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  • Italy's budget rejected by European Commission

    October 23, 2018 1:14 PM 12

    The executive arm of the European Union says Italy's budget contains excessive spending for a country where debt is 130% of GDP. On Monday, Italy had said it would stand by its budget and refuse to cut spending, undeterred by its debt reaching 130% of GDP. That level of debt is more than twice the European Union limit of 60% and second only to Greece

  • Morrisons faces 'vast' data leak compensation payment

    October 22, 2018 1:12 PM 14

    The supermarket chain has lost a Court of Appeal challenge against a ruling that it was partly liable for the breach, which saw staff details posted online. Some 5,518 former and current employees said the breach had exposed them to the risk of identity theft and potential financial loss. They also said Morrisons was responsible for breaches of privacy

  • 'Brexit fears' force O2 to postpone £10bn flotation

    October 22, 2018 11:59 AM 16

    Parent Telefonica explored a London listing for the mobile operator in 2016, after a merger with rival operator Three collapsed. The mobile operator had been expected to list on the London Stock Exchange in this year following 4G and 5G spectrum auctions in April, but sources told the Press Association that those plans are now on hold. The decision to put off its Initial

  • Ebay sues Amazon over claims it poached sellers

    October 18, 2018 6:11 AM 12

    Ebay accuses the Seattle-based firm of an 'orchestrated, coordinated, worldwide campaign' to lure away its sellers. The lawsuit alleges that Amazon representatives signed up for eBay accounts and sent messages to persuade users to sell their goods on Amazon, which eBay said violated its user agreement. Ebay described it as an "orchestrated, coordinated

  • Manchester United shares rise amid Saudi prince takeover talk

    October 15, 2018 2:21 PM 15

    It claimed the prince was interested in supporting the purchase of a major stake worth about £3bn or a full takeover. The paper said he was keen to take on the spending power of fierce local Premier League rivals Manchester City, owned by Abu Dhabi's Sheikh Mansour for the past decade. The Glazer family, which has controlled United since 2005, was yet to comment

  • Economic growth 'boosted in part by warm weather'

    October 10, 2018 8:19 AM 21

    The Office for National Statistics (ONS) said retail, food and drink production and housebuilding all helped contribute to the performance following a series of challenges. It credited a hot summer after builders and retailers were hit by the effects of two so-called 'Beast from the East' weather systems earlier in the year. The cold snaps dampened consumer

  • High street sports titans ride into battle for Evans Cycles

    October 2, 2018 4:45 PM 16

    JD Sports Fashion and Sports Direct are competing with Halfords to take control of Evans Cycles, Sky News learns. Sky News has learnt that JD Sports Fashion and Sports Direct International both tabled indicative offers for Evans last week, pitting them against Halfords and a number of financial investors. News of JD Sports' and Sports Direct's interest

  • Canada and US agree last-minute trade deal

    October 1, 2018 6:18 AM 14

    Negotiators agreed a revamped arrangement as a looming deadline threatened the future of a 24-year old three-country pact. The $1.2tn open trade zone had been on the verge of collapse after 24 years - with Canada facing the prospect of being left out of a deal between the US and Mexico. But with an overnight deadline approaching, negotiators reached

  • Tesla boss Elon Musk sued for 'fraud' by US regulator

    September 27, 2018 8:36 PM 14

    The US Securities and Exchange Commission has filed a lawsuit against Tesla's chief executive accusing him of securities fraud. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Tesla's chief executive accusing him of securities fraud. The regulator said Mr Musk made a series of "false and misleading" tweets and he "knew or was reckless

  • Ex-BHS owner Dominic Chappell loses court appeal

    September 21, 2018 10:04 AM 15

    Judge Christine Henson QC said after dismissing the appeal at Hove Crown court that she would now re-examine the £50,000 fine issued against Chappell for the three convictions. Chappell was convicted of three charges in January, after being found guilty of failing to disclose details to the pensions watchdog as part of its investigation into the collapse