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Monday 18 March 2013

UK Financial News on 2013-03-18

Hedge funds face up to fresh AIFMD challenge
Managers lack guidance on how Financial Services Authority will interpret rules.....

Senior former RBS bankers launch Hillbrook Partners
Duo start new firm after UK bank closes advisory unit.....

Ex-Goldman partner strikes out in private equity
Former Emea merchant banking head launches new firm and starts discussions over partnership with another Goldman alumnus.....

Standard Life: executives should have more skin in the game
Fund manager's CEO urges executives to invest their personal wealth in the funds they manage.....

Stamp duty makes UK second most expensive market to trade
Credit Suisse research comes amid campaign to abolish the tax with the Budget looming.....

Funds of funds in push on bespoke accounts
Moves by Hermes GPE and Pantheon highlight growing importance of managed accounts.....

Brussels to hand Esma power on banks panels
New powers for main European Union watchdog come as banks rethink panel roles after rigging scandal.....

Birch quits Hymans Robertson for Lloyds
Manager research head swaps consultancy for investment role at Lloyds.....

Satya Capital shifts down a gear for new Africa fund
African private equity investor cuts fundraising target from $500m to $300m.....

F&Cs risk chief follows other executives out the door
Latest senior departure from UK investment firm has joined equities manager TT International.....

Savers in UK banks 'well protected'
The head of the UK's financial compensation scheme says savings are "well protected" and it is "inconceivable" the Cypriot bank account tax could happen in the UK......

Cyprus banks shut until Thursday
The Cypriot central bank has announced that the country's banks will stay closed until later this week as fears mount of a bank run......

Cyprus rescue breaks all the rules
The Cypriot bailout throws away all the rules painfully negotiated since 2007-08 on how to bring order to banking systems in a crisis, Robert Peston says......

Airbus wins record plane order
European-owned planemaker Airbus has won a record order for 234 planes worth 18.4bn euros (15.7bn, $24bn) from Indonesia's Lion Air......

Aerospace future gets 2bn boost
A 2bn investment to keep aerospace technology as the UK's "jewel in our crown" is announced in Bristol......

Universal Music launches new label
Universal Music UK has announced the launch of a new label which brings together Virgin Records and Mercury Records under one name......

More jobs in UK video games industry
The number of people working in the video games industry has grown for the first time in three years, claims report.....

HMRC call handling 'must sharpen up'
The UK tax authority's new target for answering calls from taxpayers is "unambitious and woefully inadequate", according to a committee of MPs......

Further calls to boost building
Chancellor George Osborne is being urged again to increase spending on infrastructure by lobby groups the Institute of Directors and the Item Club......

CO2 rules 'will save drivers cash'
A new study claims that EU proposals to reduce CO2 will increase the cost of cars, but save much more on petrol......

Asda 'shock' at horsemeat scandal
Asda chief executive Andy Clarke says the horsemeat scandal was about criminality - not cheap food......

Ministers back Heseltine on growth
The government says it will accept most of former deputy PM Lord Heseltine's plan to stimulate the economy by boosting England's regions......

Civil servants plan further strike
Civil servants will hold a second strike over pay and pensions after an initial Budget day walkout, the Public and Commercial Services union confirms......

Teachers announce series of strikes
Teachers in England and Wales are to stage a series of strikes in a continuing row over pay, pensions and workload, unions have announced......

Social care cost cap brought forward
The government will bring forward its overhaul of the pension system and social care funding by a year to 2016, the chancellor announces......

Cyprus 'can amend bailout terms'
Cyprus can amend terms to a bailout deal that has sparked huge public anger, German and European bank officials say, as a key vote is again delayed......

Advanced talks over Hearts takeover
Talks continue between Supporters Direct and representatives of Vladimir Romanov on transferring the ownership of Hearts......

VIDEO: Cyprus bailout an 'astonishing mess'
The proposed bailout of Cyprus was an "astonishing mess", the BBC business editor Robert Peston has said......

VIDEO: 'Worrying time' for British in Cyprus
The UK government will compensate armed forces service personnel, and maintain pension payments to expats in Cyprus who have faced disruption as a result of the proposed bailout......

VIDEO: Three budget wishes for the chancellor
Business leaders, retailers and unions all have different requests for George Osborne's budget......

AUDIO: 'London's wealth split from rest of UK'
The UK is split between London and its commuter towns and the rest of the country - something especially evident in housing......

VIDEO: What makes a successful Budget?
The chancellor is a few days away from his 2013 Budget speech aiming to helping to help the economy, to cheer his backbenchers and win over potential voters......

AUDIO: Evan Davis's guide to public spending
The Today programme's Evan Davis looks at figures newly released by the Institute for Fiscal Studies......

VIDEO: Bailout plans spark Cypriot protests
Cyprus can amend the terms of a bailout deal that has sparked huge public anger and led to heavy cash withdrawals, German and European bank officials have said......

VIDEO: EU bankers' bonus cap 'non-negotiable'
There is "no room" for negotiation over the proposed EU-wide bankers bonus cap, one of its supporters has said......

VIDEO: What if everyone had a car?
What if everyone in the world had a car?.....

Hinkley nuclear could boost Somerset
But will the UK's new nuclear plant create enough new work?.....

Spending cuts: Push on or pull back?
Should the government plough on with spending cuts?.....

The sweet sound of quality success
German firms spent 400 years building a world class industry.....

U.S. Day Ahead: Investors stay on edge thanks to Cyprus
Mar 18 - Europe rears its ugly head again as nervous U.S. investors focus on how Cyprus deals with its controversial $13 billion bailout......

ROTH 2013: Market rally may encourage IPOs
Mar 18 - Byron Roth, CEO of ROTH Capital Partners says, if the markets are able to maintain early momentum, small companies may be encouraged to come to market......

Techquity: Cash king is Apple, cash is king for HP
Mar 18 - Moody's report estimates growth of Apple's leading cash pile, while Hewlett-Packard receives upgrade based on improving cash flow......

Airbus lands record Indonesian order
Mar. 18 - Airbus grabbed a record order worth $24 billion from Indonesian budget carrier Lion Air on Monday, shaking arch-rival Boeing's grip on one of the world's fastest-growing airlines. Joel Flynn reports......

Politicians let savers down in Cyprus
Mar. 18 - Cypriots based in London react with fear their savings may be further eroded and outrage that their politicians have let them down......

Euro zone shivers as Cyprus panics
March 18 - As Cyprus's parliament meets to discuss the seizing of money from bank deposits as part of an EU bailout Sonia Legg looks at why the move has sent a shiver across the euro zone......

Airbus lands record Indonesian order
March 18 - Europe's Airbus has landed a record order worth $24 billion at list prices from Indonesia's Lion Air, smashing rival Boeing's grip on one of the world's fastest-growing airlines. Joel Flynn reports.....

Qatar denial fails to dampen M&S shares
March 18 - Shares in British retailer Marks & Spencer only lost 2 percent after Qatari issued a denial it was planning a takeover bid. Shares had soared 9 percent on the initial news. Hayley Platt reports......

Europe Day Ahead: Time for a quick rethink in Cyprus?
Mar. 18 - Cyprus stays centre stage as analysts wait to see if Nicosia does a quick rethink on bailout plans. Meanwhile, ZEW index numbers and an outlook from BMW will give us more clues to Germany's health......

Trading at Noon: U.S. financials get beaten up by Cyprus
Mar 18 - U.S. bank shares are tumbling on concerns about the stability of the euro zone following a divisive bailout plan for Cyprus......

Breakingviews: Safety net for guns
March 18 - What if a gunmaker could emulate what Volvo did for the auto industry? Breakingviews editors discuss......

Fingernail display seen as handy technology for future touch screens
March 18 - Researchers in Taiwan are developing a remote control system that will turn finger-nails into mini-display screens. Using wirelessly-enabled, light emitting diodes, the team says the technology could revolutionise the way we control and us.....

Lipper Fund Awards: Smallest cap Euro stocks best investment
Mar. 18 - Lipper Award-winning Jason Holzer of Invesco is finding the best opportunities in European stocks under $500 million in market cap and has recently started getting back into financials......

Factbox: Cyprus contagion whos looking poorly?
Mar. 18 - If euro zone depositors start to run scared after Cypruss bank levy, which country is most exposed?.....

Wealth Strategies: How to inflation-proof your portfolio
Mar 18 - With concerns rising that higher inflation is on the horizon, top fund managers discuss what you need in your portfolio to protect against future price increases......

Chinese divided over dead pig scandal
Mar. 18 - Residents and butchers in Shanghai, China, are still divided over the safety of the Chinese pork industry after more than 12,000 dead pigs were dumped in a local river. Jessica Gray reports......

Cyprus deal shock shakes shares
March 18 - The surprise decision by euro zone leaders to part-fund a rescue of Cyprus by taxing bank deposits sends shockwaves through financial markets, with shares, the euro and the bonds of its southern members all tumbling. Joel Flynn reports.....

Wealth Strategies: MBS "terrific alternative" to Treasuries
Mar 18 - Lipper Award-winning fund manager Franco Catagliuolo of Fidelity says MBS have been delivering a better yield than U.S. government debt, but points out that comes will increased pre-payment risk......

U.S. Morning Call: U.S. futures down on Cyprus bailout worry
Mar 18 - U.S. futures signaling a weak open on concerns of a Cyprus bailout as Cypriots & foreign investors emptied ATMs following an unexpected $13 billion deal under which savers must surrender up to 10% of bank deposits......

Breakingviews: Muted Markets Loud on Cyprus
Mar. 18 - Investors did not seem much moved by the news of a Cypriot bank raid. Don't mistake that calm for equanimity, says Breakingviews......

India: No country for women drinkers
Mar. 18 - Its still largely frowned upon, but women in India are developing a thirst for alcohol, and global giants are betting on bubbly growth in a largely untapped market. Sareena Dayaram reports......

FACTBOX: North Korea, trading up
Mar. 18 - Despite its status as an international pariah, North Korea still manages to drum up a surprising amount of business -- and its trade with the outside world appears to be on the rise......

Reuters Today: The Great EU Bank Robbery
Mar. 18 - Anxious Cypriots await a decision on whether their savings will be used to fund a bank bailout, a move that's sent investors scurrying for safety......

Reuters Breakingviews: Legalised bank robbery in Cyprus
Mar. 18 - Cyprus bank deposit grab sets a terrible precedent for the rest of the euro zone, says Hugo Dixon. Contagion can be avoided - if parliament actually passes bailout legislation......

Cypriots anxious about savings tax proposal
March 17 - Cash point machines dry up in Nicosia ahead of an emergency parliament vote on a levy on bank deposits, part of the EU bailout plan. Jessica Gray reports......

Cyprus: investors slam 'crazy' bailout
The botched bail-out of Cyprus has been labelled as "crazy" by investors after the apparent tearing up of Europe's deposit guarantees plunged markets into uncertainty.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Cypriot savers have it cushy. We've had worse haircuts in Britain
The euro has survived Greece, Ireland and Portugal.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b66542/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/158920010627/u/3/f/.....

Internet team scoops Queen Elizabeth Prize for Engineering award for innovators
Sir Tim Berners-Lee and four other pioneers of the internet were announced as the first winners of the 1m Queen Elizabeth Prize for Engineering.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b66543/mf.gif' bor.....

Cyprus bailout - live
Britain was not informed of the eurozone plan to hit the deposits of savers, despite the many British expats involved, officials said, as Cyprus MPs delayed a vote and said bank would shut for another day.<img width='1' height='1' src='http://tele.....

Moment of madness has turned into a taxing farce for the eurozone
When it comes to the banks, politicians play with confidence at our peril.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b66544/mf.gif' border='0'/>.....

All talk and no action as the Government toils to rebuild Britain
Betting on Budget buzzwords? 'Infrastructure' is a sure-fire wager.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b66545/mf.gif' border='0'/>.....

Infrastructure body staffs up to improve project delivery
The Treasury body set up to oversee almost 350bn of infrastructure investment in Britain has embarked on a hiring spree in a signal the Government plans to improve its lacklustre record on delivering projects.<img width='1' height='1' src='http://.....

Housebuilder Berkeley 'on course' to pay shareholders 500m
Berkeley said that it was "on course" to pay more than 500m to shareholders by 2015, putting the housebuilder's directors in line to benefit from one of the most generous incentive schemes ever seen outside the FTSE 100.<img width='1' height='1' s.....

G4S shares take early hit on divestment worries
Security company weighed down by a bearish broker note.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b66546/mf.gif' border='0'/>.....

G4S shares take early hit on divestment worrries
Security company weighed down by a bearish broker note.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b4e705/mf.gif' border='0'/>.....

Cyprus: the rescue plan that backfired on Brussels
Brussels has thrown a lifeline to Cyprus - but could scuttle the euro.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b4e706/mf.gif' border='0'/>.....

Cyprus bailout: angry protesters demonstrate against plan to tax savers
Angry protesters demonstrate against plan to tax savers in Cyprus.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b4e0a8/mf.gif' border='0'/>.....

RBS to spend 700m on improving branches
State-backed Royal Bank of Scotland is to invest 700m between 2013 and 2016 in improving its branches, as part of a continuing shift in focus towards its domestic lending business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3.....

Cyprus: pension payments to British expats suspended
Pension payments to expat Britons in Cyprus will be suspended until the island's parliament votes on a proposed savings levy drawn up as part of a bail-out package, MPs have been told.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Britain is simply not producing enough new engineering talent
For decades, Britain's engineers were famous the world over.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b4dba1/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/1589201627.....

Treasury Minister reassures armed forces over Cypriot savings
Financial Secretary to the Treasury Greg Clark admits the situation in Cyprus is "worrying" but confirms that the Government will compensate British soldiers who lose out as a result of the Cypriot government levying a tax on savings.<img width='1.....

Annuity rates rise towards 6pc again
Annuity rates have risen for the first time in almost a year, according to figures from the Annuity Bureau.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b4aeae/mf.gif' border='0'/><br/><br/><.....

New UK aerospace institute planned with 2bn backing
Britain is to open a new research centre to keep its aerospace industry world-class, backed by 2bn investment from business and Government over the next seven years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Cyprus bank bail-out: market slump 'only temporary'
While markets have not been too badly affected by the economic problems in Cyprus, the crisis has raised concerns in the long term as investors fear contagion, says Andrew Edwards, CEO of currency traders ETX Capital.<img width='1' height='1' src=.....

Markets holding up after Cyprus bank bail-out
While markets have not been too badly affected by the economic problems in Cyprus, the crisis has raised concerns in the long term as investors fear contagion, says Andrew Edwards, CEO of currency traders ETX Capital.<img width='1' height='1' src=.....

AstraZeneca moves HQ to Cambridge in research revamp
AstraZeneca, the drugmaker, is to invest $500m to build new headquarters in Cambridge to tap into the city's academic talent and expertise in bioscience research as part of a major R&D overhaul.<img width='1' height='1' src='http://telegraph.f.....

Budget 2013: The six graphs that explain the hard choices George Osborne faces
Budget 2013: The economic backdrop shaping the Chancellor's decisions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b3b550/mf.gif' border='0'/>.....

Budget 2013: The six graphs that explain the hard choices facing George Osborne
Budget 2013: The economic backdrop shaping the Chancellor's decisions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b30eea/mf.gif' border='0'/>.....

Expats in Cyprus furious at 'legalised theft' of their savings
Britons living in Cyprus are outraged by the Cypriot government's plans to impose a levy on bank deposits, with many desperately trying to withdraw their savings before tax is enforced.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Buyers rush to 'blinding' returns from buy-to-let
Rightmove says government efforts to bolster lending had created an "arbitrage of immediate return".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/29b2c952/mf.gif' border='0'/><br/><br/><a href.....