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Sunday 18 August 2013

UK Financial News on 2013-08-18

HS2 'could cost taxpayer 80bn'
The HS2 high-speed rail project could cost taxpayers more than 80bn, almost double the current estimated cost, says a free-market think tank......

Greece privatisation boss is axed
Stelios Stavridis, the chairman of Greece's privatisation agency, is dismissed after four months in the post for "ethical reasons"......

Youth jobs schemes 'not working'
Youth unemployment schemes run by the UK government are not helping people find work, the group representing English local councils says......

US probes JP Morgan China staff
Authorities in the US are investigating investment house JP Morgan over claims it hired children of influential Chinese officials to gain business......

Anonymous 350m fund stuck in limbo
An anonymous donation to the country made 85 years ago and now worth 350m is stuck in legal limbo because of a stipulation made by the donor......

Technical issue hits BT Sport app
Some BT Sport customers complain of problems with the new broadcaster's mobile device app, as it airs its first live Premier League match......

Mortgages at 'most affordable level'
Mortgages are at their most affordable for 14 years after lenders slashed their rates, a report by the Halifax finds......

Concern at loan shark interest rates
A new crackdown against loan sharks in Wales is being launched over concerns victims are being charged exorbitant interest rates......

Glasgow 'more than ready' for Games
The secretary general of the Commonwealth tells BBC Scotland that Glasgow is more than ready to host the 2014 Games......

VIDEO: Youth jobs schemes 'not working'
Youth unemployment schemes run by the UK government are not helping people find work, the group representing English local councils says......

Why NHS patients pay for GP letters
Why NHS patients pay for GP letters.....

Egypt stocks hit by unrest
Aug. 18 - The Egyptian stock exchange and banks are feeling the impact of a violent week and trading restrictions during unrest. Lindsey Parietti reports......

Australian manufactuing alive and kicking
Aug. 18 - Australian manufacturing not dead, but in transition, industry players say. Julie Noce reports......

SABMiller in 'fresh lager' push to stem sales decline
It has to travel 24 hours across land and sea, but SABMiller has started importing "fresh" unpasteurised lager to the UK, as global beer companies are forced to find new ways to rekindle drinkers' waning enthusiasm for the amber nectar in developed m.....

RBS branches sale could be delayed, warns bidder
A sell-off of 315 branches by the taxpayer-owned Royal Bank of Scotland could be delayed beyond the two-year schedule, one of the bidders has warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3019d0b7/sc/25/.....

Eurofighter Typhoon hailed as hopes of fresh contracts loom
The Eurofighter Typhoon jet has attained new levels of accuracy, leading military figures have said, as it reaches its first decade of service.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3019d0ba/sc/11/mf.gif.....

Commodities: Egyptian bloodbath threatens crucial routes for oil and gas supplies
Should the current turmoil in the North African country get any worse, a potential oil spike could damage any nascent economic recovery.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30199e3e/sc/2/mf.gif' border.....

Royal Mail staff discontent with bosses
The low morale of the Royal Mail workforce has been laid bare by an internal report which reveals just 28pc of the staff have confidence in the decisions of the senior management team led by chief exec Moya Greene.<img width='1' height='1' src='ht.....

Graphene: A new miracle in the material world
Britain is investing 60m in developing graphene. But are our businesses already falling behind in the race to exploit it, asks Rebecca Clancy.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30199e40/sc/30/mf.gif'.....

Week ahead in business and economics: August 19-23
Two major housebuilders, Bovis and Persimmon, should stick to the sector's now familiar narrative of rising sales and profits as they update this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/301952ae/sc/2.....

This might not be a recovery, but a good old-fashioned boom
It's no time for caution - we're learning to have fun again, so let's enjoy it while we can, says George Trefgarne<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/301995ba/sc/1/mf.gif' border='0'/><br clear=.....

Ecclestone denies 'bribe' to jailed German banker in Formula One sale
New details of bribery allegations against Bernie Ecclestone over the sale of Formula One to the private equity firm CVC have been given by prosecutors in Germany.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3.....

Accountancy minnows attack audit regulator
Britain's smaller accounting firms have accused the industry regulator of perpetuating the "cosy" world of the "Big Four" accountants with its opposition to five-year tendering of company audits.<img width='1' height='1' src='http://telegraph.feed.....

Man behind Parkinson's Law should be Fourth Plinth statue
John Timpson calls for some recognition for the man whose Parkinson's Law "contains more common sense than a library full of modern management books".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30194408/sc/38.....

As the economy gathers speed, Help to Buy is starting to look excessive
An aspiring 30-year-old wants to buy a home to start a family. He or she has a problem, though.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3018ece4/sc/22/mf.gif' border='0'/><br clear='all'/><div .....

Innovation is the key to a thriving British manufacturing industry
There is a great deal of concern in the UK that this country's manufacturing sector has dwindled dramatically over recent years.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3018ece5/sc/24/mf.gif' border='0'/&g.....

UK farmers have "huge opportunity" says Dairy Crest boss
The chief executive of Dairy Crest, the UK's only listed dairy company and one of the big three milk suppliers in the country, has said embattled British farmers face a "huge opportunity" because of growing demand for domestically sourced food.<im.....

Monday Interview: Dairy Crest chief executive Mark Allen
It may have been a business built to deal with leftovers but, even by its own standards, Dairy Crest's latest venture is a little different.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30189728/sc/25/mf.gif' b.....

JP Morgan in bribery probe over Chinese staff
JP Morgan is facing accusations that it hired the children of influential Chinese officials to help the investment bank win business in China.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30180608/sc/39/mf.gif'.....

Guildford is 'luxury shopping capital of the UK'
Guildford is the luxury shopping capital of the UK, according to new research by Experian.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3018060c/sc/25/mf.gif' border='0'/><br clear='all'/><div class.....

Highways Agency steps towards private sector
The Highways Agency, the body responsible for Britain's main roads, has outlined plans for what experts are calling a "first step to privatisation".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3018060d/sc/7/mf.....

House of Fraser could return to the stock market
The department store chain House of Fraser is considering an unlikely return to the stock market.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3018060e/sc/2/mf.gif' border='0'/><br clear='all'/><div.....

Google argues UK privacy laws do not apply to it
Google is trying to avoid a potentially costly bill in the UK for allegedly breaching the privacy of iPhone users by arguing it is not subject to British laws.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30180.....

BT Sport makes mixed impression on football debut
BT is absorbing the lessons of its first weekend as a Premier League broadcaster.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/301801a4/sc/38/mf.gif' border='0'/><br clear='all'/><div class='mf-vira.....

TSB: Why is Europe telling us to switch banks?
Comment: The new TSB bank to be split out of Lloyds opens its doors next month, but not all customers want to move.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3014ea92/sc/25/mf.gif' border='0'/><br clea.....

Towns hit by 348 bank branch closures last year
Unpublished figures obtained by The Telegraph show the extent of cuts in 2012.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30146ae4/sc/25/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'&.....

In pictures: A history of Lloyd's in catastrophes
When disaster strikes, so too do insurance claims. Here are some of the catastrophes that Lloyd's has weathered in its 325-year history.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30133e92/sc/25/mf.gif' borde.....

Hedge fund linked to RBS collapse backs bid for branches
A hedge fund which helped to trigger the Royal Bank of Scotland's disastrous purchase of ABN Amro has emerged as an investor in a vehicle designed to profit from the near-collapse of the state-backed bank.<img width='1' height='1' src='http://tele.....