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Sunday, 4 November 2012

UK Financial News on 2012-11-04

Apple paid only 2% tax outside US
Apple is the latest multinational to come under scrutiny for the amount of corporation tax it pays, following Starbucks, Facebook and Google......

Comet gift vouchers are suspended
The administrators of the electrical retailer Comet have temporarily suspended the use of gift vouchers at the stores, which have been open as usual......

UK teachers paid by offshore firm
A company employing thousands of public sector workers has avoided paying millions of pounds in employer National Insurance contributions......

VIDEO: Comet closure draws bargain hunters
Comet stores across the UK have been trading as normal today, despite the financial crisis at the electrical chain......

VIDEO: Your Money: When things go wrong
In this week's Your Money, Declan Curry looks at what rights you have if a company folds or your holiday is cancelled......

VIDEO: 'Healthy profits' for Dubai hotels
Hotels in Dubai reported 100% occupancy rates last weekend as tourists from across the Gulf descended on the emirate to celebrate Eid al-Adha......

VIDEO: UK firm spurs 'organic growth' in Dubai
The desert of the UAE may not be a place you would expect to find much organic farming. Simon Atkinson meets Becky Balderstone, Founder of Ripe, who launched a small farmers' market at a Dubai garden centre......

VIDEO: Solving Egypt's energy crisis
The IMF arrives in Cairo this week to negotiate a $4.8bn (3bn) loan. Katy Watson reports on Egypt plans to cut its energy subsidies while also helping those most vulnerable......

Electric Zoe steals the show
Efficient cars slug it out between Brighton and London.....

The sweet spot
Why nostalgia drives our love of confectionery.....

Car insurance auto renewal, friend or foe?
Is car insurance auto renewal friend or foe?.....

Sewage-tracker gets to the bottom of waste disposal
Nov. 4 - A Polish water company wants local residents to become more environmentally aware by learning about the local sewage network, so it has developed a smart-phone application that shows them the route, time and speed their 'delivery' takes from.....

Investors behind Comet sitting on 50m cash pile
The investors behind Comet are sitting on a 50m cash pile after keeping control of the failed electrical retailer's warranties business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2538f85c/mf.gif' border='0'/.....

'Mafiosi' stand to gain most from EU bail-out of Cyprus
Russian oligarchs and "mafiosi" who have parked their illegal earnings inside the country stand to benefit most from an EU bail-out of Cyprus, according to a report by Germany's intelligence agency.<img width='1' height='1' src='http://telegraph.f.....

Robert Tchenguiz to sue SFO for damages after Kaupthing probe arrest
Entrepreneur Robert Tchenguiz is to take legal action against the Serious Fraud Office for damages after his arrest as part of an investigation into the collapse of Icelandic bank Kaupthing.<img width='1' height='1' src='http://telegraph.feedsport.....

Lenders in the dock: past bank scandals
HSBC faces a final bill of $1.5bn (937m) for the "shameful and embarrassing" US money-laundering scandal that has engulfed the lender. Here are a few other banks that have been fined because they violated US sanctions.<img width='1' height='1' src.....

HSBC to face 1bn fines over money-laundering
HSBC is set to face a final bill for fines as high as $1.5bn (937m) for the "shameful and embarrassing" US money-laundering scandal that has engulfed Britain's biggest bank.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Young jobless 'scar' starts to heal as more begin work
"Not only is youth unemployment costing us billions now, but the damage done to the future employment and earnings prospects of those affected will cost us billions for years to come, every year, long after the economy as a whole has recovered."<i.....

Marc Bolland to defend Marks & Spencer strategy despite profits fall
Marc Bolland is to defend his record as Marks & Spencer chief executive and justify his plans for the future of the retailer on Tuesday, despite revealing a fall in profits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Nicholas 'Beano' Levene faces prison for conning Britain's savviest investors
People liked Nicholas "Beano" Levene. He was every bit the larger-than-life stockbroker.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2538d81d/mf.gif' border='0'/>.....

Nicholas 'Beano' Levene faces prison for conning world's savviest investors
People liked Nicholas "Beano" Levene. He was every bit the larger-than-life stockbroker.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/25385e0c/mf.gif' border='0'/><br/><br/><a href="http://da......

Crucial to the US election? It's the Chinese economy, stupid
As an economic forecaster, I am frequently asked what I am assuming about Tuesday's US Presidential election.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/25385247/mf.gif' border='0'/><br/><br/>&.....

Treasury committee could grill US companies over 'tax evasion'
American companies at the centre of a UK tax avoidance controversy could face a root and branch investigation by the Treasury Select Committee.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2538524b/mf.gif' bord.....

HSBC to see profits fall to 3.3bn
HSBC is expected to announce a fall in year-on-year pre-tax profits to $5.3bn (3.3bn) as Britain's largest bank continues the turnaround of its business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/25382464/mf.....

ECB investigating if loans made to Spanish banks contravened rules
European Central Bank (ECB) officials are investigating claims that they have blundered and advanced money to Spanish banks on generous rather than penal terms.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2536.....

China's economic destiny in doubt after leadership shock
The forces of reaction and economic folly threaten to prevail in China. The long political arm of Jiang Zemin has reached out from the shadows to thwart reform, with huge implications for Asia and the world.<img width='1' height='1' src='http://te.....

Margins for oil majors continue to ebb
Both BP and Royal Dutch Shell posted better than expected results last week, boosted by their refining operations. However, this positive trading backdrop is unlikely to last.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

John Timpson: there are green shoots and more to come
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/2537a7ab/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/148659.....

Prudential boss: Personal attacks over failed AIA takeover were 'complete shock'
Tidjane Thiam, chief executive of Prudential, has claimed he was shocked by the vitriol and personal attacks aimed at him following the insurance giant's notorious botched takeover bid for Asia's AIA in 2010.<img width='1' height='1' src='http://t.....

The three questions bond investors are asking about the US election
"The polling is very close," says Michael Pond, a bond strategist in New York at Barclays. "We're all hoping we come in on Wednesday and have a definitive answer on who the president is."<img width='1' height='1' src='http://telegraph.feedsportal......

Cost of Christmas up more than 10pc this year
Christmas costs set to rise by more than 10pc above rate of inflation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/253730b2/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Apple pays less than 2pc tax on overseas profits
Apple is paying less than 2pc tax on its overseas profits, as it moves money through offshoots in low-tax countries and secretive tax havens, such as the British Virgin Islands.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

The week ahead: November 5 - November 9
The race for the White House reaches its climax this week and it is poised to be one of the closest contests ever seen in the US.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/25361831/mf.gif' border='0'/><.....

UK will have say on EU, says Duncan Smith
The UK could face a referendum on the EU, as the Prime Minister is not against it, "it's just a case of when and on what", according to the Work and Pensions Secretary Iain Duncan Smith.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

UK to face EU referendum, says Duncan Smith
The UK could face a referendum on the EU, "it's just a case of when and on what", according to the Work and Pensions Secretary Iain Duncan Smith.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/25361832/mf.gif' bo.....

A street fight Marks & Spencer has to win
In danger of being left behind, the British retailer is spending big.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2534dd29/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1.....

Dashwood: is George Osborne papering over financial cracks?
Fun and games in the latest updates of the Register of Members' Financial Interests, the public record of MPs' extra-curricular money-making interests.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2534dd2b/mf.g.....