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Sunday 19 May 2013

UK Financial News on 2013-05-19

Yahoo 'to buy Tumblr for $1.1bn'
Yahoo's board approves a deal to buy New York-based blogging service Tumblr for $1.1bn (725m), US media reports say......

Bank governor in Help to Buy warning
The outgoing Bank of England governor warns a government plan to boost the housing market with part-mortgage guarantees has no long-term place......

Google chief defends tax affairs
Google's executive chairman Eric Schmidt defends the company's tax affairs after it comes in for strong criticism from MPs......

Miliband pledge on tax avoidance
Labour leader Ed Miliband says he will write new rules to tackle corporate tax avoidance if he wins the next election, even without international agreement......

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......

Treasury claims banks 'safer in UK'
The latest UK government paper on the impact of Scottish independence will claim the UK is better placed to manage the risk of a financial crisis......

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......

Thousands rally to oppose Italy cuts
Tens of thousands of protesters, led by trade unionists, rally in the Italian capital Rome against the policies of the new coalition government......

VIDEO: Former Google employee on tax deals
A former Google employee has said he is providing evidence to the tax authorities about how the internet giant avoided paying corporation tax in Britain by using its offices in Dublin to finalise deals......

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

China's global ambitions
How will China spend its massive cash reserves?.....

Technologists say apps can aid in Asia
May 19 - Tech innovators and app designers attending the recent "Apps For Asia - Redesigning Development" programme in Uttar Pradesh, say technology holds the answer to many of Asia's poverty-related problems. The programme was created by the Asian D.....

Let's boycott this needless tax that would cripple markets and keep Europe in the slow lane
Europe has a growth problem: the International Monetary Fund has warned of a three-speed world economy, with the eurozone losing further ground to the United States and emerging economies.<img width='1' height='1' src='http://telegraph.feedsportal.....

France has been ignoring its problems, now the chickens are coming home to roost
It is too early to be sure that the UK economy is finally emerging from the doldrums but the early signs look promising.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c220b2c/mf.gif' border='0'/><div clas.....

Week ahead in business and economics: May 20 - 24
First Group, the transport giant, is expected to start the firing gun on a rights issue of up to 600m this week to ease concerns over its balance sheet.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c220b2d/mf......

Commodities: Gold may have lost its shine for investors but jewellery lovers still rush in
It was not immediately obvious what the silver lining - or should that be golden lining - to the latest headline figures from the World Gold Council (WGC) might be.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

The Tories must water these green shoots
Telegraph View: The economy and the narrative are starting to turn the Tories' way. They need to take advantage<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c21c4b6/mf.gif' border='0'/><div class='mf-vir.....

Property developer 'trapped in China' after joint venture goes sour
A property developer has claimed that he and his family are being prevented from leaving China.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c214935/mf.gif' border='0'/><div class='mf-viral'><table.....

How the Mormon city won over Goldman Sachs
The Utah city has proved fertile ground for Goldmans, reports Katherine Rushton.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c20dbcd/mf.gif' border='0'/><div class='mf-viral'><table border='0'>.....

Bernie Ecclestone discloses F1 backing
Bernie Ecclestone, the head of Formula One, has disclosed that the board of the motor racing group has given him its full support amid claims the F1 commercial rights holder is facing bribery charges in Germany.<img width='1' height='1' src='http:.....

Royal Mail set to deliver bumper profits on back of online shopping boom
The online shopping boom has helped Royal Mail deliver bumper profits which are expected to be as much as double last year's.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c20cf40/mf.gif' border='0'/><div.....

Yahoo! agrees to buy Tumblr for $1.1bn
The US web giant Yahoo! is to buy Tumblr in a $1.1bn (720m) deal that will net the the founder of the blogging network a $250m fortune at the age of just 26.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c20cd6.....

Tyrrells crisps 'for sale for 100m'
Tyrrells, the premium crisps brand, is reportedly up for sale for 100m with international food giants vying to take control.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c202e49/mf.gif' border='0'/><div .....

Google chief Eric Schmidt criticises politicians over tax row
Google executive chairman Eric Schmidt has urged the Chancellor to lead reform of the international tax system after his company was savaged by MPs for avoiding billions in British taxes.<img width='1' height='1' src='http://telegraph.feedsportal......

Mervyn King warns against 'demonising individuals' over banking failures
The outgoing Governor of the Bank of England says the banking sector was given "far too much status and standing in society" but cautions against blaming individual bankers.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/.....

Germans blame eurozone crisis for Eurovision flop
Germans put their poor Eurovision showing down to Chancellor Merkel's tough stance in the eurozone crisis.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c202471/mf.gif' border='0'/><div class='mf-viral'&g.....

BIS and IMF attacks on quantitative easing deeply misguided warn monetarists
Monetarists across the world warn that the International Monetary Fund and the Bank for International Settlements are making an historic error by calling for a withdrawal of emergency stimulus before a full global economic recovery.<img width='1' .....

Sir Mervyn King: stop 'demonising' bankers
Sir Mervyn King, the outgoing head of the Bank of England, has called for an end of banker bashing saying it's wrong to "demonise individuals" for the failure of the financial system.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

Miliband promises action on Google tax avoidance
Labour leader Ed Miliband has said he will write new rules to tackle corporate tax dodgers if he wins the next election even if there is no international consensus for action.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

How insurers' tricks catch you out
Telegraph Money receives far too many complaints about insurance, says Andrew Oxlade.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1d2683/mf.gif' border='0'/><div class='mf-viral'><table border='0.....

How does the Post Office rate as our newest bank?
Money MoT special: We analsyse all the products - mortgages, cards, current accounts - offered by the new entrant in banking.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1d2684/mf.gif' border='0'/><div.....

Taxman's mood is on the mend
Staff morale at HM Revenue & Customs is improving from "rock bottom levels" according to a tax information group.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1c693d/mf.gif' border='0'/><div class='.....

Energy bills 'could overtake mortgages in five years'
Energy bills are rising so steeply that they could overtake mortgage repayments in parts of Britain in just five years' time, the chief executive of supplier, First Utility, has claimed.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

UK exporters look beyond sluggish EU
UK exporters are opting for fast-growing markets, "side-stepping" the debate on an in/out referendum.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2c1acee5/mf.gif' border='0'/><div class='mf-viral'><.....

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'&.....