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Tesco £85m investor compensation scheme opens

Tesco has opened its £85m compensation scheme for shareholders who lost money after being misled by the company’s overstatement of its profits three years ago. Around 10,000 retail investors are expected to qualify for an average pay-out of around £400 each under the scheme. Tesco announced the scheme, which …

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Royal Mail's new electric vans unveiled

Royal Mail is beginning trials in London of nine fully electric vans with ranges of up to 100 miles.The vehicles, which come in various sizes, will distribute post from the central London depot.They were produced by Oxfordshire-based carmaker Arrival, which recently opened a new factory in Banbury.Another batch of …

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Ex-Treasury mandarin to join bank lobby group

Lord Macpherson, the former permanent secretary to the Treasury‎, is being lined up to join the board of the banking industry’s most powerful lobbying group. Sky News has learnt that UK Finance (UKF) is seeking the approval of Whitehall’s Advisory Committee on Business Appointments (ACOBA) for the move. ‎It …

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Walmart and Google to offer voice-enabled shopping

Corporate giants Walmart and Google are teaming up to enter the voice-shopping market, currently dominated by Amazon.From next month, US consumers will be able to buy Walmart products using the voice-activated Google Assistant platform on phones and home devices.Amazon’s AI virtual assistant Alexa already enables users to shop directly …

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Heathrow landing fee claim not credible, says ex-BA boss

The former boss of British Airways, Sir Rod Eddington, says Heathrow’s claims it will not raise landing charges to pay for a new runway are not credible.Sir Rod told the BBC it was “very difficult to see how that is possible”. “More importantly, the airlines themselves do not believe …

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WPP cuts growth forecast as second quarter sales slow

Shares in WPP slid by 9% at the start of trading after the advertising giant reported slowing sales and warned about future growth.The company said that group performance had been “much tougher” for the first seven months of its financial year.It blamed growing economic uncertainty, including due to a …

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How bad is the household bill squeeze?

Household bills are rising more slowly than the rate of inflation, new research has found.The figures suggested that key elements of the “cost of living squeeze” may be less severe than previously thought. Research by MoneySavingExpert, based on official data, revealed the rise in the total cost of household …

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