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BUSINESS NEWS

The £3.6 billion UK lingerie market will be lifted this summer by lingerie brands expanding in London.

Mallett swings into buying mode after showroom move pays off

Upmarket antique furniture and art dealer Mallett is in the market to buy fresh stock, having made a £1.3 million profit from moving its showrooms from New Bond Street to nearby Ely House in Dover Street.

Goldman hired by Spain to advise on struggling Bankia

The vampire squid is thrusting its tentacles back into the eurozone crisis. Goldman Sachs has been hired by the beleaguered Spanish government to examine the books of the part-nationalised lender, Bankia.

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Ellesmere Port car plant saved by Vauxhall-owner General Motors
Simon Prior, product manager at Vauxhall

Britain has secured a deal with General Motors to build the next generation of its Astra compact model at Ellesmere Port rather than in Germany, saving hundreds of jobs.

TalkTalk profits double and its payout leaps

TalkTalk’s shares surged 14% to their highest level in a year after the broadband and telecoms group raised the dividend by almost two thirds, with the promise of more to come.

Market Round Up: Facebook effect cheers traders but fails to lift market gloom

Facebook’s mega-float was the only thing cheering up traders as they fretted about a “Grexit” on another grim day for European equities.

G4S brings in former Deloitte chief

Fearsome bean-counter John Connolly has been drafted in as chairman of G4S, the security firm that will protect visitors to this summer’s Olympic Games.

Xavier Rolet London Stock Exchange

LSE boss Rolet ‘optimistic’ on single currency

Xavier Rolet, the Frenchman who has run the London Stock Exchange for the past three years is cautiously optimistic that the eurozone crisis is about to play itself out and the single currency will survive.

Sales at Mitchells & Butlers shrunk by the downpours

Mitchells & Butlers, the owner of some of Britain’s best-known pubs today said sales had actually fallen during April as the rain poured down.

Bets against Spain pile up as spectre of default looms

Bets against beleaguered Spain and its banks hit an all-time high today as alarm over the prospect of Greece pulling out of the euro kept the nation in the eye of the storm.

Pigs

UK in pork export deal with China

The UK's pork producers are toasting a new deal to increase exports to China.

Santander

Santander to savers: Don’t panic, your money is safe

Santander UK, the country’s third-largest bank in terms of savers, today reassured them the downgrading of its and its parent group’s debt ratings should not make them panic.

Northern Rock

Taxpayers may lose £2bn on Northern Rock

Taxpayers could lose up to £2 billion from the government's 2008 rescue of mortgage lender Northern Rock by the time all the assets are wound down, according to the spending watchdog.

Kesa sales fall worsens on euro crisis

Kesa, Europe's No. 3 electricals retailer, said sales declines worsened in its fourth quarter as consumers fretted about fallout from the euro zone debt crisis and its core French business came up against tough digital switchover comparisons.

Beckham lookalikes in the Whitgift shopping centre today

Westfield lays out Croydon ‘vision’

The latest round in a fight to redevelop the shopping heart of Croydon will kick off tonight.

Shareholder ire spreads to Pru and Cookson

The Prudential and engineering group Cookson this afternoon became the latest major companies to suffer shareholder revolts over excessive boardroom pay.

JP Morgan

JPMorgan losses rise by further $1bn

JPMorgan's losses have ballooned further.

3i ups divi and says goodbye to Queen

Struggling private-equity firm 3i cheered investors today as it stepped up payments to shareholders.

Slow lane: Aviva in sales drag

Aviva tried to put a brave face on its woes today, insisting it had made a “solid start” to the year despite the investor fury surrounding the now-departed chief executive Andrew Moss.

Estate agent's window

Greece’s default would ‘raise the cost of mortgages’

The estate agent behind the Your Move and Marsh & Parsons chains today braced would-be homebuyers for dear mortgages amid mounting alarm over Europe’s debt woes.

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