Tax cut for shale gas firms planned

The government has outlined plans to give tax breaks to companies involved in the UK's nascent shale gas industry.

It has proposed cutting the tax on some of the income generated from producing shale gas - found in underground shale rock formations - from 62% to just 30%.

The plans would make the UK the "most generous" regime for shale gas in the world, the government said.

Microsoft profit misses as Surface tablets languish; shares drop

SEATTLE | Fri Jul 19, 2013 1:57am BST
(Reuters) - Microsoft Corp on Thursday reported lower-than-expected quarterly earnings as slow personal computer sales ate into its Windows business and the company took an unexpected $900 million (591 million pounds) charge for its inventory of unsold Surface tablets.

The stock fell 5 percent after hours from 5-year highs.

Japanese shares reverse course, skid ahead of weekend vote

SYDNEY | Fri Jul 19, 2013 5:07am BST
(Reuters) - Japanese shares skidded from a two-month peak on Friday in a sudden reversal sparked by profit-taking ahead of a weekend election that should see Prime Minister Shinzo Abe gain control of the upper house of parliament.

There are worries that a big victory for Abe would allow him to prioritise nationalist policies at the expense of painful structural reform, though markets are hopeful such an outcome will not materialise.

UK Stocks-Factors to watch on Friday, July 19

LONDON, July 19 | Fri Jul 19, 2013 7:00am BST
(Reuters) - Britain's FTSE 100 index is seen opening to open 20 to 31 points, or as much as 0.5 percent, lower on Friday, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* The FTSE 100 closed up 62.43 points, or 1 percent at 6,634.36 on Thursday, its highest close since May 30, while Wall Street's Dow .DJI registered a new historical intraday high as bullish economic data in Britain and the U.S. calmed fears that the global economy may not be ready for a wind down in stimulus.

Nikkei retreats from 8-wk high on profit-taking before election

TOKYO, July 19 | Fri Jul 19, 2013 7:15am BST
(Reuters) - Japan's Nikkei share average dropped in very choppy trade on Friday after climbing to an eight-week peak earlier in the session, with traders citing selling of futures led by global macro funds before the upper house election this weekend.

The benchmark Nikkei fell 1.5 percent to 14,589.91, after trading as low as 14,413.28 and as high as 14,953.29, a level not seen since May 24. Yet the index rose 0.6 percent on the week, its fifth straight weekly gain.

The broader Topix slipped 0.8 percent to 1,211.98.

FTSE100 firmly lower in early deals, led down by the miners

GBP Public Sector Net Borrowing 10.2B 9.4B 10.5B

FTSE100 remained lower at midday, with miners a drag

CAD Core CPI m/m -0.2% -0.2% 0.2%

CAD CPI m/m 0.0% 0.2% 0.2%

Late rally helps the FTSE100 end the session little changed

Have a great weekend all!

Keep cool.... ;)

G.