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Sunday 30 December 2012

UK Financial News on 2012-12-30

Most 'spent less on Christmas'
A majority of consumers spent less on their Christmas shopping this year than they did in 2011, according to the consumers' association Which?.....

Obama presses Republicans on deal
President Obama puts pressure on Republicans to accept a deal aimed at avoiding a tax and spending "fiscal cliff", as the end-of-year deadline looms......

Former City regulator knighted
A former head of the Financial Services Authority and a founding member of the Bank of England's Monetary Policy Committee are recognised in the New Year Honours......

Egypt hopeful on IMF loan talks
Egypt will soon resume talks with the International Monetary Fund over a crucial $4.8bn (3bn) loan to shore up the economy, the prime minister says, as the currency weakens further......

Warning of 'nation divided' by cuts
The government's cuts programme could lead to "problems on our streets" and "the break-up of civil society", three Labour council leaders warn......

Bolivia takes over Spanish firms
President Evo Morales signs a decree nationalising subsidiaries of Spanish energy giant Iberdrola, saying they overcharged consumers in rural areas......

First-time house purchases 'up 12%'
The number of house purchases by first-time buyers is up 12% this year, with about 216,000 people stepping on the property ladder, reports the Halifax......

VIDEO: Christmas struggle for consumers
Millions of people cut back on their Christmas shopping in 2012 or struggled to pay for it, according to the consumer group Which?......

VIDEO: Postmistress lends own money
A village post office could not pay pensions or benefits for 11 days over Christmas after its broadband connection was cut off......

What if we jump over the US fiscal cliff?
What if we jump off the US fiscal cliff?.....

Why are rail fares going up again?
Why season tickets cost as much as a Ducati motorbike.....

Greek retail employees march against Sunday work, scuffle with police
Dec. 30 - Shop employees say "Never on Sunday" and march in Athens' main shopping street, defying rain and scuffling with police. Rough Cut (no reporter narration)......

With hours remaining, US fiscal deal uncertain
Dec. 30 - The chances of a deal to prevent the U.S. economy from tumbling over a "fiscal cliff" remain uncertain Sunday. Rough Cut (no reporter narration)......

Obama: Failure to reach fiscal deal would hurt markets
Dec. 30 - U.S. President Barack Obama tells NBC's Meet the Press that if Congress fails to resolve fiscal cliff it will hurt financial markets. Deborah Lutterbeck reports......

Obama presses Congress to resolve fiscal cliff
Dec. 29 - U.S. President Obama calls for resolution to fiscal cliff talks in weekly address. Deborah Lutterbeck reports......

Fifth day of fiscal cliff fizzle
Dec. 28 - Summary of business headlines: Stocks slide for fifth day over 'fiscal cliff' stalemate; Existing home sales rise to highest in 2 1/2 years; Port strike averted for 30 days; Apple won't sue over Galaxy S III. Carmen Roberts reports......

Deal or no deal, U.S. feels pain
Dec. 28 - Whether Washington delivers a scaled-down tax and spending plan, a retroactive one or none at all, the U.S. economy will not emerge unscathed. Jeanne Yurman reports......

Obama: modestly "optimistic" fiscal cliff deal can be reached
Dec. 28 - President Obama held out hope for a last-minute agreement to avoid the "fiscal cliff" after a meeting with congressional leaders. Deborah Lutterbeck reports......

Three years on, FSA fails to bite over bankers' pay
The Financial Services Authority has not launched a single enforcement action against any regulated business for failing to comply with its remuneration code since the rules were introduced three years ago.<img width='1' height='1' src='http://tel.....

Hedge funds reap record profits from bets on QE
Super-rich hedge fund financiers emerged as the big winners from the Bank of England's money printing programme in 2012, as pensioners and savers were made to struggle with shrunken incomes.<img width='1' height='1' src='http://telegraph.feedsport.....

Barack Obama makes 11th hour appeal to avoid fiscal cliff
Barack Obama has made an urgent final appeal to a bitterly divided Congress to steer America away from the "fiscal cliff" as Democrats and Republicans remained locked in tense eleventh-hour negotiations.<img width='1' height='1' src='http://telegr.....

Christmas 'paid for with credit', says Which?
Nearly half of Britons paid for their Christmas on credit this year, research from a consumer group found.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270f6595/mf.gif' border='0'/><br/><br/><.....

Autotrader suitors eye Guardian Media Group's stake
Guardian Media Group (GMG) has received expressions of interest in its controlling stake in Trader Media Group, which owns used car advertising business Auto Trader.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Crisis, what crisis? The Square Mile fights back
The City has survived far worse setbacks than this economic malaise and is poised for recovery, according to Peter Rees, its head of planning.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270f602d/mf.gif' borde.....

Barack Obama in market confidence warning over 'fiscal cliff' talks
President Obama predicts an "adverse reaction" in financial markets if U.S Congress fails to reach an agreement on the so-called fiscal cliff, during an appearance on NBC's Meet the Press.<img width='1' height='1' src='http://telegraph.feedsportal.....

Libor scandal hits traders as RBS 'cuts bonuses'
Royal Bank of Scotland plans to claw back bonuses from staff to cover the cost of an expected 350m fine for rigging the Libor rate.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270e415e/mf.gif' border='0'/>&.....

Households spend 80 less on presents this Christmas
Each household in Britain spent around 80 less than expected on Christmas presents and in post-Christmas sales, despite a late surge in spending on the high street, experts say.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

2012 in review: Best business quotes
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270e94d1/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/151540057272/u/3/f/568300/c/32726/s/270e94d1/kg/321/a2.htm"><img.....

Egypt sees IMF talks resuming in January
Egyptian prime minister Hisham Kandil said on Sunday he expected a resumption of talks in January with the International Monetary Fund on a $4.8bn loan.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270dcd91/mf......

Oil trader Vitol in talks over tax-avoidance bill
Oil trader Vitol is in talks with HM Revenue & Customs to settle a claim for millions of pounds in taxes its senior staff avoided through an offshore pay scheme.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

What the papers say: Sunday business news round-up
Telegraph Finance's round-up of the top business headlines in the Sunday newspapers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270dc36c/mf.gif' border='0'/><br/><br/><a href="http://da.feed.....

Rosemary Conley: 'I made 40p a book - it's not life-changing money'
Rosemary Conley, the fitness and diet guru, started her first business with just 8, selling it a decade later for 52,000. But she can't stop looking for new opportunities.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

2013: a look into your financial future
What can investors, borrowers and savers and expect in 2013? We ask the experts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270c68d5/mf.gif' border='0'/><br/><br/><a href="http://da.feedspor.....

Failure to clinch fiscal cliff deal would hurt markets, warns Barack Obama
Obama warns of "adverse reaction" in financial markets should Congress fail to avert the so-called fiscal cliff facing America.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270e9cdc/mf.gif' border='0'/>.....

US leaders must send message to markets on fiscal cliff, says Goldman economist
Goldman Sachs' senior economist has claimed that American politicans must send a clear signal that they can reach a deal on the fiscal cliff in order to steady the markets.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Alex: It's A Wonderful Crisis - part 7
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270ca2d1/mf.gif' border='0'/>.....

Obama told to focus on growth in last-ditch fiscal cliff scramble
The world's biggest bond investor has warned America's political leaders not to neglect the need to strengthen the recovery as the country struggles to stitch together a last-minute deal to tackle its $16.4trillion debt pile.<img width='1' height=.....

UK should step up defence of financial services
The Government must do more to defend the contribution the financial services sector makes to the wider economy because it is not just about "a few people drinking Bollinger", according to the City of London Corporation.<img width='1' height='1' s.....

Nuclear sector pushes for green light on waste dump
Britain's nuclear industry has warned that a "no" vote by local councils on crucial plans to assess sites for a major radioactive waste dump would be "an injustice to future generations".<img width='1' height='1' src='http://telegraph.feedsportal......

Nuclear sector pushes for green light on waste dumps
Britain's nuclear industry has warned that a "no" vote by local councils on crucial plans to assess sites for a major radioactive waste dump would be "an injustice to future generations".<img width='1' height='1' src='http://telegraph.feedsportal......

Goliath vs Goliath...Amazon takes on Apple and Google
Amazon wants to become a fully fledged tech company up against Google and Apple. Katherine Rushton travelled to the US to find out why.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270ca2d3/mf.gif' border='0'/&.....

Amazon plans tech assault
Amazon has announced major expansion plans beyond its traditional retail operations that could see it competing with Google and Apple as one of the largest technology companies in the world.<img width='1' height='1' src='http://telegraph.feedsport.....

Top ten share tips for 2013
<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/270ba481/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/151540042981/u/3/f/568300/c/32726/s/270ba481/a2.htm"><img src="h.....