Twitter Snaps Back In Instagram Photo War

Twitter has fired the latest salvo in its social media war with Instagram by offering its own smartphone photo-sharing features. It was forced to act after the Facebook-owned firm made it impossible for internet users to integrate Instagram images into...

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Starbucks Tax Row Boosts Costa Coffee Sales

The UK's largest hotel and restaurant group, Whitbread, has said sales at its Costa Coffee brand have increased by over 25%. Like-for-like sales at its coffee shops were up by 7.1%, while total sales increased by 25.5% in the three months to November...

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HSBC Bonuses Hit After £1.2bn Fine

By Mark Kleinman, City Editor HSBC's top executives are to defer a portion of any bonuses they are awarded for the next five years following the bank's £1.2bn fine for breaching money laundering rules in the US. I have learned that the Deferred...

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Pension Reforms: CBI Slams Europe Reform Plan

Planned changes to pension rules by the European Commission could cost the UK an extra £350bn and 180,000 jobs, according to the Confederation of British Industry (CBI). A study for the business lobby group suggests the proposals, which include forcing...

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Labour To Oppose 1% Cap On Benefits Payments

Labour has vowed to oppose the 1% cap on benefits payments proposed by Chancellor George Osborne in his Autumn Statement. Ed Balls confirmed the decision at Treasury Questions in the House of Commons, claiming the measure is unfair. The Chancellor...

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Northern Rock To Refund £270m To Customers

Northern Rock Asset Management (NRAM) - the state-owned part of the defunct lender - is to refund a total of £270m to customers. The bank will pay an average of £1,775 to each affected customer after failing to disclose information in documents and...

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Shale Gas Drilling 'Huge Boost' To UK Economy

By Richard Suchet, Sky News Reporter Drilling for shale gas could create "tens of thousands" of jobs in the UK and generate vast sums of money for the Treasury, according to a UK-based exploration company. Cuadrilla chief executive Francis Egan...

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Virgin Atlantic Takes On BA With Delta Deal

Singapore Airlines has sold its 49% stake in Virgin Atlantic to rival Delta, in a move that will bolster Virgin's reach in the United States and intensify its rivalry with British Airways. The deal was announced just 24 hours after a verbal spat between...

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HSBC To Pay £1.2bn In Money Laundering Case

Record Fine: HSBC's Statement Updated: 8:39am UK, Tuesday 11 December 2012 HSBC released the following statement after confirming it will pay $1.9bn (£1.2bn) to the US Department of Justice over money-laundering. HSBC has reached agreement with United...

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Libor Scandal: UK Police Make Three Arrests

The Serious Fraud Office (SFO) has made three arrests as part of its investigation into the manipulation of the interbank lending rate, Libor. The major banks declined to comment on the development but Sky sources have suggested that one of the people...

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