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Sunday 17 February 2013

UK Financial News on 2013-02-17

G20 vows to tackle tax avoidance
G20 finance ministers meeting in Moscow pledge to crack down on tax avoidance by multinationals, and vow to abstain from "currency wars"......

Morrisons buys 49 Blockbuster stores
Morrisons is buying 49 stores from the failed Blockbuster film rental chain to add to the supermarket's new chain of convenience stores, it says......

Meat row: Store boss blames councils
Councils looking for cheap food contracts are to blame for driving down meat quality, the boss of Iceland says, amid the continuing horsemeat scandal......

Germany probes Amazon warehouses
Germany demands explanations from the online retailer Amazon after a documentary showed seasonal workers being harassed by security guards......

Lib Dems consider wider mansion tax
Owners of holiday homes and rented property could be drawn into paying an extended 2m mansion tax under plans being considered by the Lib Dems......

New oil discovery in Darwin field
A new oil field has been discovered in the North Sea by the Abu Dhabi National Energy Company (TAQA)......

UK braced for EU benefits 'battle'
The UK is facing a "big battle" in the EU institutions over rules governing access to benefits, Work and Pensions Secretary Iain Duncan Smith says......

Arsonists attack gold mine in Greece
Dozens of masked attackers raid a gold mine in the Halkidiki region in northern Greece, setting fire to machinery and vehicles, police say......

Foreign workers abducted in Nigeria
Seven foreign workers have been kidnapped by gunmen in northern Nigeria, in the biggest such incident in recent years......

Labour: 'Bedroom tax' is 'perverse'
The government's proposed change to housing benefit rules, dubbed the "bedroom tax", is "perverse", shadow minister Stephen Timms says......

VIDEO: UK and India eye stronger trade ties
The British prime minister is set to make a second visit to India, in a bid to forge stronger business relations between the two nations.....

VIDEO: Tricky task of tax for multinationals
G20 finance ministers meeting in Moscow have pledged to crack down on tax avoidance by multinational companies, but what might this mean in practice for firms operating in the UK?.....

VIDEO: Life for Indian workers in the Gulf
The BBC's Middle East Business Report programme met two of the 1.75 million Indians living in the United Arab Emirates to ask about their lives, and visited their families back home in India to find out how their money is being spent......

VIDEO: Church becomes home to new store
A village shop that is run from the aisles of a working church has opened in Berkshire......

VIDEO: Meat scandal fuels consumer concerns
The news that horsemeat was used as a substitute for beef in some products sold in the UK has made many shoppers reconsider where they buy their meat products from......

VIDEO: Bankruptcy: From riches to rags
The BBC's personal finance reporter Brian Milligan looks at how some people spend more than they earn......

VIDEO: UK tax system 'hideously complex'
G20 finance ministers meeting in Moscow have pledged to crack down on tax avoidance by multinational companies......

One couple's mission to find a better work/life balance
One couple's mission to find a better work/life balance.....

Lost in Thailand shakes up China's movie industry
The budget film that has taken China's cinemas by storm.....

Olympians head to the Job Centre
The Games are over, but what now for 2012 athletes?.....

Lagarde brushes off talk of 'currency wars'
Feb. 16 - International Monetary Fund Managing Director Christine Lagarde brushes off talk of 'currency wars'. Deborah Lutterbeck reports......

Horse meat found in goulash in Germany
Feb. 16 - A canned goods producer in Germany confirms traces of horse meat in beef goulash. Deborah Lutterbeck reports......

UK, France, Germany aim at tax-hopping multis
Feb. 16 - Britain, France and Germany, at the Group of 20 nations summit, unveil plans to crack down on international firms evading taxes. Jessica Gray reports......

No "currency war", big nations say
Feb. 16 - World leaders of the G20 nations declare there will be "no currency war", as day two of their summit in Moscow gets under way. Rough Cut (no reporter narration).....

Watchdog is urged to intervene in Bumi battle
The Takeover Panel is under pressure to make a potentially decisive intervention in the battle for control of Bumi ahead of Thursday's showdown meeting.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9bfc0/mf......

Centrica tries to draw fire from profits rise by stressing 1.1bn tax
The British Gas owner plans to take the unusual step of drawing attention to the 1.1bn it pays in tax as it prepares for a backlash over a likely double-digit rise in profits from its consumer business.<img width='1' height='1' src='http://telegra.....

Vodafone offers portable mobile-phone chargers to Tanzania's 'off-grid' users
The mobile phone giant is set to save its Tanzanian customers money with portable chargers powered by a bicycle dynamo or a solar panel, reports Katherine Rushton.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

Cameron set for questions on helicopter bribes claim
David Cameron is expected to be quizzed about bribery allegations linked to British-built helicopters and other issues including Vodafone's disputed $2.5bn (1.6bn) tax bill during a three-day visit to India to boost trade.<img width='1' height='1'.....

BAE and Vodafone partner for cyber-security market push
BAE Systems has joined forces with Vodafone to develop a new security business to help companies to strengthen their communications defences against cyber attacks and the hacker fraternity.<img width='1' height='1' src='http://telegraph.feedsporta.....

Fears over 'extortionate' US fines on British firms
Barclays, GSK and BP have all been hit with high penalties, leading to talk of bias, writes Richard Blackden<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9bf5a/mf.gif' border='0'/><br/><br/>&l.....

PPI-claims firm 'rang emergency lift number'
The boss of one of Britain's leading challenger banks has warned of the increasingly ridiculous steps that claims management companies are taking to find customers allegedly mis-sold financical products.<img width='1' height='1' src='http://telegr.....

Is the British IPO market set to rebound?
Distrust between fund managers and investors must be overcome, writes Helia Ebrahimi<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9bdbf/mf.gif' border='0'/><br/><br/><a href="http://da.feed.....

Commodities: Mixed messages from gold as lengthy bull run suffers a touch of jitters
An in-depth insight into what has been going on in the gold market - and what may follow - emerges in the form of the latest report from the World Gold Council (WGC), the industry body.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Brokers hope for more confidence, less consolidation
While Crest Nicholson's IPO last week raised hopes in London's stockbroking community that business may be starting to look up, the crisis at Seymour Pierce earlier this month was a reminder that consolidation among smaller firms is likely to continu.....

CVC revs up for Formula One float
Private equity firm CVC Capital Partners is planning to float Formula One on the Singapore stock exchange in October and is targeting a valuation of more than $10bn (6.45bn).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Ask John: My dream is to give everyone the same benefits, with all tax at 20pc
Straight-talking, common sense from the front line of management.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9bdc4/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/15836.....

Celebrating the end of the eurozone affair ignores the heart of the matter
'We are in the middle of the beginning of the end. The crisis has really hit its peak", former French economy minister and current IMF chief Christine Lagarde told a broadcaster when asked about the eurozone crisis. The only problem: that was in July.....

The inflation option looms larger, either by stealth or through design
Soon after the financial crisis began, a friend confidently proclaimed that the only way out of the mess that it had created would be inflation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9a963/mf.gif' bor.....

East Coast rail directors paid six figure salaries
A state-owned railway company that ran fewer than three-quarters of trains on time last month has paid eight directors salaries of 100,000 or above.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a94210/mf.gif'.....

Week ahead in business and economics: Feb 18-22
BAE Systems will provide an update to the market on the current outlook for the defence industry when it publishes full-year results for 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a938bb/mf.gif' borde.....

Cinven eyes 1bn float of Partnership Assurance
London's dried-up market for initial public offerings is expected to receive a major boost from a 1bn flotation of specialist insurer Partnership Assurance.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9323d.....

Crucial Cyprus election goes to runoff
Cyprus must face more political uncertainty as it teeters on the edge of bankruptcy after pro-bailout candidate Nicos Anastasiades failed to win an outright majority in Sunday's presidential election.<img width='1' height='1' src='http://telegraph.....

Morrisons accelerates convenience store openings
Supermarket to create up to 2,000 jobs as it grows convenience store offering.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a9323f/mf.gif' border='0'/><br/><br/><a href="http://da.feedsporta.....

Germany calls for sweeping EU-US free trade deal
German economy minister Philipp Roesler wants the European Union and the United States to reach a comprehensive transatlantic free trade agreement rather than settle for the limited deal some southern EU nations favour.<img width='1' height='1' sr.....

Morrisons eyes expansion in south as snaps up Blockbuster stores
The deal steps up plans to expand Morrisons' convenience business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a711d5/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1583.....

Vince Cable plays down 'wacky' tax proposals
Business Secretary Vince Cable said controversial Lib Dem tax proposals -such as a French-style levy on jewellery and paintings - were unlikely to go any further.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28.....

Cyprus in crucial vote as nation nears bankruptcy
Cypriots will determine their economic future on Sunday as they elect a president who will have to take responsibility for negotiating a financial rescue for the debt-laden island nation.<img width='1' height='1' src='http://telegraph.feedsportal......

Dashwood: Wagamama founder Alan Yau is cooking up a Hakkasan rival
Wagamama founder Alan Yau is cooking up a new restaurant venture.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a52ff8/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/15836.....

BP urged to keep up Gulf expansion
Leading investor calls for further growth in Gulf of Mexico as trial begins<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28a53d50/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.c.....