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Bridging The Gap
Samsung recalls 2.8m washing machines in the US Samsung recalls 2.8m washing machines in the US
Samsung has been forced to recall 2.8 million washing machines in the US after the doors detached mid-wash, leaving one person with a broken jaw. The company said 34 models of top-loading machines made between March 2011 and November 2016 may be faulty. Nine people have reported washing machine-related injuries and there have been 733 complaints of excessive vibration or detaching doors. ...
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Brexit Britain: Microsoft hikes U.K. prices by 22% Brexit Britain: Microsoft hikes U.K. prices by 22%
Obamacare premiums are set to skyrocket an average of 22% for the benchmark silver plan in 2017, according to a government report released Monday. The price hike is the latest blow to Obamacare. Insurers are raising prices and downsizing their presence on the exchanges as they try to stem losses from sicker-than-anticipated customers. Enrollment for 2017 will be closely watched since insurers w...
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Gas prices nudge annual inflation to 2-year high Gas prices nudge annual inflation to 2-year high
Rising gasoline prices pushed annual inflation to a nearly two-year high in September, while core inflation rose modestly. The consumer price index increased 0.3%, the most in five months, the Labor Department said Tuesday, matching economistsí estimates. The index was up 1.5% the past year, the largest annual rise since October 2014. Excluding volatile food and energy items, so-called core ...
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Dow sinks 200 as profit results disappoint Dow sinks 200 as profit results disappoint
U.S. stocks closed sharply lower Tuesday as investors hoping for signs of a rebound in corporate profits were greeted with a quarterly earnings miss from one company and a profit downgrade from another. Investors also began turning their focus once again to interest rates, pushing long-term yields higher. The Dow Jones industrial average closed down 200 points, or 1.1%, to 18,128.66, as alum...
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Business leaders plead against 'hard' Brexit Business leaders plead against 'hard' Brexit
A group of major business lobby groups has written an open letter urging the government to preserve barrier free trade with Europe. The letter is signed by leaders of the CBI and manufacturers' body the EEF. It says the way in which the UK leaves the EU and on what terms is critical for jobs and investment in the UK. It says defaulting to trading by World Trade Organisation (WTO) rules would le...
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US creates 156,000 jobs in September US creates 156,000 jobs in September
The US economy created 156,000 jobs in September, official figures show, slightly fewer than expected. However, August's figure was revised higher to 167,000 from 151,000. Both figures are lower than 180,000 average for this year. The unemployment rate edged up to 5% from 4.9%, although that was due to more people looking for work. The US Department of Labor said job gains occurred in professio...
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Hammond urges calm over pound flash crash Hammond urges calm over pound flash crash
Chancellor Philip Hammond has responded to the flash crash in sterling saying that market turbulence is to be expected, but the UK economy is fundamentally strong. The pound was pummelled in the currency markets in Friday Asian trading, with traders blaming concerns over Brexit and a flash crash that hit the market. The pound briefly fell 6% to $1.1841, the biggest move since the Brexit vote. S...
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Nissan boss warns on UK investment Nissan boss warns on UK investment
The boss of Nissan has warned that Brexit uncertainty and possible tariffs could damage investment in the UK's biggest car factory. Chief executive Carlos Ghosn said the firm would need "compensation" for tax barriers that might result from Britain leaving the European Union. Nissan's plant in Sunderland produces about a third of the UK's car output. The comments come amid warnings from t...
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George Osborne was 'hapless' George Osborne was 'hapless'
Another view of George Osborne. Former Greek finance minister Yanis Varoufakis has labelled the ex-Chancellor "hapless". The economist told the Press Association that Prime Minister Theresa May and Philip Hammond must abandon austerity and ramp up investment if they hope to get the economy back on track following the Brexit vote. "George Osborne was caught in a trap of his own making, he k...
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Merkel hopes no state help needed for Deutsche Merkel hopes no state help needed for Deutsche
German Chancellor Angela Merkel hopes Deutsche Bank's woes could be solved after the lender said it needed no state aid with the $14bn demanded by the US. The bank is under fire to settle claims it missold mortgage-backed securities. Merkel said: "Deutsche Bank is a part of the German banking and financial sector. And of course we hope that all companies, also if they face temporary problem...
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