Search This Blog

Monday 1 April 2013

UK Financial News on 2013-04-01

Traders lament false dawn for equities markets
Economic and regulatory uncertainty continue to weigh heavily on European trading activity.....

Bank capital rules could create an uneven playing field
Flexibility in the rules could result in European banks operating under different rules from one another.....

Has spring finally sprung? (Shareholder Spring that is)
With the 2013 annual general meeting season about to get under way, there are signs that companies are stepping up engagement with their shareholders.....

Citigroup to get new Canary Wharf landlord
Middle East-based investor is close to completing the purchase of Citigroup's London headquarters.....

Banks back Barnier boost to securitisation market
European banks cheered last week as the European Commission unveiled proposals that could help reinvigorate Europe's beleaguered securitisation market.....

National Grid shifts investment strategy
The electricity and gas supply company is planning to de-risk a substantial pension scheme with a liability-driven investment approach.....

LPFA places bet on inflation rise
It has sold the swaps it was using to insure £1.5bn of liabilities against a fall in rates.....

Vanguard embarks on UK hiring spree
Vanguard Asset Management plans to double the size of its UK base in two years.....

Apple apologises to China customers
Apple boss Tim Cook apologises to Chinese consumers after state media accuses the firm of arrogance and greed......

UK financial regulation overhauled
The UK's banking regulator, the Financial Services Authority, is abolished and replaced with two successor organisations......

California city enters bankruptcy
A judge approves the California city of Stockton's bankruptcy filing, making it the most populous US city ever to enter bankruptcy protection......

Cyprus crisis: No Russian bailout
The Russian government says it will not compensate Russian savers who have lost money in the Cyprus banking crisis......

Lord Turner to join Soros think tank
Lord Turner, head of the now-disbanded Financial Services Authority, is to join a US think tank co-founded by billionaire investor George Soros......

Welfare reforms fair - Duncan Smith
Changes to the UK's welfare system are fair, Work and Pensions Secretary Iain Duncan Smith insists, as some of the new measures come into effect......

New rules over packaged accounts
New rules by the City's watchdog to govern the abuse of sales of "packaged accounts" from banks have come into force......

Campaigners hail Novartis ruling
Healthcare campaigners hail India's rejection of a patent bid by Swiss company Novartis for its cancer drug, Glivec, amid industry criticism......

No house survey 'is false economy'
More families are shunning full building surveys so they can raise enough cash to buy a home, but this can lead to big repair bills later, surveyors say......

Jobs lost as historic mill closes
Efforts to save Scotland's oldest continually-operating textile mill from closure fail, leading to the loss of 33 jobs......

China factory pace at 11-month high
Chinese manufacturing activity increases at its fastest pace in 11 months during March, indicating that an economic recovery is continuing......

Apple denied iPad Mini US trademark
Apple is denied a trademark for the popular iPad Mini by the US Patent and Trademark Office on the grounds it is "merely descriptive"......

Japanese business sentiment improves
Japanese business sentiment improves in the January to March quarter, the Bank of Japan's Tankan survey indicates......

Miliband quits after Di Canio hired
Ex-foreign secretary David Miliband resigns from the board of Sunderland FC because of new head coach Paolo Di Canio's "past political statements"......

SA government warned by Fifa
South Africa's government are warned by world governing body Fifa over possible interference in their FA's fight against match-fixing......

VIDEO: Could virtual cash replace money?
Virtual currency Bitcoin has trebled in value, as the financial crisis in Cyprus and beyond shakes consumer confidence in traditional banks......

VIDEO: How to control mobile data costs
Consumers are wasting money by not understanding the cost of accessing emails and social networking sites via their mobile phones, according to the website billmonitor.com......

VIDEO: Is Kashmir the new Chamonix?
The unlikely location of Kashmir is making a name for itself as one of the worlds top ski destinations......

The hidden prices rises of 1 April
The price of everything from post to plane rides goes up.....

Is VAT suffering a mid-life crisis at 40?
Why are kangaroos liable for the 20% standard rate?.....

The angels helping Indian start-ups
The angels helping Indian start-ups grow their businesses.....

U.S. Day Ahead: Auto sales to surge to 15.7 mln
Apr 1 - IFR expects auto sales to surge to 15.7 mln for March and feeling the Fed's pulse with a roster of speakers on the economy......

Newsmaker: David Stockman is 'wrong' - Ross
Apr 1 - Billionaire investor Wilbur Ross says U.S. equities and bonds are not headed for a doomsday like collapse in the next few years......

Techquity: Apple's Cook apologizes again
Apr 1 - Apple's CEO asks for forgiveness from Chinese consumers. Plus how Google continues to pass the company......

Artist's "Breathing Bike" a breath of fresh air in smoggy Beijing
April 1 - Amid record-breaking levels of air pollution, a Beijing-based British artist has gone to extraordinary lengths to protect himself against the city's foul air while making a political point at the same time. Matt Hope has come up with what h.....

Trading at Noon: Nasdaq lower but eBay leads tech trading
April 1 - A number of analysts are raising their price targets on eBay today after the company set aggressive goals for 2015......

Breakingviews: Rival bidders' Dell hell
April 1 - Antony Currie and Breakingviews columnists discuss why the board's textbook handling of an offer from its founder coupled with a deteriorating outlook for the company is a double whammy to Carl Icahn and Blackstone......

U.S. Morning Call: Markets set to start Q2 with a whimper
Apr 1 - Dow futures slid lower and S&P 500 futures were flat ahead of key manufacturing data......

India court rejects cancer drug patent bid
April 1 - Swiss drug firm Novartis fails to win a patent protection case in India, which could affect other Western pharmaceutical companies looking to increase sales in the country. Jessica Gray reports......

Meet 'Zoe' - the avatar with attitude
March 31 - British scientists have created what they say is the world's most realistic human avatar. Equipped with advanced language function, 'Zoe' has been designed as a tool for use in the business and education sectors but could one day also live.....

Coutts warns clients of threat from debt markets amid bubble fears
Coutts, the high-end private bank, has warned its clients against exposing their fortunes to a potential collapse of the high-yield debt market amid growing concerns of a new global credit bubble.<img width='1' height='1' src='http://telegraph.fee.....

IAG 'to order Airbus A350s for British Airways'
Airline holding company International Airlines Group could order Airbus' new A350 long-range aircraft for its British Airways arm as soon as this week, according to reports.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Spain 'to revise down growth forecast and seek more time to cut deficit'
Spain will revise down its economic growth forecast for 2013 next week and seek more time from the European Union to reduce its budget deficit, as a recession cuts deeper than previously expected, according to reports.<img width='1' height='1' src.....

Spain 'to revise down growth forecast and seeks more time to cut deficit'
Spain will revise down its economic growth forecast for 2013 next week and seek more time from the European Union to reduce its budget deficit, as a recession cuts deeper than previously expected, according to reports.<img width='1' height='1' src.....

The banks have changed, now let them help the UK grow
So, RIP the FSA. The Financial Services Authority has finally been laid to rest, put out of its misery for failing to stop the financial crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a37a745/mf.gif' bor.....

The UK must focus on three priority areas in the decade ahead
At a time when the international economic environment is tough and the world has never been more competitive, there are no quick or easy solutions to boosting economic growth in the UK, especially given the fiscal constraints the Government faces.<.....

Kevyn Orr - the man who must fix Detroit
Kevyn Orr is Detroit's new money man. His problem is, there isn't any.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36e969/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Apple says sorry to China over warranties
Apple has bowed to political pressure in China and apologised over its customer service levels.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36e96b/mf.gif' border='0'/><br/><br/><a href="htt.....

Apple chief Tim Cook apologises to China over customer service
Apple has bowed to political pressure in China and apologised over its customer service levels in the country following a series of attacks by state-run media outlets.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Cypriot president faces scrutiny over alleged capital flight
Three Cypriot judges will be granted sweeping powers to investigate allegations top politicians and their family members used foreknowledge of the devastating bail-out deal to protect their assets.<img width='1' height='1' src='http://telegraph.fe.....

Venture firm brings in the 'family' to boost start-ups
DFJ Esprit is hoping the Enterprise Investment Scheme, the UK's flagship tax initiative aimed at boosting investment in risky start-ups, can help it tap the wealth and experience of entrepreneurs it has backed in the past.<img width='1' height='1'.....

Airlines flying high as blue-chips make a pre-crisis comeback
Two airlines have soared well above the rest of the FTSE 100.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36ac7d/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/161990982.....

TripAdvisor borrows anti-fraud techniques from finance industry
TripAdvisor, the travel website, has introduced a crackdown on fraudulent reviews by borrowing techniques from the finance industry, as part of an effort to maintain trust in its hotel, restaurant and attraction recommendations.<img width='1' heig.....

Time bomb to the next crash is ticking as debt sales surge
Sales of high-yield debt - or junk bonds - have exploded this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36ac82/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/161.....

Cambridge 'needs 1bn more than Liverpool', says Coalition advisor George Freeman
Cambridge, rather than Britain's northern cities of Birmingham and Liverpool, should be the first to benefit from Lord Heseltine's regional reforms, George Freeman, the Coalition's advisor on life sciences, has said.<img width='1' height='1' src='.....

US housebuilding boom buoys up construction spend
Spending on US construction projects rebounded in February, helped by a surge in home construction, which rose to the highest level in more than four years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36a541.....

China cracks down on 'magic' car licence plates
China's attempts to curb corruption is being extended to the car park.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a36a542/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/.....

Slovenia 'will not be next Cyprus'
Slovenia 'will not need a bail-out this year', finance minister maintains.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a35ae21/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.co.....

Panasonic 'investigated over bribery allegations'
Troubled Japanese giant Panasonic is said to be under investigation by US authorities over alleged bribery at its Avionics subsidiary.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a351001/mf.gif' border='0'/&g.....

Novartis loses landmark patent case in India
India's Supreme Court dealt a significant blow to Western drugs firms on Monday when it rejected an application by the Swiss pharmaceutical company Novartis to patent an anti-cancer drug.<img width='1' height='1' src='http://telegraph.feedsportal......

Investors peg hopes on global economic recovery
Bets on commodity price rises surged in March, as optimistic investors displayed levels of bullishness not seen in nearly four years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a359db1/mf.gif' border='0'/>.....

Chinese manufacturing surges ahead on robust domestic demand
Manufacturing activity in the world's second biggest economy grew at its fastest in nearly a year in March, in a dramatic acceleration from the previous month, propelled by stronger domestic demand.<img width='1' height='1' src='http://telegraph.f.....

Little known charge is sting in the tail for Isa investors
Investment trust depositors warned that their Isa holding may carry unexpected charges.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a334c38/mf.gif' border='0'/><br/><br/><a href="http://da.f.....

First Utility claims Big Six energy firms 'quash' competition
Energy supplier First Utility has hit back at npower over "incorrect" claims that small companies enjoy an unfair advantage, claiming the Big Six energy firms in fact use loss-leading tariffs to "quash competition".<img width='1' height='1' src='h.....

UK retailers boosted as investment pours into shopping centres
Britain's retail industry has received a welcome vote of confidence after a spike in investment in shopping centres this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2a31f2ba/mf.gif' border='0'/><br.....