Debenhams Shares Take 9% Hit On Trading Woes

Investors have been abandoning Debenhams after it reported a fall in first quarter sales, despite an improved Christmas performance. The country's second-largest department store chain said UK like-for-like sales fell 0.8% in the 19 weeks...

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Morrisons Boss Quits After Festive Sales Fall

By Mark Kleinman, City Editor The chief executive of Wm Morrison is to step down after a slump in Christmas sales led the grocer's board to conclude that a new leader was required to transform its fortunes. Confirming an exclusive report on Sky News,...

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Smuggler Caught With 94 iPhones Taped To Body

By Sky News Beijing team A smuggler has been detained in China with 94 iPhone handsets taped to his body. The man's unusual posture as he walked caught the attention of customs officers in the city of Shenzhen as he tried to cross into...

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Energy Bills: E.ON Cuts Gas Prices By 3.5%

E.ON, one of the so-called 'Big Six' energy firms, has confirmed it is to reduce its standard gas charge by 3.5% with immediate effect. The company said the decision, coupled with a new one-year fixed dual fuel product it was also launching, represented...

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Sellafield Clean-Up Contract To Be Torn Up

A consortium is to be stripped of its contract to clean up western Europe's largest nuclear waste site at Sellafield following criticism of its performance. Nuclear Management Partners (NMP), made up of US engineering group URS, British firm AMEC...

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Inflation At Joint Lowest Level On Record

The annual rate of inflation has hit a 15-year low as oil costs continue to fall and supermarkets engage in a price war. The Office for National Statistics (ONS) measured consumer price inflation (CPI) at 0.5% in December - its joint lowest level...

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Petrol At £1 A Litre But Not At Supermarkets

The owner of three petrol stations in the West Midlands has cut the price of unleaded petrol below £1 a litre, as supermarkets announce further reductions. The decision to sell petrol at 99.7p by Harvest Energy garages in Birmingham, Redditch and...

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Malmaison Owner Begins Checkout From Hotels

By Mark Kleinman, City Editor The owner of Hotel du Vin and Malmaison, two of Britain's biggest boutique hotel chains, has kicked off a sale process which is expected to draw interest from a range of international investors. Sky News understands...

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Why Record Inflation Fall Is Not All Good News

How low is too low? That's the question economists are asking today after the Consumer Price Index (CPI) inflation rate dropped from 1% to 0.5%. It's the lowest official inflation number for a decade-and-a-half, and the first time it has halved in...

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Sainsbury's Cuts 500 Jobs In Office Shake-Up

Sainsbury's has become the latest major supermarket chain to announce cost-saving measures - with its cuts resulting in 500 job losses. The chain, which had its worst Christmas in a decade amid the bitter price war with rivals, said the streamlining...

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