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  • Nine million in 'serious' debt across the UK

    November 27, 2013 6:55 AM 25

    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 22

    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 29

    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

  • Government wins key vote on ring-fenced banking

    November 26, 2013 11:48 PM 30

    The government has secured backing for its plans to ring-fence banks' activities, despite having its majority reduced. Peers challenged the government over its proposals for ring-fencing the retail and investment operations of banks during report-stage consideration of the Financial Services (Banking Reform) Bill on 26 November 2013. One member of the Parliamentary

  • No alternative to high speed HS2: Transport Secretary McLouglin tells MP watchdogs as his 50,000 page Bill steams towards statute books

    November 26, 2013 7:27 PM 23

    There is no alternative to the controversial high speed HS2 project if Britain’s rail network is to avoid gridlock, Transport Secretary Patrick McLoughlin insisted today. When asked by MP watchdogs if he was ‘completely satisfied‘ the £50billion line from London to Birmingham and beyond was the best option to increase capacity, he declared: ‘I am’. He also suggested

  • Primark Owner ABF Eyes £250m Tilda Rice Deal

    November 26, 2013 5:16 PM 39

    The owner of Primark is among the contenders to buy Tilda, the UK's biggest rice brand, Sky News understands. The FTSE-100 group which owns Primark, the thriving clothing retailer, is examining a £250m takeover bid for Tilda, one of Britain's most popular food brands. Sky News has learnt that Associated British Foods (ABF) has registered an interest

  • Royal Mail and CWU extend deadline for pay deal

    November 26, 2013 1:07 PM 34

    LONDON (Reuters) - The deadline for an agreement between Britain's newly privatised Royal Mail (RMG.L) postal service and union members on pay and working conditions has been extended to December 3. The Communication Workers Union (CWU), which represents most Royal Mail staff, said on Tuesday there had been "significant progress" in reaching an agreement

  • Gatwick Airport sees profits and passenger traffic rise

    November 26, 2013 8:41 AM 24

    Profits and passengers numbers are up at the UK's second-largest airport, Gatwick. Pre-tax profits in the six months to 30 September were £127.3m, up from £107.2m in the same period last year. The figures were boosted by continued strong growth from budget European airline Easyjet, although Gatwick has also seen the start of several new international

  • Large fire tackled at Vale Business Park, Llandow

    November 26, 2013 7:11 AM 36

    About 60 firefighters are tackling a large blaze at an industrial estate in the Vale of Glamorgan. Six pumps, four water bowsers and other appliances are being used in the operation at the Vale Business Park in Llandow, following a call at 05:14 GMT. South Wales Police said the estate was closed and it was placing cordons in the area, but no roads have been closed

  • Atlantic Array wind farm dropped by developer

    November 26, 2013 1:51 AM 39

    Developer RWE Innogy is pulling the plug on the 240-turbine Atlantic Array project, the Department of Energy and Climate Change (DECC) told the BBC. The scheme, which had not yet received the go-ahead, had attracted criticism with environmentalists worried about its impact on marine wildlife in the Bristol Channel. The Atlantic Array was planned in an area 200 sq km, (77 sq miles)