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Jimmy Choo bought by Michael Kors in £896m deal


Luxury shoemaker Jimmy Choo has been bought by Michael Kors Holdings in a deal which values the firm at £896m. The British firm, which was put up for sale in April, had attracted attention from a number of suitors. As well as shoes, Jimmy Choo produces a range of luxury goods. Jimmy Choo shoes featured the 90s TV hit show, ...

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New diesel and petrol vehicles to be banned from 2040 in UK


New diesel and petrol cars and vans will be banned in the UK from 2040 in a bid to tackle air pollution, the government is set to announce. Ministers will also unveil a £255m fund to help councils tackle emissions from diesel vehicles, as part of a £3bn package of spending on air quality. The government will later publish its ...

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Taylor Review: UK should end cash-in-hand economy


The author of a government review into work practices is calling for an end to the “cash-in-hand economy”. Matthew Taylor, whose report is out on Tuesday, said cash jobs such as window cleaning and decorating were worth up to £6bn a year, much of it untaxed. The review also recommends that firms which have a “controlling and supervisory” relationship with ...

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Europe: Boeing delivers fewer planes in second quarter

A Boeing 737 MAX is seen on the static display, before the opening of the 52nd Paris Air Show at Le Bourget airport near Paris, France, June 16, 2017. REUTERS/Pascal Rossignol

Boeing Co (BA.N) said on Friday it delivered 183 jetliners in the second quarter, down from 199 a year earlier. The company delivered 123 of its single-aisle 737s in the latest quarter, compared with 127 in the same period a year ago. Deliveries of its 787 Dreamliners fell to 33 in the three months ended June, from 38. The world’s ...

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Europe: Deutsche Bank sees progress toward IPO of asset management arm: memo

A Deutsche Bank logo adorns a wall at the company's headquarters in Frankfurt, Germany June 9, 2015. REUTERS/Ralph Orlowski/File Photo

Deutsche Bank (DBKGn.DE) said that it is making progress in its planned partial initial public offering (IPO) of its asset management unit, according to a recent memo to staff. Germany’s largest lender announced its plans for a partial IPO of the unit in March as part of a broader restructuring of the bank reeling from law suits and trading scandals. ...

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UK inflation rate unexpectedly rises to four-year high


UK inflation resumed its upward march last month, accelerating more than forecast to the fastest pace in four years. An increase in prices for computer games, laptops and package holidays – partly reflecting the impact of the weaker pound – lifted the inflation rate to 2.9%, the highest since June 2013. Economists had forecast that it would remain at 2.7%. ...

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May resumes talks to keep power amid calls to soften Brexit


Theresa May is under growing pressure to abandon her plan for a hard Brexit as she tries to stitch together a deal with Northern Ireland’s Democratic Unionists that will keep her Conservative Party in power. Two former Tory prime ministers broke cover on Monday to demand that May reassess her approach to leaving the European Union after she lost her ...

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World stocks march on as Fed rate hike looms, dollar steady

Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, June 13, 2017. REUTERS/Staff/Remote

Stocks rose on Wednesday, but worries about stretched valuations and caution before a near-certain rate hike by the U.S. Federal Reserve kept their gains in check, while the dollar steadied against a basket of major currencies. The widely expected quarter-point interest rate hike will take the Fed funds target rate above 1 percent for the first time since the immediate ...

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UK service sector growth picks up in April


Activity in the UK’s service sector accelerated in April, with new work growing at its fastest pace this year, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for services rose to 55.8, its highest level for four months. It has now been above the 50 level that marks the divide between growth and contraction for nine months ...

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Goldman’s Blankfein says London could stall due to Brexit – BBC

CEO of Goldman Sachs Lloyd Blankfein in the Manhattan borough of New York September 29, 2014.    REUTERS/Carlo Allegri

London’s progress as a financial center could stall because of the upheaval Brexit will bring to the industry, Goldman Sachs (GS.N) Chief Executive Officer Lloyd Blankfein was quoted as saying by the BBC. When asked whether London’s long-term expansion over the past three decades would go into reverse, Blankfein said: “I don’t think it will totally reverse.” “It will stall, ...

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