Virgin Galactic Has First Rocket Test Flight

Virgin Galactic's passenger spacecraft has completed its first rocket-powered flight in a trial run described by Sir Richard Branson as historic. SpaceShipTwo flew above California's Mojave Desert at an altitude of 56,000ft after being released from...

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Jobs Boost At Whitbread As Costa Sales Soar

Hotel and restaurant group Whitbread has outlined expansion plans as it reported strong sales and a rise in annual profits. The group, which owns Costa Coffee and Premier Inns, said it created 3,000 UK jobs over the last year - and plans to hire 12,000...

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Tax: Five To Be Charged Over '£125m Fraud'

Five people are to be charged in connection with a film industry-based tax relief fraud that allegedly cost the public revenue around £125m, the Crown Prosecution Service says. The CPS confirmed the charges follow an investigation by HM Revenue and...

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Lloyds Shares Shoot Up As Profit Rises

The chief executive of Lloyds has said the bank made "substantial progress" in the first quarter, as it reported a sharp rise in profit. The bank, which is 39%-owned by the Government, said underlying profit hit £1.48bn in the first three months of...

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Airport Charges To Be Reduced In Shake-Up

Three London airports have been told to reduce the amount of money they charge airlines in take-off and landing fees. The move by the aviation regulator should limit the fare rises imposed on passengers using Heathrow, Gatwick and Stansted airports....

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US To Probe Profit From Twitter Hack Hoax

The Securities and Exchange Commission (SEC) is investigating the hacking of the Associated Press (AP) Twitter account, which temporarily wiped $136bn (£88bn) from the New York Stock Exchange. The probe will examine whether anything "nefarious" took...

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WPP To Cut Sorrell Pay After Investor Talks

By Mark Kleinman, City Editor Sir Martin Sorrell, the chief executive of WPP Group, was paid a total of £17.6m in 2012, reflecting a jackpot reward for the marketing services provider's resurgent share price performance. The package, which was...

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Matalan To Support Factory Collapse Victims

Matalan has said it will provide "financial and other support" to those affected by the collapse of a factory in Bangladesh which killed over 380 people. The fashion chain said it was not using any suppliers based in the building when the disaster occurred...

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Dubai Property Group Damac Eyes London Float

By Mark Kleinman, City Editor A Dubai-based luxury real estate developer renowned during the Gulf state's boom for handing out sports cars and yachts to clients is plotting a listing on the London Stock Exchange. I understand that Damac Properties...

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Eurozone Unemployment Hits New Record High

Eurozone unemployment reached 12.1% in March, official figures have shown, as the region's recession continues to hit its economy. Some 19.2 million people were out of work in the 17-nation bloc last month, with the jobless rate climbing for the 23rd...

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