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Saturday 10 August 2013

UK Financial News on 2013-08-10

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......

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......

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......

Vacation working for travel biz
Aug. 09 - Priceline's strong results are bringing new attention to the online travel business, which despite the rocky economy, continues to grow. Bobbi Rebell reports......

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 private, 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.....

Lord Sugar in 10m 'mis-selling' complaint against Lloyds
Lord Sugar has become the most prominent business owner to emerge as a potential victim of the mis-selling of interest rate hedging products by Britain's major banks.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/.....

I warn you, Mr Carney - a housing bubble is coming
Like missing penalties, drinking tea and listening to The Archers, home ownership is a peculiarly British obsession that is hard to explain to outsiders.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd272d/sc.....

Gold miner faces squeeze
Peter Hambro's gold miner Petropavlovsk has become the most shorted company in the FTSE All-Share index as investors bet that the falling gold price will reduce the value of the business.<img width='1' height='1' src='http://telegraph.feedsportal......

Diageo plans 15m fund to find new hit
Diageo is to offer to invest an initial 15m in small spirits makers in the hope of finding the next Ciroc, its successful high-end vodka brand.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2730/sc/2/mf.gif'.....

RBS bank bidder reveals deal CEO
Mike Fairey, the former deputy chief executive of Lloyds TSB, is to co-lead AnaCap and Blackstone's bid for the Royal Bank of Scotland's "Project Rainbow" business.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Prudential set to raise dividend as Asia boosts profit
Prudential is to reveal an increase in its dividend payment to investors, with profits for the Asia-focused insurer expected to climb to 2.17bn for the first six months of the year.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

Bernard Madoff: the inside story of an obsessive control freak who fooled the world
Court transcripts reveal how a man cracked as his 12bn Ponzi scheme blew up, writes Harriet Dennys .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2733/sc/38/mf.gif' border='0'/><br clear='all'/><.....

Rivals vie for 2.8bn smart meter contracts
Britain's biggest telecoms and outsourcing companies are vying for 2.8bn of contracts crucial to the Government's plan to install a "smart" energy meter in every home by 2020.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/.....

Cameron urged to 'remain in EU project'
One of David Cameron's key business supporters has said that Britain should remain in a reformed European Union or put at risk one of the country's most important relationships.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Cable: RBS sell-off 'five years away'
Vince Cable, the Business Secretary, has signalled that the Royal Bank of Scotland will be in public hands for another five years, increasing the chances it will be broken up before it is re-privatised.<img width='1' height='1' src='http://telegra.....

Mark Carney is banking on you to keep spending
Will "forward guidance" lead to another credit explosion? Unlikely, says Philip Aldrick.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2736/sc/25/mf.gif' border='0'/><br clear='all'/><div class='.....

Sunday interview: Sir Paul Ruddock
Hedge fund manager defends sector against charges of short selling for quick profits, reports Kamal Ahmed .<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2737/sc/25/mf.gif' border='0'/><br clear='all'/.....

US prepares to charge London bankers in JP Morgan trades case
Two London-based bankers could face US charges over their alleged role in the $6bn (3.9bn) "London Whale" trading scandal at JP Morgan Chase.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2461/sc/30/mf.gif' .....

Roger Whiteside is cooking up a new recipe for Greggs
The food group's new chief executive tells Graham Ruddick about his expansion plans<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2466/sc/19/mf.gif' border='0'/><br clear='all'/><div class='mf-vi.....

New dragon promises deals will be authentic
New Dragons' Den star Piers Linney insists that investments are carefully considered and that he aims to broaden its scope to more ambitious ventures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd246b/sc/21.....

New extradition row due in 'London Whale' bankers case
A new extradition row is set to be ignited over plans to arrest two London-based bankers on behalf of US federal prosecutors and the FBI.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2471/sc/30/mf.gif' bord.....

Inflation still above target despite fall
Headline inflation in the UK remains well over the target set for the Bank of England, official figures are expected to show this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd2478/sc/25/mf.gif' border.....

Brewdog founders turn to the public to ferment growth
Brewdog's Equity for Punks scheme has eliminated the need for venture capitalists to help growth, writes Edwin Smith.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcd247a/sc/24/mf.gif' border='0'/><br cl.....

The new Governor has to choose: pussycat or tiger?
Tiger or pussycat? Mark Carney, the new Governor of the Bank of England, has certainly shaken things up. But what kind of animal is he?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fccddfd/mf.gif' border='0'/&.....

Zero hours are bad? Don't talk such nonsense
At the height of last week's national debate on the use of so-called zero-hours contracts, the BBC interviewed the owner of a small business who employed several members of staff on such arrangements. She was asked to imagine what it felt like not to.....

Investing is simple - if you can overcome your instincts
The longer I have studied investment markets, the more I have realised that investing is simple, but not easy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fccde0b/sc/22/mf.gif' border='0'/><br clear='al.....

Reduce costs and provide a better service
'How come you have the lowest cost income ratio and also the best customer service," a journalist asked the chief executive of Danish bank Handelsbanken in the mid-1990s. "I'm afraid I don't understand the question," was his mischievous reply.<img.....

City economists say eurozone recession is 'over'
The eurozone has exited its longest recession since records began, official figures are expected to show this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcb454a/sc/2/mf.gif' border='0'/><br clear.....

Chinese ship sets sail for Northeast Passage
Chinese cargo ship forges maiden voyage to Europe through Arctic, marking new "short cut" Beijing hopes can spur trade with the West.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcb454b/sc/2/mf.gif' border='0.....

Mark Carney's curse: three more years of savings famine
With the bank rate staying at 0.5pc, savings rates will of course remain low, but there are some ways to stay ahead of the pack.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fc8fdf1/sc/25/mf.gif' border='0'/&g.....