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UK property transactions fall for third month in a row

The number of homes being bought and sold has fallen for the third month in a row, according to government figures. Across the UK there were 96,910 residential transactions in June, on a seasonally-adjusted basis. That is a fall of 3.3% on May’s number, and the lowest total since October ...

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Government borrowing up to £6.9bn in June

Government borrowing swelled to £6.9bn in June after the state was forced to pay higher interest on its debt. The figure was up £2bn from a year earlier, and was higher than analysts had been expecting. The government’s debt costs jumped by more than a third in June from a ...

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Paysafe shares jump on bid approach

Shares in UK payments company Paysafe jumped 9% after it received a £2.9bn takeover approach from a group of private equity firms. Paysafe said a consortium containing Blackstone and CVC Capital Partners had made a 590p-a-share offer. The approach comes amid a wave of takeover activity within the payment processing ...

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N Korea economy grows at fastest rate in 17 years

North Korea’s economy accelerated at its fastest pace in 17 years, despite sanctions over its nuclear and missile programs. Gross domestic product grew by 3.9% in 2016 compared with the previous year, according to the Bank of Korea. The growth stemmed largely from mining and energy, as well as an ...

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Farm subsidies 'must be earned' – Gove

Farm subsidies will have to be earned rather than just handed out in future, the Environment Secretary Michael Gove is expected to say in a speech later. Farmers will get only get taxpayers’ cash if they agree to protect the environment and enhance rural life, he will say. The move ...

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New agreement will allow US rice exports to China

China has agreed to allow imports of rice from the US for the first time. The agreement gives US farmers access to the world’s biggest rice consumer, with China importing about 5 million tonnes last year. It follows trade talks between the two countries that resulted in little progress on ...

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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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