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Sunday 12 May 2013

UK Financial News on 2013-05-12

BP withdraws some staff from Libya
Oil giant BP withdraws some non-essential staff from operations in Libya following UK government advice about uncertainty in the country......

G7 'agree to target tax avoidance'
The chancellor says the G7 group of industrialised nations have agreed there needs to be collective action to target tax evasion and avoidance......

UK scientists 'develop superwheat'
British scientists at a research centre in Cambridge say they have developed a new type of wheat which could increase productivity by 30%......

Firms to get army reservist cash
Small firms are to get cash incentives to release staff for service in the military reserves, says defence secretary Philip Hammond......

Economy debate 'counter-productive'
The chief economist at the Office for National Statistics criticises the public debate about whether the economy is a "smidgen up or down"......

Post offices face 'uncertain future'
A survey of sub-postmasters finds less than one in five say they can see a strong future for their business as their incomes fall......

Housebuilder upbeat as sales rise
Housebuilder Springfield suggests confidence is returning to the housing market, after posting strong first-quarter results......

Strike affects Bus Eireann services
Bus Eireann says the "vast majority of its services" are not operating due to industrial action, including some cross-border services......

VIDEO: Branson turns air stewardess after bet
Virgin boss Sir Richard Branson got dressed up as a female flight attendant after honouring a bet he lost to Air Asia chief executive Tony Fernandes......

UK Savers: Why do they still bother?
Britain's savers: Why do they still bother?.....

Turtle power emerges from shell in South Korea
May 12 - Remote-controlled turtles are being studied as a potential tool for espionage and surveillance. Scientists in South Korea say they have been able to control the walking paths of live turtles by attaching blinders to their shells, a simple, n.....

Dual-track system 'could replace Libor rate'
A dual-track system could replace the troubled Libor benchmark rate as early as next year, according to reports.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd298fb/mf.gif' border='0'/><div class='mf-vi.....

Co-op bank bosses face clawback of bonuses
The Co-op is considering clawing back pay and bonuses from former executives of its banking arm following the surprise downgrade of the mutual last week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd18585/mf.....

Co-op pioneers would not be amused by bank crisis
The Rochdale Pioneers would not have been amused. The group of 30 weavers and their friends who struggled to open what was arguably Britain's first co-operative store back in 1844 would have regarded the plight of the Co-op Bank as a symptom of a soc.....

How Britannia merger sowed seeds of Co-op's woes
The 'super-mutual' of banking is in trouble after failing to buy 632 branches from Lloyds .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd18587/mf.gif' border='0'/><div class='mf-viral'><table bor.....

Tycoon pays 1m for Lotus F1 stake
Andrew Ruhan, one of Britain's most successful property investors, has bought a 2pc stake in the Lotus Formula One team for an estimated price of 1m.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd1d886/mf.gif.....

SSE mis-selling 'not as bad as banks', chief executive Ian Marchant claims
Mis-selling by power giant SSE was not as bad as mis-selling by banks because duped SSE customers still received energy, its chief executive has claimed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd17864/mf.....

Ministers consider bail-out for UK Coal after pit blaze
Ministers are considering intervening to rescue stricken miner UK Coal by taking its fire-hit Daw Mill colliery into public ownership, it emerged this weekend.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd17.....

Centrica and Qatar eye American gas
Energy giant Centrica is eyeing US gas assets jointly with Qatar as it gears up expansion across the Atlantic.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd11d1a/mf.gif' border='0'/><div class='mf-vira.....

Our nation of online shoppers hosts the technological leaders we need
Napoleon famously dismissed the British as "a nation of shopkeepers". If he were reincarnated today (after probably having fled modern France for tax reasons), he would have to refer to us as a nation of online shoppers.<img width='1' height='1' s.....

Look east and learn from the inventors of QE what will happen next
Japan is still the third largest economy in the world, and the economic resurgence planned by its prime minister, Shinzo Abe, would affect us all .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bd1163b/mf.gif' .....

Week ahead in business and economics: May 13 - 17
BG Group's new chief executive, Chris Finlayson, unveils the energy group's long-awaited strategy update tomorrow, with hopes high that he will be able to reassure investors it is back on track after last year's shock production warning.<img width.....

BP pulls some staff from Libya amid security concerns
Oil giant BP said on Sunday that it had pulled some non-essential overseas staff out of Libya because of concerns about the political situation, following the lead of the US and British embassies.<img width='1' height='1' src='http://telegraph.fee.....

Windows 8 woes spark questions over Microsoft chief's future
A hostile reception to Microsoft's Windows 8, heralded as the start of "a new era" for the technology empire, has prompted questions about chief executive Steve Ballmer's future.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

Spanish prelate fears 'mutual hatred' over euro crisis
The Catholic Primate of Spain has called for a profound shift in Europe's debt crisis policy to avert social collapse, warning that soaring unemployment in Spain and across southern Europe has become "very dangerous".<img width='1' height='1' src=.....

BT has a sporting chance
Questor has had a hold rating on BT since February, with that rating remaining unchanged. However, things are looking brighter at BT than they have for many years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2.....

ENRC founders seek bid extension
Bankers acting for the founders of troubled mining group ENRC will this week ask for an extension to Friday's deadline to table a formal offer for the 44pc of the FTSE 100 company their consortium does not currently control.<img width='1' height='.....

Stemcor on verge of 715m standstill deal
Steel trading giant Stemcor is on the verge of signing a standstill agreement for $1.1bn (715m) of short-term loans which will allow it to accelerate its existing restructuring programme and sell off non-core parts of the business.<img width='1' h.....

Questor share tip: Hold Centamin after more Egypt woe
More bad news for Centamin. Questor says hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bccb496/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td valign='middle'&g.....

easyJet flying high ahead of new order
easyJet chief executive Carolyn McCall is to lay the groundwork for a major new aircraft order as she heralds the airline's best winter season in five years and unveils new developments to attract more business customers.<img width='1' height='1' .....

Questor share tip: Hold BT Group after its bold sports move
BT Group a hold despite game-changing strategy<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bccb498/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td valign='middle'&g.....

Dashwood: Marco Pierre White squares up to his day in court over pub stake
Marco Pierre White's clash with two of his former business partners over ownership of a Berkshire pub is coming to the boil.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bccb499/mf.gif' border='0'/><div .....

BT boss: 'We want to bring sports back to fans'
Chief executive Ian Livingston explains to Christopher Williams why he's issuing a 1bn-a-year sporting challenge to BSkyB.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bcb0a04/mf.gif' border='0'/><div cl.....

Frustrated Waitrose moves to halt Ocado tie-up with rival Morrisons
The head of Waitrose has revealed he will reject a deal between Ocado and Morrisons and that the John Lewis business is now ramping up its own online service in direct competition to the digital retailer.<img width='1' height='1' src='http://teleg.....

CVC set to return with higher offer for Betfair
A consortium led by CVC Capital Partners is poised to return with an offer slightly less than 10 a share for gambling exchange Betfair.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2bcb0a06/mf.gif' border='0'/&.....

New Co-op chief to launch strategic review
The new chief executive of the Co-operative Group is to undertake a strategic review of its businesses in the wake of the downgrade of its bank's debt status to "junk".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56830.....