Search This Blog

Saturday 26 January 2013

UK Financial News on 2013-01-26

Banks face 'decisive' two years
The incoming governor of the Bank of England says the next two years will be "decisive" for bank reform and warns central banks alone cannot eliminate economic risks......

Price of petrol 'may go up 4p'
Fuel campaigners are warning that petrol prices might jump 4p per litre "in coming days" as petrol retailers blame wholesalers for increases......

Easyjet chairman to stand down
Low-frills airline Easyjet announces that its chairman, Sir Mike Rake, will stand down this summer......

Apple loses most valuable crown
Another fall in Apple's shares means the company loses the title as the world's most valuable publicly-traded company......

UK economy shrank at end of 2012
The UK economy shrank by 0.3% in the last three months of 2012, further fuelling fears that the economy could re-enter recession......

Scots cities top house price list
House prices rose faster in Aberdeen and Inverness than anywhere else in the UK over the past decade, a survey suggests......

'Low awareness' of energy bill help
Fewer than half of UK households eligible for help with their energy bills are aware that they qualify for assistance, a survey suggests......

Banks to pay back ECB loans early
Some European banks that received billions in cheap loans to keep them afloat at the peak of the eurozone debt crisis are to repay them early, the ECB says......

Bank customers 'lacking choice'
UK bank customers still have relatively little choice of personal current accounts and significant changes are needed, a regulator says......

London Market Report
The FTSE continues its recent upward march, ending the week 2% higher......

Wall Street up on new confidence
Wall Street continues to break recent records on the back of strong economic data and better profits news from corporate America......

Pentagon laying off 46,000 staff
The US defence department says it has begun laying off most of its 46,000 temporary employees, as automatic defence budget cuts loom in March......

VIDEO: Cyber espionage and sabotage 'on the rise'
Businesses and governments are increasingly aware of the growing threat that cyber terrorism poses, according to Eugene Kaspersky......

VIDEO: Making the most of Davos with Imax
Imax chief executive Rich Gelfond, a seasoned veteran of Davos explains how to make the most of the event.....

VIDEO: Goldman Sachs boss 'optimistic'
The man in charge of Goldman Sachs, Lloyd Blankfein, has said that he believes the worst of the financial crisis may be over.....

VIDEO: Social media 'making world better'
Former Facebook director Peter Thiel has told the BBC that he believes social media makes the world "a better place".....

VIDEO: Ukraine and Shell sign shale gas deal
Ukraine has signed a major shale gas deal with Royal Dutch Shell......

NBC boss supports ticket touting
Jeff Shell, chairman of NBC Universal International, encourages future Olympic Games to allow tickets to be resold at above face prices......

Last Belfast linen factory shuts
The last working linen factory in Belfast - a city once famous across the world for producing and exporting the textile - is set to close......

New laws to crack down on bailiffs
New laws to tackle aggressive bailiffs will be introduced next year in England and Wales, the government announces......

US new-home sales best since 2009
US sales of newly-built homes last year were the best since 2009, new data shows, despite the market slowing in December......

Clegg: Capital spending cut wrong
The coalition made a mistake in cutting back capital spending when it came into office, Nick Clegg says, as the UK's latest GDP figures are awaited......

One in four new phones a Samsung
Samsung accounted for one in four of all mobile phones shipped worldwide last year, as its shipments grew by nearly 20%, according to research......

Oldest bank in risky trades probe
Shareholders of the world's oldest bank, Italy's Banca Monte dei Paschi di Siena, approve a plan needed to get a state bailout amid revelations that it concealed loss-making risky trades......

Anglo American in platinum slump
Mining group Anglo American - which was hit by strikes at mines in South Africa - reports a drop in fourth quarter production of platinum and iron ore......

VIDEO: Businessmen live the poor life in Davos
The amount of rich and influential leaders in Davos means that it is a good place for charities to get their voice heard, and a number are using innovative techniques to bring home their message......

VIDEO: 'Two decisive years for financial reform'
The next governor of the Bank of England has said that the next two years will be "decisive" for financial reform......

AUDIO: Secrecy over UK's 1m banknotes
Carefully guarded in the Bank of England's vaults are a small number of mysterious banknotes that will probably never see the light of day, but what are they for?.....

VIDEO: What is the Green Deal scheme?
The government is launching a new energy efficiency scheme, called the Green Deal......

VIDEO: Your Money: Travel compensation rights
In this week's Your Money, Declan Curry asks what compensation travellers may be entitled to if their journeys are disrupted by severe weather conditions, and why friends are joining together to buy their first homes......

VIDEO: 'Fragile eurozone prone to political crisis'
The eurozone remains in a "fragile" economic situation and is prone to political crisis, according to the IMF......

VIDEO: 'Samsung has broader product range'
Computer Weekly's Editor-in-Chief, Bryan Glick, explains Samsung's increasing market share is down to its broad range of products, including budget mobile phones......

VIDEO: Oldest bank probed for risky trades
Shareholders of the world's oldest bank have approved a plan needed to get a state bailout amid revelations that it concealed loss-making risky trades......

Davos Man eyes investment opportunities
Where should you invest your spare billions?.....

Selling the Olympics to the Swiss
Selling the Olympics to Swiss mountain voters.....

Taking your credit card to the limit?
What notice should you get if your credit card limit is lowered?.....

Britain's 1m and 100m banknotes
Why does the Bank of England have 1m notes?.....

Healthy people create economic health
Why making people fitter gives economies a lift.....

In Amenas siege: Is Algeria's economy under threat?
Will Algeria's economy recover from hostage crisis?.....

Davos 2013: Much still to do to revive Europe - Studzinski
Jan. 26 - Blackstone Group's John Studzinski says that while fears of a Euro collapse may have been allayed for now, there's still a search on for regeneration and growth in the continent......

Davos 2013: Irish PM says UK exit would be bad for EU
Jan. 26 - As Ireland takes the EU presidency, Prime Minister Enda Kenny watches David Cameron's plan for a referendum on Britain's place in the single market with concern......

Davos 2013: Tech part of the jobless solution iGate CEO
Jan. 26 - iGate CEO Phaneesh Murthy says there are geographical issues but overall the tech sector is part of the solution to the global unemployment problem......

Bulls unchained! Apple loses crown
Jan 25 - Summary of business headlines: The S&P 500 closed above 1,500 for the first time in more than five years as quarterly results from Procter & Gamble soothe worries; Apple loses spot as world's most valuable company. Conway G. Gittens reports......

Why the smart money is shifting to stocks
Jan 25 - Hedge fund managers attending the 2013 GAIM conference in Boca Raton, Florida explain why after years of favoring fixed income, they are ready to put their money back into U.S. equities......

U.S. Week Ahead: Boeing results could show jumbo problems
Jan. 25 - Investors want to know how much the grounding of Boeing's entire Dreamliner fleet will cost the company when it reports results on Wednesday......

MuniLand: Illinois GO bonds could offer high yields -Serbe
Jan 25 - Lebenthal's President of Municipal Asset Management Greg Serbe says that the negative headlines out of Illinois could translate to attractive yields for investors with an appetite for risk......

Techquity: Smartphone woes, more praise for Amazon
Jan. 25 - Smartphone issues hit Samsung after hurting Apple, plus analysts raise price targets on Amazon......

Trading at Noon: S&P 500 reaching for the stars
Jan. 25 - U.S. stocks are rising today boosted by sturdy corporate earnings, with the S&P 500 poised for its longest winning streak in 8 years......

Davos: EU not complacent about recovery
Jan. 25 - European Central Bank President Mario Draghi told an audience at the WEF in Davos he expects the euro zone to recover in the second half of 2013. While EU leaders welcome calmer markets, they warn the recovery won't be without obstacles. Jo.....

Friday Round Up: Best of Davos
Best from the WEF in Davos, Switzerland on the third day of the Forum. - January 25, 2013.....

Breakingviews: Ackman vs Icahn
Jan 25 - Antony Currie and Breakingviews columnists discuss why the two shareholder activists have reignited a 10-year-old spat and how the showdown is emblematic of each mogul's investment style......

Mafia money is Italy election issue
Jan. 25 - Italy is fighting one of its darkest problems as it heads towards February elections - the hold of the mafia over society and business. With banks tightening credit, organised crime has poured dirty money into the legitimate economy where i.....

Europe Week Ahead: Earnings bonanza, Spanish Q4 GDP, PMIs
Jan. 25 - Brace for a big week of European corporate earnings, manufacturing PMI data, bond auctions plus, Q4 GDP data from recession-hit Spain......

3XSQ: Procter & Gamble second-quarter profit 'crests'
Jan 25 - Procter & Gamble's quarterly profit soared past expectations as the world's largest household products maker used higher prices and new products to reignite growth in sluggish markets......

DAVOS 2013: Davos in 60 seconds
Jan. 25 - A wrap up of all Fridays action at the World Economic Forum in Davos crammed into 60 secs......

Davos 2013: Moshi Monsters Set For Wild Growth
Jan. 25 - The man behind Moshi Monsters, Mind Candy CEO Michael Acton-Smith, discusses his plans to become the worlds biggest digital entertainment company on the sidelines of the WEF in Davos......

DAVOS 2013: Infrastructure key to Africa success
Jan. 25 - Nigeria's central bank governor Lamindo Sansusi, tells Davos Today that investment in infrastructure is crucial to Africa's future economic success......

Davos 2013: U.S. business frets over Obama agenda
Jan. 25 - Thomas Donahue, President & CEO of the U.S. Chamber of Commerce tells Davos Today that President Obama has a strong agenda for America, but it doesn't include enough attention to jobs and growth......

Dutchman brings glow to night-driving
'Glowing lanes' on highways could spell the end of costly street lighting, according to a Dutch designer. Daan Roosengaarde's 'Smart Highway' involves photoluminescent paint markings on roads that are charged in sunlight and glow at night to denote l.....

Davos: euro zone stronger entering 2013
Jan 25 - The euro zone is looking stronger entering 2013, thanks to the reforms currently underway. That's according to Klaus Regling, head of the euro zone's European Stability Mechanism (ESM), said at at the World Economic Forum in Davos. (ROUGH CU.....

DAVOS 2013: Ban ki Moon: My pain at Syrian deaths
Jan. 25 - The UN Secretary general tells Davos Today how concerned he is about the civil war in Syria. Many more will die if the violence does not stop now, he says......

Best of Davos Today: Competition key to recovery
World leaders and the business elite talk economic growth and job creation in highlights of Davos Today. (Friday, Jan 25).....

British economy headed towards 'triple dip' recession
Jan. 25 - Britain's economy shrinks more than expected in late 2012. We go through the numbers with Joe Grice, Chief Economist at the ONS......

DAVOS 2013: EFSF: A real mood change in Europe
Jan. 25 - European bail out fund chief Klaus Regling says there's been a improvement in sentiment in Europe, thanks to restructuring and debt reduction......

FSA under pressure to 'water down' mis-selling findings
Factions within the Treasury want the Financial Services Authority to "water down" the findings of a review of banks' mis-selling of complex financial products to small businesses.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3.....

British creative agency wins rights to Simenon works
The works of the Maigret creator are to be published in English for the first time.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee8995/mf.gif' border='0'/><br/><br/><a href="http://da.feeds.....

Rothschild reports Bumi hedge funds to Panel
Nat Rothschild has reported a pair of investors in Bumi to the Takeover Panel amid concerns the two are linked to the Bakrie family, in the latest twist in the high-stakes battle for control of the FTSE mining company.<img width='1' height='1' src.....

FSA chairman calls for review of Bank inflation target
The chairman of the Financial Services Authority is to open the door to a major overhaul of the way the Bank of England backs the economy, suggesting that a simple inflation target may not be sufficient to promote growth.<img width='1' height='1' .....

Rothschild's favourite Wal King eyes Bumi chairmanship
Alistair Osborne talks to prospective Bumi chairman Wal King on the challenges of restoring the company to credibility.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee8999/mf.gif' border='0'/><br/>&l.....

Carney to put growth top of list
The new Governor of the Bank of England has signalled that he will put growth at the heart of his approach to the job and is willing to see higher inflation for longer in order to support the economy.<img width='1' height='1' src='http://telegraph.....

Carney's words signal step change at Bank
One duty of the journalist at Davos is to judge the mood, in the hope that this provides intelligence on the year ahead.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee84ee/mf.gif' border='0'/><br/>&.....

Government must act boldly to revive growth
Last week ended with some pretty bleak news for the UK economy. "Output shrinks yet again," the broadcast news bulletins boomed. "Britain now faces the dreaded triple-dip recession."<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Australia's retail revolution has lessons for UK
First thing in the morning on November 20 2007, Richard Goyder, chief executive of Wesfarmers, and I walked through the front door of the vast Coles Headquarters in Melbourne, Australia, known then as "Battleship Galactica".<img width='1' height='.....

The five things you need to know about Davos 2013
After a week in the Alps attending the World Economic Forum it is tempting to think - so, what was all that about?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee84f1/mf.gif' border='0'/><br/><br/.....

Cumbrians to vote on radioactive waste dump
Britain's nuclear industry faces a crucial test this week as Cumbrian councils vote on the next stage of plans for a 12bn radioactive waste dump amid mounting local opposition.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Will Sir Stuart Rose transform Ocado's fortunes?
Ocado has yet to turn a profit, but the shock appointment of the former M&S boss as chairman may change that, writes Graham Ruddick.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee39ee/mf.gif' border='0'/.....

easyJet chair to stand down ahead of entry to FTSE 100
Sir Michael Rake is stepping down as chairman of easyJet to ward off a potential corporate governance row as the low-cost carrier hovers close to the FTSE 100.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ee3.....

Think Tank: Find an 'Elvis' to help share the company's vision
Peers have more influence than bosses, says Octavius Black, so find an employee who can be a passionate voicebox of management.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27edcd3b/mf.gif' border='0'/><b.....

Davos 2013: The icy economic chill begins to thaw
New signs of optimism and confidence abound at the World Economic Forum, writes Louise Armitstead<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27edca24/mf.gif' border='0'/><br/><br/><a href="h.....

Profit warnings hit post-Lehman high
British companies issued the most profit warnings since the height of the financial crisis last year, as zero growth at home and mounting risks abroad hit confidence and demand.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Chinese currency to loosen exchange rate: business chief
Beijing will loosen its currency's peg to the dollar "much sooner" than expected, the head of one of China's top private equity firms has predicted.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ecf13a/mf.gif'.....

Britain must 'simplify' visa system to boost growth
The boss of Tata Consulting Services, one of India's biggest companies, has urged the Government to reform Britain's immigration laws and close the skills gap to boost growth.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Davos 2013 - Britain's agenda will 'scare away business': Deripaska
Britain is chasing an agenda that will scare away business and needs a proper "development plan" to accompany its austerity push, according to Oleg Deripaska, the Russian metals tycoon.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Deripaska: Britain's agenda will 'scare away business'
Britain is chasing an agenda that will scare away business and needs a proper "development plan" to accompany its austerity push, according to Oleg Deripaska, the Russian metals tycoon.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Is it time to grasp the debt restructuring nettle?
Philip Aldrick asks whether there are quicker ways back to prosperity.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ebfc27/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Soros hits out at Osborne's austerity programme
Economies face a prolonged period of "go-stop" as the massive injections of liquidity to deal with the financial crisis are unwound, George Soros, the billionaire financier and philanthropist said at the World Economic Forum in Davos.<img width='1.....

Pensioners face a lifetime of paying off debts
One in five are in the red on the day they retire. We look at the options for Britain's indebted pensioners<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ea78db/mf.gif' border='0'/><br/><br/><.....

Families face 75pc cut in mortgage borrowing limit
Parents penalised as mortgage lenders take the cost of bringing up children into account.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27ea78dc/mf.gif' border='0'/><br/><br/><a href="http://da.....

Boris heaps pressure on Osborne to abandon his austerity measures
Boris Johnson yesterday heaped pressure on George Osborne to abandon his austerity programme, saying it was time to ditch the "hair shirt" agenda.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/27e8b128/mf.gif' b.....