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Saturday 1 December 2012

UK Financial News on 2012-12-01

Obama warns of Scrooge Christmas
President Obama warns of a "Scrooge Christmas" if no deal is struck on the "fiscal cliff", but a senior Republican says talks are going "nowhere"......

Yahoo 'ordered to pay $2.7bn'
Internet group Yahoo says it has been ordered to pay $2.7bn to two plaintiffs in a Mexican court ruling......

Moody's cuts rating of ESM fund
Moody's cuts the triple-A rating of the European Stability Mechanism (ESM) euro rescue fund on Friday by one notch......

Rousseff acts on Brazil oil plan
Part of a law intended to share royalties from Brazil's oil fields across the country's 26 states is vetoed by President Dilma Rousseff......

Investor worries over wine firm
People who invested thousands of pounds in fine wine are facing an anxious wait after the collapse of a major wine investment firm......

Car premiums for young women soar
The youngest female drivers face significant increases in their insurance costs from this month, according to new figures......

Supermarkets pledge prices action
Eight major supermarkets agree to ensure that special offers are fair, following a regulator's investigation into unfair or misleading promotions......

Key world economies slow sharply
Growth in India, Brazil and Canada slows in the third quarter, while economic data for October in the US and eurozone also disappoints......

Eurozone jobless rate at new high
Eurozone joblessness hits a new record high as ECB head Mario Draghi warns the region will only emerge from crisis late next year......

Over 50s 'not planning pensions'
Many over 50s are "sleepwalking into their old age", a pensions group says, as research suggests people are over-optimistic about retirement income......

Squeeze hits Sportingbet takings
Online gambling site Sportingbet announces a fall in first quarter revenues, citing "challenging trading conditions", as poker revenues drop 50%......

Japan in second stimulus package
Japanese lawmakers approve another stimulus package to revive growth, as the flagging economy becomes a key issue in the upcoming general election......

India economic growth rate slows
India's growth rate slowed in the July to September quarter, putting further pressure on the government to implement reforms and ease monetary policy......

Brazil economy slows unexpectedly
Economic growth in Brazil slowed unexpectedly in the three months to September, to just 0.6% versus a year earlier, new data suggests......

Sixty-day bread could cut waste
An American company has developed a technique that it says can make bread stay mould-free for 60 days......

MPs want end to flight duty in NI
A committee of MPs is calling for a 13 tax on all flights to and from Northern Ireland to be scrapped......

Japanese giants in merger boost
Shares in Japanese infrastructure giants Hitachi and Mitsubishi Heavy soar after a decision to merge their thermal power businesses......

Doncaster defends health of SPL
Scottish Premier League chief executive Neil Doncaster defends the financial health of the 12 member clubs......

VIDEO: Can Wii U revive Nintendo profits?
Nintendo has launched its new console Wii U in the UK. Industry experts see the release as a last chance for Nintendo to stay at the forefront of gaming.....

VIDEO: Will 8K be the ultimate TV screen?
Dan Simmons reports from Tokyo where several of Japan's leading tech brands are working together on an 8,000 pixel wide display which is being called Super Hi-vision......

VIDEO: How to spot unsafe electrical goods
More than four million counterfeit goods have been seized in the UK this year, many of them electrical items......

VIDEO: Car premiums for young women soar
The youngest female drivers face significant increases in their insurance costs from this month, according to new figures......

VIDEO: Why public sector pay bill increased
George Osborne has frozen public sector pay and cut public sector jobs but in the last two years the public sector pay bill has gone up, despite pay freezes......

VIDEO: Over 50s need 'pension healthcheck'
Many over 50s are "sleepwalking into their old age", a pensions group says, as research suggests people are over-optimistic about retirement income......

VIDEO: What can Syria do to rebuild?
With the ongoing crisis in Syria leaving tens do thousands of people dead and causing extensive damage to infrastructure, the head of the country's largest opposition group discusses his plans to rebuild......

VIDEO: Are supermarket offers the real deal?
The Office of Fair Trading has warned leading supermarkets to observe rules on the special offers they make to customers in the run-up to Christmas......

Technology dominates the Los Angeles motor show
Try concept cars that respond to your movements.....

UK sport governance to up its game
How UK sports leaders can up their game.....

Bendy phones 'to appear in 2013'
The first wave of handsets with flexible screens.....

VIDEO: Top tips for landing dream jobs
Young workers from around the world give their tips for jobhunting.....

Viewpoint: The robots are coming
Robotics are now a big part of our lives.....

Singapore rap aims to boost birth rate
Singapore struggles to boost its birth rate.....

Australia stubs out tobacco branding
Dec 01 - The world's toughest anti-tobacco laws come into force in Australia. Paul Chapman reports......

Special dividends: naughty or nice?
Nov. 30 - Hundreds of companies are planning to distribute special dividends this year in order to avoid possible tax rate hikes next year, but are these payouts in the best interest of shareholders? Conway G. Gittens reports......

Flat close on 'fiscal cliff' tiff
Nov. 30 - Summary of business headlines: Wall Street preoccupied with fiscal cliff talks; Sandy nicks consumer spending; regional manufacturing improves; Whole Foods announces special dividend; Yum Brands, Zynga and Groupon have tough day. Jeanne Yur.....

Power Player: MO couple hits jackpot
Nov. 30 - Missouri couple wins half the record $587.5 million Powerball jackpot in a drawing on Wednesday. Jeanne Yurman reports......

Daily Digit: $138 mln Mets contract
Nov. 30 - Mets woo David Wright with $138 million deal. Jeanne Yurman reports......

Trading at Noon: Retailers eye holidays; YUM's China woes
Nov 30 - Retailers benefitting from holiday shopping, with Five Below and Christopher & Banks leading the charge......

Nintendo launches Wii U in Europe
Nintendo, which has gradually ceded ground to Microsoft's industry-leading Xbox 360, introduced the Wii U with a touchscreen controller at a time when the video game industry is under threat from a growing smartphone and tablet gaming market......

Breakingviews: Dual-class duel
Nov 30 - Jeffrey Goldfarb talks to Breakingviews columnists about the dysfunctional relationship between Groupon's co-founders, whose super-voting stock leaves minority shareholders with few options......

Europe Week Ahead: Central Banks & Autumn Statements
Nov. 30 - A look ahead to next weeks key events including central bank meetings, Osbornes Autumn statement, nonfarm payrolls and results from Prada......

Banking union top priority for euro zone: Lagarde
Nov. 30 - Implementing a banking union with powers to supervise all banks in the euro zone should be the currency bloc's top priority followed by closer budgetary coordination, International Monetary Fund head Christine Lagarde said on Friday. Hayley.....

Germany approves Greek bailout
Nov. 30 - German lawmakers vote through Greece's bailout agreed to earlier this week by EU and IMF officials, as people on the streets of Athens throw eggs and tomatoes at government buildings in protest. Joel Flynn reports......

Graphics firm has a ball with New York pollution
Nov. 30 - Animators have created a video showing the physical scale of the 54 million tonnes of carbon dioxide pumped into New York City's atmosphere in 2010. Using a technique they call 'concrete visualisation', the team hopes to spark delegates at .....

3XSQ: Apple gets a boost from China
Nov 30 - Apple's iPhone 5, iPad Mini, and fourth-generation iPad will start selling in China after the company received regulatory approval to start selling the products there......

Nintendos Wii U a Super Mario Successor Game Over?
Nov. 30 - The loss-making Japanese game console maker needs a hit to lift its fortunes. Could the Wii U be it?.....

German retail sales slide
Nov. 30 - German retail sales dropped 2.8% ahead of the key Christmas season. The latest figures follow a raft of weak economic data suggesting Germany is no longer immune to the European debt crisis. Hayley Platt reports......

Breakingviews: Osborne to be Robin Hood?
Nov. 30 - UK Chancellor George Osborne has his hands tied as he wants to boost a flat economy but needs to tighten policy to hit his targets and meet his own fiscal rules, says Breakingviews.....

Reuters Today: Imagine the euro at $1.70
Nov. 30 - Without the crisis the euro could be as high as $1.70 says Adam Cole of RBC Capital Markets. This reminder comes on the day Germany is likely to approve the latest Greek bailout......

BlackRock sees a charge back to China equities in 2013
Nov. 30 - As the Shanghai Composite languishes near four-year lows, BlackRock's head of Asian equities explains why he's overweight on China......

Daily Digit: Banking on better times ahead for India
Nov. 30 - India's GDP growth for the September quarter missed expectations, but with reforms in the pipeline, investors and analysts are betting on it picking up in the medium term......

Asia Week Ahead: Australia's growth set to sputter
Nov. 30 - Australias Q3 GDP growth is likely to have slowed on weaker commodity prices, while Japan's economic gloom plays into upcoming elections......

U.S. Morning Call: Comments on "fiscal cliff" swing markets
Nov. 30 - U.S. stock futures are pointing to a slightly higher open as the President and Congressional Republicans tackle the "fiscal cliff.".....

Daily Digit: 2.7% GDP growth
Nov. 29 - GDP grew an impressive 2.7% in third quarter thanks to holidays, but next reading may not be as cheerful. Bobbi Rebell reports......

Market Pulse: Europes 6-month stock run to end
Nov. 30 - An autumnal glow will give way to a winter chill for European markets, says CMC Markets Michael Hewson. So stay warm, stay defensive. Plus, a look at Bankia, LVMH and happy 13th birthday Exxon-Mobil......

Bank of Japan at a turning point?
Nov. 30 - Big changes are expected at Japan's central bank next year--which given its questionable track record isn't a bad thing, says Bank of Singapore chief economist Richard Jerram. Tara Joseph reports......

Amazon to fight high-end Asos
Amazon is to launch an online premium fashion store in an attempt to challenge Net-A-Porter and Asos.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b3797/mf.gif' border='0'/><br/><br/><a hre.....

Internet giants Google and Amazon face tax attack
The Government is to explore an internationally co-ordinated new tax designed specifically to capture the earnings of internet giants including Amazon and Google.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26.....

Lord Myners defends MegaFon
Lord Myners has hit back at criticisms over corporate governance concerns surrounding MegaFon, saying the London market should be careful not to develop an "arrogant stance" towards overseas listings.<img width='1' height='1' src='http://telegraph.....

ICAP's ray of sunshine raises 90m
Michael Spencer tells Kamal Ahmed why his firm's Charity Day is vital and that Vince Cable depresses him.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b4798/mf.gif' border='0'/><br/><br/><a.....

Centrica considering 500m share buyback
Centrica is weighing a return of up to 500m cash to its shareholders early next year, The Sunday Telegraph has learnt.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b4799/mf.gif' border='0'/><br/><.....

Royal Navy engineering gets jobs boost
Britain's maritime industry received a boost this weekend after the Ministry of Defence handed 349m of contracts to companies to maintain the Royal Navy's support ships.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Michael Spencer: dangerous anti-City rhetoric is damaging Britain
One of the Prime Minister's closest business allies has demanded an end to the "dangerous" anti-City rhetoric rife in the country and said that the Business Secretary, Vince Cable, is not respected by the financial sector and "clambered on bandwagons.....

On fracking, 'no' is not a strategy for UK growth
It is a name so ugly and with more than a nodding relationship with swearing that you could be forgiven for thinking that the green lobby had invented it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b479c/m.....

How one family were brought to their knees by the taxman
One businessman tells how his life was destroyed after being wrongly accused of fraud by the HMRC.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b479d/mf.gif' border='0'/><br/><br/><a href=".....

Cuadrilla's Francis Egan on why fracking is the future
Depending on who you believe, Francis Egan, the private equity-backed chief executive of energy firm Cuadrilla, is either an energy maven shaping the future of Europe's embryonic fracking industry, or an environmental criminal who won't stop drilling.....

The case for fracking
Francis Egan, Chief Executive, Cuadrilla, says Blackpool would not blow up, and pink-footed geese would be safe if they were allowed to drill for shale gas in Lancashire.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Starbucks opens negotiations with HMRC to start paying more UK tax
Starbucks has opened negotiations with Her Majesty's Revenues and Customs to change its financial structures so that it starts paying tax in Britain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b47a0/mf.gif.....

Netflix plans TV programme push
Netflix, the online film rental service, says it is to step up its battle with BSkyB by commissioning original scripts and book adaptations as well as buying off-the-shelf programmes.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

Cuadrilla set to resume fracking as George Osborne backs UK shale gas
Cuadrilla is poised to spearhead the creation of a new UK industry in shale gas extraction, its chief executive has said, as the company prepares to resume "fracking" in Lancashire.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

WPP set to return to British shores
WPP, the world's largest advertising agency, looks set to return to British shores in January after four years domiciled in Ireland.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b316f/mf.gif' border='0'/>.....

David Cameron warned over 'nightmare' of doing business in India
David Cameron has been warned over the "nightmare" of doing business in India after the former British head of an Indian cricket business revealed that he is still owed 10m by the company following his dismissal and a four-year legal battle.<img w.....

Mark Carney attacked bankers' windfall pay agreements
The new Governor of the Bank of England criticised the remuneration "windfall" enjoyed by bankers and supported plans to pay them in bonds, suggesting tougher regulations could be financed by cutting "personnel" costs.<img width='1' height='1' src.....

New housing taxes will deter key investments
Boris Johnson's trip to India this week clearly went down a storm. Somehow he managed to charm the lot, from cricket-lovers to movie-makers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b2f50/mf.gif' border=.....

Autumn Statement: mansion tax will 'stifle investment'
Plans to increase taxes on purchases of 2m homes is stifling 250m of investment from one the UK's leading housebuilders, according to the managing director of Berkeley Group.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Think Tank: Workers need an emotional salary, not just a pay packet
The way to get people to turn up to work is to pay them a salary, says Octavius Black. But if you want them to commit, you need to give them purpose and the freedom to get on with the job in hand.<img width='1' height='1' src='http://telegraph.fee.....

Can Mark Carney save Britain's economy?
The Chancellor shocked the City when he revealed the next Governor of the Bank of England. The Sunday Telegraph reveals what drives Mark Carney.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262b2873/mf.gif' bor.....

La Tasca has broken down its problems into bite-sized pieces
Things are never as bad as you think they are. Unfortunately, when it comes to taking over at a struggling business, they are frequently much worse. Ask Simon Wilkinson.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Prosperity across the South is hiding a recession in much of Britain
If you're one of those people who still doubts that there ever was a double-dip recession, there's a good chance you're right.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262a9905/mf.gif' border='0'/><br.....

Banks must be honest about their toxic losses
This weekend, I'm feeling somewhat vindicated. More significantly, perhaps, for the first time in quite a while, I'm also rather hopeful.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262aa4dc/mf.gif' border='0'.....

Diversification is key to tackling this tricky bond bubble
Many of my recent conversations with investors have quickly turned to today's hottest market topic - the price of bonds and whether or not a bubble in fixed-income investments is inflating.<img width='1' height='1' src='http://telegraph.feedsporta.....