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Tiffany & Co suffers fall in US sales

Tiffany & Co revealed a surprise sales slump in the Americas, its largest market, in its quarterly figures. The exclusive jewellery shop sold fewer products than expected in the quarter ending 30 April and also suffered a drop of 4% in comparable sales. The company has struggled to attract younger ...

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British sports car maker Lotus bought by China's Geely

Lotus, the British sports car maker, is being bought by China’s Geely. The purchase is part of a deal by Geely to buy a 49.9% stake in Malaysian carmaker Proton, which owns Lotus. Geely, which also owns the London Taxi Company and Sweden’s Volvo Car Group, will take a 51% ...

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Ineos to buy Dong Energy's oil and gas arm in £1bn deal

British petrochemicals group Ineos is set to become a major North Sea player after acquiring Danish firm Dong Energy’s entire oil and gas business in a deal worth up to $1.3bn (£1bn). The transaction includes production, development and exploration sites off Denmark, Norway and west of Shetland. Ineos said the ...

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Ikea unpacks Jesper Brodin as new chief executive

Swedish furniture and homeware firm Ikea has named Jesper Brodin as its new chief executive from September. Mr Brodin is the company’s head in Sweden and will succeed Peter Agnefjall, who had been in the role for four years. The new boss will work in Leiden in the Netherlands, where ...

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Dixons Carphone says consumers keep spending

Sales at mobile phone retailer Dixons Carphone rose 4% for the year to April despite what it calls “a lively political backdrop”. In a trading update ahead of its annual results, the Currys and PC World owner said total sales including those at newly opened stores jumped 9%. It enjoyed ...

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Kingfisher revenues slip as French sales fall

Sales at Kingfisher, owner of B&Q and Screwfix, have fallen, pulled down by the cost of restructuring and weak sales in France. In the first three months of the year sales dropped 0.6% in stores that had been open a year or more. Sales in its French stores Castorama and ...

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M&S annual profits fall by 64% as revamp costs bite

Profits at Marks and Spencer fell by almost two thirds to £176.4m last year following a costly business overhaul. The retailer said that a decline in clothing sales and higher costs from opening new food stores were partly to blame for the 64% fall. Sales were flat at £10.6bn in ...

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Hard Brexit 'could impact Northern Ireland legal profession'

A hard Brexit could have drastic consequences for the legal profession in Northern Ireland, according to the International Bar Association. It will be one of the main topics under discussion at a global conference of lawyers getting under way in Belfast this week. More than 400 lawyers from around the ...

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Moody's downgrades China's credit rating

China has received a downgrade on its credit score, on worries about the future state of the economy. Moody’s Investors Services brought down China’s long-term local currency and foreign currency issuer ratings by one notch to Aa3 from A1. The move could lead to a rise in the cost of ...

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Birmingham University to open campus in the Gulf

The University of Birmingham’s plan to open a campus in Dubai is the latest example of universities expanding with international branches. Vice-chancellor Sir David Eastwood emphasised the university’s international credentials – saying its campus in the Gulf would show its “global mission” and that it was an “outward looking, world-class ...

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