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Sainsbury's Coupe says exit not due to failure of Asda deal

LONDON (Reuters) – The boss of British supermarket group Sainsbury’s (L:), Mike Coupe, said he was not stepping down in May because of his failure to buy rival Asda last year. Sainsbury’s agreed 7.3 billion pound ($9.6 billion) deal for Walmart (N:) owned Asda was blocked by Britain’s competition regulator …

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Banks asked to explain 40% overdraft rates

Image copyright Getty Images The UK’s financial regulator has asked banks to explain how they have decided their new overdraft rates. The Financial Conduct Authority (FCA) said most High Street banks had set “very similar prices”, after it demanded changes to the system. Several big brands including Santander, Lloyds Banking …

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Investors embrace millennial co-living in Asia’s megacities

Shared spaces are beginning to look crowded. Even after last year’s meltdown of WeWork, investors are piling into co-living and co-working companies. Sequoia last year selected Rukita, a co-living company based in Jakarta, as one of the first recipients of money from its Surge programme, which provides funding for start-ups …

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