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Rail firm boss resigns after disruption

The chief executive of Govia Thameslink Railway has tendered his resignation, the company has confirmed. Charles Horton said “I recognise that passengers have been hugely frustrated at the significant disruption caused by the introduction of new timetables. “It is the right time to hand leadership of GTR to a …

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EDF to pay £350,000 for missed smart meter target

EDF Energy will pay £350,000 after missing its target to install smart meters for customers last year, regulator Ofgem said. Ofgem found that EDF failed to meet its annual installations target for 2017, although it was achieved almost a month after the deadline in January this year. Suppliers are …

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AT&T completes $85bn Time Warner takeover

AT&T has completed its acquisition of entertainment business Time Warner, after a judge approved the move earlier this week. The $85bn (£63.5bn) deal, first announced in October 2016, was opposed by US president Donald Trump and the Justice Department over competition fears. But Judge Richard Leon of the US …

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Universal credit 'may never deliver value for money'

The government’s universal credit system has not – and may never – deliver value for money, according to a public spending watchdog. In a highly critical report, the National Audit Office (NAO) says the single payment scheme may cost more than the benefits system it replaces. It added that …

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Becker claims bankruptcy immunity with Africa envoy role

Tennis legend Boris Becker is claiming diplomatic immunity from bankruptcy proceedings in the UK. Mr Becker has been appointed as sports attache to the Central African Republic. Last year bankruptcy proceedings were brought against the former tennis ace over money he allegedly owes to a London-based private bank, Arbuthnot, …

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Euro falls as ECB set to keep interest rates steady

The euro was on track for its biggest single day fall since last October after the European Central Bank said it would keep interest rates steady at least until summer 2019. The currency dropped sharply within minutes of the announcement, initially falling from $1.1820 to $1.1725, to trade at …

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