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September, 26, 2016

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Business > Europe
British company bosses won pay hikes of ten percent last year, creating a growing wages gap as workers faced restraint, a study showed Monday.
 
Greek firm sees seaweed as business opportunity
Most people don't think of seaweed as a particularly valuable resource. However, a newly founded Greek company, "PHEE," has identified in seaweed a first-class and innovative business opportunity.
 
The pound ticked up slightly Friday after plunging the day before in reaction to the Bank of England's interest rate cut and surprise stimulus to shore up the British economy.
 
Bank of England cuts rates to record low on Brexit
The Bank of England on Thursday slashed interest rates to a record low 0.25 percent and announced a vast stimulus package to combat economic fallout from Britain's looming EU exit.
 
A closely watched monthly economic survey indicates that the British economy is heading for a sizeable contraction in the third quarter in the wake of the country's decision to leave the European Union, whereas the neighboring 19-country eurozone economy appears to have brushed aside any of the negative fallout from so-called Brexit -- at least so far.
 
British retail tycoon blasts MP for turning inquiry into kangaroo court
The billionaire owner of the Topshop clothing chain on Saturday accused a leading British MP of running a "kangaroo court" after the tycoon was slammed over the collapse of department store chain BHS.
 
It seems that the strong start to the year was another false dawn for the eurozone economy and that the European Central Bank will have more to do in the months ahead to shore up growth.
 
Turkey sees over 40% drop in visitors amid security crisis
The number of foreigners visiting Turkey dropped over 40 percent in June to its lowest level this year as the impact of attacks and previous tensions with Russia caused havoc for the vital tourism industry, statistics showed Thursday.
 
Credit Suisse bounced back into profit in the second quarter, earning 170 million Swiss francs (US$172 million), as it reported making progress on a major restructuring program.
 
Britain's vote to leave the EU has had a limited impact on business confidence in Germany, with belief in domestic strength still strong, a key survey showed on Monday.
 
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