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Friday 16 August 2013

UK Financial News on 2013-08-16

Households cut energy use by 25%
Households in England and Wales have cut their energy use by a quarter over the last six years, according to the Office for National Statistics......

Travel firms cancel Egypt holidays
Travel firms TUI and Thomas Cook cancel holidays booked by German customers in Egypt until mid-September as the violence in the country escalates......

Post Office strike over bank holiday
Post Office workers will stage a 48-hour strike over the August bank holiday weekend in an escalating row over pay and jobs......

RBS branches bidder to list on AIM
One of the bidders for more than 300 branches put up for sale by Royal Bank of Scotland will list on the stock market next week, the BBC learns......

Spain's richest woman dies at 69
Spain's richest woman Rosalia Mera, who co-founded Zara's parent company Inditex, dies at the age of 69......

Warning over new car accident scam
Motorists are being warned about a new car accident insurance scam called "flash-for-cash"......

Bank account switch date announced
The UK's 46 million current account holders will be able to switch banks in seven days from next month......

Energy firm SSE ends cold calling
Energy supplier SSE says it has ended the practice of making unsolicited telephone calls to potential customers......

Conrad Black fined and banned by US
Former media baron Conrad Black is fined $4.1m (2.6m) and barred from becoming the director of a US company in a deal with regulators......

US new home construction rises
The rate of new US home-building rises in July, spurred on by a rise in the construction of new apartments......

Lonmin sorry for South Africa deaths
The company which owns South Africa's Marikana mine, where 34 striking workers were shot dead by police, apologises for the first time......

Fracking firm scaling back operation
Energy firm Cuadrilla says it is scaling back work at an exploration site in West Sussex on police advice, as campaigners plan a protest camp......

Rupee hits record low against dollar
The Indian rupee has hit a record low against the dollar despite efforts to by the nation's central bank to support the currency......

Swiss bank UBS bailout loan repaid
Switzerland's central bank says a loan it granted to bail out troubled bank UBS five years ago has been repaid......

Fine threat over Mainz rail chaos
Germany's national rail firm Deutsche Bahn is threatened with a big fine because of travel chaos at Mainz station, a major hub......

UKIP man denies sexism in debate
UKIP treasurer Stuart Wheeler denies making a sexist remark during a debate on gender quotas for company boards......

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......

Tenants 'see smaller rent rises'
Millions of private tenants across the UK are experiencing smaller rent rises than normal, according to two separate surveys.....

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......

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......

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

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)......

VIDEO: 'We don't want anyone to get hurt'
Energy firm Cuadrilla has said it is scaling back work at an exploration site in West Sussex on police advice. Chief executive Francis Egan says, "We don't want anyone to get hurt" but denies setting a bad precedent......

AUDIO: Would you shop online via Facebook?
Facebook is piloting a web payment scheme that lets users make purchases using their log-in. But will it realistically rival PayPal?.....

AUDIO: 'We're looking for lane hoggers'
New powers for the police to issue fixed penalty fines for careless or inconsiderate driving come into effect on Friday. The BBC's Sarah Julian joins PC Barry Jackson from Derbyshire police's traffic division on patrol......

VIDEO: 'This is a good result for Maersk'
Shares in Maersk Group rose by nearly 7% after it reported a big rise in profits at its container shipping unit. Richard Meade of shipping industry journal Lloyds List says the positive results are "surprising"......

AUDIO: Fracking protesters 'load of nutters'
The energy firm Cuadrilla is scaling back its work at an exploration site in West Sussex on police advice but protesters said they will not be happy until the firm has gone......

VIDEO: Inside a South African gold mine
A year on from South Africa's deadly Marikana mine dispute, Mark Lowen was given rare access into a gold mine to see what conditions are like and to follow the mining process......

AUDIO: Today programme business round-up
The Today programme's business news with Dominic Laurie looking at fracking as energy company Cuadrilla scales back its exploratory oil drilling at Balcombe in West Sussex......

VIDEO: EADS combats hacking threat to UK
How to stop hackers from destroying waterworks and other critical infrastructure.....

Is there life after Photoshop?
Is there life after Photoshop?.....

Bosses who stand out from the crowd
Bosses who stand out from the corporate crowd.....

Marikana: Economic impact one year on
South Africa's mining industry still faces uncertainty.....

Retail heatwave: The hot items
The most popular items sold during the heatwave.....

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

U.S. Week Ahead: To retail or RetailMeNot
correspondent Phil Wahba talks about who could be the winners and losers in the sector......

Rates grate on housing
Aug. 16 - Housing starts rose, but disappointed, as higher rates impact builders even as more buyers move to cash. Bobbi Rebell reports......

MuniLand: Muni misconceptions trigger big outflows -Kotok
Aug 16 - Cumberland Advisors' David Kotok explains that much of the summer volatility in the muni market is the product of a few misconceptions among retail investors......

Techquity: YouTube fight, Pandora rocks say analysts
Aug 16 - Google and Microsoft battle over YouTube app while Pandora gets positive comments from brokerages......

Sony's breakthrough streaming deal
Aug. 16 - Sony has reportedly reached an agreement to stream Viacom's programs over the Internet in the first major deal of its kind, putting the media and entertainment conglomerate in the lead of Internet pay TV. Fred Katayama reports......

Data spying bins raise privacy fears
The City of London has banned high-tech recycling bins from collecting phone data from passers-by. The CEO of Renew, the start-up who owns the bins, says their technology trial has been misunderstood. But as firms increasingly look to monetise data c.....

Trading at Noon: Tight-fisted consumer weakens retail sector
Aug 16 - Consumers are spending less and more selectively, causing some retailers to see softer revenues and earnings......

Foreign companies suspend Egypt operations
Aug. 16 - Several foreign multinationals have suspended their operations in Egypt after more than 600 people were killed in a deadly crackdown on protesters. Andrew Potter reports......

Credit for builders is an issue for housing- IHS's Newport
Aug 16 - Builders are having a tougher time getting loans, and that could be a bigger issue than rising rates for the housing recovery, says IHS Global Insight economist Patrick Newport. Bobbi Rebell reports.....

Ryanair fires senior pilot in safety dispute
Aug.16 - Ryanair has fired one if its senior pilots for questioning the airline's safety culture in a television interview. The dispute has seen shares fall 7 per cent. Kirsty Basset reports......

Europe Week Ahead: 5 things to know about next week
Aug. 16 - A look at five key events for markets next week including Egypt, company results from Carlsberg and Heineken, and key euro zone PMI data......

U.S. Morning Call: Sony Leads the Pack with Web TV
Aug 16 - Sony is out in front with a preliminary deal with Viacom to carry some of the media giant's more popular channels like Nickelodeon and MTV......

Market Pulse: Taper tantrums boost dollar
Aug. 16 - The dollar rises against a basket of currencies, drawing support from a rise in U.S.Treasury yields......

Broke team borrows soccer's famous names
Aug. 16 - A soccer team in England has taken a highly unusual step to get sponsorship and stay in business, renaming its players after some of the sport's most famous figures. Andrew Potter reports......

Breakingviews: Can't Ryanair play nice?
Aug. 16 - The airline has a good record, but the safety debate has sparked another bout of toxic labour relations, says Breakingviews. And an M&A upset for Liberty Global that doesn't make sense......

Reuters on the Road: Skinny Tan Quenches Dragons Fire
Aug. 16 - Fresh from a successful appearance on the BBCDragons Den, Skinny Tan founders Kate Cotton and Louise Ferguson tell us why their beauty product had the Dragons falling over themselves to invest......

World At Risk: Germany votes, Merkel wins - but with whom?
Aug. 16 - Merkel is set to win September's election, though she will need a coalition partner. But little will change in policy towards Europe, says Alastair Newton, Senior Political Analyst at Nomura......

The New Japan Inc.: A computer geek made good
Aug. 16 - In the first of a new series on entrepreneurship in Japan, we meet an acclaimed venture capitalist, self-confessed computer geek and adviser who says the country faces a historic opportunity......

Reuters Today: Taper tantrum does not equal market rout
Aug. 16 - U.S. stocks suffer their biggest sell-off since June on fears over Fed stimulus withdrawal, but don't expect a wholesale sell-off, says IG analyst Chris Beauchamp. Plus, Egypt facing March of anger......

Asia Week Ahead: Japan's tricky trade data
Asia Economics and Markets Editor Wayne Arnold......

Is the Euro Zone out of the woods?
Aug. 16 - After a week of promising data, are the euro zone's troubles over? Despite the glimmer of hope, analysts fear a weak and uneven recovery, as Ciara Sutton reports......

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......

News UK could face corporate charges in Britain
Rupert Murdoch's UK newspaper business is being investigated over complicity with alleged phone-hacking and bribery of police and public officials by its journalists, raising the likelihood that it will face corporate charges.<img width='1' height.....

A warm welcome for ban on cold calls
Can energy companies be trusted? Scottish and Southern Energy hopes so.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/300b1961/sc/24/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><.....

Yorkshire BS cut two-year fixed rate mortgage to 1.66pc
Money MoT: Why Yorkshire Building Society's 1.66pc fix can be signicantly cheaper than West Brom's 1.48pc deal.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/300b173c/sc/25/mf.gif' border='0'/><br clear='a.....

Virgin Trains attacks Network Rail for thwarting expansion
Virgin Trains has launched a bitter attack on Network Rail after discovering that it would not be allowed to add any new services on a key rail route until the autumn of next year "at the earliest".<img width='1' height='1' src='http://telegraph.f.....

Marissa Mayer: I didn't set out to be a boss
"I'm geeky, shy and I like to code," admits Yahoo! chief executive.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/300a348d/sc/30/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><tabl.....

Change afoot at fund manager F&C
Sherborne Investors said it would distribute its stake in F&C.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3009fc94/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table .....

Comet name could return to the high street
A south coast-based entrepreneur who attempted to buy Comet out of administration is looking to bring the electrical retailer's name back to the high street.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3009f76.....

Zara founder Rosalia Mera's fast-fashion legacy to the British high street
Inditex co-founder Rosalia Mera set the benchmark for "fast fashion", taking trends from the catwalk to the shop floor within two weeks.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/300ab728/sc/19/mf.gif' borde.....

Family shares 221m windfall after sale of Thornton & Ross
The Thornton family behind the Covonia cough medicine and Zoflora disinfectant brands will share a 221m windfall after selling the 91-year-old family firm to German drug-maker Stada.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

FTSE 100 ends down for a second week
The FTSE 100 ended down for the second week in a row despite edging higher on Friday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3009f767/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-v.....

Business news and markets: as it happened, August 16, 2013
Wall Street markets have risen slightly after two disappointing sets of economic data tempered fears that the Federal Reserve will imminently slow down its stimulus programmes.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Business news and markets: live
Wall Street markets have risen slightly after two disappointing sets of economic data tempered fears that the Federal Reserve will imminently slow down its stimulus programmes.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726.....

Pound set to fall against dollar as Mark Carney continues stimulus
Analysts at Morgan Stanley expect the pound to fall by 5pc against the dollar in the next three months as Mark Carney considers more quantitative easing.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3009565d/sc.....

Lord Rothschild appoints daughter Hannah to RIT Capital board
Lord Rothschild has appointed his eldest daughter to the board of his 2bn investment firm RIT Capital Partners.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3008653d/sc/24/mf.gif' border='0'/><br clear='a.....

Shareholders face total loss at accountants RSM Tenon
Debt-laden accountant RSM Tenon, which last year admitted it had overstated its own figures, has warned shareholders they are likely to be wiped out even if the firm is bought by rival Baker Tilly.<img width='1' height='1' src='http://telegraph.fe.....

Lay off Sheryl Sandberg and her unpaid intern: the millionaire's an easy target
As Sheryl Sandberg's Lean In organisation is criticised for seeking an unpaid intern, Louisa Peacock fights back against the myth that working for free always amounts to exploitation. In this tough jobs climate, let's see the bigger picture, shall we.....

Cadbury pensioners told 'no more Christmas gifts'
The US owners of Cadbury have been criticised for scrapping the annual Christmas gift boxes they formerly sent to thousands of retired staff, in order to cut costs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Tesco sponsors fourth series of Downton Abbey
The grocer's premium food range, Tesco Finest, is to sponsor the latest series of the period TV show.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30080fd4/sc/2/mf.gif' border='0'/><br clear='all'/><.....

Foreign Office under pressure as Germans told to avoid Egypt
Britain's biggest tour operators came under increasing pressure to suspend holidays to Egypt's Red Sea resorts tonight after governments across Europe warned their citizens to stay away.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

Direct debits are convenient but can cost you
Comment: Why there's a price to pay for the convenience of direct debits.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30085399/sc/25/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'>&l.....

SSE hangs up on cold-calling
Scottish & Southern Energy has axed all cold calling by telephone sales staff just months after being fined 10.5 million by regulators for "prolonged" mis-selling.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

Become a DIY investor in just five minutes
Many of us will need a long-term savings plan to bolster our pensions. This family got going in just five minutes.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30070aa5/sc/4/mf.gif' border='0'/><br clear=.....

First-time investor? These are the funds to consider
We asked some financial advisers which funds were ideal for novice investors. Here are their suggestions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30070aa7/sc/2/mf.gif' border='0'/><br clear='all'/>.....

First-time investor? These are the funds to consider
We asked some financial advisers which funds were ideal for novice investors. Here are their suggestions.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30065432/sc/2/mf.gif' border='0'/><br clear='all'/>.....

Eurozone exports rise as inflation remains steady
Eurozone exports have risen while inflation in the 17-nation currency bloc has remained steady, official data showed on Friday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30062b97/sc/2/mf.gif' border='0'/>.....