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Monday 26 August 2013

UK Financial News on 2013-08-26

Greece 'may renegotiate bailout'
Greece may seek ease its debt burden by renegotiating repayment of its bailout loans, the Greek finance minister tells a German newspaper......

Estate agency insolvencies 'up 57%'
The number of estate agents in the UK entering insolvency jumped 57% in the last year, a new report indicates......

Wozniak: Microsoft resting on laurels
Apple's co-founder Steve Wozniak has said that rival Microsoft has been "resting on" the markets it built up a "long, long time ago"......

South Africa hit by wave of strikes
Construction and airport workers in South Africa go on strike for higher wages, following similar action in other sectors and dealing a further blow to the troubled economy......

US to sell helicopters to Indonesia
The US is to sell for the first time new AH-64E Apache attack helicopters to Indonesia to bolster its military capability, US officials say......

ONGC to buy stake in Africa gas field
India's biggest oil explorer, Oil and Natural Gas Corporation (ONGC), agrees a deal to buy a 10% stake in an offshore gas field in Mozambique......

Wall Street Market Report
Wall Street Market Report.....

China's Sinopec sees profit jump 24%
China Petrochemical Corporation, also known as Sinopec, reports a 24% jump in net profits for the first six months of the year......

Belarus holds Russian potash boss
Investigators in Belarus have detained the head of Russia's largest potash producer Uralkali on suspicion of abusing his authority......

Big web firms hit by Amazon glitch
Instagram, Netflix, Vine and Airbnb are all hit by software problems at one of Amazon's data centres......

Green belt house plans 'double'
The number of houses planned for Green Belt land has nearly doubled over the past year, according to research by the Campaign to Protect Rural England......

Stop being anti-car, councils told
Councils in England should provide more parking spaces in town centres and cut down on speed humps, according to new planning guidance......

Tourism drives 'bring extra 310m'
VisitScotland says its marketing campaigns have brought 310m in extra economic benefit for Scotland since the start of 2012......

Argentina loses $1.3bn debt appeal
Argentina is again told it must pay back more than $1.3bn (857m) to a group of investors - 11 years after its record debt default......

Microsoft chief Ballmer to retire
Shares in Microsoft close more than 7% higher after the software giant announces that chief executive Steve Ballmer will retire within the next 12 months......

Armstrong 'agrees Times settlement'
Disgraced cyclist Lance Armstrong agrees a settlement with the Sunday Times after it sued him for about 1m, the paper announces......

Trump pillories NY school lawsuit
US property tycoon Donald Trump hits back at claims in a lawsuit filed by New York state that he misled students who enrolled at his investment school......

VIDEO: Wozniak praises Apple's formula
Apple's co-founder Steve Wozniak says one of the secrets of the company's success is that it found the formula to remain innovative despite its size......

VIDEO: Microsoft 'needs to lead not follow'
Manoj Menon, analyst at Frost & Sullivan, says Microsoft lost its role as a market leader and became a market follower......

Will we ever want to have sex with robots?
Will we ever want to have sex with robots?.....

Power boss who says keep it simple
The power boss who says too many firms overcomplicate things.....

BATS/Direct Edge deal a good first step- Columbia's Charles Jones
August 26 - Columbia Business School's Charles Jones says the deal between BATS Global Markets and Direct Edge is only a first step in what needs to be done to improve the trading business. Bobbi Rebell reports......

Breakingviews: How do you say bailout in Portuguese?
Aug. 26 - Rob Cox and Christopher Swann discuss how Brazils $60 bln currency-intervention looks designed to paper over corporate and policy blunders......

Amgen scoops up Onyx for $10.4 bln
Aug. 26 - Amgen looks to plug holes in its drug pipeline with finally reaching a deal to acquire Onyx Pharmaceuticals for $10.4 billion. Conway G. Gittens reports......

Thirsty in Japan? Try an ice-cream (or tomato) beer
Aug. 26 - Facing tough demographics at home, Japan's biggest brewers are revamping their lineups to capture the younger set, and that means everything from slushie-topped drafts to caffeine-infused lagers......

Apple should learn to let go: Wozniak
Aug. 26 - New designs for Apple in China might sound 'treasonous' to some, says company co-founder Steve Wozniak, but may be necessary for the firm to compete in the world's number one smartphone market......

Going underground on Crossrail: A 40-year project is taking shape
Nathalie Thomas goes under ground at Canary Wharf in London to see how Crossrail, the biggest infrastructure project in Europe, is progressing.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c0e89/sc/4/mf.gif'.....

More big projects needed for UK, says Crossrail boss
Boss of Crossrail project tells Nathalie Thomas 'continuity' needed for UK to stay 'top of its game'<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c0e8a/sc/4/mf.gif' border='0'/><br clear='all'/><.....

Timpson has key to giving ex-convicts second chance
Alistair Osborne meets the former criminals putting their past behind them.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c0bb3/sc/8/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'>&.....

'I don't earn half as much as I used to. But it's my money, I've earned it'
Ex-convicts bring special qualities to Timpson<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c0bbb/sc/21/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'><table border='0'><t.....

Saudis offer Russia secret oil deal if it drops Syria
Saudi Arabia has secretly offered Russian a sweeping deal to control the global oil market and safeguard Russia's gas contracts, if the Kremlin backs away from the Assad regime.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

John Lewis to open Westfield London store
Board of department store to approve fourth outlet in the capital as shopping centre discloses ambitious proposal for 1bn expansion<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c0bde/sc/30/mf.gif' border='0'.....

QVC has come a long way from selling VW Beetle clocks for 16.50
Andrew Cave investigates how the 20-year-old shopping channel is adapting to a brave new world.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306bacca/sc/38/mf.gif' border='0'/><br clear='all'/><div .....

1,500 care homes at risk of going bust
Nearly 1,500 UK care homes across the UK are "financially vulnerable" and could go bust, a report has found.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306ae0a9/sc/25/mf.gif' border='0'/><br clear='all'.....

BBA Aviation in Dubai deal talks
BBA Aviation, the business jet specialist, is negotiating a 2.7bn take-off with a US competitor linked to the government of Dubai, the acquisitive Gulf state.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306ae0.....

The world slump is still with us, we need more getting and spending
While trouble persists elsewhere, Britain's nascent economic recovery is picking up speed.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306ae0ab/sc/7/mf.gif' border='0'/><br clear='all'/><div class=.....

Confidence is in short supply among the UK's big corporates
With cash to invest, Britain's largest companies are crucial to getting the UK economy growing. But unless banks and policymakers work together to provide incentives for them to invest, recovery will be a slow process.<img width='1' height='1' src.....

Kentz insists it is worth more than rival's offer
Kentz, the engineering and construction group in the bidding frame, will on Tuesday attempt to demonstrate it is worth more than the 565p-580p a share offer proposed by rival Amec.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3.....

Stakes are high for firms caught in ego-driven wars
Demands of activist investors are becoming more aggressive, says Katherine Rushton<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306ad8fc/sc/2/mf.gif' border='0'/><br clear='all'/><div class='mf-vira.....

AstraZeneca in cancer drug push with Amplimmune deal
AstraZeneca, the drugmaker, has made a move in its efforts to boost its portfolio of cancer treatments with the $500m (321m) acquisition of a US biotechnology company.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300.....

More pain in Spain but signs of recovery
Companies are looking abroad as unemployment cripples domestic demand, writes Fiona Govan.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306c138a/sc/25/mf.gif' border='0'/><br clear='all'/><div class.....

Spain looks to exports for recovery
Companies are looking abroad as unemployment cripples domestic demand, writes Fiona Govan.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3069f1e0/sc/2/mf.gif' border='0'/><br clear='all'/><div class=.....

Essar defends structure against warnings on independence
Essar Energy has been forced to defend its corporate governance ahead of its Annual General Meeting this week, following criticism from a leading shareholder group.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Alan Davies: 'Dad didn't give me enough - so I stole'
After a very frugal childhood, actor and comedian Alan Davies, 47, is starting to feel more relaxed about money.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30657e0d/sc/38/mf.gif' border='0'/><br clear='.....

Alan Davies: 'Dad didn't give me enough - I started stealing'
After a very frugal childhood, actor and comedian Alan Davies, 47, is starting to feel more relaxed about money.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3064acd1/sc/1/mf.gif' border='0'/><br clear='a.....

Recovery too late for scores of estate agents
The housing market recovery has come "too late" for many estate agents, according to accountants, as new figures showed insolvencies have risen 57pc in the year to the end of June.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3.....

Railways 'in black' for first time in two decades
Operators pay the state more than they receive in subsidies, say Atoc figures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/3062108d/sc/7/mf.gif' border='0'/><br clear='all'/><div class='mf-viral'&g.....

Commodities: Bumper crop expectations make corn the biggest loser as oil rises
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/30615ad9/sc/2/mf.gif' border.....

'We're going to work until we're unable to'
"Golden age" of pensions is over and we will return to working until we no longer can, Scottish Widows boss warns.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/30615ada/sc/25/mf.gif' border='0'/><br clear.....

Taper talk unnerves markets and pulls FTSE 100 away from record high
To taper or not to taper? That is the question preoccupying policymakers at the US Federal Reserve, a conundrum that has sparked considerable volatility in global stock markets recently as dealers contemplate a slowdown of the Fed's quantitative easi.....

Ex-Ghurkas to go on strike in fight to save training jobs at Serco
More than 100 retired members of the Gurkhas will go on strike this week in a protest over an Army training contract at outsourcing giant Serco.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/306154bc/sc/8/mf.gif.....