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Microsoft profits jump on cloud strength

Microsoft quarterly profits nearly doubled to $5.3bn, after growth from its cloud computing business. The firm said the figures show its focus on cloud computing – software, storage and other services connected over the internet – is working. An ongoing overhaul at e-commerce firm eBay was rockier. Its profits dropped ...

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Clydesdale Bank sets launch date for plastic £10 note

Clydesdale Bank has announced the launch date for its second plastic bank note. The bank revealed that its new £10 polymer note will enter circulation on 21 September. It features Scottish poet Robert Burns on the front and views of Edinburgh’s Old and New towns on the reverse. The launch ...

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UK air traffic controllers warn of over-crowded skies

Air traffic controllers are warning that UK skies are running out of room for record numbers of planes. And they have called for a drastic modernisation in the way aircraft are guided across UK airspace. It comes as the government launches a discussion to shape the UK’s aviation industry for ...

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ExxonMobil fined by US for Ukraine sanctions violations

ExxonMobil must pay a $2m penalty for signing documents for oil and gas projects in Russia, despite US sanctions imposed after Russian forces seized Crimea in 2014. Exxon signed documents in May 2014 with Igor Sechin, the president of Russian oil giant Rosneft and another, unnamed person, it said. At ...

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Thousands leave SSE and Scottish Power after price rises

A third of a million customers have deserted the two big energy suppliers based in Scotland following recent price rises. About 230,000 households switched away from SSE in the three months to the end of June. The supplier raised its dual-fuel prices by 6.9% on 28 April. Separately, Scottish Power ...

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Rail electrification plans scrapped by Government

The government has scrapped the planned electrification of railway lines in Wales, the Midlands and the North. Transport Secretary Chris Grayling said the government will instead introduce faster trains with more seats and better on-board facilities. He said: “We are making the biggest investment in the railways since the Victorian ...

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Eurozone interest rates kept unchanged

Eurozone interest rates have been kept unchanged by the European Central Bank (ECB), as expected, with the benchmark rate remaining at 0%. Attention now switches to ECB president Mario Draghi’s news conference, at which he will explain the decision. Markets will be scrutinising his comments for any signs as to ...

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Sky deal: Murdoch faces further delay over Fox bid

Rupert Murdoch will have to wait a few more weeks to find out whether his bid for control of Sky will be the subject of an in-depth competition probe. Culture Secretary Karen Bradley said she was “still minded” to refer the bid by Murdoch-controlled 21st Century Fox to the Competition ...

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Gas man late? You could be entitled to £30 compensation

It’s the bugbear that troubles millions of householders – the boiler engineer who doesn’t turn up when promised. But under little-known rules that came in last year, customers are entitled to claim £30 whenever an engineer misses his or her four-hour time slot. Furthermore, if they aren’t given the money ...

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FTSE 100 rallies but EasyJet shares slip

The UK market opened higher but shares in EasyJet fell more than 5% despite the airline raising its estimate for full-year profits. The carrier said it now expected to report profits of between £380m and £420m, although that is still below last year’s figure of £495m. Analysts at Liberum said ...

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