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Saturday 27 April 2013

UK Financial News on 2013-04-27

Refund problems for debit cards
Some customers claiming refunds on their debit cards have been disappointed because of time limit problems.....

First Dreamliner flight lands safely
An Ethiopian Airlines 787 Dreamliner flies from Addis Ababa to Nairobi, the first commercial flight by the Boeing aircraft since all 787s were grounded in January......

Welby raps City 'entitlement' ethos
The City of London has been affected by a "culture of entitlement", the new Archbishop of Canterbury Justin Welby says......

Ban 'insider' tax accountants - MPs
MPs call for a ban on external accountants working inside government, to stop them telling clients about tax loopholes they have found......

US economic growth reaches 2.5%
The US economy grew at an annualised pace of 2.5% in the first quarter of the year, weaker than expected despite strong consumer spending figures......

Japan boosts economic forecasts
The Bank of Japan raises its forecast for both economic growth and inflation this year in its twice yearly report......

Spain revises down economic forecast
Spain's government lowers its forecast for the Spanish economy this year, warning the level of contraction is likely to be worse than previously estimated......

Samsung profits get smartphone boost
Samsung Electronics posts record quarterly profit, boosted mainly by growing sales of its smartphones......

Man Utd star van Persie signs for BT
BT Sport signs Manchester United's Robin van Persie to be the publicity face of its advertising campaign for its live Premier League broadcasts......

Japan lifts Boeing Dreamliner ban
All Nippon Airways is to begin Dreamliner test flights after Japan's regulator followed the US aviation authority in clearing Boeing's 787 to fly......

Government share sale chief quits
The man in charge of selling off the government's stakes in Royal Bank of Scotland and Lloyds has resigned......

UK shale gas bonanza 'not assured'
Shale gas in the UK could help secure domestic energy supplies but may not bring down prices as they have in the US, MPs warn......

China agrees $8bn Airbus plane deal
China agrees to buy 60 planes from European firm Airbus, in a deal worth $8bn (5.2bn) at list prices......

Honda profits boosted by weaker yen
Honda reports a 74% jump in annual profits, boosted by a recovery in overseas sales and a weak Japanese yen......

Churchill to feature on new banknote
Sir Winston Churchill will feature on the new design of a banknote which will enter circulation in 2016, the Bank of England announces......

Keegan launches football training systems
Football legend Kevin Keegan launches interactive football training systems to help improve soccer skills, particularly among youngsters......

Orient loses stadium review plea
Leyton Orient's written application for judicial review into the tenancy of the Olympic Stadium is rejected by a court......

400 jobs to go at Olympic roof firm
The Newport firm which built the Olympics Aquatics Centre roof - and worked on many Welsh landmark venues - is to go into administration, with the likely loss of 400 jobs......

Fry appointed Premier League chairman
Corporate financier Anthony Fry is to take over as chairman of the Premier League in June, replacing Dave Richards......

VIDEO: Your Money: The big benefits shake up
In this week's Your Money, Declan Curry looks at how changes to the benefits system will change household income and how you could get more for your money by lending cash directly to companies......

VIDEO: New batteries give Dreamliner take-off
An Ethiopian Airlines 787 Dreamliner is due to take off from Addis Ababa on Saturday morning, the first commercial flight by the Boeing aircraft since all 787s were grounded in January......

VIDEO: Trouble brewing in Israel beer industry
The growth of micro-breweries in Israel is under threat by the introduction of a new beer tax announced this week......

VIDEO: Hugh's Review: Is the recovery underway?
Hugh Pym and guests discusses this week's figures for economic output which showed that the UK avoided a so called triple dip recession......

VIDEO: US economy growth reaches 2.5%
The US economy grew at an annual rate of 2.5% in the first three months of the year, helped by the strongest consumer spending figures in two years......

VIDEO: Japan lifts Boeing Dreamliner ban
Japan's airline authority has followed the US regulator in clearing Boeing's troubled 787 Dreamliner to fly again once batteries are replaced......

VIDEO: Churchill to feature on new banknote
Sir Winston Churchill will feature on the new design of a banknote which will enter circulation in 2016, the Bank of England has announced......

How to eat healthily on 1 a day
Can you manage a balanced and healthy diet on less than a bus fare per day?.....

Austerity: Views across Europe
Correspondents around the eurozone test its popularity.....

The struggle to get France working again
Hollande's struggle to get France working again.....

Textile workers' deaths 'avoidable'
The low pay of Bangladeshis making clothes for the West.....

Boeing says 787 planes safe
April 27 - Representatives from aircraft manufacturer Boeing say the Dreamliner 787s are flight ready after being grounded for months due to overheating batteries. Jessica Gray reports......

Sluggish economy, sluggish markets
April 26 - Summary of business headlines: Dow rises, but stocks falter on weaker-than-expected GDP report; consumer sentiment weakens in April; Burger Kings results not bad as feared, Chevron tops forecast; Amazon sinks on outlook; J.C. Penney surges.....

U.S. Week Ahead: Get ready for 7-months of jobs weakness
April 26 - Friday's non-farm payrolls could mark the beginning of tepid jobs growth till the third-quarter, according to economists at IFR......

MuniLand: Very big risk of Puerto Rico junk downgrade
April 26 - Analysts say Puerto Rico's new $9.8 billion budget may not be enough to get the commonwealth back on track. Thornburg's Chris Ryon says junk ratings & possibly default could be in Puerto Rico's future......

2.5% economy may be as good as it gets
Apr 26 - The U.S. economy grew a softer-than-expected 2.5 percent annual rate in the first three months of the year, a pick-up from the fourth quarter, but there are many signs pointing to a recovery that is stalling. Conway G. Gittens reports......

London's Bond Street a magnet for foreign investors
April 26 - Demand for retail property in London's most expensive street reaches an all time high. Ivor Bennett reports that despite low rental yields, competition is as fierce as ever for a coveted Bond Street shopfront......

Techquity: Amazon's expansion issues, gaffes from Google
Breakingviews Columnist Rob Cyran on the challenges facing Amazon and the latest gaffes from Google Executive Chairman Eric Schmidt......

Trading at Noon: Housing stocks going through the roof
Apr 26 - Shares of D.R. Horton and other homebuilders are up today following strong results......

Breakingviews: Energy sapped
April 26 - Jeffrey Goldfarb talks to Breakingviews columnist Chris Swann about the various drags on Exxon Mobil, Chevron and Occidental......

Moscovici: France treading line between austerity, growth
that France is striking the right balance between austerity and growth and is doing 'exactly what is needed' for its economy and the global economy. Rough cut only (no reporter narration)......

Europe Week Ahead: Ready, steady, low? ECB rate decision.
April 26 - The ECB dominates next weeks news, as markets rally on the prospect of a further interest rate cut. FED meeting & a big week for auto earnings......

Tourism provides a ray of hope for austerity-hit Greece
April 26 - The tide may be turning in Greece's clear waters, in the tourism industry at least. Record numbers of tourists are expected this year, following stagnation brought about by the economic crisis. Hayley Platt reports......

Wealth Strategies: Govt. must spend for economy to grow 3%+
Apr 26 - S&P's Beth Ann Bovino and Wells Fargo's John Silvia were encouraged by strong private consumption in Q1, but point out the government will need to up spending if growth is going to be better than 3%.....

Wooden solar cells shine light on cleaner power option
April 26 - Researchers at Georgia Tech University have developed an organic solar cell made of wood. The biodegradable, transparent films are designed to replace the layers of glass or plastic found in conventional solar cells, heralding the possible.....

European earnings season- good, bad, ugly?
April 26 - The earnings season is in full swing. With Europe in deep economic trouble, how badly will corporate profits be affected?.....

Japan gives Dreamliner the green light
April 26 - Japan to allow its grounded Dreamliner jets to fly again, after the U.S Federal Aviation Administration approved a new lithium-ion battery system. Hayley Platt reports......

Market Pulse: What's Moving Today and Why
Insider has its finger on the market pulse, analyzing and making sense of the biggest movers of the day......

Conservative Galaxy S4 won't derail Samsung's gravy train
' Jon Gordon......

DIW think-tanks thoughts on Europe
about the Bundesbanks criticism of the ECB and the state of the German economy......

Bank of Japan won't give up its big inflation dreams
April 26 - Has the Bank of Japan bitten off more than it can chew with its 2 percent inflation target? Yonggi Kang reports from Tokyo on whether it's likely to hit the mark......

Reuters Breakingviews: What Britain needs: "Three-I" Agenda
April 26 - What the British economy needs is a "Three-I Agenda" - Investment, Infrastructure, (skilled) Immigrants......

Past crashes suggest gold's recovery will take years.
April 26 - We've had the crash, now what for gold? A look back at the biggest losses in other major markets suggest it could take years for gold to recover. Just how many remains to be seen......

Reuters Today: ECB plan courts controversy with Bundesbank
April 26 - German opposition to the ECB's bond-buying plans could be stepped up, to the Constitutional Court, according to reports. Plus it's US GDP day, and Samsung and WPP among the earnings highlights......

Economy 2013: WPP CEO Martin Sorrell on Q1 results
about his companys first quarter results......

"Austerity is when you kill the patient" -France FinMin
April 26 - The EU's second-largest economy will honor its revised deficit target, according to French Finance Minister Pierre Moscovici, but further austerity would risk stoking another crisis of confidence......

Profit alerts soar in mining sector
Profit warnings from mining companies, which have been hit by the recent slide in commodities prices, have jumped to their highest level in 13 years after mounting costs and industrial action eroded earnings.<img width='1' height='1' src='http://t.....

BP suffers as Gulf oil spill payouts continue
BP is expected to report a 30pc slump in profits for the first three months of 2013 after the oil major continued its asset sell-off to pay for the Gulf of Mexico disaster and exited Russian joint-venture TNK-BP.<img width='1' height='1' src='http.....

Waitrose seals deal to provide Eurostar food
Waitrose to provide food for Eurostar passengers in the grocer's first move into on-board catering.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40cdd8/mf.gif' border='0'/><div class='mf-viral'><t.....

Lloyds boss plots path back to dividend
Lloyds Banking Group boss prepares to reveal the bank's net lending to UK businesses has increased for the first time since the global credit crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40cdd9/mf.gif.....

Lloyds: Putting the black horse back on track
Despite a failed deal to sell 632 of its branches to Co-op, Lloyds' boss says he is on target to rebuild the lender .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40cdda/mf.gif' border='0'/><div class='.....

Financial transaction tax 'may add to eurozone's debt woes'
The world's largest banks have warned European finance ministers that plans to impose a Financial Transactions Tax (FTT) could deepen the Continent's sovereign debt crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

O'Leary steps up Stansted landing levy fight
The chief executive of Ryanair has written to the Civil Aviation Authority accusing the industry regulator of "sitting on its hands" and "issuing platitudes" while traffic volumes plunge.<img width='1' height='1' src='http://telegraph.feedsportal......

Nord Anglia in talks to buy schools rival
Nord Anglia, the international school specialist, is in exclusive talks to buy rival World Class Learning (WCL) for a price in excess of 150m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40cdde/mf.gif' borde.....

SFO inquiry to examine ENRC's offshore payments
The Serious Fraud Office will examine more than $100m (64m) of payments to offshore accounts as part of its investigation into corruption at Eurasian Natural Resources Corporation, the embattled FTSE100 miner.<img width='1' height='1' src='http://.....

Banks cleared to begin 2bn swaps payouts
The Financial Conduct Authority has given Britain's biggest banks permission to start paying the estimated 2bn-plus compensation owed to small firms that were mis-sold derivatives products.<img width='1' height='1' src='http://telegraph.feedsporta.....

Crossrail suitors line up
At least five rail businesses including FirstGroup and National Express are set to bid for the eight-year contract to run Crossrail services across London.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40a9fb/.....

Facebook's Sheryl Sandberg paid $26.2m in 2012
Sheryl Sandberg was paid $26.2m (16.9m) in compensation in 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b40a9fc/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td.....

Fund invests 4m in ride-on suitcase Trunki
The business behind Trunki, the children's ride-on suitcase, has secured almost 4m in investment.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b406499/mf.gif' border='0'/><div class='mf-viral'><tab.....

High Speed 2 may be in wrong place: Stagecoach boss
High Speed 2, the 32bn rail link intended to dramatically reduce journey times between London and the Midlands and the north of England, could be in the wrong place.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Whitbread plans for Costa and Premier expansion as sales surge
Andy Harrison, the chief executive of Whitbread, is believed to be working on ambitious new expansion targets for the leisure group as its Costa Coffee and Premier Inn chains continue to post strong sales growth.<img width='1' height='1' src='http.....

Hand back your benefits, Iain Duncan Smith urges wealthier pensioners
Better-off pensioners should voluntarily pay back their taxpayer-funded benefits, the Work and Pensions Secretary declares.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b4006de/mf.gif' border='0'/><div c.....

Verizon gorilla eyes Vodafone gorilla - who will win?
Like two silverbacks in a cage not sure which of them is the stronger, Vodafone and Verizon are making a good fist of studiously avoiding each other's gaze.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b4006df.....

easyJet axes check-in desks
The low-cost airline is bringing what was once a great tradition to an end when it this week consigns check-in desks to the history books.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b400327/mf.gif' border='0.....

Full steam ahead for Costa as China wakes up to flat white
Costa's successful expansion is likely to see Whitbread unveil ambitious new targets, says Nathalie Thomas.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3ff934/mf.gif' border='0'/><div class='mf-viral'&.....

We want to make heroes of entrepreneurs, say banking bosses
Goldman Sachs and Santander offer help to SMEs struggling to expand their business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3ff935/mf.gif' border='0'/><div class='mf-viral'><table border='0'&.....

Sunday Interview: Railways are some kind of middle-class thing
Stagecoach's new boss says buses generate almost 90pc of profits, but people just want to talk trains .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3faeba/mf.gif' border='0'/><div class='mf-viral'>&.....

Voice of business: Squeeze every last drop out of innovation UK
There is no doubt - despite this week's slightly more positive economic figures - that British business continues to face the toughest of futures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3faebc/mf.gif' b.....

Doing the IMF's bidding would put Britain at risk
So the UK has dodged the dreaded "triple-dip".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3faebd/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td valign='middle'&g.....

Manufacturers responsible for factories, Paul Smith says
British fashion designer Paul Smith has reminded manufacturers of their responsibility to check the safety conditions in their factories abroad, in the wake of the fatal collapse of a garment factory in Bangladesh.<img width='1' height='1' src='ht.....

Questor share tip: AB Foods' Primark seems unstoppable
Throughout austerity times, Primark's performance has been stunning. Questor says hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b3ee33e/mf.gif' border='0'/><div class='mf-viral'><table border=.....