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BBC Business News

BBC News - Business
The latest stories from the Business section of the BBC News web site.


Tax credit overpayments 'to soar'
Many more people will face having to pay back some of the money paid to them as tax credits because of Budget changes, experts say.


Interns are 'entitled to be paid'
Many young people working free as interns may legally be entitled to pay, a report says.


Addresses set to lose county name
Counties appear set to be dropped from postal addresses in future years after complaints about out-of-date names.


US economic growth slows to 2.4%
US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.


Strikes and ash extend BA losses
BA reveals a steep quarterly loss of £164m after being hit by cabin crew strikes and disruption caused by the volcanic ash cloud.


Northwest agrees to pay $38m fine
Northwest Airlines will plead guilty and pay a $38m fine for fixing air-cargo prices, the US justice department says.


Immigrant worker limit criticised
Government plans to limit the number of skilled foreign workers allowed into the UK are criticised by the Lord Mayor of London.


Airbus firm EADS lifts output aim
Airbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.


Royal Mail pension plan in doubt
The Pensions Regulator is challenging a crucial plan to pay off the £10bn deficit in the Royal Mail pension scheme.


Fraud charges over £115m inquiry
A businessman investigated by City of London police is facing 30 charges of fraud


Deadline for tax credits renewal
Families face missing out on financial assistance if they miss Saturday's deadline to renew tax credits.


Disney sells Miramax film studios
Walt Disney announces the sale of its Miramax film division for about $660m to a group of private equity investors.


Sale of EDF's UK networks agreed
A consortium headed by Hong Kong billionaire Li Ka-Shing agrees to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).


Benefits face 'radical' shake-up
Merging all tax credits and benefits into a single payment is one option being considered by Iain Duncan Smith in a "radical" welfare shake-up.


Fugitive Nadir will stand trial
Fugitive Polly Peck tycoon Asil Nadir, who fled to northern Cyprus in 1993, confirms he will come back to the UK to stand trail on theft charges.


US sees paper profit on bail-outs
Assets bought by the US to bail out AIG and Bear Stearns are showing a paper profit, the Federal Reserve Bank of New York says.


Chip sales boost Samsung profits
Samsung Electronics reports record quarterly profits thanks to higher sales of smartphones and components such as memory chips.


Industry toasts rise in beer sales, but pubs miss out
Good weather and football's World Cup is thought to have given a boost to beer sales in the UK, industry figures suggest.


Aldi's 'elusive' billionaire co-founder dies
The billionaire co-founder of budget supermarket Aldi, Theo Albrecht dies, aged 88.


Fixed retirement age to be axed
People reaching the age of 65 will no longer be forced to retire from October next year, under plans announced by the government.


House price inflation eases again
UK house prices fell 0.5% in July, the Nationwide says, cutting the annual rate of house price inflation to 6.6% from 8.7%.


Landmark ruling on divorce money
A "ground-breaking" Court of Appeal judgement removes the protection previously given to thousands of people in divorce proceedings.


California in 'fiscal emergency'
California governor Arnold Schwarzenegger declares a fiscal state of emergency, putting pressure on lawmakers to pass a budget.


Review warns of 60,000 job cuts
Up to 60,000 people working in the public sector in Scotland could lose their jobs, according to an independent review commissioned by ministers.


China allows IMF report release
China allows the publication of an International Monetary Fund staff report on its economy for the first time since 2006.


BP boss scaling back oil effort
The incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.


Gambling firms reveal merger plan
The UK's Partygaming and Austrian firm Bwin unveil plans to merge and create the world's largest online gaming business.


Citigroup agrees $75m fraud fine
Banking giant Citigroup agrees to pay $75m to settle civil charges that it misled investors over potential losses from subprime mortgages.


ITV wins Rugby World Cup rights
ITV successfully holds onto the UK TV rights for the next two Rugby World Cups, it is announced.


P&G in London 2012 Olympics deal
Consumer products giant Procter & Gamble becomes the 11th big firm to sign an Olympics sponsorship deal covering London 2012.


Extent of Barcelona debt revealed
A new audit into Barcelona's finances reveals the club's debt is 442m euros (£369.5m) after a loss of more than 77m euros (£64.36m) last season.


Iran trade sanctions hit Dubai port
In Dubai's port area, the renewed clampdown by the US on trade with Iran is hurting many legitimate, local businesses.


BP boss scaling back oil effort
Incoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.


Fuel protests: 'Three days from anarchy'
Tom Feilden investigates whether the lessons on food security from the fuel protests 10 years ago have been learned


Novel take on French home shortage
Young French people having difficulty finding affordable housing are being given the chance to help older members of society and put a roof over their own heads.


IDS: Welfare system 'close to breaking'
Work and Pensions Secretary Iain Duncan Smith says welfare reform will be "humanizing" rather than "finger wagging"


Iran sanctions: Turkey's dilemma
Turkey is facing a difficult decision after the EU approved an embargo on foreign trade with Iran this week.


US GDP figures show 2.4% growth
The US economy grew 2.4% during the second quarter, according to figures published by the US government.


Sale of EDF's UK networks agreed
A consortium headed by Hong Kong billionaire Li Ka-Shing has agreed a deal to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).


Picking up Penguins for 75 years
A colourful history of the famous book publisher


Hit by sanctions
Black market boom as Dubai curbs trade with Iran


Pensions timebomb
Russians fear the benefits system will cease to exist


New face
Can the new Metro Bank really shake up High Street banking?