LONDON (Xinhua) — British economic growth is weaker than previously estimated in the second quarter of this year, revised data showed on Wednesday.
British economy grew by 0.1 percent between April and June, less than the 0.2-percent estimated initially, the Office for National Statistics(ONS) said in a statement.
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The Bribery Act may be having a negative impact on the business development activities within UK companies. Some sales and marketing staff are doing up to 50% less corporate hospitality rather than complete all the paperwork now required as a result of The Act according to research from leading independent corporate hospitality consultants and analysts, gdz.
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The EU’s economic outlook has “deteriorated” with the eurozone debt crisis contributing to slowing growth in the second half of the year, but no recession is in sight, the EU said on Thursday.
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A US judge rejected a request from the administrators of failed investment banking giant Lehman Brothers to recoup $500 million from British bank Barclays it says was for employee bonuses.
Lehman says Barclays agreed to pay $2 billion in bonuses to its staff when it acquired the bank’s US brokerage business in 2008 but only paid $1.5 billion. Lehman was therefore looking to recover the last $500 million.
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A new program for small businesses denied bank loans is being rapidly adopted by US merchants. Many businesses have found a needed alternative to bank loans to access cash when they need it most. Less than ten percent of all businesses who applied for bank loans were denied, reports MerchantCashinAdvance.com. The small business loan denial program has allowed many businesses to grow in the recession even in the short time it’s been introduced.
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