Culture dept to quit iconic headquarters

first_img whatsapp Show Comments ▼ KCS-content Tags: NULL THE Department for Culture, Media and Sport (DCMS) is quitting its iconic headquarters near Trafalgar Square and renting space in another Whitehall building, in an audacious bid to shave £10m from its annual budget, City A.M. has learned. The unusual move shows the lengths that cabinet ministers are going to in order to find departmental savings of up to 40 per cent, as the coalition government gears up for the tightest fiscal squeeze in Britain’s peacetime history. Culture secretary Jeremy Hunt – who currently leases the imposing Georgian-fronted building on Cockspur Street – is in negotiations about renting spare office space from the Department for International Development and the Department of Health. An aide to Hunt said the building, which costs £10m a year to lease and £3,000-a-week to heat, was too large for the department’s needs.“It’s a massively expensive albatross around our neck. We don’t fill it as it is,” she said, adding the building would be even emptier when job cuts start to kick in. Up to one in two staff at the department could be made redundant in the autumn, according to plans submitted to the Treasury that imply a 40 per cent cut to its £2.1bn budget. DCMS officials yesterday insisted a final decision on whether to quit the building had yet to be taken, but Cluttons and BNP Paribas Real Estate are already marketing the 95,670 sq ft building to prospective tenants at a price of £49.50 per sq ft. The building, which began life as the headquarters of a steamship company in the eighteenth century, underwent a major redevelopment in 2003 and boasts a plant-filled atrium, gymnasium and scenic lift. Keith Harris, who is marketing the property for BNP Paribas, said there had been a lot of interest due to a dearth of West End commercial space. whatsapp Culture dept to quit iconic headquarters Thursday 12 August 2010 8:28 pm Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img read more

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Stagecoach sees sales rise

first_imgWednesday 18 August 2010 2:51 am Stagecoach sees sales rise Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Stagecoach said underlying sales rose across its UK and US bus and rail operations over the last three months and that it expects to meet its profit expectations for the year.Like-for-like revenues at its British rail business, which includes London commuter franchise South West Trains, grew seven per cent in the 12 weeks to 25 July.Meanwhile Virgin Rail, in which it owns a 49 per cent stake, achieved sales growth of 18.7 per cent.Sales at its UK bus unit rose two per cent during the period, while its North American coaches operation posted a 6.9 per cent rise in underlying revenues in the three months to the end of July, shrugging off tough economic conditions and reduced capacity.“Trading conditions have improved across the group, with improving revenue trends in both the UK and North America,” the company said in a statement.“The group remains on course to meet its expectations of profitability for the year ending 30 April 2011.”Stagecoach said the outlook for its businesses was positive despite uncertainty surrounding the effect of the change in the UK government and the sustainability and pace of economic recovery.Shares in Stagecoach have fallen ten per cent in the last month. whatsapp John Dunne whatsapp Tags: NULL Share last_img read more

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Pension liabilities rise to more than £1.2 trillion, says Aon

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content Thursday 2 September 2010 7:57 pm Pension liabilities for UK private sector final salary schemes have hit a staggering £1.2 trillion, as market conditions continue to deteriorate.This represents a 20 per cent increase since the landmark £1 trillion figure was hit in August 2009.According to Aon, which tracks roughly half of the UK’s private sector pension scheme liabilities, market conditions are continuing a downward spiral. A spokesman said: “The main cause of the increased value placed on the schemes’ liability is the fall in the yield available on government securities.”He added: “The lower yields are a product of the weak and slowing world economy, very loose monetary policy as credit conditions remain tight, and the flight to safety effect from abroad due to problems in the Eurozone.“The government bond yield is used as a benchmark for assessing pension scheme liabilities. The 20 year government gilt yield has dropped to 3.76 per cent, a level at which it has only been once before during the last ten years.”The top 200 pension schemes accumulated liabilities of £608bn in August and a deficit of £97bn, up from £74bn at the end of July and £78bn at the end of August 2009. Share whatsapp Show Comments ▼ Pension liabilities rise to more than £1.2 trillion, says Aon Tags: NULL whatsapplast_img read more

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BAE Systems to cut nearly 950 jobs ahead of spending review

first_img whatsapp BAE Systems to cut nearly 950 jobs ahead of spending review KCS-content whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com Thursday 9 September 2010 8:20 pm Tags: NULL Show Comments ▼ Share BAE Systems plans to shed 740 jobs in its military aerospace business in Britain.“We have made an announcement within our UK Military Air Solutions business this morning which relates to the beginning of a consultation process around a proposed 740 job losses from five of our UK sites,” said a BAE spokeswoman.Europe’s largest defence contractor said the cuts come as a result of workload changes and will enable it to maintain a lean and efficient business in the future. The Unite union said the cuts would be made across aircraft sites at Brough, Chadderton, Farnborough, Samlesbury and Warton. The union said a further 206 jobs would go at BAE’s Systems Integrated System Technologies (Insyte) unit. last_img read more

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Nomura banker joins Occitan

first_img Show Comments ▼ Nomura banker joins Occitan Tuesday 28 September 2010 11:27 pm Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Occitan Capital Partners, the new London-based hedge fund launched by two former Goldman Sachs bankers, has appointed former Nomura banker John Candillier as its new chief executive. The appointment comes just before the fund’s official launch in November. Occitan was set up by former Goldman Sachs traders, Herve Gallo and Thomas de Gardiel-Thoron, in the summer. Candillier, who was head of distribution for continental Europe at Nomura, worked with Gallo at Lehman Brothers. center_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp Tags: NULLlast_img read more

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GE closes $4.6bn of deals to build up its business…

first_imgWednesday 6 October 2010 7:54 pm whatsapp whatsapp Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap General Electric (GE) yesterday made a pair of major acquisitions despite being spurned in a third attempt to buy a UK oil firm, as the largest US conglomerate builds up its energy and finance arms.GE reached a $3bn (£1.9bn) deal to buy Dresser, a maker of gas engines used by oil and gas production firms. “Dresser has a global franchise and brand with 60 per cent of sales outside of North America, which will be accelerated by GE’s global footprint,” said John Krenicki, a GE vice chairman of its energy infrastructure division.Its GE Capital finance arm, which had been its weakest point through the recession had bought $1.6bn of retail credit assets from Citigroup.GE has been an active acquirer over most of the past decade, and chief executive Jeff Immelt has said the company will focus on deals sized at $1bn to $3bn in areas that complement its core industrial and finance businesses. The company is in the process of selling its NBC Universal media business to the biggest US cable operator Comcast.The payoff of the company’s latest round of deals is yet to be seen, said senior portfolio manager Peter Klein at Fifth Third Asset Management. KCS-content Tags: NULL Share GE closes $4.6bn of deals to build up its business… Show Comments ▼last_img read more

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Freud Communications profit soars

first_img whatsapp Tags: NULL Freud Communications bucked the recession with a 28 per cent increase in pre-tax profits to £6.7m last year.Annual accounts for the PR agency, which is majority-owned by French advertising giant Publicis Groupe, show revenues rose 23 per cent to £33 million.It is understood that significant growth at teh firm run by Matthew Freud, came from corporate reputation management.Leading clients were Asda, The London Organising Committee of the Olympic Games and Pepsi Co. Freud Communications profit soars whatsapp Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrapcenter_img Friday 8 October 2010 5:10 am Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald John Dunne last_img read more

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IMF talks fail to allay currency war fears

first_img CRUNCH talks between leaders of the International Monetary Fund (IMF) member countries yesterday failed to allay fears of an all-out currency war.Finance chiefs had hoped to thrash out concrete plans for dealing with uneven global growth, which is behind increasingly choleric currency tensions.Rhetoric between China and the US has been stepped up in recent weeks over China’s refusal to allow the yuan to appreciate against the dollar.Leaders agreed the IMF should have more powers to scrutinise the macroeconomic policies of individual nations, but fell short of guaranteeing it will have the political clout to influence policy decisions.Former IMF chief economist Kenneth Rogoff warned it is vital the organisation is granted the additional powers. He said: “Given the financial crisis that just happened, and the difficulties the IMF has had in getting any traction in the global exchange rate system, it simply has to find a way to gain more leverage over the advanced economies if it is to accomplish its mission of helping maintain global economic and financial stability.”Dominique Strauss-Kahn, the IMF’s managing director, has proposed drawing up “spillover reports” on how the economic policies of the world’s five largest economies – the US, China, the euro zone, Japan and the UK – affect each other.The reports would build on existing IMF powers allowing it to examine the economic policies of all its 187 member countries and make recommendations.The talks will be resumed at the meeting of the G20 nations in Seoul next month, where the currency debate now threatens to overshadow the proceedings. The hosts had hoped world leaders would address longer-term issues such as the creation of a global financial safety net. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today KCS-content whatsapp Show Comments ▼ Sunday 10 October 2010 11:55 pm whatsappcenter_img IMF talks fail to allay currency war fears Share Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Tags: NULLlast_img read more

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CITY MOVES | WHO’S SWITCHING JOBS

first_img whatsapp CITY MOVES | WHO’S SWITCHING JOBS More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Show Comments ▼ ICAPThe inter-dealer broker has appointed Iain Torrens as group finance director, after incumbent Matthew Lester, pictured, said he would leave to take up a role as the next chief financial officer of Royal Mail.Torrens joined ICAP in 2006 and has been group financial controller since July 2008.Lester, who also formerly held senior finance roles at drinks giant Diageo, will join Royal Mail after ICAP’s half-year results on 17 November.JO HambroThe investment management firm has appointed Jim Leng and Sir Brian Williamson to its board as non-executive directors.Leng is currently the European chairman of US private equity group AEA and sits on the board of Russian oil and gas group TNK-BP and French engineering firm Alstom.Williamson has 40 years of experience in the banking and investment industry, having formerly established and chaired the London International Financial Futures Exchange for many years. He is a non-executive at HSBC and also spent 12 years as a director of the FSA.Lincoln InternationalThe mid-market investment banking group has hired Jonathan Broome to lead its newly-launched UK debt advisory business, effective from January next year.Broome joins from DC Advisory (formerly Close Brothers Corporate Finance), where he was a managing director in the debt advisory group. His experience includes advising Graphite Capital on its acquisition of U-POL from AAC Capital, advising LGV on its acquisition of Snow & Rock, and advising Warburg Pincus on its acquisition of Survitec from Montagu Private Equity.Ernst & YoungThe accountancy firm has hired a new partner to lead its advisory practice in Scotland.Stephen Farrell joins from consulting and business services group Mouchel, where he was managing director of the international consulting business, advising on business transformation programmes across a number of industry sectors, including government, utilities, life sciences and financial services.Stephenson HarwoodSara George has joined the law firm’s financial services contentious regulatory practice as a partner.She was previously at Allen & Overy, specialising in advising clients under investigation by the Financial Services Authority and the Serious Fraud Office. Share Sunday 17 October 2010 10:39 pm whatsapp KCS-content Tags: NULLlast_img read more

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Germany boosts Eurozone service sector

first_img THE EUROZONE’S service sector economy pulled ahead in November thanks to strengthening German and French business, but debt-burdened Ireland and Spain continued to lag behind, business surveys released today show.The Markit Eurozone Services Purchasing Managers Index (PMI), which surveys more than 2,000 businesses ranging from banks to hotels, rose in November to 55.4 from 53.3 in October and beating an earlier flash estimate of 55.2.This marks the 15th month the index has kept above the 50 mark that divides growth from contraction, largely thanks to strong private sector recoveries in the biggest of the 16 euro zone economies, Germany and France.However, surveys released earlier on Friday showed the Spanish service sector in decline and Ireland’s in stagnation – a divergence from the prosperous euro zone core which survey compiler Markit warned could worsen in coming months.“Germany’s recovery goes from strength to strength as service providers and consumers feel the benefit from export-led growth,” said Chris Williamson, chief economist at Markit.“But austerity measures and economic uncertainty are hitting consumer confidence in the debt-laden countries.”Underlining the divergence, Williamson noted that business expectations in Germany hit their second highest in almost seven years while Irish confidence in the future saw the biggest monthly deterioration since the collapse of Lehman Brothers.For the eurozone as a whole, order books at services companies grew at the strongest rate since August, with the new business sub-index rising to 53.2 from the flash estimate of 52.9 and October’s 52.1.The services jobs index hit its highest level since February 2008 and again thanks to a strong German recovery, with business expectations also improving.The composite PMI survey, which combines data from the services index with Wednesday’s manufacturing PMI, also rose strongly on the back of Franco-German strength.The headline composite index reached 55.5 in November from 53.8 in October, revised up marginally from the flash reading of 55.4.“The final Eurozone PMIs highlight the dilemma facing policymakers at the ECB due to growing variations in economic recoveries within the region,” Williamson said.“Spain is showing further signs of double-dip recession, with output contracting for the third successive month and Ireland barely managing to stagnate.”The composite PMI did show some promising news on jobs growth, however. At 53.1, the jobs sub-index hit its highest level since February 2008, rising from 51.1 in October.Unemployment in the euro zone inched up to 10.1 per cent in October from 10.0 per cent in September, its highest level since 1998, according to official statistics released on Tuesday. Share Show Comments ▼ whatsapp alison.lock Friday 3 December 2010 4:59 amcenter_img Germany boosts Eurozone service sector whatsapp Tags: NULLlast_img read more

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