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Sunday 19 August 2012

UK Financial News on 2012-08-19

CME Group plots new European exchange launch
Regulatory application imminent as world's largest bourse by market cap eyes aggressive expansion.....

Act now, Darling urges Osborne
Chancellor George Osborne must change course on the economy as he has "given up on any plan for growth", Labour predecessor Alistair Darling warns......

Diamond hits back at MPs' claims
Former Barclays chief Bob Diamond hits back at claims he was "highly selective" in his evidence to MPs during the Libor rate-fixing scandal......

Store attacks Sunday trading plan
Sainsbury's chief attacks government plans to extend Sunday trading hours, saying it is no 'magic answer' to the UK's current economic problems......

Mourning for South Africa miners
South Africa's president declares a one-week period of national mourning for the striking miners killed in violence at a platinum mine......

Heineken wins Tiger beer control
Heineken agrees to buy Fraser and Neave's controlling stake in the maker of Tiger beer in a deal worth 5.6bn Singapore dollars (US$4.5bn, 2.8bn)......

Asia gets its fastest data cable
A new high-speed undersea data cable, Asia Submarine-cable Express, opens to traffic in Asia potentially aiding financial traders......

Pernod trailblazer Ricard dies
Patrick Ricard, the French head of the global spirits firm Pernod Ricard - whose father founded the firm in 1932 - dies at the age of 67......

MPs urge bank changes over Libor
MPs on the Treasury Select Committee have demanded wide-ranging changes in the wake of the Libor rate-fixing scandal......

VIDEO: Hidden cost of internet 'bargains'
Websites could be banned from using premium rate helplines and loading hidden charges onto online bookings......

VIDEO: Can 'Brand USA' bring in tourists?
A marketing campaign aimed at attracting more holiday-makers to the United States is moving into a second phase - with Brazil and South Korea to be targeted with promotional advertising......

VIDEO: Longer Sunday trading 'won't work'
Labour has criticised the suggestion that the government is considering the relaxation of Sunday trading laws to try to boost the economy......

AUDIO: 'New broom' needed on bank regulation
MPs on the Treasury Select Committee have demanded wide-ranging changes in the wake of the Libor rate-fixing scandal. Andrew Tyrie, the chairman of the Treasury Select Committee and David Green, former head of international policy at the FSA discuss .....

VIDEO: Mine violence 'beyond our control'
Simon Scott, the finance director of Lonmin, said a strike at one of its mines which escalated into violence was ''beyond our control''......

AUDIO: Roman outsourcing: 'A back-scratching deal'
News that Virgin had lost the franchise to run the West Coast main line broke this week. But the issue of how much a private company should bid to run a public service was something the ancient Romans had to grapple with as well as Mary Beard, Profes.....

VIDEO: Ethiopia welcomes first Dreamliner
Ethiopia has become the second country after Japan to take delivery of the Boeing 787 Dreamliner......

VIDEO: Your Money: Train ticket savings tips
In this week's Your Money, Susannah Streeter examines how to combat the rising cost of train fares and looks at the financial challenges facing students......

Magnet trial an attractive option for kids with sunken chest
Aug 19 - Surgeons at the UCSF Benioff Children's Hospital in San Francisco are using magnets to reshape the breastbones of children who suffer from Sunken Chest Syndrome. The technique is undergoing phase 3 clinical trials, but the doctors hope to pr.....

Premier League transfer fees fall as eurozone crisis bites
Robin Van Persie may have swapped Arsenal for Manchester United for more than 20m, but the eurozone debt crisis, a tax clampdown, and new financial fair play regulations have combined to lower spending on transfers by football clubs this summer, acco.....

Premier League transfer fees fall as eurozone crisis bites
Robin Van Persie may have swapped Arsenal for Manchester United for more than 20m, but the eurozone debt crisis, a tax clampdown, and new financial fair play regulations have combined to lower spending on transfers by football clubs this summer, acco.....

London Olympics 2012: Pension funds could back Olympic Park housing developments
The head of the organisation that will take control of the Olympic Park after the Paralympics wants overseas pension funds to help pay for housing developments on the site.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

London Olympics 2012: Pension funds could fund Olympic Park housing developments
The head of the organisation that will take control of the Olympic Park after the Paralympics wants overseas pension funds to help pay for housing developments on the site.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

London Olympics 2012: Daniel Moylan on Olympic Park plan
Daniel Moylan is the man with the answer to the question everyone who went the London 2012 Olympics is now asking. What will happen to Olympic Park after the Olympics and the Paralympics?<img width='1' height='1' src='http://telegraph.feedsportal......

Lonmin tells striking South African workers to return to work or risk losing their jobs
FTSE 100 miner Lonmin has ordered employees at the South African mine where 34 workers were shot dead to return to work or risk losing their jobs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/228773a4/mf.gif' b.....

Glencore and Xstrata deal hangs in the balance
Glencore's $26bn (16.5bn) bid for Xstrata hangs in the balance this week with chief executive Ivan Glasenberg set to resist calls to increase his offer when the commodities trader posts interim results.<img width='1' height='1' src='http://telegra.....

The British economy faces three very different futures
The glass half empty view of the British economy notes we've had the deepest recession since the 1920s and the slowest recovery and highest budget deficit on record.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

CME 'plans European derivatives exchange'
CME Group, the world's largest bourse by market capitalisation, is planning to open a derivatives exchange in Europe, according to reports.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22874c76/mf.gif' border='.....

Pension plans 'unfair to women'
Plans to get an extra 8m people saving for retirement risk increasing the pensions savings gap between men and women.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2286e71e/mf.gif' border='0'/><br/><.....

Chancellor George Osborne 'must tax and go for growth'
George Osborne is being urged to spend billions of pounds on road and rail schemes to pull Britain out of recession.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/228773a2/mf.gif' border='0'/>.....

Chancellor George Osborne needs radical rethink on policy, top economists say
The Chancellor must consider radical action including spending on infrastructure and abolishing stamp duty to put Britain back on the path to growth, according to some of Britain's leading economists.<img width='1' height='1' src='http://telegraph.....

Swap mis-selling victims to wait nine months for review
Small businesses that could have been mis-sold complex interest rate derivatives face a wait of up to nine months to find out whether they are entitled to any compensation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Diageo close to $3bn deal for Jose Cuervo tequila
Diageo, the company behind Johnnie Walker whiskey and Tanqueray gin, is close to adding Jose Cuervo tequila to its drinks cabinet.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2286e35a/mf.gif' border='0'/>&l.....

Italian tax inspectors go undercover on beaches
As millions of Italians soak up the sun on their annual summer holidays, not even the beaches are safe from the scrutiny of the country's tax police.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2287012e/mf.gif.....

That's Life! could return if Esther Rantzen succeeds in local TV bid
That's Life! could make a return to television screens in Oxford and Southampton, if its presenter Esther Rantzen is successful in her bid to launch new local television stations in the cities.<img width='1' height='1' src='http://telegraph.feedsp.....

It's time to try something radical to save the UK economy
Government must do more to help an economy that has shrunk 4pc.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2286dc75/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1392648.....

Are we about to see a Chinese gold rush?
Market watchers are split on what will now happen to the gold price.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2286a9aa/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/13.....

Euro must not pit North against South, says Italian PM Mario Monti
The euro must not become a "break-up factor" that pits northern Europe against crisis-choked nations in the south of the continent, Italian Prime Minister Mario Monti has said.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Keeping the lights on: Could the UK be plunged into darkness?
Government attempts massive overhaul of our energy infrastructure.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22867c46/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1392.....

Debt crisis: Greece must remain in eurozone, minister warns
Greece must remain in the euro to survive according to its finance minister, as the country's leader prepares for a week of crucial meetings with eurozone leaders which could ultimately determine its fate.<img width='1' height='1' src='http://tele.....

Debt crisis: Greece must remain in eurozone, minister warns
Greece must remain in the euro to survive according to its finance minister, as the country's leader prepares for a week of crucial meetings with eurozone leaders which could ultimately determine its fate.<img width='1' height='1' src='http://tele.....

Week ahead: August 20 - August 24
The Office for National Statistics publishes its second estimate of UK GDP for the three months to June, and is expected to revise the figure from -0.7pc to -0.5pc.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Forget QE, what the UK needs is a better transport system
Economic growth has become a major concern in Western economies. And the UK is no exception.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22860de3/mf.gif' border='0'/><br/><br/><a href="http:/.....

Russian Bear stops Finland leaving euro
German eurosceptics quietly hope that Finland will become the first creditor state to storm out of monetary union in disgust, opening the way for others to break free.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....