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Sunday 28 October 2012

UK Financial News on 2012-10-28

Economy 'shows signs of optimism'
There is "reason for some optimism" for the UK economy, says the Bank of England's deputy governor Charlie Bean, but warns against "over-excitement"......

Draghi backs super-commissioner
European Central Bank President Mario Draghi backs calls for a eurozone super-commissioner with the power to veto government budgets......

Childcare 'hits second earners'
A think tank says the cost of childcare is making work "hardly worthwhile" for a growing number of second earners in middle and low income families......

China halts project amid protests
Days of protests against the expansion of a petrochemical plant in eastern China force authorities to shelve the project......

Greece holds 'bank leak' reporter
A Greek journalist is arrested after publishing what he says is a list of Greeks with Swiss bank accounts, with some suspected of tax evasion......

New life for BMI Regional airline
BMI Regional starts operating as an independent airline, after being carved out of carrier BMI in May......

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......

Thousands join new Spain protest
Thousands join fresh protests in the Spanish capital, Madrid, angered by budget cuts and calling on the government to quit......

Berlusconi warns Italy cabinet
Italy's Silvio Berlusconi threatens to bring down Mario Monti's technocratic government, a day after receiving a jail sentence for tax fraud......

UBS 'to announce 10,000 job cuts'
Swiss bank UBS reportedly plans to announce up to 10,000 job cuts worldwide as it slims down its investment banking activities......

Austerity key to Lithuania poll
Lithuanians vote in the second round of national elections, with budget cuts and joining the euro seen as central issues......

VIDEO: Farmers 'close to breaking point'
The Royal Agricultural Benevolent Institution, a charity which assists farmers facing severe economic hardship, has reported a significant rise in the number of calls to its helpline......

VIDEO: CBI: 'Pockets of potential across UK'
The business group, the CBI, has said the government should not rely on London and the south east alone to foster a lasting economic recovery......

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......

AUDIO: Hilary Devey's family secrets
The Dragons' Den star - whose father had a "secret family" - tells Desert Island Discs how history repeated itself when she found out her ex-partner was also already married with children......

Taking rescue robots through the paces
Oct. 28 - When disaster strikes deep underground, mining robots designed by Canada's Penguin Automated Systems Inc can be deployed to sift through rubble and assess damages. Mounted with cameras and laser scanners, the rugged robots can go where peop.....

Scientists see healthy future for dissolvable electronics
Oct. 28 - Scientists in the United States who have developed electronics that dissolve inside the body, say they will one day replace conventional materials for use as medical implants. Encased in silk, the electronics could be adapted to monitor inf.....

Tightening fiscal policy on this scale will send the US into recession
"It's the economy, stupid." With those words uttered in 1992, James Carville, an adviser to Bill Clinton, suggested that American elections turned on the state of the economy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Man with a hammer at 4G auction hails 'end of beginning'
When Britain gets its first 4G mobile service this week, few people will be more pleased than Ed Vaizey.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f984c6/mf.gif' border='0'/><br/><br/><a .....

Private equity guru's mission to show big business can do altruism
Permira founder, Damon Buffini, explains why he wants to tackle social issues.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f984c7/mf.gif' border='0'/><br/><br/><a href="http://da.feedsporta.....

Germany rattled as taxpayer losses loom in Greece
The EU-IMF Troika of inspectors in Greece has called on European bodies and official creditors to write off a chunk of their loans, opening the way for first taxpayer losses since the sovereign debt crisis began.<img width='1' height='1' src='http.....

Murdoch plans 1bn bid to pick up Penguin
Rurpert Murdoch is planning to gatecrash Penguin's proposed merger with Random House by making a 1bn cash offer for the book publisher.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f91755/mf.gif' border='0'/&.....

Europe left behind as shale shock drives America's industrial resurgence
The wonders of US shale gas continue to amaze. We receive fresh evidence by the day that swathes of American industry have acquired a massive and lasting advantage in energy costs over global rivals, demolishing assumptions about US economic decline......

Barclays in court over mis-selling claims
Barclays will on Monday face what is being billed as a 'test case' over claims it sold interest rate swaps to a customer while at the same time knowingly attempting to manipulate borrowing rates.<img width='1' height='1' src='http://telegraph.feed.....

Banks to admit profits have been wiped out by PPI costs
Three of Britain's biggest banks will this week admit that billions of pounds of profits have been wiped out by rising claims for mis-selling payment protection insurance (PPI).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Shell attacks 'ridiculous' effects of European energy policy
Royal Dutch Shell has attacked the "ridiculous" impact of European energy policy, warning that governments are erasing the environmental benefits from expensive renewables by allowing coal use to increase.<img width='1' height='1' src='http://tele.....

John Timpson: When it comes to rule-making, you can compare sport to business
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/24f87d8c/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/14865.....

We must ease the bumps in business rates for a smoother recovery
Business rates are the third biggest outgoing for local firms after rent and staff costs. As a very direct and visible tax demand, unsurprisingly, such bills aren't that popular with business.<img width='1' height='1' src='http://telegraph.feedspo.....

Fears over fiscal cliff escalate as US election draws near
"Quite simply, the US is the closest shark to the boat right now," says Russ Koesterich, the chief investment strategist at iShares.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f87d91/mf.gif' border='0'/>.....

Canada's veto of Petronas deal raises spectre of resource nationalism
Resource nationalism is back in the spotlight after Canada blocked the takeover of one of its natural gas producers by a Malaysian state-owned oil company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f82094/.....

The week ahead: October 29 - November 2
With just one full week of campaigning left in the US elections, attention is likely to shift across the Atlantic this week. The key US economic event will be Friday's employment data, which could prove critical.<img width='1' height='1' src='http.....

Sir Christopher Gent to exit GlaxoSmithKline
Sir Christopher Gent is to step down as chairman of GlaxoSmithKline, Britain's biggest pharmaceutical company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f7ba7e/mf.gif' border='0'/><br/><br/>.....

Economy showing 'signs of progress'
After ''bumping along the bottom'' for two years, the economy is showing signs of progress, says deputy governor of the Bank of England.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f7257e/mf.gif' border='0'/.....

Daily Mail & General Trust in talks to sell regional arm
Daily Mail & General Trust is in talks over a possible sale of its regional newspaper arm, Northcliffe Media, it has confirmed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f719d2/mf.gif' border='0'/>&.....

News Corp 'in 1bn plan to pick up Penguin'
Rupert Murdoch's News Corporation could make a 1bn bid for Penguin, potentially scuppering a planned merger between the publisher and Random House, it has been reported.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Mario Draghi backs Wolfgang Schaeuble's 'super commissioner' plan
European Central Bank chief throws weight behind German scheme to allow the EU to intervene in countries' budgets and propose changes before they are agreed in parliaments.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Williams F1 struggling to find recruits with maths skills
Williams F1 is "frustrated" over the state of education in Britain today after the majority of school leavers applying for its apprenticeship scheme this year failed a basic maths test.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Williams F1 maths test: answers
The Williams F1 maths test is a series of basic sums derived by Birkbeck college in the 1960s. The current failure rate among young people taking the test, hoping to work as apprentices at the company, is two-thirds. Check your answers here to see ho.....

Wall Street wants major deal debt after the election
Wall Street's chief hope for next month's presidential election is that it leads to a long-term agreement to cut the country's mounting debt, according to a leading US bank boss.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

45,000 to invest? Don't expect advice
Investors with less than 50,000 will struggle to get advice when new rules come in.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f541eb/mf.gif' border='0'/><br/><br/><a href="http://da.feeds.....

Sir James Dyson wants to fix the leak
Sir James alleges that a rival firm paid a Dyson employee to leak details of his confidential engine development programme. William Langley reports<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/24f541ed/mf.gif' .....

Questor share tip: Home Retail's valuation is too high to buy
Home Retail Group has unveiled it new strategy to boost profits at Argos. The plan is sound, but the valution is too high to buy the shares right now. Questor says avoid.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....