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Sky News
UK businessman accused of fraud conspiracy by giant US firm cleared after extradition and lawsuit
British entrepreneur Mike Lynch has been cleared of all charges by a US jury in the high-profile fraud case related to the sale of his software company Autonomy to Hewlett-Packard (HP) in 2011.Dr Lynch, who was extradited to the US to face trial just over a year ago, was acquitted alongside a former finance executive …
Business
Euro News
McDonald’s loses chicken Big Mac trademark battle with Irish rival
Business
Sky News
Interest rate cut for euro area but no commitment to more
The 20 countries using the euro currency have seen interest rates cut from record highs following progress in the battle against inflation over the past two-and-a-half years.The Frankfurt-based European Central Bank (ECB) said on Thursday it was “appropriate” to trim its main deposit rate from 4% to 3.75%. It followed an assertion last month by …
Business
Business Live
Work under way turning former Ebbw Vale Garden Festival site into a new business park
Work has started on a multi-million-pound redevelopment of the Festival Park site in Ebbw Vale into a new business centre. Birmingham-based Mercia Real Estate is creating 39 industrial units totalling 84,202 sq ft at the 70-acre site, which in 1992 was the location for the last National Garden Festival. The business park is being marketed …
Business
Evening Standard
Summer of interest rate cuts heats up as major central banks start taking action
 The City was readying  for a summer of falling interest rates  today, after the first cut from a major central bank added to the pressure on the Bank of England to join in.  Canada became the first G7 nation to reduce benchmark borrowing costs. The milestone move for the club of rich-world nations came overnight. Switzerland took similar …
Business
Evening Standard
Hundreds of staff at two airports balloted for industrial action in pay row
Airport workers are to be balloted for industrial action ahead of the summer holidays after union members rejected a “miserable” pay offer.Unite said around 300 ICTS Central Search members based at Aberdeen and Glasgow airports have rejected a basic pay increase of 4% backdated to January, and a £500 one-off payment.The union said it now …
Business
Sky News
Badenoch to meet Royal Mail bidder Kretinsky next week
Kemi Badenoch, the business secretary, will next week meet the Czech tycoon who is on the verge of becoming the first foreign owner of Royal Mail in its 500-year history.Sky News has learnt that Ms Badenoch will hold talks with Daniel Kretinsky after his investment company, EP Group, struck a £3.6bn deal with the board …
Business
Evening Standard
Construction sector grows at fastest rate for two years
The UK construction sector’s recovery gathered pace in May as it grew at the fastest rate for two years, according to new data.Building firms said momentum improved on the back of rising workloads, which drove them to take on more staff and buy more materials.The latest S&P Global construction purchasing managers’ index (PMI) scored 54.7 …
Business
Evening Standard
Less risk of Britain losing power next winter than last, says grid operator
Britain is less likely to lose power this winter than it was last year, according to the company that runs the grid.National Grid’s Electricity System Operator (ESO) said on Thursday that it expects power plants, wind farms and other generation methods to be able to provide more than enough power to meet demand.In an early …
Business
Evening Standard
Simply Be owner N Brown returns to profit despite weaker consumer demand
The company behind fashion brands JD Williams and Simply Be has reported weaker sales as shoppers continued to tighten their belts, but hailed a return to an annual profit.Shares in N Brown, which also owns menswear brand Jacamo, soared by nearly a fifth after it revealed it had shored up its balance sheet over the …
Business
Sky News
Apple overtaken as world’s second most valuable company
Nvidia has overtaken Apple to become the world’s second most valuable public company. The AI microchip maker’s share price has risen to be worth more than $3trn (£2.34trn). Only Microsoft is a more valuable company listed on a stock exchange, while Apple has fallen into third place. Meteoric riseNvidia shares rose 5% on Wednesday after …
Business
Euro News
Nvidia’s market valuation tastier than Apple’s ahead of share split

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