Npower: Energy Firm Denies Tax Avoidance

Npower has admitted it has not paid corporation tax in the UK for three years - just months after increasing prices by around 9%. The company made the admission to the Energy and Climate Change select committee - but its boss said they had invested...

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American Airlines Grounds Fleet After Glitch

American Airlines was forced to ground all its flights for several hours because of a glitch in its computer reservation system. The airline asked the US Federal Aviation Administration to halt all its departures from midday on Tuesday until just before...

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Jobless Total Up As Income Squeeze Tightens

The unemployment total has risen for the second month in a row while average pay increases were found to be at their weakest on record. The Office for National Statistics (ONS) said the number of people without work rose 70,000 in the three months to...

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WhatsApp Has 'More Users Than Twitter'

Smartphone messaging app WhatsApp has more users than Twitter, claims its boss. Jan Koum says the company processes 8bn inbound and 12bn outbound messages every day. He did not reveal exactly how many active users the service has, but Twitter officially...

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M&S Fightback Hit As 'Knicker Queen' Quits

Marks & Spencer's battle to overturn a slump in clothing sales has suffered a blow after its head of lingerie and beauty quit after just three months in the job. The appointment of Janie Schaffer, who is known as the Knicker Queen, was announced...

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Alibaba Begins Fresh Push To Take On Android

Chinese e-commerce giant Alibaba has said it will subsidise handset makers using its mobile operating system, as well as setting up a large incentive fund for app developers. Manufacturers will get 1 yuan (11p) per month for every smartphone they sell...

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Tesco Confirms US Exit And Profit Fall

Tesco has confirmed its first fall in annual profits for 20 years and writedowns totalling more than £2.5bn as it moves to concentrate on improving its UK supermarket business. The retailer confirmed it is exiting its loss-making Fresh & Easy operation...

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UK Banks Tussle Over £8bn Visa Sale

By Mark Kleinman, City Editor A cross-Channel tussle has broken out over the future of Visa Europe, the payments system, as its British member banks push for a deal that could generate cash proceeds of more than £7bn. I have learnt that some of...

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IMF Sees Financial Crisis 'Chronic Risk'

By Ed Conway, Economics Editor, In Washington The financial crisis which has beset the world economy in recent years is at risk of becoming "chronic", the International Monetary Fund has warned. In its Global Financial Stability Report, the IMF...

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Pinewood Studio Confirms China Expansion

Pinewood Shepperton has signed a joint venture with a Chinese media entrepreneur as it seeks to expand its production services into the fast-growing Chinese market. The venture partnership with Bruno Wu's Seven Stars company will be called Song Lin...

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