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Sunday 16 June 2013

UK Financial News on 2013-06-16

G8 'to make real difference' on tax
Action set to be taken at the G8 summit "will lead to a fairer tax system" and prevent companies avoiding paying their fair share, David Cameron says......

Co-op poised to unveil rescue plan
The Co-operative Bank is understood to be close to a deal with regulators to tackle the hole in its balance sheet......

'Few men' take extra paternity leave
Less than 1% of fathers are taking advantage of additional paternity leave which allows them up to 26 weeks off work, figures suggest......

Google beams internet from balloons
Google is launching an experiment to beam the internet to remote areas of the world from near space balloons......

Study shows under-employment levels
The extent of under-employment in Scotland is revealed in a study published by the Scottish government......

Energy firm urges 'petrol' pricing
One of Britain's biggest energy suppliers calls for single-unit pricing for gas and electricity to help consumers compare different tariffs......

P&O price promise offer criticised
A price promise offered by P&O cruises for those who book their cabins a long way in advance is criticised by some passengers......

VIDEO: Gulf traders hit by Iran sanctions
Iranian imports have fallen by around 50% in just one year and it is though fresh US sanctions targeting Iran's currency will make trade with the country even harder......

VIDEO: Yahoo: Mobile sector key in India
India has one of the fastest growing internet markets in the world and some estimates suggest that it could have nearly 350 million web users by 2017......

VIDEO: Times of change for workers in Saudi
A new law has been introduced in Saudi Arabia which forces companies to reserve at least 10% of jobs for Saudi nationals - in an effort to cut unemployment among locals......

VIDEO: Do we really need phone boxes?
BT is planning to remove more than 1,000 phone boxes this year. Will anyone miss them?.....

VIDEO: 'Tax havens' agree to clampdown
The prime minister has hailed an agreement by the UK's Overseas Territories and Crown dependencies to sign up to a tax evasion clampdown......

VIDEO: Call for single-unit energy pricing
One of Britain's biggest energy suppliers, EDF Energy, is calling for single-unit pricing for gas and electricity, to make it easier for consumers to compare tariffs......

When did you last use a phone box?
Who still needs phone boxes in a world of mobiles?.....

Snake robots slither to the rescue
June 16 - Researchers at Carnegie Mellon University are using snakes as a model for a series of robots that will having capabilities ranging from search and rescue operations to medical applications. Ben Gruber reports......

Pensioners face huge losses from Co-op rescue
Pensioners and other retail investors in the Co-operative Bank are facing massive losses under a 1.5bn rescue plan for the ailing mutual expected to be unveiled on Monday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/56.....

Sports data firm Opta to be sold to Perform
Sports media business Perform is in advanced talks to buy Opta Sports Data, the London-based supplier of sports statistics to broadcasters and bookies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5e69c7/mf.g.....

Urenco chief Helmut Engelbrecht knows his nukes and just how to generate cash
Helmut Engelbrecht's company has been put up for sale with a 9bn price tag. He is fully aware of the political ramifications.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5dc6b2/mf.gif' border='0'/><div.....

Coal giant Bumi seeks to lure former BP executive John Manzoni
Bumi, the scandal-hit coal miner, is looking to hire a former BP executive as its next chairman, as it tries to reposition a group riven by corruption, board infighting and a bombed-out share price.<img width='1' height='1' src='http://telegraph.f.....

Britain 'should not rely on French for new nuclear power plants'
The chief executive of Urenco, the enriched-uranium supplier put up for sale for 9bn, has rounded on the Government for allowing Britain's nuclear industry to become reliant on foreign companies.<img width='1' height='1' src='http://telegraph.feed.....

Straight up: BAE's vertical lift-off that never was
If only the now-BAE Systems-owned Hawker Siddeley had succeeded in extending its vertical take-off and landing technology to commercial aircraft, all the agonising over airport expansion could have been avoided.<img width='1' height='1' src='http:.....

The first step on the long-forgotten road to earning customers' trust
These days, it seems, everything has a "-gate". Currently it's lobbygate. A few months ago, it was Huhnegate; we've just had horsegate, while plebgate (which, aptly, did actually begin by a gate) is rumbling on.<img width='1' height='1' src='http:.....

Diageo's Paul Walsh set to chair Compass
Diageo boss Paul Walsh is expected to be named chairman of Compass.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5d64b8/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><.....

Stars snap up Walker Tower apartments at sky-high prices
In New York's heated property market, $25m (16m) apartments are not uncommon. So Verizon, the American telecoms giant, is likely to be regretting its decision to sell one of the city's most prized skyscrapers for a reported $25.25m just four years ag.....

Vodafone said to eye fresh Kabel approach
Vodafone is thought to be gearing up this week to raise its 6bn-plus takeover approach for German cable company Kabel Deutschland.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5d024c/mf.gif' border='0'/>&l.....

The pound must fall further if Britain is to have a lasting recovery
Recovery is in the air. Thank goodness. The question that is nagging me is whether it will be a healthy recovery or whether it will be more of the same old pattern of growth which, experience has taught us, flatters only to deceive.<img width='1' .....

Crunch week for banking industry
Banks dominated the headlines last week. The next five days will be no different as bank reform and the future of Lloyds Banking Group and Royal Bank of Scotland move centre-stage.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3.....

John Timpson: best way Government can help businesses is to leave them alone
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/2d5c568c/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr><t.....

Week ahead in business and economics: June 17 - 21
Aviation giant International Airlines Group (IAG) will hold its annual shareholders' meeting on Thursday in Madrid amid continuing questions over the decision in 2011 to merge British Airways with the heavily loss-making Spanish airline, Iberia.<i.....

America enjoys oil rush as world switches to other energy sources
The peak oil theory, which states that we have passed the moment of maximum global oil production, was described 40 years ago by Marion Hubbert, a former Royal Dutch Shell geophysicist. However, once again, human innovation has saved the day.<img .....

Fitch says China credit bubble unprecedented in modern world history
China's shadow banking system is out of control and under mounting stress as borrowers struggle to roll over short-term debts, Fitch Ratings has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5c5079/mf......

David Cameron: Britain's police are only 'relatively honest'
Britain only has a "relatively honest police force", according to David Cameron.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d5a41e0/mf.gif' border='0'/><div class='mf-viral'><table border='0'>.....

UK and Boeing, a 75 year history in pictures
This year marks 75 years of partnership between Boeing and the UK. Here are some of the key aircraft that have been designed and built since the British Government agreed to buy 200 Harvard training aircraft from Boeing in 1938.<img width='1' heig.....

Rajiv Bhatia's solar panel company could soon have its day in the sun
Being fired for real by TV's Lord Sugar started Rajiv Bhatia on the way to running one of Britain's fastest-growing solar power companies.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d58e8fa/mf.gif' border='0.....

Dreamliner's woes are just a spot of turbulence, says Boeing boss Jim McNerney
Boeing boss says lessons learnt over its troubled plane will pay off.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d58e8fb/mf.gif' border='0'/><div class='mf-viral'><table border='0'><tr>&.....

Here we go ... snortin' all over the world
The lead singer and guitarist of Status Quo has admitted spending the equivalent of 1.69 million in today's prices on cocaine during the height of the band's success.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

Dashwood: City night-owls pay 640k for Mayfair's most private party
Nightclub entrepreneur Robin Birley's latest members' club, 5 Hertford Street, is replacing Richard Caring's Annabel's in the business elite's affections - and early profits are "encouraging".<img width='1' height='1' src='http://telegraph.feedspo.....

'After 50 years, Lloyds is selling me to another bank'
Lloyds is splitting off 600 branches into a separate bank called TSB. Customers are going too - and they're not happy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d58de04/mf.gif' border='0'/><div class=.....

Time to remove the foreign-aid ring fence
Telegraph View: While UK government departments face substantial cuts, our foreign-aid budget has become the second largest in the world<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d58de07/mf.gif' border='0'/.....

The rise of 'retired' workers
Emma Simon looks at why there are now more than a million people working past the age of 65 .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2d58de06/mf.gif' border='0'/><div class='mf-viral'><table b.....