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HOME BBC News - Home BBC News - World BBC News - UK BBC News - Business BBC Sport | Sport Homepage | UK Edition BBC News - Technology BBC News - Entertainment & Arts	NEWS  BBC News - Business House giant enters administration Property giant Connaught formally enters administration, putting thousands of jobs at risk. BP spreads blame over oil spill A BP report says "a series of failures" by BP and its contractors were to blame for the massive Gulf of Mexico oil spill. Writing off tax is 'unaffordable' The country "cannot afford" to write off underpayments of income tax caused by problems with the calculation system, a minister says. Cable worries over 'casino' banks Business Secretary Vince Cable expresses "worry" about the combination of High Street banks with investment banking, after Bob Diamond is named as Barclays' new boss. Dublin to break up Anglo Irish The Irish government says it will break up the nationalised Anglo Irish Bank as part of the failed lender's resolution. UK factory output rises by 0.3% UK manufacturing output rises 0.3% in July from the month earlier, thanks to increased output in the machinery sector. Canada in third bank rate rise Canada now has interest rates of 1%, after raising its key lending benchmark for the third time this year. Greece economy contracts by 1.8% The debt-laden Greek economy shrank by a surprise 1.8% in the second quarter as households slashed spending. Halifax says house prices stable UK house prices have stabilised, according to the latest survey from the Halifax. Cable's plan to cut science funds Business Secretary Vince Cable has unveiled plans for a squeeze on public funding for scientific research. Vodafone to pay India $2.6bn tax An Indian court tells Vodafone it has to pay $2.6bn in tax for its takeover of Hutchison Telecom's Indian phone assets. Obama to back company tax breaks President Obama is to call for company tax breaks in his bid to regain the initiative as mid-term elections loom. Job market growth slows in August Job appointments grew at their slowest rate in 10 months in August, raising questions about the strength of the UK job market, a survey suggests. Dana says Korean bid 18% too low Dana Petroleum tells shareholders independent valuers found Korean oil's bid is too low and should be rejected. Lycatel to make adverts clearer Phone card firm Lycatel agrees to make its charges much clearer in its adverts for international phone cards Vodafone makes $6.5bn China sale Vodafone pockets $6.5bn in cash following the sale of its 3.2% stake in China's biggest wireless operator, China Mobile. Posties back Royal Mail bike cuts Union leaders publicly endorse Royal Mail management plans to phase out bikes for postal deliveries. EU ruling opens up German gambling market German gambling restrictions breach European Union law, the EU's highest court rules Workplace accidents 'unreported' Union leaders claim some workplace accidents go unreported with 1.2 million people suffering from work-related illnesses. Tax error letters start to arrive UK tax authorities are bracing themselves for a deluge of complaints and enquiries after sending out fresh tax calculations. Scam fear over electricity credit Criminals have managed to clone prepayment meter keys in order to make money by offering discounted credit to customers. Japan may intervene to curb yen The Japanese finance minister says there could be market intervention as the yen hits a new 15-year high. Huge growth at largest wind farm A massive expansion is to take place at Europe's largest onshore wind farm in East Renfrewshire. Government backs 'super sewer' The government gives its backing to a plan to build a £3.6 billion tunnel to stop raw sewage polluting the River Thames. Boeing revamps military division Boeing announces cuts at its military aircraft division in readiness for future reductions in US government defence spending. Ocado sees 30% rise in food sales Online grocery retailer Ocado sees sales rose nearly 30% in the last quarter, but fails to prevent further share price falls. HP sues Hurd over new Oracle job Hewlett Packard files a lawsuit against its former head Mark Hurd to try and stop him joining database software maker Oracle. Nigeria arrests ex-football heads Four Nigerian former football officials are arrested amid accusations that some $8m (£5m) went missing during the World Cup finals in South Africa. Twitter rant costs Rice sponsor Triple Olympic gold medal-winning swimmer Stephanie Rice loses a sponsorship deal with Jaguar after making a homophobic remark on Twitter. Wednesday ward off administration Sheffield Wednesday are saved from administration after reaching an agreement with their bank over an unpaid tax bill, BBC Radio Sheffield understands. Maurice Saatchi: No Mad Man Maurice Saatchi: "We had a romantic belief that it was possible for individuals to change the world by an act of will - a flat refusal to accept the status quo." Cable concerned over stability of banks The Business Secretary, Vince Cable, has expressed concern about the appointment of the investment banker, Bob Diamond, as the new chief executive of Barclays. Basketball targets emerging markets The National Basketball Association wants to expand the game and are looking at emerging markets such as India and China to push their products. Obama backs company tax breaks President Barack Obama is backing new company tax breaks in an attempt to regain the initiative as mid-term polls loom Connaught workers on the future Pete Key and Marc Woodcock work for Connaught on a Hull City Council contract, carrying out conversions for tenants with disabilities. Cable: Setting the bar on science funding Business Secretary Vince Cable says "the bar will have to be raised" on science funding Retail: "Good news for savvy shoppers" High street sales have picked up slightly driven by sales of computers and school uniforms ready for the new academic year. Tube strike brings major delays Millions of Londoners have been attempting to travel home amid a major Tube strike affecting nearly all its lines. Deep pockets Finding investors to delve beneath the ocean waves Shale gas revolution Could this rock be a new major energy source? China calling Can trade with China help the UK economy? Winding up Regional Development Agency on its way out Q&A: Income tax What should you do if the tax blunder affects you? Crystal ball gazing Experts make their predictions on house prices
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