Zara owner Inditex profits up 32%

19 September 2012 Last updated at 04:31 ET The world's largest clothing retailer, Inditex, which owns Zara, has posted a jump in first-half profit after opening new stores and gaining new customers. Inditex reported a net profit of 944m euros ($1.23bn; £758m) for the six months to 31 July, up 32% on the same period last year. Net sales rose 17% to 7.2bn euros, while like-for-like...

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Newbury Racecourse in land sale

19 September 2012 Last updated at 04:02 ET The owners of Newbury Racecourse have sold part of the land to property developers who intend to build 1,500 homes over the next 10 years. Newbury Racecourse plc has sold land on its western, central and eastern sites to David Wilson Homes, part of Barratt. David Wilson will pay "a minimum of £42.6m for the land", with the proceeds funding...

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French Connection reports loss

19 September 2012 Last updated at 02:31 ET Fashion chain French Connection has reported a half-year loss after sales fell during what it described as a "very difficult" six months. The firm - which had issued a profit warning in May - reported a loss of £6.3m for the six months to 31 July, down from a £700,000 profit last year. Revenues fell by 7% to £96m, and sales in the UK and Europe...

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BoJ extends asset purchase scheme

19 September 2012 Last updated at 02:35 ET The Bank of Japan (BoJ) has extended its asset purchasing programme by 10 trillion yen ($126bn; £78bn), following similar moves by the Federal Reserve and the European Central Bank. The move, aimed at boosting the economy, increases the overall size of the stimulus programme to 80tn yen. Though the increase had been widely anticipated, some...

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Youth jobs plan is 'insufficient'

18 September 2012 Last updated at 19:49 ET The government's youth contract is not enough to tackle the scale of youth unemployment, a group of MPs has said. The youth contract provides £1bn for a range of schemes aimed at getting young people into work. The Work and Pensions Select Committee said the contract was "a good start" but alone would not be enough "to address the current...

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Heineken ends Tiger beer standoff

19 September 2012 Last updated at 00:25 ET Dutch brewer Heineken has ended the standoff over control of the maker of Tiger beer, by garnering the support of a Thai billionaire. Charoen Sirivadhanabhakdi's ThaiBev and TCC Assets have agreed to back the sale of Singapore-based Fraser and Neave's (F&N) stake in Asia Pacific Breweries (APB) to Heineken. Heineken has offered 5.6bn...

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JAL shares rise on re-listing

18 September 2012 Last updated at 20:45 ET Japan Airlines (JAL) shares rose 2.6% on strong demand, almost three years after it filed for bankruptcy in one of Japan's biggest corporate failures. JAL shares climbed as high as 3,890 yen, up from its re-listing price of 3,790 yen on the Tokyo Stock Exchange. The 663bn yen ($8.4bn; £5.2bn) initial public offering comes after the airline...

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Business bank will 'need £40bn'

18 September 2012 Last updated at 19:07 ET The government-backed "business bank" planned by Vince Cable will need £40bn to successfully boost lending to UK firms, say the think tank IPPR. It says the bank must also be able to tap bond markets for up to £100bn. The IPPR also suggests the government allow the bank to invest in infrastructure projects such as road building to help reflate...

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Rachel Lomax 'no' for Bank chief

18 September 2012 Last updated at 18:41 ET The former deputy governor of the Bank of England Rachel Lomax says she will not be applying to be the bank's next governor. The economist - who previously sat on the Bank's Monetary Policy Committee - had been named as the leading female candidate to take over from Sir Mervyn King. Sir Mervyn is due to step down next year. Ms Lomax made...

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URGENT URGENT

Dear friend, I know that this message will come to you as a surprise. I am Dr.Abu Salam from Burkina Faso the Accounting and Auditing Manager bank of Africa (B.O.A), Ouagadougou I hoped that you will not expose or betray this trust and confident that I am about to repose on you for the mutual benefit of our families. I need your urgent assistance in transferring the sum of (usd$10.5m) million to...

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