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  • Sterling hits 3-week low, FTSE gains as Conservative lead slumps

    May 26, 2017 12:27 PM 21

    * Graphic: sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote (Adds more on market view of Labour win, FTSE reaction) By Patrick GrahamLONDON, May 26 (Reuters) - Sterling dived more than half a percent against the dollar

  • Bank Holiday: When is the busiest time on the roads?

    May 25, 2017 11:19 PM 15

    More than 15 million "leisure" car journeys are expected to be made over the spring bank holiday weekend, while rail engineering works also take place. Roads are expected to be busiest on Friday between 13:00 and 20:00 BST. The RAC was expecting the busiest late May bank holiday on the roads in four years with "bumper-to-bumper" congestion. And traffic

  • BA owner attacks Heathrow's plan to build third runway across M25, saying it would add £3bn to 'over-inflated' bill

    May 25, 2017 11:08 AM 7

    The owner of British Airways has attacked Heathrow’s plan to build a third runway across the M25, saying it would add £3bn to an ‘over-inflated’ bill. Willie Walsh, chief executive of IAG, which owns BA, said Heathrow’s third landing strip was over-complicated and would mean extra costs, saying it should be shorter, to make sure it doesn’t breach the motorway

  • Lotus sold to Volvo-owning Chinese firm Geely, as Proton deal hands it Britain’s oldest sports car maker

    May 25, 2017 11:07 AM 8

    One of Britain’s oldest sports car makers, Lotus, is being bought by the Chinese. China’s Geely, which owns the London Taxi Company and Sweden’s Volvo Car Group, is buying a 49.9 per cent stake in Proton, the company that owns Lotus. Lotus, which made a loss of £27.6m in the 12 months to the end of March 2016, is a leader in composite materials and lightweighting

  • UK growth revised down for first quarter to 0.2 per cent as consumer-facing sectors toil

    May 25, 2017 9:30 AM 12

    The British economy slowed more than previously thought at the start of the year as the performance of consumer-facing businesses worsened. The UK's GDP grew by only 0.2 per cent in the first quarter, according to the Office for National Statistics (ONS), down from the preliminary estimate of 0.3 per cent. A slowdown in Britain's dominant services sector

  • UK slowdown worse than feared as GDP growth revised lower

    May 25, 2017 8:33 AM 8

    The UK economy grew by just 0.2% in the first quarter of 2017, lower than an initial estimate of 0.3%, revised official figures show. The Office for National Statistics (ONS) said the dominant services sector - which represents more than three quarters of output - had been weaker than anticipated. It follows growth of 0.7% in the fourth quarter of 2016 and means

  • Dixons Carphone ramping up same-day mobile phone repair service to keep customers coming back to stores

    May 24, 2017 9:07 PM 7

    Dixons Carphone is ramping up its same-day mobile phone repair service to keep customers coming back to stores. The electrical goods giant already offers the ability to fix a phone in some shops, but wants a bigger bite of the market. Offering repairs is part of Dixons Carphone’s attempt to set itself apart from its rivals. It has already said delivery

  • Dixons Carphone posts rise in same-store sales

    May 24, 2017 6:56 AM 7

    LONDON--Dixons Carphone PLC (DC.LN) Wednesday reported a 2% rise in like-for-like revenue during the fourth quarter of fiscal 2017 and lowered the top-end of its underlying pretax profit guidance range. The electrical and telecommunications retailer said group reported revenue for the 16 weeks ended April 29, was up 6% and up 9% for the full year. Like-for-like

  • Moody's downgrades China, warns of fading financial strength as debt mounts

    May 24, 2017 6:43 AM 11

    SHANGHAI/BEIJING Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise. The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, comes

  • M&S annual profits fall by 64% as revamp costs bite

    May 24, 2017 6:39 AM 15

    Profits at Marks and Spencer fell by almost two thirds to £176.4m last year following a costly business overhaul. The retailer said that a decline in clothing sales and higher costs from opening new food stores were partly to blame for the 64% fall. Chief executive Steve Rowe revealed that like-for-like sales in his first full year in charge fell by 1.9% in the UK. The fact that Easter