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Supermarket chain Asda has been told by the Office of Fair Trading that it will have to sell a total of 47 Netto stores in order to stay within the competition watchdog’s guidelines. The figure produced by the OFT is higher than the grocer expected. In May, Asda struck a deal worth £778 million with [...]

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Managing director of Liverpool FC, Christian Purslow, has assured fans that the club is not going bust. However, co-owners George Gillet and Tom Hicks owe the royal Bank of Scotland £237 million. The renegotiation or repayment of the loan is due in October. On the clubs’ website, Mr Purslow answered questions from worried fans over [...]

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The Advertising Standards Authority has told Asda that an advert it has produced, claiming many of its products were being sold at lower prices than its competitors, must be removed, and not released again in its present format, because it is ambiguous. Tesco complained to the ASA about the ad saying it could not work [...]

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Lloyds banking boss Eric Daniels has announced he intends to step down. The 59-year-old said he would remain until a replacement was found some time next year. Sir Win Bischoff, the group’s chairman, said he and the rest of the board were extremely grateful to Mr Daniels for all he had done for the company [...]

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Supermarket chain Tesco has announced that it will start selling the anti-impotence drug Viagra over the counter and at half the price Boots is currently providing it at. Until Boots started offering Viagra to customers last year, the only way to get hold of the little blue pills was with a prescription or via the [...]

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Tesco Sustainable Dairy Group members, a select group of farmers who supply the grocer with milk, have been told that, as of the beginning of November, they will be receiving an extra 1.28 pence per litre. This works out at just over a penny extra for every pint. Many dairy farmers have been complaining that [...]

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Fashion retailer Marks & Spencer has caused some upset by selling a strapless bra which carries the advice that it should not be worn for more than eight hours at a time. The strapless, stick-on bra retails for £20 but carries a warning that wearing it for any length of time could cause skin irritation. [...]

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Nokia, one of the world’s largest mobile phone companies, is to lose its head of mobile business, Anssi Vanjoki. The announcement that Mr Vanjoki has handed in his resignation comes just days after Nokia confirmed that Stephen Elop, from Microsoft, will be taking over as the company’s chief executive. Mr Elop is the first non-Finn [...]

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Philip Clarke, the new Tesco boss due to take over from Sir Terry Leahy when he steps down next March, will focus on Asia, according to a recent interview. Mr Clarke currently looks after Tesco’s European and Asian operations and says that international business will continue to take up much of his time when he [...]

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Mobile phone giant Nokia has announced its new chief executive will be Microsoft’s Stephen Elop. He will be the first non-Finn in the company’s history to take the reigns, and replaces Olli-Pekka Kallasvuo, who has been in the role since 2006. Mr Elop is leaving his position as Microsoft’s business manager after less than two [...]

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