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Fishy smell from Namibian tax affairs

Image caption A lot of money is being made from Namibia’s fish industry but who benefits? Walvis Bay is a part of Namibia tourists don’t visit much. The huge industrial port is filled with towering freighters and trawlers flanked by dozens of smelly fish plants. Rickety shacks line the roads …

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FTSE falls as Burberry and Bunzl slide

Image copyrightGetty Images The UK market was on track for its worst week in two months as retail shares continued to lose ground. Shortly after midday, the benchmark FTSE 100 share index was down 39.97 points at 7,444.13. Retail distribution group Bunzl was the biggest faller in the index, down …

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UK industrial output jumps in September

Image copyrightGetty Images The UK’s industrial output grew at its fastest pace so far this year in September, according to official figures. Production rose by 0.7% compared with the month before, the Office for National Statistics (ONS) said, boosted by machinery and equipment output. Separate data showed the UK’s trade …

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Trump emissions threat to US car industry

Image copyrightGetty Images The US car industry will be wrecked if President Trump relaxes emissions standards, California’s governor says. Jerry Brown said China would dominate car manufacture because it was heavily promoting the electric vehicles that would dominate the future. He said huge investment was needed on electric vehicles, along …

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Hummus firm revives share float plans

Image copyrightBakkavor Food processor Bakkavor, the UK’s biggest hummus maker, has decided it will list its shares on the UK stock market after all. Last Friday, the firm, which supplies a range of foods to UK supermarkets, said it would abandon listing plans as the market was “too volatile”. It …

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Uber loses appeal against drivers’ rights

Media playback is unsupported on your device Media captionTwo Uber drivers take opposing views on how the company should treat them Taxi firm Uber has lost an appeal against a ruling that its drivers should be treated as workers rather than self-employed. Last year a tribunal ruled drivers James Farrar …

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Kobe blames poor controls for data breach

Image copyrightGetty ImagesImage caption Kobe Steel is Japan’s third largest steelmaker Japan’s Kobe Steel has blamed a lack of controls and a focus on profits for the faking of data on the quality of some of its products. The company said it would automate more of its operations and reorganise …

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LSE investors to vote on chairman’s fate

Image copyrightGetty ImagesImage caption LSE chief executive Xavier Rolet (L) and chairman Donald Brydon (R) Shareholders in the London Stock Exchange (LSE) will vote on whether to eject its chairman and keep its chief executive following investor pressure. The LSE confirmed it would hold an extraordinary general meeting following a …

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Musical.ly lip-syncing app sold for up to $1bn

Image caption Musical.ly in action Musical.ly, a lip-syncing app popular with young people, has been sold to Chinese tech giant Bytedance in a deal worth up to $1bn (£750m). Shanghai-based Musical.ly, founded three years ago, claims over 60 million monthly active users. It’s the first Chinese social media app to …

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Fed policymaker sees further rate rises

Image copyrightReuters US interest rates are likely to rise again next month and a further three times next year, one of the Federal Reserve’s rate-setters has said. John Williams, who sits on the Fed’s Open Markets Committee, said a rate rise in December “makes sense, at least based on the …

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