Marks & Spencer posted its lowest annual profit since 2009 on Tuesday as a struggling clothing and homewares division dragged on growth in food sales. The 129-year-old retailer, which serves 21 mln shoppers a week from over 700 UK stores, said it made a profit before tax and one-off items of 665.2 mln pounds in
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Britain's benchmark index edged off 13-year highs early on Tuesday, led by a selloff in cruise operator Carnival Corporation. Shares in Carnival shed 14.8% as the group said it expects lower revenue due to the lower ticket pricing that it is employing to attract passengers following a string of high-profile mishaps. It was the top
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The Bank of Cyprus interim board of directors held a meeting in the former Laiki headquarters building in Nicosia to convey the message to the merged group’s 5,500 employees that the restructuring and recapitalisation plans are underway. The bank plans to shed some 1,250 jobs offering early retirement incentives to employees with more than 25
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New figures released by the department of lands and surveys earlier last week show that the property purchase contracts deposited throughout Cyprus continued to decline with the exception of Paphos, where overall sales increased. It was the fourth month in succession for this year that property sales especially to overseas buyers have improved and a
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Yahoo Inc said it is acquiring blogging service Tumblr for $1.1 billion cash, a bold bet by Chief Executive Marissa Mayer to revitalize the struggling Internet pioneer by co-opting a Web property with strong visitor traffic but little revenue. The deal, which will use about a fifth of Yahoo's $5.4 billion in cash and
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Ιn relation to a $60 million equity capital injection from newly-created Third Point Hellenic Recovery Fund Axia Ventures Group, (“AVG”) has acted as the exclusive financial advisor to Energean Oil & Gas (‘’Energean’’) with respect to Third Point Hellenic Recovery Fund’s entry into the share capital of Energean through an equity capital injection of $60
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A bank robbery in Israel on Monday ended with the deaths of five people, including one of the holdup men who apparently shot and killed himself when police launched a raid to free hostages. Police special forces surrounded the branch of Bank Hapoalim in the southern city of Beersheba after two robbers carried out the
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A magnitude 6.8 earthquake struck off the coast of Chile on Monday, the U.S. Geological Survey said, but Chilean emergency authorities said they saw no prospect that the tremor would generate a tsunami. The quake struck 400 miles (640 km) west of Puerto Aisen at a depth of 6.2 miles, the USGS said. It said
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British retailer Marks & Spencer is expected to report its lowest annual profit in four years on Tuesday as a struggling general merchandise division drags on the growth in food sales. The 129-year-old firm, whose clothing business has posted seven consecutive quarters of underlying sales declines, is forecast by analysts to report a profit before
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Ukrainian billionaire industrialist Viktor Pinchuk is suing two of his compatriots in London's High Court, saying they failed to hand over an iron ore business for which he paid $143 million. The Krivy Rih Iron Ore Combine is one of Ukraine's top ten iron ore producers and made a net profit of about $100 million
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