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Wednesday 2 January 2013

UK Financial News on 2013-01-02

Markets rally on US fiscal deal
Global stock markets rally after a short-term deal to stave off the US "fiscal cliff" was reached, averting spending cuts and tax increases worth $600bn (370bn)......

Avis buys car sharing firm Zipcar
Global car hire group Avis Budget is to get into the fast-growing car sharing market by buying Zipcar for $500m......

John Lewis' Christmas sales jump
The department store chain John Lewis said its sales in the five weeks to the end of December rose by 13%, with both stores and online doing well......

Rail travellers hit by fare rises
Rail fare increases have come into force in England, Wales and Scotland amid claims that fares are going up three times faster than average earnings......

House prices in London rise by 7%
House prices in London rose by 7% in the year to the end of October, far outstripping increases elsewhere, says the Land Registry.....

Call for US-style 'local shop day'
The UK should emulate the US idea of having a day dedicated to encouraging people to shop at small, local shops, Labour's Chuka Umunna says......

WPP's Sorrell reignites tax row
The amount of corporation tax companies pay is "a question of judgement", Sir Martin Sorrell, head of advertising group WPP, tells the BBC......

'Positive signs' for year ahead
A survey of small firms has found confidence remains low but this year promises to be a better one than the previous two years......

Portuguese budget sent to court
The Portuguese president says that he will send this year's controversial budget to the Constitutional Court to examine its fairness......

Battle over plan to cap benefits
The government says it is unfair for benefits to rise at a faster rate than wages, but Labour opposes plans to cap rises to 1%, ahead of a key Commons vote......

UK assumes presidency of G8 group
The UK has begun its year-long presidency of the G8 group of nations, which will include hosting a summit in Northern Ireland......

China factories see steady growth
Manufacturing activity in China expands for the third month in a row, adding to hopes of a rebound in the world's second-largest economy......

Singapore growth beats estimates
Singapore's economy averts a recession, as it reported better-than-expected growth data for the fourth quarter......

Digital sales break 1bn barrier
More than a billion pounds was spent in 2012 for the first time on downloaded videos, music and games......

Ground-breaking OLED TV on sale
The first large OLED television, which promises higher image quality than LCD sets, goes on sale in South Korea......

Italy's Monti launches campaign
Italy's caretaker Prime Minister, Mario Monti, promises to cut labour taxes in an interview seen as the launch of his election campaign......

Hollande vows to revive supertax
France's President Francois Hollande says he still plans to raise the top rate of income tax after his 75% plan was struck down on technical grounds......

Kingfisher loses licence to fly
India's debt-ridden Kingfisher Airlines loses its flying permit after a deadline to renew its suspended licence expires, the aviation regulator says......

VIDEO: WPP's Sorrell reignites tax row
Sir Martin Sorrell, chief executive of global advertising group WPP, has said the amount of corporation tax companies pay is largely "a question of judgement"......

VIDEO: Rail passengers hit by fare rises
Above-inflation rail fare increases have come into force in England, Wales and Scotland amid claims that fares are going up three times faster than average earnings......

VIDEO: 'Government to blame' for rail prices
Rail fares for season ticket holders have increased by an average of 4.2% as the annual price hike, announced in August, comes into effect......

VIDEO: Digital sales break 1bn barrier
More than a billion pounds was spent in 2012 for the first time on downloaded videos, music and games......

VIDEO: Is 2013 a bad year to get married?
Some people might think that getting married in a year with the number 13 in the date could be unlucky - but it could actually save you money......

VIDEO: India pilots new welfare system
A new system, which aims to deposit cash payments for welfare programmes directly into the bank accounts of the beneficiaries, is being piloted in India.....

VIDEO: Tax warning for online sellers
Many unwanted gifts end up on auction sites like eBay, but how many items can you list before the taxman catches up with you?.....

VIDEO: Rogue landlords targeted by scheme
Newham Council in east London is becoming the first local authority in England to introduce a compulsory system of landlord registration......

Why are rail fares going up again?
Why rail fares are going up regardless of the service.....

Hong Kong struggles to cut food waste
Hong Kong struggles to cut food waste.....

Isas: what they are and how to get one
A guide to Isas for cash and shares.....

Smart fabrics and other future tech
A look at the emerging technologies of the near future.....

Paying with 'kisses' in Brazil
How Brazil's alternative currencies are changing lives.....

Key issues facing Asian economies
Asian economies face regional and global challenges in 2013.....

U.S. Day Ahead: Holiday retail sales look very un-merry
data......

U.S. stocks join in global rally
Jan. 2 - Following the lead of other major markets around the world, U.S. stocks rallied sharply higher a day after news of a 'fiscal cliff' deal. Jeanne Yurman reports......

Daily Digit: 50.7 on ISM index
Jan. 2 - The Institute for Supply Management index rose to 50.7 showing slight expansion in national factory activity, but still not a lot of life. Jeanne Yurman reports......

Techquity: Amazon win over Apple; More Facebook friends
Jan 2 - U.S. judge sides with Amazon in dispute with Apple, while more analysts raise their price targets on Facebook......

Trading at Noon: From banks to retail-stocks up on deal
Jan 2 - U.S. stocks surged on the first trading day of 2013 after lawmakers agreed on a deal to avoid massive tax hikes and spending cuts......

Breakingviews: Putting Lehman back together again
Breakingviews columnists offer their predictions for 2013. Chief among them, the possible reconstitution of Lehman Brothers......

Europe Day Ahead: Relief rally may be shortlived
Jan. 2 - A look at Thursdays key events including the latest German jobless data, UK construction PMI and Nexts Q4 trading report......

Europe's first free public transport city
Jan.02 - Tallinn in Estonia has just become the first European capital to offer its residents free public transport. The scheme was introduced on January 1 as Hayley Platt reports.....

Stocks jump on U.S. fiscal cliff deal
Jan. 02 - Following on from Asia, European shares, oil and gold rise after U.S. politicians struck a deal to avoid the "fiscal cliff". But analysts warn the relief rally won't last and U.S. and European politicians need to work out how to boost growt.....

Euro zone factory slump worsens
Jan.02 - Orders were still down at the end of 2012, keeping PMI figures below the crucial point that marks growth, but Italy's manufacturing hit a nine-month high, and Ireland showed signs of growth. Joanne Nicholson reports.....

Wealth Strategies: Post-cliff, markets to focus on earnings
Jan 2 - Markets have averted a crisis, thanks to a fiscal cliff deal, says Victory Capital's Erick Maronak, but investors' focus will now shift to what might be a tepid earnings season......

3XSQ: Markets around the world lifted on "fiscal cliff" deal
Jan 2 - The U.S. House of Representatives approved a Senate bill New Year's Day to avert $600 billion in tax increases and spending cuts......

Daily digit: Banks slash cash bonuses
Jan.02 - Bankers bonuses are likely to be down 30 percent as European banks limit the cash portion of this year's staff bonuses as rocky markets, tighter capital rules and costly scandals take their toll. Hayley Platt reports......

Breakingviews: Fiscal cliff relief misses point
Breakingviews......

One-child policy shift won't usher in China baby boom
Jan. 2 - China could ease its one-child policy to address a rapidly aging population -- but as Jane Lee reports, rules aren't the only thing stopping Chinese families from expanding......

Reuters Today: U.S. back in business, for now
Jan. 2 - The U.S. has passed a bill raising taxes for the rich, delayed spending cuts for two months. The deal is good for the Aussie and the euro, says Steven Saywell from BNP Paribas......

Factbox: Asia fiscal cliff relief rally may be short-lived
Jan. 2 - Asian markets jumped as U.S. politicians sealed a last-minute deal to avert a punishing combination of tax hikes and spending cuts -- but analysts warn other precipices lie in wait......

Fiscal cliff drama over
Jan. 2 - House votes in favor of a bill that will avert the so-called fiscal cliff. Julie Noce reports......

U.S. Morning Call: Stock futures surge on fiscal deal
Jan 2 - Global shares are rallying after lawmakers passed a bill preventing huge tax hikes and spending cuts......

Market Pulse: Cliff dodged, ceiling looms
Jan. 2 - Global equity markets jump as Washington does a last-minute deal, but talks to lift the debt ceiling loom, while more weak data out of the euro zone remind us that the old problems havent gone away......

House mulls over fiscal cliff deal
Jan. 1 - Washington's last-minute scramble to step back from a recession-inducing "fiscal cliff" shifted to the Republican-controlled House of Representatives on Tuesday after the Senate approved a bipartisan deal to avoid steep tax hikes and spendin.....

US reaches 'fiscal cliff' deal
Jan. 1 - The White House and congressional lawmakers agree a deal to delay harsh spending cuts. Paul Chapman reports......

Warren Buffett to build world's largest solar energy project
Billionaire investor Warren Buffett is to spend up to $2.5bn (1.5bn) on building the world's largest solar energy project.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2722683c/mf.gif' border='0'/><br/>.....

Fiscal cliff deal pushes FTSE 100 above 6,000
London's FTSE 100 rose to an above 6,000 for the first time in seventeen months as stock markets around the world rose strongly on news that the US had made a deal to avert the 'fiscal cliff'.<img width='1' height='1' src='http://telegraph.feedspo.....

Fiscal cliff: US must do more, says IMF
The International Monetary Fund has said that US actions to avoid the fiscal cliff did not go far enough to address the country's long-term fiscal deficit and debt problems.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Trio of blue-chips miss out on rally
The wider FTSE 100 surged above 6,000 for the first time since July 2011<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27223a49/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/.....

Emirates set to become second largest airline this year
Emirates, the ambitious Dubai carrier, will move within touching distance of becoming the world's biggest airline this year, research suggests.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27223a4c/mf.gif' bord.....

Chris Christie and Republicans rage against John Boehner over Hurricane Sandy relief
The Republican party was in disarray after a major revolt over the compromise to avert the "fiscal cliff" and fury over the leadership's decision to delay relief for victims of Hurricane Sandy.<img width='1' height='1' src='http://telegraph.feedsp.....

Portugal warns EU-IMF troika to back off on austerity demands
Portugal's president has ordered a legal inquiry into the country's austerity policies and threatened a showdown with creditors over the draconian terms of its EU-IMF bail-out.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Questor share tip: Lamprell heading in right direction but it's a long road to recovery
Lamprell is making progress but there is a long way still to go on the road to recovery. Questor says hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2721d812/mf.gif' border='0'/><br/><br/><.....

My 2012 stock tips are up 15pc. Here are my shares for 2013
Last year is generally considered to have been bad for the economy, what with a double-dip recession, but stock markets tell a very different tale about 2012 and it's against this backdrop that my stock selections for 2013 are now due.<img width='.....

Oil-rig maker Lamprell leaps 20pc on support from lenders
Shares in troubled oil-rig maker Lamprell jumped 20pc on Wednesday after it announced that its lenders had agreed to waive key banking covenants and that it had won a $40m North Sea contract.<img width='1' height='1' src='http://telegraph.feedspor.....

John Boehner faces Republican backlash over fiscal cliff and Hurricane Sandy
The Republican party was in disarray after a major revolt over the compromise to avert the "fiscal cliff" and fury over the leadership's decision to delay relief for victims of Hurricane Sandy.<img width='1' height='1' src='http://telegraph.feedsp.....

Defence companies bid for 1.5bn military air contract
Defence companies competing for a 1.5bn contract to replace Britain's military air traffic infrastructure will submit proposals over the next few days.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27216828/mf.g.....

Nestle wins trademark battle over KitKat bar
Ruling stops rival companies from producing four-fingered bars.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27216829/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1515401.....

UK manufacturing jumps to 15-month high
British manufacturing grew unexpectedly in December at the fastest pace in 15 months, boosting hopes of a better 2013 for the sector.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27216574/mf.gif' border='0'/>.....

UK manufacturing jumps to 15-month high
British manufacturing grew unexpectedly in December at the fastest pace in 15 months, boosting hopes of a better 2013 for the sector.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/271e1295/mf.gif' border='0'/>.....

International Mining and Infrastructure Corporation confirms bid for Afferro Mining
International Mining and Infrastructure Corporation has confirmed it has submitted a takeover approach for Afferro Mining.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27216575/mf.gif' border='0'/>.....

'Fiscal cliff' deal drives global market rally: as it happened
London's benchmark FTSE 100 share index breaks through the 6,000 barrier for the first time in almost 18 months as the US Congress backs legislation to stop a recession-threatening "fiscal cliff" of tax increases and spending cuts.<img width='1' h.....

'Fiscal cliff' deal drives global market rally: live
London's benchmark FTSE 100 share index breaks through the 6,000 barrier for the first time in almost 18 months as the US Congress backs legislation to stop a recession-threatening "fiscal cliff" of tax increases and spending cuts.<img width='1' h.....

John Lewis sales rise over Christmas
John Lewis has reported a sharp rise in like-for-like sales during December, providing the first sign that the high street may have enjoyed a fruitful Christmas period.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Many investors are gripped by a 'flight to cash' mentality
The apparent rush to make the retail investment landscape less risky, driven by a creeping anti-equity culture, seems to be creating an example of the law of unintended consequences.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Londoner wins 1m premium bond jackpot
A Londoner who bought a premium bond in 1998 has started the New Year 1m better off after winning the National Savings & Investments' January jackpot.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2720dc58/m.....

Investors hoping for 'January effect' in 2013
Investors hope for 'January effect' as global markets rally.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/272081e9/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1515401559.....

House prices edge up in November - Land Registry
House prices edged up in November with London recording the strongest year-on-year house price increase, according to the Land Registry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/272081eb/mf.gif' border='0'/.....

'Fiscal cliff' deal reached: live
London's benchmark FTSE 100 share index breaks through the 6,000 barrier for the first time in almost 18 months as the US Congress backs legislation to stop a recession-threatening "fiscal cliff" of tax increases and spending cuts.<img width='1' h.....

Nationwide offers 95pc mortgage to home movers
Nationwide extends "Save to Buy" mortgage scheme to home movers with small amounts of equity.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/271f52eb/mf.gif' border='0'/><br/><br/><a href="http:.....