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The Times: Business News
| Rolls-Royce to axe up to 2,000 workers |
| Rolls-Royce, the aerospace engineer, has announced further job cuts of between 1,500 and 2,000 around the world during next year, with 140 earmarked to go at its assembly and test facility in Derby. |
| London and Asia dive on further US contagion |
| Shares in London began a further day of falls following steep declines across Asia after investors took fright at grim economic data in Japan and America. |
| Leading retailers launch early move to grab share of Christmas spend |
| Britain’s biggest retailers will ring the opening bell on a brutal pre-Christmas price war today as they prepare to slug it out for the shrinking consumer purse. |
| Iceland secures £2bn IMF rescue package |
| The International Monetary Fund (IMF) approved a $2.1 billion emergency package for Iceland last night to help Iceland rebuild its tattered economy.$ |
| Need to know: Alitalia sale ... Factory orders down ... Miva bid |
| View video and Need to Know interactive heatmap |
| Scrap empty property tax in North East, demands MP, but not in London |
| Nick Brown, the Chief Whip, called yesterday for the North East to be exempted from the Government’s controversial tax on empty commercial buildings. However, Mr Brown, who is also Minister for the North East, said that the tax was appropriate for London and the South East. |
| Minutes of MPC meeting boost hope of further rate cut |
| Hopes of further aggressive interest rate cuts were boosted yesterday as it emerged that the Bank of England considered a drastic reduction in borrowing costs of two percentage points, or even more, this month. |
| Santander snubs UK investors over rights issue |
| Banco Santander has snubbed 1.8 million small shareholders in Britain, excluding them from taking part in its €7.2 billion (£6 billion) capital-raising, it became clear yesterday. The shareholders, who became Santander investors when the Spanish bank took over Abbey and Alliance & Leicester, will not be able to take part in the rights issue. |
| Lloyds TSB wins vote for HBOS merger |
| Lloyds TSB’s shareholders today voted through the bank's rescue takeover of HBOS, owner of Halifax and Bank of Scotland, with 96 per cent of investors backing the deal. |
| No row or acrimony as Davies ends era with Per Una and M&S |
| George Davies is stepping down as chairman of Per Una – the phenomenally successful fashion brand that he created for Marks & Spencer (M&S). Britain’s biggest clothing retailer said that Mr Davies, 67, would be relinquishing his part-time role at the end of the year. |
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