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Finance

House prices rise 1.9% - Halifax

House prices rise 1.9% - Halifax House prices rise 1.9% - Halifax

The Press Association-House prices have recorded their strongest quarterly rise in three years in a further sign that efforts...
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Starbucks tax offer 'too little, too late' for Britain

Starbucks tax offer 'too little, too late' for Britain Starbucks tax offer 'too little, too late' for Britain

AFP-Despite pledging to pay millions of pounds in extra tax in Britain, Starbucks faces a battle to restore its reputation...
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UBS 'manipulated Swiss franc rates since 2001'

UBS 'manipulated Swiss franc rates since 2001' UBS 'manipulated Swiss franc rates since 2001'

AFP-Swiss banking giant UBS, which last week was slapped with $1.5 billion in fines for manipulating global interest rates,...
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No clean bill of health for MoD

No clean bill of health for MoD No clean bill of health for MoD

Auditors have refused to give the Ministry of Defence's accounts a clean bill of health for the sixth year running. The Press...
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Britain storms out of recession but cautious on outlook

Britain storms out of recession but cautious on outlook
  AFP- Britain powered out of its longest double-dip recession since the 1950s after its economy returned to growth in the...
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Virgin Media gets Olympics lift

Virgin Media gets Olympics lift
  The Press Association- Olympic champions Mo Farah and Usain Bolt helped Virgin Media deliver its biggest quarterly increase...
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Bank of England divided over QE

Bank of England divided over QE
  The Press Association-Bank of England policymakers are divided over the benefits of pumping more emergency cash into the economy...
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Germany's Schaeuble confident of go-ahead for eurozone pacts

Germany's Schaeuble confident of go-ahead for eurozone pacts
  AFP- Germany's Finance Minister Wolfgang Schaeuble said Monday he was confident the country's top court will not block the...
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Adnams gets boost from new beers

Adnams gets boost from new beers
  The Press Association- Brewer Adnams has toasted higher profits after a range of new beers helped it cope with "the most...
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HSBC hid $16 bn in Iran transactions: US Senate report

HSBC hid $16 bn in Iran transactions: US Senate report
  AFP-Global banking giant HSBC and its US affiliate concealed more than $16 billion in sensitive transactions to Iran, violating...
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German finance minister calls for stronger EU

German finance minister calls for stronger EU
  AFP-German Finance Minister Wolfgang Schaeuble called for EU member states to hand more powers to the European Union in "major...
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Services sector growth welcomed

Services sector growth welcomed
  The Press Association-A run of dire economic data that has spooked the UK's recovery hopes has been halted with a decent performance...
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Payday lender Wonga plans flotation

Payday lender Wonga plans flotation
  The Press Association- Payday lender Wonga is reported to be considering a US stock market flotation that could value the business...
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UK recession deepens as official GDP shrinks

UK recession deepens as official GDP shrinks
AFP-Britain's recession is worse than previously thought, as revised official figures showed on Thursday that the economy shrank...
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Marks & Spencer profits plunge 19%, slashes target

Marks & Spencer profits plunge 19%, slashes target
  AFP-British clothing-to-food retailer Marks & Spencer on Tuesday announced a drop in annual profits in a "challenging economic...
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Travel

'Dither and delay' warning on HS2

'Dither and delay' warning on HS2 'Dither and delay' warning on HS2

The Press Associtaion-High speed rail between London and Birmingham might not be achieved in the 2020s because of...
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Wife's plea over man's Greek arrest

Wife's plea over man's Greek arrest Wife's plea over man's Greek arrest

The Press Association-An MP has voiced his concerns about the plight of a British national who was imprisoned while...
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Louvre ditches audio guides for Nintendo consoles

Louvre ditches audio guides for Nintendo consoles Louvre ditches audio guides for Nintendo consoles

AP - The Louvre Museum is used to dealing with antiquities: Nearly all of its thousands of works of art date to 1848...
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French Concordia survivors get €2m payout

French Concordia survivors get €2m payout French Concordia survivors get €2m payout

AFP- The owner of the Costa Concordia cruise liner that ran aground off northwest Italy in January has paid more...
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Chicago hotel prices jump as summer begins

Chicago hotel prices jump as summer begins Chicago hotel prices jump as summer begins

(Relaxnews) - Hotel prices in the Windy City soared by 23 percent this month, according to new research by Trivago. Chicago...
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Sport

Vettel’s new partner? Raikkonen or Ricciardo

Vettel’s new partner? Raikkonen or Ricciardo Vettel’s new partner? Raikkonen or Ricciardo

The decision to Sebastian Vettel’s new partner probably falls between Kimi Raikkonen and Daniel Ricciardo. Red Bull team boss Christian Horner...
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Mercedes plans new assault on Vettel: Infrared trick and louvers

Mercedes plans new assault on Vettel: Infrared trick and louvers
  Three long years of Silver Arrow lurched past the targets. There was nothing: a measly victory in 58 races. This year it runs better already clear:...
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Barcelona lose first La Liga game of season

Barcelona lose first La Liga game of season Barcelona lose first La Liga game of season

AFP-Barcelona suffered their first La Liga defeat of the season on Saturday when they slumped to a shock 3-2 loss at Real Sociedad. Barcelona...
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Wiggins may target Tour defence after all

Wiggins may target Tour defence after all Wiggins may target Tour defence after all

AFP-Bradley Wiggins says he is likely to defend his Tour de France title after all next year despite previously nominating the Giro d'Italia as...
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Messi in light training after injury scare

Messi in light training after injury scare Messi in light training after injury scare

AFP-Barcelona star Lionel Messi took part in light training on Thursday after being stretchered off with a knee injury during the 0-0 draw at home...
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Benitez tiptoes onto Chelsea tightrope

Benitez tiptoes onto Chelsea tightrope Benitez tiptoes onto Chelsea tightrope

AFP- Freshly appointed as Chelsea's latest interim coach, Rafael Benitez could be forgiven for wondering whether he has accepted a poisoned chalice. The...
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McIlroy makes late charge at Singapore Open

McIlroy makes late charge at Singapore Open
  AFP-World number one Rory McIlroy made a late charge up the leaderboard but still trailed Denmark's Thomas Bjorn by five shots after a marathon day...
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Tower of Polish power knocks down Murray in Paris

Tower of Polish power knocks down Murray in Paris
  AFP- Towering Polish qualifier Jerzy Janowicz upset Andy Murray 5-7, 7-6 (7/4), 6-2 on Thursday to complete the early exit of the elite from...
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Chelsea rage at referee's 'inappropriate language'

Chelsea rage at referee's 'inappropriate language'
  AFP- Chelsea have filed a complaint over "inappropriate language" allegedly used by referee Mark Clattenburg towards their players during their...
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Suspended Olympic badminton players appeal

Suspended Olympic badminton players appeal
  AFP-Four South Korean badminton players who were suspended for trying to throw matches at the London Olympics have appealed their penalties, the...
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Culture

Markets
House prices rise 1.9% - Halifax PDF Print E-mail
Wednesday, 06 February 2013 13:14


The Press Association-House prices have recorded their strongest quarterly rise in three years in a further sign that efforts to kick-start the market are working, Halifax said.

Prices in the three months to January were 1.9% higher than the previous quarter, showing the biggest increase in this measure of the underlying trend for three years, the latest study said.

On a month-on-month basis, prices edged down by 0.2% in January following increases in the previous two months.

However, prices were 1.3% higher than a year ago, marking the first annual increase in two and a quarter years.

Halifax said quarterly figures tend to give the clearest indication of what is happening in the market as they "smooth out" month-on-month volatility.

The study said Government efforts to boost lending, which include a multibillion-pound scheme launched in August, are likely to have contributed to a pick-up in home sales and house prices.

Martin Ellis, housing economist at Halifax, said that despite the signs of improvement, the tough economy and the pressure on household finances will continue to weigh down on housing demand. He said: "Overall, we expect continuing broad stability in house prices nationally in 2013."

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Adnams gets boost from new beers PDF Print E-mail
Wednesday, 22 August 2012 16:03

 

The Press Association- Brewer Adnams has toasted higher profits after a range of new beers helped it cope with "the most difficult year" it has faced.

The Suffolk-based firm said own-brewed beer volumes rose 5% in the six months to June 30, as sales through off-licences and supermarkets rose 13% and it held its prices for pub customers for the fourth year in a row.

Demand was boosted by new products such as pale ale Ghost Ship, a Diamond Ale to celebrate the Queen's Jubilee and a new low-alcohol beer.

While it cited industry figures that showed cask ale volumes were down 2%, Adnams managed to grow sales to its pub customers, even if volumes at its own 71 tenanted pubs, which are mainly in East Anglia, were slightly down amid the wash-out start to the summer.

Demand for its ales, including at 11 Cellar & Kitchen stores, helped operating profits rise 5.5% to £857,000, while turnover was up 5% to £25.8 million.

Chairman Jonathan Adnams, who is the fourth generation in his family to run the company, said: "We are pleased that against a market that is down somewhat, we have continued to grow beer volumes. It's the most difficult year we have faced in terms of encouraging people to part with their hard-earned cash."

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Thorntons to shut up to 180 shops PDF Print E-mail
Tuesday, 28 June 2011 11:43

 

 

Chocolate retailer Thorntons has dealt a further blow to the high street by announcing plans to close up to 180 stores.

The group said it will exit at least 120 outlets over the next three years as their leases expire, while it will also consider the future of an additional 60 shops over the same period.

The plan will leave Thorntons with around 180 to 200 company-owned stores, although in the majority of locations it hopes franchisees will open outlets.

It is the latest blow to the high street after the failure of chains such as Habitat and Oddbins in recent weeks.

Chains such as HMV, Game and JJB Sports, which have long been the mainstay of UK high streets, are also slimming down their store estates. And Mothercare said recently that it would axe 110 shops in order to focus its trading on out-of-town locations.

The Thorntons strategy review, led by new chief executive Jonathan Hart, will see the company increasingly focus on its commercial division, which sells Thorntons-branded chocolate through other retailers, and grow online sales.

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Lloyds set to announce job losses PDF Print E-mail
Sunday, 26 June 2011 18:53

 

 

 

 

Lloyds Banking Group will signal thousands more job cuts this week as part of a drive to save an extra £1 billion a year in costs.

It has been reported that as many as 15,000 posts could go under the plan, which will be unveiled by new chief executive Antonio Horta-Osorio on Thursday.

The latest blow to staff at the group, which is 41% owned by the taxpayer, adds to the estimated 27,500 jobs that have been lost since the group's creation from a controversial merger between Lloyds TSB and HBOS in early 2009.

The savings - on top of the £2 billion a year already being achieved following the HBOS takeover - are likely to focus on stripping away layers of management and lead to hundreds of job losses at its London head office.

Mr Horta-Osorio, the Portuguese-born banker who took the top post in March after being poached from rival Santander, is expected to prune the bank's overseas interests but will pledge to revive the Halifax brand and keep the Scottish Widows insurance arm, the Sunday Times reported.

He will also reveal that Lloyds is on course for an early exit from the Bank of England's special liquidity scheme, which was set up in 2008 as a lifeline for banks battling to raise finance during the credit crunch.

 

The loans must be repaid by January, when the Bank of England intends to close the scheme.

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