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Hertz to muscle in on the British car-club market

Hertz, the car-rental giant, is to drive into the car-club market competing with independent specialists Streetcar, City Car Club and Zipcar.

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David Prosser: The fightback of sterling may be shortlived

George Osborne may have spent much of Sunday furiously insisting he was perfectly within his rights to tell the world he thought the Government's economic policies might trigger a run on the pound, but he will still have breathed a sigh of relief when sterling staged a modest recovery yesterday.

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Peugeot to cut more jobs as car crisis continues

PSA Peugeot-Citroen, Europe's second-biggest carmaker, announced a fresh wave of job cuts today as a decline in European car sales is seen continuing into 2009.

Former B&B chief 'massively sorry'for demise of lender

The boss of Bradford & Bingley issued a public apology yesterday as he told a Commons Treasury Select Committee hearing that nationalisation had been the only option after a run on his bank. The former Bradford & Bingley chairman Rod Kent apologised for his management's role in the lender's demise and said the bank's board "accepts it is fully accountable for what happened" and was "massively sorry".

Consortium told £950m Trillium buyout will be 'over by Christmas'

Land Securities, the FTSE 100 property giant, has told the consortium bidding for its Trillium outsourcing division that it hopes to conclude the £950m deal around Christmas.

Sharp fall in inflation as food and petrol prices dive

The rate of inflation in Britain fell further than expected in October as the sharp drop in the price of petrol and food helped push the consumer prices index back towards its target level.

Stephen King: Another British currency crisis – it's enough to make you feel nostalgic

Stick your head out of the window, inhale deeply, and enjoy the sweet, yet sickly, scent of nostalgia. It's everywhere. On a Saturday night, you can settle down in front of the television to watch the X Factor or Strictly Come Dancing, throwbacks to the days of Opportunity Knocks, New Faces and the BBC's Seaside Special. You can bask in the reflected glory of our summer Olympians who won the most British medals since the 1908 Olympics when the tug o' war was, apparently, taken rather seriously. Or you can look at sterling's sudden collapse and think of the seemingly countless occasions when Britain's economic prospects were undone as a result of a currency crisis.

Hamish McRae: Treasury's dreadful position means a long squeeze on living standards

The Treasury is in an even bigger bind than we realised. We will get the tax stimulus on Monday with the pre-Budget report, but meanwhile the underlying gap between revenues and spending has widened still further. And this is before the downturn has really struck.

London warned as Citigroup axes 50,000

Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

Hamish McRae: Should we keep our powder dry?

We are still in the early stages of the downturn but we can - in a funny way - see more about the policy response to it than we can about its scale and shape.

Downturn sees sharp rise in wage freezes

The number of manufacturing firms freezing pay or deferring wage increases has risen sharply to almost one in four in the last three months, a new report revealed today.

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