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Sunday 7 October 2012

UK Financial News on 2012-10-07

Hammond warns on BAE-EADS merger
France and Germany must reduce their stakes in EADS if the UK is to allow a proposed merger with BAE Systems, the defence secretary says......

Cameron 'would veto' EU budget
Prime Minister David Cameron says he would use Britain's veto to block a new European Union budget "if necessary"......

Drivers face surprise motorway fees
Some drivers are receiving mysterious motorway bills after being involved in an accident on the motorway......

PM signals further welfare cuts
David Cameron warns further benefit cuts may be needed but promises the rich will also pay more, at the start of the Tory conference......

NatWest suspends Get Cash app
NatWest has temporarily suspended a mobile phone application which allows customers to withdraw cash from cash machines without their cards......

Tories voice defence merger fears
Dozens of Conservative MPs have written to the PM with concerns about a planned merger between defence firm BAE Systems and EADS......

Civil servant defends rail role
One of the civil servants suspended over flaws in the competition for the West Coast Main Line franchise criticises the Department for Transport......

The Beatles: All you need is luck
The Beatles were in the right place at the right time.....

Bangalore's goal as aerospace hub
Can Bangalore become the home of India's aerospace industry?.....

Is Britain experiencing a golden age of engineering?
Is Britain experiencing a golden age of engineering?.....

12,000 fired following strike
Oct. 6 - Anglo American Platinum in South Africa fired 12,000 workers for taking part in an unauthorized strike. Julie Noce reports......

United chief attacks high aviation taxes levied in Britain
Jeff Smisek, the head of the world's largest airline has launched a scathing attack on Air Passenger Duty.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2437fc98/mf.gif' border='0'/><br/><br/><.....

Merger of United and Continental airlines calls for much horse-trading
Marrying America's United and Continental airlines was never going to be easy, says the new chief executive, Jeff Smisek.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2437fe93/mf.gif' border='0'/>.....

Merger of United and Continental calls for much horse-trading
Marrying America's United and Continental airlines was never going to be easy, says the new chief executive, Jeff Smisek.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2437fc99/mf.gif' border='0'/><br/>.....

Barclays move could mark the end for the 'golden goose' of banking
There were few things more sacrosanct to Bob Diamond than Barclays' return on equity<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/243791be/mf.gif' border='0'/><br/><br/><a href="http://da.feed.....

Businessman Chad Elie jailed over illegal bets
A Las Vegas businessman who married a former Playboy playmate the day after being arrested in a $3bn (1.85bn) US online gambling bust, has been jailed for five months.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Etsy hires UK chief to lead expansion
Etsy, the online marketplace for arts and crafts, has hired its first UK chief ahead of major expansion in Britain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/243791c0/mf.gif' border='0'/><br/><br.....

David Cameron on standby to save 28bn BAE-EADS merger
David Cameron is on standby to try to prevent the collapse of the 28bn merger between BAE Systems and EADS following surprise German demands for the headquarters of the military and aerospace giant to be based in Munich.<img width='1' height='1' s.....

West Coast rail franchise options pose threat to Virgin
Department for Transport lawyers have told Virgin Rail they are examining three options for the West Coast train franchise - two of which could see Sir Richard Branson's exit from the railways.<img width='1' height='1' src='http://telegraph.feedsp.....

Bombed-out Bumi meets for update on financial scandal
Directors of Bumi, the bombed-out coal miner created by Nat Rothschild, will this week receive their first update on a scandal that is expected to lead to a radical overhaul of the company.<img width='1' height='1' src='http://telegraph.feedsporta.....

Gulf Keystone court battle set to start this week
The Aim-listed group has been embroiled in a dispute over assets in Iraq.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2437618c/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com.....

If Germany were to leave the euro, it would be better off
Another week, another conference about the euro. This time it was in Singapore. Nevertheless, it was Germany that was uppermost in my mind, not least because several Singaporeans asked me why Germany doesn't leave the euro.<img width='1' height='1.....

Vince Cable begins Africa visit amid mining tensions
The Business Secretary will visit South Africa later in the week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2437802a/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/14454.....

Eurozone governments can do little harm by cutting back on deficits
Across the eurozone, governments are cutting their deficits. In 2009 the average government deficit throughout the eurozone was 6.4pc of GDP (a bit over half the deficit in Britain that year).<img width='1' height='1' src='http://telegraph.feedspo.....

John Timpson: official statistics will only tell you part of the story
Straight-talking, common sense from the front line of management.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2436da62/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/14454.....

Who wins keys to White House could decide future of global oil prices
What American consumers pay for their gas - that's petrol to us - is one of the many topics over which Barack Obama and Mitt Romney are "duking it out" as they battle for the White House.<img width='1' height='1' src='http://telegraph.feedsportal......

Week ahead in business and economics: October 8 - 12
Newsagent WH Smith is expected to bring some much needed cheer to the high street when it reports full-year results this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2436a821/mf.gif' border='0'/><br.....

Hat Trick boss hits out at BBC 'dinosaurs' as profits surge
The boss of Hat Trick Productions, the television production company behind Have I Got News For You, has labelled the BBC and ITV "dinosaurs" after lacklustre competition from their in-house production units led to a surge in his own business's profi.....

Debt crisis: ECB board member shuts door on Greek pleas for leniency
Greece cannot have more time to repay its debt to the European Central Bank because it would be illegal and "illogical", board member Joerg Asmussen has said, as he shut the door on pleas for leniency from the bank.<img width='1' height='1' src='h.....

Debt crisis: Spain's jobless flee to Argentina
Desperate Spaniards are fleeing in their thousands to set up new lives in Argentina, preferring rampant inflation to the prospect of searching for a job in a country with the highest unemployment rate in the industrialised world.<img width='1' hei.....

George Osborne: keeping 50p tax rate will hit the poor, not the rich
Reinstating the 50p tax rate will hit the poorest in society, not the richest, George Osborne has claimed, as he admitted that Britain faced a "long and hard" road ahead, with more cuts to come.<img width='1' height='1' src='http://telegraph.feeds.....

Deepening pensions deficit leaves UK companies staring into an abyss
JK Rowling's parents thought her overactive imagination was an "amusing quirk" that would never secure their daughter a pension.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2434391c/mf.gif' border='0'/><.....

Festival of Business: catching the web's new wave
What's the next stage of the internet for the entertainment and music industries? Troy Carter is in a good place to make at least an informed guess.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2433bb60/mf.gif'.....

ENRC shakes up top team
The chairman of troubled ENRC is to bolster the mining giant's senior management with a raft of new appointments aimed at appeasing investors and bringing a halt to the company's share price collapse.<img width='1' height='1' src='http://telegraph.....

Dashwood: psst, fancy a job in Whitehall, 120k?
You really couldn't make it up. After this week's West Coast rail fiasco, the Department for Transport has brought in headhunters Odgers Berndtson to find a "credible" communications chief to get the department's reputation back on track.<img widt.....

Conservative Party conference: 'pro-business set' pushing for power
As the party faithful gather for the annual Conservative Party conference in Birmingham this week, a group of pro-business MPs are starting to flex their muscles.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24.....