Famed Piano Maker Steinway Sold For £321m

Famed piano maker Steinway has been sold for about $499m (£321m) and will become a private company again. Steinway's pianos have been a status symbol and a must-have luxury in concert halls for more than a century. But the company, which developed...

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Apple Stock Soars As Icahn Buys 'Large' Stake

Activist investor Carl Icahn has bought a large stake in Apple and says the world's most valuable company should be doing more to revive its stock price. The often outspoken billionaire, renowned for pouncing on out-of-favour shares, signalled he had...

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HMRC Failure 'Costs Whitehall £20bn In Tax'

The Government could recoup another £20bn a year if it improved the efficiency of its tax collection, according to councils. The Local Government Association (LGA) claims uncollected tax is costing the equivalent of £1,370 for every household in England...

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BP Sues Over US Ban On Contracts After Explosion

BP is to take the US government to court over its ban on the company bidding for new federal contracts in the country, following the Deepwater Horizon disaster. The lawsuit, filed in Texas, claims keeping the ban in place risks causing the company "irreparable...

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Dreamliner: Airline Detects Wiring Faults

The Japanese airline ANA says it has found an electrical wiring problem in fire extinguishers for engines of three Dreamliner jets. The problem - the latest in a series of setbacks for Boeing's 787 - was first discovered during pre-flight maintenance...

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Eurozone Out Of Recession As Economy Grows

The eurozone has moved out of recession as its economy grew by 0.3% in the second quarter. It means the struggling area has finally emerged from its longest recession to date. The eurozone saw slightly faster then expected growth, with its two largest...

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Jobs: Claimant Count Hits Four-Year Low

The number of people claiming unemployment benefit dropped by almost double the forecast figure last month to a four year low. The Office for National Statistics (ONS) said Jobseeker's Allowance claims tumbled - for the ninth consecutive month - by...

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UPS Plane Crash In Alabama Kills Two

A large UPS cargo plane has crashed on approach to an airport in Birmingham, Alabama, killing the pilot and co-pilot. The pre-dawn crash caused at least two explosions, throwing debris across the area. The plane caught fire, sending a column of thick...

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Lord King Given £10,000 Gift For Retirement

Mervyn King has been given a £10,000 painting of himself from the Bank of England. The portrait was one of several gifts the Bank's former Governor received following his retirement last month. His leaving presents totalled £13,000 and also included...

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JP Morgan: Charges Over $6bn 'London Whale'

The United States has charged two ex-JP Morgan traders over the so-called 'London Whale' scandal that resulted in losses of $6.2bn (£4bn). Prosecutors in Manhattan accused former London-based traders Julien Grout and Javier Martin-Artajo of wire fraud...

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