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Business Headlines 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. 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). 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. Deadline for tax credits renewal Families face missing out on financial assistance if they miss Saturday's deadline to renew tax credits. Industry toasts beer sales rise Good weather and football's World Cup is thought to have given a boost to beer sales in the UK, industry figures suggest. 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. 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. 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. 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. |
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