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AstraZeneca drags down FTSE 100

Drugmaker AstraZeneca has seen its share price plummet more than 15% after announcing disappointing results. The firm said first-quarter revenue fell 10% to $5.05bn (£3.84bn). It also reported a major setback in trials of a new lung cancer drug therapy. The company was by far the biggest loser on the ...

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Lloyds sets aside another £700m for PPI

Lloyds Banking Group says it has set aside another £1bn for personal protection insurance claims, £700m more than it was planning to. It said the extra provision would cover “reactive claims” of about 9,000 per week through to August 2019. The announcement came as the bank reported half-year profits of ...

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Noble shares almost halve in value after loss warning

Noble Group, formerly Asia’s biggest commodities trader, saw its shares almost half in value after warning of a $1.8bn (£1.4bn) quarterly loss. The heavily indebted firm also announced plans to sell most of its assets outside of Asia to raise cash. Noble has been battling to stay afloat for more ...

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Amazon Prime makes first foray into South East Asia

Amazon has launched its express Prime Now delivery service in Singapore – the first time it has gone head-to-head with Chinese rival Alibaba. The move is its first step into South East Asia, a region largely untapped by e-commerce, despite having a population of about 600 million people. Lazada, currently ...

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Car production falls almost 14% as UK sales dip

UK car production fell by 13.7% in June compared to a year earlier – the third month in a row that output has fallen. The Society of Motor Manufacturers and Traders (SMMT) said the UK market was cooling in line with forecasts, following a long period of record growth. The ...

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Aberdeen 'worst hit by hard Brexit' in UK, experts predict

Aberdeen could be the city worst hit by falling economic output due to a “hard” Brexit, experts have predicted. A new report from the Centre for Cities and the Centre for Economic Performance at the London School of Economics, said all cities would see a fall in output due to ...

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Facebook flush with advertising money

Facebook revenues and profits soared in the most recent quarter, as advertising dollars poured into the social media company and users continued to flock to the site. More than 2 billion people – more than a quarter of the world’s population – log into the site every month, a powerful ...

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RBS likely to avoid compulsory sale of Williams & Glyn

The European Commission has accepted a UK government plan to free Royal Bank of Scotland from an obligation to sell its Williams & Glyn division. The sale of about 300 branches was a condition of the £45.5bn bailout of RBS in 2008 during the financial crisis. RBS struggled to find ...

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Foxconn expected to announce multi-billion dollar investment

Foxconn, the Taiwanese firm that works closely with technology firm, Apple, plans to build a multi-billion dollar plant in Wisconsin, US media are reporting. US President Donald Trump, who put boosting US manufacturing at the heart of his election campaign, is expected to make the announcement on Wednesday. Foxconn has ...

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Premier League wins anti-piracy court order

The Premier League has been awarded a High Court order for the forthcoming 2017-18 season, which will help it combat the illegal streaming of games. The blocking order will require UK Internet Service Providers (ISPs) to block servers that are hosting illegal streams of its matches. It will allow the ...

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