Business

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Unemployment plunges to five-year low, pay grows

LONDON - Britain's unemployment rate unexpectedly dropped in the three months to February, reviving speculation the Bank of England will start raising interest rates earlier than it has signalled.

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CITIC Pacific in $36.5 billion deal to buy parent's main business 11:43am BST

HONG KONG - China's CITIC Pacific has agreed to buy the main operating unit of its parent, state-backed CITIC Group, for $36.5 billion (21.7 billion pounds) in a stock and cash deal aimed at diversifying its metals and mining business.

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Euro zone inflation stuck in 'danger zone', keeps pressure on ECB 11:31am BST

BRUSSELS - A shock drop in March euro zone inflation to its lowest level since November 2009 was confirmed on Wednesday, keeping pressure on the European Central Bank to intervene should prices not rebound.

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Burberry revenue jumps, sees profits hit by strong pound 10:52am BST

LONDON - British luxury goods group Burberry shrugged off industry jitters about slowing growth in China to post a 19 percent rise in second-half revenue, reiterating that the greatest risk to its profits was the strengthening pound.

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RWE's net profit to stabilise at lower level, CEO says 2:01pm BST

ESSEN, Germany - Germany's RWE said it expected profits to stabilise beyond 2014, albeit at a lower level, as it targets customer-friendly products in an attempt to offset a decline in traditional power generation.

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