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Friday 9 August 2013

UK Financial News on 2013-08-09

Apple victory in Samsung patent case
Apple has won a key patent case against rival Samsung which could see Samsung phones blocked from the US market......

'Tax fugitives' list debate deepens
The UK's tax authority defends the results of publishing a most-wanted list of alleged fraudsters and tax evaders amid criticism from Labour......

Tesco in talks with China Resources
China Resources Enterprise is in talks with the UK retailer Tesco about merging their hypermarkets and supermarkets in China......

UK trade gap shrinks as exports rise
The UK goods trade deficit shrank to its smallest amount in almost a year in June, official figures have shown, helped by a rise in exports......

Blackberry shares jump on deal talk
Blackberry shares soar in New York after a report says the company is considering buying out its shareholders......

Greece catches tax cheat firms
In its most recent round of spot checks Greek investigators find that almost half of the firms investigated were committing some kind of tax offence......

Publishers fight Apple e-book ruling
Five major publishers are challenging restrictions imposed on Apple after it was found guilty of e-book price-fixing......

Hotel deal could see more discounts
Cheaper hotel rooms could be offered by booking websites after an investigation by the Office of Fair Trading into agreements between hotels and online travel agents......

Carlos Slim firm bids for KPN stake
America Movil, owned by the world's richest man Carlos Slim, offers 7.2bn euros for the 70% of Dutch telecoms company KPN it does not already own......

China data points to end of slowdown
Latest economic figures suggest China's economy is stabilising, with stronger-than-expected factory output and consumer prices holding steady......

India in new steps to boost rupee
India's central bank announces new measures to reduce volatility in currency markets and support the weakened rupee......

China sacks top economic official
Liu Tienan, a former top economic official in China, is expelled from the Communist Party and removed from public office, state media report......

News Corp Australia chief resigns
The chief executive of Rupert Murdoch's News Corp Australia, Kim Williams, resigns after 20 months in the job......

London Market Report
Positive data from China gives mining stocks a lift, helping to pull the FTSE 100 higher......

Passengers accuse BA on faulty plane
Passengers accuse British Airways of putting lives at risk after a Riyadh to London plane made two emergency landings with the same fault......

Insurer reports record savings
Edinburgh insurer Standard Life reports record long-term savings with half-year operating profit throughout the group up 6%......

Buy-to-let lending 'tops 5bn'
Buy-to-let lending in the UK has hit its highest level for nearly five years, lenders say, reaching 5.1bn in the second quarter of the year......

International students pay premium
Students from outside the EU will pay up to four times the fees charged to UK students next year suggests a survey......

Workers sticking with new pensions
Fewer than one in 10 workers have opted out of being automatically signed up to saving for a pension, government figures show......

Carney: New plan should boost growth
Bank of England governor Mark Carney tells the BBC that giving guidance on future interest rates should boost economic growth......

Greek jobless rate hit record high
The unemployment rate in Greece rose to another record high in May, hitting 27.6%, according to the country's statistics body......

China trade data beats expectations
Chinese exports and imports rose more than expected in July, a sharp recovery from the previous month......

Hearts fans' group lead bidder race
Fans' group the Foundation of Hearts are front runners to be named preferred bidder for the administration-hit club......

VIDEO: Do you owe capital gains tax?
The tax office is clamping down on people who owe capital gains tax from selling a second home - and more people are liable than you might have realised......

VIDEO: Massive city of Syrian refugees
Zaatari refugee camp in Jordan is home to more than 120,000 migrants who've fled the conflict in neighbouring Syria. The camp has grown so big it has an internal economy all of its own.....

VIDEO: Samsung and Apple battle rumbles on
In the ongoing legal battles between smartphone rivals Samsung and Apple, a lot is at stake for both companies. Mariko Oi reports from New York......

VIDEO: Opening a sex shop in China
Entrepreneur Ma Jiajia describes the challenges of opening a sex shop in China, where sex is not a common topic of conversation......

AUDIO: Millions graduate to 'not enough jobs'
A record seven million students in China graduated from university this year, but for many their high hopes are being crushed by the country's economic slowdown......

VIDEO: Most-wanted 'tax evaders' at large
Just one of the UK's 20 most-wanted alleged fraudsters and tax evaders named on a government list last year has been caught, it has emerged......

AUDIO: Today programme business round-up
The Today programme's business news with Simon Jack including reports from HM Revenue and Customs that only one of the UK's 20 most-wanted alleged fraudsters and tax evaders named on a government list last year has been caught......

VIDEO: 'I'm looking in bin to find food'
Greek people are facing increasing unemployment, with 27.6% of the country without a job in May......

The pill that texts you - from inside
The pill that tweets and texts - from your tummy.....

Taking decisions is tough at the top
How do you go about making tough calls when you're the boss?.....

The Pirate Bay survives to turn 10
The legacy of the world's most notorious file-sharing site.....

Will Nairobi fire hit Kenya's economy?
Will airport fire damage Kenya's key tourism and flower sectors?.....

Boardroom imbroglio
Aug 9 - The week on Wall Street comes to a close with public infighting between J.C. Penney board and directors at BlackBerry mulling the idea of going public, according to sources. Conway G. Gittens reports......

U.S. Week Ahead: Retailers to see rebound in results
Aug 9 - Retailers including Macy's, Nordstrom and Walmart report earnings next week. Sales are expected to be higher than the quarter before thanks to back-to-school sales......

Priceline has quietly been doing a very good job- Kessler
Aug 09 - S&P Capital IQ's Scott Kessler says Priceline has had a quiet but steady comeback- and is one of several companies in the online travel space doing better than many expected. Bobbi Rebell reports......

MuniLand: Detroit effect could delay more bond deals
Aug 9 - Wells Fargo Securities' senior analyst Natalie Cohen says the delayed Saginaw County pension bond deal following Detroit's bankruptcy will likely not be the last Michigan deal that gets postponed......

Breakingviews: Twist in TVs plot
correspondent Liana Baker about how Time Warner Cables fight with CBS reflects a broader shift in televisions economic landscape......

Techquity: Expect a big writedown for Yahoo
Breakingviews Columnist Rob Cyran gives his take on Yahoo's costly acquisition, Priceline's success and more......

Trading at Noon: Blackberry may go private to stay private
report, sources say CEO Thorsten Heins and board may be leaning towards taking Blackberry private to fix the smartphone makers problems out of the public eye......

Tesco gives up cracking China alone
Aug. 9 - British supermarket firm Tesco is to fold its unprofitable operation in China into a state run company as a minority partner. As Kirsty Basset reports, it comes nine years after the company set out to crack China on its own......

BlackBerry open to going private
BlackBerry is considering going private to fix its problems. Fred Katayama reports......

Mind-controlled exoskeleton could help paralysed people walk
Aug. 9 - Researchers in Europe are developing a mind-controlled exoskeleton that will allow people with paralysis to walk. The technology is in its infancy but in five years could begin to replace wheelchairs for people with severe spinal injuries. M.....

Europe Week Ahead: Datas the name of the game
Aug. 9 - With August calmer, market focus is on good, old fashioned data: euro zone GDP, German ZEW, GB unemployment. Also, BoE mins and E.On and GlencoreXstrata earnings......

UAE's pearl industry to shine once more?
August 9 - A pearl farm in the UAE is trying to revive the industry, in the hope of making the emirate a top pearl producer once more. Edward Baran reports......

Obama praises Greece's economic reforms
August 9 - U.S. President Barack Obama praises Greek Prime Minister Antonis Samaras' "bold and difficult actions" to reform Greece's economy, a day after Greek unemployment hit a new high. Rough cut only, no reporter narration......

U.S. Morning Call:BlackBerry open to going private-Exclusive
Aug 9 - BlackBerry is warming up to the possibility of going private, as the smartphone maker battles to revive its fortunes, according to sources......

Market Pulse: U.S. shale boom only barrier to oil spike -IEA
Aug. 9 - Better-than-expected Chinese data helps oil to snap a five day slide, and only the U.S. shale boom stands in the way of a major price spike for crude, says the IEA......

Breakingviews: Tesco's Chinese retreat
Aug. 9 - Tesco, the world's third biggest retailer, folds its Chinese stores into a joint venture with state-run CRE. A disappointing but realistic move, says Breakingviews......

Earnings promise silver lining for fretting China investors
Despite an uncertain outlook for the world's number 2 economy, the upcoming earnings season could provide a pick-me-up for battered markets. Tara Joseph looks at some of the bright spots......

Reuters Today: So much for a China slowdown?
Aug. 9 - Better-than-expected inflation and industrial output data calm fears of a China slowdown......

Novozymes CEO: flat ethanol volumes not a worry
Aug. 9 - The CEO of Novozymes is confident the group can grow despite flat ethanol volumes in the U.S. and says its second-generation products will make money in the latter half of this decade......

Pay by face? UK trials payment app
August 9 - Paypal is trialling a new payment system which allows consumers to leave their wallets at home and pay for goods - using their face. Joanne Nicholson test runs the potentially game changing smartphone app and looks at the security implicat.....

Priceline beats; Stocks end down streak
Aug. 8 - Summary: Priceline tops forecast after the bell; Wall Street stops slide as T-Mobile, Tesla earnings shift focus away from Fed speculation. Conway G. Gittens reports......

Teen angst for retailers
Aug. 8 - Forget the free spending teens of the past- retailers have to sell to today's post-recession teens- who are watching both their parents money and their own. Bobbi Rebell reports......

U.S. Day Ahead: Apple, Samsung patent war continues
Aug 8 - Apple and Samsung are battling each other in courtrooms around the world over patents. Friday, the U.S. Federal Court will hear Apple's plea in the long-running patent case......

Daily Digit: Tesla's Musk $622 mln pay day
Aug 8 - Tesla CEO Elon Musk is $622 million wealthier thanks to his stake in the electric car maker one-day after quarterly results topped expectations. Conway G. Gittens reports......

Techquity: Upside for Microsoft, says analyst; Groupon zooms
Aug 8 - Microsoft gets an upgrade while Groupon jumps on positive results......

Sajid Javid: Labour would wreck the economic recovery
The economy is finally recovering, but Labour would borrow more and drive up interest rates, says Sajid Javid<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc5eb5a/sc/25/mf.gif' border='0'/><br clear='all.....

Treasury: UK economy has regained 'momentum'
UK economy has 'regained momentum' and full-blown recovery is now underway, Treasury minister claims.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc5eb5b/sc/25/mf.gif' border='0'/><br clear='all'/>&l.....

Shale gas explorers face six month permitting delay
David Cameron's plans to kick-start shale gas fracking faced a fresh setback after the environmental regulator said explorers could face a six month wait to secure permits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Precious metals sparkle again on cheer from China
Precious metal miners led the FTSE higher on Friday on stronger Chinese factory data.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc5cfd2/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-v.....

Shale is fuelling a global revolution
The energy revolution, fuelled by shale, is already having profound consequences on Opec.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc5426d/sc/30/mf.gif' border='0'/><br clear='all'/><div class=.....

What made London Olympics so great? Our taxis
Chinese city buys 500 black cabs for Youth Olympic Games next year to make it as successful as UK event.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc53f37/sc/19/mf.gif' border='0'/><br clear='all'/>.....

House prices 'at new record' aided by state measures
House prices across England and Wales hit an all-time record in July, aided by Government interventions in the housing market, according to a new report.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc53888/sc.....

Business news and markets: as it happened, August 9, 2013
Biggest exit from US Treasury bond funds on record as investors continue switching from bonds to equities in so-called "Great Rotation".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc44a89/sc/2/mf.gif' border.....

Bankrupt Detroit finds $1m cheque in city hall drawer
Largest US city ever to file for bankruptcy received payment from school system but never deposited it.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc44769/sc/24/mf.gif' border='0'/><br clear='all'/>.....

Business news and markets: live
Biggest exit from US Treasury bond funds on record as investors continue switching from bonds to equities in so-called "Great Rotation".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fbed42d/sc/2/mf.gif' border.....

The sun is shining on the global economy - but we could still get burned
Perhaps all this nice weather we have been enjoying has gone to my head - or, better still, to everyone else's too - but there appear to be more and more signs of economic recovery in a number of developed Western economies, including the UK's.<im.....

From manure to court battles... the customers who fought back
Dmitry Argarkov rewrote his credit card contract and is suing his lender for millions. He's just the latest in a line of angry - and ingenious - customers who take on their banks.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32.....

The customers who fought back
Dmitry Argarkov rewrote his credit card contract and is suing his lender for millions. He's just the latest in a line of angry - and ingenious - customers who take on their banks.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32.....

Greek deputy PM says UK has become top destination for tax avoiders
Evangelos Venizelos says London has replaced Switzerland as the destination for wealthy Greeks looking to avoid Greece's tax rates.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc2ce3c/sc/24/mf.gif' border='0'.....

Political unrest could contstrain OPEC exports 'indefinitely', says IEA
America's shale oil boom is protecting the world from steep oil price spikes as several OPEC members struggle to maintain production due to unrest and infrastructure problems, the International Energy Agency has said.<img width='1' height='1' src=.....

NS&I reduces rates again hitting 90,000
Customers with Savings Certificates taken out before 1996 will see their interest rates change, with many falling.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc38996/sc/4/mf.gif' border='0'/><br clear=.....

1,000,000,000,000,000 - the size of Japan's national debt
Japan's eye-watering national debt has topped one quadrillion yen, official data showed Friday, a record figure that underlines Tokyo's struggle to curb its huge borrowing.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Devaluing the pound will not lead to a 'race to the bottom'
A weaker pound will not make us worse off, argues John Mills.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc1c6e6/sc/7/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table borde.....

Lord Browne to become director of listed Riverstone company
Lord Browne of Madingley, the former BP chief executive, is to return to the London stock market with a board seat on Riverstone Holdings' new listed energy company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s.....

Hotel bookings could get cheaper as tourism giants propose remedy in price-fixing row
Hotel bookings could get cheaper after three major firms at the centre of a price-fixing probe outlined proposals to limit the practice.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc1c6ef/sc/2/mf.gif' border.....

PayPal smartphone app could replace credit cards
PayPal's head of retail services says a payment system that recognises customers by their first name and picture via a mobile phone app will let consumers leave their wallets at home.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

PayPal app 'the future of money'
PayPal's head of retail services says a payment system that recognises customers by their first name and picture via a mobile phone app will let consumers leave their wallets at home.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

BlackBerry 'considers putting itself up for sale'
Struggling smartphone maker may throw in the towel and consider offers as its turnaround falters<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc10ac0/sc/5/mf.gif' border='0'/><br clear='all'/><div .....

BlackBerry 'considers putting itself up for sale'
Struggling smartphone maker may throw in the towel and consider offers as its turnaround falters<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc106aa/sc/5/mf.gif' border='0'/><br clear='all'/><div .....

Rebalancing hopes helped by strongest exports on record
Britain's goods exports hit a record high of 78.4bn in the three months to June as sales to countries outside Europe raced ahead, delivering recovery hopes another boost.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....