Co-op Sells Farming Business To Wellcome Trust

The Co-operative Group is to sell its farming business to the Wellcome Trust for £249m. The net proceeds of the sale will be used to reduce the group's debt and invest in the Co-op's core retail and consumer services divisions. It leaves the Co-op...

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Campaigners Call For 'Staycation' Tax Cut

By Frazer Maude, Sky News Reporter Campaigners fighting for a reduction in VAT for the tourism industry say it could offer the UK economy a £4bn boost. The popularity of domestic holidays, or 'staycations' has been fuelled by the recession. In...

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RAC Gears Up For Float With Rake Appointment

By Mark Kleinman, City Editor The CBI president Sir Mike Rake is in talks to become chairman of the RAC breakdown recovery service ahead of a potential £2bn stock market listing. Sky News has learnt that Sir Mike is a leading candidate to chair...

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High Street Revival 'Has Shown Little Impact'

By Frazer Maude, Sky News Correspondent The self-titled "Queen of Shops" has come under fire after her Government-backed bid to revive the High Street has shown little impact. Wolverhampton was one of 12 town centres chosen to pilot retail guru...

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Brady And Ex-M&S Boss To Get Tory Peerages

By Mark Kleinman, City Editor David Cameron is to hand peerages to The Apprentice star Karren Brady, the former Marks & Spencer (M&S) boss Sir Stuart Rose and a multimillionaire Conservative donor in a wave of appointments that could revive...

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HSBC Urges Ring-Fencing Delay Amid CMA Probe

By Mark Kleinman, City Editor One of Britain's biggest banks is urging the Government to delay a deadline for separating lenders' retail and investment banking operations amid fears that billions of pounds could be wasted on the project. Sky News...

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Boris Says EU Exit Might Be Best For Britain

Britain could be better off if it "quits" the European Union than if it remains a member, Boris Johnson has said. The London Mayor made his comments ahead of the publication of a new report, which finds London's economy would not suffer significantly...

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Rising Energy Bills Top Concern For Households

Rising energy bills are the number one concern for European households, according to a report by Kingfisher. Europe's largest home improvement company and owner of B&Q said that 65% of homeowners say increasing energy prices are their primary household...

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HSBC Sees Pre-Tax Profit Drop 12% To £7.3bn

HSBC's pre-tax profit dropped by 12% to £7.3bn in the first half of the year. For the same period in 2013, the bank made £8.3bn. It comes as HSBC said it has increased its provision for payment protection insurance (PPI) compensation by £115m. Last...

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Portugal's Banco Espirito Santo Gets Bailout

Portugal has announced a multi-billion euro rescue plan for struggling lender Banco Espirito Santo. 4.9bn euros (£3.9bn) will be pumped into its largest listed bank which under the plans will be split into two. A "good bank" called Novo Banco will...

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