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Monday 14 January 2013

UK Financial News on 2013-01-14

Goldman Sachs tops US banking lobby rankings
Wall Street bank spent more than any other single investment bank lobbying the US government in the year to last October.....

Optimism grows over prospect of equities revival
Appetite for higher yields is creating a sustained move towards risk for the first time since 2008.....

UK business plunges 90% at Capital International
US fund manager had enjoyed rapid growth in the UK institutional market in the late 1990s and early 2000s.....

City stars join Ita Unibancos UK board
Robert Pickering and Gay Huey Evans are named non-executives at the London operations of the Brazilian bank.....

JP Morgan named as last yearmost profitable investment bank
Consultancy Tricumen's estimated figure for JP Morgan was 20% more than its closest rival Citigroup.....

Europe hit hardest by slump in global equities trading
New figures paint a grim picture for equities trading across the board during 2012, when continued economic and regulatory uncertainty saw investors flee equities markets.....

Credit Suisse woos Balarkas back with consultancy role
Electronic trading pioneer Richard Balarkas is returning to Credit Suisse as a consultant five years after he left the Swiss bank.....

Natural resources M&A head to exit Deutsche
Nigel Robinson is leaving after five years, according to two sources familiar with the situation.....

RK Capital grows profits to 11.3m
Commodities-focused hedge fund founded by Tory donor Michael Farmer has a bumper year.....

HMV chain to appoint administrator
Troubled music and DVD retailer HMV announces that it will appoint Deloitte as administrator, putting around 4,350 jobs in jeopardy......

New workers hit by pension plans
Plans for a "simple" flat-rate state pension have been unveiled, but many of those entering the workforce now will be worse off than under current rules......

Jaguar Land Rover to add 800 jobs
Carmaker Jaguar Land Rover says it is to create 800 new jobs at its plant in Solihull as it announces record sales for 2012......

City sackings 'at five-year high'
Dismissals and suspensions for disciplinary reasons in the UK financial services sector hit a five-year high in 2012, according to data from the City regulator......

Apple hit by iPhone 5 order fears
Shares in technology giant Apple fall 3.5% after reports suggesting orders for its iPhone 5 have been lower than expected......

Obama takes stand on debt fight
President Obama says the US is not "a deadbeat nation", as he warns Republicans not to play politics over the soon-to-expire federal borrowing limit......

Record year for Heathrow airport
Heathrow says it handled 70 million passengers in 2012, the highest number on record, as the crowded airport saw bigger and fuller planes......

Eurozone output contracts again
Output from eurozone factories fell by 0.3% in November, according to the latest official figures from EU body Eurostat......

UK urged to ban lead fuel exports
Environmental groups are urging the UK government to ban a chemicals company from exporting a lead fuel additive that is responsible for long-term damage to human health......

German truck maker MAN cuts shifts
German truck maker MAN cuts workers' hours and pay, as it feels the effects of the eurozone debt crisis......

EU criticised over green projects
An audit uncovers waste in EU-funded energy efficiency projects, saying they need better monitoring......

Volkswagen sales hit record high
Volkswagen says group sales hit a record high last year despite slowing sales in Western Europe......

UPS drops 5.2bn-euro bid for TNT
Package delivery firm UPS pulls out of its 5.2bn-euro bid for Dutch rival TNT Express after discovering EU competition authorities would probably block it......

North Sea 'jobs boom' forecast
A new forecast predicts a North Sea jobs 'boom' but also warns of a skills shortage in the oil and gas industry......

Disabled group urges benefit rethink
Disability campaigners call on the government to reconsider changes to the benefit due to replace the Disability Living Allowance from April......

Drinks merger decision postponed
The Office of Fair Trading has postponed a decision on the proposed merger of soft drink firms AG Barr and Britvic......

Singapore steps up property curbs
Singapore has moved to curb its red-hot property market, hitting the share prices of its major property developers......

State pension age in new reviews
The state pension age will be reviewed every five years, the pensions minister Steve Webb has said......

Indian inflation at 11-month low
Indian inflation slowed last month, boosting hopes of an interest rate cut when the central bank meets later this month......

HTC launches 'Burmese' phones
Taiwanese smartphone company HTC is the latest to try and tap into the underdeveloped telecommunications market in Burma......

Hyundai and Kia combine design
Kia's design boss Peter Schreyer has been named as the new head designer for the wider Hyundai Motor Group......

Nike deal nets McIlroy millions
Rory McIlroy is unveiled as Nike's new brand ambassador in Abu Dhabi, making him one of the highest paid sports stars in the world......

Brazil indigenous delay eviction
Police in Rio de Janeiro pull out from an area next to the Maracana stadium from where an indigenous community is expected to be evicted......

VIDEO: Lagarde: Eurozone economy improving
The head of the International Monetary Fund, Christine Lagarde has told the BBC that Greece has to keep making a "massive effort" in collecting revenue, but that the eurozone should see growth in 2013......

VIDEO: Jaguar Land Rover to create 800 jobs
Jaguar Land Rover has announced the creation of 800 new production jobs at its Solihull plant......

VIDEO: Is your money safe with credit unions?
Credit unions have been widely viewed as an alternative to your high street bank for loans or savings accounts......

VIDEO: Mr Selfridge's legacy celebrated
This month Selfridge's department store on Oxford Street revives some of its founder's early ideas to celebrate his legacy......

VIDEO: New state pension 'to be simpler'
A new flat-rate state pension likely to start in April 2017 will be simpler than the current system of means-tested top-ups, the government has said......

AUDIO: Man 'ashamed' to sleep in van
A man who cannot afford to heat his home told BBC Radio 5 live's Stephen Nolan he was sleeping in his company van......

VIDEO: GM pins hopes on new Corvette
The North American International Auto Show opens in Detroit USA this week, with much focus on re-invigorating the US luxury car market......

AUDIO: Wind farm contracts 'unbelievably generous'
Families face higher energy bills because of the government's "shocking" blunders when it awarded new contracts for offshore wind farms, Margaret Hodge warns......

State pension: The overhaul and you
How an overhaul of state pensions could affect you.....

The great London airport debate
Does the South East really need to make more room for planes?.....

New Corvette to drive GM revival
High hopes that 'halo car' will drive Chevy sales.....

Making women safe at work in India
Making women safe at work in India.....

Booming business at an Indiana gun show
Mark Mardell sees US gun owners stocking up.....

Cheery carmakers flock to Detroit
US carmakers cheer, but city suffers.....

U.S. Day Ahead: Facebook's big reveal
Jan. 14 - Described as a 'mystery' event, Facebook hosts its first major news conference at its headquarters in Menlo Park, California, since its troubled IPO offering in May......

Nissan's Ghosn: U.S. car sales could top 15 mln in 2013
Jan. 14 - Nissan Motor Co. CEO Carlos Ghosn says the U.S. car market should expand this year, but is looking for European sales to contract another 3%......

Northern Ireland pays price of unrest
Businesses in Belfast are counting the cost of a wave of riots they fear could undermine a fledgling tourist boom and scare foreign investors away from a city desperate to shake off its reputation for violence. Matt Cowan reports from Northern Irelan.....

GM's Reuss rolls out car show darling, the Chevy Corvette
Jan. 14 - Mark Reuss, president of General Motors' North American operations, discusses the company's new Corvette, credit rating and outlook once the U.S. Treasury exits its 26% stake in the automaker......

Northern Ireland minister says violence is isolated
Jan.14 - As businesses in Belfast count the cost of a wave of riots Matt Cowan talks to a Northern Ireland Minister about the economic cost of the violence......

Daily Digit: Apple's stock 30% off peak
Jan. 14 - Reports of weak iPhone demand have put additional pressure on shares of Apple, which are down almost 30 percent from their peak. Bobbi Rebell reports......

Techquity: Apple investors vs. analysts, Facebook's friend
Jan 14 - Investors sell Apple while analysts see upside; Facebook gets another upgrade......

Obama: Take politics out of debate on guns, debt
Jan. 14 - U.S. President Barack Obama called on members of Congress to put aside politics when it comes to guns and debt. Deborah Lutterbeck reports......

Trading at Noon: Apple slips to $503; spotlight on GM
Jan 14 - Apple cuts orders for iPhone 5 parts on weak demand and a look at GM as we drive you through the auto show......

Breakingviews: Flu off the handle
Jan 14 - The U.S. influenza outbreak has turned into a pandemic, raising questions about whether the government spends enough on the problem compared to other threats like terrorism. Breakingviews columnists talk about Uncle Sam's risk management......

Obama signals no compromise on debt ceiling
Jan. 14 - U.S. President Barack Obama says Congress must raise the debt ceiling to honor its debts. Rough Cut (no reporter narration)......

Ford debuts Lincoln MKC concept car
Ford CEO Alan Mulally discusses the new concept car being introduced at the Detroit Auto Show, the company's push to get into luxury market and its outlook for overseas expansion.....

UK tax avoidance row spreads to banks
Jan. 14 - Investment bank, Goldman Sachs, is said to be putting off paying bonuses to UK staff until the country's tax comes down from 50% to 45% in April, while aggressive tax avoidance is 2013's hot topic for governments. Joanne Nicholson reports.....

Europe Day Ahead: CPI to drop clues about BoE policy
Jan. 14 - A look at Tuesdays key events including the latest UK inflation data, German GDP & trading updates from Burberry and H&M......

"Active" food packaging cuts waste, say researchers
Jan. 14 - Last week's report by a British based institute suggesting that up to half of all food produced in the world is wasted may be a wake-up call to manufacturers across the globe. Food technicians in northern Spain are developing three types of.....

3XSQ: Weak iPhone 5 demand spurs cut in component orders
Jan 14 - Apple has asked Japan Display, Sharp and South Korea's LG Display to roughly halve supplies of LCD panels and cut other part orders......

Comeback buzz at Detroit Auto Show
Jan 14 - Glamour and optimism expected to dominate when the North American International Auto Show kicks off on Monday. Sharon Reich reports......

Reuters Breakingviews
global commentary unit Breakingviews......

Japan's leader on a roll
Jan. 14 - A brand-new look for Japans prime minister. Shinzo Abe rolls out a bold PR campaign to show he is in control of both domestic and foreign policy--and the markets are listening. Tara Joseph reports......

The new face of bling in China -- bikes
Jan. 14 - Ultra high-end models are challenging the bicycle's working-class image in China, and giving posh cars a run for their money as the latest status symbol for the country's nouveau riche......

Reuters Today: Currency war heats up
Jan. 14 - The yen sinks to a 2.5-year low versus the dollar as Japan's new administration talks tough on inflation targeting......

A millionaire's Detroit auto show shopping list
It's window shopping at its best, unless you have a flush bank account. Some of the world's most luxurious and exotic vehicles, from Rolls Royce to Falcon F7, were featured at a kick off event to the North American International Auto show. Here's a g.....

Breakingviews: Detroit's hell and hope on one street corner
Detroit is hosting the glitzy North American International Auto Show while trying to fend off a massive municipal bankruptcy. One Motor City street corner epitomizes the good, the bad and the ugly......

U.S. Morning Call: Apple slices orders for iPhone parts
Jan 14 - Apple has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand, the Nikkei reported......

Market Pulse: The end of the affair - EU breaks up TNT - UPS
Jan. 14 - Faced with a ruling against the merger UPS has walked away from the deal, causing TNT to lose half its value on the stockmarket......

HMV to call in administrators: the announcement
HMV, the UK'S last major high-street music retailer, will go into administration as early as Tuesday, putting 4,350 jobs at risk. Here is the statement from Deloitte.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

HMV to call in administrators within hours
HMV, the UK'S last major high-street music retailer, will go into administration as early as Tuesday, putting 4,350 jobs at risk.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2784a43a/mf.gif' border='0'/><.....

HMV expected to call in administrators within hours
HMV, the UK'S last major high-street music retailer, is expected to go into administration as early as Tuesday, putting 4,350 jobs at risk.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27847e9f/mf.gif' border='.....

Dell shares soar on reports it could go private
Rumours third-largest PC maker in talks with private equity firms.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27847d17/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1522.....

Brussels must explain why EU failed to deliver UPS-TNT deal
What a triumph for those Brussels delivery experts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27847d18/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/152264912298/u/3/f/.....

Nat Rothschild boosts EGM firepower after 16m spend on Bumi shares
Financier Nat Rothschild has spent more than 16m buying shares in Bumi, boosting his firepower in the bitter struggle for control of the bombed-out Indonesian coal mining group.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Barack Obama issues US debt ceiling warning to Republicans
President Barack Obama issues a strongly worded warning to Republicans over the US debt ceiling, telling them it would be "absurd" not to raise it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/278475d3/mf.gif' .....

Vodka made on shoestring world's "most loved" brand
A vodka entrepreneur who was turned away by almost every bank and venture capital firm in the UK just three years ago is celebrating seeing his drink named one of the world's best vodkas.<img width='1' height='1' src='http://telegraph.feedsportal......

British banks admit poor lending decisions, says Lord Green
Britain's largest banks privately admit they are in a "downward spiral" of poor lending decisions and have a "computer says no" attitude to small businesses, according to the former chairman of HSBC.<img width='1' height='1' src='http://telegraph......

When it comes to Europe, David Cameron represents the silent majority
Remember "Business for Sterling"?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/278406a7/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/152265160376/u/3/f/568300/c/32726/s/2.....

Afferro shares fall as takeover talks continue
Traders had hoped the company would reveal an offer had been made.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/278406a8/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1522.....

Marc Bolland 'has months' to turn M&S around, warns major shareholder
Marks & Spencer faces warnings that chief Marc Bolland has six to nine months to prove he can produce a turnaround.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27847d1a/mf.gif' border='0'/>.....

Bolland 'has months' to turn M&S around, warns major shareholder
Marks & Spencer is attempting to head off a shareholder revolt after warnings that chief executive Marc Bolland has six to nine months to prove he can produce a turnaround.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Apple slashes orders for iPhone 5 parts
Apple has slashed orders on parts for the iPhone 5 in what could be a sign of pressure from Samsung and other rivals.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27840390/mf.gif' border='0'/>.....

Barack Obama warns of 'haywire' markets unless debt ceiling is raised
Barack Obama has laid out a nightmarish vision of a US debt default, warning his Republican opponents of dire consequences if Congress failed to raise the debt ceiling.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Jeremy Warner: Britain and the EU have much to lose from a 'Brexit'
Britain faces a "general loss of influence" if it leaves the European Union, and attempting to re-negotiate our relationship will not go down well in many continental capitals, according to the Telegraph's Assistant Editor.<img width='1' height='1.....

UK recovery on track, OECD data show
Britain's recovery is on track, with the economy in better shape than any of the world's other leading nations bar the US, according to the Organisation for Economic Co-operation & Development.<img width='1' height='1' src='http://telegraph.fe.....

Greene King pubs celebrate record Christmas
Diners flocked into Greene King pubs and restaurants over the festive season, eating and drinking more to provide the group with record Christmas and new year trade.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Iberdrola shelves Scottish Power stake sale
Spanish power giant Iberdrola has shelved a plan to sell off part of its Scottish Power division.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/278364ea/mf.gif' border='0'/><br/><br/><a href="h.....

Flat-rate state pension will be 'simpler'
Pensions expert Tom McPhail says the current system sees some people benefit more than others and the new plan will be 'fairer' for all.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/278364ee/mf.gif' border='0'/.....

Finance staff sackings at five-year high
The number of staff being sacked or suspended at financial institutions for reasons such as wrongdoing has reached a five-year high, figures have revealed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27826fdf/.....

Bank's new powers could hit first time buyers
Banks are facing an unprecedented level of intrusion under new powers that will allow the Bank of England to crack down on specific activities, from mortgage lending for first-time buyers to off-balance sheet securitisations.<img width='1' height=.....

Battersea Power Station flats snapped up
Investors have rushed in to reserve luxury homes planned for the revamped Battersea Power Station, with 600 of the 800 properties already claimed after just five days on the market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

Ex-Credit Suisse exec's extradition approved
A former Credit Suisse executive can be extradited to the US to face fraud charges, a court ruled on Monday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27826755/mf.gif' border='0'/><br/><br/>&l.....

Pension cuts for private sector, but public sector is spared
Private-sector workers will see their occupational pensions reduced because of the new flat-rate state pension but public sector workers will escape similar cuts, ministers have admitted.<img width='1' height='1' src='http://telegraph.feedsportal......