Poundland To Spend £55m On 99p Stores Buyout

Poundland has agreed a £55m takeover of discount rival 99p Stores, subject to clearance by competition authorities. Poundland, which has previously expressed an ambition to double its UK and Ireland network of more than 500 stores, said the deal comprised...

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China: Brit To Design World's Biggest Airport

China: Brit To Design World's Biggest Airport We use cookies to give you the best experience. If you do nothing we'll assume that it's ok. Close 1/3 Gallery: Brit to design Chinese Airport The world largest airport will be...

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Jamie Oliver To Sell Another Kind Of Stake

By Mark Kleinman, City Editor He has grown accustomed to telling amateur cooks how to prepare steaks, but the celebrity chef Jamie Oliver now has a very different kind of stake in mind. Sky News can reveal that Mr Oliver, the self-styled Naked Chef,...

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MPs Claim PwC Promoted Corporate Tax Avoidance

MPs have accused the accountancy firm PriceWaterhouseCoopers (PwC) of promoting "tax avoidance on an industrial scale". An investigation by the Commons' Public Accounts Committee (PAC) found the firm's "complex strategies and contrived structures"...

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Twitter Shares Soar As Revenue Almost Doubles

Twitter's share price rose almost 10% after-hours when the social network reported a near doubling in quarterly revenue, despite weaker than anticipated user growth. Its latest results showed Twitter raked in $479.1m (£312.5m) during the final...

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Poundland To Spend £55m On 99p Stores Buyout

Poundland has agreed a £55m takeover of discount rival 99p Stores, subject to clearance by competition authorities. Poundland, which has previously expressed an ambition to double its UK network of more than 500 stores, said the deal comprised a cash...

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Tesco Facing Probe Over Supplier Dealings

An official investigation is to be launched into practices at supermarket giant Tesco including delays in payments to suppliers. The move was announced by the Groceries Code Adjudicator (GCA), Christine Tacon, who said she had formed a "reasonable...

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SFO Head Warns Over Risk To Blue-Chip Probes

By Mark Kleinman, City Editor Proposals favoured by the Home Secretary to fold the Serious Fraud Office (SFO) into a wider crime-fighting agency could jeopardise high-profile inquiries into companies such as Barclays and Tesco, its head has warned....

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BT To Buy Mobile Firm EE For £12.5bn

BT has agreed to buy mobile operator EE in a cash and shares deal worth £12.5bn, the company has revealed. The group announced in December it was in talks to buy Britain's largest mobile operator and the deal, which will be partly financed with a...

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New Co-Op Chairman To Donate Pay To Charity

By Mark Kleinman, City Editor The businessman being lined up as the Co-operative Group's first independent chairman is to donate his six-figure pay package to charitable causes linked to the mutual. Sky News has learnt that Allan Leighton is expected...

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BBA To Osborne: City Traders 'Need Licence'

By Mark Kleinman, City Editor All traders in Britain's financial markets should be forced to seek professional qualifications before they can operate, the banking industry's main lobbying group is to tell George Osborne. Sky News has learnt that...

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Sky Beats Forecasts With Strong UK Growth

The UK's biggest pay-television company underlined continuing growth opportunities in its home market on Wednesday with a strong set of half-year results. Sky plc, the owner of Sky News, said that adjusted operating profit in the six months to December...

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'No Justification' For Energy Prices - Report

The big six energy companies are failing to pass on price cuts in full - costing the average household £145 a year - a new report says. Which? said its research shows a failure to align retail prices with wholesale costs has seen consumers forced...

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BP Full-Year Profit Down 9.7% Amid Crude Slide

Oil giant BP has seen its full-year profit drop by almost 10%, amid a global slide in crude prices. It said the underlying replacement profit for the 12 months ending in December was $12.1bn (£8bn) against $13.4bn (£9bn) in the previous year. The...

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Ocado Sees First Profit Since Launch In 2000

Online grocery firm Ocado has reported its first annual pre-tax profit since it was launched in 2000. The company said in the year to November 30 its profit reached £10.1m. The figure was in line with expectations and comes on the back of a £3.8m...

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Sovereign Funds Dial Up £3bn O2 Mobile Stake

By Mark Kleinman, City Editor A pack of the world's biggest sovereign wealth funds are pursuing a stake in the company that is poised to become the UK's largest mobile phone operator. Sky News has learnt that state-backed investors from China, Singapore...

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Greece In New Debt Deal Talks With Osborne

Greece's finance minister is due to meet British counterpart George Osborne, as Athens launches its drive to secure a new debt agreement. Yanis Varoufakis is in London after holding talks in Paris, where he compared Greece to "drug addicts craving...

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Ex-BP Boss Hayward Lures Monaghan To Genel

By Mark Kleinman, City Editor The oil company led by Tony Hayward, the former boss of BP, is poised to announce a shake-up of its executive team four years after it was founded. Sky News has learned that Genel Energy, which is listed on the London...

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Merkel Rules Out Debt Writedown For Greece

German Chancellor Angela Merkel has ruled out a writedown of Greece's massive debt, as EU officials threatened a funding cut-off to Greek banks. Mrs Merkel and European Central Bank (ECB) policymakers have hardened their stance on the weekend over...

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US Economic Growth Slows To 2.6% Annual Rate

US economic growth slowed in the final quarter of 2014, but its performance was enviable when compared to new woes for the eurozone and Russia. It was confirmed on Friday that the fastest pace of US consumer spending since 2006 was offset by lower...

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Sovereign Funds Dial Up £3bn O2 Mobile Stake

By Mark Kleinman, City Editor A pack of the world's biggest sovereign wealth funds are pursuing a stake in the company that is poised to become the UK's largest mobile phone operator. Sky News has learnt that state-backed investors from China, Singapore...

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