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SFO to investigate pension liberation scams

The Serious Fraud Office (SFO) is to investigate a series of pension liberation scams, in which investors have lost at least £120m. Since 2011 it’s thought that more than 1,000 people moved their pension savings into schemes such as Capita Oak and Henley Retirement. They were typically told their money ...

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German police raid Daimler offices

German police have searched 11 offices of carmaker Daimler as part of their investigation into possible fraudulent emissions data by employees. A total of 23 prosecutors and 230 police officers took part in the search in the states of Baden-Wuerttemberg, Berlin, Lower Saxony and Saxony, Daimler, which owns Mercedes-Benz, said ...

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Firms pledge to recruit more over-50s

Aviva, Barclays, Atos and five other firms have agreed to promote over-50s employment by publishing data about the age of their workforce. They are responding to a call from the government’s Business Champion for Older Workers, Andy Briggs. In February, he asked firms to increase older worker numbers by 12% ...

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Further signs of UK property slowdown in April

There were further signs of a slowdown in the property market in April, as the number of sales fell significantly, while fewer people took out mortgages. The number of residential property transactions in the UK dropped by 22.5% between March and April, according to HM Revenue and Customs (HMRC). Analysis ...

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Government borrowing at three-year April high

Government borrowing was at its highest April level for three years, according to the latest figures from the Office for National Statistics (ONS). Public sector net borrowing, excluding public sector banks, was £10.4bn last month, up by £1.2bn from April 2016. The ONS also adjusted the shortfall total from the ...

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FTSE 100 bolstered by Severn Trent

London’s stock market edged higher, with shares in Severn Trent rising after the water company reported an increase in full-year profits. Severn Trent shares rose 1.7% after it said underlying pre-tax profits rose 4.3% to £525m, helped by fewer leaks following an investment programme. Severn was one of the biggest ...

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Nationwide profits hit by low interest rates

Profits have fallen at Nationwide after the building society sought to protect savers from the impact of last year’s interest rate cut. Statutory pre-tax profits for the year to March to £1.054bn, down 17% from last year’s figure of £1.279bn. However, Nationwide said 795,000 new current accounts had been opened ...

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Scotland sees record foreign investment

Scotland won a record number of investments from overseas in 2016, although growth was substantially lower than the previous year. There were 122 foreign direct investment deals done over the course of last year, up from 119 in 2015. The EY Scotland Attractiveness Survey showed Scotland was the second most ...

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Greece fails to secure fresh bailout funds

Greece has failed to secure a deal to unlock the next instalment of its multi-billion-dollar bailout after talks with eurozone finance ministers broke down. Eurogroup head Jeroen Dijsselbloem said there was still a gap “between what could be done and what some of us had expected should be done”. Nonetheless, ...

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Amazon adds live TV channels to Prime Video

Amazon has announced it will offer live television channels via its Prime Video service, for an extra fee. People will be able to subscribe to popular channels such as Discovery and Eurosport individually, without paying for a bundle of channels. Until now, Prime Video has offered only on-demand films and ...

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