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Monday 18 February 2013

UK Financial News on 2013-02-18

Rothschild scion launches new UK merchant bank
New launch stirs memories of iconic banks that were subsumed after the City's 1986 Big Bang.....

LSE reconnects small-caps to its phone-broked market
The London Stock Exchange will today finish consulting with marketmakers on proposals to transfer nearly 200 stocks from its main electronic platform.....

Banking buzzwords in abundance
Catchphrases and jargon were conspicuous in fourth quarter bank results presentations.....

IMA moves to calm anger over FSA conflicts demand
The regulator has given firms until the end of this month to sign a blanket pledge that all conflicts of interest, known and in the future, are being managed effectively.....

The rise of no-touch trading at Barclays
The bank has set out plans to increase the percentage of no-touch trading volumes that pass through its electronic fixed-income trading platform Barx.....

Hedge funds gear up for bigger activist assault
Activist funds were some of last year's best performers.....

Pound falls against dollar and euro
Sterling continues to weaken against the dollar and the euro, with currency speculators betting the pound has further to fall......

Germany 'likely to avoid recession'
Germany will avoid recession and return to growth in the first quarter of 2013, the country's central bank says......

Cameron backs Westland helicopters
Prime Minister David Cameron says AgustaWestland is an "excellent" company and that bribery claims are a matter for its Italian owners......

Japan shares up on weaker yen hopes
Japanese shares rise after finance ministers of the G20 group of nations avoid singling out Japan for criticism over the recent yen weakness......

Heathrow airport has busiest year
Revenues up at Heathrow, but the UK's busiest airport is operating at close to capacity.....

Amazon fires German security firm
Online retailer Amazon ends the contract of a security firm used at one of its German warehouses following complaints about workers' conditions......

Retailers plan regular beef reports
UK food retailers have agreed to update ministers on DNA testing on processed beef every three months, Environment Secretary Owen Paterson says......

Iberia workers begin five-day strike
Workers at the Spanish airline Iberia have begun a five-day strike in protest at planned job cuts and salary reductions......

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......

Thai economic recovery picks up pace
Thailand's economic growth exceeds expectations in the last three months of 2012 as it continues to recover from the previous year's devastating floods......

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......

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"......

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......

VIDEO: Backstage at London Fashion Week
More than 5,000 fashion designers, bloggers, photographers, models and buyers are expected to attend the 80-plus shows at London Fashion Week......

VIDEO: Cameron backs 'brilliant' Westland
Prime Minister David Cameron says AgustaWestland is a "brilliant" company and that a bribery scandal is a matter for its owner, Italy's Finmeccanica......

VIDEO: Football India's 'fastest growing sport'
The Premier League's chief executive Richard Scudamore is in India with David Cameron, on what Downing Street says is the largest trade delegation taken on an overseas trip by a UK prime minister......

VIDEO: Food retailers set for meat talks
The environment secretary is set to meet food retailers and trade bodies later to establish what is being done to restore consumer confidence......

VIDEO: Horsemeat chain 'too complicated'
The managing director of retail chain Morrisons Convenience, Gordon Mowat, says the supply chain has been allowed to get too complicated......

VIDEO: BBC journalists strike over jobs
Many BBC journalists have gone on strike for 24 hours in a dispute over compulsory redundancies......

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: Cameron in India partnership pledge
David Cameron has said that he wants to build a special relationship with India, at the start of a three-day visit to the country.....

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

Do Man Utd really have 659m supporters?
Does Manchester United really have 659m followers?.....

How to make the best of a bad job
How to make low-skilled jobs more attractive.....

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

Chinese buy up Bordeaux's wines
How China's consumers are turning to Bordeaux.....

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

Debt-stricken Europe battles for BRICS
Feb.18 - David Camerons trade delegation to India is the largest ever taken abroad by a British Prime Minister. But he faces stiff competition in the battle for business as Europes debt-stricken states compete with one another to tap into one of the .....

Japan presents - the incredible shrinking building
Feb. 19 - A construction company in Japan has developed a method of tearing down a building without the noise, smell or dust caused by conventional demolition. It's a novel but effective approach to deconstruction in densely built cities. Rob Muir re.....

Airport clashes as Iberia staff strike
Feb.18 - Workers at the troubled Spanish airline Iberia storm Barajas airport in Madrid as they begin a five-day strike in protest at planned cuts to jobs and salaries. Hayley Platt reports......

Europe Day Ahead
Feb. 18 - A look ahead to Tuesdays key events including results from Danone and Deutsche Post, as well as the latest German ZEW index......

UK's Cath Kidston comes up roses in Asia
Feb. 18 - British designers showing their latest collections at London Fashion Week have long been popular with Asian consumers. But 20-year-old UK retailer Cath Kidston wants to dress Asian shoppers and their homes with its traditional British print.....

Recession in Poland? Dont be daft, says finmin Rostowski
. Even with the economy growing, the central bank has very considerable scope to cut rates, he says......

The man calling dollar/yen at 75
Feb. 18 - The dollar rises against the yen after Japan dodges the G20 bullet. HSBC's David Bloom explains why he is sticking to his call that the currency cross will hit 75......

Your next 'Made in China' gadget - a nuclear reactor
Feb. 18 - China's switched on its first new nuclear power plant since the Fukushima disaster, and is on track to displace the U.S. as the worlds top nuclear energy producer by 2030. Up next: exports......

Breakingviews: Cyprus election indecision is pro-bailout
Feb. 18 - Cyprus indecisive elections demonstrate a critical pro-European consensus and a public readiness to accept a bailout......

New discontent haunts squeaky-clean Singapore
Feb. 18 - Singaporeans engage in a rare protest against government plans to boost immigration, pointing to political risks in a city known as a haven of stability in a shaky region. Tara Joseph reports......

Reuters Today: Japan dodges G20 bullet, yen weakens further
Feb. 18 - Tokyo dodged direct criticism from G20 finance ministers and central bankers on its reflation plans that have weakened the yen......

Market Pulse: Gold bugs to jitter bugs - $1,500/oz looms
Feb. 18 - Even gold bugs may be losing their confidence on prospects for the precious metal, with BofA Merrill Lynch metals strategist Michael Widmer predicting that a test of $1,500/oz looms......

Reader's Digest files for second bankruptcy
Falling sales have made multi-million dollar debt pile impossible to bear.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b2a1c3/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.co.....

G20 currency truce shortlived as Japan mulls foreign bond buys
Japan's premier has left the door open for outright purchases of foreign bonds to weaken the yen, a move that would risk a serious clash with the US and Europe and a fresh escalation in global currency tensions.<img width='1' height='1' src='http:.....

Bumi set for shareholder showdown after key investor sells out
Bumi is set for a dramatic showdown at its shareholder meeting this week after one of the miner's largest investors sold his stake in the group, throwing into doubt a crucial vote on an overhaul of the company's board.<img width='1' height='1' src.....

Broker encourages investors to `buy British'
Deustche Bank said domestically-exposed shares are most attractive.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b1edc8/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/158.....

Why the future of ads is looking up at Curb
Anthony Ganjou says his small advertising agency is proving there's still plenty of money to be made offline .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b1edc9/mf.gif' border='0'/><br/><br/>.....

Frozen burger sales fall 40pc following horse meat crisis
Sales of frozen burgers have slumped by 40pc as the horse meat saga causes customers to shun own-label brands, industry data have shown.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b1c3ea/mf.gif' border='0'/.....

Aviva to sell Turkish division as it shrinks its balance sheet
FTSE 100 insurer Aviva is selling its listed Turkish business, Aviva Sigorta, which trades on the Istanbul Stock Exchange with a market value of TRY735m (269m).<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b1.....

Questor: avoid UBM until full-year results in March as shares look expensive
When UBM chief executive David Levin announced the sale of the group's Delta data services division earlier this month, the stock market didn't take the news well.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

UK warns Europe's bank pay curbs will backfire
European proposals to curb bank bonuses will lead to higher salaries and a less stable financial system, Britain has argued, in a last ditch attempt to water-down rules that threaten the City.<img width='1' height='1' src='http://telegraph.feedspo.....

IHG unveils 13 new hotels in India
Multinational hotel group InterContinental has unveiled a deal to build 13 new hotels in India, creating over 2,000 jobs in the country and helping to "safeguard" hundreds of UK roles.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Ed Miliband's plan to tax rich and poor is wrong on both counts
To much fanfare, Ed Miliband has proposed the introduction of a "mansion tax" on properties worth more than 2m, with the money raised used to fund the reintroduction of the 10p lower rate abolished by Gordon Brown.<img width='1' height='1' src='ht.....

Iberia workers and police clash during national strike over job cuts
Iberia workers and police clash during national strike over job cuts.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b0b991/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1.....

Novartis anger policymakers with 50m 'fat-cat' payout to outgoing chairman
A Swiss pharmaceutical group has angered policymakers keen to crackdown on "fat-cat pay" by offering its outgoing chairman 72m Swiss-francs (50m) not to work for a rival.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Equitable pensioners 'still waiting for justice'
Victims of the insurer's collapse are still waiting for their compensation from the Government.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b0b57d/mf.gif' border='0'/><br/><br/><a href="htt.....

Arms sales fall for first time since mid 1990s as BAE slips to third place
Pressure on the global defence industry was laid bare as arms sales fell for the first time since the mid 1990s, while BAE Systems slipped from second to third in a league table of the biggest arms makers.<img width='1' height='1' src='http://tele.....

Mario Draghi says talk of currency war 'excessive'
The euro's exchange rate should not be dramatised with needless talk of currency wars, European Central Bank president Mario Draghi has said.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b0af3e/mf.gif' border.....

Water bills to be added to credit score reports
Yorkshire Water customers who miss payments could find it harder to get a loan or a credit card following an agreement between the utility provider and credit reference agency Experian.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Money MOT: the cheapest loan rate for a decade
The Derbyshire Building Society has reduced the rate on its personal loan to 5pc, but only temporarily. Is it worth applying for?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b0af44/mf.gif' border='0'/><.....

Phytopharm shares plunge 80pc as major Parkinson's drug fails
The future of Phytopharm, a British biotech company, was left hanging in the balance on Monday after its major drug for treating Parkinson's disease unexpectedly failed in a clinical trial.<img width='1' height='1' src='http://telegraph.feedsporta.....

First Capital Connect voted worst train operator
First Capital Connect has been voted the worst train operator by commuters, according to a survey conducted by Which?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28afec11/mf.gif' border='0'/><br/><.....

The world's most powerful brands
Apple might dominate in terms, but here are the ten brands that come out on tiop when it comes to<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28afec12/mf.gif' border='0'/><br/><br/><a href="h.....

Sterling strikes seven-month lows amid calls for further weakness
Sterling struck seven-month lows against the dollar on Monday, as a Bank of England policymaker said that the pound may need to weaken further.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28afe427/mf.gif' bord.....

Sterling strikes seven-month lows
Sterling struck seven-month lows against the dollar, before later recovering some of its losses, as a Bank of England policymaker said the pound may need to weaken further.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Royal Mint strikes first coin in India for nearly 100 years
The Royal Mint's gold Sovereign commemorative coins will be struck in India for the first time in nearly a century.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28b0b57e/mf.gif' border='0'/>.....

Royal Mint strikes first coin in India for nearly 100 years
The Royal Mint's gold Sovereign commemorative coins will be struck in India for the first time in nearly a century.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/28aece75/mf.gif' border='0'/><br/><br.....