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Thursday 15 August 2013

UK Financial News on 2013-08-15

Hot weather boosts July retail sales
Retail sales in the UK jumped by 1.1% between June and July, boosted by hot weather and adding to hopes of a sustained economic recovery......

New home starts in England up 6%
The number of new homes being built in England rose by 6% in the three months to June, according to government figures......

Ikea warns of unsafe children's beds
The furniture chain Ikea is recalling thousands of children's beds, because of a design fault......

Virgin Media strikes deal with BT
BT has struck a deal with Virgin Media to make its new sports channels available to the cable operator's subscribers......

Dell reports sharp fall in profits
PC maker Dell - currently in the midst of a battle over its future - reports a sharp fall in quarterly profits......

Police warning over fracking demo
Police expect 1,000 extra anti-fracking activists to join existing protests at the West Sussex village of Balcombe this weekend......

London Market Report
London shares fall sharply, after strong retail sales figures stoke fears that interest rates may rise sooner than previously thought......

Smartphones outsell basic handsets
Smartphone sales exceed feature phone sales for the first time in the April-to-June period, according to research firm Gartner......

US consumer inflation rises to 2%
The pace of US consumer price inflation increased in July, pushing the annual rate of inflation to 2% - the rate targeted by the Federal Reserve......

Norway gas exports to UK disrupted
Norwegian gas exports to the UK are disrupted following a loss of power at a platform in the North Sea......

Wal-Mart cuts its sales forecast
The world's biggest retailer, Wal-Mart, which owns the UK chain Asda, revises down its sales expectations for the year......

Washington Post and CNN hit by hack
Washington Post, CNN and Time magazine are affected by a hack carried out by supporters of Syrian President Bashar al-Assad......

Strike at Chilean copper mine ends
Some 2,500 workers at Chile's Escondida copper mine return to work after a 24-hour stoppage over pay, but say operations may be halted again......

Boeing to probe new Dreamliner fault
Boeing says it will investigate the wiring defect found in a fire extinguisher system on three of its 787 Dreamliner jets operated by All Nippon Airways......

China Mobile says profits up 1.5%
China Mobile, the world's biggest phone company, says profits rose more than expected in the first half of 2013 from last year ......

Blockbusters boost Cineworld takings
The UK's biggest cinema chain, Cineworld, says big blockbusters helped boost its box office receipts by 10.5% in the first half of the year......

AEG 'to dominate London gig venues'
AEG is on course to take over management of Wembley Arena, giving the firm control of three of the four largest indoor venues in London......

Red Bull ends dispute with brewery
Energy drink producer Red Bull ends its dispute with the Norwich micro-brewery which has a similar name......

UK unemployment falls back slightly
UK unemployment falls by 4,000 in the three months to June to 2.51 million, according to the Office for National Statistics (ONS)......

Seven charged in currency firm case
Seven people are charged by police investigating the collapse of a foreign currency exchange business in Cornwall......

EU 'plans single telecoms regulator'
The European Commission is thought to be considering a plan for a single telecoms regulator to cover all 28 member states......

Brazil backs oil royalties bill
Brazil's Congress passes a bill designating all royalties from newly discovered oilfields to education and healthcare......

Legal & General in home renting move
Insurer Legal & General aims to become a major landlord in the UK's housing market, in an effort to redress what it calls "intergenerational injustice"......

Eurozone comes out of recession
The eurozone has emerged from recession after 18 months of economic contraction, figures indicate......

Concern over World Cup venue delays
Brazilian Sports Minister Aldo Rebelo says the pace of construction must be accelerated if stadiums are to be ready on schedule for the 2014 World Cup......

AUDIO: 'Choose apprenticeships - not Uni'
Spencer Mehlman - author of website 'Not Going to Uni' urges students to have another look at the apprenticeship route......

VIDEO: Is 5.5 billion good for football?
With increased revenues of as much as 5.5 billion from the sale of television broadcasting rights, there's more money in the game than ever before - but is it good for the game?.....

VIDEO: Economic impact of Egypt violence
The BBC's Simon Atkinson looks at the economic impact of the latest violence in Cairo, on both Egyptians and the wider region......

VIDEO: A bumper year for lavender
For several British lavender farmers, 2013 is proving to be a vintage year......

VIDEO: Downturn: Dutch housing bubble bursts
The Netherlands is struggling with the bursting of a real estate bubble, on a scale only seen in the United States and Spain......

VIDEO: Egypt clashes raise energy fears
There are concerns that further instability in Egypt could affect the Suez Canal, which is a crucial trade route for Asia and transports oil from the Middle East......

AUDIO: Today programme business round-up
The Today programme's business news with Andy Verity including a look ahead to the official figures out on Thursday which will show what was sold in the shops in July......

VIDEO: Worry over Australia asylum moves
Political parties in Australia have promised tough measures to stem the flow of asylum seekers, but many of those who have settled there think the policies are bad for business......

Can art change Margate's fortunes?
Can Margate become the poster town for regeneration?.....

Falling prices hit Dutch homeowners
Dutch homeowners stuck in negative equity.....

The death of the drive-in cinema?
Why changing technology threatens the classic US night out.....

A new frontier in the battle for the green belt
The problem of finding space to build new homes.....

Is there any such thing as 'road tax'?
Do motorists or cyclists pay more for the roads?.....

Wall Street suffers a nervous breakdown
Aug. 15 - Stocks had their worst day since June as soggy outlooks from Wal-Mart and Cisco, rising bond yields, and worries about Federal Reserve stimulus proved too much for investors to deal with all at once. Conway G. Gittens reports......

U.S. Day Ahead: Housing starts to build on prior gains
Aug 15 - U.S. housing starts, seen as a critical gauge of the recovering housing market in particular and the economy as a whole, are expected to continue their upward trend......

Wal-Mart's worries could whack retail
Aug. 15 - Wal-Mart's sales slump could be an early indicator of bigger problems for the retail sector- as consumers around the globe shy away from anything they don't absolutely need. Bobbi Rebell reports......

Techquity: Network troubles, less joy in Facebook says study
Aug 15 - Cisco announces job cuts while a study finds Facebook use leads to greater life dissatisfaction......

3D foot scanner reveals health risks for high-heel fashion slaves
Aug. 15 - It's long been known that women who wear high-heels on a daily basis risk ankle and foot damage but now medical specialists can show high-heel wearers exactly how the shoes are impacting their health. A new 3D scanner at the Royal Orthopaed.....

Wal-Mart still a good core holding: Joe Feldman
Aug. 15 - Telsey Advisory Group's Joe Feldman explains why despite Wal-Mart's earnings miss-he still believes it should be a core holding. Bobbi Rebell reports......

Daily Digit: Interest rates spike to 2-yr high
Aug. 15 - Yields on the 10-year note spiked to 2.8 percent, threatening to pull mortgage rates higher and housing demand lower. Conway G. Gittens reports......

Trading at Noon: All that glitters is not gold, see Sprint
Aug 15 - Fund managers bought shares in Sprint, but many reduced their exposure to gold, according to the latest 13F filings with the SEC......

Breakingviews: RT @Google #IPO
Aug. 15 - Antony Currie and Breakingviews columnists discuss the possibility of Twitter going public and why the social networking site should consider adapting the IPO process Google used......

Warren Buffett goes on a diet
Aug. 15 - Billionaire investor Warren Buffett sold majority stakes in some food companies but boosted his exposure to GM and Wells Fargo. Fred Katayama reports......

Europe Day Ahead: Egypt's crackdown, West condemns bloodshed
Aug. 15 - Fury over a security crackdown on the Islamist movement that killed hundreds of people spills onto the streets in Egypt, while oil hits 4-month high and companies pull out......

Salmon farmers unite to target sustainability
Aug. 15 - Companies which make up 70 percent of the world's salmon farm production have united to tackle the environmental challenges facing their industry. Andrew Potter reports......

UK football gets an American accent
Aug. 15 - Jacksonville Jaguars owner and new Fulham boss Shahid Khan helps explain why six of the 20 English Premier League clubs are now owned by Americans. Nigel Hilditch reports......

Market Pulse: Dutch Wilt on Home-Grown Woes
Aug. 15 - The Netherlands' economic missteps are of its own devising, says Berenberg Bank's Christian Schulz, and have little to do with the euro zone crisis......

Sports Spread: Football's Back - a Premier League Special
Aug. 15 - After a summer of British sporting success, this weekend sees the return of the Premier League. How will the new faces fair?.....

Breakingviews: Markets are poor judge of Egypt
Aug. 15 - Oil prices and Egyptian CDS have risen after the violent crackdown in Egypt. But ramifications may be far wider than that, and markets are too backward looking for now, says Breakingviews......

China's Tencent tops leaderboard, but rivals loom
Aug. 15 - China's biggest Internet firm, Tencent, has been signing up users and burning up the stock charts. But its recent results point to a tougher future marked by higher costs and tougher competition......

Egypt in turmoil - what hope now for democracy?
Aug. 15 - As world leaders condemn the bloodshed in Egypt, fears grow that an escalation of violence could spread across the region......

Xiaomi CEO: Don't call us China's Apple
Aug. 15 - China's Xiaomi has sparked a frenzy with a low-cost smartphone that may help the tech firm widen its lead over Apple in the local market -- but CEO Lei Jun says it has very different ambitions......

Reuters Today: Hundreds killed in Egypt government crackdown
Aug. 15 - World leaders condemn Egypt's military rulers for a violent crackdown on Mursi supporters leaving at least 300 people dead. And major economies emerge from the doldrums, so why are markets so gloomy.....

UK retail sales shine in summer
Aug.t 15 - Sales at H&M, the world's second-biggest clothing retailer, fell unexpectedly in July. Apparel firms have found trading tough in Europe, but the summer heatwave boosted British retail sales by their fastest annual rate in July. Joanna Part.....

U.S. Morning Call: Apple sweetens 13Fs, Mondelez sours
Aug 15 - Hedge fund investors added Apple shares to their portfolios,while food giant Mondelez fell out of favor. Meanwhile, Walmart stumbles as consumers watch their pennies......

Macy's earnings discount stocks
Aug. 14 - Summary of business headlines: Stocks down after Macy's miss; Apple crosses $500, Deere's record earnings; Cisco down after results; UPS plane crash; Americans carry less debt; Charges against former JP Morgan employees. Bobbi Rebell report.....

Active at 77: Carl Icahn's big bets
Aug 14 - Billionaire activist shareholder Carl Icahn is not slowing down, adding Apple to the list of companies he hopes to turn into winners for his portfolio, which includes Dell, Herbalife and Netflix. Conway G. Gittens reports......

U.S. Day Ahead: Walmart seeking e-commerce
Aug 14 - Walmart reports Q2 results and inquiring minds want to know how their efforts in connecting online with customers and generating e-commerce are doing......

Dell profits plunge 72pc
Dell's quarterly profit has plunged 72pc from a year ago as the struggling computer giant was hit by weak PC sales.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3000da63/sc/21/mf.gif' border='0'/><br clea.....

Wongaland - a fictional place created by overblown debt bubble fears
There is no new consumer debt bubble and households are not 'plundering their savings'.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30004045/sc/25/mf.gif' border='0'/><br clear='all'/><div class='m.....

Amazon is Britain's most influential retailer - and it doesn't even make a profit
Amazon has become the biggest online retailer in the world and the most influential retailer in Britain, but here are a couple of questions that shine a different light on the company.<img width='1' height='1' src='http://telegraph.feedsportal.com.....

New car price war to continue for some time, says Ford's Europe boss
The price war between European car manufacturers is likely to continue for some time, the head of Ford Europe's sales division has said, as dealers have no choice but to sacrifice profit to shift volumes.<img width='1' height='1' src='http://teleg.....

Government has 'anti-enterprise undercurrent'
Impact of policies designed to clear up mess left by financial crisis will will mainly fall on the directors of smaller companies, argues IoD chief Simon Walker.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ff.....

Government has "nti-enterprise undercurrent'
Impact of policies designed to clear up mess left by financial crisis will will mainly fall on the directors of smaller companies, argues IoD chief Simon Walker.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ff.....

Strong data sparks market sell-off on fears stimulus is over
Stock markets across the world slumped and government borrowing costs soared after strong economic data from the US and the UK renewed fears that central banks would soon start withdrawing stimulus and move towards interest rate rises.<img width='.....

China fires warning shot over price-fixing
The gaze of the Chinese authorities is set to move beyond pharmaceuticals and baby milk.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fff7f87/sc/2/mf.gif' border='0'/><br clear='all'/><div class='m.....

Asda plans click-and-collect expansion as sales growth slows
Asda, Britain's second largest supermarket group, has said it expects online click-and-collect to become as big as delivery and is ramping up its investment in collection points.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

How to successfully launch a new product
Three entrepreneurs explain how they approach innovation and product development.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fff7f8b/sc/4/mf.gif' border='0'/><br clear='all'/><div class='mf-viral.....

Housebuilders slump on rate fears
Homebuilder shares took the brunt of the market sell-off on Thursday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2fff7f8c/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><tab.....

Ryanair sacks pilot over Channel 4 Dispatches programme
Ryanair has sacked a senior pilot and is preparing legal action against him over "defamatory" comments he made about the airline's safety policy in a Channel 4 documentary.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Global markets fall while borrowing costs rise on taper fears after jobs report
Global equity markets fell and bond yields rose on Thursday after slightly upbeat US jobs data and gains in consumer prices added weight to the view the Federal Reserve will soon begin to trim its bond-buying program.<img width='1' height='1' src=.....

UK tourism hits record 12 months after Olympics
Britain welcomed more than one visitor every single second in June.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ffe5f32/sc/7/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table.....

Post Office staff vote for a sales 'ban' on banking products
Thousands of furious Post Office staff have voted to stop pro-actively selling lucrative insurance products, current accounts and credit cards in protest at branch closures and 1,500 planned job cuts.<img width='1' height='1' src='http://telegraph.....

Business news and markets: as it happened - August 15, 2013
Chinese authorities have announced they are widening their probe into pricing across all industries that have an impact on the lives of ordinary people in China.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ff.....

Gulf spill lawyer: 'BP treats US as a colony'
The lawyer who represented more than 100,000 people in a settlement with BP over the 2010 Gulf of Mexico oil spillage has accused the company of viewing the US as a colony it can exploit.<img width='1' height='1' src='http://telegraph.feedsportal......

Business news and markets: live
Chinese authorities have announced they are widening their probe into pricing across all industries that have an impact on the lives of ordinary people in China.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ff.....

Martin Lewis: Time to stop calling student loans a loan
Amid a fresh batch of A-level results, the money saving expert explains why the "ignorant" debate on tuition fees risks damaging a generation.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ffdb384/sc/33/mf.gif'.....

Imperial Tobacco to launch e-cigarette next year
Imperial Tobacco will launch its first electronic cigarette next year, the company confirmed as it announced a fall in revenues after one of its "toughest" years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2f.....

Soros buys Apple and Facebook after selling gold
George Soros, the investor who made billions betting against the pound in the 1990s, has taken stakes in Apple and Facebook after getting out of gold in the second quarter.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Warren Buffett makes $3bn bet on banks
Billionaire investor Warren Buffett has made a big bet on a better outlook for banks, spending more than $3bn (1.9bn) buying shares in some of America's largest lenders.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Warren Buffett bets on cars, banks and satellite TV
Warren Buffett has bet on cars, banks and satellite TV in the second quarter, with Berkshire Hathaway spending the most on shares in more than two years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ffca283/sc.....

Lenovo smartphone sales rocket amid BlackBerry speculation
China's Lenovo, the world's largest PC maker, has doubled sales of smartphones and tablets as it is tipped for a takeover of BlackBerry.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ffc966b/sc/15/mf.gif' borde.....

China produces fewer millionaires as economy slows
China's millionaires increased at their slowest rate in five years in 2012 as the economy and markets stumbled.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2ffbca26/sc/24/mf.gif' border='0'/><br clear='a.....