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Monarch airline agrees £165m investment from Greybull

monarch

UK airline Monarch has settled worries over its immediate future by agreeing a £165m investment from Greybull Capital. The fresh financing has allowed the airline to renew its membership of the Air Travel Organisers’ Licensing (Atol) scheme – the scheme that refunds customers if a travel firm collapses. It also means the airline can invest in new aircraft. Greybull Capital ...

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Pound sees further volatile trading

POUND

The pound is higher in early Asian trading, regaining some of the ground lost from a sharp drop late on Tuesday. The currency was trading at $1.2259, up 0.8% from its fall the previous day. On Tuesday, it had fallen more than 2%, dropping below $1.21, while against the euro it fell below €1.10. The pound has now fallen about ...

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Toyota recalls 340,000 Priuses globally to fix parking brake issue

A woman is reflected on a screen showing Toyota Motor Corp's Prius hybrid car at the company's showroom in Tokyo, Japan June 14, 2016.    REUTERS/Toru Hanai/File Photo

Toyota Motor Corp (7203.T) said on Wednesday it was recalling around 340,000 of its latest Prius gasoline hybrid model in Japan and overseas to fix a parking brake issue. The recall covers models produced between August 2015 and October 2016, and affects around 210,000 vehicles in Japan and 94,000 in North America, Toyota said, adding that the balance would be ...

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Investors demand answers, new phone from Samsung after Note 7 fire fiasco

Signage is seen at the Samsung 837 store in the Meatpacking District of Manhattan, New York, U.S., October 10, 2016.  REUTERS/Andrew Kelly

Samsung Electronics Co Ltd needs to quickly find the cause of the fires that led to it pulling its Galaxy Note 7 smartphones and get a new model to market, investors said on Wednesday, as shares in the company slipped to a one-month low. The world’s top smartphone maker on Tuesday scrapped the $882 flagship smartphone in what could be ...

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Can the UK take over existing EU trade agreements?

lo

Building British trade outside the EU is a priority for Theresa May’s government, so existing deals could be a useful starting point to any negotiation. But could the UK take over existing trade agreements the EU has with other countries, under “grandfather rights”, the phrase for allowing old rules to continue to apply amidst new arrangements? The short answer is ...

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Europe:Desperate uranium miners switch to survival mode despite nuclear rebound

The Tamgak open air uranium mine is seen at Areva's Somair uranium mining facility in Arlit, Niger, September 25, 2013.  REUTERS/Joe Penney/File Photo

The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent of the more than 400 ...

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UK faces economic turbulence during Brexit process: Hammond

Britain's Chancellor of Exchequer Philip Hammond watches Prime Minister Theresa May speak at the annual Conservative Party Conference in Birmingham, Britain, October 2, 2016. REUTERS/Toby Melville

The British economy will face turbulence as the government negotiates the country’s exit from the European Union, finance minister Philip Hammond said on Monday. On Sunday, Prime Minister Theresa May said Britain would begin formal divorce talks with the EU by the end of March next year, and Hammond said he was in favor of getting a deal done “as ...

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Europe: Desperate uranium miners switch to survival mode despite nuclear rebound

The Tamgak open air uranium mine is seen at Areva's Somair uranium mining facility in Arlit, Niger, September 25, 2013.  REUTERS/Joe Penney/File Photo

The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent of the more than 400 ...

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LSE-Deutsche Boerse merger plan being investigated

stockexchangereuters

The European Commission is planning to open an in-depth investigation into the planned £21bn merger of London’s Stock Exchange and Germany’s Deutsche Boerse. The scheme would combine the stock exchanges of the UK, Germany and Italy and some big clearing houses to create Europe’s largest exchange operator. Commissioner Margrethe Vestager said it had to make sure that financial markets remained ...

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Sainsbury’s sales slip as food prices continue to fall

sainsbury's1

Sainsbury’s has reported a second consecutive quarter of falling sales, blaming falling food prices. Excluding fuel, like-for-like sales, which strip out the impact of new store openings, fell 1.1% in the 16 weeks to 24 September. Total sales fell 0.4%. Despite the drop, the UK’s second-largest supermarket said it was continuing to make progress. Chief executive Mike Coupe said he ...

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