Search This Blog

Monday 31 December 2012

UK Financial News on 2012-12-31

US to miss 'fiscal cliff' deadline
The US will head over the "fiscal cliff", at least temporarily, after the House of Representatives said it would not vote before a midnight deadline......

Commissions banned on new sales
Financial salesmen and advisers can no longer be paid commissions by the firms whose policies - such as private pensions and investments - that they are selling......

UK must stay in Europe, says CBI
The CBI says the UK needs to keep its place within the European Union to push for freer trade for its businesses......

Wall Street Market Report
Wall Street shares close up 1.3% after President Obama says that a deal to avoid the fiscal cliff is in sight......

London Market Report
London's benchmark FTSE 100 index ends the year nearly 6% higher, having fallen by 5.6% during 2011......

Portuguese prepare for tax blow
Portugal's president signs into law a controversial 2013 budget imposing big tax increases......

House owners raise stake in homes
UK homeowners' collective stake in the value of their homes rose by 8bn in the third three months of the year, figures show......

209 rogue claims firms shut down
More than 200 rogue claims management companies were shut down recently as part of a crackdown, according to the Ministry of Justice......

Wigan in first profit in years
Premier League football club Wigan Athletic posts its first profit in years as it trims salaries and cuts debt......

Egyptian pound in further slide
The Egyptian pound falls further against the US dollar, despite efforts by the country's financial authorities to intervene in the money markets......

Merkel warns of tough times ahead
Chancellor Angela Merkel warns Germans that the economic climate in 2013 will be "even more difficult"......

Duncan Smith condemns tax credits
The work and pensions secretary says Labour's tax credit system has resulted in "a sorry story of dependency, wasted taxpayers' money and fraud"......

Tube cleaners in strike over pay
London Underground station cleaners begin a 48-hour strike in a dispute over pay......

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......

Deal 'closer' in US fiscal talks
US congressional leaders are said to be closing in on a deal to avoid the "fiscal cliff" of tax rises and spending cuts ahead of a midnight deadline......

VIDEO: Newsweek publishes last paper edition
Newsweek, the weekly news magazine, has published its last edition on paper......

VIDEO: Bagpipe business thrives in Pakistan
The bagpipe business is thriving in Pakistan, with the instrument proving popular to play as well as being a successful export......

VIDEO: EU faces task of creating bank union
One of the biggest tasks for the European Union in the coming year will be to deliver on its far-reaching banking union proposal......

VIDEO: New TUC boss 'to reach out'
The incoming leader of the Trade Union Congress, Frances O'Grady, has vowed to "reach out" to workers and employers to try to gauge opinions about how the organisation can make a difference......

VIDEO: Christmas boom in board game sales
Retailers have reported a boom in board game sales over the festive period, as families look for a more traditional form of entertainment......

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......

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?......

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.....

Ringing in investing 2013
Dec. 31 - 2012 was a great year for stocks with the Nasdaq up 16 percent and S&P 500 gaining more than 13 percent. A look at what investors can expect in 2013. Bobbi Rebell reports......

U.S. Day Ahead: Investors look optimistic for 2013
Dec 31 - Despite the wrangling in Washington over the fiscal cliff, there seems to be a new sense of optimism going into the New Year......

Obama says deal "within sight, but it is not done"
Dec. 31 - U.S. President Obama said on Monday that a deal to avoid the U.S. "fiscal cliff," is close, but he warned that it was not yet complete. Deborah Lutterbeck reports......

Obama: Fiscal cliff deal in sight, not done yet
Dec. 31 - U.S. President Barack Obama on Monday said it appeared a deal on the "fiscal cliff" was within sight but it was not complete yet. Rough Cut (no reporter narration)......

Techquity: Liking Facebook, picking winners in 2013
Dec 31 - Two analysts raise their price targets on the social network. Plus, Greencrest Capital senior analyst Max Wolff gives us his top large-cap tech pick for 2013......

Trading at Noon: New year...Same ol' fiscal cliff
Dec 31 - Lawmakers are rushing to meet a Jan 1 deadline to avoid the fiscal cliff......

Reid: Fiscal Cliff talks continue
Dec. 31 - Senate Majority Leader Harry Reid says talks continue to avert a fiscal cliff with no resolution yet as the deadline looms. Rough Cut (no reporter narration)......

Daily digit: Greek retail sales slump
Dec.31 - Sales in Greece's retail sector have fallen 18.1% as deep recession and record-high unemployment take their toll on consumer spending. Sonia Legg reports.....

3XSQ: U.S. markets finish 2012 higher; Tribune rises again
Dec 31 - Global shares are steady as the 'cliff' deadline nears & Tribune emerged from bankruptcy, ending four years of Chapter 11 reorganization......

Paris' oldest bakery closes
Dec.31 - After 200 years of business, Paris' oldest boulangerie is being forced to close because the shop's landlord doubled the rent in line with rising property prices. Sonia Legg reports.....

The 2012 stumbles of tech's new class
Technology Correspondent Matt Cowan explores what lessons can be learned, and what's next for the tech sector......

Breakingviews: Fiscal cliff disaster, or not?
Breakingviews.....

Whisky maker mixes drinking and driving
Dec.31 - Millions of people around the globe will toast the new year with a glass of one of Scotland's best exports but only one traditional whisky also provides fuel for your car. Ivor Bennett reports from the Scottish distillery, Tullibardine, whic.....

Reuters Today: Still no sign of "fiscal cliff" deal
Dec. 31 - U.S. budget talks falter as the clock ticks down. Parties blame each other for failing to reach a deal on averting the fiscal cliff......

Factbox: Asia's top equity markets of 2012
Dec. 31 - Southeast Asian equities stole the limelight in 2012, but a last-minute surge in Chinese stocks may signal a taste of what's to come in the new year......

Daily Digit: Factory data highlights China's balancing act
Dec. 31 - A key reading of manufacturing activity shows recovery will remain on track in the new year, but weak export data underlines China's need to foster more domestic demand. Andrew Swift reports......

U.S. Morning Call: Washington, markets await 'fiscal' deal
Dec 31 - Investors turn to Washington as the U.S. Congress comes back today without a deal to avert the "fiscal cliff"......

Breakingviews: Predictions 2013
Dec. 31 - U.S. and emerging market equities look the best bet for investors, says Breakingviews, in their roundup of 2013 predictions......

Market Pulse: Gold headed for $1,800, cliff-pocalypse or not
Dec. 31 - The world has survived gloomy Y2K and Mayan prophecies, and is still spinning on its axis. Will that be the case if the U.S. goes over the fiscal cliff? Whatever happens, buy gold, says ETX Capital......

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......

Fiscal cliff: House delays vote on fiscal cliff deal - live
The House of Representatives will not vote on any fiscal cliff deal tonight as politicians in Washington now eye an agreement over the next few days.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2716d234/mf.gif.....

Fiscal cliff: A deal is within sight but not done, says Barack Obama - live
President Barack Obama maintained that he was hopeful Congress could "get a deal done" and stop America going over the fiscal cliff at the stroke of midnight.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2715bf.....

Austerity has made Europe worse, says Cyprus President Demetris Christofias
Cyprus President Demetris Christofias has hit out against the harsh austerity measures being meted out to struggling eurozone members as the Mediterranean island faces a bleak new year.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Fiscal cliff: Outline of a deal begins to emerge
The contours of a deal to avert the US "fiscal cliff" were emerging with just hours before a midnight deadline, according to reports.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2715bfdd/mf.gif' border='0'/>.....

Fiscal cliff: We're not there yet, says Harry Reid - live
Harry Reid, the Senate majority leader, said he was hopeful negotiators could reach a last-minute deal to avoid America going over the fiscal cliff at the stroke of midnight.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Afferro surges 10pc as takeover auction heats up
Afferro Mining was one of the few stocks to stand out from the crowd.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2715a0fd/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1.....

If you can't afford advice, here are 10 top tips for DIY investing
New rules banning payment of commission to financial advisers may force hundreds of thousands of people to become DIY investors.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2715a0fe/mf.gif' border='0'/><.....

Huawei partner 'offered embargoed Hewlett-Packard gear to Iran'
The Chinese technology company Huawei is under the spotlight again after documents were uncovered that allegedly show it offered to sell 1.3m (1.1m) of Hewlett-Packard equipment to Iran through a local partner, in breach of trade sanctions.<img wi.....

Fiscal cliff: Washington awaiting deal hours from fiscal cliff - live
American politicians are battling to strike a last-minute deal to scale back $600bn of spending cuts and tax rises that are due to take effect from New Year's Day.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

My female business champions of 2012
There are two women in particular that must be applauded for the relentless effort to create jobs and boost the UK economy in 2012, writes Barbara Kasumu.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27153394/m.....

Ministry shuts 200 'ambulance chasing' companies
More than 350 "rogue" claims management companies have been shut down or given warnings by the Ministry of Justice over the past six months in a crackdown on "ambulance chasing" firms.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Five big threats to your wealth in 2013
A 33pc fall in the FTSE and the eurozone are among key concerns.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27152d3e/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/151540.....

FTSE 100 falls and Dow climbs on last day of 2012
Weakness in risk-sensitive banks, miners and energy stocks pulled Britain's leading shares lower on Monday, the final trading session of 2012, with the outlook for 2013 soured by stalled US budget talks.<img width='1' height='1' src='http://telegr.....

Cowie's quick guides - fixed rate mortgages
Ian Cowie looks at loans that take away the worry of rising interest rates.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2715339f/mf.gif' border='0'/>.....

Greece to probe former finance minister over Swiss bank account list
Greece's governing coalition has moved to set up a parliamentary probe into allegations that former Finance Minister George Papaconstantinou tampered with a list of some 2,000 wealthy Greeks with Swiss bank accounts.<img width='1' height='1' src='.....

Private equity IPO volumes halve in 2012
The money raised by the stock market flotations of private equity-backed companies across the world almost halved last year, according to Ernst & Young.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/271525b8.....

FTSE 100 and Dow fall on last day of 2012
Weakness in risk-sensitive banks, miners and energy stocks pulled Britain's leading shares lower on Monday, the final trading session of 2012, with the outlook for 2013 soured by stalled US budget talks.<img width='1' height='1' src='http://telegr.....

Top business stories of 2012
From Libor-rigging to mega-mergers - plus mega-mergers that never happened - 2012 was a jam-packed year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2714ecae/mf.gif' border='0'/>.....

Hours left if you want to beat rail fare rise
Travellers who want to save on next year's tickets have just hours to make their purchases before New Year rises.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27146d70/mf.gif' border='0'/><br/><br/&.....

Savvy supermarket shopper: three cast-iron ways to save
Three shopping resolutions that will genuinely leave families better off in 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27146d72/mf.gif' border='0'/>.....

Greek retail sales slump as austerity-hit consumers rein in spending
Greek retail sales fell 18.1pc year-on-year in October, recording the steepest drop in almost two years, as the deep recession and record-high unemployment took a toll on consumer spending.<img width='1' height='1' src='http://telegraph.feedsporta.....

New rules on financial advice: how are you affected?
New rules that ban commission payments to financial advisers come into force today. But how will they affect consumers buying various financial products?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27146a7e/mf.....

FTSE 100 falls on last day of 2012
Weakness in risk-sensitive banks, miners and energy stocks pulled Britain's leading shares lower on Monday, the final trading session of 2012, with the outlook for 2013 soured by stalled US budget talks.<img width='1' height='1' src='http://telegr.....

The best investors of 2012 return more than 40pc
The FTSE 100's gains this year have been overshadowed by certain fund managers. The best stock-picker turned turned 1,000 into 1,415.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27144061/mf.gif' border='0'/>.....

The best investors of 2012 return more than 40pc
The FTSE 100's gains this year have been overshadowed by certain fund managers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2713d43b/mf.gif' border='0'/><br/><br/><a href="http://da.feedsport.....