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Monday 27 August 2012

UK Financial News on 2012-08-27

Apple seeks court ban on Samsung
Apple asks a court in California to ban eight Samsung devices from the US market, following a court victory over its South Korean rival......

Home-loan payments at 15-year low
Mortgage payments for qualifying borrowers are more affordable than at any time in the last 15 years, a new study by the Halifax suggests......

Labour seeks rail franchise delay
Labour urges ministers to delay signing a new contract for the West Coast Mainline franchise until Parliament can review the 10bn deal next week......

German business confidence falls
German business confidence falls for the fourth month in a row to a 29-month low, according to the closely-watched Ifo survey......

Hertz agrees Dollar Thrifty deal
Car hire company Hertz agrees a deal to buy rival Dollar Thrifty for $2.3bn, ending the long-running takeover battle for the US firm......

Profits dip at Chinese industries
China's industrial firms see a dip in profits for the fourth successive month, adding to fears about a sharp slowdown in China's economy......

PTT bids $960m for miner Sakari
The Thai energy giant PTT bids almost $1bn to take full control of Indonesian-focused coal miner Sakari......

Greek exit idea sparks German row
German centre-right politicians criticise a leading conservative partner for suggesting that Greece will have to leave the eurozone......

Unicredit 'in Iran investigation'
Italian bank Unicredit is co-operating with the US over a possible breach by a subsidiary of US sanctions reportedly against Iran......

Billabong swings to annual loss
Surfwear company Billabong reports its first annual loss since 2001, as it restructures its struggling business......

Mouchel: 8,000 jobs 'preserved'
Mouchel says its future is secured and 8,000 jobs will be preserved as the UK public-infrastructure group enters administration......

India coal scandal sparks protest
Police in Delhi baton-charge hundreds of protesters angered by a report that India lost $33bn (20bn) through the mis-selling of coalfields......

Aggreko in power talks with India
Scottish firm Aggreko is holding talks with Indian officials over the possible supply of temporary power in Delhi......

Virgin 'would run rail line free'
Virgin boss Sir Richard Branson offers to run the West Coast Mainline "for free" so Parliament can review the franchise's award to FirstGroup......

VIDEO: Damp weather hampers British farmers
Damp weather over the weekend has hampered the efforts of British farmers who are trying to finish harvesting......

VIDEO: MPs 'must keep green belt pledge'
Building on green belt land "is not the path to lasting economic prosperity", countryside campaigners have warned the government......

VIDEO: Samsung's Apple defeat hits shares
Shares in Samsung fell 7% in Seoul during Monday trading, their biggest one-day fall in almost four years, after the electronics giant lost its court battle with Apple......

VIDEO: Labour urges rail contract delay
Labour is urging ministers to delay signing a new West Coast Mainline contract until Parliament returns......

VIDEO: Branson: 'We will fight very hard'
Virgin Group boss Sir Richard Branson is backing Labour's call for the government to delay awarding the West Coast Mainline franchise to FirstGroup instead of Virgin Trains......

VIDEO: Samsung shares slide after Apple win
Samsung Electronics shares have tumbled more than 7% after Apple's legal victory in their US patent battle raised concerns about its lucrative smartphone business......

VIDEO: Chinese tourist boom for Thailand
The number of tourists from China visiting Thailand is about to overtake visitors from all other countries, providing a boost to the nation's economy......

Paralympics open up business opportunities
What do firms gain by sponsoring Paralympics?.....

China banks under pressure as loans turn sour
China banks under pressure as loans turn sour.....

Brazil strikes stern test for Rousseff
Brazil's president and unions at odds over wage claims.....

U.S. Day Ahead: More signs housing has turned a corner
Aug 27 - House prices are set to show their first ever year-on-year gain in almost 12 months when the S&P Case-Shiller index is released in the morning......

Economy 2012: Harman CEO say China's lux demand not dead yet
Aug 27 - There are no signs of a slowdown in luxury sales in China with consumers still buying high-end car brands like BMW, Porsche and Audi, according to Harman CEO, Dinesh Paliwal......

Trading at Noon: Best Buy deal is back on with Schulze
Aug 27 - Best Buy will let founder Richard Schulze conduct due diligence and form an investment group with private equity sponsors as he tries to take the retailer private......

Breakingviews: Apple v. Samsung
Aug 27 - Breakingviews columnists discuss the implications of Apples U.S. victory in the high-profile tech patent spat and the implications for future smartphone devices and lawsuits elsewhere......

Europe Day Ahead: Spanish bill sale, earnings in focus
Aug. 27 - Spain's short-term debt sale and corporate earnings will keep investors on their guard in the absence of major economic data, as the euro crisis gets closer to boiling point......

Iraq-Turkey oil pipeline shut down after fire
Aug. 27 - A pipeline carrying a quarter of Iraq's oil exports shuts down after fire in Turkey that authorities suspect is sabotage.Rough Cut (no reporter narration)......

3XSQ: Apple boosted by billion dollar Samsung verdict
Aug 27 - Apple shares opened 2.5 percent higher after winning its patent battle with Samsung while Samsung sputtered, losing $12 billion in market value......

Market Pulse: Rising uncertainty fuels growing...complacency?
Aug. 27 - European markets trading steadily, despite the growing uncertainty surrounding Greece, the euro zone, and the ECB's "whatever it takes" next steps. AXA's Eric Chaney explains why......

Forget Apple's lawsuit: 5 reasons you must buy Samsung
' Jon Gordon......

China flexes its naval muscles
Aug. 27 - China is spending billions of dollars to build its navy as the worlds number two economy seeks to protect its interests in the Pacific and the United States pours more resources into the region......

Reuters Today: Reasons to be cheerful for Samsung
Aug. 27 - A $1 bln fine and $12 bln market cap plunge for Samsung, but in the battle with Apple, the Korean tech giant is not down and out. Plus, a warning from Angela Merkel to fellow Germans......

Take 2 for Second Life creator
Technology Correspondent Matt Cowan reports from San Francisco......

London ends Olympic white elephant curse
Aug. 27 - The London Olympics were a great success, but what will be their legacy? Future host cities of the Olympics and other big sporting events are due to follow London's use of temporary venues and stadiums, as environmental concerns and the glo.....

U.S. Morning Call: Apple set to hit new high on patent win
Aug 27 - Apple is poised to reach new highs this morning after winning its patent case, while Samsung Electronics shares slumped 7.5 percent......

Website keeps endangered frogs alive online
Aug. 26 - A website devoted to amphibian discovery has just recorded its 3,000th new species, an achievement that belies the crisis facing frogs, salamanders and other amphibians around the world. Set up by scientists in California, Amphibiaweb aims .....

Explosion kills 39 at oil refinery
Aug. 25 - At least 39 are dead, with more than 50 wounded, after a gas leak triggered an explosion at Venezuela's biggest oil refinery. Jessica Gray reports......

Help for Pakistan's dairy industry
Aug 26 - Pakistan taking steps to improve it's dairy industry. Julie Noce reports......

Week ahead in business and economics: August 28 to 31
Tesco update, a possible WPP revolt and the Mansion House dinner.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22cacb95/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/13926.....

G4S in line for 50m loss on Olympic Games fiasco
G4S, the company at the centre of the Olympics security shambles, is expected to report a 50m loss tomorrow against the disastrous contract.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22cac7ae/mf.gif' border=.....

Disney may take control of Paris park
The Walt Disney Company is considering buying out the loss-making Disneyland Paris theme park complex.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22cac7af/mf.gif' border='0'/><br/><br/><a hr.....

OBR caused George Osborne 'no end of trouble'
Economic forecasts produced for George Osborne by the Office of Budget Responsibility have been "appalling" and caused the Chancellor "no end of trouble", it has been claimed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Services sector hit by fall in business
Pessimism in the service sector is deepening after hopes of a recovery were dashed by a further slide in business and confidence and a drop in profits over the past three months, according to the CBI.<img width='1' height='1' src='http://telegraph.....

Banking revolution planned for high street
The traditional bank branch and manager could become a thing of the past under proposals set out by a leading financial services industry consultant.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22ca6d21/mf.gif.....

Apple shares soar after court victory, while rivals suffer
Apple shares surged to a record high and Samsung and Google's fell, as investors reacted to the iPhone maker's US courtroom victory that threatens to reshape the smartphone industry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Debt crisis: Greek government signs 330m settlement with Siemens
It is not quite the bail-out booster Greeks were hoping for, but Athens has extracted 330m from Siemens, the German engineering group, in settlement of corruption charges.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

BBC may axe 'in-house' production and open up to competition
The BBC is under pressure to axe or significantly scale back its in-house television production unit, and order more programmes from outside companies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22cabcf3/mf.g.....

Britain can still profit from global trade while remaining in the EU
For the first time in decades, Britain may be trading more with countries outside the European Union than within it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22ca5412/mf.gif' border='0'/><br/><b.....

Cold War trade restriction hitting US companies in Russia
American companies are lobbying for cancellation of a 40-year-old Cold War trade restriction which is preventing them from cashing in on Russia's accession to the World Trade Organisation.<img width='1' height='1' src='http://telegraph.feedsportal.....

Spanish drivers hit by 'council stealth tax'
Indebted town councils across Spain are targeting motorists in a bid to raise revenue much to the disgust of disgruntled residents.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22ca6053/mf.gif' border='0'/>&.....

Run on Vietnam's biggest bank highlights threat to economy
The deliveries of truck loads of money and queues outside branches of Vietnam's biggest lender, Asia Commercial Bank, ready to withdraw their cash almost as quickly as stocks were replenished were an eloquent expression of the fears stalking the coun.....

Port in a financial storm: China's export hub hit
In the capital of Chinese exports, falling orders are starting to bite, but some hope that imports will soon make up the gap.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22ca605a/mf.gif' border='0'/><br/.....

Orange owner and MasterCard link up for mobile payments
Britain's biggest mobile phone operator, Everything Everywhere, is to launch a "wave-and-pay" service that will allow users to leave their wallets at home and pay for goods via their mobiles instead.<img width='1' height='1' src='http://telegraph......

Creating a business bank is the bold move needed for growth
As the denizens of Whitehall and Westminster continue to puzzle over Britain's rocky growth trajectory, they would do well to listen to the rising chorus coming from businesses across the land.<img width='1' height='1' src='http://telegraph.feedsp.....

David Lloyd eyes high street expansion
The leisure group is starting smaller studio gyms in town centres.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c9c220/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1392.....

Blur hires broker to examine share sale
The online business services company has sought funding from angel investors in the past.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c9c8cb/mf.gif' border='0'/>.....

Debt crisis: German business confidence falls for the fourth month in a row
German business confidence it at is lowest level for more than two years according to figures that underscore the drag of the debt crisis on Europe's powerhouse economy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Jackson Hole: the only 'shock and awe' will be coming from the Rocky mountains, not the Fed
'Shock and awe' is the shorthand commonly used to describe the Federal Reserve's response to the financial crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c9c222/mf.gif' border='0'/><br/><br/.....

Spanish MP apologises after saying he has a 'tough time' living on 5,100 a month
A Spanish lawmaker's hardship tale of barely scraping by on 5,100 euros (4,000) a month has prompted a deluge of derision in recession-hit Spain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c8832d/mf.gif' bo.....

BP recalls two million gallons of petrol after thousands complain of problems
BP has been forced to recall more than 2 million gallons of petrol after thousands of motorists complained of problems with their cars.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c82609/mf.gif' border='0'/&.....

Unilever sees 'return to poverty' in Europe
Unilever will adopt marketing strategies used in developing countries in order to drive future growth in Europe, as it warned that poverty will rise in the region as a result of the debt crisis.<img width='1' height='1' src='http://telegraph.feeds.....

Death in Venice becomes cheaper as bidding war breaks out between funeral operators
The economic crisis in Italy has sparked a bidding war between Venetian funeral operators in the lagoon city.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/22c75276/mf.gif' border='0'/><br/><br/>&.....

Debt crisis: German business confidence slumps
Business confidence in Germany dropped to its lowest level in nearly two and a half years in August, as Europe's biggest economy feels the pain from the debt crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....