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Ted Baker investigation finds £58m phantom stock

Image copyright Ted Baker Fashion retailer Ted Baker has said it overstated the value of its stock by £58m, double previous estimates. Last month it said the figure was up to £25m. The new estimate comes after a review by accountants Deloitte. Last year, former boss Ray Kelvin stepped down …

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Sainsbury's chief executive Mike Coupe to retire

Image copyright Getty Images Sainsbury’s has announced its chief executive Mike Coupe will retire from the supermarket group in May. Mr Coupe has led the supermarket for almost six years during which he oversaw the failed merger with rival Asda. The company said the head of its retail and operations, …

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Bezos hack: Saudi Arabia denies involvement

Image copyright Getty Images Image caption The relationship between Jeff Bezos and Crown Prince Mohammed bin Salman soured after Jamal Khashoggi’s murder Saudi Arabia has denied that its crown prince was responsible for hacking Amazon boss Jeff Bezos’ phone. A message from a phone number used by the prince has …

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GM's Cruise unveils its first driverless vehicle

Image copyright Cruise Cruise, the self-driving car start-up, majority owned by General Motors, has unveiled its first vehicle designed to be driverless. The electric-powered Cruise Origin was developed by Honda, which also has a stake in the company. The launch of the vehicle, which has no steering wheel or pedals, …

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Sirius: 'You feel sorry for people who've invested a lot'

Image copyright Sirius Minerals Image caption The Woodsmith mine site near Whitby Workers on the huge Woodsmith mine may have breathed a sigh of relief after its struggling owner Sirius Minerals received a takeover bid. Anglo American will buy the mine for £404m, or 5.5 pence per share. But since …

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What happens when we're too old to be 'useful'?

Image copyright Getty Images “I customarily killed old women. They all died, there by the big river. I didn’t used to wait until they were completely dead to bury them. The women were afraid of me.” No wonder. That’s the account of a man from the Aché, an indigenous tribe …

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Christmas magic vanishes for the UK toy industry

Image copyright Getty Images Image caption The industry has had little to cheer throughout 2019 Toy sales in the UK fell by 6% for a second year in a row in 2019 as politics overshadowed the traditional festive buying season. The general election in December and Brexit uncertainty during the …

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Netflix blames competition for weak US growth

Image copyright Sophie Mutevelian/Netflix The emergence of new competitors has started to dent Netflix’s growth in the US. The streaming giant said it added just 420,000 subscribers there in the most recent quarter. It blamed the “low membership growth” on “new competition” as well as its recent decision to raise …

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Vodafone quits Facebook's Libra currency

Image copyright Getty Images Vodafone has become the latest company to leave Facebook’s digital currency project, Libra. The Libra Association has seen an exodus of backers including Paypal and Mastercard amid regulatory scrutiny. Facebook announced in June last year that it would launch the digital currency in partnership with other …

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