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Sunday 11 August 2013

UK Financial News on 2013-08-11

UK wages drop among worst in Europe
Wages in the UK have seen one of the largest falls in the European Union during the economic downturn, according to official figures......

Cable: RBS share sale five years off
The taxpayer's 81% stake in Royal Bank of Scotland will not be sold off in the next five years, according to Business Secretary Vince Cable......

France: No change to 2013 forecasts
France's finance minister denies that the eurozone's second-biggest country has revised down its economic prospects for 2013......

VIDEO: Ireland mulls salmon farm plan
Controversial plans to build a huge salmon farm off the west coast of Ireland are being considered by the government in Dublin......

Felixstowe offers cheaper gateway into UK says study
Britain's biggest container port, Felixstowe, has played down the threat from the new London Gateway terminal after a study claimed it can handle each box for 26 less than its rival.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

Amec defends Sellafield nuclear clean-up record as 22bn contract hangs in balance
Amec claims to have delivered "good value" despite failings.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd401b8/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table border.....

Q&A: How communities could reap benefits from shale gas fracking
Energy companies promised communities near shale gas fracking benefits worth 10m over 25 years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd401bc/sc/29/mf.gif' border='0'/><br clear='all'/><div .....

Why I think Mr Carney could raise interest rates as early as next year
Mark Carney, the new Governor of the Bank of England, made his first big move last week. He put UK monetary policy on auto-pilot.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd401bd/sc/25/mf.gif' border='0'/&.....

Referees may be unpopular but ultimately it is the consumer who benefits most from merger control
'It is a bit like in a sport. Nobody likes the referee. It doesn't matter whether they do a good job or a bad job they never get thanked,' Roger White, Chief Executive of AG Barr, was quoted as saying in June, referring to the Office of Fair Trading'.....

Making staff reapply for jobs is little more than a box-ticking charade
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/2fd401bf/sc/4/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table bo.....

Cash-strapped motorists feel the pinch of rising fuel costs
Motorists believe they are spending almost 15 a month more on fuel than a year ago, according to research.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd401c1/sc/2/mf.gif' border='0'/><br clear='all'/&g.....

Victims of Greek bail-out get chance of class action
Aggrieved investors who lost tens of billions of euros in Greece's bail-out are being given the chance to bring class actions in America and Europe after a landmark deal between two US law firms.<img width='1' height='1' src='http://telegraph.feed.....

Week ahead in business and economics: August 12-16
Prudential Asia prospects brighten outlook for insurer's investors<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd1c150/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table .....

Dashwood: Mark Carney goes into the wilderness for 'rejuvenating' music festival
Bank of England governor Mark Carney is letting his hair down at the Wilderness music festival in Oxfordshire.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcedc25/sc/25/mf.gif' border='0'/><br clear='al.....

Investors more worried about falling pound than inflation
Private investors say the weakness of the pound is one of their biggest concerns, a report has found.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fd401c3/sc/24/mf.gif' border='0'/><br clear='all'/>&l.....

Questor share tip: Legal & General dividend boost is welcome
Legal & General dividend forecasts could be conservative, but Questor says hold.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fcee8fe/sc/25/mf.gif' border='0'/><br clear='all'/><div class='mf-v.....

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' .....