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Sunday 28 April 2013

UK Financial News on 2013-04-28

Rich elderly 'should shun benefits'
Wealthy elderly people who do not need benefit payments to help with fuel bills or free travel should voluntarily give the money back, Iain Duncan Smith says......

Greek MPs vote through mass job cuts
The Greek parliament approves 15,000 civil service layoffs in return for more EU/IMF bailout money, as hundreds protest in the streets outside......

Google acquires news stream Wavii
Google acquires Wavii, a service that offer customised news streams to users, for roughly $30m (18m) in cash......

Ban zero hours contracts - Burnham
Labour leader Ed Miliband should promise to outlaw "zero hours contracts," says shadow cabinet minister Andy Burnham......

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......

VIDEO: Inside India's newest theme park
India's first major theme park has recently opened in Khopoli - but what challenges does it face and are India's consumers ready?.....

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: 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......

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

Chat apps mount challenge to Facebook
Asia's chap apps set their sights on global success.....

The waiting is over as new government takes over in Italy
April 28 - With pomp and ceremony a new Italian government is sworn in more than two months after the election. Deborah Lutterbeck reports......

Japan tests Dreamliner after ban
April 28 - Japan's All Nippon Airways tests its first Boeing 787 Dreamliner since overheating batteries forced the fleet grounded worldwide. Lindsey Parietti reports......

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......

F1 shakes up prize money as prepares for 6.5bn float
Private equity firm CVC Capital Partners has begun preparations to float Formula One on the Singapore stock market by the end of this year in a move expected to value the motor sport series at more than $10bn.<img width='1' height='1' src='http://.....

RBS investment arm 'its key weakness'
Royal Bank of Scotland's scandal-hit investment bank has become the main source of weakness ahead of the taxpayer-backed lender's announcement this week of its financial results for the first three months of the year.<img width='1' height='1' src=.....

Argos squares up for Amazon battle
After a slump in sales that has prompted questions about its relevance on the modern high street, Argos is fighting back.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b4720db/mf.gif' border='0'/><div cla.....

Bank of Cyprus executes depositor bail-in
Cypriot lender Bank of Cyprus on Sunday converted 37.5pc of uninsured deposits to equity as part of the island's 10bn (8.4bn) rescue deal.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b4737d4/mf.gif' border='0.....

Rights-for-shares scheme is wrong, but Government forced it through
Last week, the Government eventually got its way, and the controversial rights for shares scheme was passed by Parliament.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b4737d5/mf.gif' border='0'/><div cl.....

Do not be deceived by full cinemas, the popcorn effect strikes us all
As we now know, in the first quarter of this year, the UK economy defied the gloomsters and expanded by 0.3pc. So everything's all right, then? Not quite.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b47354c/m.....

Ask John: You don't have to spell 'cobbler' to be skilful at mending shoes
Straight-talking, common sense from the front line of management<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b46dddf/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td.....

Rethink listing rules after ENRC, says top shareholder
The Government must re-draw UK listing rules to stop foreign firms with lapsed controls being presented as premium stocks, a leading shareholder warns, as fresh details emerged of the crisis at miner ENRC.<img width='1' height='1' src='http://tele.....

Metro Bank boss urges business loan overhaul
Vernon Hill, the boss of Metro Bank, has called for the Government to overhaul the Enterprise Finance Guarantee scheme as the "only way" to get vital lending to small firms.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Commodities: Copper loses its sheen as over-supply puts market bears in driving seat
Copper prices have slumped almost 10pc this year, lead is down 11pc, nickel is off 10pc and aluminium has fallen more than 6pc. The recent slump in commodity prices has been acute and broad-based - can things get any worse?<img width='1' height='1.....

Monday Interview: All-American shake-up comes to UK banking
Metro lacks only the cheerleaders, reports Louise Armitstead.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b45f4b8/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td va.....

Week ahead in business and economics: April 29 - May 3
Lloyds and RBS: Only one state-backed bank is set for a 1bn Q1 profit.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b45f4ba/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr>.....

Sainsbury's chief denies he is quitting
Sainsbury's boss Justin King has been forced to deny he is quitting the supermarket following reports it has lined up headhunters to seek his replacement.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b45f27e/m.....

Hedge fund builds major stake in engineer Invensys
ValueAct Capital, an activist hedge fund, has built a major stake in Invensys, the British engineering firm that has long been the subject of takeover talk.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b45a2ea.....

Google buys news stream startup Wavii
Google has bought a start-up, that provides customised online news streams, for an estimated $30m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b448f5b/mf.gif' border='0'/><div class='mf-viral'><ta.....

Best buys on French mortgages drop to 3pc
Brokers are reporting more British buyers as borrowing costs tumble on 20-year fixed rate mortgages across the Channel. But is it a good time to buy?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b42842f/mf.gif.....

Retire at 30, and 75: The new reverse retirement
Ed Hawkins has "retired" temporarily at 33. There's good reason why he'll be the first of many, says Andrew Oxlade.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b428430/mf.gif' border='0'/><div class='mf.....

Questor share tip: Hold AB Foods after Primark boost
Associated British Foods shares are a hold, says Questor, despite Primark growth.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b427cc9/mf.gif' border='0'/><div class='mf-viral'><table border='0'>.....

Michael Praed: 'There is nothing I like about dealing with money'
The former 'Dynasty' and 'Robin of Sherwood' actor tells Nick McGrath about his lavish tipping.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b427ccb/mf.gif' border='0'/><div class='mf-viral'><table.....

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.....