Bestway To Buy Co-op Pharmacy Arm For £620m

The embattled Co-operative Group has agreed to sell its pharmacy division to Bestway for £620m. In a statement, the Co-op said the sale would be completed in October, following the successful separation of the division from the parent group. The sale...

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Top City Banker To Pay £450,000 FCA Penalty

By Mark Kleinman, City Editor One of the City's top financiers is poised to pay a £450,000 fine after deciding to accept a market abuse ruling by the Financial Conduct Authority (FCA). Sky News understands that Ian Hannam, a banker who became known...

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Germans Seek To Land Gatwick Air Traffic Role

By Mark Kleinman, City Editor Germany's state-owned airspace controller is vying with its principal British rival to land a 10-year deal to run air traffic services at the UK's second-busiest airport. Sky News has learnt that London Gatwick's shareholders...

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FedEx Denies Illegal Drug Delivery Charges

Delivery giant FedEx has denied a United States Department of Justice (DoJ) charge that it has transported illegal drugs for customers. The company said it is innocent of charges that it "knowingly and intentionally conspired to distribute" controlled...

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Retail Banks Face Competitiveness Probe

The competition watchdog has confirmed it is consulting on a provisional decision to launch an in-depth investigation into the retail banking sector. The Competition and Markets Authority (CMA) said essential parts of the UK market lack effective competitiveness....

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Microsoft Cuts 18,000 Jobs In Nokia Cull

Microsoft has confirmed plans to "eliminate" up to 18,000 jobs worldwide as part of efforts to simplify the company's operations and cut costs. The announcement was made in an email to staff entitled 'Starting to Evolve Our Organization and Culture'...

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Shire Agrees To £32bn AbbVie Takeover Deal

The board of UK drug firm Shire has agreed to a £32bn takeover deal by American rival AbbVie, it has been confirmed. Shire said the merger would see its shareholders entitled to £24.44 cash for each share. The announcement comes on the deadline day...

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The Week's Big Business Stories

Germans Seek To Land Gatwick Air Traffic Role Updated: 11:00pm UK, Thursday 17 July 2014 By Mark Kleinman, City Editor Germany's state-owned airspace controller is vying with its principal British rival to land a 10-year deal to run air traffic...

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Malaysia Airlines Offers Passenger Refunds

Malaysia Airlines is to refund fares for passengers no longer wishing to travel on the carrier, Sky News has confirmed. Previously booked passengers due to fly up to and including July 25 can seek a refund without incurring any penalty. The decision...

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Newly-Listed TSB Says Yes To £1.4bn UKAR Bid

State 'Bad Bank' Plots £1.5bn Mortgage Sale Updated: 3:07pm UK, Tuesday 03 June 2014 By Mark Kleinman, City Editor The state-owned 'bad bank' which holds the remnants of Bradford & Bingley and Northern Rock is to sell a £1.5bn mortgage portfolio...

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