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Saturday 27 October 2012

UK Financial News on 2012-10-27

Sacked S Africa miners reinstated
The world's biggest platinum producer agrees to reinstate 12,000 South African miners sacked for taking part in an unofficial strike......

Clarke rethinks tax break stance
Cabinet minister Ken Clarke says he accepts his party will honour its pledge to help married couples through the tax system - after suggesting the change might be delayed......

US economic growth up sharply
The US economy grew at a faster-than-expected annualised pace of 2%, official figures show, as the US presidential election approaches......

EDF to raise energy cost by 10.8%
EDF Energy customers will see a 10.8% rise in energy prices from 7 December, the biggest average percentage rise from the major firms so far......

Hacking claims hit Mirror shares
Shares in Trinity Mirror slide 16% amid allegations of phone hacking by the media group's newspapers gather......

Anglo American chief to step down
Cynthia Carroll is to step down as head of mining firm Anglo American after shareholder pressure, leaving two women running FTSE 100 firms......

Facebook claimant in fraud charge
A New York businessman is charged with trying to defraud Facebook by claiming a 50% stake in the multi-billion dollar social media firm......

Galaxy phones lift Samsung profit
Samsung Electronics reports record quarterly profits led by strong sales of its Galaxy range of smartphones, as Apple's profits growth disappoints......

Spain jobless rate hits new high
About a quarter of working-age people in recession-hit Spain - and more than half of young people - are unemployed, new figures show,.....

'Rogue' trader faces new charges
A City trader with Swiss bank UBS accused of a 1.4bn fraud is charged with two further counts as he took the witness stand for the first time......

House prices 'driven by London'
House prices dipped in September in England and Wales compared with the previous month, but rose 1.1% compared with a year earlier, a report has said......

Nintendo Wii U to be sold at loss
Nintendo says its forthcoming Wii U games console will be sold at a loss, reversing its previous strategy......

Union meeting over Ford closure
Union members at Ford's Southampton Transit factory are to stage a mass meeting as they bid to fight its closure......

Gas bill revamp for small firms
More small businesses will receive clearer information that allows them to shop around for energy under plans from the regulator Ofgem......

Pension pots 'could fund housing'
A possible 100,000 to 300,000 homes could be built in the UK every year without using any government money, a study claims......

South Korea economic growth slows
South Korea's economy grows at its slowest pace in nearly three years as global slowdown hurts demand for its exports and firms cut their investment......

HTC sees lower sales at year-end
HTC says its sales will be lower than expected as the Taiwanese smartphone maker has been finding it hard to emulate the success of its rivals......

Leeds takeover deal close - Bates
The proposed takeover of Leeds United is approaching completion, according to current owner and chairman Ken Bates......

Kroenke defends Arsenal ambition
Arsenal majority shareholder Stan Kroenke moves to reassure supporters by stressing that his goal is to win trophies at the club......

VIDEO: What is a Junior Isa?
Parents looking to save for their children's future need more information on their options, according to new research......

VIDEO: A history of energy tariff plans
Mail on Sunday personal finance reporter Richard Dyson looks back at the history of domestic energy tariffs......

VIDEO: UBS 'rogue trader' sheds tears
A trader with Swiss bank UBS accused of a 1.4bn fraud was charged with two further counts as he took the witness stand for the first time......

VIDEO: Animal behaviour in the boardroom
Monkey business might mean mucking around, but some companies are finding inspiration in the chimp world......

VIDEO: Emergency eurozone summit: one year on
Exactly a year ago Europe's leaders came together in Brussels for an emergency summit aimed at solving the Eurozone crisis once and for all......

AUDIO: Viral videos 'are big business'
Millions of people across the globe watch and share funny amateur videos put up on YouTube and now those videos have the potential of generating six figure sums......

VIDEO: Food trucks rev-up fast food
Chefs are taking to the street, using food trucks as way of testing menus and locations before they set up a permanent restaurant......

VIDEO: 'Small businesses struggle with energy'
More small businesses will receive clearer information that allows them to shop around for energy under plans from the regulator......

The cold call victim who fought back
The cold call victim who fought back.....

The US economy debate
The economy debate in the US elections.....

Publishing mergers 'inevitable'
Should Penguin merge with Random House?.....

The frustration of the Junior ISA
Saving up with a Junior ISA.....

Extremadura: Spains worst-hit region?
Does Extremadura have Spain's worst hit economy?.....

VIDEO: First look at Blackberry 10 phone
The latest BlackBerry 10 operating system.....

Stocks mixed; Microsoft lands Surface
Oct. 26 - Summary of business headlines: Wall Street marks time as economy remains lackluster; Consumer sentiment hits 5-year high; Oil fluctuates as Hurricane Sandy roars; Microsoft gets lines for Surface tablet, Windows 8. Conway G. Gittens reports.....

Big week in tech
Oct. 26 - It was a big news week for tech with a beat by Facebook, disappointing iPad sales from Apple and the unveiling of the iPad Mini. Microsoft was also in there with the launch of its Surface tablet and Windows 8. Jill Bennett reports......

U.S. Week Ahead: Jobs, earnings and a hurricane oh my!
Oct 26 - Expect a rocky week for the markets as they face a politically-charged jobs report, the potential for another meltdown in earnings and even a destructive hurricane......

Daily Digit: Defense spending up 13%
Oct. 26 - The U.S. government's 13 percent military shopping spree adds to a spike in quarterly GDP. Conway G. Gittens reports......

Economist: Declining incomes signals Romney presidency
Oct 26 - Economist Douglas Hibbs' "Bread and Peace" economic model, which focuses on Americans' personal incomes, suggests Mitt Romney will win the presidency in a landslide election......

Trading at Noon: Tablet wars begin ahead of the holidays
Oct 26 - Microsoft fights back with Surface release, Apple charging forward with the iPad mini & Samsung sees record smartphone shipments.....

FACTBOX: Ballmer talks, Microsoft's stock balks
Oct 26 - Microsoft CEO Steve Ballmer touted Windows 8 as "the biggest deal for the company in at least 17 years." But Microsoft has had a history of launching less-than-stellar products under Ballmer's tenure......

Breakingviews: Apples mini influence
Oct 26 - Jeffrey Goldfarb and Breakingviews columnists discuss why the new iPad mini might not matter so much for Apple and how the companys value stacks up against Amazons......

Amazon looks to luxury fashion
Amazon, the world's largest internet retailer, has started selling more fashion and clothing, and expressed a desire to attract luxury brands to its site. Analysts say some high-end labels may want to retain control over where their products are sold.....

Europe Week Ahead: Debt, earnings worries pile up
Oct. 26 - Greece is back on centre stage as the troika report on its finances gets nearer, while it may also be another weak of disappointing earnings for Europe......

Spain unemployment hits record high
Spain's jobless rate reached a new record high of 25 percent in the third quarter, with the prospect of further rises as government austerity measures kick in. Ciara Sutton reports......

Reuters Asks CEOs: What's your 10 year tech game changer
asks CEOs what they think the most important technical advance will be over the next ten years......

Wealth Strategies: Emerging market debt & equities shine
Oct. 26 - Elizabeth Corley, CEO of Allianz Global Investors, says she's finding opportunities in emerging market stocks and that the biggest mistake investors are making is keeping too much money in cash......

3XSQ: U.S. GDP expands 2%
Oct 26 - Economic growth picked up in the third quarter as a late burst in consumer spending offset the first cutbacks in investment in more than a year by cautious businesses......

Factbox: Lower growth, wider deficit, no problem?
Oct. 26 - South Africa says growth will be lower and deficits wider than previously thought, but finance minister Pravin Gordhan says spending restraint means there's nothing to worry about......

Market Pulse: After tough week... TGI Friday
Oct. 26 - There's no weekend cheer for investors as soft earnings, growth worries and the looming U.S. fiscal cliff combine to send risk assets lower......

ECONOMY 2012: Ericsson sees more cuts amid global slowdown
Oct. 26 - Ericsson announced more cuts as third-quarter profits fell 42 percent. We speak to the company's chief executive Hans Vestberg to find out how the company is shielding itself from the global slowdown......

Lyon expo shows serious side of video games
Oct. 26 - Exhibitors at the eighth annual Serious Games Expo in France insist that video games don't always involve frittering away hours of your life. They believe their own video game products can be put to serious use by businesses, engineers, and.....

Breakingviews: FTSE100 loses another woman
Oct. 26 - Cynthia Carrolls departure from Anglo American leaves just two female CEOs in the FTSE 100, highlighting the proposition that quotas for female executives are needed say Breakingviews......

Grape picking robot prunes like a pro
Oct. 26 - A French engineer has designed a robot that in the future will be able to prune and pick grapes, saving wine makers time and money. Hayley Platt reports......

Meet Sinopec's M&A man
Oct. 26 - Sinopec chairman Fu Chengyu is one of the higher-profile leaders running China's mammoth state-owned enterprises, and the architect of the Chinese oil giant's overseas acquisition push......

Samsung prints money, but investors skeptical
Oct. 26 - Samsung's record $7.4 billion dollar third-quarter profit failed to impress investors. That's because the firm may have trouble maintaining its stomping pace in the months ahead. Jon Gordon reports......

Reuters Today: Global tech giants add to earnings gloom
Oct. 26 - World stock markets are on the defensive as results from Apple, Samsung and Amazon disappoint investors. Plus, a hedge fund "fight club" and only 2 out of 100 of Britain's top CEOs are now women......

Asia Week Ahead: Run-up to China's leadership transition
Oct. 26 - Political tensions are likely to rise next week with scandals emerging ahead of China's leadership transition. Manufacturing data meanwhile will be watched for further signs of recovery......

Breakingviews: The cost of China's old boys club
Oct. 26 - Amid talk of the substantial wealth connected to the family of Premier Wen Jiabao, Breakingviews' John Foley and Peter Thal Larsen weigh in on China's insider culture......

Cabinet faces split of Lord Heseltine's growth plan
Lord Heseltine, the Tory grandee, will this week unveil radical new policies to boost economic growth in Britain's regions - but is facing a Cabinet split over them which threatens to leave them stillborn.<img width='1' height='1' src='http://tele.....

There is good news on jobs - let's build on it
Beating expectations and achieving 1pc growth may not be enough to rehang the Jubilee bunting, but it is a confidence boost and a sign of better things to come.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f3.....

Investor fury at Asos pay clause
The fashion retailer Asos is facing pressure from angry shareholders over the financial package for its new chairman, Brian McBride.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372ba/mf.gif' border='0'/>.....

Dashwood: Fairfax figures add up to a good deal for Angel
Exodus at the Mayfair investment bank Fairfax I.S., where two teams of six small-cap specialists - and the 25 clients they caretake - will on Monday transfer to SP Angel, also located in Berkeley Square.<img width='1' height='1' src='http://telegr.....

Anglo poised to offload stake in platinum unit as strike deal looms
Anglo American's review of its loss-making platinum unit is close to completion, with the miner considering taking action to sell up to 15pc of the division.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372b.....

Why this sniping must stop for the good of UK plc
It was welcome news last week that the British economy is back in growth with Q3 figures the best for five years and much better than expected.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372be/mf.gif' bord.....

Virgin Trains lining up bid for East Coast rail line
Virgin Trains is planning a bid to run the East Coast main line when the franchise is put up for tender in the new year, Sir Richard Branson has revealed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372bd/m.....

The Sunday Interview: Sir Richard Branson
As the Virgin boss unveils his airline's new India route, he explains why the Coalition is right on austerity but wrong on rail.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372c0/mf.gif' border='0'/><.....

CBI in push for growth
Businesses should be given more say in the running of local authorities and the Government must step up investment in Britain's infrastructure if the country is to build on the economic recovery in the third quarter.<img width='1' height='1' src='.....

Cambridge Satchel Company's search for supply routes to success
Julie Deane explains why her Cambridge Satchel Company is insisting on backing quality British manufacturers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372c1/mf.gif' border='0'/><br/><br/>&.....

Hurricane Sandy delays Google's tablet launch
Google has been forced to cancel an event launching a new technology, as Hurricane Sandy is expected to hit New York City on Sunday evening.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372c2/mf.gif' border=.....

Think Tank: Mobile battle lines have been drawn
Don't call it a comeback, but this week Facebook confounded some of the doubts about its future.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372c3/mf.gif' border='0'/><br/><br/><a href="ht.....

Court could force Barclays to release Libor emails
Barclays could be forced to release hundreds of thousands of emails connected to attempts to rig Libor if the High Court allows a care home operator to pursue its claim against the bank.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

George Osborne and the Governor's big, bold leap
Most analysis of the Autumn Statement in early December will focus on whether the Chancellor is still managing to meet his fiscal targets, and, if so, what by way of further austerity measures will he be forced to enact to keep the public finances on.....

A Romney victory could spook the US markets
With just over a week to go before the US election, it's too close to call. President Barack Obama is rediscovering his touch as a ladies' man, polling well ahead among female voters just as he did when he won the White House in 2008.<img width='1.....

BT in new attack on BSkyB over fight for football sports rights
BT has bolstered its plan to become a heavyweight sports broadcaster with a slew of deals to show live matches from top-tier international football leagues.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372c7.....

Barclays slashes bankers' pay by up to half as profits fall
Barclays to cut salaries of some of its leading investment bankers by as much as half in a bid to reduce costs and show that the bank has fundamentally changed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f3.....

Cynthia Carroll exits as Anglo searches for new focus
Cynthia Carroll has spent the past six years trying to rebuild Anglo American into a global mining behemoth, but her departure could result in the company being broken up.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Barclays boss Antony Jenkins intent on a return to credit
Ahead of Barclays' third-quarter results, The Sunday Telegraph reveals how Antony Jenkins, the new CEO, plans to change the controversial British bank.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f372ca/mf.g.....

Don't be fooled: these new investment rules are important
At the end of this year a small revolution will take place in the investment business - financial advisers will no longer be able to receive commission from fund groups for recommending their products.<img width='1' height='1' src='http://telegrap.....

Barclays knows action must follow warm words
Ahead of any big event in his business life, Antony Jenkins likes to get in the mood by listening to music. Rock, if the new chief executive of Barclays needs to be "pumped up" as he describes it. Jazz or a little light classical if he needs a calmer.....

Archbishop of Canterbury contender criticises banks
The frontrunner to become Archbishop of Canterbury has accused banks of having "no socially useful purpose" and being "exponents of anarchy" in a speech warning that the financial services industry cannot be repaired.<img width='1' height='1' src=.....

Child benefit chaos: are you affected?
People on more than 50,000 can opt out of the benefit or pay tax on it - but either choice can cause problems later on.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24ef726e/mf.gif' border='0'/><br/>&l.....

Will inflation scupper your retirement plans?
We can expect to live to 90, meaning that we will be drawing our pension for 25 years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24ef7270/mf.gif' border='0'/><br/><br/><a href="http://da.fe.....

English students 'can take cheaper courses abroad'
Britain is now one of the most expensive places in the world for English students to take a degree course, according to research published today.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24ef1c53/mf.gif' bo.....