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Sunday 5 May 2013

UK Financial News on 2013-05-05

RBS boss Hester 'desperate to lend'
Royal Bank of Scotland is "desperate" to lend 20bn to UK businesses, the bank's chief executive has claimed......

Oil and gas sector exports grow
Exports related to the oil and gas industry grow for the 14th year in a row and are now worth 17.2bn, a survey suggests......

VIDEO: Teen buys 105 of groceries for 1.62
A teenager is saving his mother hundreds of pounds in grocery bills thanks to his savvy shopping techniques......

VIDEO: Dubai's scandal-hit Godolphin stable
Described as the biggest crisis to hit horse racing for years, the revelation that 11 horses from the Godolphin stable had been given banned anabolic steroids has rocked the sport......

VIDEO: UK households 'borrowing to eat'
One-in-five UK households borrowed money or used savings to cover food costs in April, a Which? survey says......

VIDEO: Lobster catches drop 90% after winter
Fishermen have said the harsh and prolonged winter in Scotland has been disastrous for the country's lobster industry......

VIDEO: 'I bought a whole Spanish village'
As people in Spain move out of rural areas and into cities to seek work, entire villages are being sold off at rock bottom prices, drawing buyers from overseas......

VIDEO: Your Money: Lending cash to a stranger
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: Parliament protest amid Portuguese cuts
Portugal is planning to cut 30,000 civil service jobs and to raise the retirement age by one year to 66 as it tries to meet the terms of a bailout......

Buffett 2013: Berkshire's annual meeting in 60 seconds
May 4 - A look at the main event during the Woodstock of Capitalism in Omaha, Nebraska......

Malaysia election: polls open
May 5 - Voting gets underway in Malaysia's parliamentary elections that could be the closest in more than half a century. Paul Chapman reports......

Gesture control seen as future for smartphones
May 5 - Hand gestures in the air could soon simplify the operation of smart phones, say German computer scientists working on a so-called "air writing" device. Jim Drury reports......

Buffett 2013: David Stockman's wrong; no stock market bubble -Buffett
May 4 - Berkshire Hathaway Chairman & CEO Warren Buffett says stocks are fairly priced but it's harder to find companies to buy; and even though he's on Twitter, he still doesn't want to buy a tech company......

Buffett 2013: Top investors offer best value plays of 2013
May 4 - Top value investors attending the Berkshire Hathaway annual shareholders meeting offer their best bargain buys for 2013......

Buffett 2013: Top investors on what Buffett should buy next
' Rhonda Schaffler asks top investors: What should Warren Buffett buy next?.....

Buffett 2013: Bond holders to "get crushed"; stay in stocks -Winters
May 3 - Wintergreen Advisors' David Winters says there's more upside for stocks & thinks bond holders will "get crushed" when interest rates rise. Abroad, he likes conglomerates Orkla and Jardine Matheson......

Buffett 2013: "Less than meets the eye" in Berkshire results
May 3 - Berkshire bear Doug Kass, who will question Warren Buffett at the company's annual meeting, says that Berkshire Hathaway's quarterly earnings are "of lower quality" if you look at them closely......

Business needs action, not more legislation
The Queen's Speech is just days away but it would be best for Britain if growth schemes already announced were delivered.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8b6f04/mf.gif' border='0'/><div cla.....

German euro founder calls for 'catastrophic' currency to be broken up
Oskar Lafontaine, the German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is "leading to disaster".<img width='1' height='1' src='http://te.....

SFO probes new claims over Bumi's missing 48m
The Serious Fraud Office has examined fresh evidence alleging that $75m (48m) of funds missing from a subsidiary of Indonesian miner Bumi is directly linked to former director Rosan Roeslani.<img width='1' height='1' src='http://telegraph.feedspor.....

Rail and bus firms poised to cash in on assets sale in Europe
UK transport companies frustrated at delays to rail bidding competitions are turning to Europe as cash-strapped governments are forced to open up their train and bus markets.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f.....

Nationwide wins backing for revolutionary new bond issue
Institutional investors are preparing to back a capital issuance of around 500m by Nationwide Building Society, which could be launched as early as next month.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8b5.....

Forget health spending: supporting growth plans must take priority
Let us be clear: Government spending is falling and will continue to fall, and we cannot expect the public sector to drive growth. This must come from the private sector, which needs to make the investments, deliver the output, the exports and the jo.....

Turnaround specialist Jon Moulton aims to deliver the goods with City Link
Jon Moulton would like to apply his old-school investment strategy to mega-deals but, for now, sorting out the parcels delivery firm will do.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8b570e/mf.gif' border.....

Halfords to fashion new revenue from cyclists
Halfords is branching out from car batteries and tyres into the world of fashion by launching cycling clothing in its stores.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8b570f/mf.gif' border='0'/><div.....

Betfair boss ignores cue to hand back cash but plans cost-cutting
Betfair is expected to raise its cost-cutting target but stop short of handing back the 145m cash on its balance sheet on Tuesday when it unveils what amounts to a bid defence.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Morrisons to reveal 2pc drop in sales
WM Morrison Supermarkets and Dalton Philips, its chief executive, are expected to come under renewed pressure this week, with the retailer likely to unveil another fall in like-for-like sales.<img width='1' height='1' src='http://telegraph.feedspo.....

Key North Sea oil pipeline faces closures after leaks
The Brent pipeline that carries 10pc of the UK's oil production faces the threat of more shutdowns this year due to maintenance on a key production platform.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8ac43.....

Sainsbury's talks on takeover of bank 'advanced'
J Sainsbury is in "advanced negotiations" with Lloyds Banking Group to take full control of its banking joint venture.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8ac43f/mf.gif' border='0'/><div class=.....

Qataris explore House of Fraser deal
Qatari investors have held talks with House of Fraser about buying the department store chain.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8a55b9/mf.gif' border='0'/><div class='mf-viral'><table .....

Game pays OpCapita owners more than 3.2m
The video games retailer Game paid private investment firm OpCapita and its backers 3.2m in interest and "monitoring fees" in the first four months under new ownership.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....

Eurozone crisis deepens as German 'sado-monetarists' refuse to back QE
The countries of the eurozone are running into austerity fatigue and no wonder, with unemployment at catastrophic levels, except in Germany. What scope is there to take action to boost the economy?<img width='1' height='1' src='http://telegraph.fe.....

Barclays Capital accused in Autonomy lawsuit
Barclays Capital has been named in a lawsuit filed in California seeking damages for its role in Hewlett-Packard's disastrous takeover of Autonomy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b89a554/mf.gif' .....

Hopes that FTSE 100 will emulate leaps and bounds of exotic indices
To many in the Square Mile, the FTSE 100 has put in an admirable performance so far this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b89a216/mf.gif' border='0'/><div class='mf-viral'><table .....

Warren Buffett sees 'brutal' damage for savers from central bank money printing
Veteran investor Warren Buffett has warned that savers and bondholders are suffering a "brutal" erosion of their money as the US Federal Reserve and other central banks force yields to historic lows.<img width='1' height='1' src='http://telegraph......

Mining misery to turn up a silver lining for shareholders, say bankers
Given all the hullabaloo around Glencore Xstrata last week, you could be forgiven for thinking that the mining sector is in rude health.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b8954dc/mf.gif' border='0'/.....

Ask John: If part of a business is losing money then get rid of it quickly
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/2b894f99/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><t.....

RBS 'desperate' to lend 20bn - but no-one wants it
Stephen Hester, chief executive of Royal Bank of Scotland, has said there are no takers for 20bn of funds the bank would like to lend out.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b866061/mf.gif' border='0.....

Mick Davis appoints Goldman Sachs to raise funds
Mick Davis, who lost his job as chief executive of Xstrata on Friday when it was taken over by Glencore, has appointed Goldman Sachs to rise funds.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b894d8e/mf.gif' .....

Mick Davis appoints Goldman Sach to raise funds
Mick Davis, who lost his job as chief executive of Xstrata on Friday when it was taken over by Glencore, has appointed Goldman Sachs to rise funds.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2b868df3/mf.gif' .....

Major firms join forces to target careers for the young
Several of the UK's largest employers are to work together to form a national framework to help school leavers and unemployed people to gain employment by actually knowing what jobs are on offer.<img width='1' height='1' src='http://telegraph.feed.....

Think Tank: how to deal with lenders of last resort
A homespun campaign started by a former Newcastle laundry owner is resulting in an awful lot of dirty linen being aired in an industry the Government is banking on to help resolve the SME lending impasse.<img width='1' height='1' src='http://teleg.....