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Sunday 2 December 2012

UK Financial News on 2012-12-02

Starbucks: We must do more on tax
Global coffee chain Starbucks says it is in talks with UK authorities over how much tax it pays......

Deficit cut 'could take longer'
The chancellor says deficit reduction is taking longer than planned ahead of his Autumn Statement on Wednesday, but insists there is no turning back......

US budget talks 'in stalemate'
US Treasury Secretary Tim Geithner rules out a budget deal unless Republicans accept a White House plan dismissed by House Speaker John Boehner......

Millions 'facing money struggle'
Millions of households are struggling to make ends meet, consumer organisation Which? claims......

MoD extends maintenance contracts
Five contracts to maintain naval support ships have been extended by the Ministry of Defence in a move which, it says, will safeguard about 800 jobs......

MPs in minority women job warning
Black and minority ethnic women face "catastrophic" levels of unemployment and are discriminated against at "every stage" of the recruitment process, a group of MPs has warned......

Fracking firm ready to press on
The head of a company involved in fracking says it is ready to press on quickly with shale gas production if a UK ban on the technique is lifted......

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......

March against Maracana sell-off
A protest march is held in Rio against government plans to privatise the city's iconic Maracana stadium ahead of the 2014 World Cup in Brazil......

5 live Investigates: 'legalised ticket touting'
Premier league clubs are being accused of allowing legalised touting over re-selling of tickets, BBC Radio 5 live's Andrew Fletcher investigates.....

VIDEO: Dubai's return to 'mega-projects'
Dubai has announced plans for a number of new large-scale projects, following the country's property crash in 2008......

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: 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......

What should be in the chancellor's Autumn Statement?
What should be in the chancellor's Autumn Statement?.....

Wooden radio broadcasts sustainable message
Dec. 2 - An Indonesian designer and woodcrafter has transformed a grass-roots craft shop into a model of green, sustainable business practice. Singgih Susilo Kartono is the brains behind a company called Magno which produces stylish hand-made wooden .....

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.....

Tax raid will close pension schemes, Osborne told
Companies are warning that they will close final-salary pension schemes if George Osborne mounts another raid on people's retirement savings.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/263102a8/mf.gif' border.....

Tax hitmen to track your spending
Up to two million people are to have their credit files secretly checked under a crackdown on tax evasion to be unveiled by George Osborne to help raise another 10 billion.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Tullet Prebon
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/263102a3/mf.gif' border='0'/>.....

HSBC to start selling 25bn of toxic US debt
HSBC is preparing its first sale of sub-prime loans since the height of the financial crash, as Britain's largest bank begins to off-load more than $40bn (25bn) of toxic US debt it still holds on its books.<img width='1' height='1' src='http://tel.....

HSBC to start selling 25m of toxic US debt
HSBC is preparing its first sale of sub-prime loans since the height of the financial crash, as Britain's largest bank begins to off-load more than $40bn (25bn) of toxic US debt it still holds on its books.<img width='1' height='1' src='http://tel.....

Bang & Olufsen chief pumps up the volume to make another killing for Denmark
Luxury audio specialist Bang & Olufsen aims to reduce its reliance on European sales with a push into China and the US.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2630fb82/mf.gif' border='0'/><br/&g.....

Tchenguiz brothers launch damages case against SFO
Mayfair-based entrepreneurs Vincent and Robert Tchenguiz will launch their multi-million pound damages case against the Serious Fraud Office today.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2630f468/mf.gif' .....

Rupert Murdoch to split News Corp early to limit fallout from hacking scandal
Rupert Murdoch's News Corporation is preparing to split on December 31, as it attempts to limit the damage of the News of the World phone hacking scandal on the rest of the media empire, the Daily Telegraph can reveal.<img width='1' height='1' src.....

The world's commodity supercycle is far from dead
Great resource booms usually end abruptly, catching almost everybody by surprise.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2630f1fe/mf.gif' border='0'/><br/><br/><a href="http://da.feedspo.....

China shakes off hard landing by reverting to bad old ways
China's gauge of manufacturing industry jumped to a seven-month high last month in the latest sign that Asia's powerhouse is springing back to life.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2630f200/mf.gif'.....

Facebook board member untroubled by resignation
Facebook board member Reed Hastings has claimed he had no idea who the company's former European chief was - or that she had resigned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2630536d/mf.gif' border='0'/&g.....

Cyprus bail-out doubts over Russian money laundering
Politicians across Europe are urging their governments to demand a crackdown on alleged Russian money-laundering in Cyprus as a condition of any bail-out for the troubled eurozone member.<img width='1' height='1' src='http://telegraph.feedsportal......

More of bleak winter rather than mellow fruitfulness as pain persists
Pity poor George Osborne having to deliver his Autumn Statement on Wednesday against such a wintry economic backdrop.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26304cb5/mf.gif' border='0'/><br/><.....

Chancellor plans small business tax breaks to drive growth
The Chancellor will unveil a raft of policies to help smaller businesses in Wednesday's Autumn Statement alongside new infrastructure projects in an attempt to revive growth.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Delta plots to take control of Virgin Atlantic
Renewed attempts are being made by Delta Air Lines to forge a deal that could give the major US carrier control of Sir Richard Branson's Virgin Atlantic carrier.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262.....

Britain's bread industry turns stale
Consumers concerned by the struggling economy are buying less bread and making what they have bought go further, even if that means eating stale bread.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262fd676/mf.g.....

Timothy Geithner warns US could fall off 'fiscal cliff'
US Treasury Secretary Timothy Geithner has pressed Republicans to offer specifics on deficit reduction, though he admitted that he "can't promise" that the country won't fall off a looming "fiscal cliff" of sharp tax hikes and spending cuts.<img w.....

Timothy Geithner warns US could go over 'fiscal cliff'
US Treasury Secretary Timothy Geithner has pressed Republicans to offer specifics on deficit reduction, though he admitted that he "can't promise" that the country won't go over a looming "fiscal cliff" of sharp tax hikes and spending cuts.<img wi.....

John Timpson: personal service will always win over a website
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/262fc33e/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/15153.....

Miners jostle over China's coming of age
As the Chinese economy develops into a more consumer-driven beast, the world's mining giants are fighting to look prepared.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262fc06f/mf.gif' border='0'/><br/&g.....

Week ahead in business and economics: December 3 - 7
The last time the stock market heard from Mulberry, the luxury handbag maker delivered a major profits warning and saw almost a quarter of its stock market value wiped out.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

'Garden tax' clampdown facing homeowners with large grounds
Homeowners with large grounds are facing a clampdown by the taxman on profits from the sale of their property in a garden tax raid.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262e8624/mf.gif' border='0'/>&.....

Debt crisis: Angela Merkel does not rule out Greek haircut in the future
German Chancellor Angela Merkel has not ruled out a so-called "haircut", or write-down, of Greek debt in the next few years, marking an apparent softening in position.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

George Osborne: UK clearly taking longer to recover than hoped
Speaking on the Andrew Marr Show, the Chancellor admits it is taking longer than hoped to deal with Britain's debts and for the economy to recover but claims "we've made real progress".<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Autumn statement: George Osborne says Plan B would be a 'complete disaster' for Britain
George Osborne has admitted that tackling Britain's debt mountain will take longer than hoped, but warned that changing course would be a "complete disaster".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/262dec.....