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Wednesday 12 September 2012

UK Financial News on 2012-09-12

AHL struggles to regain momentum after hiring spree
AHL is struggling to regain momentum and find the right structure for the large number of hires it made.....

BAE and EADS in talks over merger
UK defence contractor BAE Systems says it is in talks with European aerospace firm EADS over a possible merger......

Banker fined over HBOS collapse
A former HBOS executive is fined 500,000 by the UK financial regulator over his role in the bank's collapse......

UK unemployment falls by 7,000
The number of people out of work fell by 7,000 to 2.59 million in the three months to July, according to the Office for National Statistics......

Apple unveils 4G-enabled iPhone 5
Apple reveals the iPhone 5, revamping a line-up that accounted for more than half of its sales......

Premiership Rugby and BT in deal
Premiership Rugby signs a four-year broadcasting deal with telecoms firm BT worth 152m......

Platinum firm shuts S Africa mine
UK-listed miner Anglo American suspends operations at a platinum mine in South Africa to "protect the safety of its employees"......

Facebook boss laments stock drop
The boss of Facebook speaks for the first time of the drop in the social network's market value, calling the halving of its share price "disappointing"......

EU's Barroso seeks 'federation'
Plans to give the European Central Bank much greater powers of oversight and regulation over Europe's 6,000 banks are announced......

First-time buyer deposits drop
Mortgage deposit levels for first-time buyers have fallen below 20% for the first time in more than three years, the industry body says......

Summer rainfall 'hit B&Q profits'
B&Q's owner Kingfisher says the summer's heavy rainfall cut its profits in the UK and northern Europe by 30m......

Housebuilder Barratt profits jump
UK homebuilder Barratt Developments saw a strong bounce in profits in the past financial year, helped by lower land prices......

German court backs bailout fund
Germany's top court rejects calls to block the permanent eurozone rescue fund, but imposes limits on Germany's contribution......

Rangers tax decision 'in October'
BBC Scotland learns that a verdict on the First Tier Tax tribunal between Rangers and HM Revenue & Customs is expected in October......

India factory output flat in July
India's industrial output was flat in July, adding to fears the country's economic growth spurt is over......

Russia plans biggest icebreaker
Russia's plans to build the world's biggest nuclear icebreaker are aimed at enhancing commercial opportunities, says a researcher......

Extra 500m squeezed from rich
An extra 500m pounds has been squeezed out of the UK's 5,000 wealthiest taxpayers, according to HM Revenue & Customs......

PPI complaints deluge hits banks
Fresh complaints about the mis-selling of payment protection insurance continue to flood into the Financial Ombudsman Service......

Dutch pro-Europe parties in lead
Two pro-European centrist parties have taken the lead in the Dutch election while the populist Freedom Party faces heavy losses, exit polls suggest......

Cable confirms business bank plan
Vince Cable confirms that the government is moving ahead with plans for a government-backed "business bank" to boost lending to UK firms......

Wen: 'Chinese economy on track'
China's Premier, Wen Jiabao, tells the World Economic Forum in Tianjin that his country is on track to hit growth targets for this year......

Regulator fines Blackrock 9.5m
The Financial Services Authority (FSA) fines Blackrock Investment Management (BIM) 9.5m for failing to protect client money adequately......

Putin looks 'to protect' Gazprom
Russian President Vladimir Putin signs a decree forbidding state-owned firms from giving information to foreign authorities, just days after the EU said it would investigate Gazprom......

Banks accused over Italian deals
Several UK-based investment banks have been accused of mis-selling financial products worth 35bn euros (28bn) to Italian cities and regions......

Davis match under investigation
A match involving former world champion Steve Davis and Thepchaiya Un-Nooh is at the centre of an investigation into betting patterns......

G4S expects full Olympic payment
The head of security firm G4S tells MPs he expects the firm to be paid the full 235m contract for the Olympics despite the problems over staffing......

Uefa imposes financial penalties
Uefa imposes its first financial fair play sanctions by withholding prize money from 23 clubs for failing to comply with the rules......

VIDEO: EU chief Barroso on the future of Europe
EU Commission President Jose Manuel Barroso has said that the EU will remain "highly relevant" to the people of Europe for years to come......

VIDEO: UK unemployment falls again
The number of people out of work fell by 7,000 to 2.59 million in the three months to July, compared with the previous three month period......

VIDEO: BMW owners hit by hi-tech theft
Reporter Riz Lateef investigates how thieves are able to steal high performance cars without using the owner's keys......

VIDEO: Government 'lukewarm' on HS2?
Former minister Cheryl Gillan claimed the government appeared to be going "lukewarm" on the high speed HS2 rail project, initially running from London to Birmingham......

VIDEO: Facebook boss: 'Building a mission'
The boss of social network Facebook has spoken for the first time of the drop in his company's market value......

VIDEO: Tax fraud banker gets $104m award
The US Internal Revenue Service awards $104m (65m) to a convicted former banker who informed US tax authorities about overseas tax cheats......

VIDEO: Royals launch Rolls Royce engine
The Duke and Duchess of Cambridge have visited a Rolls Royce factory during their trip to Singapore and unveiled the first plane engine to be produced there......

AUDIO: Is an MBA worth the money?
We are led to believe that a Masters in Business Administration will sprinkle gold dust over any CV. But with courses now costing up to 35,000, are they worth the price?.....

How to become your own boss
Entrepreneurs tips for setting up a new business.....

Slower growth a catalyst for change?
Some want to push China into more economic reforms.....

Making Philippine food more mainstream
Young Philippine chefs look to take national cuisine mainstream.....

A new sign of the financial times
If you're lucky, you'll see a lot more of this signature.....

German firms question eurozone's value
European firms resent paying for eurozone rescue.....

Huawei: Controversial success story
The remarkable rise of telecoms giant Huawei.....

Dutch vent frustrations at euro
Dutch vent frustrations at single currency.....

U.S. Day Ahead: Ben Bernanke to unveil updated device
Sep 12 - A day after Apple takes the wraps off the iPhone 5, the Fed is expected to unveil its latest device, QE3......

Rogers: Fed created bond market bubble to pop soon
Sept. 12 - International investor Jim Rogers says all that the Fed has done with QE is to artificially inflate stock and bond markets. He argues the central bank could push the U.S. into another recession......

Deeper union for Europe's banks
Sept. 12 - The European Commission's plan for the Central Bank to oversee individual banks in the euro zone has been met with cool response from Germany, which says fewer banks should be involved. Joanne Nicholson reports.....

Wealth Strategies: Would life be worse without QE? Maybe not
Sep 12 - Cumberland Advisors' David Kotok says arguments that the Federal Reserve's quantitative easing programs saved millions of jobs aren't necessarily valid and points out the danger of too much stimulus......

Trading at Noon: FB shares rally on Zuckerberg's remarks
Sep 12 - Facebook CEO Mark Zuckerberg eased investor fears in his first major public appearance since his company's IPO, sending shares up today......

Breakingviews: Zuckerberg Unbound
Sept 12 - Rob Cox and Breakingviews columnists discuss the Facebook CEOs first public comments since its botched IPO......

Europe Day Ahead: Fed QE expected, iPhone launch
say there's a 65% chance the Federal Reserve will announce a third round of quantitative easing, while the tech world is eagerly awaiting the launch of the latest iPhone......

3XSQ: Facebook focuses on mobile
Sep 12 - Mark Zuckerberg calms investor fears and outlines a plan to boost its success with mobile devices......

Spain's cork industry pops back
Sept. 12 - After a couple of sober years, Spain's cork industry is enjoying a revival thanks to new production methods that has lessened the chance of cork taint. Hayley Platt reports......

Rescue fund gets green light
Sept. 12 - Germany's Constitutional Court rules Germany can ratify the euro zone's rescue fund and budget pact as long it can guarantee there will be no increase in German financial exposure to the bailout fund without parliament's approval. But how .....

U.S. Morning Call: Apple set to unveil new iPhone
Sep 12 - The wait is over as Apple reveals its new iPhone which is expected to offer 4G technology......

Now not the time to cut rates - Thai central bank governor
Sept. 12 - Domestic economic pressures trump global growth jitters and mean now is not the time to cut rates, says Thai central bank governor Prasarn Trairatvorakul......

Market Pulse: Has the euro Emperor found some clothes?
Sept. 12 - Europe in the green, thanks to the judges in red. Germany's top court approves Berlin's role in the euro zone rescue fund, pushing the euro up to a 4-mth high above $1.29......

Barroso calls for 'federation of nation states'
Sept. 12 - The president of the European Commission Jose Manuel Barroso calls for the European Union to be turned into a 'federation of nation states' in a sweeping demand for countries to surrender more sovereignty and move towards full integration......

Breakingviews: Germany ESM vote
Breakingviews......

German court ruling a victory for the euro - ING
Sept. 12 - Germany's Constitutional Court giving a conditional green light to the rescue fund means governments are able press ahead with action on the debt crisis, says ING's Carsten Brzeski......

Reuters Today: Triple threat to euro zone
Sept. 12 - German judges, Dutch politicians and euro zone banking proposals all pose potential pitfalls for the euro zone today......

Shipping industry mired in China slowdown
heads to Hong Kong's ports for an 'on-the-water' look at the toll China's slowdown is taking on the battered shipping sector......

Zuckerberg: "Killer stuff" in mobile on the way
Sept 11 - Facebook CEO Mark Zuckerberg says his team is working on "killer stuff" in mobile, and a search function on the social network, as he deflects criticism in his first public appearance since a botched IPO and subsequent 50-percent drop in sh.....

Dow jumps to near five-year high
Sept 11 - Summary of business headlines: Stocks rise ahead of Federal Reserve meeting and German court vote; Burberry warning shakes Tiffany, Ralph Lauren and Coach shares; Apple iPhone launch expected Wednesday; Texas Instruments fine-tunes forecast.....

IRS whistleblower gets record cash
Sept. 11 - The U.S. Internal Revenue Service agreed to pay out a record $104 million to a whistleblower who revealed UBS was helping wealthy Americans hide money in Swiss accounts. Sasha Salama reports......

U.S. Day Ahead: Siri what will the new iPhone be a success?
Sep 11 - CEO Tim Cook will have to impress investors and customers when Apple comes out with its latest iPhone. The tech titan gets about half of its revenue from the device......

Shimi the rockin' robot boogies to your beat
Sept. 11 - If you're looking for a musical soul mate who understands your unique taste in tunes and rocks to your rhythms, you might soon be in luck. Scientists at Georgia Tech are about to commercialize Shimi, their dancing robot, an android designe.....

South Africa's mining crisis spreads
Sept. 11 - New strikes are hitting South Africa's mining Industry. Gold Fields - the world's fourth largest gold miner - is the latest victim and there's still no sign of an end to the crisis at Lonmin's Marikana mine. Hayley Platt reports......

Deutsche Bank to cut bonuses
Sept. 11 - In a plan to make 3 billion euros of savings by early next year, Deutsche Bank is reducing bankers' bonuses and cutting jobs. Joanne Nicholson reports.....

Facebook shares enjoy record rise after Mark Zuckerberg interview
Stock jumps 7.7pc following Mark Zuckerberg's first interview since IPO.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235c4808/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

Thorntons fighting back from recession
The chief executive of confectionery retailer Thorntons claims the company is returning to health after being battered by the recession.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235c3d66/mf.gif' border='0'/.....

BAE Systems in merger talks with EADS
Britain's BAE Systems is working on an audacious 38bn (30.4bn) merger with its rival EADS in a move that will create the world's second-biggest aerospace and defence company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Laura Ashley beats the recession with sales rise
The homeware and fashion retailer Laura Ashley has bucked the economic uncertainty with a sharp rise in sales and profits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235c3d67/mf.gif' border='0'/>.....

Wall Street has more to worry about than Elizabeth Warren's fiery rhetoric
Elizabeth Warren provided a recent reminder of why Wall Street chief executives were so glad to see the back of her.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235c3d68/mf.gif' border='0'/>.....

DIY retailer Kingfisher blames profit slump on rain
The owner of Screwfix and B&Q has announced a 20pc slump in profits after a "once in a hundred year weather event" led to falling sales of seasonal products including barbeques and plants.<img width='1' height='1' src='http://telegraph.feedspo.....

German court backs ESM rescue fund in double-edged ruling
Germany's highest court has cleared the way for ratification of the eurozone bail-out fund but capped German contributions and fired a cannon shot across the bows of the European Central Bank.<img width='1' height='1' src='http://telegraph.feedspo.....

Burberry directors snap up shares following drop
Directors in the luxury goods retailer spent more than 1m on shares after the group's profit warning.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235b3c46/mf.gif' border='0'/><br/><br/><a hre.....

The UK's flexible labour market is one of our most underestimated assets
Good news on the jobs front. The winners in our economy, companies that added 236,000 jobs in the three months to July, did so quite ably without the very visible hand of Vince Cable directing affairs.<img width='1' height='1' src='http://telegrap.....

Good News Britain: We are seeing the effects of Government efforts to kickstart UK's housing sector
Day by day, week by week, the shortage of housing in the country is growing. Underlying demand for new homes is around 220,000 per year and as a country we are building about half of that at the moment.<img width='1' height='1' src='http://telegra.....

BT and BSkyB caught in multi-million pound tug of war over rugby rights
BT and BSkyB are caught in a multi-million pound tug of war over TV rugby rights, as the two companies battle for control of coverage of key games in Europe.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235b190.....

Zynga targets 'computer geeks' to secure new users
Games manufacturer has suffered big falls in users and share price.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235b1579/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/144.....

Zynga targets 'computer geeks' to secure new users
Troubled computer games manufacturer Zynga built an empire on addictive Facebook games designed to appeal to women. But now the business is turning to old-fashioned "computer geeks" to help it prop up its user numbers and restore the company to healt.....

Good News Britain: Housebuilder Barratt returns to profit
Barratt Developments, Britain's biggest house builder, flagged its confidence that the housing market will hold steady as it returned to profit and said sales should rise by up to 20pc.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

The fee pool - London's essential export
The City of London has a proud reputation as a bastion of commercial certainty able to attract investment from every corner of the globe.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/235a2a87/mf.gif' border='0'.....

Debt crisis: as it happened - September 12, 2012
The German Constitutional Court has cleared the way for the fiscal pact and the eurozone's permanent rescue fund to be implemented but said the German liability to the ESM must not exceed 190bn without parliament's approval.<img width='1' height='.....

Anglo American shuts mines as protests spread in South Africa
Anglo American, the world's largest platinum firm, has been forced to suspend some operations in South Africa, after more than 1,000 protesters barricaded entrances to its mines and threatened people going to work.<img width='1' height='1' src='ht.....

Government admits FirstGroup bid for West Coast rail franchise 'riskier'
The Government has admitted for the first time that FirstGroup's contentious 13.3bn bid for the West Coast Main Line was riskier than a rival offer by Virgin Rail but insisted it still represented better value for the taxpayer "by a significant margi.....

FirstGroup bid for West Coast rail franchise 'riskier', admits Government
The Government has admitted for the first time that FirstGroup's contentious 13.3bn bid for the West Coast Main Line was riskier than a rival offer by Virgin Rail.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

BT wins rights to broadcast Premiership rugby in 152m deal
BT beats BSkyB to win broadcast rights for Premiership rugby from the 2013-14 season.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2359eddb/mf.gif' border='0'/><br/><br/><a href="http://da.fee.....

Top 10 ways to get the best mortgage
Advice on how to get the best possible mortgage or remortgage.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2359ba47/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/14454283.....

Debt crisis: German court clears eurozone bailout - live
The German Constitutional Court has cleared the way for the fiscal pact and the eurozone's permanent rescue fund to be implemented but said the German liability to the ESM must not exceed 190bn without parliament's approval.<img width='1' height='.....

'Start saving for Christmas or risk getting into debt'
People need to start saving for Christmas now to avoid getting into debt when costs mount up nearer to the festive season, campaigners say.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2359ba49/mf.gif' border='.....

Debt crisis: Greece prepares to lease 40 uninhabited islands to cut debt
Greece has identified 40 uninhabited islands and that could be leased for as long as 50 years to reduce debt as pressure grows on the country to revive an asset-sales plan key to receiving international aid.<img width='1' height='1' src='http://te.....

Debt crisis: Barroso may want political union - but what's in it for the people?
There was a minute this morning when it looked like Jose Manuel Barroso had got it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2358a152/mf.gif' border='0'/><br/><br/><a href="http://da.feeds.....