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Inflation surprise as computer game prices drop

Image copyrightGETTY IMAGES Inflation growth slowed sharply in August to 1.7% after computer game prices dropped and clothing prices were slow to recover from the summer sales. The Consumer Prices Index measure of inflation fell below 2.1% in July, according to the Office for National Statistics. It is the lowest rate …

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Lloyd’s ‘devastated’ at sexual misconduct report

Image copyrightGETTY IMAGES Lloyd’s of London’s boss has said he was “devastated” by a report detailing evidence of sexual harassment and assault against women at the company. Chief executive John Neal admitted that when he saw an investigation by Bloomberg : “We thought there were signs that it was a reality.” …

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British Airways pilots call off next week’s strike

Image copyrightGETTY IMAGES British Airways pilots have called off the next strike in their dispute, which had been scheduled for 27 September. Last week, a two-day stoppage called by the pilots’ union, Balpa, forced BA to cancel almost all its flights. The strike followed failed negotiations between the union and …

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Why the Fed’s interest rate move matters

Image copyrightREUTERS The Federal Reserve, the US central bank, is expected to cut its main interest rates at a meeting in Washington on Wednesday. If it does, the aim will be to stimulate the US economy and get inflation closer to the Fed’s target of 2%. But it will have …

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Estate agents urged to tell buyers about air pollution

Image copyrightGETTY IMAGES Estate agents have been urged to automatically disclose air pollution figures to home buyers. The industry trade body said providing this information should now be standard practice. “Air quality is now public information, and it will never not be again,” said Mark Hayward, chief executive of NAEA …

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Hong Kong tries and fails to hire PR firms to rebuild image

Image copyrightGETTY IMAGESImage captionThere have been violent clashes on the streets of Hong Kong since June Hong Kong’s government contacted eight public relations firms to try and rebuild the embattled city’s image, but all of them declined the contract. The city has seen months of unrest sparked by a proposed …

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Apple Irish tax case appeal heard by EU court

Image copyrightGETTY IMAGESIreland wants to demonstrate to multinational investors that the country is a safe and predictable place to do business An EU court is hearing appeals against a decision to order Ireland to recover £11.5bn of unpaid taxes from Apple. In 2016, the European Commission found an agreement between …

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Helium shortage: ‘Prices just keep going up and up’

Image copyrightGETTY IMAGES If you want to buy a helium-filled balloon for a celebration, then it’s likely you’ll be paying a bit more for the privilege. “Prices just keep going up and up,” says Steve Durnford, director of family business Balloons of London. The store, which sells party balloons to …

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Purdue Pharma files for bankruptcy in the US

Image copyrightGETTY IMAGES US drug-maker Purdue Pharma has filed for bankruptcy protection, as part of efforts to deal with thousands of lawsuits that accuse the firm of fuelling the US opioid crisis. The company’s board approved the Chapter 11 filing on Sunday. The move is designed in part to resolve …

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Oil prices soar after attacks on Saudi facilities

Oil prices ended nearly 15% higher on Monday, with the Brent benchmark seeing its biggest jump in about 30 years. The rise came after two attacks on Saudi Arabian facilities on Saturday knocked out about 5% of global supply. Brent crude initially surged 20% at the start of trading, but …

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App that cancels subscriptions launches in UK

Image copyrightJOSHUA BROWDERJoshua Browder’s first creation was an algorithm that fights parking fines. A service which automatically cancels subscriptions at the end of the free trial period has launched in the UK. It was developed by Josh Browder, who as a teenager developed an algorithm called Do Not Pay, which …

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Thomas Cook ‘racing to finalise rescue deal’

Image copyrightGETTY IMAGES Thomas Cook has said it is “focused on completing” a rescue deal amid reports that some lenders could vote against the terms of the agreement. The troubled travel firm is understood to be in last minute negotiations with bondholders to approve a takeover by Chinese firm Fosun …

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Saudi oil attacks: Will fuel prices go up?

Image copyrightAFPConsumers may not see an immediate increase in the price of fuel Saudi Arabia’s state-owned company Aramco is the world’s biggest oil producer, generating 10% of the world’s oil, but it is also one of the world’s most profitable businesses. For a drone attack to have knocked half of …

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General Motors faces strike by almost 50,000 staff

Image copyrightREUTERS Almost 50,000 General Motors workers have been called out on strike after America’s biggest carmaker failed to reach a pay and conditions deal with the United Auto Workers union (UAW). “We do not take this lightly. This is our last resort,” UAW vice-president Terry Dittes told reporters in …

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Saudi Arabia oil production reduced by drone strikes

Abqaiq is the site of Aramco’s largest oil processing plant Saudi Arabia’s oil production has been severely disrupted by drone attacks on two major oil facilities run by state-owned company Aramco, reports say. Sources quoted by Reuters and WSJ said the strikes had reduced production by five million barrels a …

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Saudi Arabia oil production reduced by drone strikes

Abqaiq is the site of Aramco’s largest oil processing plant Saudi Arabia’s oil production has been severely disrupted by drone attacks on two major oil facilities run by state-owned company Aramco, reports say. Sources quoted by Reuters and WSJ said the strikes had reduced production by five million barrels a …

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Pound climbs to highest level since July

Image copyrightGETTY IMAGES The pound has hit its highest level against the dollar since July amid hopes a no-deal Brexit can be avoided. Sterling jumped more than 1% on Friday to over $1.24 against the dollar, its highest level in seven weeks. The pound was boosted after a report in …

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‘My boss lets me set my own salary’

Image copyrightGRANTTREECecilia Manduca works at a firm where each staff member gets to decide their own pay Where 25-year-old Cecilia Manduca works there is a “pay self-assessment process”. Put simply, the workers there decide how much they are worth and should be paid. Recently she awarded herself a £7,000 pay …

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BA cancels 27 Sept flights ahead of next pilot strike

Image copyrightREUTERS British Airways has started emailing passengers to cancel flights two weeks ahead of another strike by pilots. The industrial action on 27 September is expected to affect hundreds of flights and tens of thousands of passengers. The dispute is over a pay-rise which pilots say is not high …

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US gun laws must be stricter, say business chiefs

Image copyrightREUTERSLevi Strauss boss Chip Bergh was one of the signatories The leaders of 145 US companies have sent a letter urging Congress to enact stricter gun laws as pressure builds on lawmakers to respond to gun violence. The letter  calls on Congress to expand background checks and create new …

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Huawei chief offers to share 5G know-how for a fee

Image copyrightGETTY IMAGESRen Zhengfei says a Western buyer could modify his firm’s products to meet the US’s security concerns Huawei’s chief executive has proposed selling its current 5G know-how to a Western firm as a way to address security concerns voiced by the US and others about its business. Ren …

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Eurozone gets fresh help to bolster flagging growth

Image copyrightGETTY IMAGESMario Draghi said the ECB had cut its forecasts for both inflation and economic growth The European Central Bank has unveiled fresh stimulus measures to bolster the eurozone, including cutting a key interest rate. The deposit facility rate, paid by banks on reserves parked at the ECB, was …

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