Search This Blog

Saturday 15 December 2012

UK Financial News on 2012-12-15

Deeper eurozone union 'agreed'
EU leaders have agreed on a roadmap for eurozone integration beyond the deal on centralised banking supervision, Germany's Chancellor Merkel says......

Construction output decline slows
Output in the UK construction industry fell 5.1% in October, which was the smallest decline since February, official figures show......

Man City losses halve in 2011-12
Premier League champions Manchester City reveal that their financial losses for 2011-12 have halved from a year earlier......

Rent 'to rise faster than prices'
Surveyors predict that UK house prices will rise by 2% in 2013, but that the cost of renting will increase twice as fast......

Warning given to late tax filers
About 300,000 people who have failed to send in their tax returns for 2010-11 may have their goods seized, HM Revenue & Customs says......

Euro factory output pain eases
The decline in the eurozone's manufacturing sector has eased, a survey indicates, a rare spot of good news for the recession-racked region......

US prices fall on cheaper petrol
US consumer prices declined in November due to a sharp drop in petrol costs, according to official figures, the first fall for six months......

Fitch keeps France's AAA rating
Fitch maintains the French government's top AAA credit rating, the only major ratings agency left to say the country deserves to be among the world's most creditworthy borrowers......

Who and what bust Halifax Bank of Scotland?
Peter Cummings breaks his silence on his role in the Halifax Bank of Scotland catastrophe, with a transcript released of answers he gave to the Parliamentary Commission on Banking Standards......

Online users 'need 22 passwords'
Internet users have an average of 22 password-protected accounts, a survey by the Payments Council finds, but many put them at risk by using the same log-in details......

LSE gets nod to buy LCH Clearnet
The UK's competition regulator gives the London Stock Exchange Group the go-ahead for its planned takeover of clearing house LCH Clearnet......

Rail staff to hold 24-hour strike
Workers at CrossCountry Trains will stage a 24-hour strike over a "comprehensive breakdown" in industrial relations......

Japan business sentiment worsens
Sentiment among Japan's big manufacturers worsens in the three months to December, underlining the weakness in its economy......

Scotland 'could lead' on fracking
The head of Weir Group says Scotland is well placed to be at the forefront of a new European shale oil and gas industry......

PetroChina agrees Canada gas deal
PetroChina agrees to buy a 49.9% stake in Canadian firm Encana's gas project in Alberta, as it looks to meet growing domestic energy demand......

Indian inflation declines further
India's inflation declines further in November, helped by an easing of fuel and manufacturing prices......

VIDEO: Does festive music make you spend more?
A new study by Royal Holloway University suggests that playing Christmas songs could make shoppers spend more money......

VIDEO: Cocaine 'perfect drug for city boys'
Geraint Anderson, author of 'Cityboy: Beer and loathing of the Square Mile' said city workers are attracted to the drug because it is glamorous and expensive......

VIDEO: Seasonal peak for shopping trolleys
As supermarkets entice shoppers with festive offers and the aisles get busier, one company is doing its bit to ease peak demand for shopping trolleys......

AUDIO: British firm decorates Bethlehem tree
BBC Radio 5 live Breakfast spoke to the Liverpool-based company chosen to decorate Bethlehem's 55-ft Christmas tree......

VIDEO: Novelty knitwear Christmas boom
The traditional Christmas jumper was once a dreaded gift but now festive knitwear has turned trendy......

VIDEO: How fuel protests hit Jordan's economy
The BBC's Jonathan Frewin examines how Jordan's economy has been affected the government's recent decision to cut fuel subsidies......

VIDEO: Baggage handlers protest at market plans
The single market aimed to open up services across Europe to competition 20 years ago, but there are still areas of the economy where it has not been brought in......

Liberia's development frustrations
Evan Davis on Liberia's development frustrations.....

How to cut your energy use and save money
Keep your home warm and save money.....

Has Europe rediscovered its mojo?
Has Europe rediscovered its mojo?.....

Much more than a fancy calculator
How cash registers became more than just fancy calculators.....

More fiscal cliff-bitting
Dec. 14 - Summary of business headlines: Stock market quiet with eyes on fiscal cliff and school massacre, Apple shares slide as Chinese shun iPhone 5, Best Buy tumbles as founder gets more time. Conway G. Gittens reports......

Troubled in 2012, Promising for 2013
Dec. 14 - Three potential company comebacks for 2013 are Hewlett-Packard, Facebook and Weight Watchers. Carmen Roberts reports......

U.S. Week Ahead: RIM, it's time to impress!
Dec 14 - Curious about RIM's meteoric share rise? Well tune into their results on Thursday to find out if there is substance behind its sudden success......

Power Player: Lockheed's Robert Stevens
Dec. 14 - Job cuts could start as early as April, warns outgoing Lockheed Martin CEO Robert Stevens, as the Pentagons biggest defense contractor could see funding dry up due to the fiscal cliff. Conway G. Gittens reports......

Daily Digit: Prices drop 0.3%
Dec. 14 - U.S. consumer prices fall 0.3 percent, the first drop in the key inflation gauge in six months. Conway G. Gittens reports......

Trading at Noon: Apple hurtles closer to $500!
Dec 14 - Apple tumbles again as the iPhone 5 sees a cool reception in China and two analysts cut shipment forecasts......

Breakingviews: Brazil's missed opportunity
Dec 14 - Breakingviews columnists discuss why the promise of Brazil's oil industry hasn't materialized and what President Dilma Rousseff could do to change that and boost economic growth......

New Yorker marches to beat of artificial heart
Dec. 14 - With the number of donor hearts too low to meet the demand from cardiac patients, the use of temporary total artificial hearts is becoming more commonplace. And the technology is advancing to the point where some heart surgeons believe a pe.....

Europe hails 'breakthrough' but questions linger
European leaders agree to press on with further steps to tackle their debt crisis but German Chancellor Angela Merkel has thrown out a proposal to boost risk-sharing with a fund to help euro zone states in trouble. Matt Cowan reports......

As aid approved, Athens faces unrest
Dec.14 - The euro zone agrees to provide nearly 50 billion euros in long-delayed aid to Athens, but the news comes as thousands of civil servants take to the streets protesting against job cuts. Ciara Sutton reports......

Europe Week Ahead: Rate decisions, fiscal cliff looms
Dec. 14 - Interest rate decisions, German Ifo, a looming U.S. fiscal cliff and an interview with Irelands Prime Minister to keep investors busy next week......

3XSQ: United Tech joins chorus of optimistic companies
Dec 14 - United Technologies joins 3M and Dupont with an optimistic outlook for the U.S. economy, saying it expects profit to rise about 13 percent next year......

Daily Digit: European car sales fall 10%
Dec. 14 - European car sales decline 10 percent in November, the market's first double-digit contraction in more than two years with France's Peugeot Citroen and Renault being particularly hard hit. Hayley Platt reports......

Japan nuclear operator admits ''lack of safety culture''
Dec 14 - Nuclear plant operator Tepco accepts the findings of an inquiry into the Fukushima nuclear disaster, admitting it was at fault. Lily Grimes reports......

U.S. Morning Call: Sprint Exclusive; It's Tech Friday
Dec 14 - Sprint's $2.1 billion offer to buy out Clearwire running into trouble with shareholders.....

Reuters on the Road: Cosm a third industrial revolution?
Dec. 14 - The founder of Cosm takes the taxi challenge to explain how the Internet of things enables devices to talk to each other, and could mark the start of a third industrial revolution......

Breakingviews: Others may take most of UBS Libor pain
Breakingviews......

Strong peso hurts Filipinos working abroad
Dec. 14 - The Philippines is Asia's second fastest growing economy, but the strengthening peso is hurting overseas workers whose foreign currency earnings are diminishing in value. Michaela Cabrera reports......

Reuters Today: Euro zone crisis over?
Dec. 14 - The conditions are in place for ending the euro zone crisis says Francois Hollande. UBS faces a $1 billion bill for Libor rigging. And could Kim Jong Un be Time's person of the year?.....

iPhone 5 arrives in China, but market is moving on
Dec. 14 - Apples latest handset might be a powerhouse globally, fighting Samsung for top rank, but weak distribution and a high price tag are limiting its sales in whats fast becoming the worlds largest smartphone market......

Asia Week Ahead: A shifting political picture
Asia Economics editor Wayne Arnold cautions against excessive expectations for change......

Fiscal cliff hangs over economy rebound
Dec. 13 - Summary of business headlines: Stocks break winning streak as fiscal cliff debate overshadows positive economic signals; BlackBerry 10 gets thumbs up from U.S. agency; Google Maps back on iPad, iPhone; Spring offers $2.1 billion for Clearwi.....

Market Pulse: What's Moving Today and Why
Insider has its finger on the market pulse, analyzing and making sense of the biggest movers of the day......

The Bank should be able to change its approach to monetary policy
With hindsight, the significant change in 1997 was giving the Bank of England independence, building confidence that monetary policy would not be positioned for political convenience.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

Do not be seduced by a 'fracking' gas bonanza
For several years now, storm clouds have loomed large over much of the Western world. The sub-prime debacle dealt the "advanced" economies a shocking blow.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26a20778/.....

After a generation of false dawns, is the sun starting to shine on Japan?
Looking around in the late 1980s for ways to put off getting a proper job, there seemed nowhere better to go than Japan.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26a2077c/mf.gif' border='0'/><br/>&.....

Economists warn Carney it is a mistake to change Bank's focus
The Bank of England has been warned off rethinking its inflation target by one of its own former policy makers, ahead of new figures which are expected to show prices are climbing once more.<img width='1' height='1' src='http://telegraph.feedsport.....

Barclays says $470m US energy manipulation case is 'baseless'
Barclays has described accusations from the US energy regulator that its staff attempted to manipulate the American electricity market as "baseless" and "hollow".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26.....

Bricks and clicks help John Lewis partnership's sales snowball
"Go and find out what's going on at John Lewis," my editor commanded. "Ask about the lovestruck snowman advert and the recession-busting sales figures and the ding-dong over Amazon's taxes. But don't gush. I repeat: Do Not Gush."<img width='1' hei.....

We're winning red tape war, says Fallon
Businesses are benefiting from a reduction in red-tape costs of almost 1bn, the Government will say this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26a2ad00/mf.gif' border='0'/>.....

DFS sales rise gives hope to economy
DFS has boosted hopes of a recovery in the UK economy after reporting a sharp rise in sales<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269dbce5/mf.gif' border='0'/><br/><br/><a href="http://.....

Comet set to disappear from high street
Comet is set to disappear from the high street next week in the most high-profile collapse since Woolworths in 2008.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269dbce4/mf.gif' border='0'/><br/><b.....

Fed wants to force foreign banks in US to hold more capital
Barclays among lenders that would be caught by proposed measures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269d9560/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/15153.....

BC Partners executive stands down in row over strategy
BC Partners, one of the biggest private equity firms in Europe, is embroiled in a power struggle after one of its best known managing partners stepped down over a dispute about the firm's investment strategy.<img width='1' height='1' src='http://t.....

Alfa oligarchs plot new oil future through stake in Regal Petroleum
Imprisoned Russian oligarch Mikhail Khodorkovsky has suggested BP chief executive Bob Dudley takes a "flexible" view of issues of corruption and human rights in Russia.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

FSA examines personal share trades at WH Ireland
The Financial Services Authority is understood to be looking into share dealings at WH Ireland, following the surprise exit of the stockbroker's chief executive.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269.....

Queen could benefit from shale gas boom
The Queen could be one of the first to benefit from Britain's shale gas boom, after it emerged a company is considering drilling on land owned by the Duchy of Lancaster.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Britain's economic fortunes are slowly starting to turn
Another week in the trenches and more evidence that it's not all bad news out there for the economy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269d177a/mf.gif' border='0'/><br/><br/><a href.....

Smiths shares supported by disposal speculation
Group could soon make disposal, Deutsche Bank analysts said.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269d12b5/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1515394627.....

David Cameron 'too busy' to tell business advisors they weren't needed
David Cameron has angered a group of business leaders after he was apparently "too busy" to sign letters that informed them he no longer required their advice.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269d1.....

LSE may cut offer for LCH.Clearnet by 180m
The London Stock Exchange is haggling to change the terms of its agreed 463m (376m) acquisition of a majority stake in the clearing house LCH.Clearnet, reportedly seeking to reduce the buy-out price by as much 200m.<img width='1' height='1' src='h.....

LSE may cut offer for LCH.Clearnet by 180m
The London Stock Exchange is haggling to change the terms of its agreed 463m (376m) acquisition of a majority stake in the clearing house LCH.Clearnet, reportedly seeking to reduce the buy-out price by as much 200m.<img width='1' height='1' src='h.....

Eurozone crisis drives car registrations to 19-year low
New car registrations in crisis-ridden Europe fell to a 19-year low in the first 11 months of 2012, with Britain the only major market to achieve growth.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269c7e51/mf.....

SFO charges Weavering Capital founder Magnus Peterson with fraud
The Serious Fraud Office has charged Magnus Peterson, the founder of hedge fund Weavering Capital, with fraud.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269c4fd9/mf.gif' border='0'/><br/><br/>.....

'Sinister' FSA criticised by former HBOS chief Peter Cummings
The Financial Services Authority has been accused of "sinister" and "outrageous" behaviour in singling out HBOS director Peter Cummings for punishment and trying to mask its own failings in regulating Britain's banks.<img width='1' height='1' src=.....

Japan hits out at S&P over 'significant' ratings problems
Japan has ordered Standard & Poor's to improve its operations after finding "significant problems", in the latest criticism of credit rating agencies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/269b59b9/m.....

Taste for luxury brings rising sales to Smythson
Smythson, the Mayfair stationer where Samantha Cameron works as a creative consultant, has enjoyed a 21pc rise in sales thanks to strong demand for its luxury leather goods.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Vladimir Strzhalkovsky receives largest pay-off in Russian corporate history
Vladimir Strzhalkovsky, who served as the chief executive of Russian mining group Norilsk Nickel is to receive a $100m (62m) golden parachute pay-off, the largest in the country's corporate history.<img width='1' height='1' src='http://telegraph.f.....