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Thursday 25 April 2013

UK Financial News on 2013-04-25

Economy avoids triple-dip recession
The UK economy avoids falling into a triple-dip recession after seeing 0.3% growth in the first three months of the year......

Spain unemployment hits record high
Unemployment has risen once again in Spain to another new record of more than six million, 27.2% of the workforce......

US lifts Boeing Dreamliner ban
US regulators have issued a formal "air worthiness" directive allowing revamped Boeing 787 Dreamliners to fly again, after a three-month grounding......

Amazon sales rise but profits fall
Online retail giant Amazon saw a fall in profits but rising sales in the first three months of the year, as it spends money on expansion......

Google searches predict market moves
A study of Google searches and US stock market data finds that rises in searches for financially relevant terms precede market slumps......

UK fraud probe for Kazakh miner ENRC
The UK's Serious Fraud Office starts an investigation into Kazakh mining company and FTSE 100 member Eurasian Natural Resources Corporation......

Car insurance prices 'start to fall'
The cost of motor insurance has fallen by 4.1% over the last year, according to an AA survey of the cheapest deals on the market......

MPs call for sole pensions regulator
One regulator should be responsible for regulating the workplace pensions sector as millions more people are signed up to schemes, MPs say......

Greek asset bidder given more time
Greek-Czech investment fund Emma Delta is given more time to submit an improved bid for Greek gambling monopoly OPAP......

Santander bank profits fall 26%
Santander, the eurozone's biggest bank, reports a 26% fall in profits for the first three months of the year......

Google offers clearer search labels
Google agrees to alter its search results, with clearer labels for its own services and more promotion for rivals' sites......

Hinkley plant construction delay
There is "no prospect" that construction of a planned new nuclear power plant in Somerset will start this year, Union leaders warn.....

Letta set to become Italy's next PM
Centre-left politician Enrico Letta appears set to become Italy's prime minister, and pledges a change of direction on austerity......

Wikileaks in Iceland court victory
Wikileaks wins a victory in Iceland's Supreme Court against a financial blockade on payments to the whistle-blowing site......

South Korea growth at two-year high
South Korea's growth rate hits a two-year high in the first three months of the year, boosted by a rebound in construction, investment and exports......

Lloyds' Co-op deal falls through
The planned sale of 631 UK bank branches by Lloyds Banking Group to the Co-op group falls through......

Virgin bill goes viral on Facebook
A broadband bill sent to a deceased man by Virgin Media has gone viral on social media after his son-in-law complained......

Small business lending plan extended
The Bank of England announces plans to expand a lending scheme designed to help businesses and households......

German business confidence sinks
German business confidence falls in April for the second consecutive month, according to a closely-watched Ifo survey......

Spain's Bankia returns to profit
Troubled Spanish lender Bankia announces a return to profit after a disastrous 2012 that saw record losses and an EU-sponsored bailout......

Hyundai Motor profits drop 15%
South Korea's Hyundai Motor reports a 15% drop in first quarter profit, after being hit by industrial action and the strength of the won......

Sony doubles earnings forecast
Sony doubles its earnings forecast for the year to March 2013, helped by the weaker yen and money raised from asset sales......

Boeing profits up despite 787 crisis
Boeing says it will resume deliveries of its 787 Dreamliner in May as it reports a jump in quarterly profits despite the aircraft's battery problems......

LTA and Stubhub in ticket deal
The Lawn Tennis Association (LTA) and secondary ticketing site Stubhub sign a three-year deal covering three English tournaments......

SFA seeks Rangers Green clarity
The SFA seeks information from Rangers regarding allegations of Charles Green's dealings with Craig Whyte......

Charter for Qatar World Cup workers
The committee responsible for overseeing Qatar's 2022 World Cup says a new "workers' charter" will ensure worker welfare standards in the Gulf state......

VIDEO: GDP figures: The view from Swindon
The UK economy grew by 0.3% in the first three months of 2013, avoiding falling back into recession. Dave Harvey spoke to people in Swindon to get their reaction to the announcement......

VIDEO: Are shoppers concerned about Bangladesh?
Shoppers in London were asked if they knew where the clothes they were wearing were manufactured and if they were aware of the Dhaka building collapse......

VIDEO: UK economy: Feeling the pinch
The BBC spoke to people in Winchester to find out their views on the economy, as the latest GDP figures showed that the country has avoided going back into recession......

VIDEO: 'Lives shouldn't be risked for 2 t-shirts'
Western companies who source clothes from factories are putting workers at risk by failing to ensure strict safety guidelines are adhered to......

VIDEO: How 'showrooming' is changing retail
Amy Cashman from market research company TNS UK explains about the phenomenon of "showrooming", where consumers sample products on the high street before buying them online for less......

VIDEO: 'My friends left Spain for job in Chile'
More than six million people in Spain are jobless after the rate of unemployment soared to 27.2% of the workforce in the first quarter of 2013......

VIDEO: Japan carriers hit by Dreamliner delays
In Japan, airlines are still waiting for their fleets of Boeing 787 Dreamliners to take to the skies again. Rupert Wingfield-Hayes reports from Tokyo......

VIDEO: Inside the mine a mile under the sea
Peter Day goes down Europe's second deepest mine - one mile below the North Sea, where there are 600 miles (1,000 km) of roadways leading to the potash face......

The story of the downturn
Clickable guide: Five years of struggling to recover.....

Can Japan win the war against deflation?
Japanese consumers are crucial to the success of its big bazooka.....

The bank branch of the future?
Are banks just in need of a makeover?.....

Taiwan forced to raise welfare spending
Family breakdown forces changes in welfare system in Taiwan.....

Human extinction warning from Oxford
How are humans going to become extinct?.....

U.S. Day Ahead: Q1 economic growth, as good as it gets...
April 25 - The U.S. is set to see GDP growth by about 3 percent in the first quarter, but expect it to go downhill afterwards......

Where Netflix is trouncing Applefor now
Apr 25 - There's no doubt that Apple and Netflix have reversed roles in the market. Here are the numbers......

China bird flu spurs drive for universal vaccine
April 25 - Spurred by the ongoing outbreak of the deadly H7N9 influenza in China, scientific teams around the world are engaged in an intensive effort to find a durable, long-lasting vaccine, not just for H7N9, but for all forms of pandemic and seaso.....

Techquity: Search success with Google, zinger from Zynga
April 25 - Study crafted that shows profit potential from Google searches while Zinga suffers after issuing a warning......

Daily Digit: UPS' 125 packages a minute
April 25 - UPS delivered 125 packages every single minute during the first quarter of 2013, 4.1% more than a year ago. Conway G. Gittens reports......

FACTBOX: Sequestration's unfriendly skies
Apr 25 - How $85B worth of budget cuts are creating big problems for U.S. airlines. Here are the numbers........

Retailers in spotlight following Bangladesh factory collapse
April 25 - Clothing retailer Primark confirms one of its suppliers occupied a section of the garment factory building in Bangladesh which collapsed, killing over 180 people. Ivor Bennett speaks to Oxfam in Bangladesh about whether the accident will l.....

Trading at Noon: How mighty will Amazon's earnings be?
Apr 25 - We preview earnings expectations for e-commerce giant Amazon......

Breakingviews: Mid-life Apple
April 25 - Breakingviews columnists discuss signs the tech company is hitting middle age and how long CEO Tim Cook can be comfortable in his job......

UK avoids triple-dip recession
April 25 - Britain's economy dodged a return to recession in the first quarter of the year, providing some relief for Finance Minister George Osborne, who's come under pressure from the IMF to slow the pace of austerity. Joanna Partridge asks if the .....

Vodafone shares rise on Verizon takeover talk
April 25 - Vodafone shares are boosted by reports Verizon Communications is preparing to take full control of Verizon Wireless from its British venture partner Vodafone. Kirsty Basset reports......

EBRD to debate austerity versus growth at AGM
how member countries need to innovate to achieve a return to stable growth......

EBRD to debate austerity versus growth at AGM
how member countries need to innovate to achieve a return to stable growth......

Europe Day Ahead: BASF, WPP take the economic temperature
April 25 - Gauging the health of the global economy with results from BASF and WPP, German import and export prices and French consumer confidence. European markets watching US GDP and the Bank of Japan closely......

Billion euro project to recreate the human brain gets underway
April 25 - Scientists have begun working to recreate a human brain inside a supercomputer, one of the most ambitious scientific projects ever undertaken. The Human Brain Project, led by Swiss institute, the EPFL, aims to build the replica organ withi.....

U.S. Morning Call: Verizon revs up Wireless buyout talks
reports exclusively that Verizon Communications has hired advisers to prepare a possible $100 billion cash and stock bid to take full control of Verizon Wireless from its partner Vodafone......

In the Boardroom: Going overboard?
April 25 - How much is too much? Lucy Marcus talks to Mike Rake Barclays, Easyjet, BT and McGraw Hill board member - about juggling multiple roles and knowing your limits......

Spanish unemployment soars to record 6.2 million
April 25 - More than six million Spaniards were out of work in the first quarter of this year, raising the jobless rate in the euro zone's fourth biggest economy to 27.2 percent, the highest since records began in the 1970s. Hayley Platt reports......

Sports Spread: Title Race Over, Plenty to Play For
April 25 - The Premier League title race is over but there's still plenty to play for if your team's chasing a Champions League spot or fighting relegation. A look at the weekend's key footballing fixtures......

Market Pulse: UK GDP shock electrifies cable
April 25 - Sterling is on for its biggest rise vs the dollar in 9 months, after Britain avoided a triple-dip recession. But bad news from Spain 27% unemployment and Santander earnings tumble......

Wealth Strategies: Wharton's Siegel sees Dow 16K by year end
Apr 25 - Wharton professor Jeremy Siegel says P/E expansion and earnings growth could lead the Dow Indtrials higher through 2013 and says valuations, even of tech stocks like Apple, are historically low......

UK gives triple-dip the slip
April 25 - Britain's economy grew by more than expected in Q1 - confounding most economists who expected the country to be close to the edge of its third recession in five years......

Rough Cuts: Cheap clothes, but at what cost?
April 25 - Retailers like Wal-Mart and the Gap are drawn to suppliers in Bangladesh due to its low-cost production. But hundreds of garment workers have died in two major accidents within the last six months......

Breakingviews: Wages key to Japan hitting inflation target
Breakingviews Asia editor Peter Thal Larsen......

Breakingviews: Pressure on Vodafone to exit U.S.
says. Vodafone is staying silent, but momentum is building for a deal says Breakingviews......

Socialite accused of lying in court to win record settlement
When a judge ordered her former fianc to pay her a record 27,000 a month in child support, Annabelle Bond no doubt celebrated in style.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2db242/mf.gif' border='0'/&.....

Regent Street's revival gives hope to high streets everywhere
According to The Kinks' classic track, Regent Street was a destination for the "dedicated follower of fashion".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2da5bb/mf.gif' border='0'/><div class='mf-vir.....

Bumi finance chief lacked work permit for nine months
The finance director of Bumi, the Indonesian coal miner forced to suspend its shares this week, could not perform a crucial part of his job for nine months because he lacked the necessary work permit.<img width='1' height='1' src='http://telegraph.....

Warner Bros contributes 1bn a year to UK economy
Harry Potter's magic spell helps Warner Bros contribute more than 1bn a year to the British economy, a new report has claimed, as the Hollywood film giant prepared to welcome the Royal Family to its UK studios.<img width='1' height='1' src='http:/.....

With a bit of luck the GDP figures could herald a domestic revival
Britain is growing again. That's the message that needs to be taken from Thursday's figures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2ce14d/mf.gif' border='0'/><div class='mf-viral'><table bo.....

SFO launches criminal investigation into ENRC
The Serious Fraud Office has launched a criminal investigation into Eurasian Natural Resources Corporation (ENRC) amid allegations of fraud, bribery and corruption at the FTSE100 company.<img width='1' height='1' src='http://telegraph.feedsportal......

'I want to leave': Interview with Argentina Economy Minister Hernan Lorenzino goes viral
Video shows Argentina's Economy Minister trying to leave an interview when asked about inflation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2d0f9a/mf.gif' border='0'/><div class='mf-viral'><tab.....

Will Angela Merkel be the Abraham Lincoln of her age?
The fate of Europe - and Britain - depends on what the German Chancellor does next, says Jeremy Warner<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2d0f9c/mf.gif' border='0'/><div class='mf-viral'>&l.....

Will Angela Merkel be the Abe Lincoln of her age?
The fate of Europe -and Britain - depends on what the German chancellor does next, says Jeremy Warner<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2cd283/mf.gif' border='0'/><div class='mf-viral'><.....

Pound jumps as UK steers clear of triple dip
Britain has escaped an unprecedented triple-dip recession after the economy grew by a forecast-busting 0.3pc in the first three months of the year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2cd0b0/mf.gif' .....

Could first quarter growth be the start of the real recovery?
George Osborne had good reason to celebrate on Thursday. The triple-dip recession was averted. Growth of 0.3pc in the first quarter was even better than the optimists dared hope. And Britain's vital services sector edged further above its pre-recessi.....

Vodafone and Verizon edge closer to deal
Vodafone and Verizon have edged a step closer to one of the biggest deals in history, as the American telecoms giant hired advisers to prepare a $100bn (66bn) takeover bid for their Verizon Wireless joint venture.<img width='1' height='1' src='htt.....

WANdisco rises on 'Big Data' hopes
The shares closed at 802p, well above the 180p float price set in June.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2c3ffb/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr>.....

UKFI boss Jim O'Neil quits to rejoin Bank of America Merrill Lynch
Jim O'Neil, the official in charge of Britain's multi-billion pound holdings in Lloyds Banking Group and Royal Bank of Scotland, has dealt a blow to the government's hopes of selling the stakes in the near future after resigning from the job.<img .....

Treasury hires out building to Fast and Furious film makers
Treasury finds a unique way of raising money - hiring out a building to the makers of Fast and Furious 6.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2bef69/mf.gif' border='0'/><div class='mf-viral'>.....

Business news and markets: as it happened, April 25, 2013
Britain has averted a return to recession, with the latest official figures showing that the economy grew 0.3pc in the first quarter, trumping the 0.1pc rise expected by economists.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

Virgin Atlantic executive leaves airline after missing out on top job
A long-standing Virgin Atlantic executive, who was widely tipped to take the helm of the airline, is leaving the company just a few months after being passed over for the top job.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32.....

Business news and markets: live
Britain has averted a return to recession, with the latest official figures showing that the economy grew 0.3pc in the first quarter, trumping the 0.1pc rise expected by economists.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

Pain in Spain drives South Americans back home
On Thursday, figures published by the NSI showed that unemployment had risen to 27.2pc.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2ae2fe/mf.gif' border='0'/><div class='mf-viral'><table border=.....

Barclays won't hit return target until at least 2015
Barclays has admitted it will take at least two years before shareholders see a decent return on their investment in the bank as its new management team continue to attempt to turnaround the fortunes of the scandal-hit lender.<img width='1' height.....

Iron Maiden beer doubles demand at family brewery
A family-run brewery in Stockport has moved to an unprecedented six-day week to meet a stampede of demand from its newest customer base - Iron Maiden fans.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2addc0/.....

Huntsworth shares surge on China deal
Shares in Huntsworth, the public relations company ran by David Cameron's friend Lord Chadlington, surged 14pc after a deal with a Chinese company was announced.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2.....

History tells us that GDP estimates are unreliable
Britain's economy grew by 0.3pc in the first three months of the year. But past experience suggests that the true figure could be even higher.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b2a0a81/mf.gif' borde.....

David Cameron urges EU crackdown on tax evasion
David Cameron has written to European Union leaders demanding measures to tackle "staggering" levels of tax evasion that are damaging the revenues of governments at time of economic recession.<img width='1' height='1' src='http://telegraph.feedspo.....

Virgin Media apologises for bill to deceased customer
A Virgin Media bill sent to a deceased customer, which included a fine for late payment, was shared more than 90,000 times after it was posted on a social networking site.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....