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VW CEO says will meet 2017 cost-cutting goal - source

Reuters UK Business News - Thu, 18/12/2014 - 19:01
DRESDEN, Germany (Reuters) - Volkswagen Chief Executive Martin Winterkorn has said Europe's largest carmaker is on course to meet a goal of cutting costs at its core division by 5 billion euros by 2017, as efficiency-boosting steps are taking hold, a source said.






BP faces heavy hit from former prized asset Rosneft

Reuters UK Business News - Thu, 18/12/2014 - 18:25
LONDON (Reuters) - BP faces a first and heavy loss from its stake in Russia's Rosneft due to plummeting oil prices and a crumbling rouble, potentially forcing it to write down the value of its once-prized asset.






Swiss central bank announces negative interest rates to stem flight into franc

Reuters UK Business News - Thu, 18/12/2014 - 18:17
ZURICH (Reuters) - Switzerland's central bank said it would start charging banks for deposits in francs for the first time since the 1970s, hoping to stem a flight to the safe-haven currency driven by concern over the euro zone and Russia's deepening crisis.






Roche to pay up to $489 million for next-generation antibody developer

Reuters UK Business News - Thu, 18/12/2014 - 18:14
(Reuters) - Roche has agreed to pay up to $489 million (312 million pounds) to acquire Austrian biotech company Dutalys, a specialist in the discovery and development of so-called bi-specific antibodies, the Swiss drugmaker said on Thursday.






Longstanding headteacher step down after nearly 20 years at the top

Newmarket Journal - Thu, 18/12/2014 - 18:00

As far as teaching standards go there are few that can match those attained by Fordham Primary School headteacher Kevin Bullock.

Categories: Local Press

Oil resumes slide after brief rebound on short-covering

Reuters UK Business News - Thu, 18/12/2014 - 17:56
NEW YORK (Reuters) - Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut.






Old Mutual and IAG outperform as FTSE jumps nearly two percent

Reuters UK Business News - Thu, 18/12/2014 - 17:30
LONDON (Reuters) - The FTSE 100 enjoyed one of its best days so far this year on Thursday, as the U.S. Federal Reserve's pledge for a "patient approach" to any interest rate increase lifted stock markets around the world.






Aer Lingus rejects takeover approach from British Airways owner

Reuters UK Business News - Thu, 18/12/2014 - 17:13
LONDON/DUBLIN (Reuters) - Aer Lingus has rejected a takeover approach from the owner of British Airways, which is keen to gain control of the Irish airline's slots at London's Heathrow Airport.






Hotelier IHG kicks off Chinese-focused Hualuxe roll-out

Reuters UK Business News - Thu, 18/12/2014 - 17:09
LONDON (Reuters) - InterContinental Hotels Group will open up to three of its new Hualuxe hotels in China in 2015, the first of a Chinese-specific brand it hopes to eventually roll out globally.






Top EU official says investment fund stakes won't hit deficits

Reuters UK Business News - Thu, 18/12/2014 - 17:00
BRUSSELS (Reuters) - European Union governments can safely buy into an EU investment fund without risking punishment for raising their public debt or deficit under the bloc's fiscal rules, a top European Commission official said on Thursday.






Russian rouble slips as Putin speech fails to impress

Reuters UK Business News - Thu, 18/12/2014 - 16:55
MOSCOW (Reuters) - The rouble edged lower against the dollar on Thursday, with traders saying President Vladimir Putin had offered few concrete measures at his end-of-year news conference to pull Russia out of a crisis.






Volkswagen CEO says will certainly meet 2017 profit goal - source

Reuters UK Business News - Thu, 18/12/2014 - 16:45
DRESDEN, Germany (Reuters) - Volkswagen AG Chief Executive Martin Winterkorn said Europe's largest carmaker would definitely be able to improve its results by 5 billion euros by 2017 as planned, according to a person close to management thinking who attended a conference on Thursday where Winterkorn was speaking.






U.S. jobless claims signal firmer labour market; other data mixed

Reuters UK Business News - Thu, 18/12/2014 - 16:38
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labour market continued to strengthen.






Britain says recovers further 1.36 billion pounds from Icesave collapse

Reuters UK Business News - Thu, 18/12/2014 - 16:21
LONDON (Reuters) - Britain's finance ministry said on Thursday it had recovered a further 1.36 billion pounds that it had to pay out to British depositors when Icelandic bank Landsbanki went bust in October 2008.






Pimco expects global growth to accelerate in 2015 between 2.5-3 percent

Reuters UK Business News - Thu, 18/12/2014 - 16:11
NEW YORK (Reuters) - Bond giant Pacific Investment Management Co said on Thursday it expects global growth to accelerate in 2015 to around 2.75 percent from around plus 2.5 percent this year, based on the view that supply-driven declines in oil prices were fundamentally positive.






Plans for a major new cinema and leisure development move a step closer

Ely Standard - Thu, 18/12/2014 - 16:01

Developers have finally submitted plans for a new six-screen cinema and leisure village, to be located in Ely.

Categories: Local Press

Two men found guilty of exploiting migrant workers in Fenland after nine-week trial

Ely Standard - Thu, 18/12/2014 - 15:51

Two men have been found guilty of exploiting migrant workers as part of an illegal gangmaster operation in Fenland.

Categories: Local Press

Stores fight back as Christmas delivery delays hit e-tailers

Reuters UK Business News - Thu, 18/12/2014 - 15:36
BERLIN/PARIS (Reuters) - The Christmas rush is exposing the limitations of internet-only retailers as surging orders cause delivery delays, allowing Europe's shops to fight back with "click and collect" services and more in-store theatre.

Woman ‘made up’ claims that man had slammed her head into wall and threatened to kill her

Ely Standard - Thu, 18/12/2014 - 15:24

A woman who falsely claimed a man had attacked and threatened to kill her has been handed a suspended prison sentence.

Categories: Local Press

Ford expands Takata driver-side airbag recall in U.S

Reuters UK Business News - Thu, 18/12/2014 - 15:23
DETROIT (Reuters) - Ford Motor Co on Thursday expanded the recall of older-model Mustang cars, that have driver-side Takata airbags with inflators, to include about 502,500 vehicles.

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