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Rates cut hopes are weakened.

Hopes of a cut in interest rates this summer were weakened when it emerged that inflation remained at a seven-year high last month.

Stronger-than-expected inflation led many economists to believe rates are likely to remain on hold at 4.75% in the coming months.

Glazer extends shares deadline

US sports tycoon Malcolm Glazer is on the brink of gaining complete control of Manchester United after lifting his stake in the club to 97.3%.

Mr Glazer has extended the deadline for his 300p-a-share offer for the former Premiership champions to June 27 in the hope of mopping up the remaining shares.

Holidays still a high priority

TOUR operator First Choice said holidays remained high up the list of spending priorities of consumers as it reported an increase in summer bookings. The group said it was yet to feel any ill-effects from the widely-reported slowdown in household expenditure.

Rolls-Royce in deal with airline

AEROSPACE group Rolls-Royce said it had landed maintenance agreements with a French regional airline. Rolls said it had secured the service contracts with Regional, a subsidiary of recently merged Air France-KLM, for an undisclosed fee.

Security firm still `growing'

SECURITY firm Group 4 Securicor continued its growth story despite no pick up in demand for UK security guards. The firm, formed out of Securicor and Danish rival Group 4 Falck last July, said it had kept overall internal growth at more than 6%, with all business areas performing at that level.

AEA hopes to raise pounds 33m

ENGINEERING group AEA Technology announced plans for a refinancing to cut its debts. The Oxfordshire-based group said it was planning to raise pounds 33m through a share placing and offer of about 50.7 million new shares at 65p each.
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Publication:The Journal (Newcastle, England)
Date:Jun 15, 2005
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