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Saturday 18 May 2013

UK Financial News on 2013-05-18

Governor warns over housing plans
The outgoing governor of the Bank of England warns a government plan to boost the housing market should not become permanent......

Ofcom plans simplified phone numbers
Some people are "put off" making important calls because of confusion over the amount they will be charged, according to the telecoms regulator......

Contactless 'charging errors' at M&S
Some Marks and Spencer customers say its contactless payment terminals have taken cash from cards other than the ones intended for payment......

Morrisons agrees deal with Ocado
Morrisons, the UK's fourth largest supermarket chain, says it will launch online shopping by January 2014 after agreeing a tie-up with Ocado......

Europe car sales break losing streak
Car sales across Europe rose in April for the first time in 18 months, helped by strong demand in the UK and by the early Easter break......

Public sector pensions face big hit
Four million public sector employees will see a dramatic reduction in the overall value of their pension schemes, a new report claims......

Ofcom: 'Too many' nuisance calls
UK households are receiving too many nuisance calls, according to the telecoms regulator, Ofcom......

Lloyds shares hit break-even point
Lloyds Banking Group's share price passes 61.2p in morning trading, the break-even point for the government's investment in the group......

Jockey Club hits its bond target
The Jockey Club hits its 15m Racecourse Bond target and extends the application window until 28 May......

Spain reports monthly trade surplus
Spain records its first monthly trade surplus in more than 40 years as demand for imports dries up......

Turkish bonds yield at record low
Turkish bond yields have hit new lows as investors greeted Moody's increase in the country's credit rating to investment grade......

China's Sina Corp sees loss narrow
Sina, which runs China's biggest micro-blogging site, sees losses narrow in the first three months of the year as revenues rise......

Man lists 12,000 call menu options
An IT manager who grew frustrated with call centre menus has catalogued shortcuts to thousands of phone services.....

Dravid 'shock' over cricket arrests
India batsman Rahul Dravid is shocked after three of his Rajasthan Royals IPL stars are arrested over spot-fixing claims......

VIDEO: Turkey's 'Italian' makeover underway
At a time of economic doom and gloom across much of Europe - the credit rating for Turkey has been upgraded......

VIDEO: Hughs review: Is the economy turning?
Hugh Pym and guests discuss the Bank of England's optimistic forecasts on growth and inflation.....

VIDEO: Europe on road to more austere measures?
Europe's GDP shrank by 0.2% in the first three months of this year as politicians debate whether to carry on with austerity plans or to change course......

VIDEO: Morrisons announces deal with Ocado
Morrisons has agreed a deal with internet grocer Ocado as it prepares to offer shoppers the option to buy good online......

VIDEO: Mega-ships head for shipping firm
Danish shipping firm Maersk Line is taking delivery of 20 of the world's largest ships, despite posting a drop in earnings......

VIDEO: WTO trade talks 'must go on'
India's commerce minister says that the latest round of global trade talks must go on - a collapse would be "disastrous" for the world economy......

VIDEO: European week in 60 seconds
The political week in Europe is reviewed in 60 seconds by David Thompson who looks back over the headlines from London, Strasbourg and Brussels, including the EU budget, fishing numbers, alleged price fixing in the oil market, and European staff set .....

Should we all be more psychopathic?
Should we all be more psychopathic at work?.....

Turkey booms but where are the Brits?
But are British firms making the most of the opportunity?.....

Europe's outlook: Cheer or jeer?
Should we cheer or jeer at Europe's prospects?.....

Quantifying the benefits of HS2
How will HS2 produce 48.2bn in benefits to society?.....

Tunisia Viewpoint
An apology to Rached Ghannouchi.....

The Do's and Dont's of Google Glass
May 17 - Google Glass makes people antsy, so manners experts say etiquette rules are in order. Fred Katayama reports......

Consumers power rally to fourth week
May 17 - Summary of business headlines: Jump in consumer sentiment, leading indicators propel Wall Street to fourth up week, Dow and S&P 500 at new heights; Jim Rogers sees correction in gold continuing. Conway G. Gittens reports......

Newsmaker: Jim Rogers on Japan, Korea and shorting JPMorgan
May 17- Investor Jim Rogers gives his take on where the Nikkei will go, what a united Korea means and why JPM boss Dimon didn't creating his company......

Newsmaker: Japan, get ready for a united Korea - Rogers
May 17 - Korea will unite in five years and challenge Japan's economic might according to Jim Rogers, CEO, Rogers Holdings......

U.S. Week Ahead: Jamie Dimon would be mad to leave JPM
Breakingviews' Antony Currie......

Newsmaker: Jim Rogers betting against JPMorgan
Investor Jim Rogers is betting against JPM through the options market. He says having a separate CEO and Chairman is probably a better way of running the company......

NEWSMAKER: No reason why Nikkei couldn't double - Rogers
May 17 - Japans markets are massively under-invested according to Jim Rogers, CEO of Rogers Holdings......

Daily Digit: Zuckerberg's $5.8 bln cut
May 17 - Mark Zuckerberg has lost $5.8 billion in value on his Facebook stock since the worlds leading social network went public just about a year ago. Conway G. Gittens reports......

Techquity: Yahoo could tumble with Tumblr, Tim Cook vs. IRS
Breakingviews Columnist Rob Cyran gives his take on Yahoo's reported interest in buying Tumblr and Apple CEO Tim Cook's scheduled appearance before Congress on tax issues......

MuniLand: Detroit Chp. 9 possible in 12-16 months-investor
May 17 - Director of Northern Trust's Municipal Fixed Income unit, Tim McGregor says a bankruptcy filing could be in Detroit's future in the next 12 to 16 months......

Breakingviews: Bank boss bingo
May 17 - Breakingviews editors namecheck Wells Fargo's John Stumpf, who is venturing onto the anti-regulation soapbox, and Jamie Dimon of JPMorgan, who faces a potentially contentious annual meeting......

Dermal fillers - a cosmetic surgery crisis in waiting?
May 17 -As the trial of the makers of PIP breast implants comes to a close in France, cosmetic surgeons in Britain warn that dermal fillers are the latest cause for concern, due to Europe's relatively loose regulation. As Joanna Partridge reports, pl.....

Trading at Noon: A look at tech IPO's on FB's anniversary
May 17 - A look at tech IPO's that debuted alongside Facebook in 2012 & which IPO will make the biggest splash this year......

Europe car registrations: IG N1TE
May 17 - Europe's ailing car market returns to growth after 18 straight months of declines, helping to boost shares in the bloc's biggest carmakers......

Hayward's corporate comeback
May 17 - A profile of former BP boss Tony Hayward, whose corporate rehabilition seems complete with his new role as interim chairman of Glencore Xstrata......

Glencore post completes the corporate rehabilitation of Tony Hayward
He was once described as the most hated man in the United States, but the corporate rehabilitation of former BP boss Tony Hayward appears complete, after he was appointed as interim chairman of commodities giant Glencore Xstrata. Andrew Potter report.....

Europe Day Ahead: Draghi makes a bee-line for London
May 17 - A look ahead to next weeks key events including Mario Draghis return to London, the latest euro zone flash PMI data, plus fashion forward numbers from Burberry and M&S......

Hackers who "wreaked havoc" at Sony jailed in UK
May 17 - Four are men sentenced to jail for a hacking spree that caused millions of dollars of damage. Tom Dinham reports......

U.S. Morning Call: New JCP CEO to face shareholders
May 17 - J.C. Penney CEO Mike Ullman heads to the company's headquarters in Texas for its annual meeting......

Market Pulse: "Buy dollars, wear diamonds"; Turkey sizzles
May 17 - You name it, the US dollar is rising against it. But upcoming comments from Fed chief Bernanke will be critical. And after a sovereign rating upgrade to investment-grade status, Turkish assets sizzle......

Reuters Breakingviews: Hollande gets serious on Europe - at last
May 17 - French President Francois Hollande's plan for a centralised euro zone 'economic government' may be premature, but it has legs argues Breakingviews......

Aureus Mining on Liberia expansion
May 17 - The CEO of what's set to become Liberia's first commercial gold producer - Aureus Mining - examines the prospects and challenges of operating.....

Reuters Today: Top Stories and Analysis
May 17 - A look at the early action in the European markets and the day's hot stocks, as well as a final wrap-up of Asia trading......

Daily Digit: European car sales rise
May 17 - Europe's ailing car market returned to growth after 18 straight months of declines with two extra sales day compared to last year and a 15 percent boom in the UK helped new car registrations rise by 1.8 percent in April to 1.08 million. Hayl.....

KFC smugglers deliver fast food the hard way
May 17 - KFC meals are being ordered from Egypt and delivered via smuggling tunnels to the besieged Gaza Strip. Lily Grimes reports......

Ambassador to make $70m Broadway debut
After years dominating the West End, Britain's Ambassador Theatre Group is to finally make its US debut.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a8249/mf.gif' border='0'/><div class='mf-viral'>.....

Philip Clarke: Tesco is waging war on food waste, even if it means we sell less
The retail giant's CEO, Philip Clarke, says his company is in a unique position to fight the alarming amount of produce lost or thrown away by customers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a824a/mf.....

Meet the man who is betting against China
Carson Block believes China's banks hold more toxic assets than Western peers did ahead of the 2008 crash .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a8250/mf.gif' border='0'/><div class='mf-viral'&.....

Shell: oil market regulation will cost consumers
Royal Dutch Shell lobbied against proposed European rules designed to clamp down on commodity market abuse, arguing they would raise costs for consumers and increase market volatility.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

Rail fiasco adviser retiring
One of the civil servants caught up in the Department for Transport's West Coast Main Line franchise fiasco is to retire later this year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a8261/mf.gif' border='0'.....

Vodafone's decision time over US partner Verizon
Ahead of its full-year results, the telecoms group is under pressure to decide the fate of its stake in the Verizon joint venture. Christopher Williams reports<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a8.....

Fund managers fear for EU bonus cap
A group of fund managers has warned that pending European Union bankers bonus cap rules could damage a significant part of London's financial services sector.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a82.....

Dashwood: Marcus Agius and Robert Swannell bed in for big things at Chelsea
While Barclays' former chairman Marcus Agius has been sowing the seeds of banking reform in his post-Libor consultancy role, his daughter has been digging for victory.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Tesco to battle 'breathtaking' level of food waste
The chief executive of Tesco is to launch a major campaign against food waste this week, saying that the scale of the problem is "breathtaking" and that every family wastes 700 a year throwing away food.<img width='1' height='1' src='http://telegr.....

Vodafone urged to act on Verizon
Major shareholders have called on Vodafone chief executive Vittorio Colao to take action in response to Verizon's campaign to take full control of their joint venture, Verizon Wireless.<img width='1' height='1' src='http://telegraph.feedsportal.co.....

Stephen Fry backs new venture by Spitting Image veteran
Actor Stephen Fry and Peter Fluck, co-founder of Spitting Image, have invested in a new technology which creates digital, animated talking heads to broadcast spoken words to audiences over the internet.<img width='1' height='1' src='http://telegra.....

Bolland 'has backing of M&S board', says chairman
The chairman of Marks & Spencer says he is "100pc behind" chief executive Marc Bolland and his strategy despite the underperformance of the retailer's clothing business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Hotel group to the stars hunts for London site
The company behind the famous Hotel du Cap-Eden-Roc in the south of France is on the hunt for a London property to add to its portfolio.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a8275/mf.gif' border='0'/.....

The internet will revolutionise SME lending in the UK
The internet is transforming our economy and our lives. More than nine out of 10 flights are now booked online. Digital music, almost unknown a decade ago, already makes up 40pc of total sales.<img width='1' height='1' src='http://telegraph.feedsp.....

Are Waitrose and Ocado heading for a divorce?
Lawyers must be smacking their not inconsiderable lips.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1a4c5b/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td valign='.....

Help to Buy puts mortgage market at risk, says King
The Governor of the Bank of England has said there is no place for the Government's flagship scheme to help people on to the first rung of the housing ladder in the "long run".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

The UK has just had one lost decade, and is about to enter a second
Philip Aldrick considers the chilling claims of a compelling account of the challenges facing the West by HSBC's chief global economist.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c19daaf/mf.gif' border='0'/.....

Questor: Lloyds sale draws closer as incredible run keeps going
To sell, or not to sell. That is the question the Government is asking itself at the moment. For the ordinary investor, the answer is rather more simple: hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18f.....

Questor: Betfair shows resilience as takeover talks collapse
Takeover bid throws light on Betfairs turnaround ambitions. Questor says hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18fce3/mf.gif' border='0'/><div class='mf-viral'><table border='0'>&l.....

'CEOs must keep learning to avoid the five-year axe'
What can CEOs learn from bosses with real staying power?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18fce4/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><td valign=.....

As the FTSE flirts with a 13-year high, I'm optimistic - but cautiously so
Intuitively you would think it is easier to bang the drum for investing when the market is testing new highs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18fce5/mf.gif' border='0'/><div class='mf-viral.....

Markets are on a crazy, sugar-fuelled journey
'When the music stops," Chuck Prince famously observed back in mid-2007, "things will get complicated".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18fce6/mf.gif' border='0'/><div class='mf-viral'>&.....

The entrepreneurs helping small businesses find a price that's right
Three entrepreneurs hope their comparison site for small retailers will transform wholesaling.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c18fce7/mf.gif' border='0'/><div class='mf-viral'><table .....

Sir Roger Carr in line to become BAE Systems chairman
Sir Roger Carr is in pole position to become the next chairman of BAE Systems, the British defence giant, one of the most prestigious industrial roles in the country.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

MPs consider new inquiry into London listing rules after mining scandals
MPs could launch a new inquiry into the City of London's listing rules and the scandal-hit commodity companies that threaten to damage London's reputation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1791f4/.....