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April 19, 2016 12:55 PM Associated British Foods plc (ABF)

Being an international business has its complications as (ABF) found out during the first half of its financial year. A weak euro meant buying trendy clothes in dollars and selling them in the single currency and pounds damaged profits at budget retail chain Primark. It wasn't as bad as feared, however, and even the beaten-up sugar business did better 20

April 19, 2016 6:53 AM NONSENSE! George Osborne's Brexit sums add up to 'gobbledegook'

BRAIN-twisting figures claiming to prove that Britain will be worse off outside the EU were mocked as “gobbledegook” last night. The lengthy algebraic formulas in a Whitehall document published by Chancellor George Osborne were used by Treasury economists to forecast the impact of a Brexit. None included figures used to arrive at their conclusions – that leaving 21

April 19, 2016 6:35 AM Penneys owner beats estimates with 3% jump in profits

Associated British Foods reports better than expected first-half results Associated British Foods, owner of the Primark clothing chain, maintained full-year guidance after it beat forecasts with a 3 per cent rise in first-half profit. The group, which also has major sugar, grocery, agriculture and ingredients businesses, said on Tuesday it made an underlying 21

April 18, 2016 11:10 PM Osborne points to £36bn Brexit black hole but opponents brand claim as unbelievable

Mr Osborne focused his assessment on the mid-placed Canada-style model, which has previously been championed by leading Brexiteer Boris Johnson, the London mayor. In this scenario, the UK economy would become 6.2 per cent smaller by 2030, the equivalent of £4,300 per household. "Under any alternative, we'd trade less, do less business and receive less investment 17 1

April 18, 2016 11:10 PM Osborne's 3million migrant clanger: Treasury's doom-laden report on perils of Brexit assumes RECORD migration figures

Tory MPs tore into George Osborne last night over a pro-EU dossier that says migration will add three million to the population. They accused the Chancellor of making ‘unbelievable’ claims that families would be hammered and the nation left permanently poorer by leaving the Brussels club. Ministers and two former chancellors said he was treating voters 34

April 18, 2016 2:28 PM FTSE LIVE: Footsie off lows as US stocks rally despite weak oil prices after Doha meeting deal failure

14.50: The Footsie held off its lows in late afternoon trading as US stocks rallied from opening falls thanks to some upbeat US corporate earnings, and as crude prices eased off lows hit after a key oil producer meeting at the weekend failed to agree a plan to curb global oversupply. With around an hour and three-quarters of trading to go in London 42

April 18, 2016 7:44 AM George Osborne: EU exit would make UK 'permanently poorer'

The UK would be "permanently poorer" outside the European Union, Chancellor George Osborne has warned ahead of the in-out vote on membership on 23 June. A Treasury analysis on the cost of an EU exit will say UK national income could be 6% smaller - the equivalent of £4,300 a year per household - by 2030. Mr Osborne said the report, being published on Monday 23

April 18, 2016 7:18 AM Botched Doha deal undermines OPEC credibility, oil prices tumble

SINGAPORE Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled 26

April 17, 2016 11:01 PM Parents set to be disappointed as more children miss out on first choice schools

MANY Worcester parents are set to be disappointed today when they find out if their children have a place at their preferred primary schools. Worcestershire County Council has revealed that nearly 13 per cent of children have missed out on their first choice primary school - an increase of three per cent on last year and six per cent on 2014. More children 23 1

April 17, 2016 1:51 PM Ecuador earthquake: 10,000 troops deployed as rescue begins

Rescue efforts are under way in Ecuador after the country suffered its worst earthquake in decades, with at least 77 people confirmed dead. Some 10,000 troops and 3,500 police are being deployed in the affected areas. The powerful magnitude-7.8 quake struck early on Saturday evening and was felt as far away as neighbouring Colombia. Coastal areas in the north-west 23