - An Italian town is split between environmentalists wanting the steel plant closed and steelworkers wanting to keep their jobs as Industry and Environment Ministers hold talks with local authorities and company officials. Conway G. Gittens re.....

U.S. Week Ahead: Dell and HP try to reboot
Aug 17 - In the wake of a flagging PC market, Dell and HP are trying to change their business models and serve larger corporate clients. We will get a progress update when they report earnings......

Anti-tobacco laws gain traction
Aug 17 - Australia's highest court endorsed tough new anti-tobacco marketing laws and legislation is making its way through Argentina and Venezuela as countries around the world try to help fight smoking. Carmen Roberts reports......

The Exchange: Who Stole the American Dream?
Thats the question Frances Causeys new documentary Heist tries to answer. Rob Cox speaks with her about the film and its premise that Big Business has captured the American political system......

Trading at Noon: Apple hits new high; Facebook a new low
Aug 17 - Apple's stock price hit an all-time high above $644 today while Facebook continues to slide, hitting a new all time low of $19.04......

Wealth Strategies: Investors benefit from trading technology
Aug. 17 - TD Ameritrade's Tom Bradley says that while typical retail investors should not be involved in high-frequency trading, advances in technology have reduced costs to investors and traders overall......

Breakingviews: The future of Aunt Frannie
Aug 17 - The U.S. Treasury struck an agreement to expedite the wind-down of Fannie and Freddie, even as the mortgage giants mint profits. Rob Cox and Breakingviews columnists ask what happens next......

Saft Says: The cult of equities needs to be deprogrammed
columnist James Saft says the cult of equities is not dead but certainly needs to be rethought as the equity market continues its volatile journey......

Europe Weak Ahead: Greek PM's euro tour no holiday
Aug. 17 - Greek Prime Minister Antonis Samaras heads for Berlin and Paris next week to ask for more time to meet budget deficit targets, but he may not be in for a warm welcome......

Economy 2012: Low rates have made things expensive for P/E
Aug. 17 - Len Tannenbaum, CEO of private equity lender Fifth Street Finance, says the artificially low interest rate environment has led to expanded valuations in the market, making it difficult to find deals......

Man U strikes a deal
Manchester United unveils a new sponsor after announcing that its agreed a transfer deal to bring in Dutch striker Robin Van Persie just days ahead of the beginning of the Premier League season. Matt Cowan reports......

3XSQ: Zuckerberg feeling the pain over Facebook's selloff
Aug 17 - The Wall Street Journal reports Facebook CEO Mark Zuckerberg has started addressing the company's stock price with employees, calling it "painful" to watch......

Reuters Asks: Is the bigger threat inflation or deflation?
Aug. 17 - Despite the recent spike in corn and food prices, do deflationary forces still pose the bigger threat to the world economy?.....

Olympic 'bounce' seen boosting UK
poll. Hayley Platt reports......

'Desperate Debra' delivers caesarean lesson for student doctors
Aug. 17 - Junior doctors in the UK are being trained to deal with late-stage emergency caesareans using a novel approach with a life-like pregnancy simulator. Called "Desperate Debra' the simulator is designed to replicate a real woman in distress du.....

Market Pulse: Brent bears the brunt as US mulls oil release
exclusively reports that the US may release some of its strategic oil reserves onto the market......

Reuters Breakingviews: No easy solutions in mining dispute
Aug. 17 - The South African mining dispute has major implications for mining groups. The South African government needs to step in and restore order, says Breakingviews......

Asia on edge as food prices climb
Aug. 17 - Already contending with weak growth, Asian policymakers are on guard for signs of unrest resurfacing in the region as food prices soar......

Reuters Today: Merkel euro backing boosts shares
Aug. 17 - Global stocks get a boost after the German Chancellor Angela Merkel renews her commitment to protecting the euro and calls for a rapid move to closer union.....

Asia Week Ahead: China earnings, Apple-Samsung battle eyed
Aug. 17 - Japan trade data to reveal weak spots in the global economy, a raft of China earnings will reflect demand on the mainland, and Apple's battle with Samsung in a U.S. courtroom draws to a close......

U.S. Morning Call: Stock futures mixed; Facebook reeling
Aug 17 - U.S. stock futures are pointing to a mixed open on Wall Street, with European shares hitting a five-month high......

Wall Street to Merkel: "Danke"
Aug 16 - Summary of business headlines: Stocks have best day in two weeks after Germany's Angela Merkel hints EU still working to resolve debt crisis; U.S. economic still cloudy; Facebook shares sink; Wal-Mart beats but cautious. Conway G. Gittens re.....

Wal-Mart's world of worry
Aug 16 - Wal-Mart stock fell on news that full-year profits could fall short as international growth slows. But its U.S. discount stores continue to rebound- further evidence there are still signs of life in retail. Bobbi Rebell reports......

U.S. Day Ahead: Get set for a possible rally
Correspondent Ed Krudy......

Merkel backs Draghi, chides politicans
Aug. 16 - During a visit to Canada, German Chancellor Angela Merkel pushed for faster fiscal euro zone cooperation as a way to restore market confidence and backed a pledge by the European Central Bank to do "whatever it takes" to save the euro. Conw.....

Facebook shares plummet to half price
Facebook shares were worth just half of their $38 (24.21) flotation price on Friday, falling by 50pc in just three months to hit the unwelcome milestone and record low of $19.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Appointment of new Bank of England Governor 'could be delayed'
The Treasury is likely to be forced to delay the appointment of a new Governor of the Bank of England after several of the favourites for the job were tainted by fallout from the financial crisis.<img width='1' height='1' src='http://telegraph.fee.....

Good News Britain: Furniture maker Senator eyes new markets
Senator, the Lancashire-based furniture company, is eyeing new export markets after sales topped 100m for the first time.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227d1f08/mf.gif' border='0'/><br/>.....

Good News Britain: Senator International constantly looking for reinvention
I believe Senator International continues to outperform the market when business is really challenging because we continue to innovate and invest heavily in products and infrastructure - and offer levels of service not available elsewhere.<img wid.....

Carlyle gets Chemring in its sights
Chemring, the high-technology British defence and aerospace equipment maker, has received a takeover approach from private equity firm Carlyle.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227d19c3/mf.gif' bord.....

Lonmin attempts to defuse mine violence
Lonmin has admitted it has much to do to rebuild trust at its South African platinum mines after police killed 34 striking miners in an operation that has rekindled memories of apartheid and shocked the industry.<img width='1' height='1' src='http.....

Lonmin mining massacre shocks investors with flashback to apartheid South Africa
Violent clashes at Lonmin's Marikana platinum mine, brutally put down by the police, have left another 34 dead and raised the pressure on the cash-strapped company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

A positive outlook will stimulate the economy
Telegraph View: It is important that our political leaders do not dent confidence by being overly pessimistic<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227ced93/mf.gif' border='0'/><br/><br/>&.....

Blue-chips edge higher to cap off a tepid week
The FTSE 100 was little changed on the week, with most of the excitement taking place among the mid-caps.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227cb8cc/mf.gif' border='0'/><br/><br/><a.....

Debt crisis: Finnish coalition divided over euro
Finland is totally committed to the euro, its European affairs minister said following comments from its foreign minister that the country was preparing for a break up of the single currency.<img width='1' height='1' src='http://telegraph.feedspor.....

Mark Thompson in line for up to $10.5m at The New York Times
Mark Thompson was beset by pay rows at the BBC, where he took home 671,000 a year, but he could receive up to $10.5m when he joins The New York Times.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227c416b/mf.gi.....

One in three will have nothing to leave their heirs
A third of Britons expect to struggle to leave their families money once they are gone, leaving those behind without an inheritance to help pay their way, research shows.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Facebook share price hits record low
Facebook's share price came within one cent of half its $38 flotation price just three months ago today, hitting a record low of $19.01.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227bc25e/mf.gif' border='0'/.....

Debt crisis: as it happened - August 17, 2012
Finland is preparing for the break-up of the eurozone, the country's foreign minister has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227bbde3/mf.gif' border='0'/><br/><br/><a href="h.....

Madrid mayor says Spain rescue 'seems inevitable'
The mayor of Madrid, a prominent member of Spain's ruling party, said it "seems inevitable" the central government would apply for some kind of international aid package.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Debt crisis: live
Finland is preparing for the break-up of the eurozone, the country's foreign minister has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2276b977/mf.gif' border='0'/><br/><br/><a href="h.....

Questor: more digging for returns in gold
Questor editor Garry White says gold miners' consolidation offers opportunities.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227b5729/mf.gif' border='0'/>.....

Rank Group casinos defy downturn to post increased revenues
Britain's double-dip recession failed to prevent customers from taking a punt in Rank Group's casinos and online gaming platforms last year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227b32fc/mf.gif' border=.....

Falling cost of recycled materials hits Viridor
Falling prices of recycled materials have seen trading plunge at Pennon's waste business Viridor, which until recently was seen as the company's growth engine.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227ae.....

GlaxoSmithKline asthma drug cuts number of attacks
A clinical trial of GlaxoSmithKline's drug for people with severe asthma nearly halved the number attacks suffered by people with a difficult-to-treat type of the disease.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Rent rises to new high
The average monthly rent in the UK is now 725 - rising at a rate of 2.9pc a year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227aeca7/mf.gif' border='0'/><br/><br/><a href="http://da.feedspo.....

Libor scandal: Lloyds Banking Group summoned by US regulators
Pressure on banking sector over Libor-rigging scandal ramped up after seven banks, including the Royal Bank of Scotland and HSBC, issued with subpoenas in the US.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22.....

FirstGroup's credit rating could be cut to 'junk' if West Coast deal increases debt
FirstGroup's credit rating could be cut to "junk" within two years if its 5.5bn deal to run the West Coast rail franchise leads to a sharp increase in debt levels, S&P warns.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

Eurozone politicians at odds over break-up
Holland's finance minister defended the euro, saying the country never speculates about a break-up, after Finland's foreign minister warned the country was preparing for the single currency to split.<img width='1' height='1' src='http://telegraph......

Mark Zuckerberg admits Facebook stock tumble is 'painful' to watch
Mark Zuckerberg has reportedly admitted Facebook's stock market tumble has been "painful" to watch, at a meeting designed to boost staff morale.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/227b572a/mf.gif' bor.....