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Wednesday 26 December 2012

UK Financial News on 2012-12-26

Boxing Day shoppers out in force
Shoppers queue overnight and flock to stores across the UK, and are predicted to spend almost 3bn at the Boxing Day sales......

Tube drivers in Boxing Day strike
Passengers in London face disruption as Tube drivers who are members of the Aslef union go on strike over bank holiday pay......

Toyota poised to retake top spot
Toyota is set to reclaim the title of world's biggest carmaker in 2012, after natural disasters pushed the Japanese firm into third place in 2011......

US Treasury in debt limit delay
The US Treasury is to take extraordinary measures to delay reaching a 31 December borrowing limit, as the so-called "fiscal cliff" looms......

Audit office to examine BBC pay-offs
The National Audit Office is to probe BBC severance packages in the wake of the departure of director general George Entwistle......

Japan's Shinzo Abe names cabinet
Japan's new prime minister Shinzo Abe unveils his cabinet line-up as he begins the task of economic revitalisation......

China opens longest bullet route
China officially opens the world's longest high-speed rail route, linking the capital Beijing with the southern commercial hub of Guangzhou......

VIDEO: Online returns: your rights explained
A third of the UK's biggest shopping websites are flouting laws designed to protect customers who need to return goods, according to the Office of Fair Trading......

VIDEO: Inside a Swiss gold refinery
Imogen Foulkes gained rare access to one of the world's four major gold refineries in Switzerland for a look at this highly secretive industry......

VIDEO: Shoppers hunt for Boxing Day bargains
Millions of shoppers have flocked to stores across Britain for record-breaking Boxing Day sales......

Brazil economy loses ground again
Why Brazil has slipped behind UK in economy league.....

Gold refineries - another Swiss money-spinner
Gold refining business thrives in Switzerland.....

Why kindness can help businesses grow
Why good deeds pay in the naughty world of business.....

Viewpoint: On the logistics frontline
Dispatches from the frontline of logistics.....

Africa and China: Workers face clash of cultures
Do Africans and Chinese understand each other?.....

Ho hum holidays for retailers
Dec. 26 - Retailers' sales barely increased this holiday season, according to a preliminary estimate- a big disappointment from optimistic expectations. Bobbi Rebell reports......

DAILY DIGIT: 0.7% gain in home prices
Dec. 26 - The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.7 percent in October on a seasonally adjusted basis, more than economists expected. Conway G. Gittens reports......

U.S. Day Ahead: It's back to scaling the cliff
Dec 26 - As President Obama and Congress get back to resolving the fiscal cliff, here are three likely scenarios of how a deal could be made......

Fireworks explosion sparks major fire in Lagos
Dec. 26 - An explosion rips through a fireworks warehouse in Nigeria's commercial hub Lagos. Deborah Lutterbeck reports......

Techquity: Amazon falters, cloud troubles
Dec 26 - A double whammy of bad news for Amazon which also hurts cloud computing stocks......

Trading at Noon: Retail sector drags U.S. stocks down
Dec 26 - Preliminary estimates of retail sales during the holiday season show weak growth compared to 2011......

3XSQ: Hope and change on Wall Street?
Dec 26 - Investors expressing some optimism as President Obama cuts his vacation short to deal with fiscal cliff......

U.S. Morning Call: Investors play the waiting game
Dec 26 - U.S. stock futures are pointing to a slightly higher open as the deadline for the fiscal cliff approaches......

Bargain-hunters drive record Christmas sales
Bargain-hunters drive massive sales this Christmas with both John Lewis and Selfridges reporting record figures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f4eb19/mf.gif' border='0'/><br/><br/&g.....

Pensioners are about to be robbed yet again
The Chancellor is poised to alter the way inflation is calculated and interest paid, says Philip Johnston.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f46cf7/mf.gif' border='0'/><br/><br/><.....

Banner year for investors, especially outside Britain
It may have been a positive year for the FTSE 100, with the index rising 6.85pc, but UK gains look positively pedestrian when compared with the rest of the world.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26.....

Over-taxed France should review deficit target, says IMF
France should review its 3pc deficit target with Brussels, the International Monetary Fund has said, as it warned that the country's already high tax burden risked dampening economic activity further.<img width='1' height='1' src='http://telegraph.....

Diageo caters to the taste of China's billionaires
Diageo has opened a whisky clubhouse in Beijing to meet growing demand.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f3bf52/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r.....

China launches world's longest bullet train service
China launched the world's longest high-speed rail route on Wednesday, the latest milestone in the country's rapid and - sometimes troubled - super fast rail network.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

Government funds research into prize-winning material
The Government is to invest 21.5m in the development and commercialisation of graphene, a new material that is predicted to start a wave of industrial developments.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Stanlow refinery plots path to survival amid industry gloom
Essar Energy believes Stanlow refinery can survive the gloom that threatens the UK industry - but warns more refinery closures will leave Britain ever more dependent on imported fuels.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Carbon price floor threatens UK refiners, Essar Energy warns
Britain's unilateral carbon price floor could push more UK refineries towards closure, the head of Essar Energy's Stanlow refinery has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a8d/mf.gif' borde.....

C&C Group seals deal for Vermont Hard Cider Company
The Anglo-Irish firm behind Magners C&C Group, has added US rival, Vermont Hard Cider Company, to its portfolio of drinks brands for $305m (189m).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a8e/mf.gi.....

Sprouts take a battering in 2012
As you peer into the fridge today, eye the sorry remains of Christmas dinner and wonder how you're ever going to finish the enormous sack of Brussels sprouts lurking menacingly in the corner, Devon farmer Antony Coker has a few suggestions for you.&l.....

Second weakest Santa rally since financial crisis
The FTSE 100 has registered one of its weakest "Santa rallies" since the financial crisis, as worries over America's impending fiscal cliff weighed on the traditional end-of-year gain.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Crispin Odey suffers 6m pay cut
Crispin Odey, one of the UK's most successful hedge fund managers, suffered a pay cut of more than a third this year but still took home 9.4m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a91/mf.gif' borde.....

Retailers boosted by busiest shopping weekend of the year
J Sainsbury recorded its busiest ever trading hour as British shoppers hit the high-streets for last minute Christmas spending.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a92/mf.gif' border='0'/><b.....

The world's most powerful economies
Britain has reclaimed its place as the world's sixth largest economy from Brazil and will be larger than France by 2022, according to the Centre for Economics and Business Research (CEBR). Here are the world's top ten economies, and where in the leag.....

2012 business quiz of the year
We test your knowledge of some key events in the business world in 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a94/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

US lambasts China for breaches of trade rules
Washington has issued a blistering attack on China for persistent breaches of world trade rules and abuse of industrial secrets, accusing Beijing of failing to abide by treaty obligations.<img width='1' height='1' src='http://telegraph.feedsportal.....

MegaFon's Russian chief buys $155m stake
Ivan Tavrin, the chief executive of MegaFon, has bought $155m (96m) stake in the London-listed Russian mobile phone operator.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a9a/mf.gif' border='0'/><br/.....

UK reclaims sixth largest economy slot
Britain has reclaimed its place as the world's sixth largest economy from Brazil and will be larger than France by 2022, a leading forecaster has predicted.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f0c579.....

Alex: It's A Wonderful Crisis - part 3
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f14a9b/mf.gif' border='0'/>.....

Boxing Day sales hit as 47,000-a-year train drivers strike
Boxing Day shoppers are facing travel disruption after train drivers earning up to 47,000 a year went on strike because they want more "quality time" at Christmas.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

Bargain hunters will spend 2.4 billion in Boxing Day sales
Ten million Boxing Day bargain hunters are set to spend 2.4 billion in the sales today as the high street hopes to boost its coffers on the biggest shopping day of the year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Bargain hunters will spend 2.4 billion in Boxing Day sales
Ten million Boxing Day bargain hunters are set to spend 2.4 billion in the sales today as the high street hopes to boost its coffers on the biggest shopping day of the year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Boxing Day sales set records online and in store
Bargain hunters drive record sales with John Lewis seeing busiest ever hour online and Selfridges taking record 1.5m in 60 minutes<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/26f331fe/mf.gif' border='0'/>.....