And in the real world... Lloyds Banking Group, MySpace, Jessops and more

LONDON - Today's round-up of the biggest business stories.

World news... round-up
World news... round-up

Lloyds Banking Group has stunned staff by reneging on its decision to close its Cheltenham & Gloucester branch network. The planned November closures would have seen 833 C&G staff lose their jobs, but keeping them open would now allow the bank to offer up the network as a possible concession to the European Commission in return for state aid.
Source: Financial Times

MySpace, the News-Corp owned social networking site, has acquired the music application iLike for about £12 million.
Source: Financial Times

Clothing retailers have experienced their strongest sales since last November, thanks to the warm weather that the UK experienced earlier in the summer. Sales for the sector over a 12-week period ending 21 June fell by just 2 per cent, the lowest fall this year.
Source: The Daily Telegraph

Jessops, the camera specialists, has reported a 4.7 per cent fall in like-for-like sales for the second quarter of this year, as staff await the outcome of talks regarding its future.
Source: The Guardian


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