Business News Headlines

Juncker unveils investment plan to kick-start EU growth

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STRASBOURG, France - The European Commission presented a plan on Wednesday for some 300 billion euros (238 billion pounds) of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt.

2:23pm GMT

Saudi, UAE signal no push for OPEC oil cut

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VIENNA - OPEC leader Saudi Arabia and fellow member the United Arab Emirates signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have sunk by a third since June.

Middle East, World 4:01pm GMT

EE owners confirm takeover talks with BT

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LONDON - EE's German and French owners confirmed on Wednesday they were in talks to sell Britain's biggest mobile network operator to BT as part of a wider review of its options. | Video

Tech, UK 2:51pm GMT

FTSE flat, mining shares advance

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LONDON - FTSE steadied in late trading on Wednesday, erasing early gains, with weaker travel and leisure stocks offsetting a rebound in miners and strength in telecoms.

FXpert 4:00pm GMT

India advised against challenging Vodafone tax ruling - source

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MUMBAI - India's attorney general has recommended the government refrain from appealing a regional court ruling in favour of Vodafone Group Plc in a long-running tax dispute, a person directly involved in the matter said.

3:56pm GMT

First Bank of England hike pushed to third-quarter 2015, next rises to be even more gradual - Reuters Poll

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- The first hike in British interest rates will now come in the third quarter of next year, six months later than previously thought, owing to low inflation, sluggish pay growth and a weak euro zone economy, a Reuters poll found.

3:33pm GMT

Thomas Cook hit by shock CEO departure, slowing growth

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LONDON - British holiday company Thomas Cook said chief executive Harriet Green had been replaced by its chief operating officer, the abrupt departure of a woman credited with reviving the business sending its shares tumbling. | Video

3:15pm GMT

Don't mess with UK 'free' banking, Lloyds boss says

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LONDON - Free banking services in Britain for customers who are in credit should remain and authorities should not impose charges as part of attempts to shake up the market, the boss of Lloyds said on Wednesday.

UK, 1:22pm GMT

U.S. consumer, business spending data point to slowing growth

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WASHINGTON - U.S. consumer spending rose modestly in October and a key measure of business spending plans fell for a second straight month, suggesting some slowing in the pace of economic growth.

4:06pm GMT

Chrysler recall delay hikes air bag risk - U.S. regulator

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DETROIT - Chrysler Group LLC must expand its regional recall of vehicles with Takata Corp air bags and begin notifying customers of the action by Monday, the U.S. National Highway Traffic Safety Administration said.

4:09pm GMT