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  • Exclusive: Argentina's YPF says Repsol deal will attract oil investment

    November 27, 2013 11:00 PM 26

    BUENOS AIRES (Reuters) - The compensation deal being negotiated between Argentina's YPF (YPFD.BA) and Spain's Repsol (REP.MC) will open opportunities for foreign companies to invest in the South American country's vast untapped oil and natural gas resources, the head of YPF, Miguel Galuccio, told Reuters on Wednesday. The board of Repsol unanimously

  • Engineering work set to cause Christmas disruption

    November 27, 2013 7:49 PM 25

    27 November 2013 Last updated at 19:46 GMT Commuters have been warned that major engineering works will cause disruption to train services during the Christmas period. The Gatwick Express will close completely and journeys between Brighton and London could take two-and-a-half hours. Commuters in Kent are also set to face major disruption, with a £19m upgrade

  • RBS boss: no 'systematic' profiting from troubled firms

    November 27, 2013 6:25 PM 24

    LONDON (Reuters) - Royal Bank of Scotland's (RBS.L) boss said he did not believe the UK state-backed bank had conducted a "systematic" effort to profit from its troubled business customers. RBS, which is 82 percent owned by the government, has been accused by government adviser Lawrence Tomlinson of pushing struggling small firms into its "turnaround"

  • Yellow Pages firm Hibu in administration

    November 27, 2013 5:40 PM 17

    The parent company that owns Yellow Pages, Hibu, has gone into administration. Hibu, which rebranded itself from Yell in 2012, has 12,000 employees and has been struggling with £2.3bn of debts. The telephone directory and digital company has appointed the financial services firm Deloitte to manage the administration. The Yellow Pages business and other

  • Worcestershire nuclear bunker 'houses drug factory'

    November 27, 2013 3:25 PM 33

    A large-scale cannabis farm has been found in an underground former nuclear bunker, West Mercia Police have said. More than 400 cannabis plants with an estimated street value of £650,000 were seized from Drakelow Tunnels, near Kidderminster in Worcestershire. A 45-year-old man has been arrested in a separate dawn raid in Kidderminster. During the Cold War, the tunnels

  • UK retail sales disappoint in November - CBI

    November 27, 2013 11:07 AM 29

    LONDON (Reuters) - British retail sales slowed unexpectedly this month as mild weather deterred shoppers from buying winter clothes, a survey by the Confederation of British Industry indicated on Wednesday. The sales balance in the CBI's monthly distributive trades survey dropped to +1 from +2 in October. That was its lowest since June and wrong-footing

  • Consumers drive UK growth again in Q3, business investment up

    November 27, 2013 9:42 AM 28

    As initially estimated, gross domestic product between July and September grew by 0.8 percent from the second quarter, its fastest pace in more than three years, the Office for National Statistics said. In year-on-year terms, growth was 1.5 percent, also unchanged from last month's preliminary estimate by the ONS. Business investment grew 1.4 percent

  • Nine million in 'serious' debt across the UK

    November 27, 2013 6:55 AM 14

    Nearly nine million people across the UK are living with serious debt problems, according to a new report. The Money Advice Service (MAS) also said very few people were making any attempt to get professional help. The problem is particularly acute in five English cities, where more than 40% of the population is struggling to repay debt. MAS, which is backed

  • Lotus multi-million pound plan confirmed in Norfolk

    November 27, 2013 6:44 AM 14

    Business Secretary Vince Cable has announced a multi-million pound investment to create 313 jobs to boost production at Lotus cars in Norfolk. The sports car maker is to receive a £10.4m grant from the Regional Growth Fund to develop the Hethel plant. This had been put on hold in April when former chief executive Dany Bahar left and takeover talks began

  • Scotgold to cut back Tyndrum mine project

    November 27, 2013 3:09 AM 20

    He attributed difficulties in ­raising funding for the project primarily to a plunge in the gold price in April, from about $1600 to $1300-an-ounce, and said even the world's largest miners had been affected by this. Mr Bentley said of the fall in the gold price: "It had a big impact on the [project] economics, but what it did destroy was investor sentiment