Louise Cooper News
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Marks & Spencer Group Plc Chief Executive Officer Marc Bolland may have only a year to prove he can revive Britain’s biggest clothing retailer after reporting a sixth straight quarterly drop in non-food sales.
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U.K. stocks gained for the first time in four days as better-than-forecast data from the U.S. on housing starts and corporate earnings boosted optimism in the outlook for the world’s largest economy.
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The rebound in the euro and European stocks last week may prove short-lived in the face of increasing pessimism over the region’s debt, if money-market and derivative trading are any indication.
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German stocks slumped for a second day as earnings from Volkswagen AG, Deutsche Lufthansa AG and BASF SE missed estimates and U.S. lawmakers moved no closer to agreeing a compromise to raise the federal debt limit.
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Most U.K. stocks rose as China said it will help resolve Europe’s debt crisis and the leaders of Greece’s two biggest political parties gave written commitments to austerity measures to obtain further financial aid.
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U.K. stocks fell as the cost of insuring against default on European financial debt rose and French borrowing costs climbed at a bond sale, renewing concern that the euro-area debt crisis is yet to be contained.
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